Central banks

Finbar Curtin and Matthew Burgess’ recent article analyzing the relationship between the climate and economy has been interpreted as a study proving that climate change’s impact on economic growth is weak. Garvin Jabusch argues that this interpretation is wrong. Rather, the article concludes that statistical estimates of this relationship are limited by data and future capital allocation should favor a ‘no-regrets’ approach anchored in observable cost curves and productive capacity.

"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar Prasad in...

Four powerful forces—cryptocurrencies, the decoupling of geographical and monetary boundaries, ad-based digital platforms’ foray into the world of payments, and the value of data—are...

As Quantitative Easing makes a return during the global Covid-19 pandemic, its effectiveness has once again come under intense debate in both academic and...

In the years leading up to the pandemic, rising inequality created a saving glut of the rich which pushed down interest rates and fueled...

Chile's government announced it would deliver $24 billion in state-guaranteed loans through the financial system to save companies at risk of bankruptcy due to the...

Princeton Professor Markus Brunnermeier and former IMF chief economist Olivier Blanchard discuss the impact of the current global health crisis on public finances and policy...

The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...

Restaurant owners, retailers, and the like employ more than 50 percent of the US workforce, yet neither have cash buffers nor access to Federal Reserve support. In...

Equity markets in the EU and US dropped by as much as 30 percent, which means that investors have revised downward their estimate of...