Large transportation infrastructure projects are considered a promising investment to spur economic growth in lagging areas by many policymakers. This column presents historical evidence that
A persistent challenge for the ECB has been meeting the various needs and demands of euro area member states. This column provides empirical and quantitative evidence suggesting that the transmission
Recessions are periods of low opportunity costs for time and resources, and hence can facilitate a productivity-enhancing reallocation of resources and improve productivity growth. However,
Social distancing is important to slow the community spread of COVID-19. This column studies the banning of mass gatherings, a comparably low-cost intervention. Exploiting exogenous variation in
The lack of an efficient and independent judicial system can impede economic development by negatively affecting firms’ ability to invest, innovate, and reallocate capital towards more productive
From Latin America’s lost decade in the 1980s to the more recent Greek crisis, there are plenty of painful reminders of what happens when countries cannot service their debts. This column argues that
Pupils in schools across the UK have lost up to 105 days of education due to school closures during the COVID-19 lockdown and a second wave of the pandemic, likely in the autumn, may disrupt
The COVID-19 crisis has had a substantial impact on labour markets throughout Europe. This column uses new data sources based on Google Trends reports in order to investigate the speed of
As interest rate-growth differentials (r-g) have turned negative in many countries, now could be the time for governments to pursue fiscal expansions. However, the downside risks of such policies
Urbanisation is a major driver of economic development. Agglomeration forces that make cities productive and dispersion forces that limit their growth have been extensively studied, but the effect of
Advanced and developing economies are experiencing a swift process of population ageing that will shape both long-run macroeconomic trends, such as economic growth, as well as short-term business
Economists have long assumed a virtuous cycle between integration and reforms. Implementing structural reforms helps maximise gains from integration, while the deepening of integration would foster
Differences in student achievement are strongly related to both future individual earnings and national economic growth. Cultural traits that underlie intertemporal decision-making may affect how
Understanding the economic incentives and consequences of crime is an important area of research with immense policy implications, but it is not without challenges. This column summarises new
Criminal organisations invest vast sums of money within the legal economies of many countries worldwide. These investments provide criminal organisations with a powerful tool to raise forms of social