Bringing European public goods to the centre of the policy debate
Marco Buti, Alessandro Coloccia and Marcello Messori argue that a well-functioning economic union needs a permanent central fiscal capacity
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Author: Op-ed
Trade fragmentation matters for bank credit supply
Claudia Buch, Linda Goldberg and Björn Imbierowicz discuss new evidence from the International Banking Research Network on how trade uncertainty can be amplified through the supply of credit
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How will higher carbon prices affect growth and inflation?
Carbon pricing is a central instrument in the EU’s fight against climate change. Claus Brand, Günter Coenen, John Hutchinson and Arthur Saint Guilhem use macroeconomic models examine what higher prices for carbon emissions will do to growth and inflation
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The EU’s strategic dependencies unveiled
Román Arjona, William Connell Garcia and Cristina Herghelegiu examine the EU’s dependencies in traded goods and find that the EU benefits greatly from its wide participation in international value chains
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Central Bank independence and the mandate—evolving views
Jerome Powell makes a strong case for limited independence within a democratic framework, warning against a Central Bank widening its remit and scope too far
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The innovation imperative: modernizing traditional banking
Michelle Bowman discusses innovation in the US financial system, the emerging trends that are shaping the industry, and the influence of regulatory approach on this evolution
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Time to step up policy coordination in the euro area
The euro area economy has shown impressive resilience. Nevertheless, Reinhard Felke and Nicolas Philiponnet argue that policymakers should sustain vigilance and action
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Will a digital pound be needed by the end of this decade?
Jon Cunliffe discusses why a digital pound is needed, what the model could look like and how the digital pound may sit within the digital payments landscape
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If it doesn’t trade, is it really marketable debt?
Rebecca Christie says Europe’s bond markets are essential infrastructure, just like the power grid
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The end of ESG
Alex Edmans argues that ESG shouldn’t be put on a pedestal compared to other intangible assets that affect both financial and social value
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