From laggard to leader?
Isabel Schnabel emphasises the euro area’s strengths in social protection and environmental initiatives, and advocates measure to close the euro area’s technology gap
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Finance
The role of fiscal policy
The global economy has seen a major financial crisis and a worldwide pandemic. Patrick Minford reviews the attempts to model these events and suggests policy conclusions
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The naked emperor’s new clothes
Bitcoin has failed on the promise to be a global decentralised digital currency. Ulrich Bindseil and Jürgen Schaaf argue that the latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment
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A tale of two treatises
In the process towards European economic and monetary union, two reports played crucial roles. Ivo Maes focuses on the Werner and Delors Reports, capturing the key ideas and debates on the EMU process and the birth of the euro
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Can AI prevent financial crises?
Financial markets have inherent instability. Daniel Dăianu considers the role of AI but finds it hard to imagine a complete replacement of human judgment in monetary policy
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The dollar’s international role
The dollar is by far the dominant currency. Christopher Waller does not expect to see the US dollar lose its status as the world’s reserve currency anytime soon
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Advancing crossborder payments
Payments are a vital part of the global and interconnected financial ecosystem. Michelle Bowman considers the evolving payments landscape
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The real effects of trade financing by export credit agencies
Trade finance subsidies, usually provided by export credit agencies, are the predominant tool of industrial policy. Poorya Kabir, Adrien Matray, Karsten Müller and Chenzi Xu discuss the effect of the effective shutdown of the Export–Import Bank of the US (EXIM) from 2015—2019 on firm
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Can AI change economic logic and bring abundance for all?
Daniel Daianu asks if AI can address imbalances between needs and resources sustainably by bringing about abundance for all?
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Beyond money
To ensure the euro’s role in Europe’s future Fabio Panetta argues that we need effective macroeconomic stability, a fully-fledged banking and capital market union, and a dynamic payments and market infrastructure
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