Central Bank Digital Currencies: 4 Questions and Answers
By Tobias Adrian and Tommaso Mancini-Griffoli
Central Bank Digital Currencies (CBDC) is a complex and multidisciplinary topic requiring active analysis and debate. (more…)
Chart of the WeekGlobal Carbon Emissions Are on the Rise Again
By Christian Bogmans, Akito Matsumoto, and Andrea Pescatori
After good progress in the beginning of the decade, global carbon emissions have started to pick up again. (more…)
A New Climate Economy
By Gita Bhatt
“Everybody talks about the weather, but nobody does anything about it.” The quip, attributed to 19th-century American humorist Mark Twain, might describe the current state of play on climate change. In Twain’s day, it was absurd to suppose humans could do anything about the weather. (more…)
Central Bank Accountability, Independence, and Transparency
By Tobias Adrian and Ashraf Khan
عربي, 中文, Español, Français, 日本語, Português, Русский
In August 1694, the Bank of England opened for business with a staff of 19. The original Royal Charter, granted by King William and Queen Mary, tasked the Bank to “promote the public Good and Benefit of our People.” (more…)
For Venezuela’s Neighbors, Mass Migration Brings Economic Costs and Benefits
By Emilio Fernandez Corugedo and Jaime Guajardo
The world’s newest migration crisis is unfolding in Latin America, where Venezuela’s economic collapse and unprecedented humanitarian crisis has sparked a wave of emigration to neighboring countries. (more…)
All the Way to the Top: Industrial Policy, Innovation, and Sustained Growth
By Reda Cherif and Fuad Hasanov
The odds of poor or middle-income countries achieving the stardom of the “Asian Miracles” within a generation or two, or even three, are small. Between 1960 and 2014, only 16 developing economies worldwide were able to vault into high-income status, and many of those were fortunate enough to have discovered oil or join the European Union. (more…)
Chart of the WeekEurope’s Wage-Price Puzzle
Does higher wage growth fuel inflation? In Europe, that has historically been the case. (more…)