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How to make climate policy fair and efficient across countries
Efficient climate policy disproportionately burdens low- and middle-income countries. Modest transfers can make it fair and feasible.
Why was Japan so poor before industrialisation?
Equal land distribution in pre-industrial East Asia paradoxically drove poverty by enabling higher fertility among landowning households, creating population pressure that depressed wages. This dynamic explains why East Asia diverged from Western Eur...
Why some entrepreneurs start more firms
New research on China shows that entrepreneurs who start multiple firms are more productive on average – but this conceals a troubling pattern: some succeed not because of skill, but because of preferential access to finance.
How central banks lose credibility – and why it matters
Central banks can lose credibility quickly when policy decisions are seen as politically driven. Evidence from Brazil shows that even a single ungrounded policy shift can unanchor inflation expectations and deteriorate inflation dynamics.
