Deglobalisation and Protectionism

Uri Dadush Trade in goods has slowed markedly since the global financial crisis (GFC), but there is no deglobalisation: most countries have seen increased international integration across nearly all goods, services and factor markets. China has become more self-reliant and is a notable exception in goods trade. Despite some dramatic instances, protectionism has largely been kept at bay and […]

Understanding US inflation in the COVID era

Daniel Leigh, Prachi Mishra, Laurence Ball Why did US inflation surge and where is it heading? This column decomposes the surge into a rise in core inflation, measured by weighted median inflation, and deviations of headline inflation from core. The rise in core mainly reflects the tightening labour market, as captured by the ratio of […]