Understanding Global Imbalances
Against the backdrop of persistent and recently widening global imbalances, the paper presents a structured framework for understanding how domestic policies can influence current account positions by altering domestic saving and investment decisions. Staff analysis finds that traditional macroeconomic policies remain the dominant drivers of imbalances, but certain types of industrial policies could also play […]
From World War Trade to domino regionalism: The emergent global trading order
Richard Baldwin President Trump’s April 2025 tariffs triggered global trade conflict. This column introduces “World War Trade: Conflict, Containment, and the Emergent World Trading Order”, a new CEPR Rapid Response book arguing that while the old trading order was destroyed, a growing share of global commerce is drawn into existing regional trade arrangements. Driven by […]
Επαναπατρισμός αποθεμάτων χρυσού από τις κεντρικές τράπεζες, 2000-2025 (% αποθεμάτων χρυσού στο τέλος του 2025)
