Macroeconomic policies for AI
Luca Fornaro, Martin Wolf While some observers argue that artificial intelligence may lead to large productivity gains, there are also concerns that it may lead to technological unemployment and rising inequality by triggering a wave of automation. This column uses a macroeconomic framework to study monetary and fiscal policies for AI. The authors argue that […]
Eurobonds: Despite objections, they are more needed than ever
Olivier Blanchard (PIIE) and Ángel Ubide (Citadel) We argued last year that it was time to create a deep, large, and liquid market for Eurobonds (Blanchard and Ubide 2025). Since then, there has been growing support for the initiative, not just from think tanks and academics (Hildebrand, Rey, and Schularick 2025) but notably from the European Central Bank […]