Which countries are most vulnerable to the industrial rise of China? Mapping Europe’s uneven exposure
Ginevra Aguiari, Francesco Chiacchio, Matteo Falagiarda, Vanessa Gunnella and Emiel Cornelius Marchand The rapid industrial transformation of China creates an uneven distribution of challenges and opportunities across EU economies. The so-called “China shock 2.0” combines a number of developments in China, including a rapid expansion of high-technology manufacturing, a stronger policy focus on industrial self-reliance […]
Claudia Sham: Questions for the Chair
Last week, the Fed raised its policy rate by a quarter percentage point to a range of 3¾ to 4 percent, on a unanimous vote. That’s a notable shift: at the Fed’s meeting six weeks earlier, only three of the twelve voters had favored a hike. In its one sentence of explanation, the FOMC statement […]
Anatomy of a rise: Monetary policy and the post-Covid surge in long-term interest rates
Paul Beaudry Paolo Cavallino Tim Willems The sharp rise in long-term interest rates since 2020 is difficult to explain from slow-moving fundamentals. This column shows that narrow windows around nonfarm payroll releases and speeches by prominent Federal Reserve policymakers capture 80-90% of the observed increase in long-term US yields, despite covering only 24% of trading […]
Economic Size and Economic Power
Ακούστε ή διαβάστε εδώ την ομιλία του Πωλ Κρούγκμαν, στο πλαίσιο του ετήσιου ερευνητικού συνεδρίου της ΕΚΤ, όπου αναλύει την έννοια της γεωοικονομικής και το πώς η οικονομική ισχύς και το μέγεθος των κρατών χρησιμοποιούνται ως εργαλεία άσκησης πίεσης – μία συνθήκη την οποία ο Κρούγκμαν περιγράφει με τον όρο αλληλεξάρτηση ως μέσο καταναγκασμού (weaponized […]