Economics and History Are Inseparable
How can history help us understand the world economists study—and change how we confront the climate crisis?
The UK’s wealth ‘timebomb’ – and how to defuse it
When the full, unexpurgated diaries of the Conservative MP Sir Henry “Chips” Channon were published in 2021, these disarmingly frank accounts of his aristocratic life in mid-20th century Britain caused a stir. They revealed the inner thoughts of a renowned social climber and rightwing snob, whose political career never recovered from his record as an appeaser of Nazi Germany.
Customers can become more loyal if their banks solve fraud cases, researchers find
More than one-third of U.S. consumers were targeted by attempted financial fraud in 2024. Vladimir Vladimirov/E+ via Getty ImagesWhen banks issue their defrauded customers refunds and successfully identify the perpetrators, fraud victims are 60% more likely to stick with their bank than customers that didn’t experience any fraud.
The beauty backfire effect: Being too attractive can hurt fitness influencers, new research shows
“Sex sells” has been a mantra in marketing for decades.
The beauty backfire effect: Being too attractive can hurt fitness influencers, new research shows
“Sex sells” has been a mantra in marketing for decades.
Geopolitical risk, bank lending and real effects on firms: evidence from the Russian invasion of Ukraine
This paper investigates whether geopolitical risk causes a reduction in bank lending. In particular, it focuses on how the increase in geopolitical risk stemming from the Russian invasion of Ukraine affected euro area bank credit supply. Matching granular supervisory and credit register data and using a panel difference-in-difference approach, the results show that banks with larger exposure to the increase in geopolitical risk cut lending significantly more than those with smaller exposure.
The protectionist gamble: How tariffs shape greenfield foreign direct investment
Motivated by current events, this paper assesses the impact of tariff increases on bilateral greenfield foreign direct investment (FDI) over the period 2016-2023. Leveraging a comprehensive dataset of announced greenfield investment projects, official FDI statistics, and bilateral product-level tariff data, we estimate a series of gravity equations to uncover key relationships. Our results show that, at an aggregate level, tariff increases are associated with a rise in greenfield FDI, consistent with the tariff-jumping hypothesis.
FEDS Paper: Does Financial Stress Affect Commodity Futures Traders' Positions?(Revised)
Shengwu Du, Travis D. Nesmith, and Yang HeppeFinancial stress can impact trading behavior in the U.S. commodity futures markets. To clarify the impact, we study absolute changes and relative exposure dynamics in traders' positions during two recent crises: the 2008 Global Financial Crisis (GFC) and the COVID-19 pandemic. The nature of these two crises are very distinct, and we find that traders behaved quite differently.
Singles’ Day is a $150B holiday in China. Here’s why I think ‘11/11’ will catch on in the US
On Nov. 11 each year, a curious holiday takes over China. What began among Nanjing University students in the 1990s as a tongue-in-cheek counter to Valentine’s Day has exploded into the world’s largest shopping event: Singles’ Day.
Minutes of the CBDC Engagement Forum - May 2025
Meeting of the CBDC Engagement Forum
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