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A Review Of Economic Studies On The Opioid Crisis – Analysis
Opioid misuse in the US is estimated to cost over $500 billion annually, with fatalities from opioid overdoses exceeding the American death count from the Vietnam War. This column examines the causes...
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Vernacularization And Linguistic Democratization – Analysis
The use of a language in written and formal contexts that is distinct from the languages used in everyday communication – such as Latin in early modern Europe and Standard Arabic in the...
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Financial Market Sensitivity To Announcements By The ECB – Analysis
Policy announcements by a central bank policy can have a significant impact on financial markets. This column examines the sensitivity of various asset prices and other metrics to the ECB’s monetary...
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Will Inflation Make A Comeback As Populations Age? – Analysis
Global population ageing will lead to a trend reversal, with saving rates falling, real wages increasing, and greater inflationary pressures. The change in China’s economic model from forced saving...
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Inflation And The Biden Stimulus – Analysis
The fiscal stimulus pushed by the new US administration – much larger that the remaining output gap – has recently triggered a new and fascinating debate on the risk of inflation. This column argues,...
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Few Top Positions In Economics Held By Women – Analysis
Women economists remain underrepresented in leadership positions across the academic world as well as in the private and public sectors. This column uses data from the 2020 edition of the Women in...
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Boosting Women’s Labor-Force Participation To Lift Long-Term Growth – Analysis
As populations age and labour productivity slows, policy agendas that support stronger diversity and inclusion measures could provide a much needed shot in the arm for the global economy. This column...
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Oil Markets, Fracking And The Global Economy – Analysis
Oil markets have long been central to discussions of the global economy, and fluctuations in oil prices frequently gain widespread attention. This column explores the impact of the rising use of...
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Minimum Legal Drinking Age And The Social Gradient In Binge Drinking – Analysis
Teenage binge drinking is more prevalent in Europe than in the US, where alcohol is forbidden to people under the age of 21. This column looks at the relationship between minimum legal drinking ages...
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Peru: Behavioral Strategies To Reduce Teacher Sorting – Analysis
Low-income students are more likely to attend schools with less-qualified teachers, expanding the very achievement gaps that public education should help reduce. Although the problem of teacher...
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Fatal Underfunding? Mortality In Spanish Nursing Homes During First Wave Of...
The COVID-19 pandemic has had a disproportionate impact on older Europeans living in nursing homes. This column finds evidence consistent with a 'fatal underfunding hypothesis', suggesting that the...
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Growing Concentration Of Wealth In Italy: Evidence From New Source Of Data –...
Growing wealth disparities can have corrosive effects on equality of opportunity when they crystallise over time and turn into persistent disparities across generations. This column uses newly...
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Economics And The Study Of Race – Analysis
In the wake of last summer’s Black Lives Matter protests, many have asked themselves what they are doing to tackle racial injustice. For economists, one central question is the extent to which the...
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‘Crime And Punishment’: How Russian Banks Anticipated And Dealt With Global...
Financial sanctions against Russia’s state-owned and controlled banks were imposed consecutively between 2014 and 2019, allowing banks that would potentially be targeted in the future to adjust their...
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What Retirement Policy In US State Courts Tells Us About Aging And...
Faced with extreme old age and even dementia among its judges, some US states have imposed a mandatory retirement age. But this policy may remove experienced judges who are still productive in their...
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Effects Of US-China Trade War On Firms’ Vacancy Postings – Analysis
Tariffs are often advertised as an effective tool to protect or even create jobs in specific industries. Empirical evidence suggests differently. Using data from a Chinese online job portal, this...
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The Long-Run Effects Of Pandemics On Inflation: Why This Time May Be...
How did past major pandemics affect inflation dynamics? This column estimates the long-run effects of pandemics on trend inflation in Europe using historical data since the 14th century. We find that,...
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The Aftermath Of Sovereign Debt Crises – Analysis
There is little consensus on the macroeconomic impacts of sovereign debt crises, despite the regularity of such events. This column quantifies the aggregate costs of defaults using a narrative...
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Working Parents And The Pandemic Labor Market Recovery In US – Analysis
As of June 2021, the US labour-force participation rate had not yet recovered to pre-COVID-19 levels. This column explores how much the aggregate decline in employment between 2020 and 2021 can be...
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Historical Legacies Shaping 2021 Peruvian Presidential Election – Analysis
The 2021 victory of Pedro Castillo as president of Peru is commonly attributed to the support of poor, rural, and indigenous groups. However, profound historical factors also played a role. In...
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Debating Defense Budgets: Why Military Purchasing Power Parity Matters –...
US military spending is said to be greater than the next 11 countries combined. However, the conventional use of market exchange rates to compare across countries dramatically overstates US spending...
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Metals May Become The New Oil In Net-Zero Emissions Scenario – Analysis
Low greenhouse gas technologies require more metals than their fossil fuel-based counterparts. This column estimates supply elasticities and pins down the price impact of the energy transition on the...
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The 2021 Surge In Inflation: A Look At Sticky Prices – Analysis
There is disagreement over whether the current inflation is here to stay. This column argues that sticky-price inflation, which focuses on components of the consumer price index with infrequent price...
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Pollution Trends And US Environmental Policy: Lessons From The Last Half...
Half a century has passed since the US enacted a slate of environmental legislation in the 1970s, including the Clean Air Act, Clean Water Act, and Safe Drinking Water Act. This column reviews the...
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How Barriers To Trade Can Be Barriers To Climate Change Adaptation – Analysis
Global warming is expected to dramatically reduce agricultural productivity in hotter parts of the world. This column considers ways to accommodate that change. Hot, poor countries would benefit by...
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The Latin American Pandemic – Analysis
The impact of the Covid-19 pandemic in Latin America highlighted the challenge of long-standing fiscal and social deficits in a context of overstretched public sector resources. And it deepened a...
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The Bitcoin Challenge: How To Tame A Digital Predator – Analysis
Bitcoin’s market capitalisation reached new peaks in November 2021. This column suggests it is hard to find arguments supporting the cryptocurrency’s current valuation. Even if the financial stability...
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Innovation Versus Imitation: Where All That Chinese R&D Is Going – Analysis
China is aiming to become a technological innovation powerhouse by 2050, with Premier Li Keqiang recently announcing an increase in R&D investments by 7% for the next five years. But greater...
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Younger Generations And The Lost Dream Of Homeownership – Analysis
Homeownership among younger households has been decreasing in several major advanced economies. This column shows that increases in labour income inequality and uncertainty are key drivers of this...
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Immigration And The Care Of America’s Older Population – Analysis
The caregiving workforce in the US will have to dramatically expand to meet the needs of the ageing population. This column argues that less-educated immigration could partially solve the problem....
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