At a time when multilateralism is needed more than ever to address the global challenges and rising geopolitical tensions, paradoxically, the capacity and delegated power of the United Nations (UN) to uphold a rule-based order to keep peace and security is being weakened. Even in an increasingly...

Large organizations often require employees to collaborate with others who may see the world differently. Yet, little is known about whether misalignment in personal values with managers or colleagues affects performance. Using survey and administrative data from a world-leading bank, we find...

Many governments still help to keep fossil fuels cheap - sometimes by directly paying part of the supply cost (explicit subsidies), and at other times by not including the hidden costs of pollution and health problems they cause in their price (implicit subsidies). But what is the true cost to...

Europe's approach to industrial policy has undergone a dramatic transformation in recent years, with state aid reaching 1.4 per cent of GDP in 2022, levels unseen since the early 1990s. While advocates of substantial state aid argue that this intervention is necessary to maintain competitiveness...

Using a new database on global multinational production (MP), I document that world multinational enterprise (MNE) sales declined as sharply as trade during the Great Recession. This collapse was driven by MNEs from a few key headquarters countries, associated with steeper GDP declines in...

In today's digitally interconnected world, copyright infringement frequently crosses national borders, presenting complex legal challenges for effective enforcement of intellectual property rights in general, and copyright in particular. This paper examines the challenges associated with...

Vorwort: Auf dem Weg zu nachhaltigeren Wirtschaftsformen im Agrar- und Ernährungssektor spielen Innovationen eine bedeutende Rolle. Zur Begegnung von Herausforderungen im Umwelt- und Ressourcenschutz sowie dem Erhalt von Biodiversität sind tragfähige Konzepte gefragt, die in Zeiten von...

This EconPol Report sheds light on the global supply of semiconductors. Our analysis of value-added data for the US underscores the importance of semiconductors for advanced economies. Using global trade data and an extensive list of semiconductor-related goods, we provide a detailed description...

At a time of global crisis and competing priorities, investing in health is among the most impactful and cost-effective decisions governments and stakeholders can make. Beyond being a fundamental right, health is a catalyst for growth, stability and resilience – particularly in uncertain...

The new loss and damage funding framework under the United Nations Framework Convention on Climate Change (UNFCCC) emphasises the importance of channelling support through national systems and mechanisms. This approach could prove particularly challenging for African least developed ountries...

Do sovereign credit ratings take into account physical and transition climate risks? This paper empirically addresses this question using a panel dataset that includes a large sample of countries over two decades. The analysis reveals that higher temperature anomalies and more frequent natural...

This paper investigates the impact of regional institutional quality on economic growth and economic resilience. Using data collected by the Quality of Government Institute, we conduct a two-way fixed effect panel regression model for around 200 European regions during the period 2010 to 2021....

Word embeddings are vectors of real numbers associated with words, designed to capture semantic and syntactic similarity between the words in a corpus of text. We estimate the word embeddings of the European Central Bank's introductory statements at monetary policy press conferences by using a...

This study compares the sustainability of financial innovation, development, and economic growth in India and China, considering macro-economic factors like globalization, inflation, and monetary policies. It addresses the impact of financial development on sustainable economic growth by...

The textile and apparel industries have experienced the arrival of the sustainable fashion revolution, which symbolizes a significant switch towards improving green innovations and lessening environmental effects. As industries highlight sustainability through eco-friendly apparel merchandising...

The complexity of global supply chains and the interconnected nature of resource systems present significant challenges in ensuring equitable resource access and management. Good governance and an effective financial system are vital for managing natural resources sustainably. This study...

We experimentally study how economic prospects and power shifts affect the risk of conflict through a dynamic power rivalry game. Players decide whether to maintain the status quo or challenge a rival under declining, constant, or growing economic prospects. We find that conflict rates are...

Innovation is a cornerstone of economic growth, global competitiveness, and sustainable development. This study analyzes the determinants of global innovation performance (GIP) across lower-middle, upper-middle, and high-income countries using a dynamic panel-data approach with the two-step...

Artificial intelligence (AI) technology has been rapidly evolving, necessitating that discussions on the need and design of regulatory frameworks be taken seriously. This paper reviews literature regarding AI regulations on a theoretical versus a practical level. It examines the different models...