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Adapting to flood risk: Evidence from global cities | VOX, CEPR Policy Portal

Climate change is increasing the frequency and intensity of disasters, but the ability to cope varies widely across the globe. This column examines how city death tolls and economic activity are affected by flooding. Richer places with the resources and infrastructure to cope with disasters tend to be more resilient. Compared to cities in low-income countries, those in

India , China , Mexico , Australia , United-states , Indonesia , Chennai , Tamil-nadu , American , Development-economics , Journal-of-development-economics

Transatlantic economy policy responses to the pandemic and the road to recovery

In November 2021, the Federal Reserve Bank of New York, the European Commission, and CEPR brought together US- and European-based policymakers and economists from academia, think tanks, and international financial institutions to discuss issues that transatlantic policymakers are facing. This column summarises the principal themes and findings of the conference discussion on

China , New-york , United-states , Russia , Ukraine , Russian , John-williams , Federal-reserve-bank , European-commission , Federal-reserve , Economic-policy-responses , New-federal-reserve

Yellow vests and carbon taxes | VOX, CEPR Policy Portal

Yellow vests and carbon taxes | VOX, CEPR Policy Portal
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France , Tim-phillips , Adrien-fabre , Economics , Evelopment , Esearch , Olicy , Evelopment-economics ,

Variability in the impacts of COVID-19 on student achievement

There is robust evidence that children lost ground academically as a consequence of the pandemic, but less research into how the effects varied by school district and household demographics. Using test data from 2.1 million students across the US, this column finds that remote instruction was a primary driver of widening achievement gaps by race and poverty. The authors argue

Louisiana , United-states , Ohio , American , Rita-sacerdote , American-enterprise-institute-return-to-learn-tracker , Curriculum-associates , Mckinsey-company , Us-census-bureau , School-emergency-relief , Evaluation-association , Hurricanes-katrina

The long-run labour market effects of the Canada–US Free Trade Agreement

Increased import competition has been found to depress labour market outcomes, leading to pessimism that classic gains from trade are worth the accompanying labour market disruptions. This column examines the effect of the 1989 Canada-US Free Trade Agreement. While Canadian workers suffered short-run displacement and earnings losses in response to increased import competition,

China , Germany , New-york , United-states , Canada , Brazil , Canadians , Canadian , Chinese , American , German , Peter-morici

Ruble payments: Shielding the ruble from financial sanctions

There has been much debate over the intentions behind Russia’s March 2022 Presential Decree requiring gas importers to settle gas payments in rubles. This column argues that the scheme is intended to protect the Moscow Stock Exchange from financial sanctions. The decree requires not only that gas payments are settled in rubles, but also that the rubles are obtained on the

Moscow , Moskva , Russia , Italy , Luxembourg , Finland , Bulgaria , Poland , Kremlin , Italian , Russian , Claudia-biancotti

The crime effect of refugees | VOX, CEPR Policy Portal

The impact of refugees on socioeconomic outcomes in destination countries, including crime, can be significant. This column finds that the increase in the refugee population in Turkey led to an increase in the incidence of crime of between 2% and 4.75% per year, correspondsingto about 75,000-150,000 additional crimes per year. These results highlight the need to strengthen the

Ukraine , Syria , Russia , Tumen , Rivnens-ka-oblast- , Germany , Japan , United-states , Kayaoglu , Kastamonu , Turkey , Bali

The optimal inflation target: Views from 600 economists | VOX, CEPR Policy Portal

A key question for any inflation-targeting framework is what the inflation target should be. This column reports findings from a survey of leading economists from around the world on the inflation target and related monetary policy issues. Overall, there was a strong preference for the status quo, with participants seeming to perceive high costs in terms of credibility from

Finland , United-states , American , Martin-wolf , Olivier-blanchard , H-le-bihan , University-of-chicago-press , University-of-chicago , Central-bank , Finland-research-discussion-paper , Federal-reserve , Elsevier

Levelling up productivity gaps in the UK | VOX, CEPR Policy Portal

There are significant regional disparities in productivity levels across the UK. The June 2022 CfM survey asked the members of its UK panel to evaluate the reasons for these disparities and policies that might close the gaps. A majority of the panel believe that the productivity differences are attributable to either agglomeration effects or sorting, self-reinforcing phenomena

United-states , United-kingdom , France , Northern-ireland , Craigavon , London , City-of , Scotland , Britain , American , James-smith , Simon-wren-lewis

The regional development trap in Europe | VOX, CEPR Policy Portal

Many regions in Europe are stuck in a development trap and face significant structural challenges in retrieving past dynamism or improving prosperity for their residents. This column conceptualises what constitutes a development trap at a regional level in Europe and identifies which regions have been trapped or at risk of becoming trapped in recent years. Regional development

China , Italy , Cambridge , Cambridgeshire , United-kingdom , Paris , France-general- , France , European-commission , Europe-european-commission , Regional-studies