Puzzles in the world economy
Welcome to Global Currents, a source of timely commentary and analysis on key developments in international economic policy…
Challenges to independence: How should central banks respond—lessons from history
I am honored to deliver this conference’s Mayekawa lecture. Governor Ueda asked me to reflect on central bank…
Integrating North American carbon credit markets: Prospects and recommendations
Introduction Carbon credit markets are highly diverse. Globally, at least 24 government-administered programs, including nine in North America,…
The timing of the impending crude crisis
The shortfall in global oil supply due to the closure of the Strait of Hormuz has roiled markets…
No Surprises Act arbitration databook
The No Surprises Act (NSA) established a final-offer arbitration process called independent dispute resolution (IDR) to settle payment…
The global implications of the US military operation in Venezuela
The potential ripple effects of the United States’ military operation in Venezuela on January 3, 2026 extend well…
Employment impacts of the CHIPS Act
The $52.7 billion CHIPS and Science Act of August 2022 directly and indirectly created between 42,465 and 54,385…
Low-income workers experience the most earnings and work hours instability
To assess the compensation of workers, it matters not only how much money they earn, but also the…