Brazil, Chile, Hungary, New Zealand, Norway, Peru, Poland, and South Korea: all raised interest rates early and high. But even after an average hike of six percentage points in the year to October, inflation is surging and growth is sagging. Have the countries in Hikelandia,

Economists are supposed to be good at understanding risk. Decision-making in the face of uncertainty, after all, is the discipline’s bread and butter. Yet at a time when real-world risks – geopolitical, macroeconomic, financial, public-health, and environmental – are piling up, many economists seem to

On February 27, three days after Russia invaded Ukraine, German Chancellor Olaf Scholz stood before a special session of the Bundestag and declared the invasion a “turning point” (Zeitenwende) in German history. In his speech, Scholz also pledged to increase defense spending by €100 billion

The jockeying for position in the global clean-energy race is underway. The United States joined the field just two months ago with the passage of the Inflation Reduction Act. Since then, Austria, for example, has announced a €5.7 billion ($5.6 billion) subsidy package, which alone