Global Economic Output Looks Slower for 2026, IMF Says
The I.M.F. projected world output growth would fall to 3 percent for the year, a number pushed down by high commodity prices.
Letter from the Governor to Joe Powell MP
Letter from the Governor
Iran’s environmental catastrophe has also wrecked its economy
For several decades, Iran has devoted substantial financial, institutional and political resources to military expansion. It has invested heavily in supporting its regional partners, as well as in pursuing geopolitical influence across the Middle East.
Previously, the Islamic Republic has shown few signs of swivelling its resources toward fixing its ever expanding environmental problems.
IFDP Paper: Multi-Plant Firms, Variable Capacity Utilization, and the Aggregate Hours Elasticity
Domenico Ferraro, Giuseppe Fiori, and Damian PierriWe develop a business cycle model with perfectly competitive product and labor markets in which production requires a minimum labor input, generating endogenous capacity utilization. The aggregate production function is kinked, featuring constant returns to scale below capacity—typically in recessions—and decreasing returns at capacity in expansions.
Surge pricing is broken – but there’s a smarter way to match gig workers with consumers
Surge pricing is unpopular with consumers and drivers alike, but there are ways to reduce its inherent inefficiencies.
Statistical Notice 2026/07 - Bank of England Levy: Notification Document Levy Year 2026/27
Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder
How do economies with open labour markets work? The role of temporary migration in the European Union
This paper studies how temporary migration affects macroeconomic fluctuations and the conduct of stabilisation policies using a two-country DSGE model with search-and-matching frictions and endogenous cross-border labour mobility. The analysis shows that migration responds endogenously to both labour market conditions and exchange rate movements, making it an important channel of cross-country adjustment. Labour mobility alters the transmission of shocks in three main ways.
U.S. Trade Deficit Widens in May on Record Goods Imports
Imports of foreign goods, including pharmaceuticals and equipment for data centers, hit a record high, pushing the monthly trade deficit to its highest level in over a year.
A summer discount on family days out sounds good, but it won’t fix UK tourism
Tony Dunn/ShutterstockThe long summer holidays can be an expensive time for families. The cost of day trips to theme parks or zoos or soft play centres quickly adds up.
Discounts sound like a good idea. So this summer, the UK government has slashed the VAT rate from 20% to 5% on admission to a wide range of family activities.
Trump Promised a Foreign Investment Boom. It’s Getting Harder to Deliver.
The threat of tariffs may have helped push more capital into the United States, but other factors are pushing it away.
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