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The US is the world’s sole military superpower. It spends more on its military than the ten next highest spending countries combined. China is now the world’s sole manufacturing superpower. Its production exceeds that of the nine next largest manufacturers combined. This column uses the recently released 2023 update…
Social media influencers account for a growing share of marketing budgets worldwide. This column examines a problem within this rapidly expanding advertising market – influencer cartels, in which groups of influencers collude to increase advertising revenue by inflating each other’s engagement numbers. Influencer…
Artificial intelligence promises to reshape economies worldwide, but firm-level evidence on its effects in Europe remains scarce. This column uses survey data to examine how AI adoption affects productivity and employment across more than 12,000 European firms. The authors find that AI adoption increases labour…
Based on recent projections, the US federal debt is expected to grow to historic highs over the next decade. This column uses the FRB-US model to simulate fiscal scenarios for the US. Across all fiscal consolidations considered, the debt/GDP ratio and interest bill increase at least until 2026-2027. Growth is not a…