VoxTalks Economics

Recorded at the CEPR Paris Symposium. When Russia launched its invasion of Ukraine in 2022, it was already under sanctions for annexing Crimea in 2014. But did the gradual way in which these well intended “smart sanctions” were phased in during the 2010s allow many Russian banks, and their customers, to avoid any negative consequences? Mikhail Mamonov tells Tim Phillips about the consequences, or...

In economically depressed regions of the US – the “heartland” – President Trump’s 2018 trade war was a popular decision: “We’re going to bring jobs back to our country,” he told voters. Did the tariffs he imposed generate jobs? And what was the impact of the retaliatory tariffs imposed by China? David Dorn talks to Tim Phillips about the recent history of US trade policy, and what this means for T...

Recorded at the CEPR Paris Symposium. For two decades Maurice Obstfeld has been researching the causes and consequences of the global trade imbalances in the world economy. Now, as are seeing a retreat from globalisation, they are once again a talking point for President Trump’s trade policymakers. He talks to Tim Phillips about whether the popular narratives about their cause and effect stand up...

Recorded at the CEPR Paris Symposium. In the first of a series of episodes from CEPR’s annual festival of new research, we ask: can artificial intelligence help agencies and governments cope with natural disasters, by making it more practical to take anticipatory action? The topic is the subject of a new policy insight from CEPR, and Tim Phillips speaks to two of the authors: Margherita Philipp an...

A surprising number of children are isolated at school. How can teachers spot this social exclusion, and what can they do to make every child feel included? An intervention in primary schools in Italy gave teachers the information to help them recognise and help isolated children. Michela Carlana of Harvard tells Tim Phillips how identifying the problem can be the first step to solving it. 

After Russia after invaded Ukraine, 45 countries imposed sanctions. Turkiye was among those that did not. Have Turkiye’s exporters filled the gap created by the reduction in exports from other sources? If so, how do they manage the reputational and operational risks in trading with Russia? Giancarlo Corsetti, Banu Demir and Beata Javorcik have used firm-level data to discover whether Turkiye’s fir...

Climate change, and policies that governments implement to address it, increasingly have macroeconomic impacts that are relevant for Central banks. But, within their remit, what actions can monetary policymakers take, and what actions should they take? These are questions that Frank Elderson is well qualified to answer. He is a member of the Executive Board of the European Central Bank and Vice-Ch...

What effect do populist rulers of economic superpowers have on international relations, peace, and inequality? If a populist takes power in one of these countries, does it lead to more conflict in other places? Massimo Morelli describes Donald trump as “The quintessential populist”. As Trump prepares to resume his presidency in the US, he shares some surprising conclusions with Tim Phillips about...

How do men think they should behave? How important is it to dominate, to win, to control women, or to refuse help? How do views on this correlate to economic performance, to men’s physical and mental health, even to politics? Ralph De Haas and Victoria Baranov are two of the authors of research into what masculinity means around the world. They tell Tim Phillips about the surprising differences th...

Bank branches are closing rapidly as banking activity migrates online. What are the consequences, for the public, for a bank’s business customers, or the wider economy? Niklas Amberg and Bo Becker tell Tim Phillips about the unintended consequences for Sweden’s small businesses – and economic activity – of removing face-to-face banking. 

Recorded at the Climate Change and the Environment Conference, organised by the AXA Research Fund and CEPR. We are familiar with frightening images of deforestation, and you’ve heard the warnings of the impact on nature if we do not do a better job of protecting our tropical rainforests. But how can we quantify the gains from reversing deforestation, and at what carbon price is reforestation econo...

The second of three special episodes of VoxTalks Economics recorded at the Climate Change and the Environment Conference in Paris, jointly organised by the AXA Research Fund and CEPR. The green transition needs investment. So who will fund it, and under what conditions? Tim Phillips asks Gilles Moec of AXA and Katheline Schubert of the Sorbonne and PSE about how capital can be mobilised to get us...

The first of three special episodes of VoxTalks Economics recorded at the Climate Change and the Environment Conference in Paris, jointly organised by the AXA Research Fund and CEPR. Weather patterns are changing around the world, and weather-related insurance claims are rising. As climate change increases losses from these events, is it the responsibility of governments to compensate those who lo...

In the early hours of 2 September 1666, a spark in Thomas Farriner's bakery on Pudding Lane in the City of London ignited a blaze that would go on to consume 90% of the City’s houses. But how did economic activity and wealth rebound after the fire? Philipp Ager of the University of Mannheim and Paul Sharp of the University of Southern Denmark have used contemporary records to describe London’s une...

In some places in Europe, young college graduates are more likely to be unemployed than young high school graduates. We assume that jobs are more likely to go to people with more education, so can economics explain why this is happening? Sena Coskun of tells Tim Phillips what is different about these countries – and the young jobseekers in them. 

The saying “don’t be a toad” in Colombia tells people to mind their own business and not to tell on others. The warning that “snitches get stitches” is common to many societies. It’s easy to imagine why groups adopt prosocial norms like sharing and volunteering. But what sustains an “antisocial” norm like this one? James Robinson talks to Tim Phillips about why people dislike but adopt antisocial...

A Nobel season episode: what is the background of the scientists who win the big prize? If talent is equally distributed, but the opportunity to use that talent is not, both individuals and society lose. Paul Novosad and Sam Asher talk to Tim Phillips about the background of the scientists who win the Nobel, and what that tells us about equality of opportunity. 

In May 2022 the Indian government responded to a heatwave that had cut crop yields by unexpectedly banning wheat exports. Ministers spoke of the need for domestic food security, and the important of reducing wheat prices for the India’s citizens. But the policy was unpopular with domestic farmers and in countries that imported wheat, where prices had already risen following the Russian invasion of...

Every year we see thousands of protest movements on our city streets. Most are fuelled by social media. But why do some protests persist, and some disappear. Why do some remain peaceful, but others become violent? Benoît Schmutz-Bloch tells Tim Phillips about how social media gives life to protest movements – but can also hasten their destruction.

US federal debt is expected to grow to historic highs in the next 10 years, and the interest bill for that debt will continue to grow too. But does it matter? Yes, say Giancarlo Corsetti and Riccardo Trezzi They tell Tim Phillips about the unpalatable policy options if the US wants to stabilise its ballooning debt and interest payments. Read their VoxEU column

During the global spread of Covid, governments were forced to rely on NPIs – non-pharmaceutical interventions – such as masks and social distancing. Carol Propper tells Tim about the stunning effectiveness during the pandemic of a less obvious intervention: access to 3G internet in Indonesia.

Organisations don’t just provide employment: they solve, or attempt to solve, important problems in our society. Organisational economics has made some impressive strides in recent years to show what choices organisations make. But there is much less research on how they come up with the strategies that guide those choices. Ghazala Azmat tells Tim Phillips about a new initiative that aims to deepe...

In 2004 75 million people in 10 countries joined the EU. Their GDP per capita has grown dramatically in the last 20 years – but how much of that is due to EU membership, and how much would have happened anyway? Basile Grassi tells Tim Phillips that the enlargement of the EU in 2004 was “a miracle” for the economies of these countries, even though nationalist politicians may argue otherwise.

Today doctors recognise the symptoms of burnout from work-related stress. It’s a common problem, but one that can have serious, long-term consequences for sufferers. New research shows that there are measurable consequences for partners and children too, and lasting effects on fertility. Arash Nekoei and Josef Sigurdsson talk to Tim Phillips about the scale of the burnout burden, and what can we d...

Sending regular small sums of money to households or individuals are go-to policy. Should these transfers be universal or targeted? And how big, and how regular, should the sums be? In another episode based on the most interesting presentations from the CEPR-PSE Symposium 2024, Paul Niehaus explains to Tim Phillips how cash transfers work best to relieve poverty. Picture credit: WFP/Simon Pierre D...