S6 Ep23: Immigration and public goods
Voters fret that immigration overcrowds local schools, overwhelms hospitals, and that they will have to pay higher taxes as a result. Are those fears justified? Anna Maria Mayda and Mine Senses have separated fact from fiction, and they tell Tim Phillips about which US counties benefit most and least from the arrival of immigrants.
28m Jun 23, 2023
28m
S6 Ep22: The impact of trade sanctions
Do Europe’s trade sanctions hurt Russia, or do they hurt European firms more? Gauging the impact of sanctions isn’t easy or reliable, but Jean Imbs tells Tim Phillips about a new way to estimate their effects, and what it tells us about the economies of Russia and Europe.
18m Jun 16, 2023
18m
S6 Ep21: How male and female economists collaborate
When there are more women in the workplace, that means either more gender diverse teams, or more collaboration between women. There are more female economists now, so how is that reflected in the way researchers collaborate? And what type of teams produce the best results? Anja Prummer talks to Tim Phillips about gender diversity, homophily, and whether she should have chosen a male co-author.
18m Jun 09, 2023
18m
S6 Ep20: Power and progress
Digital technology, and AI in particular, is getting a lot of hype at the moment. Daron Acemoglu thinks that unchecked techno-optimism is concentrating power in the hands of a super-wealthy elite, threatening the livelihoods of the rest of us, and undermining democracy. Tim Phillips talks to him about why he wrote his new book called Power and Progress, co-authored with Simon Johnson, how we ca...
28m Jun 02, 2023
28m
S6 Ep19: Implementing central bank policy in China
How do China’s government-owned commercial banks respond to informal guidance from The People’s Bank of China? Their reaction to recent guidance designed to cool off mortgage lending offers a fascinating insight into how the banking sector works in China. Michel Habib of the University of Zurich talks to Tim Phillips.
16m May 26, 2023
16m
S6 Ep18: How much inflation did Covid fiscal support cause?
In 2020 finance ministers threw their fiscal policy plans into the bin and did everything they could to protect and stimulate Covid-hit economies. How much of the spike in inflation did the Covid rescue cause? Galina Hale talks to Tim Phillips.
26m May 19, 2023
26m
S6 Ep17: American precious metals and the rise of the West
Between the 16th and 18th centuries, at least 180,000 tons of silver and around 4,000 tons of gold were extracted from the Americas and transported to Europe. How much of western Europe’s economic transformation can be attributed to this windfall? Yao Chen tells Tim Phillips about new research that upends the conventional wisdom.
21m May 12, 2023
21m
S6 Ep16: Does politics sell newspapers?
When the political debate hots up in the world’s largest democracy, is this good for newspaper circulation? Guilhem Cassan talks to Tim Phillips about how to make a causal link from Indian politics to how many newspapers are sold, and what sort of papers they are.
20m May 05, 2023
20m
S6 Ep15: A troublesome transition
Emerging economies need to undergo a green energy metamorphosis, which for many of them has only just started. But can they transform without creating greenflation, or reducing output? Florencia Airaudo tells Tim Phillips about the sobering conclusions of a new analysis of possible policy options.
23m Apr 28, 2023
23m
S6 Ep14: How should we measure expected inflation?
There is more than one way to measure expected inflation. But which methods are most reliable, and how well did they predict the upward trend in European inflation from 2021 onwards? Ricardo Reis talks to Tim Phillips.
18m Apr 21, 2023
18m
S6 Ep13: Corporate taxation and carbon emissions
How does the rate of tax that firms pay relate to their carbon emissions? If firms that pay less emit more, then taxation may be delivering a subsidy on pollution. If those that pay less emit less, then taxation may also be helping to protect the environment. Luigi Iovino and Julien Sauvagnat of Bocconi University tell Tim Phillips whether browner firms pay more or less tax – and why.
19m Apr 14, 2023
19m
S6 Ep12: What’s missing from climate risk stress tests
Stress testing can potentially capture the impact of climate change on the health of the financial system. But Dirk Schoenmaker tells Tim Phillips that, in their current form, these exercises underestimate the impact of changes in our climate.
18m Apr 06, 2023
18m
S6 Ep11: Hobbesian wars and the separation of powers
When Thomas Hobbes published Leviathan in the 17th century, he argued that the state has absolute authority over its citizens. The principal that the state’s monopoly of institutionalised violence keeps the peace is now widely accepted – but is this true, or is it the checks and balances on that power prevent conflict? Gerard Roland talks to Tim Phillips.
19m Mar 31, 2023
19m
S6 Ep10: Larry Summers on the global economy
Bonus episode: At the American Economic Association’s annual meeting 2023 in New Orleans, CEPR got the chance to ask Larry Summers three big questions about the global economy in 2023 and beyond.
6m Mar 29, 2023
6m
S6 Ep9: Building a resilient vaccine supply chain
What have we learned about how to create, manufacture, and distribute a new vaccine? Can countries cooperate to create a responsive and resilient supply chain if history repeats itself, and should the WTO have a role? Chad Bown talks to Tim Phillips.
29m Mar 24, 2023
29m
S6 Ep8: Applying economics (not gut feel) to ESG
Every CEO, investor, and NGO needs an ESG strategy, and they need it now.  But is that urgency making smart people ignore established insights from decades of economic research? Alex Edmans has identified 10 ways in which conventional ESG wisdom might be misguided, and he tells Tim Phillips what they are.
23m Mar 17, 2023
23m
S6 Ep7: AI is reshaping economic research
We’ve reached a moment at which large language models like ChatGPT have clearly become useful, but for what exactly? Anton Korinek has discovered at least 25 ways in which economics researchers can use them today. He explains to Tim Phillips about how they are already making our research more efficient.
30m Mar 10, 2023
30m
S6 Ep6: Powerful forces are reshaping global trade
Firms have discovered that global value chains are not as resilient as we assumed. They are reorganising these value chains and re-evaluating their approach to globalisation – but are the solutions they are considering worse than the problems themselves? Tim Phillips talks to Beata Javorcik, EBRD chief economist.
15m Mar 03, 2023
15m
S6 Ep5: Fair pay for CEOs!
What motivates CEOs? Do they want to be fabulously rich or are they looking for a fair reward for their achievements? And, if fairness really does matter to them, how do you structure their contracts? Pierre Chaigneau talks to Tim Phillips about how to keep your CEO without rewarding failure.
22m Feb 24, 2023
22m
S6 Ep4: Do cultural stereotypes influence bank investment?
We know that national stereotypes influence all sorts of personal decisions, but could they determine whether one country’s banks hold another country’s sovereign debt? Amazingly, Orkun Saka tells Tim Phillips, the answer might actually be yes.
16m Feb 17, 2023
16m
S6 Ep3: Rebuilding Ukraine’s labour market
Russia’s war on Ukraine hasn’t just destroyed buildings and lives, it has put thousands of people out of work and denied thousands more an education. After the war, how can Ukraine rebuild its labour market? Tito Boeri tells Tim Phillips about how other countries and Ukrainian refugees can help to build back better.
15m Feb 10, 2023
15m
S6 Ep2: Slavery and the industrial revolution
Did slaveholding accelerate the industrial revolution in Britain? This controversial theory was first argued by Eric Williams almost 80 years ago but has lacked strong supporting evidence – until now. Stephan Heblich and Joachim Voth talk to Tim Phillips.
27m Feb 03, 2023
27m
S6 Ep1: Who pays for your credit card rewards?
Credit cards that offer cashback or rewards are increasingly popular. Are you doing better or worse as a result? And how big is the financial difference between all the winners and losers? Andrea Presbitero knows and the amount, he tells Tim Phillips, is bigger than you think.
29m Jan 20, 2023
29m
S5 Ep54: Understanding US inflation
Can we explain what happened to inflation in the US in 2022, and what will happen next? Larry Ball and Daniel Leigh tell Tim Phillips why it stayed high and when it may fall.
14m Dec 09, 2022
14m
S5 Ep53: Do content moderation laws work?
Germany’s NetzDG Law has given social media companies the responsibility for removing toxic content from their platforms. Can a law to mandate content moderation curb hate speech and, if it does, does that have an impact in the offline world? Carlo Schwarz talks to Tim Phillips.
17m Dec 02, 2022
17m
S5 Ep52: How empires rise, and how they fall
In the industrial age many new empires quickly rose and eventually fell. Kerem Cosar and Roberto Bonfatti tell Tim Phillips how important shifting patterns of trade have been in this process.
15m Nov 25, 2022
15m
S5 Ep51: The great carbon arbitrage
What is the net benefit of phasing out coal and replacing it with renewables? $85 trillion, according to a new calculation. Alissa Kleinnijenhuis and Patrick Bolton tell Tim Phillips how they estimated this extraordinary number, how the benefit can be realised – and whether the negotiations at COP27 will get us there.
28m Nov 18, 2022
28m
S5 Ep50: How does trade policy affect competition?
How does a bilateral trade agreement affect the amount of competition in both countries? New data casts doubt on the conclusions that trade economists have drawn in the past, Meredith Crowley tells Tim Phillips.
21m Nov 11, 2022
21m
S5 Ep49: How did inflation get so high?
Ricardo Reis tells Tim Phillips why many advanced economies ended up with inflation levels that we haven’t seen for a generation. Did policymakers make mistakes, or do we need to change the entire policy framework?
19m Nov 04, 2022
19m
S5 Ep48: Climate and debt
Mitigating and adapting to climate change is economically rational. But it is also expensive, it’s not clear how the cost should be financed, or which countries or actors assume the burden. The 25th Geneva Report from CEPR investigates these questions. Beatrice Weder di Mauro and Ugo Panizza tell Tim Phillips about the report’s conclusions.
23m Oct 28, 2022
23m
S5 Ep47: Slowing the spread of the next epidemic
Whether it’s a return of Covid-19 or another epidemic, we now know much more about the best policies to protect economies while limiting the spread of infection from place to place. Flavio Toxvaerd tells Tim Phillips about new research on what will work next time.
20m Oct 21, 2022
20m
S5 Ep46: How does climate change affect asset prices?
Heat stress from climate change affects the economy, so does it change the cost of issuing debt or the return on equities? Viral Acharya has investigated how this climate risk is priced, and he tells Tim Phillips how it raises the cost of borrowing most for the places and firms that can least afford it.
22m Oct 14, 2022
22m
S5 Ep45: How social media influences the news
We know that millions of people get their news from social media, but does Twitter influence what traditional news outlets report as well? Julia Cagé tells Tim Phillips about a new study of 2 billion tweets.
18m Oct 07, 2022
18m
S5 Ep44: Violence against women at work
When a man is violent to a woman at work, is the outcome different compared to when a man is the victim? A new study reaches some disturbing conclusions. Abi Adams-Prassl talks to Tim Phillips.
17m Sep 30, 2022
17m
S5 Ep43: The illusion of control
We need a financial system, but does that mean we must also have regular financial crises? Regulation and risk management attempt to eliminate them, but does the cost and effort simply deliver what Jon Danielsson, in his new book, calls The Illusion of Control? He tells Tim Phillips that systemic risk is higher now than it was in 2008.
23m Sep 23, 2022
23m
S5 Ep42: Does inequality create growth?
If we are less equal, is that good or bad news for economic growth? Reto Foellmi reviewed the research, and he has some answers for Tim Phillips.
19m Sep 16, 2022
19m
S5 Ep41: Ghost firms and tax fraud
The problem of fake firms that issue fake receipts so that clients can claim fraudulent tax deductions is widespread but hard to stop, and it’s costing governments everywhere billions in lost revenues. Dave Donaldson and Dina Pomeranz talk to Tim Phillips about how the tax authority in Ecuador recouped lost revenues.
19m Sep 09, 2022
19m
S5 Ep40: Our workless future
As intelligent autonomous machines become better at doing all our jobs, will there be enough work and income to go around? If only some of us work, who will that be, and what happens to the rest of us? Anton Korinek talks to Tim Phillips.
21m Sep 02, 2022
21m
S5 Ep39: The political economy of lockdown
During the Covid-19 pandemic governments had to take unpopular measures to restrict our freedoms, and we had to choose whether we did what we were told. Were governments in countries with free media more likely to act – and were their citizens more likely to comply? Tim Besley and Sacha Dray talk to Tim Phillips about their new research.
21m Aug 12, 2022
21m
S5 Ep38: Divest or engage?
When pension giant ABP faced protests about its fossil fuel investment strategy, did it choose to exert pressure on oil companies or divest from them? Jeff Wurgler and Dirk Schoenmaker talk to Tim Phillips about how the finance sector can accelerate a green transition.
22m Aug 03, 2022
22m
S5 Ep37: Yellow vests and carbon taxes
Opposition to a carbon tax was at the root of the gilets jaunes protests in France. Did the protestors think the tax wouldn’t work, or that it wasn’t fair, or that they would personally lose out? Adrien Fabre talks to Tim Phillips about the link between tax and trust in government.
12m Jul 29, 2022
12m
S5 Ep36: Distracted donors and political violence
When aid donors are distracted by domestic concerns, do aid recipients take advantage to suppress political opposition? Data from Africa suggest that they do, Dominic Rohner tells Tim Phillips. Photo: Alisdare Hickson.
13m Jul 27, 2022
13m
S5 Ep35: The global real interest rate
Global real rates are stuck at a low level, and until recently policy rates everywhere were effectively zero. Can we use historical data to explain why this happened, and to predict whether we will be back at the ZLB when inflation falls? Pierre-Olivier Gourinchas and Ricardo Reis talk to Tim Phillips.
24m Jul 20, 2022
24m
S5 Ep34: Covid-19’s impact on innovation
The Covid crisis inspired extraordinary innovation. Carsten Fink and Reinhilde Veugelers are two of the editors of a new ebook from CEPR called Resilience and Ingenuity that examines how countries, organisations and industries were able to innovate. Tim Phillips asks them what worked, what didn’t, and whether we can keep up the pace of new ideas. 
16m Jul 15, 2022
16m
S5 Ep33: Causes and costs of populism
Recorded live at CEPR Paris Symposium 2022: Across Europe and beyond, populist movements have recently flourished. What does history teach us about the economic impact of populism – and is our taste for populists a bug or a feature of democracy? Tim Phillips talks to Moritz Schularick and Massimo Morelli.
15m Jul 13, 2022
15m
S5 Ep32: Levelling up Europe’s left-behind places
Recorded live at CEPR Paris Symposium 2022: In his resignation speech this week, Boris Johnson said that "we need to keep levelling up, to keep unleashing the potential of every part of the United Kingdom". But are Europe's policies to "level up" left-behind places working? Henry Overman tells Tim Phillips why regional disparities are so persistent.
20m Jul 08, 2022
20m
S5 Ep31: Closing the European data gap
Recorded live at CEPR Paris Symposium 2022: Researchers and policymakers need data, but in Europe they often cannot access the right data at the right time. Filippo di Mauro and Ugo Panizza invite Tim Phillips for coffee to explain how these problems hold back research and decision-making – and suggest what can be done to close the economic data gap.
14m Jul 06, 2022
14m
S5 Ep30: Curing Covid inflation
Recorded live at CEPR Paris Symposium 2022: Supply chain disruption caused by Covid-19 has fed inflation and hobbled stimulus policies. Sebnem Kalemli Özcan tells Tim Phillips about the only solution to this economic long Covid.
11m Jul 01, 2022
11m
S5 Ep29: Defusing the carbon bombs
Recorded live at CEPR Paris Symposium 2022:  Sanctions against Russia have sent the price of oil and gas rocketing – triggering more, not less, fossil fuel extraction, and some giant projects that have been called “carbon bombs”. Mar Réguant and Rick van der Ploeg tell Tim Phillips that these bombs will explode the climate commitments agreed in Paris in 2015.
19m Jun 29, 2022
19m
S5 Ep28: Inflation and Europe’s public finances
Recorded live at CEPR Paris Symposium 2022: What are the consequences of an extended period of above-target inflation for the euro area? Agnès Bénassy-Quéré and Giancarlo Corsetti discuss policy options with Tim Phillips.
20m Jun 24, 2022
20m