The economic consequences of the second Trump administration: A preliminary assessment @GaryGensler @baselinescene @upanizza @bweder ow.ly/XMzZ50WbrAk

US imports from China have fallen substantially since the first Trump trade war. But how far have US supply chains actually decoupled from China, and what happened when a new round of tariffs arrived in 2025? @ChadBown (@PIIE) joins Tim Phillips this week on #VoxTalks Economics to discuss new research that examines US imports product by product, including consumer electronics, clothing and footwear, and AI-related imports. This product-level approach reveals how responses differed markedly across sectors. The discussion also delves deeper into the costs of maintaining more diversified supply chains, and why understanding the effects of the 2025 trade war requires looking beyond headline tariff rates to the details of individual products and sources. 🎧 Listen to the latest episode now: ow.ly/Usco50ZRvCI #Economics #Trade #UsTrade #China #Tariffs #TradePolicy

How minimum wages reshape firms and their productivity from within Nicholas Lawson @DalhousieU, Claire Lelarge @UnivParisSaclay, Grigorios Spanos @GSEM_UNIGE @unige_en ow.ly/hOt950ZRkQ4

Measuring what work generative AI does: Survey evidence versus chat logs Alexander Bick @stlouisfed @STLFedResearch, Adam Blandin @VanderbiltEcon, David Deming @ProfDavidDeming @Kennedy_School, Tyler Schumacher @VanderbiltEcon ow.ly/E6wU50ZRk87

What happens when a country’s population doesn’t just age, but its rural areas also begin to empty out? In this episode of VoxTalks Economics, @eli_gnn (@CREIResearch) speaks with Tim Phillips about her research on ageing, depopulation and regional inequality in Japan. What happens as younger people move towards places with stronger labour markets and amenities, while shrinking areas face declining local services and higher costs of public provision? And could policy reverse this trend? The authors model transfers to Japan’s five oldest prefectures, financed by a labour income tax on Tokyo residents. Sustained over a long period, these transfers can substantially increase the population of ageing regions and reduce their elderly share. But there is a trade-off: the policy also lowers aggregate income per capita and increases fiscal spending per person. The takeaway? The question is not whether there is a free solution, but how much society is willing to pay to reduce spatial inequality and preserve life in declining regions. Listen to the full conversation now: ow.ly/2rS250ZzUeb #VoxTalks #Japan #PopulationAgeing #RegionalInequality #Economics

How data centres affect electricity prices and for whom Cameron Scalera @ColumbiaSIPA @EIEEorg, Valentina Bosetti @Unibocconi, Filippo Pecci @EIEEorg ow.ly/p8K750ZQS8b

The quality of capital allocation in Europe By: Giovanni Nicolazzo ow.ly/1UYB50ZQS6z

The energy transition: Progress and challenges Natalia Fabra @NataliaFabra @CEMFInews, Mar Reguant @CSIC @bse_barcelona @NUEconomics @NorthwesternU ow.ly/YWzI50ZQrtw

Catch up on #VoxTalks Economics with an episode featuring @MonnetEric (@PSEinfo) in conversation with Tim Phillips, recorded at the PSE-CEPR Policy Forum 2026. The discussion revisits one of international macroeconomics' best-known ideas: the monetary policy trilemma. Drawing on a newly digitised dataset of central bank balance sheets spanning 1891–2019, Monnet explains how historical evidence suggests central banks have long used their balance sheets to respond to international financial shocks, not only through interest rates, but also through liquidity provision and financial market operations. The conversation also explores how these historical records were assembled, why they matter for understanding monetary policy, and what they imply for the way economists think about central bank autonomy today. 🎧 Listen to the episode now: cepr.org/multimedia/absorbin… #Economics #CentralBanks #MonetaryPolicy #EconomicHistory #Macroeconomics #CEPR #PSE

Building resilience to global financial shocks in emerging markets Annamaria de Crescenzio, Etienne Lepers @etienne_lepers @OECD @OECDeconomy ow.ly/6IJ050ZQ13P

Productive firms can better spot and deploy their internal talent Ricardo Alonso @LSEEcon, Jed DeVaro @EastBayCBE, Antti Kauhanen & Nelli Valmari @AaltoUniversity ow.ly/nRS650ZQ0N8

Anatomy of a rise: Monetary policy and the post-Covid surge in long-term interest rates Paul Beaudry @ubcVSE @UBC, Paolo Cavallino @BIS_org, Tim Willems @timwillems85 @bankofengland ow.ly/hVw350ZPyBH

How much does inheritance law shape who ultimately receives our wealth? In much of the world, people are not entirely free to decide who inherits their estate. In many civil-law countries, minimum shares are reserved for children, spouses and, in some cases, parents. Switzerland loosened these rules in 2023, reducing the compulsory share for children by one third and removing it altogether for surviving parents. In the latest episode of #VoxTalks Economics, @Marius_Brulhart (@HECLausanneEcon) joins Tim Phillips to discuss what these changes can tell us about inheritance, the diffusion of wealth, and the trade-offs between giving people greater freedom over their estates and using inheritance taxation to redistribute wealth. With his co-author, they analysed almost 17,000 anonymous wills written before and after the reform to see how people responded to this greater freedom. 🎧Listen to the latest episode now: ow.ly/enns50ZPBrQ #VoxTalks #Economics #Inheritance #WealthInequality

Beyond trade diversion: How the US-China trade war reshaped global production Harald Fadinger @univienna, Lei Li @uniGoettingen, Sophia Praetorius @unige_en, Jan Schymik @EconUniMannheim ow.ly/oGIq50ZPy4U

Why we spend so much time in meetings David Deming @ProfDavidDeming @Kennedy_School, Katrine Løken @KatrineLoken, Alexander Willén @ALPWillen, Yaling Xu @NHHnor @NHHEcon ow.ly/qzoW50ZPx3n

New jobs in 140 years of data: Why the AI displacement fear is overstated — and what to worry about instead William Skoglund & Jakob Molinder @Jakobmolinder (Uppsala University), Kerstin Enflo @kerstinenflo @lunduniversity @LuEconHist ow.ly/Eq8I50ZP0Zy

Fiscal unsustainability and capture: $40 trillion Treasury debt does not measure the risks; enhanced long-term repurchases don't improve them Willem Buiter @willem_buiter ow.ly/3gcc50ZP0Ee

Energy markets under chokepoint stress: The 2026 Hormuz shock Simone Emiliozzi, @FabriFerriani, Andrea Gazzani, Marco Taboga, & Giovanni Veronese @bancaditalia @UfficioStampaBI ow.ly/yYeP50ZOBfy

Catch up with VoxTalks Economics, recorded at the PSE–CEPR Policy Forum 2026. In this epsiode, Tim Phillips speaks to three rising economists about work that challenges conventional wisdom. 🔹@GuidoLamarmora (@UoNEconomics) shows that once land is taken into account, low-income countries can actually have relatively high agricultural productivity, rather than low productivity. 🔹@CostanzaTomase1 (@ImperialBiz) uses a natural experiment from Mexico to examine how firms respond to energy shocks. 🔹Mushegh Tovmasyan (@UnivParisSaclay) uses detailed Armenian trade data to study what happened following sanctions on Russia. And as an added bonus, all three researchers share their views on where AI can help economics students and researchers, and where using it risks becoming a substitute for thinking. 🎧Listen now: ow.ly/m5K850ZxmaV #VoxTalks #FrontiersofEconomicResearch #AI #NextGen

Financing the startup J-curve Thomas Hellmann @OxfordSBS @UniofOxford, Alexander Montag @warwickuni, Joacim Tåg @IFN_en @IFN_Stockholm @Hanken_fi ow.ly/jlRG50ZOAw6

How exchange rate policy reshapes global supply chains and productivity growth Paul Bergin @ucdavis @UCDavisEcon Woo Jin Choi & Ju Hyun Pyun @KoreaUniv_1905 ow.ly/BAKp50ZOA8a