Publications

Assessing Tax Expenditure Reporting in G20 and OECD Economies

and | 6 November 2018
Discussion Notes, Fiscal | Tags: G20, OECD, Tax Expenditures
Governments worldwide pursue public policy objectives through direct spending and tax expenditures (TEs). Interestingly though, and despite their significant impact on government budgets, TEs are opaque and very often not subject to the same level of scrutiny in the budget process as direct spending. This ... continue reading

Investor-State Dispute Settlement: An Anachronism Whose Time Has Gone

| 24 September 2018
Policy Briefs, Trade | Tags: Investment, ISDS, Services Trade
Investor-State Dispute Settlement (ISDS) – a mechanism that allows foreign investors to bring claims against host governments to an international arbitral tribunal – is a postcolonial relic that should be abolished. ... continue reading

Central Banks Should Reflect Climate Risks in Monetary Policy Operations

| 10 September 2018
Monetary, Policy Briefs | Tags: Asset purchases, Central Banks, Climate risk, Collateral framework
The transition to a low-carbon economy requires a shift in capital allocation from incumbent carbon-intensive technologies to new low-carbon technologies. Financial markets play a key role in this process: they influence firms’ investment costs and serve as reference point in investors’ decisions. Currently, there ... continue reading

Climate Change and Finance: What Role for Central Banks and Financial Regulators?

, , , , and | 7 September 2018
Blog, Monetary | Tags: Central Banks, Climate Change, Environment, Financial Regulation
Climate change poses risks to the financial system. Yet our understanding of these risks is still limited. As we explain in a recent paper published in Nature Climate Change, central banks and financial regulators could contribute to the development of methodologies and modelling tools for ... continue reading

Mend It, Don´t End It: The case for upgrading the G20’s pledge on protectionism

, , , , , , , , , , , , , and | 3 September 2018
Policy Briefs, Trade | Tags: Protectionism, Services Trade
Despite neutering the official monitoring of protectionism, unmistakable evidence assembled from state sources demonstrates that G20 members routinely violate their “no protectionism” pledge. ... continue reading