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Recorded at the PSE-CEPR Policy Forum 2026.
A country wants a stable exchange rate, it wants money to move freely across its borders, and it wants to set its own interest rates. It's a well-known trilemma. Central bankers must pick any two, because you cannot have all three.
History, it turns out, did not read that memo.
Eric Monnet has spent years reading...
If you run a business that exports to the United States, how big is the tariff you have to pay? In 2025 that question was hard to answer. Between February and December, 53 separate announcements introduced, delayed, reinstated or changed US tariffs, with different countries and products pulled in or exempted each time.
Kalina Manova (UCL, CEPR) and her colleagues built...
Recorded at the PSE-CEPR Policy Forum, Paris School of Economics.
Tariffs move trade around, but so does economic power. When one economy dominates, other countries fall into step with it. They trade with the dominant economy, and also with each other.
Alberto Martin (Barcelona School of Economics, CEPR) is one of a team that has tracked the influence of hegemon...
Recorded at the PSE-CEPR Policy Forum, Paris.
In 2019 the IMF called the increasing adoption of industrial policy: "The return of the policy that shall not be named". No one is scared to name it in 2026. Governments in rich and poor economies alike are intervening to change what their countries produce, and the pace has picked up sharply.
Zsóka Kócz...
Recorded at the PSE-CEPR Policy Forum, Paris School of Economics, June 2026.
In 1941 the United States banned oil exports to Japan, to punish aggression without fighting a war. Historians now argue the embargo did the opposite, and hastened Japan's entry into the war.
Isabelle Méjean (Sciences Po, CEPR) calls this "The safety paradox". Trade between...