A Few White Papers
you are currently viewing::The Global Versus Local Identification of Macroeconomic DamagesJune 30, 2026--Key takeaways: The EDHEC Climate Institute (ECI) acknowledges the paper's contribution to the field at large. It nevertheless reaffirms the unique strengths of granular approaches, particularly their ability to capture spatial heterogeneity and decompose aggregate effects. Its value lies in testing whether standard local-temperature approaches may understate aggregate damages by missing common shocks or supply chain-propagated effects. Its limitation lies in the loss of heterogeneity information, diluted within an aggregate effect, that scenario users increasingly require. Source: Edhec Business School |
IMF-Understanding Global Imbalances
April 6, 2026-Summary
Against the backdrop of persistent and recently widening global imbalances, the paper presents a structured framework for understanding how domestic policies can influence current account positions by altering domestic saving and investment decisions. Staff analysis finds that traditional macroeconomic policies remain the dominant drivers of imbalances, but certain types of industrial policies could also play a role.
