April 11, 2024
AnalysisThe Electric Vehicle Developmental State
BYD exemplifies transformations in Chinese industrial policy
The rise of the Chinese EV industry has been enabled not only by generous government subsidies but also by profound changes in strategy and organization, and in particular by a distinctive revival of vertical integration—at both individual firm and national…
Varieties of Derisking
Industrial policy, macrofinance, and the green transition
In recent years, the debate over climate policy has moved away from the earlier consensus in favor of carbon pricing and towards an investment-focused approach, illustrated by the passage of the Inflation Reduction Act (IRA), along with other similar measures…
October 12, 2022
InterviewsWho Pays for Inflation?
A conversation on monetary policy, labor, and the definition of inflation
The inflation of the past year has reshaped the political economic landscape in the United States and around the globe. While the IMF and World Bank echo UN calls about the recession risk of globally-synchronized rate hikes, the debate over…