Initiative for Policy Dialogue

Abstract Fiscal consolidations are widely regarded as contractionary, yet whether the composition of adjustment matters remains an open question, particularly in emerging economies. We study the macroeconomic effects of fiscal consolidation in Latin America using<a class="moretag" href="https://ipdcolumbia.org/"> Read more…</a>

The Employment impacts of the CHIPS act paper with comments, conference discussion summary, and supplements is available in the  Fall 2025 volume of the Brookings Papers on Economic Activity

The Journal of Globalization and Development (JGD) publishes academic research and policy analysis on globalization, development, and in particular the complex interactions between them. The journal is dedicated to stimulating a creative dialogue between theoretical advances<a class="moretag" href="https://ipdcolumbia.org/"> Read more…</a>

We expect the European Union (EU) and United States (US) to travel along very different paths particularly regarding the use of news and other copyrighted works in AI training and development. The two regions have different legal frameworks and traditions, with the US relying on an expansive definition of “fair use” that is not recognized in the rest of the world, while Europe offers data privacy protections that are not present in the US. Building on data provided by the European Union’s Media Pluralism Monitor, this paper discusses different ways of valuing news content, the state of current copyright negotiations between news publishers and prominent AI firms, and the consequences for media sustainability, media diversity and pluralism. We note too that there are multiple proposals for statutory levies on the AI firms that would be distributed to authors. Which, if any, will be adopted is not clear.

We study the optimal design of corporate tax policy in a textbook life-cycle model featuring two key deviations: (i) firms are imperfectly competitive and (ii) households save by purchasing equity shares in a stock market.

Brief prepared for the Foreign Policy’s Roundtable “Managing Volatility: Rethinking Capital Flows in a Fragmented Global Economy”, at the IMF/World Bank 2026 Spring Meetings.

Development policy analysts usually focus on how specific reforms would improve economic or social wellbeing in developing countries. Sometimes analysts broaden their perspective to think about what a comprehensive package of such reforms should look like, paying attention to policy interactions and spillovers. International politics rarely seeks to deliver comprehensive and coherent policy packages. The United Nations has been one global political forum that has periodically sought precisely that, most recently at the Fourth International Conference on Financing for Development in Seville, Spain in June/July 2025. The negotiated outcome of the Seville conference does reflect a coherent vision and promises negotiations toward making it more comprehensive. Admittedly, the consensus is limited to agreeing only to keep talking about unrealized elements of the package and not every government will even join such discussions. This paper draws together and assesses those opportunities, taking account of subsequent challenges to the nature and content of global economic cooperation viewed half a year after the Conference was held.

The Journal of Globalization and Development (JGD) publishes academic research and policy analysis on globalization, development, and in particular the complex interactions between them. The journal is dedicated to stimulating a creative dialogue between theoretical advances<a class="moretag" href="https://ipdcolumbia.org/"> Read more…</a>