This paper provides estimates of the government spending multiplier over the monetary policy cycle. We identify government spending shocks as forecast errors of the growth rate of government spending from the Survey of Professional Forecasters (SPF) and from the Greenbook record. The state of...

The gap between potential and actual output—the output gap—is a key variable for policymaking. This paper adapts the methodology developed in Blagrave and others (2015) to estimate the path of output gap in the U.S. economy. The results show that the output gap has considerably shrunk since...

This paper aims to inform policies facilitating job-to-job transitions triggered by changes in the task content of occupations and in job demand. It assesses the distances existing between occupations in terms of cognitive skills and of skills as they emerge from the tasks performed on the job,...

This paper looks at how digitalisation is transforming innovation, and the consequent need for innovation policies to adapt. The paper shows that the digital transformation affects the economics of information and knowledge, in particular pricing and allocation. The reduced costs of producing...

This work analyses the role of the digital transformation for business dynamics across countries. The analysis combines unique harmonised data on business dynamics for 15 countries with a multi-dimensional measure of digital intensity that takes into account different facets of the digital...