Is stagflation back? In this series of podcasts, William De Vijlder, Group Chief Economist of BNP Paribas, discusses the issue of stagflation, a term that has been increasingly used in the media in recent months. Stagflation, a multi-year phenomenon combining rising unemployment and high inflation, brings us back to the dark days of the 1970s and 1980s, when inflation levels were unprecedented and mass unemployment began. Hosted by Ausha. See ausha.co/privacy-policy for more information.

The convergence of several factors of tension – the health crisis, the war in Ukraine, the tensions in supply chains – is leading us to speak more and more of stagflation. The term is a contraction of "stag" for stagnation in economic activity and "flation" for inflation. William De Vijlder, Chief economist of BNP Paribas, offers a two-part podcasts series on this worrying phenomenon. Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this third and final episode of the series dedicated to labour productivity in Spain, signs of encouragement for a recovery in Spanish productivity are presented, in particular thanks to a national recovery plan (2021-2026) that is in line with the España 2050 strategy, which consists of raising R&D investment. Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this second episode of the series on labour productivity in Spain, Hélène Baudchon and Guillaume Derrien discuss the three main factors that explain Spain's low productivity. Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this series of three podcasts "Focus on Labour Productivity in Spain" Hélène Baudchon, Deputy Chief Economist and Head of the OECD team, BNP Paribas Economics Department and Guillaume Derrien, Senior Economist in the same team, discuss productivity as an endemic weakness of the Spanish model. This first episode reviews the main trends in the evolution of productivity in Spain compared to its European neighbours over the last 25 years. Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this Audiobrief, Stéphane Colliac discusses selfemployment in France. It has been growing again for almost 20 years, particularly in household services, but also in business services. In France, which has created nearly 420000 jobs a year over the last 5 years, self-employment has represented almost one job creation out of 5. Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this Audiobrief, Guillaume Derrien discusses recent evolution of the European Union's trade balance. The latter moved back to a surplus in 2023. Despite China’s ramping up to higher value-added sectors, the EU trade surplus in traditionally buoyant industries (pharmaceuticals, automotive) remains at historically-high levels. Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this audiobrief, Stéphane Colliac describes France’s trade deficit for 2023 main drivers. In addition to a deficit linked to imports of hydrocarbons and a structural deficit reflecting the country’s de-industrialisation, it is also driven by France’s investment in the needs arising from the ecological and digital transition and the electrification of the car industry.   Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In the second podcast on geopolitical uncertainty and its economic consequences, Daniel Morris and William De Vijlder look more closely at the impact of geopolitical uncertainty on firms, households and financial markets. Economic Research Website (https://economic-research.bnpparibas.com/Home/en-US) Hosted by Ausha. See ausha.co/privacy-policy for more information.

In two podcasts Daniel Morris, Chief Market Strategist of BNP Paribas Asset Management discusses with William De Vijlder, Group Chief Economist of BNP Paribas the impact of geopolitical uncertainty on the economy. In this first podcast, they look at economic and geopolitical uncertainty, why it matters and how it can be measured. Clic here to consult the graphic (https://economic-research.bnpparibas.com/Media-Library/en-US/Episode-1-Geopolitical-Uncertainty-Economic-Consequences-12/19/2023,c40181) Hosted by Ausha. See ausha.co/privacy-policy for more information.