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.

As we enter the second half of the year, and after a first half marked in particular on the economic front by the tariff war initiated by the United States, we suggest that we pause and look back for a moment. This will allow us to understand the dynamics that have shaped our economies over the last six months. It will also help us to identify to what extent and in what way they will impact the economic outlook for the second half of the year. What scenario should we expect? Hosted by Ausha. See ausha.co/privacy-policy for more information.

To highlight the publication of the second quarter issue of EcoPerspectives Emerging Economies, three members of the Emerging Economies team speak in ‘MacroWaves’: Christine Peltier, Cynthia Kalasopatan Antoine and Lucas Plé. This is an opportunity to take stock of the specific challenges facing countries. In this podcast, our economists review the consequences of US tariff increases on global growth, the dynamics of international trade reconfiguration, and the reorganisation of value chains. We will analyse the effects of these upheavals on emerging countries. Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this new Podcast, we take a look at the short- to medium-term economic outlook for the major advanced economies, analysing the impact of trade tensions, the room for manoeuvre available and the expected economic dynamics. #growth #inflation #monetarypolicy #us #eurozone #uk Reading advice : Équipe Économies Avancées | EcoPerspectives — Économies Avancées | 2ème trimestre 2025 – Etudes Economiques – BNP Paribas (https://economic-research.bnpparibas.com/Publication/23193/fr-FR) Sound credit : Extact from the speech of Pierre-Olivier Gourinchas, chief economist at the IMF, during the IMF World Economic Outlook' press briefing, April 2025. # Press Briefing: World Economic Outlook, April 2025 - YouTube (https://www.youtube.com/watch?v=J9mltmK4EOI) Extract from Jérome Powell's speech at the May 7, 2025 FOMC press conference. # FOMC Press Conference May 7, 2025 (https://www.youtube.com/watch?v=8oX4RCJJXAM) Extact from the speech by Christine Lagarde, Président of the ECB, at the announcement of the ECB's latest monetary policy decisions, April 17, 2025. # President Lagarde presents the latest monetary policy decisions – 17 April 2025 (https://www.youtube.com/watch?v=tgm5H6UUbS0) 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.