Building up sufficient capital for old-age provision often is a challenge for private households. For homeowners, one way to generate old-age income from illiquid housing wealth is the use of equity release…
COVID-19 placed a special role on fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Germany’s economy benefited from large and…
The Fourth Industrial Revolution (4IR) presents a major technology transformation towards a data-driven economy, associated with both high costs and potential benefits. We build and estimate a dynamic discrete…
This paper explores the role of 4.0 technologies in three dimensions. First, we examine the patterns and trends in the emergence of 4.0 technologies in Europe, differentiating between technology groups (core,…
This paper investigates the importance of correspondent banking for trade and firm performance in emerging Europe. We exploit the unexpected "structural break" in the U.S. regulator’s enforcement of financial…
Representation of women and minorities in a “selectorate”—the group that chooses an organization's leaders—is a key mechanism for promoting diversity. We show that representation, on its own, is not…
