1. Discussion and Working Paper // 2021

    The fight against financial crime: How global banks' de-risking affects trade and the local economy

    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…

  2. Discussion and Working Paper // 2021

    Representation is Not Sufficient for Selecting Gender Diversity

    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…

  3. Discussion and Working Paper // 2021

    Die Online-Plattform MINE - eine Brücke zwischen Umwelt und Wirtschaft

    The sustainable management of natural resources is one of the most important tasks humanity faces. The interdisciplinary online platform MINE-Mapping the Interplay between Nature and Economy…

  4. Discussion and Working Paper // 2021

    Price Matching Guarantees and Collusion: Theory and Evidence from Germany

    On May 27, 2015, the Shell network of gas stations in Germany introduced a Price Matching Guarantee (PMG) available to its card-carrying members. In the ensuing weeks, a series of attempts at tacit collusion…

  5. Discussion and Working Paper // 2020

    Importing Inequality: Immigration and the Top 1 percent

    In this paper we study the contribution of migrants to the rise in UK top incomes. Using administrative data on the universe of UK taxpayers we show migrants are over- represented at the top of the income…