Syndication increases the overlap of bank loan portfolios and makes them more vulnerable to contagious effects. We develop a novel measure of bank interconnectedness using syndicated corporate loan portfolios,…
Over the 2000s, many federal states in Germany shortened the duration of secondary school by one year while keeping the curriculum unchanged. Exploiting quasi-experimental variation due to the staggered…
Germany, in common with other industrial nations, has in recent years witnessed a decline in productivity growth despite sustained economic growth, falling unemployment and strong technological dynamics. A…
The literature on the effects of telecommunications infrastructure investments find positive macroeconomic effects, however, it is severely constrained because it could hitherto only analyze investment up to…
We contribute to the economic literature on patent litigation by taking a new perspective. In the past, scholars mostly focused on specific litigation cases at the patent level and related technological…
In this study, the real demand for global and local environmental protection in Beijing, China, is elicited and investigated. Participants from Beijing were offered the opportunity to contribute to voluntary…
We ask whether a pay-as-you-go financed social security system is welfare improving in an economy with idiosyncratic productivity and aggregate business cycle risk. We show analytically that the whole welfare…
