Using a unique dataset of more than 1 million loans made by 296 German banks, we evaluate the impact of many aspects of customer–bank relationships on loan default rates. Banks need historical data about their…
The shift of employment from lower to higher productive firms is an important driver for structural change and industry dynamics. We investigate this reallocation in terms of employment gains and losses from…
A growing literature investigates how firms’ innovation input reacts to changes in the business cycle. However, so far there is no evidence whether there is cyclicality in the effects of innovation on firm…
Die Digitalisierung und Automatisierung der Wirtschaft schreiten immer weiter voran. Insbesondere die Vernetzung von IT- und Geschäftsprozessen (Industrie 4.0) ermöglicht immer neue Anwendungs- und…
Technological change is increasingly turning the value chain into an automated and digitalised process. The digitalisation and automation of manufacturing processes is characterised by the use of increasingly…
This paper studies the maturity structure of sovereign debt in the euro area and the penetration of the sovereign debt stock with a new type of collective action clauses (CACs), labeled Creditor Participation…
This paper investigates the impact of energy policies on the export performance of firms. There has been a long policy debate on potentially negative impacts of cost-increasing energy policies on international…
