A considerable degree of business cycle synchronization is key to a successful operating currency union. The European Monetary Union as well as many other countries strives to attract foreign direct investment…

Several studies document an important relationship between firms' productivity and their internationalisation strategy. Recent evidence suggests that trade liberalization might imply firm growth increasing…

In this paper we examine the nonlinear relation between the EUA price and its fundamentals, such as energy prices, macroeconomic risk factors and weather conditions. By estimating a Markov regime-switching…

Social software applications are increasingly applied in firms and particularly support communication, cooperation and information sharing between individuals. They comprise applications like wikis, blogs and…

The recent economic crisis has resulted in a dramatic deterioration of economic growth and labour market performance in various industrialized countries. There is a widespread view that economies under pressure…

Do higher corporate taxes reduce wages? While this question has been discussed extensively in economics, compelling empirical evidence is still scarce. In this discussion paper, we exploit the specific…

Motivated by the current discussion on different separate banking systems, we provide an overview of the different systems, question them and outline their effect on systemic stability and the German banking…