The issue of base erosion and profit shifting has been on the international policy agenda for several years now. The aim of this paper is to examine how firms adjust their profit shifting mechanisms in a…

• Economic Expectations Continue to Sink as End of Year Approaches
• 26 analysts participated in the December survey, which was conducted during the period 4 till 13 December 2017

We analyze the drivers and barriers that influence investments increasing the energy efficiency of firms' production processes or buildings in the German manufacturing sector based on microdata. In particular,…

Increasing energy efficiency is one of the main goals in current German energy and climate policies. We study the determinants of energy efficiency in the German manufacturing sector based on official firm-level…

In the aftermath of natural disasters, governments frequently provide financial aid for affected households. This policy can have adverse effects if individuals anticipate it and forgo private precaution…

We investigate the effect of individual banks’ liquidity shocks during the recent financial crisis of 2008/2009 on the innovation activities of their business customers. Individual banks’ liquidity shocks are…

• Stable Business Environment at Year-End
• Positive Financing Situation and Improved Prospects for 2018
• Robust Financing Environment for the Logistics, Residential and Office Sectors
• Virtually Unchanged Refinancing…

While the effects of non-geographic aggregation on inference are well studied in economics, research on geographic aggregation is rather scarce. This knowledge gap together with the use of aggregated spatial…