We test the effects of uncertainty on market liquidity using Hurricane Sandy as a natural experiment. Given the unprecedented strength, scale and nature of the storm, the potential damages of a landfall…

• Geopolitische Risiken haben negativen Einfluss auf die Konjunkturerwartungen
• Eurozone: Konjunkturwartungen bleiben stabil
• USA: Konjunkturausblick verbessert sich leicht
• Japan: Konjunkturerwartungen gehen…

The digital transformation is one of the greatest challenges of our time. High-speed internet, mobile devices, intelligent software algorithms as well as data storage and processing are changing economic and…

We analyze the relationship between unemployment and the supply of online labor for microtasking. Using detailed US data from a large microtasking platform between 2011 and 2015, we study the participation and…

This study investigates the within-country heterogeneity of material footprints implied by households' consumption in Germany. Material footprints are defined as the amount of biomass, minerals, and fossil fuels…

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,…

• Expectations Remain Almost Unchanged
• 40 analysts participated in the May survey, which was conducted during the period 18 April till 3 May 2018

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…