As resource users interact and impose externalities onto each other, institutions are needed to coordinate resource use, create trust, and provide incentives for sustainable management. Coordinated collective…
Building up sufficient capital for old-age provision often is a challenge for private households. For homeowners, one way to generate old-age income from illiquid housing wealth is the use of equity release…
COVID-19 placed a special role on fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Germany’s economy benefited from large and…
This paper investigates the importance of correspondent banking for trade and firm performance in emerging Europe. We exploit the unexpected "structural break" in the U.S. regulator’s enforcement of financial…
