Correspondent banks allow local banks in emerging markets to access the international payments system. This helps local banks to make cross-border payments, clear currencies, and provide trade finance. The…
From an economic perspective, marriage and long-term partnership can be seen as a risk-pooling device. This informal insurance contract is, however, not fully enforceable. Each partner is free to leave when his…
Usually, offcial and survey-based statistics guide policy makers in their choice of response instruments to economic crises. However, in an early phase, after a sudden and unforeseen shock has caused…
We analyze whether an informal second channel for communication can improve the efficiency of knowledge transfer in an electronic network of practice. We explore this question by analyzing the effect of chat…
Economists tend to view a uniform emissions price as the most cost-effective approach to reducing greenhouse gas emissions. This paper offers a different view, focusing on economies where society values the…
