1. ZEW Discussion Paper No. 23-064 // 2023

    Broken Relationships: De-Risking by Correspondent Banks and International Trade

    We exploit proprietary information on severed correspondent banking relationships (due to the stricter enforcement of financial crime regulation) to assess how payment disruptions impede cross-border trade.…

  2. ZEW Discussion Paper No. 23-063 // 2023

    A new Indicator to implement effective Spending Review Policies in the Public Procurement for standardized Goods

    We suggest an alternative indicator that can lead to price reductions in the public procurement market for goods, i.e., the elasticity of prices to quantities purchased. We apply the analysis to the procurement…

  3. ZEW Discussion Paper No. 23-062 // 2023

    Heterogeneous Expectations among Professional Forecasters

    Macroeconomic expectations of various economic agents are characterized by substantial cross-sectional heterogeneity. In this paper, we focus on expectations heterogeneity among professional forecasters. We…

  4. ZEW Discussion Paper No. 23-060 // 2023

    Cashless Payments and Tax Evasion: Evidence from VAT Gaps in the EU

    This paper explores the connection between the proliferation of cashless, or e-money, payments and value-added tax (VAT) compliance. We present both visual and descriptive evidence that illustrates a negative…

  5. ZEW Discussion Paper No. 23-059 // 2023

    YouTube “Adpocalypse”: The YouTubers’ Journey from Ad-Based to Patron-Based Revenues

    In the past decade, the Creator Economy has witnessed unprecedented growth. This dynamic ecosystem thrives on a multi-sided business model, connecting content creators, users, and advertisers. However, matching…

  6. ZEW Monthly // 2023

    12/2023 – Highlights from 2023

    An eventful year is drawing to a close. In the last issue of this year’s ZEW Monthly, we look back at what shaped 2023. Among other things, we have included selected editorial highlights from research at ZEW…

  7. M&A Report // 2023

    December 2023

    • ZEW M&A Index Stabilises at Low Level
    • Acquiring AI Expertise
    • M&A Activities in the Biotechnology Sector
    • Hospital Mergers and Acquisitions in Germany
  8. Unternehmensschließungen // 2023

    Dezember 2023

    • Schließungen 2022 – Deutliche Zunahme im Verarbeitenden Gewerbe und bei innovativen Branchen
  9. ZEW-Finanzmarktreport // 2023

    Dezember 2023

    • Lageeinschätzung und Konjunkturerwartungen trotzen der Haushaltskrise
    • Eurozone: Erwartete Zinswende bei Stabilisierung der Inflationserwartungen
    • USA: Normalisierung der Wirtschaftsindikatoren erwartet
    • China…
  10. ZEW-Branchenreport Informationswirtschaft // 2023

    3. Quartal 2023

    • Wenig Dynamik bei Konjunktureinschätzung
    • ChatGPT & Co. werden Teil des Arbeitsalltags
  11. Discussion and Working Paper // 2023

    Child Penalty Estimation and Mothers' Age at First Birth

    Motherhood continues to pose significant challenges to women’s careers, and a correct assessment of its effects is crucial for understanding the persistent gender inequality in the labor market. We show that the…