Recent papers show that the all-pay auction is better at raising money for charity than the first-price auction with symmetric bidders under incomplete information. Yet, this result is lost with sufficiently…
European banks are exposed to a substantial amount of risky sovereign debt. “Missing capital” in the banking system resulting from the zero-risk weight exemption for European sovereign debt amplifies the…
We study the short-term effect of the first global multilateral standard for the automatic exchange of information (AEOI), the so-called Common Reporting Standard (CRS), on cross-border tax evasion. Employing…
Over recent years, the concept of ‘European identity’ has received increasing scholarly attention. Despite this progress, political initiatives to foster a shared feeling of Europeanness still appear to be…
Using German administrative data, we study across-regime low-pay persistence in the context of an economic transformation process. We first show that individuals' initial allocation to the post-unification…
I investigate the impact of the European Union Emissions Trading Scheme (EU ETS) on fuel efficiency of fossil fuel power plants, using administrative micro data on German power plants from 2003 to 2012. I find…
How much carbon is in the price of power? The answer to this question determines many economic consequences of climate policies, i.e. in terms of costs for downstream industries. It requires, however, to first…
