Vor drei Jahren wurde das Kohle-Aus in Deutschland beschlossen. Was bedeutet das für die Braunkohleausstiegsregionen des Lausitzer, Mitteldeutschen und Rheinischen Reviers? Wie kann die weitere Prozessgestaltung und -begleitung im Strukturwandel aussehen? In den Fachworkshops der Tagung werden...

The anticipation of a future bailout of distressed firms worsens ex ante adverse selection, causing a market freeze at present and inviting government intervention ("bailout trap"). When firms of heterogenous qualities raise financing, high-quality firms are willing to bear adverse selection...

Firms must transform production processes towards sustainable technologies in response to climate change and the emergence of policies aiming to curb carbon emissions. The energy shock due to the war in Ukraine renders this transformation not only important, but also urgent. All this requires...

We propose a general equilibrium model with oligopolistic output markets where two channels can cause a change in market power: (i) technology, via changes to productivity shocks and the cost of entry, (ii) market structure, via changes to the number of potential competitors. First, we...

We explore how firms grow by adding products. In contrast to most earlier work on the topic, our conceptual and empirical framework allows for separate treatment of product innovation (vertical differentiation) and diversification (horizontal differentiation). Chad Syverson Professor of...

What is the impact of granular credit risk on banks and on the economy? We provide the first causal identification of single-name counterparty exposure risk in bank portfolios by applying a new empirical approach on an administrative matched bank-firm dataset from Norway. Exploiting the fat...

We document that the dominant component of overall and residual wage inequality is within plant-occupations and, combining within-occupation task information from labor force surveys with linked plant-worker data for Germany, establish three interrelated facts: (1) larger plants and exporters...

We propose a simple explanation for the long-run decline in the startup rate. It was caused by a slowdown in labor supply growth since the late 1970s, largely pre-determined by demographics. This channel explains roughly two-thirds of the decline and why incumbent firm survival and average...

We use comprehensive micro data in the French manufacturing sector between 1995 and 2017 to document the effects of automation technologies on employment, sales, prices, wages, and the labor share. Causal effects are estimated with event studies and a shift-share IV design...

This paper studies how banks compete amid digital disruption and the resulting distributional effect across consumers. Digital disruption increases the geographic coverage of banking services, bringing new entrants to local markets. However, as digital customers shift from branches to digital...