In this paper we deliver first causal evidence on the relationship between immigrant host country language proficiency and homeownership. Using an instrumental variable strategy, we find a substantial positive impact of language skills on the propensity to own a home and the quality of housing....

The WTO Trade Facilitation Agreement (TFA) has been predicted to bring about an expansion in trade flows and real income gains. To date, there is still very limited empirical evidence on the actual post-implementation impact of the TFA. This paper provides an assessment, combining econometric...

Germany's shortage of skilled workers has sharply increased, especially in the social and education sectors, health and care, construction and skilled crafts, information technology and jobs in science, technology, engineer­ing and mathematics (STEM). Simultaneously, the demand for low...

We contribute to the debate about the future of capital markets and corporate finance, which has ensued against the background of a significant boom in private markets and a corresponding decline in the number of firms and the amount of capital raised in public markets in the US and Europe. Our...

Using global Multi-Region Input-Output (MRIO) data from 2005-2015, this paper empirically investigates the extent and patterns by which East African Community (EAC) countries have integrated into Global Value Chains (GVCs) and Regional Value Chains (RVCs). Results imply that the foreign content...

Previous work suggests a general uncertainty surrounding the migration process acts as a barrier to outmigration. In this paper, we argue that this barrier is exacerbated when relative economic policy uncertainty is higher in the target country and mitigated when relatively higher in the origin...

South Korea has been late to embrace the concept of the Indo-Pacific. Its strategic approach developed from initial neglect to mere tactic acknowledgment and careful engagement under the Moon administration (2017-2022), to the now clear support for a distinct Indo-Pacific strategy under the Yoon...

In recent weeks, Japan's government under Prime Minister Kishida Fumio has im­plemented significant adjustments to the country's security policy. In December 2022, Tokyo published a new National Security Strategy along with two other defence-related strategic documents. In doing so, the...

The share of private consumption has long been small in the Chinese GDP. The share started to increase in the past decade, but the trend reversed with the covid-19 pandemic. Now as the Chinese economy reopens and recovers from covid restrictions, the share of consumption could return to a...

We directly optimize portfolio weights as a function of firm characteristics via deep neural networks by generalizing the parametric portfolio policy framework. Our results show that network-based portfolio policies result in an increase of investor utility of between 30 and 100 percent over a...