In 2015 and 2016, more than one million refugees arrived in Germany. While granting these migrants access to the country is an expression of humanitarian responsibility, their subsequent integration into the labor market is primarily a challenge for economic policy. For a wide range of outcomes,...

China's economy, the second largest in the world, is undergoing a fundamental transition. Its transition from a strong focus on investment and exports towards a larger share of consumption could have important ramifications for China's trading partners. Using China as a case study, this paper...

To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part of ESM crisis assistance, we propose a two-stage...

In 2015 and 2016, more than one million refugees arrived in Germany. While granting these migrants access to the country is an expression of humanitarian responsibility, their subsequent integration into the labor market is primarily a challenge for economic policy. For a wide range of outcomes,...

China's economy, the second largest in the world, is undergoing a fundamental transition. Its transition from a strong focus on investment and exports towards a larger share of consumption could have important ramifications for China's trading partners. Using China as a case study, this paper...