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. Using firm-level export data from emerging Europe, we show that when local respondent...

Banks lend more to banks that are similar to them. Using data from the German credit register and proprietary supervisory data on the quality of banks' loan portfolio, we show that a similar portfolio of the lending and borrowing bank helps to overcome information asymmetries in interbank...

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. Using firm-level export data from emerging Europe, we show that when local respondent...

Das deutsche Mitbestimmungsmodell kann vor dem Hintergrund seiner positiven demokratischen und wirtschaftlichen Wirkungen für andere am Weltmarkt beteiligte Nationen von Interesse sein. In der Studie wird daher untersucht, wie die Bundesregierung die betriebliche und Unternehmensmitbestimmung...

Das deutsche Mitbestimmungsmodell kann vor dem Hintergrund seiner positiven demokratischen und wirtschaftlichen Wirkungen für andere am Weltmarkt beteiligte Nationen von Interesse sein. In der Studie wird daher untersucht, wie die Bundesregierung die betriebliche und Unternehmensmitbestimmung...

Correspondent banks allow local banks in emerging markets to access the international payments system. This helps local banks to make cross-border payments, clear currencies, and provide trade finance. The recent retrenchment of global correspondent banks following the increased costs of...

We study how terminated correspondent banking relationships affect international trade. Drawing on firm-level export data from emerging Europe, we show that when local banks lose access to correspondent services, their corporate clients experience significant export declines. This trade...

We develop a methodology to decompose the tax revenue impact of the global minimum tax introduced in 2024 into several components and quantify its potential impact on profit shifting. We apply it to 34 thousand multinational-country observations from tax returns, financial statements and...