When banks are faced with a funding shortage in money market wholesale funding, they partly substitute by tapping other wholesale funding sources. Using auction-level data on large corporate deposits, we trace these substitution effects and their implications, which go beyond the balance sheets...

This study analyzes empirically the effects of import competition on firm productivity (TFPQ) using administrative firm-level panel data from German manufacturing. We find that only import competition from high-income countries is associated with positive incentives for firms to invest in...

The adoption of broadband technology is a major policy issue for all countries. The objective of this paper is to identify factors contributing to mobile broadband (3G+4G mobile phones) adoption by focusing on smartphones. Broadband can broadly be divided into fixed (DSL, cable modem, FTTH) and...

Fixed telephony has long been a fundamentally important market for European telecommunications operators. The liberalisation and the introduction of regulation in the end of the 1990s, however, allowed new entrants to compete with incumbents at the retail level. A rapid price decline and a...