The Russian war of aggression against Ukraine since 24 February 2022 has intensified the discussion of Europe's reliance on energy imports from Russia. A ban on Russian imports of oil, natural gas and coal has already been imposed by the United States, while the United Kingdom plans to cease...

[Introduction] The Russian war of aggression against Ukraine since 24 February 2022 has intensified the discussion of Europe's reliance on energy imports from Russia. A ban on Russian imports of oil, natural gas and coal has already been imposed by the United States, while the United Kingdom...

Die derzeitige Evaluierungspraxis und Evidenzorientierung politischer Prozesse ist in Deutschland noch deutlich ausbaufähig. Internationale Erfahrungen zeigen die großen Vorteile einer systematischen, evidenzbasierten Politikgestaltung. In wirtschaftlich und politisch angespannten Zeiten ist...

Die derzeitige Evaluierungspraxis und Evidenzorientierung politischer Prozesse ist in Deutschland noch deutlich ausbaufähig. Internationale Erfahrungen zeigen die großen Vorteile einer systematischen, evidenzbasierten Politikgestaltung. In wirtschaftlich und politisch angespannten Zeiten ist...

Does the mere presence of big banks affect macroeconomic outcomes? In this paper, we develop a theory of granularity (Gabaix, 2011) for the banking sector, introducing Bertrand competition and heterogeneous banks charging variable markups. Using this framework, we show conditions under which...

Does the mere presence of big banks affect macroeconomic outcomes? Gabaix (2011) shows that idosyncratic shocks can have aggregate effects if the distribution of firm sizes in manufacturing follows a power law distribution. Our contribution is two-fold. First, we expand the theory of granularity...