Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected bank funding costs. We show that credit supply is dampened by the associated debt-overhang cost to bank shareholders. Until 2022, this impact was reduced by linking the...

Vorwörter -- Einführung -- Teil I: Aktuelle Erkenntnisse aus der Wissenschaft -- Teil II: Pläne und Maßnahmen der Politik -- Teil III: Forderungen von Interessensvertretungen, NGO´s und NPO´s -- Teil IV: Insights aus der Finanz- und Versicherungsbranche -- Teil VI: Maßnahmen im...

We estimate the role of firms in worker health care utilization. Using linked administrative data on Austrian workers from 1998-2018, we exploit mobility between firms to estimate how much a firm contributes to worker-level differences in utilization in a setting with non-employer provided...

Despite the fact that 30 percent of opioid overdoses also involve a benzodiazepine, there is little policy guidance on how to curb concurrent misuse and even less evidence on how changes to co-prescribing practices can affect patients' economic trajectories. In 2012, Austria restricted access to...

In diesem Buch erfahren Sie, was Biosphere Reserves eigentlich sind?! Warum wurden sie gegründet? Wie werden sie verwaltet? Und was haben sie mit Nachhaltigkeit zu tun? Angesprochen sind alle, die in diesem Bereich arbeiten oder forschen, diese führen und verwalten, sowie Politikerinnen,...

"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...

"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...

In the face of rising climate risk, financial institutions may adapt by transferring such risk to securitizers that have the skill and expertise to build diversified pools, such as Mortgage-Backed Securities. In diversified pools, exposure to climate risk may be a drop in the ocean of cash...

We assess the pattern of Euro Area financial integration adjusting for the role of "onshore offshore financial centers" (OOFCs) within the Euro Area. The OOFCs of Luxembourg, Ireland, and the Netherlands serve dual roles as both hubs of investment fund intermediation and centers of securities...