We explore the role of social capital in the spread of the recent Covid-19 pan­demic in independent analyses for Austria, Germany, Italy, the Netherlands, Swe­den, Switzerland and the UK. We exploit within-country variation in social capital and Covid-19 cases to show that high-social-capital...

Why do politicians sometimes pursue policies with uncertain outcomes? We present a model in which politicians are unable to pre-commit to a status quo policy, and where investors and voters face a conflict over the division of output. Politicians may deviate from the status quo and pursue risky...

The main characteristic of the implementation of the European Monetary Union (EMU) is the transition from various national currencies to the Euro, the common European currency. A final fixing of the individual bilateral exchange rates of all European countries involved in the Monetary Union...

German unifikation hit the West German economy in a prosperous and appeared as a huge demand shock at least for the first few quarters. This combination resulted in a major increase of imports from the main trading partners of West Germany, which may have helped to cushion recessionary trends...

This paper analyses the determinants of employment reactions of firms when environmental innovations have been carried out. It differentiates hereby between employment increases and decreases. The data stem from a telephone survey covering more than 1500 firms in five European countries that...

This paper analyses the determinants of employment reactions in-duced by environmental innovations. On the basis of the parameter estimates of the Multinomial Logit and of several Multinomial Probit Models, we show that we have to distinguish between the factors that have an impact on employment...