When banks choose similar investment strategies, the financial system becomes vulnerable to common shocks. Banks decide about their investment strategy ex-ante based on a private belief about the state of the world and a social belief formed from observing the actions of peers. When the social...

Theoretical models of the Kuznets Curve have been purely analytical with little contribution towards an understanding of the timing of the process and the presence of additional mechanisms affecting its timing. This paper proposes an agent-based version of Acemoglu and Robinson's model of the...

Leere Bahnhöfe, verwaiste Straßen: Der Verkehrssektor gehörte zweifellos zu den markantesten Ausprägungen der COVID-19-Pandemie. Nachdem der gesellschaftliche Krisenzustand seit Frühjahr 2023 offiziell als überwunden gilt, untersucht die vorliegende Studie, wie drei Jahre Pandemie das...