I empirically assess the importance of socially interdependent origin cultures as opposed to socially independent ones for network effects in inter-national migration. I propose that societies that emphasise collectivist behaviour accumulate larger levels of communityspecific social capital than...

The pattern of financial linkages is important in many areas of banking and finance. Yet bilateral linkages are often unknown, and maximum entropy serves as the leading method for estimating unobserved counterparty exposures. This paper proposes an efficient alternative that combines...

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...

Technologische Neuerungen versprechen die Lösung drängender technisch-sozialer Probleme, aber auch wirtschaftliches Wachstum und sozialen Wohlstand in den zunehmend wissensgetriebenen Ökonomien der OECD-Welt. Die beiden Fälle Biotechnologie (bzw. Gentechnik) und Elektromobilität...

The availability of social media data is growing and represents a new data source for economic research. This paper presents a detailed study on the use of data from a careeroriented social networking platform for measuring employee flows and employer networks. The employment data are exported...

We analyse the cross-country dimension of financial cycles by studying cyclical co-movements in credit, house prices, equity prices and interest rates across the G7 economies. We use wavelet-based statistics to assess at which frequencies cyclical fluctuations and their crosscountry co-movements...

Acknowledging the fact that the growth experience of countries is seldom well described by the average growth rate, this paper aims at identifying countries that are similar in terms of their growth process, thus emphasizing the dynamics of growth rates. To that end, the growth experience of...