We exploit proprietary information on severed correspondent banking relationships (due to the stricter enforcement of financial crime regulation) to assess how payment disruptions impede cross-border trade. Using firm-level export data from emerging Europe, we show that when local respondent...

We analyze the technology sovereignty of Europe, the US, China, Japan, and Korea, representing the world's leading innovators. By examining citations from the universe of PCT patent applications between 2000 and 2020, we determine the strength and direction of inventions' influence at global and...

We examine how the adverse impacts of weather shocks are distributed through the trade network. Exploiting a rich, theoretically derived, fixed effects structure, we find significant negative short-run effects of high temperature on exports. A month with an average temperature above 30 °C...