We explore the interplay between trade invoicing patterns and the pricing of safe assets in different currencies. Our theory highlights the following points: 1) a currency's role as a unit of account for invoicing decisions is complementary to its role as a safe store of value; 2) this...

At the onset of the COVID-19 economic crisis, as in other crisis episodes, the flight to safety was accompanied by a rapid appreciation of "safe haven" currencies. We quantify currency-induced balance sheet effects for total external positions as well as for individual asset classes using new...

The use of different currencies in the invoicing of international trade transactions plays a major role in the international transmission of economic fluctuations. Existing studies argue that an exporter's invoicing choice reflects structural aspects of her industry, such as market share and the...

The U.S. dollar holds a dominant place in the invoicing of international trade, along two complementary dimensions. First, most U.S. exports and imports invoiced in dollars. Second, trade flows that do not involve the United States are also substantially invoiced in dollars, an aspect that has...

Part I Introduction to Megatrends -- Megatrends in International Business: An Introduction to the Theme -- Megatrends and International Business -- Part II Entrepreneurship Trends -- Trends in International Entrepreneurship -- IGOs and Entrepreneurship: Understanding the Impact of Policy...

Global business management issues and concerns are complex, diverse, changing, and often intractable. Industry actors and policy makers alike rely upon partnerships and alliances for developing and growing sustainable business organizations and ventures. As a result, global business leaders must...

How does growing international financial diversification affect firm-level and aggregate labor shares? We study this question using a novel framework of firm labor choice in the face of aggregate risk. The theory implies a cross-section of labor risk premia and labor shares that appear as...

The global economy as the macro-environment -- Theories of internationalization -- Market entry decisions -- Market entry modes -- The coordination and configuration of global value chains (GVCs) -- The management of the multinational firm.

The rise of artificial intelligence (AI) and of cross-border restrictions on data flows has created a host of new questions and related policy dilemmas. This paper addresses two questions: How is digital service trade shaped by (1) AI algorithms and (2) by the interplay between AI algorithms and...

Künstliche Intelligenz (KI) – Eine kurze Geschichte -- Machine Learning und künstliche neuronale Netze -- KI im Marketing und in den Human Resources -- KI in Logistik, Lieferkette und Inventar Management -- KI im Gesundheitssystem, in der Landwirtschaft, in der Sicherheitstechnik und im...