If the technological revolution which has taken place over the past decades has lowered information costs and if information costs increase in distance, distance should - ceteris paribus - become less important in determining international bank lending. We are using a dataset on assets and...

Information costs and regulatory barriers are the main distinguishing features of international financial markets as compared to national financial markets. This paper presents a simple model of the impact of these factors on banks' cross-border activities and provides empirical evidence. Our...

The speed at which immigrants assimilate is the subject of debate. Human capital formation plays a major role in this discussion. This paper compares the educational attainment of second generation immigrants to those of natives in the same age cohort. Evidence using a large German data set...

The speed at which immigrants assimilate is the subject of debate. Human capital formation plays a major role in this discussion. This paper compares the educational attainment of second generation immigrants to those of natives in the same age cohort. Evidence using a large German data set...

The speed at which immigrants assimilate is the subject of debate. Human capital formation plays a major role in this discussion. This paper compares the educational attainment of second generation immigrants to those of natives in the same age cohort. Evidence using a large German data set...

Affiliates of German firms in Eastern Europe differ from those in the rest of the world. They have smaller sales and they employ more labor. Labor productivity is thus lower than in affiliates of German firms elsewhere. Moreover, multinational activity in Eastern Europe is mostly unilaterally...