Did you know China's first successful contract to build a satellite was for Nigeria's Space Research and Development Agency? Space is booming on the African continent. Millions of dollars in deals to build and launch satellites are being signed with a host of partners. This working paper by...

Did you know China's first successful contract to build a satellite was for Nigeria's Space Research and Development Agency? Space is booming on the African continent. Millions of dollars in deals to build and launch satellites are being signed with a host of partners. This policy brief by Julie...

Die Zahl der regionalen Handelsabkommen ist in den letzten Jahren stark gestiegen. Gleichzeitig steht die Handelsliberalisierung verstärkt in der Kritik der Öffentlichkeit, die sich gegen Umweltschäden und soziale Ungerechtigkeit als Ergebnis der Abkommen wendet. Das Instrument der...

Ensuring a crisis-proof food supply has become a key political issue. In Germany, official spatial planning allows the use of priority and reserved areas to secure land for agricultural use and regional food supply. The focus should be particularly on climate-resilient areas that also have a...

How do real-time expectations affect firms' economic decisions? We provide evidence by using a dataset on Japanese multinational firms' sales forecasts and exploring an unexpected escalation of a territorial dispute between China and Japan in 2012. Our estimation substantiates that, after the...

When managers have objectives beyond maximizing monetary profits, inefficiencies may arise. An increase in competition may then force managers to improve the productivity of the firm in order to ensure survival. While this hypothesis has received ample theoretical attention, empirical evidence...

Using a long-panel dataset of Japanese firms that contains firm-level sales forecasts, we provide evidence on firm-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated forecast errors. However, they make more precise...

We propose that multinational firms learn about their profitability in a particular market by observing their performance in nearby markets. We first develop a model of firm expectations formation with noisy signals from multiple markets and derive predictions on expectations formation and...

Energy Transition towards a low-carbon emission energy system has been a long-term strategy for Germany and China. Both countries are expected to take the lead on the global effort to achieve clean energy and greenhouse gas emissions reduction. Although Germany and China have different...

We study the role of multinationals (MNCs) in facilitating firm-level and aggregate structural transformation. Using a stylized model of multinational production and trade, we show that an inward multinational liberalization in the manufacturing sector raises employment in host country firms,...