In this paper, we argue that the joint use of ex-ante regulation and ex-post liability rules is efficient when there are uncertainty surrounding causal investigations and regulatory myopia. As these conditions are generally met in environmental cases, we provide an explanation for the frequent...

The article shows that expansionary open-market operations are non-neutral, even with price flexibility, when the purchased assets are partially liquid. A permanent injection of money generates a realbalance effect that helps monetary transactions, reduces consumption inequality and, by this...

Germany shows a more welcoming attitude towards refugees than most other European countries. At the same time, the influx of refugees has led to massive protests, demonstrations and attacks against refugees. We look at the economic effects of these demonstrations and attacks on one important...

Many firms are making net-zero and carbon neutral pledges. In principle, these pledges should help consumers identify sustainable options, but often they do not correspond to meaningful actions. In response, both in the U.S. and in Europe, courts and policymakers are requiring firms to disclose...

Many firms are making net-zero and carbon neutral pledges. In principle, these pledges should help consumers identify sustainable options, but often they do not correspond to meaningful actions. In response, both in the U.S. and in Europe, courts and policymakers are requiring firms to disclose...