We employ a unique dataset on members of an elite service club in Germany to investigate how elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a quasi-experimental research design, we document...

The international financial crisis that began in 2006/2007 continues to threaten economic stability in many parts of the world including the United States and Europe. The paper explores how the financial crisis conforms to or challenges two models of capitalism by comparing efforts by Germany...

We employ a unique dataset on members of an elite service club in Germany to investigate how social connections in elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a quasi-experimental research...