The Belt and Road Initiative (BRI) illustrates China's increasing interest in and influence on the global economy. German companies, particularly small and medium-sized enterprises (SMEs), are beginning to notice the rapid changes in their business environment. Some of them are starting to think...

The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete in a differentiated loan market, hold reserves against liquidity shocks, and refinance in the interbank market. A merger creates an internal money market that induces financial...