This paper investigates to what extent individual self-selection into different markets can be explained by individuals' risk preferences, overconfidence and market expectations. In a laboratory experiment subjects choose to enter one of three markets. The markets vary in their degree of...

This paper examines the effect of administrative restrictions on cross-border capital transactions. Using highly disaggregated data from the German balance of payments statistics for the period from 1999 through 2017, we document several stylized facts about the effectiveness of such capital...

We investigate how the lending activities of a multinational bank s affiliates located abroad are affected by funding difficulties in view of the financial crisis. For this, we consider transaction-induced changes in long-term lending to the private sector of 40 countries by the affiliates of...