New business models can make an important contribution to the transition to green growth. While some new business models involve large firms, others are small start-up firms that seek to exploit technological or commercial opportunities that have been neglected or not yet explored by more...

This work analyses the role of the digital transformation for business dynamics across countries. The analysis combines unique harmonised data on business dynamics for 15 countries with a multi-dimensional measure of digital intensity that takes into account different facets of the digital...

This paper revisits the credit spread puzzle for banks from the perspective of information contagion. The puzzle consists of two stylized facts: Structural determinants of credit risk not only have low explanatory power but also fail to capture common factors in the residuals. We reproduce the...