We analyze the announcement risk premia on the US market between September 1987 and March 2023 and find that the market index exhibits average excess returns of 8.3 bps for macroeconomic announcement days. This strongly contrasts with 1.4 bps returns for non-announcement days. We further measure...

We examine how politicization and polarization influence judicial review within U.S. Federal appellate courts. Analyzing over 400,000 cases from 1985 to 2020, we find that judges' political alignment or misalignment with trial judges increasingly affect their decisions, particularly in the last...

Grönland (Kalaallit Nunaat) nimmt einen raumbeherrschenden Platz zwischen dem Arktischen und dem Atlantischen Ozean ein. Es hat eine geostrategische Schlüsselposition im Seeraum zwischen Spitzbergen, Bäreninsel und Nordkap (Bear Gap) sowie zwischen Grönland, Island und Großbritannien (GIUK...

"We examine portage sites in the U.S. South, Mid-Atlantic, and Midwest, including those on the fall line, a geomorphologic feature in the southeastern U.S. marking the final rapids on rivers before the ocean. Historically, waterborne transport of goods required portage around the falls at these...