This article unifies two approaches for identifying the welfare and wage effects of immigration, one emphasizing the immigration surplus, the other stressing a potential welfare loss due to a terms-of-trade effect. We decompose the native welfare effect into a standard complementarity effect,...

Recent literature finds that exporters are particularly vulnerable to financial market frictions. As a consequence, exports may be lower than their efficient levels. For this reason, many countries support exporters by underwriting export credit guarantees. The empirical evidence on the effects...

Cultural proximity is an important determinant of bilateral trade volumes. However, empirical quantification and testing are difficult due to the elusiveness of the concept and lack of observability. This paper draws on bilateral score data from the Eurovision Song Contest, a very popular...

We introduce search unemployment into Melitz's trade model. Firms' monopoly power on product markets leads to strategic wage bargaining. Solving for the symmetric equilibrium we show that the selection effect of trade influences labor market outcomes. Trade liberalization lowers unemployment and...

This paper introduces the fourth release of the Global Sanctions Data Base (GSDBR4). Covering the period 1950-2023, it contains 1,547 sanction cases, including the new ones against Russia. The GSDB-R4 comes in two versions, a case-specific and a dyadic one, both freely available upon request at...

Supply security is threatened by technical, business, natural and policy shocks, as well as geopolitical tensions. Is there a rationale for policy intervention? If yes, what are efficient and effective measures that achieve de-risking? This article first explains why private incentives do not...

The decarbonization of India’s economy will have different effects across income groups. As India is in the middle of the transformation process from an agriculture-based economy towards an industry- and service-based economy, called economic structural change, the extent of income...

While international trade can offer gains from specialization and access to a wider range of products, it is also closely interlinked with global environmental problems, above all, anthropogenic climate change. This survey provides a structured overview of the economic literature on the...

[Hintergrund, Aufgabenstellung und Zielsetzung] Seit der Finanz- und Wirtschaftskrise haben Deutschland und dabei insbesondere Baden-Württemberg ihre Position als wirtschaftlich prosperierende und innovationsstarke Standorte in der Europäischen Union ausgebaut. Mit einem hohen Anteil des...