This paper analyses the impact of financial frictions on markup adjustments at the firm level. We use a rich panel data set that matches information on banking relationships with firm-level data. By relying on insights from recent contributions in the literature, we obtain exogenous credit...

This paper studies the short-term and long-term consequences of the COVID-19 pandemic for productivity in Europe. Aggregate and sectoral evidence is complemented by firm-level data-based findings obtained from a large microdistributed exercise. Productivity trends during the COVID-19 pandemic...

Motivated by a monopolistic competition model with market segmentation and international price discrimination, this paper analyzes whether there is an inverse relation between the elasticity of substitution and final ad valorem anti-dumping duties across products. We test this for 19 countries...

50 Milliarden Euro - mit einem Konjunkturpaket in bislang ungekannter Höhe haben Bund und Länder auf die schwere Rezession reagiert. Mit 23,6 Milliarden Euro sind fast die Hälfte dieser Mittel für öffentliche Investitionen vorgesehen. Diese schuldenfinanzierten Maßnahmen sollen nicht nur...