This study examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria. The policy works well in terms of smoothing...

We investigate the interplay of language skills and immigrant stocks in determining bilateral FDI out-stocks of OECD reporting countries. Applying a Poisson panel estimator to 2004-2011 data, we find a robust positive effect of bilateral immigrants on bilateral FDI – provided that residents of...

Eine höhere Nettozuwanderung nach Deutschland könnte ein Schlüssel zur Abmilderung der Alterung der Erwerbsbevölkerung werden. Doch welche Migrationspotenziale existieren weltweit und wie groß wird die resultierende Zuwanderung voraussichtlich sein? Deutschland ist eines der präferierten...

The income generated from parental migration can increase funds available for children's education. In countries where informal payments to teachers are common migration could therefore increase petty corruption in education. To test this hypothesis, we investigate the effect of migration on...

We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. Our new...

We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. Our new...

Improved living conditions in Africa would lessen migratory pressure on Europe. The scope of Germany‘s "Marshall Plan with Africa" is too narrow; progress can only be made if Europe works together. A financial system that reaches as many people as possible could be one key to future...

Die Grundstoffindustrie wie Stahl- und Zementherstellung verursacht rund ein Viertel der weltweiten CO2-Emissionen. Europäischer Emissionshandel kann eine wichtige Rolle für die Stärkung von Innovation und Investition in klimafreundliche Technologien einnehmen. Umfassende Ausnahmeregelungen...

Immigration has been considered critical for the emergence of a new cleavage in the European Union that pits the winners of globalisation against the losers. Ample research has demonstrated the social structure and the organisational base of this new cleavage. So far, however, there is no study...