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Working Paper

Trade Liberalization along the Firm Size Distribution: The Case of the EU-South Korea FTA

19.02.2021

In 2011, the EU-South Korea Free Trade Agreement (EUKFTA) entered into force. With its focus on nontariff barriers (NTBs), it is a leading example of a

Working Paper

A need for control? Political trust and public preferences for asylum and refugee policy

27.01.2020

Political trust matters for citizens’ policy preferences but existing research has not yet considered whether this effect depends on how policies are

Working Paper

The EU Self-Surplus Puzzle: An Indication of VAT Fraud?

01.12.2019

The world runs a trade surplus with itself: Exporters report larger values of exports than what importers report as imports. This is a logically impossible but well known empirical fact. Less well known, in recent years, more than 80 percent of the...

Working Paper

Persistent Zeros: The Extensive Margin of Trade

10.09.2019

The extensive margin of bilateral trade exhibits a high level of persistence that cannot be explained by geography or trade policy. We combine a heterogeneous firms model of international trade with bounded productivity with features from the firm...

Working Paper

Exportweltmeister: The Low Returns on Germany's Capital Exports

04.07.2019

Germany is world champion in exporting capital (“Exportweltmeister”). No other country invests larger amounts of savings outside its borders.

Working Paper

Revisiting the Euro’s Trade Cost and Welfare Effects

01.03.2019

When, about twenty years ago, the Euro was created, one objective was to facilitate intra‐European trade by reducing transaction costs. Has the Euro delivered? Using sectoral trade data from 1995 to 2014 and applying structural gravity modeling, we...

Working Paper

Promoting Labour Market Integration of Refugees with Trade Preferences: Beyond the EU-Jordan Compact

12.07.2018

Trade preferences provide a potential policy tool for supporting refugee employment in countries of first asylum. Thus, in the context of the EU-Jordan

Working Paper

How Foreign-born Workers Foster Exports

01.02.2017

We investigate the export-enhancing effect of foreign workers at the firm level. We first develop a theoretical framework of heterogeneous firms, assuming that foreign workers allow for productivity gains and convey valuable information on foreign...

Working Paper

The Inherent Benefit of Monetary Unions

01.08.2016

The desirability of flexible exchange rates is a central tenet in international macroeconomics. We show that, with forward-looking staggered pricing, this result crucially depends on the monetary authority's ability to commit. Under full commitment,...

Working Paper

The Inherent Benefit of Monetary Unions

26.07.2016

The desirability of flexible exchange rates is a central tenet in international macroeconomics. We show that, with forward-looking staggered pricing, this result crucially depends on the monetary authority's ability to commit. Under full commitment,...

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