We study the ownership structure of joint-stock firms for the period of 1869 to 1945 based on a unique hand-collected data set. The data covers a selection of 785 general meetings of 276 firms, including details of more ...

Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. ...

Compared with China’s pre-eminent status in world trade, its role in global finance is poorly understood. This paper studies the size, characteristics, and determinants of China’s capital exports building a new database ...

The recognition of the key importance of economic stability after World War I sparked interest in business forecasting on both sides of the Atlantic. This article explores the creation and the rapid international and ...

The increasing availability of digital text collections and the corresponding establishment of methods for computer-assisted analysis open up completely new perspectives on historical textual sources. In this paper, we use ...

The importance of mass media is reflected, among other things, in the fact that their coverage on certain topics – contrary to findings from communication research – is often seen as a reflection of the topics that are ...

We study the efficiency of growth and inflation forecasts published by three leading German economic research institutes during a period of time ranging from 1970 to 2017. To this end, we examine whether the information ...

Releases of key macroeconomic indicators are closely watched by financial markets. We investigate the role of expectation dispersion and economic uncertainty for the stock-market reaction to indicator releases. We find ...

We assess empirically whether monetary policy announcements impact firm expectations. Two features of our data set are key. First, we rely on a Survey of production and price expectations of German firms, that is, expectations ...

We show how elite capture affects optimal debt repatriations and management of official reserves under capital controls, bridging literature on debt buybacks and secondary markets. The model we provide guides our study of ...