Kilian Huber, Volker Lindenthal, Fabian Waldinger, 08 October 2018

Trump’s travel ban on people from several Muslim-majority countries sparked an outcry from businesses about their ability to recruit and retain talent. This column analyses the effect of the Nazi’s purge of Jewish managers from German firms to understand the economic consequences of such discriminatory policies. Results show robust losses in terms of stock prices and dividend payments of affected firms. The policy reduced the aggregate market valuation of firms listed in Berlin by 1.78% of German gross national product.

Eliana La Ferrara, Alberto Alesina, 27 May 2011

Southern US states have long been accused of discrimination against racial minorities – particularly blacks and Hispanics. This column looks for racial bias in criminal murder trials. It finds that a murder by an ethnic minority criminal against a white victim systematically receives harsher punishment than if the murder had been committed by a white criminal.

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