Felix Bierbrauer is a professor of economics at the University of Cologne and a member of ECONtribute: Markets & Public Policy, a Cluster of Excellence under Germany’s Excellence Strategy. Further affiliations are with the Center for Economic Policy Reserach (CEPR), the CESifo Network and the Max Planck Institute for Research on Collective Goods. Bierbrauer is also a member of the board of academic advisors of Germany’s Federal Ministry for Economic Affairs and Climate Action.