✋ Hi!

I am Max, and I am a second-year Economics PhD student at the Vienna University of Economics and Business (WU Vienna).

📝 Research

Vashold, L., Pirich, G., Heinze, M., & Kuschnig, N. (2026). Downstream impacts of mines on agriculture in Africa. Journal of Development Economics, 179, 103671. https://doi.org/10.1016/j.jdeveco.2025.103671 · View Paper · View Repo · 💻 View Slides

Abstract: Mining operations in Africa are expanding rapidly, creating negative externalities that remain poorly understood. In this paper, we provide causal evidence for the impact of water pollution from mines on downstream vegetation and agriculture across the continent. We exploit a natural experiment, where mines cause a discontinuity in water pollution along river networks, to compare vegetation health in upstream and downstream locations. We find that mines significantly reduce peak vegetation downstream by 1.3–1.5%, impairing the productivity of over 74,000 km² of croplands. These reductions correspond to annual losses of 91,000–205,000 tons of cereal crops in the immediate vicinity alone, with particularly severe effects in fertile regions and areas where gold mining predominates. Our findings highlight substantial externalities of mining and demonstrate an urgent need for oversight and regulation.

👨‍🏫 Teaching

Macroeconomics (B.Sc. level, as co-lecturer) · View Syllabus

Econometrics I (B.Sc. level, as lecturer) · View Syllabus · 💻 View Slides

Econometrics II (B.Sc. level, as co-lecturer) · View Syllabus · 💻 View Slides

Econometrics III / Applied Econometrics (B.Sc. level, as co-lecturer)

Development Economics: Research & Policy Seminar (M.Sc. level, as co-lecturer)

📦 Miscellaneous

📐 Interactive Charts for Teaching Introductory Macroeconomics · Charts of introductory Macro models (based on the textbook by Blanchard) with interactive sliders.

💻 Beamer Template [External Link] · The (messy) LaTeX Beamer template I use.