Universitätspublikationen
Refine
Year of publication
Document Type
- Working Paper (728)
- Part of Periodical (266)
- Report (30)
- Article (19)
Language
- English (1043) (remove)
Has Fulltext
- yes (1043) (remove)
Is part of the Bibliography
- no (1043)
Keywords
- Financial Institutions (45)
- Capital Markets Union (36)
- ECB (35)
- Banking Union (32)
- Financial Markets (32)
- Banking Regulation (26)
- Household Finance (23)
- Monetary Policy (21)
- Banking Supervision (20)
- Financial Stability (19)
- Macro Finance (18)
- monetary policy (18)
- Systemic Risk (16)
- financial stability (14)
- BRRD (13)
- Regulation (13)
- regulation (13)
- Banking Resolution (12)
- Covid-19 (12)
- ESMA (11)
- Solvency II (11)
- systemic risk (11)
- Bail-in (10)
- COVID-19 (10)
- Life Insurance (10)
- SSM (10)
- Sustainable Finance (10)
- Coronavirus (9)
- EBA (9)
- ESG (9)
- Insurance (9)
- climate change (9)
- coronavirus (9)
- household finance (9)
- Climate Change (8)
- Liquidity (8)
- Quantitative Easing (8)
- Social System (8)
- bail-in (8)
- corporate governance (8)
- regulatory arbitrage (8)
- Bitcoin (7)
- Comments disabled (7)
- EIOPA (7)
- Federal Reserve (7)
- Financial Crisis (7)
- Financial Literacy (7)
- MiFID II (7)
- TLAC (7)
- asset pricing (7)
- banking (7)
- banks (7)
- market discipline (7)
- welfare (7)
- Bank Lending (6)
- Clearing (6)
- Contagion (6)
- Cryptocurrency (6)
- DSGE (6)
- Demography (6)
- Derivatives (6)
- European Central Bank (6)
- Inflation (6)
- Investor Protection (6)
- Low Interest Rates (6)
- MREL (6)
- Pension Insurance (6)
- Private Investment (6)
- ambiguity (6)
- financial crisis (6)
- inequality (6)
- liquidity (6)
- public debt (6)
- shadow banking (6)
- Artificial Intelligence (5)
- Asset Pricing (5)
- Corporate Finance (5)
- Corporate Governance (5)
- Corporate Social Responsibility (5)
- Disclosure (5)
- Euro (5)
- Fintech (5)
- General Equilibrium (5)
- Lebensversicherung (5)
- Numerical accuracy (5)
- Pension (5)
- Portfolio choice (5)
- Saving (5)
- Solution methods (5)
- Systemic risk (5)
- banking regulation (5)
- competition (5)
- financial literacy (5)
- financial regulation (5)
- inflation (5)
- peer effects (5)
- ABS (4)
- Adverse Selection (4)
- Asset Allocation (4)
- Bank Resolution (4)
- Bank Restructuring (4)
- Business Cycle (4)
- Corporate Bonds (4)
- Credit Risk (4)
- DSGE models (4)
- Deposit Insurance (4)
- Dodd-Frank Act (4)
- Entrepreneurship (4)
- Financial Crises (4)
- Financial stability (4)
- Fiscal Policy (4)
- Germany (4)
- Interest Rate Risk (4)
- Interest Rates (4)
- Labor income risk (4)
- MiFIR (4)
- Monetary Union (4)
- OTC markets (4)
- Screening (4)
- Sustainability (4)
- Sustainable Investments (4)
- TARGET (4)
- Tax (4)
- central bank independence (4)
- consumption (4)
- consumption-portfolio choice (4)
- financial markets (4)
- fiscal policy (4)
- forward guidance (4)
- growth (4)
- human capital (4)
- incomplete markets (4)
- institutional investors (4)
- insurance (4)
- non-bank financial intermediation (4)
- political economy (4)
- private equity (4)
- prudential supervision (4)
- quantitative easing (4)
- risk-taking (4)
- social security (4)
- 401(k) plan (3)
- Annuities (3)
- Asset pricing (3)
- Banks (3)
- Basel III (3)
- Bayesian inference (3)
- Board of Directors (3)
- Central Clearing (3)
- China (3)
- Climate change (3)
- Consumers (3)
- Counterparty Risk (3)
- Cryptocurrencies (3)
- ESM (3)
- Economic and Monetary Union (3)
- European Monetary Union (3)
- European Union (3)
- FinTech (3)
- Financial Regulation (3)
- Fire Sales (3)
- Granger Causality (3)
- Greece (3)
- Hamiltonian Monte Carlo (3)
- Health shocks (3)
- Heterogeneous Agents (3)
- High-Frequency Trading (3)
- Homeownership (3)
- Household finance (3)
- IFRS 9 (3)
- Idiosyncratic Risk (3)
- Innovation (3)
- Inside Debt (3)
- Interconnectedness (3)
- Internal Controls (3)
- Liquidity Provision (3)
- Liquidity Risk (3)
- Loss Sharing (3)
- Machine Learning (3)
- Machine learning (3)
- Policy Center (3)
- Price Efficiency (3)
- Privacy (3)
- Real Effects (3)
- Retail investors (3)
- SRM (3)
- Single Supervisory Mechanism (3)
- Solvency (3)
- Stress Test (3)
- Systematic Risk (3)
- Trading (3)
- Transparency (3)
- Unconventional Monetary Policy (3)
- Venture Capital (3)
- Versicherungen (3)
- Wirecard (3)
- Zero Lower Bound (3)
- aggregate risk (3)
- annuity (3)
- bailout (3)
- bank regulation (3)
- bank resolution (3)
- banking separation proposals (3)
- banking supervision (3)
- banking union (3)
- bubbles (3)
- capital markets (3)
- capital regulation (3)
- capital requirements (3)
- cooperation (3)
- corporate finance (3)
- credit risk (3)
- credit supply (3)
- crises (3)
- discrimination (3)
- euro area (3)
- financial distress (3)
- fintech (3)
- heterogeneous agents (3)
- idiosyncratic risk (3)
- incentives (3)
- institutions (3)
- interest rate risk (3)
- interest rates (3)
- intergenerational persistence (3)
- investment decisions (3)
- laboratory experiments (3)
- law and finance (3)
- model comparison (3)
- model uncertainty (3)
- money (3)
- pension (3)
- policy rules (3)
- portfolio choice (3)
- price stability (3)
- retirement income (3)
- saving (3)
- school closures (3)
- social interactions (3)
- social norms (3)
- social preferences (3)
- stochastic volatility (3)
- structural reforms (3)
- sustainability (3)
- taxes (3)
- uncertainty (3)
- unconventional monetary policy (3)
- unemployment (3)
- volatility (3)
- zero lower bound (3)
- AI borrower classification (2)
- AI enabled credit scoring (2)
- Algorithmic Discrimination (2)
- Antitrust (2)
- Asset Quality Review (2)
- Bailout (2)
- Bank Capitalization (2)
- Bankenunion (2)
- Banking (2)
- Banking Stability (2)
- Banking stability (2)
- Basel regulation (2)
- Bayesian Analysis (2)
- Bayesian Estimation (2)
- Bayesian estimation (2)
- Beliefs (2)
- Big Data (2)
- Big Five (2)
- Bond Markets (2)
- Brexit (2)
- Business Cycles (2)
- CDS (2)
- COVID-19 news (2)
- Car Loans (2)
- Central Counterparties (2)
- Choquet expected utility (2)
- Circuit Breaker (2)
- Co-residence (2)
- Coco bonds (2)
- Collateral (2)
- Commodities (2)
- Compensation Structure (2)
- Competition (2)
- Consumer Welfare (2)
- Consumption (2)
- Credit Spread (2)
- Culture (2)
- DSGE Estimation (2)
- Dark Pools (2)
- Dark Trading (2)
- Demographic Change (2)
- Digital Finance (2)
- Digitalization (2)
- Disposition Effect (2)
- EDIS (2)
- EGC (2)
- EMIR (2)
- ESG Rating Agencies (2)
- ETFs (2)
- EU economic and financial services legislation (2)
- Economic Governance (2)
- Economics (2)
- Education (2)
- Eligibility premium (2)
- Endogenous Growth (2)
- Endogenous growth (2)
- Enforcement (2)
- Environmental policy (2)
- Equity Premium (2)
- European Banking Union (2)
- European Commission (2)
- European Market Infrastructure Regulation (EMIR) (2)
- European Stability Mechanism (2)
- European Supervisory Architecture (2)
- Europäische Union (2)
- Eurosystem (2)
- Eurozone (2)
- Expectations (2)
- Expected credit losses (2)
- Experiment (2)
- FBSDE (2)
- Financial Decisions (2)
- Financial Distress (2)
- Financial Frictions (2)
- Financial distress (2)
- Financial literacy (2)
- Forbearance (2)
- Fragmentation (2)
- Fund Flows (2)
- G-SIB (2)
- German Banking System (2)
- German banks (2)
- German financial system (2)
- German reunification (2)
- Green Finance (2)
- Growth (2)
- Guidelines (2)
- Hawkes processes (2)
- Heterogeneous innovation (2)
- High-Frequency Traders (HFTs) (2)
- Household Crisis Barometer (2)
- Household income (2)
- Income and Wealth Inequality (2)
- Incomplete Markets (2)
- India (2)
- Inequality (2)
- Insurance Activities (2)
- Insurance Companies (2)
- Insurance Markets (2)
- Interest Rate Guarantees (2)
- International Finance (2)
- Investments (2)
- Jumps (2)
- Learning (2)
- Life Insurance Surrender (2)
- Life Insurers (2)
- Life insurance companies (2)
- Life-Cycle Model (2)
- Liikanen Commission (2)
- Liquidity provision (2)
- Liquiditätsrisiko (2)
- Long-run Risk (2)
- Margin (2)
- Market Fragmentation (2)
- Market Liquidity (2)
- Market Microstructure (2)
- Marktdisziplin (2)
- Mortality risk (2)
- National Competent Authorities (2)
- Non-performing Loans (2)
- Notverkäufe (2)
- OMT (2)
- Optimal policy (2)
- Overlapping Generations (2)
- Overlapping generations (2)
- P2P lending (2)
- Parameter Elicitation (2)
- Persistence (2)
- Portfolio optimization (2)
- Precautionary Saving (2)
- Price Discovery (2)
- Principle of Proportionality (2)
- Private Information (2)
- Private equity (2)
- Product Market Competition (2)
- R&D (2)
- Reallocation (2)
- Recursive Preferences (2)
- Resolution (2)
- Retail Investor (2)
- Risk Assessment (2)
- Risk Attitudes (2)
- Risk Management (2)
- Risk Preferences (2)
- Risk-Taking (2)
- Russia (2)
- SWIFT (2)
- Sanctions (2)
- Savings Banks (2)
- Self-control (2)
- Single Resolution Mechanism (2)
- Social Conditioning (2)
- Social Networks (2)
- Social Security (2)
- Social media (2)
- Sovereign Risk (2)
- Sovereign debt (2)
- Sovereign default (2)
- Stochastic mortality risk (2)
- Supply Chain (2)
- Systemically Important Financial Institutions (2)
- Tail Risk (2)
- Tail risk (2)
- Taxation of Capital (2)
- Taxonomy (2)
- Taylor rule (2)
- Term Structure of Interest Rates (2)
- Term life insurance (2)
- Textual Analysis (2)
- Time Inconsistency (2)
- Time Preferences (2)
- Tontines (2)
- Top Income Taxation (2)
- Transfer Learning (2)
- Transition risk (2)
- Transparenz (2)
- Trust (2)
- Twitter (2)
- Ukraine (2)
- Unternehmensanleihen (2)
- Unternehmensfinanzierung (2)
- Volatility Interruption (2)
- Zinssätze (2)
- asset-backed securities (2)
- austerity (2)
- bailouts (2)
- banking separation (2)
- banknotes (2)
- beliefs (2)
- blockchain (2)
- borrowing constraints (2)
- brown-spinning (2)
- capital structure (2)
- central bank communication (2)
- central banking (2)
- central banks (2)
- compensation design (2)
- confidence (2)
- consumer protection (2)
- consumption hump (2)
- contagion (2)
- counterfactual analysis (2)
- credit funds (2)
- credit scoring (2)
- credit scoring methodology (2)
- credit scoring regulation (2)
- crowdfunding (2)
- crowding out (2)
- crowdinvesting (2)
- cryptocurrencies (2)
- debt restructuring (2)
- debt sustainability (2)
- delayed retirement (2)
- derivatives (2)
- discretion (2)
- discretionary decisions (2)
- dynamic portfolio choice (2)
- early retirement (2)
- economic and monetary union (2)
- education (2)
- elections (2)
- entrepreneurship (2)
- equity premium (2)
- euro crisis (2)
- executive compensation (2)
- expectation formation (2)
- finance (2)
- financial advice (2)
- financial frictions (2)
- financial privacy (2)
- financing decisions (2)
- forecasting (2)
- general equilibrium (2)
- global banks (2)
- government bonds (2)
- green finance (2)
- household debt (2)
- housing (2)
- implied volatility (2)
- individual investor (2)
- individual investors (2)
- innovation (2)
- interbank networks (2)
- internal ratings (2)
- investment (2)
- investments (2)
- laboratory experiment (2)
- leverage (2)
- leveraged buyouts (2)
- life insurance (2)
- lifetime income (2)
- liquidity premium (2)
- liquidity provision (2)
- longevity risk (2)
- macro-prudential supervision (2)
- matching (2)
- monetary policy strategy (2)
- monetary transmission mechanism (2)
- money in the utility function (2)
- money market funds (2)
- monitoring (2)
- mortgages (2)
- natural experiment (2)
- net zero transition (2)
- newly founded firms (2)
- overlapping generations (2)
- panel VAR (2)
- pension reform (2)
- pensions (2)
- persistence (2)
- population aging (2)
- principal-agent models (2)
- principles-based regulation (2)
- private companies (2)
- probability of default (2)
- professional networks (2)
- prohibition of proprietary trading (2)
- proprietary trading (2)
- real estate lending (2)
- real-time data (2)
- reale Auswirkungen (2)
- recapitalization (2)
- recursive utility (2)
- refugees (2)
- repeated games (2)
- responsible lending (2)
- retirement (2)
- retirement age (2)
- return predictability (2)
- securities regulation (2)
- shareholder activism (2)
- shareholder recovery (2)
- small and medium enterprises (2)
- social media (2)
- spillover effects (2)
- state-owned enterprises (2)
- statistical discrimination (2)
- stochastic control (2)
- stochastic differential utility (2)
- stock demand (2)
- stock returns (2)
- stockholding (2)
- structured finance (2)
- supervisory arbitrage (2)
- supervisory board (2)
- survey (2)
- sustainable finance (2)
- syndicated loans (2)
- systemisches Risiko (2)
- taxation (2)
- trading behavior (2)
- transmission (2)
- transparency (2)
- wealth inequality (2)
- "Event Study" (1)
- 13F filings (1)
- 2-Sector Model (1)
- 2019 (1)
- ARMA (1)
- Accounting (1)
- Acquisitions (1)
- Activism (1)
- Activist Hedge Fund (1)
- Age (1)
- Aggregate outcomes (1)
- Aging Society (1)
- Algorithmic Feedback Loops (1)
- Algorithmic transparency (1)
- Allocative Effciency (1)
- Alterungsgesellschaft (1)
- Amplification (1)
- AnaCredit (1)
- Anchoring (1)
- Angel (1)
- Annual General Meeting (1)
- Annuity (1)
- Anonymity (1)
- Ansteckungsperiode (1)
- Anticipated Inflation (1)
- Apache Spark (1)
- Appraisal rights (1)
- Arbeitsproduktivität (1)
- Assault (1)
- Asset Allocation, Contagion (1)
- Asset Concentration Risk (1)
- Asset Liquidation (1)
- Asset Management Companies (1)
- Asset Price Bubbles (1)
- Asset Prices (1)
- Asymmetric Information (1)
- Asymmetric Tax Regimes (1)
- Auctions (1)
- Auditing (1)
- Austerity Measures (1)
- BCBS (1)
- BVerfG (1)
- Backward error (1)
- Bailin (1)
- Bank Accounting (1)
- Bank Acquisition (1)
- Bank Bailout (1)
- Bank Capital (1)
- Bank Corporate Governance (1)
- Bank Credit (1)
- Bank Defaults (1)
- Bank Recapitalization (1)
- Bank Recovery and Resolution Directive (BRRD) (1)
- Bank Supervision (1)
- Bank affiliation (1)
- Bank of Japan (1)
- Bank regulation (1)
- Bank's Balance Sheets (1)
- Banking Crisis (1)
- Banking Separation (1)
- Banking Supervision, (1)
- Banking union (1)
- Bargaining (1)
- Batch Learning (1)
- Bayesian analysis (1)
- Bayesian learning (1)
- Bayesian time-varying parameter estimation (1)
- Behavioral Finance (1)
- Behavioral Measurement (1)
- Behavioral finance (1)
- Belief up-dating (1)
- Beliefs and Choice (1)
- Biased Beliefs (1)
- Big Five Personality (1)
- Big Techs (1)
- Big Three (1)
- Big data (1)
- Biodiversity (1)
- Blue Chip (1)
- Board Appointments (1)
- Bond risk premia (1)
- Broker (1)
- Broker Crossing Networks (1)
- Bubbles (1)
- Building Societies (1)
- Burglary (1)
- Business Subsidies (1)
- Business lending (1)
- C corporations (1)
- CAPM (1)
- CBDC (1)
- CCP (1)
- CECL (1)
- CMDI (1)
- CMU (1)
- COVID-19 Pandemic (1)
- CSR (1)
- Capital Markets (1)
- Capital Purchase Program (1)
- Capital allocation (1)
- Carbon Taxation (1)
- Carbon abatement (1)
- Cash (1)
- Caste (1)
- Causal Machine Learning (1)
- Central Bank (1)
- Central Bank Communication (1)
- Central Bank Losses (1)
- Central Banking (1)
- Central Banks (1)
- Central Counterparty Clearing House (CCP) (1)
- Central banks (1)
- Central counterparty clearing house (CCP) (1)
- Centrality (1)
- Choice under Risk (1)
- Choquet (1)
- Citation Network Analysis (1)
- Classification (1)
- Climate change economics (1)
- Climate finance (1)
- Clustering (1)
- CoCo Bond (1)
- CoCo bonds (1)
- CoVaR (1)
- Cognition (1)
- Cointegration (1)
- Collateral Constraint (1)
- Collateral Policy (1)
- Collateral policy (1)
- Colocation (1)
- Commerzbank (1)
- Comovements (1)
- Complex Financial Instruments (1)
- Complexity (1)
- Comprehensive Assessment (1)
- Computational Methods (1)
- Concentration (1)
- Condition number (1)
- Conditionality (1)
- Confirmatory Bias (1)
- Connectivity (1)
- Consulting (1)
- Consumer credit (1)
- Consumer financial protection (1)
- Consumption-portfolio choice (1)
- Contagion Period (1)
- Container Trade (1)
- Contingent Convertible Capital (1)
- Contract terms (1)
- Contractarian Model of Corporate Law (1)
- Corona (1)
- Corona Bonds (1)
- Corporate Debt Structure (1)
- Corporate Distress (1)
- Corporate Groups (1)
- Corporate Investment (1)
- Corporate Name Change (1)
- Corporate bonds (1)
- Corporate concentration (1)
- Corporate financing (1)
- Corporate governance (1)
- Corporate law (1)
- Covid-19-Crisis (1)
- Creative destruction (1)
- Credit Default Swap (CDS) (1)
- Credit default swap (CDS) (1)
- Credit lines (1)
- Creditor Protection (1)
- Creditor Rights (1)
- Crisis Management (1)
- Cross-Section of Returns (1)
- Cross-section of expected returns (1)
- Crowdfunding (1)
- Cultural Economics (1)
- Cultural Finance (1)
- Cultural Influences on Economic Behavior (1)
- Cultural Norms (1)
- Cumulative prospect theory (1)
- Customer data sharing (1)
- Cyclical Income Risk (1)
- DCC-GARCH (1)
- DMA (1)
- DSA (1)
- DSGE model (1)
- Data access (1)
- Data portability (1)
- Database linking (1)
- Decision under risk (1)
- Decomposition methods (1)
- Default (1)
- Delaunay Interpolation (1)
- Delphic forward guidance (1)
- Democratic Legitimacy (1)
- Depreciation (1)
- Derivate (1)
- Designated Market Makers (DMMs) Market Making (1)
- Determinacy (1)
- Deutsche Bank (1)
- Development (1)
- DiD (1)
- Dictionary (1)
- Different Beliefs (1)
- Digital (1)
- Digital currency (1)
- Digital footprints (1)
- Digitalisierung (1)
- Digitalized Markets (1)
- Disclosure Framework (1)
- Discount Functions (1)
- Discount Rates (1)
- Discourse (1)
- Discrimination (1)
- Disinflation (1)
- Disintegration (1)
- Distributed Computing (1)
- Dividend Payments (1)
- Dividend Policy (1)
- Dividends (1)
- Double Volume Caps (1)
- Drag-along rights (1)
- Durable consumption (1)
- Duration of Civil Proceedings (1)
- Dynamic Inconsistency (1)
- Dynamic Models (1)
- Dynamic Networks (1)
- Dynamic and Reliable Regulation (1)
- Dynamic inconsistency (1)
- Dynamic stochastic general equilibrium model (1)
- E-Mobility (1)
- E.U. Corporate Law (1)
- ECJ (1)
- EDIC (1)
- EFSF (1)
- EMU (1)
- ESG Investing (1)
- ESG rating agencies (1)
- ESG ratings (1)
- EU Parliament (1)
- EU Recovery Funds (1)
- EU banks (1)
- EU countries (1)
- EU industrial production (1)
- EU market regulation (1)
- EZB (1)
- Econometrics (1)
- Economic Reforms (1)
- Economic research (1)
- Economics of Information (1)
- Education Subsidy (1)
- Effective Lower Bound (1)
- Efficiency Wages (1)
- Eigene Risiko- und Solvenzbewertung (1)
- Einlagensicherung (1)
- Einlagensicherungsfonds (1)
- Emissions (1)
- Empirical Asset Pricing (1)
- Empirical Contract Theory (1)
- Empowering Private Investors (1)
- Endogenous Asset Market Participation (1)
- Endogenous gridpoints Method (1)
- Energy Efficiency (1)
- Energy Embargo (1)
- Energy Performance Certificate (1)
- Energy efficiency (1)
- Energy prices (1)
- Enriched Digital Footprint (1)
- Enterprise Risk Management (1)
- Entity matching (1)
- Entity resolution (1)
- Entrepreneurial Finance (1)
- Entry and exit (1)
- Environmental, social, and governance factors (ESG) (1)
- Epstein-Weil-Zin Preferences (1)
- Epstein-Zin preferences (1)
- Equilibrium Thinking (1)
- Equity fund (1)
- Equity options (1)
- Estimation (1)
- Ethics (1)
- Euro Area (1)
- Euro-zone Government Bonds (1)
- Europe (1)
- European Banking Authority (1)
- European Banking Authority, Single Supervisory Mechanism (1)
- European Capital Markets Union (1)
- European Central Bank (ECB) (1)
- European Central Bankor (1)
- European Commision (1)
- European Fiscal Pact (1)
- European Insurance Union (1)
- European Insurance and Occupational Pensions Authority (1)
- European Integration (1)
- European Investment Bank (1)
- European Monetary Fund (1)
- European Parliament (1)
- European Supervisory Authorities (1)
- European Systemic Risk Board (1)
- European banks (1)
- European debt crisis (1)
- European integration (1)
- European market fragmentation (1)
- European unemployment insurance (1)
- Europäische Währungsunion (1)
- Eurosystem collateral eligibility (1)
- Excess sensitivity (1)
- Exchange rate regime (1)
- Execution Cost (1)
- Executive Compensation (1)
- Executive Remuneration (1)
- Expectation Error (1)
- Expectation Formation (1)
- Expectation formation (1)
- Expectation–Maximisation (1)
- Expected Returns (1)
- Expected Utility Preferences (1)
- Experience (1)
- Experiences (1)
- Experimental Asset Markets (1)
- Experimental Economics (1)
- Experimental Finance (1)
- Explainable machine learning (1)
- Externalities (1)
- Extracurricular Activities (1)
- Extrapolation (1)
- FOMC (1)
- Fair value (1)
- Fair value accounting (1)
- Family dynamics (1)
- Feedback (1)
- Fiduciary Duties (1)
- FinTech and Textual Analysis (1)
- Finance and Employment (1)
- Financial Advice (1)
- Financial Assistance (1)
- Financial Constraints (1)
- Financial Education (1)
- Financial Integration (1)
- Financial Market Cycles (1)
- Financial Networks (1)
- Financial Regulation and Banking (1)
- Financial Reporting (1)
- Financial Resilience (1)
- Financial Sector (1)
- Financial Supervision (1)
- Financial crisis (1)
- Financial education (1)
- Financial frictions (1)
- Financing Conditions (1)
- Financing Constraints (1)
- Financing Costs (1)
- Finanzkrise (1)
- Finanzmärkte (1)
- Firm Investment (1)
- Firm-bank relationship (1)
- Firms (1)
- Fiscal Capacity (1)
- Fiscal Compact (1)
- Fiscal Consolidation (1)
- Fiscal Crisis (1)
- Fiscal Policies (1)
- Fiscal Solidarity (1)
- Fiscal Stabilization (1)
- Fiscal Stimulus Program (1)
- Fiscal Union (1)
- Fiscal policy (1)
- Fiscal stress (1)
- Fiscal theory of the price level (1)
- Fiskalunion (1)
- Fixed Income (1)
- Fixed-Income (1)
- Flash Crash (1)
- Flash crash (1)
- Flight-to-safety (1)
- Fokker-Planck equation (1)
- Forecasting (1)
- Formalism (1)
- Formative experiences (1)
- Forward Guidance (1)
- Forward error (1)
- Forward-looking models (1)
- Framing e↵ects (1)
- Fraud (1)
- Frequency Domain (1)
- Frictions (1)
- Fusion (1)
- GDP growth (1)
- GFSY (1)
- GMM Estimation (1)
- Gambling (1)
- Game Theory (1)
- Geldpolitik (1)
- Gender Differences (1)
- Gender Gap (1)
- Gender gap (1)
- Gender gaps (1)
- General Equilibrium Asset Pricing (1)
- Generations (1)
- Geopolitics (1)
- German Reunification (1)
- German cooperative banks (1)
- German corporate governance (1)
- German retirement system (1)
- German savings banks (1)
- Germany Inc. (1)
- Gig-economy (1)
- Gini (1)
- Global Optimization (1)
- Global Temperature (1)
- Globalization (1)
- Governance (1)
- Government (1)
- Government debt (1)
- Government spending multiplier (1)
- Granger causality (1)
- Great Recession (1)
- Greek economic crisis (1)
- Green Nudging (1)
- Green Quantitative Easing (1)
- Greenwashing (1)
- Group Interesterest (1)
- Grundsatz der Verhältnismäßigkeit (1)
- Habit-formation (1)
- Hamilton filter (1)
- Hauptkomponentenanalyse (1)
- Hazard estimation (1)
- Health expenses (1)
- Health jumps (1)
- Heterogeneous Firms (1)
- Heterogeneous Preferences (1)
- Heterogeneous agents (1)
- Hierarchies (1)
- High Frequency Data (1)
- High-Frequency Trading (HFT) (1)
- High-Level-Forum (1)
- High-frequency event study (1)
- Higher Moments of Return (1)
- History & Finance (1)
- Home (1)
- Homestead exemptions (1)
- Homophily (1)
- Hong test (1)
- Horizontal sex segregation (1)
- House prices (1)
- Household Consumption (1)
- Household Portfolios (1)
- Household Wealth (1)
- Household saving (1)
- Hybrid Markets (1)
- IPS (1)
- IV approach (1)
- Identification (1)
- Idiosyncratic Income Risk (1)
- Idiosyncratic volatility puzzle (1)
- Imbalances (1)
- Immediacy (1)
- Impairments (1)
- Implicit Guarantees (1)
- Implied volatility (1)
- Impulse-response (1)
- Incentives (1)
- Inclusive Finance (1)
- Incomplete Contracts (1)
- Incomplete markets (1)
- Incubator (1)
- Incurred loss model (1)
- Index Funds (1)
- Individual Investors (1)
- Individual investors (1)
- Industry Classification (1)
- Inflation Beliefs (1)
- Information Acquisition (1)
- Information Frictions (1)
- Information Production (1)
- Information Treatment (1)
- Information processing (1)
- Infrastructure (1)
- Institution formation (1)
- Institution-building (1)
- Institutional Investor (1)
- Institutional Investors (1)
- Institutional Investors’ Ownership (1)
- Insurance Supervision (1)
- Insurance companies (1)
- Insurer Default Risk (1)
- Integrated Assessment Model (1)
- Inter-ethnic Conflict (1)
- Interbank Market (1)
- Interbank Markets (1)
- Interdealer Brokerage (1)
- Interim Report (1)
- Intermediated work (1)
- International Economics (1)
- International Monetary Fund (1)
- International finance (1)
- International relationships (1)
- Interne Kontrollen (1)
- Invasion (1)
- Investment Styles (1)
- Investment attitudes (1)
- Investment funds (1)
- Investment-Specific Shocks (1)
- Investor behavior (1)
- Investor sentiment (1)
- Investors Heterogeneity (1)
- Job Match Quality (1)
- Kalman Filter (1)
- Kapitalallokation (1)
- Kontrahentenrisiko (1)
- Kreditrisiko (1)
- Kultur (1)
- LBO spillovers (1)
- LBOs (1)
- LSTM neural networks (1)
- Labor (1)
- Labor Hoarding (1)
- Labor Income Risk (1)
- Labor Markets (1)
- Labor cost adjustments (1)
- Landeskreditbank Baden-Württemberg (1)
- Lapse Risk (1)
- Law Enforcement (1)
- Law and Finance (1)
- Law and economics (1)
- Law and finance (1)
- Leading indicator (1)
- Lebensversicherung Rückkauf (1)
- Lebensversicherungen verlangen (1)
- Lebensversicherungszinsrisiko (1)
- Lender of Last Resort (1)
- Lending (1)
- Leverage (1)
- Leveraged buyouts (1)
- Libra (1)
- Life Events (1)
- Life course transitions (1)
- Life-cycle hypothesis (1)
- LifeCycle Model (1)
- Liikanen-Kommission (1)
- Limits to Arbitrage (1)
- Liquidation Preferences (1)
- Liquidity Coinsurance (1)
- Liquidity Facilities (1)
- Liquidity Shock (1)
- Liquidity premium (1)
- Liquidity provider incentives (1)
- Liquidity risk (1)
- Living Wills (1)
- Loan loss accounting (1)
- Loan losses (1)
- Loans (1)
- Lobbying (1)
- Local projection (1)
- Locus of control (1)
- Long-Run Risk (1)
- Long-run risk (1)
- Longevity Risk (1)
- Loss-aversion (1)
- Lottery stocks (1)
- Low-emission vehicles (1)
- MTS Bond Market (1)
- Macroeconomics (1)
- Management (1)
- Mandatory Law (1)
- Marginal Propensity to Consume (1)
- Mark-to-market accounting (1)
- Market (in)completeness (1)
- Market Design (1)
- Market Discipline (1)
- Market Efficiency (1)
- Market Fragility (1)
- Market Integrity (1)
- Market Oversight (1)
- Market Power (1)
- Market Quality (1)
- Market efficiency (1)
- Market fragility (1)
- Market fragmentation (1)
- Marketplace lending (1)
- Markov-switching DSGE (1)
- Maximum Likelihood (1)
- Meme stocks (1)
- Mental models (1)
- Merger (1)
- Meritocracy (1)
- MiCA (1)
- Microfinance (1)
- Microprudential Insurance Regulation (1)
- Mikroprudenzielle Versicherungsregulierung (1)
- Minimum Reserves (1)
- Minimum Return Guarantees (1)
- Minority Shareholder Protection (1)
- Mis-selling (1)
- Mitbewohner (1)
- Mitigation (1)
- Mixed-frequency data (1)
- Model Selection (1)
- Model evaluation (1)
- Model uncertainty (1)
- Model-based regulation (1)
- Monetary Policy Surprises (1)
- Monetary policy (1)
- Monetary policy rules (1)
- Monetary policy strategy (1)
- Monetary policy transmission (1)
- Monetary-fiscal interaction (1)
- Money Market (1)
- Money Market Funds (1)
- Monte Carlo Methods (1)
- Monte Carlo simulations (1)
- Monte-Carlo-Simulation (1)
- Moral Hazar (1)
- Moral Hazard (1)
- Morality (1)
- Mortgage supply (1)
- Mortgages (1)
- Motherhood penalty (1)
- Multi-Layer Network (1)
- Multi-level marketing (1)
- Multilayer networks (1)
- Multitasking (1)
- Mundellian trilemma (1)
- Mutual Funds (1)
- Mutual funds (1)
- Mutually Exciting Processes (1)
- Mutually exciting processes (1)
- NCAs (1)
- NLP (1)
- Narrative Approach (1)
- Narrative Identification (1)
- Natural Language Processing (1)
- Negativzinsen (1)
- Net-zero transition (1)
- Network Combination (1)
- Network Communities (1)
- Network theory (1)
- Networks (1)
- Neural Network (1)
- Neural Networks (1)
- New Keynesian DSGE (1)
- New Keynesian Models (1)
- New Keynesian macro-epidemic models (1)
- Nominal Rigidities (1)
- Non-Compete Agreements (1)
- Non-bank lead arrangers (1)
- Non-governmental Organizations (1)
- Nonlinear Bayesian Estimation (1)
- Nonlinear solution methods (1)
- Numerical Solution (1)
- ORSA (1)
- OTC Markets (1)
- OTC derivatives (1)
- OTC-Märkte (1)
- Obfuscation (1)
- Occasionally Binding Constraints (1)
- Oil market (1)
- On-the-Job Search (1)
- Online Poker (1)
- Open Banking Platform Germany (1)
- Open banking (1)
- Opening Auction (1)
- Opening Call Auction (1)
- Optimal Regulation (1)
- Optimal monetary policy (1)
- Optimism (1)
- Organizational Economics (1)
- Output Gap (1)
- Outright Monetary Transactions (1)
- Over-Confidence (1)
- Own Risk and Solvency Assessment (1)
- Own Self Risk Assessment (1)
- PPEP (1)
- Pandemic (1)
- Parameter Uncertainty (1)
- Patents (1)
- Paycheck Protection Program (1)
- Paycheck Sensitivity (1)
- Pecuniary Externalities (1)
- Pecuniary Externality (1)
- Peer effects (1)
- Peers (1)
- Pension system (1)
- Perceptions (1)
- Persistent and Transitory Income Shocks (1)
- Personal Finance (1)
- Personal bankruptcy (1)
- Personality traits (1)
- Personnel Economics (1)
- Phillips Curve (1)
- Pivotality (1)
- Plaintiff Lawyers (1)
- Planning (1)
- Policy Analysis (1)
- Policy Effects (1)
- Policy measures in the EU (1)
- Political Economy (1)
- Political Union (1)
- Politische Union (1)
- Pollution (1)
- Portfolio Management (1)
- Portfolio Rebalancing (1)
- Portfolio allocation (1)
- Portfoliooptimierung (1)
- Potential Output (1)
- Pre-Opening (1)
- Preference Stability (1)
- Preference for early resolution of uncertainty (1)
- Preference survey module (1)
- Price Competition (1)
- Price Pressures (1)
- Price Uncertainty (1)
- Principal Component Analysis (1)
- Private Equity (1)
- Private ordering (1)
- Probability Weighting Function (1)
- Product returns (1)
- Production (1)
- Production Economy (1)
- Production-based asset pricing (1)
- Productivity and Growth (1)
- Productivity growth (1)
- Produktivitätsunterschiede (1)
- Program Evaluation (1)
- Progressive Taxation (1)
- Proprietary Trading (1)
- Prosociality (1)
- Prospect Theory (1)
- Prudential filter (1)
- Prudential oversight (1)
- Public Finance (1)
- Public Goods (1)
- Public Private Partnership (1)
- Public financial news (1)
- Public-Private Partnerships (1)
- QE (1)
- Quantile Causality (1)
- Quantitative easing (1)
- Quid-pro-quo Mechanism (1)
- R&D Investment (1)
- RCT (1)
- Rating Agencies (1)
- Rational Inattention (1)
- Real-Time Data (1)
- Realization Utility (1)
- Record resolution (1)
- Redemptions (1)
- Referral to the ECJ (1)
- Referrals (1)
- Regime switching (1)
- Regulation Capital Requirements (1)
- Regulations (1)
- Regulatory Arbitrage (1)
- Regulatory Capture (1)
- Regulierung (1)
- Related Party Transactions (1)
- Religion (1)
- Renten (1)
- Repeated Games (1)
- Repeated Principal-Agent Model (1)
- Replication (1)
- Repo Markets (1)
- Repo Specialness (1)
- Reporting Standards (1)
- Reputation (1)
- Resolution Planning (1)
- Responsible investment (1)
- Restructuring (1)
- Retail Banking (1)
- Retail Challenge (1)
- Retirement (1)
- Retirement Welfare (1)
- Return predictability (1)
- Reversible Jump Markov Chain Monte Carlo (1)
- Revisions (1)
- Risikoaggregation (1)
- Risikobegrenzung (1)
- Risikobereitschaft (1)
- Risikokapitalallokation (1)
- Risikokommunikation (1)
- Risikomanagement (1)
- Risikomessung (1)
- Risk (1)
- Risk Aversion (1)
- Risk Pooling (1)
- Risk Premium (1)
- Risk aggregation (1)
- Risk capital allocation (1)
- Risk communication (1)
- Risk limiting (1)
- Risk measurement (1)
- Risk sharing (1)
- Risk taking (1)
- Robo-Advising (1)
- Rubin Causal Model (1)
- Ruhestand (1)
- Rule of Law (1)
- Russian Economy (1)
- Russian Sanction (1)
- S corporations (1)
- S&P 500 (1)
- SFDR (1)
- SIFI (1)
- SME Trading (1)
- SRB (1)
- SRF (1)
- STS (simple, transparent, and standardized securitizations) (1)
- Saving puzzles (1)
- Say on Pay (1)
- Scenario analysis (1)
- Schock <Wirtschaft> (1)
- Schuldenkrise (1)
- Search Frictions (1)
- Secondary Loan Markets (1)
- Sectoral Asset Diversification (1)
- Securities Market Regulation (1)
- Securitisation (1)
- Securitization (1)
- Segmentation (1)
- Self-Control (1)
- Selling Behavior (1)
- Sentiment Analysis (1)
- Sentiment analysis (1)
- Shadow Banking (1)
- Shareholder Letters (1)
- Shareholder Rights Directive (1)
- Short-run Risk (1)
- Sicherheitenmarge (1)
- Sign Restrictions (1)
- Signaling (1)
- Similarity (1)
- Similarity encoding (1)
- Sin Stocks (1)
- Single Banking Market (1)
- Single Resolution Mechanism (SRM) (1)
- Single Supervisy Mechanism (1)
- Skewness (1)
- Slow-Moving Capital (1)
- Slow-moving capital (1)
- Small Business (1)
- Social Capital (1)
- Social Learning (1)
- Social Security claiming (1)
- Social Security claiming age (1)
- Social Security solvency (1)
- Social networks (1)
- Social trading (1)
- Socially responsible investing (1)
- Socially responsible investments (1)
- Sociology of Finance (1)
- Soft Information (1)
- Solvabilitätsrichtlinien (1)
- Solvency regulation (1)
- Sovereign (1)
- Sovereign Bonds (1)
- Sovereign CDS (1)
- Sovereign Debt (1)
- Sovereign credit risk (1)
- Sovereign risk (1)
- Sparsity (1)
- Spatial autoregressive model (1)
- Speculation (1)
- Spike–and–Slab prior (1)
- Spillover Effects (1)
- Spillover-Effekte (1)
- Staatsschuldenkrise (1)
- Stability and Growth Pact (1)
- Stages (1)
- Start-ups (1)
- States (1)
- Stay-Home (1)
- Sticky Information (1)
- Stochastic Search Variable Selection (1)
- Stochastic volatility (1)
- Stock Market (1)
- Stock Market Participation (1)
- Stock Markets (1)
- Stock market (1)
- Stock market wealth (1)
- Stock markets (1)
- Stockholding (1)
- Stornorisiko (1)
- Structural Bank Reform (1)
- Structural change (1)
- Structural policies (1)
- Structured retail products (1)
- Subjective Survival Beliefs (1)
- Subjective expectations (1)
- Such-Matching- Sortierung (1)
- Supervision (1)
- Supervisory Achitecture (1)
- Supervisory Relief Measures (1)
- Surrender (1)
- Surrender Options (1)
- Survey Data (1)
- Sustainabilty (1)
- Swiss Army Knife (1)
- Systematic Internalizer (1)
- Systematisches Risiko (1)
- Systemic events (1)
- Systemisches Risiko (1)
- Szenarioanalyse (1)
- TARGET balances (1)
- TARP (1)
- TIPS (1)
- TIPS–Treasury puzzle (1)
- TLTRO (1)
- Target 2 (1)
- Tax Cuts and Jobs Act (1)
- Tax Havens (1)
- Tax Multiplier (1)
- Taxonomie (1)
- Taylor Rule (1)
- Technology Adoption (1)
- Technology Park (1)
- Technology spillover (1)
- Temperature variability (1)
- Temporal aggregation (1)
- The Community Reinvestment Act (1)
- Theft (1)
- Three-Pillar-System (1)
- Time-varying networks (1)
- Tobin tax (1)
- Too-Big-To-Fail (1)
- Toxic Emissions (1)
- Trade sales (1)
- Trading volume (1)
- Trados (1)
- Transaction Data (1)
- Transaction costs (1)
- Transitional Dynamics (1)
- Transparency Aversion (1)
- Transparenz Aversion (1)
- Tree-based models (1)
- Trennbanken (1)
- Trust Game (1)
- Tunneling (1)
- Turning points (1)
- UK (1)
- US top-wealth shares (1)
- USA (1)
- Uncertainty (1)
- Unconventional Monetary policy (1)
- Unemployment (1)
- Utility Functions (1)
- Utility Theory (1)
- Utilization (1)
- VAR estimation (1)
- Value-at-risk (1)
- Variance Risk Premium (1)
- Venture capital (1)
- Venue Choice (1)
- Verlustbeteiligung (1)
- Vermögensaufteilung (1)
- Vermögenskonzentrationsrisiko (1)
- Volatility (1)
- Vorstand (1)
- WHO alerts (1)
- Wage Rigidity (1)
- Wage rigidity (1)
- Weak Instruments (1)
- Wealth shocks (1)
- Welfare (1)
- Welfare Costs (1)
- Wohlfahrt (1)
- Wohneigentum (1)
- Word Embedding (1)
- WpHG (1)
- Währungsunion (1)
- XAI (1)
- Year (1)
- Zentrales Clearing (1)
- Zentralnbank (1)
- Zero lower bound (1)
- Zinsrisiko (1)
- Zinsrisiko der Lebensversicherung (1)
- Zombie Lending (1)
- accountability (1)
- active shareholders (1)
- adaptation (1)
- adverse selection (1)
- age (1)
- age limits (1)
- agency (1)
- agglomeration (1)
- aggregate uncertainty (1)
- aging (1)
- allocation bias (1)
- ambiguity premium (1)
- angel finance (1)
- anomalies (1)
- asset markets (1)
- asset prices (1)
- asset purchases (1)
- assetbacked securities (1)
- asymmetric and private information (1)
- asymmetric shocks (1)
- attitudes towards inequality (1)
- auction format (1)
- audit quality, (1)
- average treatment effect (1)
- balance of payments (1)
- balance sheet adjustment (1)
- balance sheet risk (1)
- bank (1)
- bank and non-bank financial intermediation (1)
- bank bonds (1)
- bank capital (1)
- bank capital ratios (1)
- bank integration (1)
- bank lending (1)
- bank performance (1)
- bank resolution regimes (1)
- bank risk (1)
- bank runs (1)
- bank sanctions (1)
- bank stability (1)
- banking and treasury functions (1)
- banking networks (1)
- banking resolution (1)
- banking supervision, (1)
- banking systems (1)
- behavioral economics (1)
- behavioral inattention (1)
- belief effect (1)
- belief estimation (1)
- belief formation (1)
- belief updates (1)
- belief updating (1)
- benchmarks (1)
- betrayal aversion (1)
- betting (1)
- biased beliefs (1)
- bid-ask spread (1)
- bidder surplus (1)
- big data (1)
- bilateral investment treaties (1)
- biometric risks (1)
- bitcoin (1)
- bond market liquidity (1)
- bond markets (1)
- booms (1)
- borrowing (1)
- bounded rationality (1)
- bureaucrats' incentives (1)
- business cycle (1)
- call auctions (1)
- capacity utilization (1)
- capital (1)
- capital injection to banks (1)
- capital liquidations (1)
- capital maintenance (1)
- capital ratios (1)
- capital re-cycling (1)
- capital taxation (1)
- capital taxes (1)
- caps (1)
- capture (1)
- career concerns (1)
- cartel damages (1)
- cash (1)
- cash equity markets (1)
- cash-in-advance (1)
- catastrophe bond (1)
- catastrophic events (1)
- catastrophic risk (1)
- central bank (1)
- central bank accountability (1)
- central bank governance (1)
- central bank governor (1)
- central bank policy (1)
- central counter parties (1)
- central counterparties (1)
- centralisation (1)
- centrality metrics (1)
- cheating (1)
- client involvement (1)
- cliff effect (1)
- climate (1)
- climate behavior (1)
- climate policies (1)
- climate risk (1)
- climate-economy models (1)
- climate-related disclosures (1)
- co-residence (1)
- cognitive load (1)
- cognitive sophistication (1)
- coinvestment (1)
- collateral (1)
- collateral reuse (1)
- collective action (1)
- collective action clauses (1)
- commercial banks (1)
- common ownership (1)
- compensation (1)
- competitive equilibrium (1)
- competitiveness (1)
- compliance behavior (1)
- comprehensive assessment (1)
- conditionality (1)
- confirmatory biases (1)
- conflict of laws (1)
- connected industries (1)
- construction procurement (1)
- consumer credit (1)
- consumer education (1)
- consumption commitments (1)
- consumption expenditure (1)
- consumption smoothing (1)
- consumption-based models (1)
- consumption-portfolio decisions (1)
- content analysis (1)
- contest (1)
- contingent capital (1)
- continuous limit order book (1)
- contract law (1)
- control by Court of Auditors (1)
- conventional monetary policy (1)
- coordination (1)
- corona bonds (1)
- corona crisis (1)
- corporate bonds (1)
- corporate debt (1)
- corporate deposits (1)
- corporate governance codes (1)
- corporate income tax (1)
- corporate restructuring (1)
- corporate savings (1)
- corporate taxation (1)
- corporate taxes (1)
- counterfactual decompositions (1)
- counterfactual thinking (1)
- credence goods (1)
- credit channel (1)
- credit constraints (1)
- credit default swap (1)
- credit losses (1)
- credit rationing (1)
- credit risk transfer (1)
- creditors runs (1)
- crisis (1)
- cross-border insolvency (1)
- cross-border institutions (1)
- cross-border political access (1)
- cross-regional mobility (1)
- cross-section of expected stock returns (1)
- cross-section of stock return (1)
- cross-section of stock returns (1)
- crowdlending (1)
- crowdsponsoring (1)
- cryptocurrency (1)
- culture (1)
- currency board (1)
- current account (1)
- cycle flows (1)
- cyclical liabilities (1)
- dash-for-cash (1)
- debt consolidation (1)
- debt cost (1)
- debt relief to households (1)
- decentralization theorem (1)
- default (1)
- default premium (1)
- delayed claiming (1)
- deleveraging (1)
- democracy (1)
- demographic change (1)
- demographic trends (1)
- deposit guarantee scheme (1)
- deposit insurance (1)
- deposits (1)
- deregulation (1)
- designated market makers (1)
- die game milk (1)
- differences of opinion (1)
- diffusion of norms (1)
- digital planning tool (1)
- digitalization (1)
- directors (1)
- disagreement (1)
- disaster risk (1)
- discourse analysis (1)
- distress (1)
- distributed ledger technology (1)
- distributional consequences of monetary policy (1)
- diversity (1)
- divestments (1)
- dollar funding (1)
- duration of civil proceedings (1)
- duration of pay (1)
- dynamic correlation (1)
- dynamic factor models (1)
- dynamic inconsistency (1)
- earnings management (1)
- economic governance (1)
- economic policy (1)
- economic preferences (1)
- economic rationality (1)
- economic reforms (1)
- economies of scale (1)
- electricity (1)
- electronic trading (1)
- emergency liquidity assistance (ELA) (1)
- emergency loans (1)
- emissions trading system (ETS) (1)
- employees (1)
- employer-employee level dataset (1)
- employment (1)
- endogenous growth (1)
- endogenous information acquisition (1)
- endogenous risk (1)
- energy (1)
- energy crisis (1)
- entrepreneurial spawning (1)
- equilibrium (1)
- equilibrium interest rate (1)
- equity (1)
- equity cost (1)
- equity market integration (1)
- equity options (1)
- equity trading (1)
- erm structure of interest rates (1)
- euro (1)
- eurozone (1)
- event study (1)
- executive labor market (1)
- exit (1)
- exit strategies (1)
- expectation gap (1)
- experiences (1)
- experimental asset markets (1)
- experimental economics (1)
- externalities (1)
- factor timing (1)
- fairness (1)
- familiarity (1)
- federal transfers (1)
- fiduciary (1)
- field study (1)
- filtering (1)
- finance and development (1)
- finance and employment (1)
- finance wage premium (1)
- financial constraints (1)
- financial contracts (1)
- financial cycles (1)
- financial decision-making (1)
- financial disasters (1)
- financial fragility (1)
- financial innovation (1)
- financial innovations (1)
- financial institutions (1)
- financial literacy determinants (1)
- financial market (1)
- financial market data (1)
- financial market regulation (1)
- financial market supervision (1)
- financial markets regulation (1)
- financial models (1)
- financial reporting quality (1)
- financial resilience (1)
- financial retrenchment (1)
- financial risk-taking (1)
- financial services (1)
- financial solidarity (1)
- financial spillover (1)
- financial stablity (1)
- financial supervision (1)
- financial system (1)
- financial transaction data (1)
- financial transaction tax (1)
- financing (1)
- financing constraint (1)
- financing policy (1)
- fire sales (1)
- firm growth (1)
- firm value (1)
- first-price auctions (1)
- fiscal adjustment (1)
- fiscal austerity (1)
- fiscal crisis (1)
- fiscal decentralization (1)
- fiscal federalism (1)
- fiscal financial vulnerabilities (1)
- fiscal multipliers (1)
- fiscal policy transmission (1)
- fiscal reaction function (1)
- fiscal responsibility (1)
- fiscal solidarity (1)
- fiscal stimulus (1)
- fiscal stress (1)
- fiscal transfers (1)
- fiscal union (1)
- fiscal variables (1)
- fixed point approach (1)
- flash crashes (1)
- flexible-hour contracts (1)
- floating net asset value (FNAV) (1)
- floors (1)
- forecasts (1)
- foreign direct investment (1)
- foreign portfolio investment (1)
- fragmentation (1)
- frequency domain (1)
- frequent batch auctions (1)
- functional finance approach (1)
- funding dry-ups (1)
- furlough (1)
- gender wage gap (1)
- geo-economics (1)
- geographic expansion (1)
- geopolitical risk (1)
- german banking system (1)
- german banks (1)
- global co-movement (1)
- global preference survey (1)
- globalization (1)
- goal orientation (1)
- government (1)
- government debt (1)
- government finance (1)
- greek crisis (1)
- green central bank policy (1)
- green financing (1)
- group identity (1)
- group law (1)
- group size (1)
- habit (1)
- habit formation (1)
- health (1)
- hedging (1)
- hedging errors (1)
- heterogeneity (1)
- heterogeneous beliefs (1)
- heterogeneous expectations (1)
- heterogeneous monetary policy response (1)
- heterogeneous wage rigidity (1)
- high consumption volatility (1)
- high-frequency data (1)
- high-frequency traders (HFTs) (1)
- high-frequency trading (1)
- holdout litigation (1)
- homeownership (1)
- honesty (1)
- hours per capita measurement (1)
- household income (1)
- household liquidity (1)
- household savings (1)
- household finance (1)
- households (1)
- housing debt crisis (1)
- housing expenditure share (1)
- ideational shift (1)
- identification (1)
- idiosynkratisches Risiko (1)
- idle time (1)
- impulse analysis (1)
- incentive pay (1)
- incentives for investment (1)
- incidence (1)
- income dependent inflation (1)
- income distribution (1)
- incomplete information (1)
- independent private values (1)
- index funds (1)
- individual retirement account (1)
- industrial organization (1)
- inference (1)
- inflation expectations (1)
- inflation forecasting (1)
- inflation swaps (1)
- inflation target (1)
- informal markets (1)
- information (1)
- information demand (1)
- information flow (1)
- information networks (1)
- information processing (1)
- informational externalities (1)
- informativeness principle (1)
- infrastructural power (1)
- institutional design (1)
- insurance demand (1)
- insurance guarantee schemes (1)
- insurance industry (1)
- insurance market (1)
- insurance supervision (1)
- interbank market (1)
- interbank network (1)
- interconnections (1)
- interdependent preferences (1)
- interest-rate channel (1)
- internal capital markets (1)
- internal rating models (1)
- international diversification benefits (1)
- international taxation (1)
- interregionale Mobilitätsinkongruenz (1)
- inverse probability weighting (1)
- investment behavior (1)
- investment biases (1)
- investment forum (1)
- investment guarantee (1)
- investment mistakes (1)
- investor behavior (1)
- investor coalitions (1)
- investor preferences (1)
- investor protection (1)
- investor segmentation (1)
- investor sentiment (1)
- isk premiums (1)
- jump risk (1)
- jumps (1)
- jumps in aggregate consumption (1)
- jumps in the longrun growth rate (1)
- labelling (1)
- labels (1)
- labor demand (1)
- labor hoarding (1)
- labor income taxes (1)
- labor market (1)
- labor mobility (1)
- labor supply (1)
- labour economics (1)
- labour market policies (1)
- large language models (1)
- latency arbitrage (1)
- law (1)
- law enforcement (1)
- learning strategy (1)
- leasing (1)
- legal transplants (1)
- leisure (1)
- lender of last resort (1)
- lending (1)
- level and slope of implied volatility smile (1)
- level playing field (1)
- life cycle model (1)
- life cycle saving (1)
- life expectancy (1)
- life insurance demand (1)
- life-cycle (1)
- life-cycle behavior (1)
- life-cycle household decisions (1)
- life-cycle hypothesis (1)
- life-cycle models (1)
- lifecycle (1)
- liftoff (1)
- likelihood insensitivity (1)
- limited arbitrage (1)
- liquid assets (1)
- liquidity risk (1)
- liquidity runs (1)
- loan officer (1)
- loan origination (1)
- local projection (1)
- local projections (1)
- locally non-diversifiable risk (1)
- location decisions (1)
- lockdown costs (1)
- long-run growth (1)
- long-run risk (1)
- longevity (1)
- loss sharing (1)
- losses (1)
- lottery-type assets (1)
- low frequency trends (1)
- low interest rate environment (1)
- lump sum (1)
- machine learning (1)
- macro-finance (1)
- macro-financial models (1)
- macro-prudential policy (1)
- macroeconomic conditions (1)
- macroeconomic experiences (1)
- macroeconomic models (1)
- macrofinancial linkages (1)
- macroprudential franework (1)
- macroprudential policy transmission (1)
- macroprudential regulation (1)
- macroprudential supervision (1)
- management compensation (1)
- managerial incentives (1)
- mandatory disclosure (1)
- marginal propensity to consume (1)
- market design (1)
- market enforcement (1)
- market fragmentation (1)
- market infrastructure (1)
- market making (1)
- market microstructure (1)
- market price (1)
- market quality (1)
- market supervision (1)
- market-based (1)
- market-based financial intermediation (1)
- market-making (1)
- maturity (1)
- measure of ambiguity (1)
- media polarization (1)
- mergers and acquisitions (1)
- micro data transparency (1)
- microdata (1)
- microfoundations (1)
- microprudential supervision (1)
- mismatch (1)
- misperception (1)
- mnimum distribution requirements (1)
- monetary financing (1)
- monetary institutions (1)
- monetary law (1)
- monetary penalties (1)
- monetary policy rule (1)
- monetary policy rules (1)
- monetary policy surprise (1)
- monetary policy surprise shocks (1)
- monetary policy transmission (1)
- monetary transmission (1)
- moral hazard (1)
- moral values (1)
- motivated beliefs (1)
- motivated reasoning (1)
- motivation for honesty (1)
- multi-unit auctions (1)
- multinational firms (1)
- multiple equilibria (1)
- multiple point of entry (1)
- multiplex networks (1)
- nachrangiges Fremdkapital (1)
- national interest (1)
- natural disasters (1)
- natural gas (1)
- natural rate (1)
- negative interest rates (1)
- neoinstitutionalism (1)
- net-zero arbitrage (1)
- net-zero plans and targets (1)
- net-zero transition (1)
- network (1)
- network analysis (1)
- network model (1)
- new fiscal compact (1)
- nominal rigidity (1)
- non-Bayesian updates (1)
- non-linear VAR (1)
- non-performing assets (1)
- nonlinearity (1)
- numerical solution method (1)
- online borrowing (1)
- online experiments (1)
- open economy (1)
- operational performance (1)
- opinion (1)
- opportunity (1)
- optimal investment (1)
- optimal stopping (1)
- optimum currency area (1)
- option prices (1)
- otc derivatives markets (1)
- outgroup derogation (1)
- output fluctuations (1)
- output gap (1)
- output gap estimates (1)
- output hysteresis (1)
- ownership disclosure (1)
- pandemic economics (1)
- pandemic insurance (1)
- pandemics (1)
- panel data (1)
- panel vector autoregression (1)
- parameter uncertainty (1)
- pari passu clauses (1)
- passive investors (1)
- patents (1)
- paycheck frequency (1)
- payment system (1)
- payment systems (1)
- peer to peer payment systems (1)
- perceived wealth (1)
- personality traits (1)
- pessimism (1)
- pharmaceutical industry (1)
- placebo technique (1)
- polarization (1)
- policy (1)
- policy evaluation (1)
- policy measures in the EU (1)
- policy normalization (1)
- policy reform (1)
- policy robustness (1)
- political polarization (1)
- pooling equilibrium (1)
- portfolio allocation (1)
- portfolio management (1)
- potential output (1)
- precautionary insurance (1)
- precautionary recapitalization (1)
- predictability (1)
- present bias (1)
- pricing (1)
- principal components (1)
- private benefits of control (1)
- private business (1)
- private markets (1)
- private sector involvement (1)
- productivity differentials (1)
- productivity growth (1)
- profit weights (1)
- propagation of inequality (1)
- propensity score (1)
- property rights (1)
- proportionality (1)
- proprietary trading ban (1)
- protected values (1)
- provisioning rules (1)
- prudence (1)
- prudential regulation (1)
- public finance (1)
- public markets (1)
- public private partnership (1)
- public-private relations (1)
- racial inequality (1)
- randomized controlled trial (1)
- rank feedback (1)
- recent economic crisis (1)
- recession (1)
- recursive preferences (1)
- redistribution (1)
- regression adjustment (1)
- regression discontinuity design (1)
- rehypothecation (1)
- related party transactions (1)
- relative performance evaluation (1)
- relative performance feedback (1)
- renting vs. owning home (1)
- replication (1)
- repo market (1)
- reporting (1)
- resiliency (1)
- responsibility (1)
- restatements (1)
- retained earnings (1)
- retention (1)
- retirement expectations (1)
- retirement planning (1)
- return expectations (1)
- reverse mortgage (1)
- risk management (1)
- risk preference (1)
- risk premia (1)
- risk sharing (1)
- risk taking (1)
- risk-shifting (1)
- risk-taking channel of monetary policy (1)
- robust monetary policy (1)
- rules vs discretion (1)
- safe assets (1)
- saving behavior (1)
- saving puzzles (1)
- savings accounts (1)
- savings banks (1)
- say-on-pay (1)
- screening (1)
- search and matching (1)
- search-matching (1)
- secrecy (1)
- secular stagnation (1)
- securities lending (1)
- securities markets (1)
- sektorale Vermögensdiversifizierung (1)
- self-control (1)
- sentiment (1)
- separating equilibrium (1)
- severance pay caps (1)
- severity (1)
- shareholder wealth (1)
- shareholderism (1)
- shocks (1)
- short-sale constraints (1)
- short-sales (1)
- simple rules (1)
- single point of entry (1)
- skewness (1)
- skill-biased technological change (1)
- slumps (1)
- sniping (1)
- social (1)
- social centralization (1)
- social dilemma (1)
- social dilemmas (1)
- social identity (1)
- social impact bonds (1)
- social networks (1)
- social relations (1)
- social security claiming (1)
- socialist education (1)
- socially responsible consumers (1)
- soft law (1)
- solution methods (1)
- solvency shocks (1)
- sorting (1)
- source dependence (1)
- sovereign bonds (1)
- sovereign credit rating (1)
- sovereign debt (1)
- sovereign debt crisis (1)
- sovereign debt litigation (1)
- sovereign debt restructuring (1)
- sovereign debt standstill (1)
- sovereign risk (1)
- speculative trading (1)
- spending cuts (1)
- spillovers (1)
- spread premium (1)
- sset pricing (1)
- stabilization (1)
- stable convergence (1)
- stakeholder (1)
- stakeholders (1)
- staleness (1)
- state (1)
- state dependency (1)
- statistical risk measurement (1)
- statistical testing (1)
- statistics (1)
- stewardship codes (1)
- stock market (1)
- stock market crisis (1)
- stock market investment (1)
- stock market participation (1)
- stock market reaction (1)
- stock market volatility (1)
- strategic interaction of regulators (1)
- strategies (1)
- strategy review (1)
- stress test (1)
- structural power (1)
- subjective expectations (1)
- subordinated debt (1)
- supervision (1)
- survey experiments (1)
- survey forecasts (1)
- sustainability disclosures (1)
- sustainable investments (1)
- synchronization (1)
- systematic risk (1)
- systematisches Risiko (1)
- systemic importance (1)
- systemic risk analysis (1)
- tax (1)
- tax competition (1)
- tax cut (1)
- tax haven (1)
- tax havens (1)
- tax information exchange (1)
- tax information exchange agreements (1)
- tax intervention (1)
- tax policy (1)
- tax reform (1)
- taxing rights (1)
- taxonomies (1)
- technological growth (1)
- technology diffusion (1)
- temperature shocks (1)
- term premia (1)
- threshold vector auto-regressive models (1)
- time dependency (1)
- time inconsistency (1)
- time series momentum (1)
- time-varying parameter (1)
- time-varying risk premia (1)
- too big to fail (1)
- topic modelling (1)
- total loss absorbing capacity (TLAC) (1)
- trading (1)
- trading activity (1)
- trading strategies (1)
- transactions (1)
- transition risk (1)
- treasury auctions (1)
- trend chasing (1)
- trend inflation (1)
- trend-cycle decomposition (1)
- trend-extrapolation (1)
- trust games (1)
- tunneling (1)
- two-pillar system (1)
- updating (1)
- utility functions (1)
- validation (1)
- valuation discount (1)
- valuation ratios (1)
- value-at-risk (1)
- values (1)
- variable annuity (1)
- venture capital (1)
- vertical fiscal imbalances (1)
- volatility of volatility (1)
- vulture creditors (1)
- wage hump (1)
- war (1)
- waterbed effect (1)
- wealth (1)
- wealth distribution (1)
- wealth effects (1)
- welfare costs (1)
- welfare loss (1)
- wholesale shocks (1)
- worker-firm panels (1)
- workforce (1)
- working hours (1)
- yield curve (1)
- yield spreads (1)
- yields (1)
- z-Transform (1)
- zero returns (1)
- fiscal multipliers (1)
- fiscal policy (1)
- Überschneidung von Generationen (1)
- “Macro-regions” (1)
- financial literacy (1)
Institute
- Sustainable Architecture for Finance in Europe (SAFE) (1043) (remove)
We test two hypotheses, based on sexual selection theory, about gender differences in costly social interactions. Differential selectivity states that women invest less than men in interactions with new individuals. Differential opportunism states that women’s investment in social interactions is less responsive to information about the interaction’s payoffs. The hypotheses imply that women’s social networks are more stable and path dependent and composed of a greater proportion of strong relative to weak links. During their introductory week, we let new university students play an experimental trust game, first with one anonymous partner, then with the same and a new partner. Consistent with our hypotheses, we find that women invest less than men in new partners and that their investments are only half as responsive to information about the likely returns to the investment. Moreover, subsequent formation of students’ real social networks is consistent with the experimental results: being randomly assigned to the same introductory group has a much larger positive effect on women’s likelihood of reporting a subsequent friendship.
This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase in lifetime annuity benefits, for a lump sum would induce later claiming and additional work. We show that people would voluntarily claim about half a year later if the lump sum were paid for claiming any time after the Early Retirement Age, and about two-thirds of a year later if the lump sum were paid only for those claiming after their Full Retirement Age. Overall, people will work one-third to one-half of the additional months, compared to the status quo. Those who would currently claim at the youngest ages are likely to be most responsive to the offer of a lump sum benefit.
This policy letter provides evidence for the crucial importance of the initial regulatory treatment for the further development of financial innovations by exploring the emergence and initial legal framing of off-balance-sheet leasing in Germany. Due to a missing legal framework, lease contracts occurred as an innovative social practice of off-balance-sheet financing. However, this lacking legal framing impeded the development of this financial innovation as it also created legal uncertainties. This was about to change after the initial legal framing of leasing in the 1970’s which eliminated those legal uncertainties and off-balance-sheet leasing entered into a stunning period of growth while laying the foundation of a regulatory resiliency against efforts that seek to abandon the off-balance-sheet treatment of leases. As the initial legal framing is crucial for the further development of a financial innovation, we propose the French approach for the initial vindication of new financial products in which the principles-based rules are aligned with the capabilities of regulators to intervene, even when a financial innovation complies with the letter of the law. In this way, regulators could regulate the frontier of financial innovations and weed out those which are entirely or mainly driven by regulatory arbitrage considerations while maintaining the beneficial elements of those products.
Why MREL won’t help much
(2017)
The bail-in tool as implemented in the European bank resolution framework suffers from severe shortcomings. To some extent, the regulatory framework can remedy the impediments to the desirable incentive effect of private sector involvement (PSI) that emanate from a lack of predictability of outcomes, if it compels banks to issue a sufficiently sized minimum of high-quality, easy to bail-in (subordinated) liabilities. Yet, even the limited improvements any prescription of bail-in capital can offer for PSI’s operational effectiveness seem compromised in important respects.
The main problem, echoing the general concerns voiced against the European bail-in regime, is that the specifications for minimum requirements for own funds and eligible liabilities (MREL) are also highly detailed and discretionary and thus alleviate the predicament of investors in bail-in debt, at best, only insufficiently. Quite importantly, given the character of typical MREL instruments as non-runnable long-term debt, even if investors are able to gauge the relevant risk of PSI in a bank’s failure correctly at the time of purchase, subsequent adjustment of MREL-prescriptions by competent or resolution authorities potentially change the risk profile of the pertinent instruments. Therefore, original pricing decisions may prove inadequate and so may market discipline that follows from them.
The pending European legislation aims at an implementation of the already complex specifications of the Financial Stability Board (FSB) for Total Loss Absorbing Capacity (TLAC) by very detailed and case specific amendments to both the regulatory capital and the resolution regime with an exorbitant emphasis on proportionality and technical fine-tuning. What gets lost in this approach, however, is the key policy objective of enhanced market discipline through predictable PSI: it is hardly conceivable that the pricing of MREL-instruments reflects an accurate risk-assessment of investors because of the many discretionary choices a multitude of agencies are supposed to make and revisit in the administration of the new regime. To prove this conclusion, this chapter looks in more detail at the regulatory objectives of the BRRD’s prescriptions for MREL and their implementation in the prospectively amended European supervisory and resolution framework.
The bail-in tool as implemented in the European bank resolution framework suffers from severe shortcomings. To some extent, the regulatory framework can remedy the impediments to the desirable incentive effect of private sector involvement (PSI) that emanate from a lack of predictability of outcomes, if it compels banks to issue a sufficiently sized minimum of high-quality, easy to bail-in (subordinated) liabilities. Yet, even the limited improvements any prescription of bail-in capital can offer for PSI’s operational effectiveness seem compromised in important respects.
The main problem, echoing the general concerns voiced against the European bail-in regime, is that the specifications for minimum requirements for own funds and eligible liabilities (MREL) are also highly detailed and discretionary and thus alleviate the predicament of investors in bail-in debt, at best, only insufficiently. Quite importantly, given the character of typical MREL instruments as non-runnable long-term debt, even if investors are able to gauge the relevant risk of PSI in a bank’s failure correctly at the time of purchase, subsequent adjustment of MREL-prescriptions by competent or resolution authorities potentially change the risk profile of the pertinent instruments. Therefore, original pricing decisions may prove inadequate and so may market discipline that follows from them.
The pending European legislation aims at an implementation of the already complex specifications of the Financial Stability Board (FSB) for Total Loss Absorbing Capacity (TLAC) by very detailed and case specific amendments to both the regulatory capital and the resolution regime with an exorbitant emphasis on proportionality and technical fine-tuning. What gets lost in this approach, however, is the key policy objective of enhanced market discipline through predictable PSI: it is hardly conceivable that the pricing of MREL-instruments reflects an accurate risk-assessment of investors because of the many discretionary choices a multitude of agencies are supposed to make and revisit in the administration of the new regime. To prove this conclusion, this chapter looks in more detail at the regulatory objectives of the BRRD’s prescriptions for MREL and their implementation in the prospectively amended European supervisory and resolution framework.
Why does the schooling gap close while the wage gap persists across country income comparisons?
(2023)
The schooling gap diminishes because the services sector becomes more pronounced for high-income countries, and the paid hours gap closes. Although gender wage inequality persists across country income groups, differences in schooling years between females and males diminish. We assemble a novel dataset, calibrate a general equilibrium, multi-sector, -gender, and -production technology model, and show that gender-specific sectoral comparative advantages explain the paid hours and schooling gap decline from low- to high-income economies even when the wage gap persists. Additionally, our counterfactual analyses indicate that consumption subsistence and production share heterogeneity across both income groups and genders are essential to explain the co-decline of the schooling and paid hours gaps. Our results highlight effective mechanisms for policies aiming to reduce gender inequality in schooling and suggest that the schooling gap decline and the de-invisibilization of female paid work observed in high-income countries are linked by structural sector movements instead of wage inequality reductions.
Identifying the cause of discrimination is crucial to design effective policies and to understand discrimination dynamics. Building on traditional models, this paper introduces a new explanation for discrimination: discrimination based on motivated reasoning. By systematically acquiring and processing information, individuals form motivated beliefs and consequentially discriminate based on these beliefs. Through a series of experiments, I show the existence of discrimination based on motivated reasoning and demonstrate important differences to statistical discrimination and taste-based discrimination. Finally, I demonstrate how this form of discrimination can be alleviated by limiting individuals’ scope to interpret information.