Center for Financial Studies (CFS)
Refine
Year of publication
Document Type
- Working Paper (1485)
- Report (77)
- Part of Periodical (58)
- Article (18)
- Conference Proceeding (3)
- Periodical (3)
- Book (1)
- Doctoral Thesis (1)
Is part of the Bibliography
- no (1646)
Keywords
- Deutschland (54)
- Geldpolitik (54)
- USA (45)
- monetary policy (41)
- Europäische Union (30)
- Monetary Policy (27)
- Schätzung (24)
- Währungsunion (22)
- Bank (21)
- Venture Capital (21)
- Inflation (20)
- Risikokapital (20)
- Liquidity (19)
- Banking Union (17)
- Haushalt (17)
- household finance (17)
- Corporate Governance (16)
- ECB (14)
- ESG (14)
- Financial Crisis (14)
- Going Public (14)
- Household Finance (14)
- Kreditmarkt (14)
- corporate governance (14)
- regulation (14)
- systemic risk (14)
- Aktienmarkt (13)
- Kreditrisiko (13)
- asset pricing (13)
- COVID-19 (12)
- European Central Bank (12)
- Volatilität (12)
- liquidity (12)
- Regulation (11)
- bail-in (11)
- fiscal policy (11)
- insurance (11)
- Consumption (10)
- financial literacy (10)
- oil price (10)
- Asset Pricing (9)
- Contagion (9)
- Covid-19 (9)
- EMU (9)
- GARCH-Prozess (9)
- Inflation Targeting (9)
- Market Microstructure (9)
- Prognose (9)
- Regulierung (9)
- Sparen (9)
- banking (9)
- competition (9)
- financial crisis (9)
- financial stability (9)
- inflation (9)
- Competition (8)
- Disclosure (8)
- Europäische Zentralbank (8)
- Financial Literacy (8)
- Fiscal Policy (8)
- Germany (8)
- Insurance (8)
- Kapitalertrag (8)
- Neuer Markt (8)
- Quantitative Easing (8)
- Solvency II (8)
- Stockholding (8)
- Transparency (8)
- Value at Risk (8)
- Wettbewerb (8)
- contagion (8)
- portfolio choice (8)
- regulatory arbitrage (8)
- welfare (8)
- Bankenaufsicht (7)
- Banks (7)
- Börsenkurs (7)
- Börsenzulassung (7)
- Finanzkrise (7)
- GARCH (7)
- General Equilibrium (7)
- Großbritannien (7)
- Precautionary Saving (7)
- Sustainable Finance (7)
- Systemic Risk (7)
- Wechselkurs (7)
- Wertpapieremission (7)
- bank resolution (7)
- banks (7)
- capital regulation (7)
- euro area (7)
- finance (7)
- forward guidance (7)
- interest rates (7)
- leverage (7)
- real-time data (7)
- shadow banking (7)
- Bankenunion (6)
- Banking (6)
- Banking Regulation (6)
- DSGE (6)
- Deflation (6)
- Emerging Market (6)
- Euro Area (6)
- Europäische Währungsunion (6)
- Financial Stability (6)
- Household finance (6)
- Kapitalgewinn (6)
- Kapitalmarkt (6)
- Klein- und Mittelbetrieb (6)
- Kredit (6)
- Kreditwesen (6)
- Learning (6)
- Machine Learning (6)
- Portfolio Choice (6)
- Portfolio Selection (6)
- Portfoliomanagement (6)
- Preisbildung (6)
- Private Equity (6)
- Schwellenländer (6)
- Sustainability (6)
- Uncertainty (6)
- Underpricing (6)
- Wirtschafts- und Währungsunion (6)
- ambiguity (6)
- banking regulation (6)
- climate change (6)
- consumption (6)
- financial regulation (6)
- market discipline (6)
- model uncertainty (6)
- monetary policy rules (6)
- relationship lending (6)
- social security (6)
- venture capital (6)
- volatility (6)
- wealth inequality (6)
- Bankkredit (5)
- Basel III (5)
- Bayesian inference (5)
- Buffer Stock Saving (5)
- Business Cycle (5)
- Business Cycles (5)
- Capital Markets Union (5)
- Climate Change (5)
- Derivat, Wertpapier (5)
- EDIS (5)
- EZB (5)
- Einkommen (5)
- Event Study (5)
- Federal Reserve (5)
- Financial Regulation (5)
- Green Finance (5)
- High-Frequency Trading (5)
- Investmentfonds (5)
- Japan (5)
- Kapitalanlage (5)
- Liquidität (5)
- MREL (5)
- Market Efficiency (5)
- Mergers and Acquisitions (5)
- Mitgliedsstaaten (5)
- Model Uncertainty (5)
- Neuer Markt <Börse> (5)
- New Economy (5)
- Progressive Taxation (5)
- Risikomanagement (5)
- Ruhestand (5)
- Wirtschaftswachstum (5)
- Zinsfuß (5)
- annuity (5)
- asymmetric information (5)
- bank lending (5)
- banking union (5)
- credit risk (5)
- credit risk management (5)
- expectations (5)
- habit formation (5)
- human capital (5)
- law and finance (5)
- liquidity risk (5)
- liquidity trap (5)
- peer effects (5)
- pension (5)
- political economy (5)
- private equity (5)
- prudential supervision (5)
- public debt (5)
- risk-taking (5)
- saving (5)
- social interactions (5)
- sovereign risk (5)
- stockholding (5)
- term structure (5)
- transparency (5)
- uncertainty (5)
- zero lower bound (5)
- Öffentliche Ausgaben (5)
- 401(k) plan (4)
- Arbeitslosigkeit (4)
- Artificial Intelligence (4)
- Asset Allocation (4)
- Asymmetrische Information (4)
- BRRD (4)
- Bail-in (4)
- Bank Resolution (4)
- Bayesian Estimation (4)
- Brexit (4)
- Bundesbank (4)
- Central Banking (4)
- China (4)
- Corporate Social Responsibility (4)
- Credit Ratings (4)
- Credit Risk (4)
- DSGE models (4)
- Darlehen (4)
- Disposition Effect (4)
- Entrepreneurship (4)
- Equity Premium (4)
- Erwartung (4)
- European Monetary Union (4)
- Financial Crises (4)
- Financial Institutions (4)
- Financial Markets (4)
- Financial crisis (4)
- Financial stability (4)
- Finanzplanung (4)
- Finanzwirtschaft (4)
- Fiskalpolitik (4)
- Fragmentation (4)
- Homeownership (4)
- Household Portfolios (4)
- IPO (4)
- Incomplete Markets (4)
- Inequality (4)
- Initial Public Offerings (4)
- Innovation (4)
- Integration (4)
- Investor Sentiment (4)
- Italien (4)
- Kanada (4)
- Kapitalmarkteffizienz (4)
- Konjunktur (4)
- Kreditsicherung (4)
- Kreditwürdigkeit (4)
- MiFID II (4)
- Monetary Union (4)
- Moral Hazard (4)
- Numerical accuracy (4)
- OTC markets (4)
- Portfolio choice (4)
- Prediction (4)
- Price Discovery (4)
- Price Efficiency (4)
- Privater Verbrauch (4)
- Rating (4)
- Restrukturierung (4)
- Risikoverteilung (4)
- Risk (4)
- Solution methods (4)
- Sovereign Risk (4)
- Sustainable Investments (4)
- Unconventional Monetary Policy (4)
- Unemployment (4)
- Unternehmenskooperation (4)
- Unternehmenssanierung (4)
- Value-at-Risk (4)
- Verbraucherpreis (4)
- Vertrag (4)
- Volatility (4)
- Wirecard (4)
- Wirtschaftspolitik (4)
- Xetra-Handelssystem (4)
- Zinsstruktur (4)
- Zinsstrukturtheorie (4)
- bailout (4)
- bank regulation (4)
- banking supervision (4)
- capital requirements (4)
- capital structure (4)
- collateral (4)
- debt sustainability (4)
- euro (4)
- exchange rates (4)
- financial intermediation (4)
- forecasting (4)
- globalization (4)
- goods market integration (4)
- growth (4)
- household debt (4)
- idiosyncratic risk (4)
- incomplete markets (4)
- inequality (4)
- inflation targeting (4)
- investment (4)
- investment decisions (4)
- law of one price (4)
- learning (4)
- leveraged buyouts (4)
- machine learning (4)
- makroprudenzielle Regulierung (4)
- model comparison (4)
- money (4)
- money creation (4)
- moral hazard (4)
- nominal rigidities (4)
- non-bank financial intermediation (4)
- policy rules (4)
- portfolio allocation (4)
- predictability (4)
- price discovery (4)
- price stability (4)
- purchasing power parity (4)
- rational expectations (4)
- realized volatility (4)
- relative price volatility (4)
- risk premium (4)
- structural reforms (4)
- systemisches Risiko (4)
- unemployment (4)
- Abnehmer (3)
- Adverse Selection (3)
- Aging (3)
- Aktienanlage (3)
- Aktienbörse (3)
- Algorithmic Trading (3)
- Altersversorgung (3)
- Arbeitsmarkt (3)
- Arbeitsproduktivität (3)
- Asset pricing (3)
- Asset-Backed Security (3)
- Aufsichtsratsvergütung (3)
- Auslandskredit (3)
- Bank regulation (3)
- Basler Eigenkapitalvereinbarung , 2001 (3)
- Bayesian estimation (3)
- Beschaffungsmarketing (3)
- Beziehungsmanagement (3)
- Blockchain (3)
- Börsenhändler (3)
- CDS (3)
- Capital-Asset-Pricing-Modell (3)
- Central Bank Communication (3)
- Climate change (3)
- Cointegration (3)
- Consumer Credit (3)
- Corporate Bonds (3)
- Credit Cards (3)
- Credit Spread (3)
- Debt-equity swap (3)
- Debt-nature swap (3)
- Deutsche Börse (3)
- Deutscher Corporate Governance Kodex (3)
- ESM (3)
- ETFs (3)
- Economic and Monetary Union (3)
- European integration (3)
- Eurosystem (3)
- Expectation Formation (3)
- Expectations (3)
- FOMC (3)
- Fair value accounting (3)
- Fair-Value-Bewertung (3)
- FinTech (3)
- Financial Education (3)
- Financial Knowledge (3)
- Finanzierungstheorie (3)
- Finanzstabilität (3)
- Fiscal Multiplier (3)
- Fiscal Stimulus (3)
- G-7-Staaten (3)
- Geduld (3)
- Generally Accepted Accounting Principles (3)
- Gewinn (3)
- Gleichgewicht (3)
- Gläubiger (3)
- Governance (3)
- Government Spending (3)
- Granger Causality (3)
- Greece (3)
- Green bonds (3)
- Greenium (3)
- Growth (3)
- Heterogeneous Agents (3)
- High-Frequency Data (3)
- IFRS 9 (3)
- Inside Debt (3)
- Interconnectedness (3)
- Kalman filter (3)
- Kenntnis (3)
- Kleingewerbe (3)
- Konjunkturzyklus (3)
- Konsumentenkredit (3)
- Kreditkarte (3)
- Kreditsicherheit (3)
- Krisenmanagement (3)
- Labor Market (3)
- Labor income risk (3)
- Law and Finance (3)
- Lieferung (3)
- Limited Commitment (3)
- Limited Partnership (3)
- Liquidity Provision (3)
- Liquidity Risk (3)
- Länderrating (3)
- Länderrisiko (3)
- Machine learning (3)
- Market Fragmentation (3)
- Market Structure (3)
- Monetary Policy Rules (3)
- Neokeynesianismus (3)
- Neural Networks (3)
- New Keynesian Model (3)
- Nominalzins (3)
- OECD (3)
- Optimal Monetary Policy (3)
- Pensions (3)
- Performance (3)
- Portfolio allocation (3)
- Preispolitik (3)
- Preisstarrheit (3)
- Prüfungsausschuss (3)
- R&D (3)
- Recursive Preferences (3)
- Reform (3)
- Rentenmarkt (3)
- Retail investors (3)
- Retirement (3)
- Return Predictability (3)
- Risiko (3)
- Risk Aversion (3)
- Risk Management (3)
- Risk Sharing (3)
- Robustness (3)
- Saving (3)
- Schock <Wirtschaft> (3)
- Schulden (3)
- Schuldverschreibung (3)
- Single Supervisory Mechanism (3)
- Social Security (3)
- Sovereign Debt (3)
- Sovereign debt (3)
- Staatsanleihe (3)
- Standardisierung (3)
- Sticky Prices (3)
- Systemic risk (3)
- TLAC (3)
- Textual Analysis (3)
- Trading (3)
- Transmissionsmechanismus (3)
- Transparenz (3)
- Trust (3)
- Umschuldung (3)
- Universalbank (3)
- Unternehmen (3)
- Unternehmenszusammenschluss (3)
- VAR (3)
- Venture capital (3)
- Verbrauch (3)
- Verbraucherpreisindex (3)
- Versicherungsmarkt (3)
- Vertrauen (3)
- Wage Rigidity (3)
- Wertpapiermarkt (3)
- Wohlfahrtseffekt (3)
- Wohlstand (3)
- Währungskrise (3)
- Zentralbanken (3)
- Zerobond (3)
- Zertifizierung (3)
- Zinsertragskurve (3)
- active shareholders (3)
- aggregate risk (3)
- asset purchases (3)
- bank runs (3)
- banking separation proposals (3)
- beliefs (3)
- bid-ask spread (3)
- big data (3)
- blockchain (3)
- border effects (3)
- business cycle (3)
- capital markets (3)
- central bank independence (3)
- commitment (3)
- confidence (3)
- consumption-portfolio choice (3)
- cooperation (3)
- corporate finance (3)
- corporate rating (3)
- credit constraints (3)
- crowding out (3)
- crude oil (3)
- currency crisis (3)
- discretion (3)
- discrimination (3)
- distress (3)
- downside risk (3)
- entrepreneurship (3)
- equity premium (3)
- financial distress (3)
- financial frictions (3)
- financial innovation (3)
- fintech (3)
- fiscal reaction function (3)
- gasoline price (3)
- hedging (3)
- housebanks (3)
- housing (3)
- implied volatility (3)
- incentives (3)
- insider trading (3)
- investor protection (3)
- jumps (3)
- laboratory experiments (3)
- limited attention (3)
- limits to arbitrage (3)
- loan contract design (3)
- longevity risk (3)
- monetary transmission mechanism (3)
- money market funds (3)
- monitoring (3)
- mortgages (3)
- networks (3)
- panel VAR (3)
- pension reform (3)
- persistence (3)
- proprietary trading (3)
- public policy (3)
- quantitative easing (3)
- recursive utility (3)
- regime-switching (3)
- retirement (3)
- retirement age (3)
- retirement income (3)
- risk aversion (3)
- risk taking (3)
- social preferences (3)
- spatial data (3)
- sticky prices (3)
- stochastic differential utility (3)
- stochastic volatility (3)
- sustainability (3)
- sustainable finance (3)
- systematic risk (3)
- taxes (3)
- trading behavior (3)
- unconventional monetary policy (3)
- wealth (3)
- workouts (3)
- yield curve (3)
- zero interest rate bound (3)
- Öffentliche Ordnung (3)
- ABS (2)
- AI borrower classification (2)
- AI enabled credit scoring (2)
- ARCH-Prozess (2)
- Abnormal Returns (2)
- Accounting for Banks (2)
- Active investors (2)
- Adaptive Erwartung (2)
- Adverse Selection Risk (2)
- Aggregate outcomes (2)
- Aktienkurs (2)
- Aktionär (2)
- Alternative investments (2)
- Anchoring (2)
- Anlegerschutz (2)
- Anleihe (2)
- Annual General Meeting (2)
- Anreiz (2)
- Antitrust (2)
- Arbitrage (2)
- Asset Prices (2)
- Asset Quality Review (2)
- Asset Securitisation (2)
- Asymmetric Information (2)
- Auditing (2)
- Auftragsabwicklung (2)
- Bank Capitalization (2)
- Bank Lending (2)
- Bank Simulation (2)
- Bankbilanz (2)
- Bankenabwicklung (2)
- Bankensektor (2)
- Banking Stability (2)
- Banking crisis (2)
- Bankruptcy (2)
- Bargaining (2)
- Basle 2 (2)
- Basle Committee (2)
- Basler Eigenkapitalvereinbarung <1988> (2)
- Basler Eigenkapitalvereinbarung, 2001 (2)
- Basler Eigenkapitalvereinbarung, 2010 (2)
- Bayes-Entscheidungstheorie (2)
- Bayesian learning (2)
- Beliefs (2)
- Big Data (2)
- Biodiversity (2)
- Bitcoin (2)
- Board of Directors (2)
- Bond Markets (2)
- Brent (2)
- Bundesanleihe (2)
- Business Sentiment (2)
- Business lending (2)
- Börse (2)
- Börsenmakler (2)
- CAPM (2)
- CBDC (2)
- CLO (2)
- CMDI (2)
- Call-Option (2)
- Capital Markets (2)
- Car Loans (2)
- Central Counterparties (2)
- Choquet expected utility (2)
- Circuit Breaker (2)
- Coco bonds (2)
- Cognition (2)
- Collateral (2)
- Collateral Constraint (2)
- Collateral Policy (2)
- Commerzbank (2)
- Commodities (2)
- Compensation (2)
- Compensation Structure (2)
- Complexity (2)
- Conditional Volatility (2)
- Consumer Finance (2)
- Consumer Welfare (2)
- Consumption Dynamics (2)
- Contract Design (2)
- Core Inflation (2)
- Coronavirus (2)
- Corporate Debt Structure (2)
- Counterparty Risk (2)
- Covid pandemic (2)
- Credit (2)
- Credit Rating Agencies (2)
- Crowding-out (2)
- Cumulative prospect theory (2)
- Current Account (2)
- DCC-GARCH (2)
- DSGE Model (2)
- Dark Trading (2)
- Deductible Insurance (2)
- Default (2)
- Delegated portfolio management (2)
- Density Forecasting (2)
- Deposit Insurance (2)
- Desinvestition (2)
- Deutsche Bank (2)
- Digitalisierung (2)
- Disaggregated Prices (2)
- Disinflation (2)
- Distress (2)
- Dodd-Frank Act (2)
- Downside Risk (2)
- Drei-Säulen-System (2)
- Dynamic Duration Models (2)
- Dynamisches Gleichgewicht (2)
- ECB Monetary Policy (2)
- EMIR (2)
- ESG Rating Agencies (2)
- EU economic and financial services legislation (2)
- Economic Governance (2)
- Effektenbank (2)
- Eigenkapitalgrundsätze (2)
- Einkommensteuer (2)
- Electronic Commerce (2)
- Eligibility premium (2)
- Emissionsgeschäft (2)
- Emissionskurs (2)
- Empirical Asset Pricing (2)
- Endogenous Growth (2)
- Endogenous growth (2)
- Enforcement (2)
- Entrepreneurial Finance (2)
- Entry and exit (2)
- Entscheidung bei Unsicherheit (2)
- Entwicklungsländer (2)
- Environmental (2)
- Environmental policy (2)
- Equity Crowdfunding (2)
- Euro (2)
- Euro area (2)
- Euromarkt (2)
- Europarecht (2)
- European Banking Union (2)
- European Commission (2)
- European Supervisory Architecture (2)
- Eurozone (2)
- Excess Zeros (2)
- Exchange Rates (2)
- Executive Compensation (2)
- Exotic options (2)
- Expected Returns (2)
- Expected credit losses (2)
- Experiment (2)
- Externalities (2)
- FBSDE (2)
- Fair Value Accounting (2)
- FinTechs (2)
- Finance (2)
- Financial Advice (2)
- Financial Distress (2)
- Financial Education Programs (2)
- Financial Expert (2)
- Financial Instruments (2)
- Financial Reporting (2)
- Financial literacy (2)
- Finanzierung (2)
- Finanzintermediäre (2)
- Finanztransaktionssteuer (2)
- Firmenkundengeschäft (2)
- Firmenwert (2)
- Fiscal Consolidation (2)
- Fiscal Union (2)
- Fiskalunion (2)
- Flotation Costs (2)
- Forbearance (2)
- Forecasting (2)
- Freibetrag (2)
- Fremdfinanzierung (2)
- Fund Flows (2)
- Funds (2)
- Fusion (2)
- G-SIB (2)
- G-SIFIs (2)
- Geldmarkt (2)
- Geldmenge (2)
- Geldmengensteuerung (2)
- General-to-specific Methodology (2)
- German banks (2)
- German financial system (2)
- German reunification (2)
- Geschichte 1997-2000 (2)
- Geschichte 2002 (2)
- Geschichte 2007-2010 (2)
- Glaubwürdigkeit (2)
- Globalization (2)
- Government Debt (2)
- Great Recession (2)
- Greek economic crisis (2)
- Green Bonds (2)
- Greenwashing (2)
- Griechenland (2)
- Grunderwerbsteuer (2)
- Handel (2)
- Hausbank (2)
- Hawkes processes (2)
- Health (2)
- Health shocks (2)
- Hedge Accounting (2)
- Hedging (2)
- Herd Behavior (2)
- Heterogeneous innovation (2)
- Hidden Liquidity (2)
- High Frequency Data (2)
- High Frequency Trading (2)
- High-Frequency Traders (HFTs) (2)
- High-frequency Data (2)
- Hold-up (2)
- Home ownership (2)
- Homestead exemptions (2)
- House prices (2)
- Household-Size Economies (2)
- Housing (2)
- Housing Wealth (2)
- Human Capital (2)
- IAS (2)
- Iceberg Orders (2)
- Idiosyncratic Risk (2)
- Income and Wealth Inequality (2)
- Incomplete markets (2)
- India (2)
- Inflation Convergence (2)
- Inflationsrate (2)
- Informationsökonomie (2)
- Infrastructure (2)
- Insider Trading (2)
- Institutioneller Anleger (2)
- Insurance Companies (2)
- Interest Rate Guarantees (2)
- Intermediary (2)
- International Accounting Standard 39 (2)
- International Finance (2)
- Internationale Kapitalbewegung (2)
- Internationaler Konjunkturzusammenhang (2)
- Internationaler Kreditmarkt (2)
- Investmentsparen (2)
- Investor Protection (2)
- Investor behavior (2)
- Investor protection (2)
- Ireland (2)
- Jumps (2)
- Kapitalmobilität (2)
- Kassamarkt (2)
- Keynessche Theorie (2)
- Kointegration (2)
- Kongress (2)
- Konsol (2)
- Kosten (2)
- Kreditgeschäft (2)
- Kreditgewährung (2)
- Kreditpolitik (2)
- Kurtosis (2)
- Latency (2)
- Lebenshaltungskosten (2)
- Lebensversicherungen (2)
- Leistungsbilanz (2)
- Lender of Last Resort (2)
- Lending (2)
- Life Insurance (2)
- Life-Cycle Model (2)
- Liikanen-Kommission (2)
- Limit Order Book (2)
- Limit Order Market (2)
- Limit Order Markets (2)
- Limited Enforcement (2)
- Linear Aggregation (2)
- Liquidity Coinsurance (2)
- Liquidity Constraints (2)
- Liquidity Trap (2)
- Liquiditätspräferenztheorie (2)
- Loan Securitisation (2)
- Loan loss accounting (2)
- Loans (2)
- Lock-up (2)
- Long-Run Performance (2)
- Long-run Risk (2)
- Lottery stocks (2)
- Low-income Countries (2)
- Macroeconomic Announcements (2)
- Macroeconomic Modelling (2)
- Makroökonomie (2)
- Makroökonomisches Modell (2)
- Mark-to-Market (2)
- Mark-to-market (2)
- Market Design (2)
- Market Quality (2)
- Marketplace lending (2)
- Marktanteil (2)
- Markteffizienz (2)
- Marktrisiko (2)
- Merger (2)
- Messung (2)
- MiFIR (2)
- Microstructure (2)
- Minimax (2)
- Monetary policy (2)
- Monetary policy rules (2)
- Monetary policy transmission (2)
- Money (2)
- Mortgages (2)
- Multiplicative Error Model (2)
- Multivariate GARCH (2)
- Multivariate Probit (2)
- Nachhaltigkeit (2)
- Networks (2)
- New Keynesian (2)
- New Keynesian macro-epidemic models (2)
- New-Keynesian Model (2)
- Nominal GDP Growth (2)
- Non-performing Loans (2)
- Notenbank (2)
- OMT (2)
- Open Banking Platform Germany (2)
- Optimal Taxation (2)
- Optimal policy (2)
- Optimism (2)
- Optionsgeschäft (2)
- Optionshandel (2)
- Optionsmarkt (2)
- Optionspreistheorie (2)
- Output Gap (2)
- Over-Allotment Option (2)
- Ownership Structure (2)
- P2P lending (2)
- PCAOB (2)
- Parameter Elicitation (2)
- Patents (2)
- Permanent Income Hypothesis (2)
- Personal bankruptcy (2)
- Phillips Curve (2)
- Phillips-Kurve (2)
- Policy Rules (2)
- Policy Under Uncertainty (2)
- Political Union (2)
- Politische Union (2)
- Portfolio Optimization (2)
- Portugal (2)
- Predictive Likelihood (2)
- Preisindex der Lebenshaltung (2)
- Preisstabilität (2)
- Price Impact of Trades (2)
- Principal Agent (2)
- Private equity (2)
- Procyclicality (2)
- Product Market Competition (2)
- Product Market Deregulation (2)
- Productivity (2)
- Prognoseverfahren (2)
- Prospect Theory (2)
- Prudential oversight (2)
- Put-Option (2)
- Quantitative easing (2)
- Quantity Theory (2)
- Ratingagenturen (2)
- Rational Expectations (2)
- Real Effects (2)
- Real effects (2)
- Real-time Data (2)
- Realer-Konjunkturzyklus-Theorie (2)
- Reallocation (2)
- Reformvorschläge (2)
- Regelbindung (2)
- Regional Diversity (2)
- Rentenreform (2)
- Reputation (2)
- Resolution (2)
- Retail Investor (2)
- Retirement Planning (2)
- Rezession (2)
- Risikoprämie (2)
- Risk Premium (2)
- Risk Transfer (2)
- Risk-Taking (2)
- SFDR (2)
- SRM (2)
- SWIFT (2)
- Sanctions (2)
- Schuldenbremse (2)
- Schuldenkrise (2)
- Schweiz (2)
- Scrum (2)
- Securitization (2)
- Selection (2)
- Self-control (2)
- Self-fulfilling Prophecy (2)
- Semiparametric Specification Test (2)
- Share Deals (2)
- Sicherheit (2)
- Sign Restrictions (2)
- Simulated Maximum Likelihood (2)
- Single Resolution Mechanism (2)
- Skewness (2)
- Social Insurance (2)
- Social Networks (2)
- Spanien (2)
- Speculation (2)
- Spread Decomposition Models (2)
- Staatsschuldenkrise (2)
- Standortfaktor (2)
- Steuergestaltung (2)
- Stochastic Volatility (2)
- Stochastic mortality risk (2)
- Stock Market (2)
- Stock Market Participation (2)
- Stone-Geary preferences (2)
- Stress Test (2)
- Structured Finance (2)
- Supply Chain (2)
- Survey Indicator (2)
- Survey Method (2)
- Sustainable Investing (2)
- Syndicated loans (2)
- Systematic Risk (2)
- Systemisches Risiko (2)
- TIPS (2)
- Tagesgeschäft (2)
- Tail Risk (2)
- Taxonomy (2)
- Taylor Rule (2)
- Taylor Rules (2)
- Taylor rule (2)
- Term Structure of Interest Rates (2)
- Termingeschäft (2)
- Theorie (2)
- Top Income Taxation (2)
- Trading Intensity (2)
- Transfer Learning (2)
- Transition risk (2)
- Twitter (2)
- US GAAP (2)
- Unbewegliche Sache (2)
- Underwriter Fee (2)
- Unternehmensgründung (2)
- VaR (2)
- Value-at-risk (2)
- Variance Decomposition (2)
- Vektor-autoregressives Modell (2)
- Verbraucher (2)
- Volatility Interruption (2)
- WTI (2)
- Wealth (2)
- Welfare (2)
- Welthandel (2)
- Wertpapierhandelssystem (2)
- Wertpapierportefeuille (2)
- Wettbewerbsfreiheit (2)
- Wettbewerbsfähigkeit (2)
- Wirtschaftskrise (2)
- Wohneigentum (2)
- Zeitreihenanalyse (2)
- Zentralbank (2)
- Zentraler Kontrahent (2)
- Zero Lower Bound (2)
- Zins (2)
- Zinsen (2)
- Zwangsanleihe (2)
- advertising (2)
- announcements (2)
- anomalies (2)
- art (2)
- art market (2)
- asset valuation (2)
- attention (2)
- auctions (2)
- austerity (2)
- bank capital (2)
- bank competition (2)
- bank deposits (2)
- bank risk (2)
- banking separation (2)
- behavioral finance (2)
- bond markets (2)
- borrowing constraints (2)
- bubbles (2)
- business equity (2)
- capital (2)
- central bank (2)
- central bank communication (2)
- central banking (2)
- central banks (2)
- compensation (2)
- compensation design (2)
- complexity (2)
- computer vision (2)
- consumer credit (2)
- consumption hump (2)
- continuation vote (2)
- contract design (2)
- coordination (2)
- core (2)
- corn (2)
- corporate bond market (2)
- corporate restructuring (2)
- cost of capital (2)
- credibility (2)
- credit funds (2)
- credit scoring methodology (2)
- credit scoring regulation (2)
- credit supply (2)
- crises (2)
- crisis (2)
- crowdfunding (2)
- crowdinvesting (2)
- cryptocurrencies (2)
- cycle flows (2)
- cyclical liabilities (2)
- debt consolidation (2)
- debt maturity (2)
- debt restructuring (2)
- default (2)
- deflation (2)
- delayed claiming (2)
- delayed retirement (2)
- density forecasting (2)
- derivatives (2)
- disaster risk (2)
- discount (2)
- distress prediction (2)
- diversification (2)
- dynamic portfolio choice (2)
- early retirement (2)
- economic and monetary union (2)
- education (2)
- elasticity of intertemporal substitution (2)
- electricity (2)
- emergency liquidity assistance (ELA) (2)
- equity options (2)
- event study (2)
- exchange rate (2)
- executive compensation (2)
- exit strategies (2)
- expectation formation (2)
- experimental economics (2)
- experts (2)
- factor model (2)
- financial advice (2)
- financial institutions (2)
- financial markets (2)
- financial privacy (2)
- financial services (2)
- financial sophistication (2)
- financial system (2)
- financing decisions (2)
- financing policy (2)
- firm heterogeneity (2)
- forecast combination (2)
- futures (2)
- gasoline (2)
- general equilibrium (2)
- global banks (2)
- global real activity (2)
- government bonds (2)
- green finance (2)
- hedge funds (2)
- heterogeneous agents (2)
- high-frequency data (2)
- historical statistics (2)
- household portfolio (2)
- household portfolios (2)
- household survey (2)
- household-portfolio shares (2)
- identification (2)
- implied volatility skew (2)
- impulse response (2)
- individual investor (2)
- individual investors (2)
- inflation target (2)
- information aggregation (2)
- innovation (2)
- institutional investors (2)
- institutions (2)
- interbank network (2)
- interbank networks (2)
- international financial integration (2)
- investments (2)
- joint inference (2)
- labor supply (2)
- laboratory experiment (2)
- life cycle saving (2)
- lifetime income (2)
- limit order book (2)
- liquidity provision (2)
- loanable funds (2)
- long-run risk (2)
- long-term lending (2)
- longevity (2)
- loss function (2)
- macro-prudential supervision (2)
- macroeconomic modelling (2)
- macroeconomic models (2)
- macroprudential supervision (2)
- managerial incentives (2)
- manipulation (2)
- marginal propensity to consume (2)
- market efficiency (2)
- market supervision (2)
- monetary policy rule (2)
- monetary policy transmission (2)
- monetary transmission (2)
- money markets (2)
- mutual funds (2)
- nachrangiges Fremdkapital (2)
- natural experiment (2)
- natural gas (2)
- newly founded firms (2)
- news (2)
- nonlinear optimal policy (2)
- oil inventories (2)
- oil market (2)
- operational performance (2)
- optimal investment (2)
- option prices (2)
- pandemics (2)
- pass-through (2)
- payout policy (2)
- pensions (2)
- policy under uncertainty (2)
- politische Union (2)
- population aging (2)
- principal-agent models (2)
- principles-based regulation (2)
- private information (2)
- productivity (2)
- professional networks (2)
- prohibition of proprietary trading (2)
- property rights (2)
- quantity theory (2)
- real estate lending (2)
- real exchange rate (2)
- recapitalization (2)
- recession (2)
- recovery (2)
- redistribution (2)
- refugees (2)
- renegotiation (2)
- repurchases (2)
- responsible lending (2)
- return predictability (2)
- risk (2)
- risk management (2)
- risk premia (2)
- risk transfer (2)
- safe assets (2)
- screening (2)
- securities regulation (2)
- seigniorage (2)
- sentiment (2)
- shareholder activism (2)
- shareholder recovery (2)
- shipping (2)
- signaling (2)
- simulated method of moments (2)
- skewness (2)
- social dilemmas (2)
- social media (2)
- social norms (2)
- solution methods (2)
- sovereign debt crisis (2)
- sovereign exposures (2)
- speed bump (2)
- spillover effects (2)
- spot market power (2)
- stakeholders (2)
- statistical discrimination (2)
- stock market (2)
- stock market participation (2)
- stock returns (2)
- structural VAR (2)
- structured finance (2)
- subsistence consumption (2)
- supervisory arbitrage (2)
- supervisory board (2)
- surveillance (2)
- syndicated loans (2)
- systemic risk charge (2)
- tatonnement (2)
- taxation (2)
- too big to fail (2)
- too-big-to-fail (2)
- total loss absorbing capacity (TLAC) (2)
- tragedy of the commons (2)
- transfer strategies (2)
- transmission (2)
- two-asset portfolio (2)
- unconventional oil (2)
- wealth distribution (2)
- welfare loss (2)
- fiscal policy (2)
- Älterer Mensch (2)
- Österreich (2)
- "Event Study" (1)
- "magnet effect" (1)
- 2-Sector Model (1)
- ARCH-Modell (1)
- ARMA (1)
- Abgabe (1)
- Abhängigkeit (1)
- Absatzweg (1)
- Abwanderung-Widerspruch-Theorie (1)
- Abwicklung (1)
- Abwicklungsinstrumente (1)
- Academic faculties (1)
- Accounting (1)
- Accounting for Financial Instruments in the Banking Industry: Conclusions from a Simulation Model (1)
- Accounting regulation (1)
- Accounting research (1)
- Acquisitions (1)
- Activism (1)
- Activist Hedge Fund (1)
- Adaptation (1)
- Adverse Selection Costs (1)
- Affordability crisis (1)
- Age (1)
- Agency Theory (1)
- Agency costs (1)
- Aggregate Fluctuations (1)
- Agile Methods (1)
- Agile methods (1)
- Aktie (1)
- Aktienanalyse (1)
- Aktienbewertung (1)
- Aktienportefeuille (1)
- Algorithmic Discrimination (1)
- Algorithmic transparency (1)
- Allgemeines Gleichgewicht (1)
- Allgemeines Gleichgewichtsmodell (1)
- Allocation (1)
- Allocative Effciency (1)
- Alternative Investments (1)
- Altersstruktur (1)
- Amortization payments (1)
- Amtsperiode (1)
- AnaCredit (1)
- Angebot (1)
- Angel (1)
- Anlageentscheidung (1)
- Anlagepolitik (1)
- Anlageverhalten (1)
- Anleihemärkte (1)
- Annuity (1)
- Anonymity (1)
- Anreizsystem (1)
- Anteilseigner (1)
- Anticipated Inflation (1)
- Anticipatory Feeling (1)
- Apache Spark (1)
- Appraisal rights (1)
- Arbeitsloser (1)
- Arbeitsmarktflexibilisierung (1)
- Arbeitsmarkttheorie (1)
- Arm’s Length Debt (1)
- Art (1)
- Art Index (1)
- Art Market (1)
- Art investment (1)
- Art market (1)
- Art price index (1)
- Artificial Intelligence; (1)
- Asset Allocation, Contagion (1)
- Asset Liquidation (1)
- Asset Location (1)
- Asset Management Companies (1)
- Asset Market (1)
- Asset Price Bubbles (1)
- Asset Price Cycles (1)
- Asset Purchase Programme (1)
- Asset Return (1)
- Asset Side Market Discipline (1)
- Asset allocation (1)
- Asset prices (1)
- Asymmetric Tax Regimes (1)
- Asymmetries (1)
- Asymmetry (1)
- Asynchronous Trading (1)
- Auction (1)
- Auctions (1)
- Audit fees (1)
- Audit partner tenure (1)
- Audit quality (1)
- Auditor rotation (1)
- Ausbreitung (1)
- Ausgaben (1)
- Auslandsanleihe (1)
- Auslandsschulden (1)
- Austerity Measures (1)
- Automation (1)
- Autoregressiver Prozess (1)
- Außenhandel (1)
- Außenwirtschaft (1)
- Außenwirtschaftliches Gleichgewicht (1)
- Außerbilanzielles Geschäft (1)
- Außerbörslicher Wertpapierhandel (1)
- BCBS (1)
- BVerfG (1)
- BaFin (1)
- Backward error (1)
- Bafin (1)
- Bail-in Anleihen (1)
- Bailin (1)
- Bank Accounting (1)
- Bank Acquisition (1)
- Bank Bailout (1)
- Bank Capital (1)
- Bank Capital Structure (1)
- Bank Corporate Governance (1)
- Bank Credit (1)
- Bank Defaults (1)
- Bank Deregulation (1)
- Bank Incentives (1)
- Bank Lending Conditions (1)
- Bank Pool (1)
- Bank Recapitalization (1)
- Bank Recovery and Resolution Directive (BRRD) (1)
- Bank Regulation (1)
- Bank Supervision (1)
- Bank affiliation (1)
- Bank loan terms (1)
- Bank of Japan (1)
- Bank's Balance Sheets (1)
- Bankberatung (1)
- Banken (1)
- Bankenabgabe (1)
- Bankenhospital (1)
- Bankeninsolvenz (1)
- Bankenliquidität (1)
- Bankenwettbewerb (1)
- Banker's pay (1)
- Banking Competition (1)
- Banking Crisis (1)
- Banking Supervision (1)
- Banking union (1)
- Bankrecht (1)
- Bankrott (1)
- Bargaining Power (1)
- Basel II (1)
- Basel II Accord (1)
- Basel regulation (1)
- Basisdemokratie (1)
- Batch Learning (1)
- Bayes-Verfahren (1)
- Bayesian analysis (1)
- Bayesian time-varying parameter estimation (1)
- Befragungsanalyse (1)
- Behandlungskapazität (1)
- Behavioral Finance (1)
- Beitragsgarantien (1)
- Belief Formation (1)
- Belief up-dating (1)
- Bellman Equations (1)
- Beschränkung (1)
- Beschäftigungstheorie (1)
- Beschäftigungswirkung (1)
- Beta (1)
- Betafaktor (1)
- Beteiligungsfinanzierung (1)
- Betrieb (1)
- Betriebsgröße (1)
- Bevölkerungsentwicklung (1)
- Bewertungsreserven (1)
- Bewertungsreserven, (1)
- Bewertungsstetigkeit (1)
- Bezüge im Bankensektor (1)
- Bias (1)
- Bias in medical research (1)
- Bid-Ask Spread (1)
- Big Five (1)
- Big data (1)
- Bilanz (1)
- Bilanzierungsgrundsätze (1)
- Bilanzklarheitsgrundsatz (1)
- Bilanzkontinuität (1)
- Bilanzrecht (1)
- Bilateral Trade Flows (1)
- Biotech Firms (1)
- Blankoverkauf (1)
- Blocked Realized Kernel (1)
- Blocking (1)
- Board Appointments (1)
- Board Oversight (1)
- Bond Market (1)
- Bond Ratings (1)
- Bond Spreads (1)
- Bond risk premia (1)
- Boni (1)
- Boom (1)
- Bootstrap (1)
- Borrowing (1)
- Briefkastenfirmen (1)
- Broker (1)
- Brokerage (1)
- Bubbles (1)
- Buchführung (1)
- Buchführungsgrundsätze (1)
- Buffer Stock Model (1)
- Bunching (1)
- Business Subsidies (1)
- Business cycles (1)
- Bust (1)
- Börsenkrach (1)
- Börsenmaklerin (1)
- Börsenwettbewerb (1)
- C corporations (1)
- CBRT (1)
- CCP (1)
- CDS spreads (1)
- CECL (1)
- CEO Speeches (1)
- CMU (1)
- COVID-19 Pandemic (1)
- COVID-19 news (1)
- COVID-19 pandemic (1)
- CRA3 (1)
- CSPP (1)
- CSR (1)
- Call Market (1)
- Call options (1)
- Canada (1)
- Capacity utilization (1)
- Capital Purchase Program (1)
- Capital Taxation (1)
- Capital markets (1)
- Capital requirements (1)
- Capitulation (1)
- Carbon Taxation (1)
- Carbon abatement (1)
- Cash (1)
- Cash Flow Risk (1)
- Cash flow effect of monetary policy (1)
- Cashflow (1)
- Cat Bonds (1)
- Causal Machine Learning (1)
- Causal Reasoning (1)
- Causal inferences (1)
- Central Bank (1)
- Central Bank Losses (1)
- Central Bank of Cyprus (1)
- Central Banks (1)
- Central Banks and Their Policies (1)
- Central Clearing (1)
- Central Counterparty (1)
- Central Counterparty Clearing House (CCP) (1)
- Central bank liquidity (1)
- Centrality (1)
- Chancen- und Risikoberichterstattung (1)
- Chart-Analyse (1)
- Checkliste (1)
- Childhood (1)
- Chile (1)
- Cholesky decomposition (1)
- Citation Network Analysis (1)
- Classification (1)
- Clearing (1)
- Climate Behavior (1)
- Climate Policies (1)
- Climate change economics (1)
- Climate finance (1)
- Closed-end fund (1)
- Closed-end fund discount (1)
- Closed-end funds (1)
- Closing Price (1)
- Clustering (1)
- Co-residence (1)
- CoCo Bond (1)
- CoCo bonds (1)
- CoCos (1)
- Coalitions (1)
- Cognitive Abilities (1)
- Cohorts (1)
- Collateral constraints (1)
- Collateralized debt obligation (1)
- Collective Action Clause (1)
- College dropout risk (1)
- College premium (1)
- College wage premium (1)
- Colocation (1)
- Commercial banking (1)
- Commitment (1)
- Common Factor (1)
- Common Factor Model (1)
- Common Factor Models (1)
- Common Factor Weights (1)
- Communism (1)
- Comovements (1)
- Competition Policy (1)
- Competition in Order Flow (1)
- Complementarity (1)
- Complex Financial Instruments (1)
- Comprehensive Assessment (1)
- Concentration (1)
- Condition number (1)
- Conditional Pooling (1)
- Conditional intensity (1)
- Conditional response (1)
- Conditionality (1)
- Confirmatory Bias (1)
- Connectivity (1)
- Consumer confidence (1)
- Consumer credit (1)
- Consumer financial protection (1)
- Consumption Function (1)
- Consumption Inequality (1)
- Consumption Insurance (1)
- Consumption hump (1)
- Consumption-Saving (1)
- Consumption-investment Problems (1)
- Consumption-portfolio choice (1)
- Consumption/Saving Forecast (1)
- Contagion Risk (1)
- Container Trade (1)
- Contestability (1)
- Contingent Commissions (1)
- Contingent Convertible Bonds (1)
- Contingent Convertible Capital (1)
- Continuous-time methodsc (1)
- Contract (1)
- Contract terms (1)
- Contractarian Model of Corporate Law (1)
- Control transfers (1)
- Convertible Securities (1)
- Cooperation (1)
- Coordination (1)
- Coordination Risk (1)
- Copula (1)
- Corona-Steuerhilfegesetz (1)
- Corporate Announcements (1)
- Corporate Distress (1)
- Corporate Financing (1)
- Corporate Groups (1)
- Corporate Name Change (1)
- Corporate Philanthropy (1)
- Corporate Quantitative Easing (1)
- Corporate bonds (1)
- Corporate concentration (1)
- Corporate deposits (1)
- Corporate financing (1)
- Corporate governance (1)
- Corporate law (1)
- Corporate quantitative easing (1)
- Corporate social responsibility (1)
- Correlated Events (1)
- Costly Capital (1)
- Counterfactual Decompositions (1)
- Counterparty Credit Limits (1)
- Country Comparison (1)
- Country-Specific and Global Shocks (1)
- Covariance Estimation (1)
- Covariance Prediction (1)
- Covenants (1)
- Covid-19 Pandemic (1)
- Covid-19-Crisis (1)
- Creative destruction (1)
- Credibility of Inflation Targets (1)
- Credit Crunch (1)
- Credit Cycles (1)
- Credit Default Swap (CDS) (1)
- Credit Default Swaps (1)
- Credit Risk Transfer (1)
- Credit derivatives (1)
- Credit lines (1)
- Credit rating (1)
- Credit risk (1)
- Credit spreads (1)
- Credit union (1)
- Creditor Protection (1)
- Creditor Rights (1)
- Creditor Rights Protection (1)
- Crime (1)
- Crises Forecasting (1)
- Crisis Management (1)
- Crisis contracts (1)
- Cross-Predictability (1)
- Cross-Section of Returns (1)
- Crowding Out (1)
- Cryptocurrencies (1)
- Cultural Finance (1)
- Cultural Influences on Economic Behavior (1)
- Culture (1)
- Customer Flow (1)
- Customer Protection Rules (1)
- Customer data sharing (1)
- Cycle Portfolio Choice (1)
- Cyprus (1)
- D49 (1)
- DGE Models (1)
- DSGE Models (1)
- DSGE model (1)
- DSGE modelling (1)
- Dark Pools (1)
- Data access (1)
- Data portability (1)
- Database linking (1)
- Dealer Markets (1)
- Debit Cards (1)
- Debt (1)
- Debt Management (1)
- Debt Securities (1)
- Debt and equity financing (1)
- Decision (1)
- Default probability (1)
- Defizitregeln (1)
- Delaunay Interpolation (1)
- Delaware Incorporation (1)
- Demand Analysis (1)
- Democratic Legitimacy (1)
- Demographic Change (1)
- Demographischer Wandel (1)
- Demutualization (1)
- Depreciation (1)
- Depths (1)
- Derivat <Wertpapier> (1)
- Derivatehandel (1)
- Derivatives (1)
- Designated Market Makers (DMMs) Market Making (1)
- Determinacy (1)
- Deutsche Bundesbank (1)
- Deutscher Aktienindex (1)
- Deutsches Rentensystem (1)
- Devisen (1)
- Devisenbörse (1)
- Devisenmarkt (1)
- DiD (1)
- Dictionary (1)
- Dienstleistungsverkehr (1)
- Difference in Difference (1)
- Different Beliefs (1)
- Digital (1)
- Digital art (1)
- Digital footprints (1)
- Digitalized Markets (1)
- Directors' Dealings (1)
- Direktinvestition (1)
- Disappointment (1)
- Disasters (1)
- Disclosure Framework (1)
- Disclosure regulation (1)
- Discount Broker (1)
- Discount Rate Risk (1)
- Discount Rates (1)
- Discourse (1)
- Discretion (1)
- Discretionary Fiscal Policy (1)
- Disintegration (1)
- Diskontsatz (1)
- Distraction (1)
- Distributed Computing (1)
- Distributed Ledger (1)
- Distributed lag (1)
- Distribution (1)
- Distribution of Welfare (1)
- Divergence of Opinion (1)
- Diversification (1)
- Dividend Payments (1)
- Dividend Policy (1)
- Dividendenpolitik (1)
- Dividends (1)
- Double Auction (1)
- Double Volume Caps (1)
- Downside risk (1)
- Downward Nominal Rigidity (1)
- Drag-along rights (1)
- Dual Moral Hazard (1)
- Dual-class shares (1)
- Dunkelziffer (1)
- Durable consumption (1)
- Duration of Civil Proceedings (1)
- Dynamic Capabilities (1)
- Dynamic Factor Model (1)
- Dynamic Models (1)
- Dynamic Networks (1)
- Dynamic Optimization (1)
- Dynamic Representative Consumer (1)
- Dynamic Stochastic General Equilibrium Model (1)
- Dynamic and Reliable Regulation (1)
- Dynamic inconsistency (1)
- Dynamic stochastic general equilibrium model (1)
- Dynamisches Modell (1)
- E.U. Corporate Law (1)
- ECB policy surprise (1)
- ECJ (1)
- EDIC (1)
- EFSF (1)
- EGC (1)
- EIOPA (1)
- ELA (1)
- ESCB (1)
- ESG Investing (1)
- ESG lending (1)
- ESG loans (1)
- ESG ratings (1)
- EU (1)
- EU Bonds (1)
- EU Legal Order (1)
- EU banks (1)
- EU countries (1)
- EU crisis (1)
- EU industrial production (1)
- EU market regulation (1)
- EU-Staaten (1)
- EURONET-DIANE (1)
- Earnings Management (1)
- Econometrics (1)
- Economic Literacy (1)
- Economic Performance (1)
- Economic Recovery (1)
- Economic Reforms (1)
- Economic research (1)
- Economics (1)
- Education (1)
- Education Subsidy (1)
- Effective lower bound (1)
- Effektivinflation (1)
- Effektivverzinsung (1)
- Efficiency Wages (1)
- Efficient Frontier (1)
- Efficient Importance Sampling (1)
- Efficient Return (1)
- Eigenheim (1)
- Eigenkapital (1)
- Einkommensunterschied (1)
- Einlagengeschäft (1)
- Einlagensicherung (1)
- Einlageverträge (1)
- Elasticity (1)
- Electoral Pressure (1)
- Electronic Markets (1)
- Emerging Market Economies (1)
- Emerging Market Emerging Market (1)
- Emerging Markets (1)
- Emissions (1)
- Emotional tagging (1)
- Empirical Contract Theory (1)
- Empirical methods (1)
- Empirische Vertragsanalyse (1)
- Employee commitment (1)
- Employee rights (1)
- Endogeneity (1)
- Endogenous Asset Market Participation (1)
- Endogenous Beliefs (1)
- Endogenous Gridpoints (1)
- Endogenous gridpoints Method (1)
- Energiewende (1)
- Energy Efficiency (1)
- Energy Performance Certificate (1)
- Energy crisis (1)
- Energy efficiency (1)
- Enforcement Delegation (1)
- Enriched Digital Footprint (1)
- Entity matching (1)
- Entity resolution (1)
- Entrepreneurial Activity (1)
- Entrepreneurial finance (1)
- Entropy Measure (1)
- Entry (1)
- Entscheidung (1)
- Entscheidungsregel (1)
- Entscheidungstheorie (1)
- Environmental regulation (1)
- Epidemiologic model (1)
- Epidemiologisches Modell (1)
- Epstein-Zin preferences (1)
- Epstein-Zin-Weil recursive preferences (1)
- Equation of Exchange (1)
- Equilibrium Exchange Rates (1)
- Equilibrium Thinking (1)
- Equity Culture (1)
- Equity Markets (1)
- Equity Options (1)
- Equity Trading (1)
- Equity fund (1)
- Equity options (1)
- Equivalence Scales (1)
- Equivalent Incomes (1)
- Erbschaftsteuer (1)
- Erich Gutenberg (1)
- Ernennungspraxis von Zentralbankern (1)
- Erneuerbare-Energien-Gesetz (1)
- Erwachsener, 50-60 Jahre (1)
- Erwachsener, 50-65 Jahre (1)
- Erwartungsbildung (1)
- Estimation (1)
- Estimation efficiency (1)
- Ethereum (1)
- Ethics (1)
- Euro <Währung> (1)
- Euro Area Regional and Sectoral Inflation (1)
- Euro Area and US (1)
- Euro, Währung (1)
- Euro-zone Government Bonds (1)
- Eurobonds (1)
- Europe (1)
- European Banking Authority (1)
- European Banking Authority (EBA) (1)
- European Banking Authority, Single Supervisory Mechanism (1)
- European Capital Markets Union (1)
- European Central Bank (ECB) (1)
- European Central Bankor (1)
- European Insurance Union (1)
- European Insurance and Occupational Pensions Authority (1)
- European Integration (1)
- European Investment Bank (1)
- European Market Infrastructure Regulation (EMIR) (1)
- European Parliament (1)
- European Stability Mechanism (1)
- European Supervisory Authorities (1)
- European System of Central Banks (1)
- European Systemic Risk Board (1)
- European Union (1)
- European banks (1)
- European debt crisis (1)
- European household portfolios (1)
- European market fragmentation (1)
- European unemployment insurance (1)
- Europäische Währungsunion, Strukturanpassungen, Europäische Integration (1)
- Eurosystem collateral eligibility (1)
- Evidence-based policymaking (1)
- Excess sensitivity (1)
- Excessive risk taking (1)
- Exchange Rate Channel (1)
- Exchange Rate Mechanism (1)
- Exchange Rate Pass-Through (1)
- Exchange rate volatility (1)
- Exchange traded funds (1)
- Execution Cost (1)
- Execution Quality (1)
- Executive Remuneration (1)
- Exit Decisions (1)
- Exit Rights (1)
- Expectation Error (1)
- Expectation formation (1)
- Expectation–Maximisation (1)
- Expected Equity Returns (1)
- Expected shortfall (1)
- Expenditure Survey (1)
- Experience (1)
- Experiences (1)
- Experimental Asset Markets (1)
- Experimental Economics (1)
- Experimental Finance (1)
- Explainable machine learning (1)
- Explosive behavior (1)
- Exponential smoothing (1)
- Extracurricular Activities (1)
- Extrapolation (1)
- Extreme Price Movements (1)
- Extreme value theory (1)
- FDI-intensity (1)
- Factor Model (1)
- Factor Models (1)
- Factor Structure (1)
- Factor-Augmented Vector Autoregression Model (FAVAR) (1)
- Fair value (1)
- Fair-Value Accounting (1)
- Faktorenanalyse (1)
- FamaFrench model (1)
- Family Background (1)
- Family dynamics (1)
- Fat-tails (1)
- Fear of job loss (1)
- Federal Reserve Bank <New York, NY> (1)
- Feedback (1)
- Field Experiment (1)
- Filtering (1)
- Fin Tech (1)
- Finance and Employment (1)
- Financial Assistance (1)
- Financial Constraints (1)
- Financial Contagion (1)
- Financial Crisis 2007/08 (1)
- Financial Decisionmaking (1)
- Financial Development (1)
- Financial Frictions (1)
- Financial Industry (1)
- Financial Information (1)
- Financial Innovation (1)
- Financial Integration (1)
- Financial Market Cycles (1)
- Financial Market Integration (1)
- Financial Market Linkages (1)
- Financial Market Structure (1)
- Financial Markets and the Macroeconomy (1)
- Financial Media (1)
- Financial Networks (1)
- Financial Regulation and Banking (1)
- Financial Risk (1)
- Financial Sophistication (1)
- Financial Supervision (1)
- Financial and Economics Knowledge (1)
- Financial econometrics (1)
- Financial education (1)
- Financial frictions (1)
- Financial institutions (1)
- Financial interests (1)
- Financial intermediation (1)
- Financial market (1)
- Financial openness (1)
- Financing Conditions (1)
- Financing Constraints (1)
- Financing Costs (1)
- Financing Gap (1)
- Finanzanalyse (1)
- Finanzbildung (1)
- Finanzdienstleistung (1)
- Finanzfachkenntnis (1)
- Finanzinnovationen (1)
- Finanzlage (1)
- Finanzmarkt (1)
- Finanzmärkte und Finanzinstitute (1)
- Finanzplatz (1)
- Finanzplatzinstitutionen (1)
- Finanzpolitik (1)
- Finanzspekulation (1)
- Finanzstabilitätsgesetz (1)
- Finanzsystem (1)
- Finite Normal Mixtures (1)
- Finland (1)
- Finnland (1)
- Fintech (1)
- Firm Investment (1)
- Firm Prestige (1)
- Firm Value (1)
- Firm valuation (1)
- Firm-bank relationship (1)
- Firm-specific News (1)
- Firma (1)
- Firms (1)
- First Loss Position (1)
- Fiscal Compact (1)
- Fiscal Policies (1)
- Fiscal Solidarity (1)
- Fiscal Stabilization (1)
- Fiscal Stimulus Program (1)
- Fiscal Transparency (1)
- Fiscal policy (1)
- Fiscal stress (1)
- Fiscal theory of the price level (1)
- Fixed-Income (1)
- Flash Crash (1)
- Flat Taxes (1)
- Flight-to-safety (1)
- Fokker-Planck equation (1)
- Fonds (1)
- Forecast Comparison/ Competition (1)
- Forecast Distribution (1)
- Forecasting and Simulation (1)
- Forecasts (1)
- Foreign Assets (1)
- Foreign Exchange Reserves (1)
- Foreign holdings (1)
- Formalism (1)
- Formative experiences (1)
- Forschung (1)
- Forschung und Entwicklung (1)
- Forward Guidance (1)
- Forward error (1)
- Forward-looking models (1)
- Fracking (1)
- Framing Effect (1)
- Framing effects (1)
- Frankfurt am Main (1)
- Frankreich (1)
- Frau (1)
- Fraud (1)
- Free-Riding (1)
- Freiheit (1)
- Fremdkapital (1)
- Frequency Domain (1)
- Frictions (1)
- Friedman-Schwartz's evidence (1)
- Friktionelle Arbeitslosigkeit (1)
- Fund (1)
- Fund family (1)
- Fundamental Value (1)
- Fundamentalanalyse (1)
- Funds of Funds (1)
- Futures Market (1)
- Futures Markets (1)
- G21 (1)
- G24 (1)
- GARCH-Prozes (1)
- GDP growth (1)
- GFSY (1)
- GMM Estimation (1)
- Gains from Trade (1)
- Gains from trade (1)
- Gambling (1)
- Game Theory (1)
- Gamma distribution (1)
- Garantiezins (1)
- Gauß-Funktion (1)
- Gegenwartspreise (1)
- Geld (1)
- Geldangebot (1)
- Geldkurs (1)
- Geldmengenziel (1)
- Geldtheorie (1)
- Gemeinsamer Markt (1)
- Gender (1)
- Gender Differences (1)
- Gender Gap (1)
- Gender Issues (1)
- General Equilibrium Asset Pricing (1)
- Generaldirektor (1)
- Generalized Dynamic Factor Model (1)
- Generationenrente (1)
- Generations (1)
- Geopolitics (1)
- German Banking (1)
- German Corporate Governance System (1)
- German Markets Model Case Act (KapMuG) (1)
- German Reunification (1)
- German constitutional law (1)
- German cooperative banks (1)
- German corporate governance (1)
- German corporate governance codex (1)
- German natural gas market (1)
- German retirement system (1)
- German savings banks (1)
- Germany Inc. (1)
- Geschichte 1866-1879 (1)
- Geschichte 1920-1922 (1)
- Geschichte 1948-2008 (1)
- Geschichte 1965-1979 (1)
- Geschichte 1966-1998 (1)
- Geschichte 1968-1979 (1)
- Geschichte 1970-1989 (1)
- Geschichte 1970-2004 (1)
- Geschichte 1971-2003 (1)
- Geschichte 1978-1997 (1)
- Geschichte 1979-1980 (1)
- Geschichte 1979-1983 (1)
- Geschichte 1983-2004 (1)
- Geschichte 1984-1995 (1)
- Geschichte 1984-1999 (1)
- Geschichte 1984-2005 (1)
- Geschichte 1986-1998 (1)
- Geschichte 1989-2002 (1)
- Geschichte 1990-1999 (1)
- Geschichte 1992-1996 (1)
- Geschichte 1992-1997 (1)
- Geschichte 1993-2003 (1)
- Geschichte 1995 (1)
- Geschichte 1995-1997 (1)
- Geschichte 1995-1998 (1)
- Geschichte 1998 (1)
- Geschichte 1999-2001 (1)
- Geschichte 2000-2002 (1)
- Geschäftsführer (1)
- Geselligkeit (1)
- Gewerbebetrieb (1)
- Gewerbesteuer (1)
- Gig-economy (1)
- Gini (1)
- Gleichgewichtstheorie (1)
- Global Accounting Standards (1)
- Global Economy (1)
- Global Optimization (1)
- Global Temperature (1)
- Global Yield (1)
- Gläubigerschutz (1)
- Going-private Decisions (1)
- Gold Standard (1)
- Government (1)
- Government Deficit (1)
- Government Spending Multipliers (1)
- Government Spending Shocks (1)
- Government debt (1)
- Government spending multiplier (1)
- Graccident (1)
- Granger causality (1)
- Gravity equations (1)
- Great Inflation (1)
- Green Asset Ratio (1)
- Green Nudging (1)
- Green Quantitative Easing (1)
- Green finance (1)
- Grexit (1)
- Group Interesterest (1)
- Group Think (1)
- Grundschuld (1)
- Größe (1)
- Grüne Transformation (1)
- Gutenberg, Erich (1)
- Habit-formation (1)
- Haftungsbeschränkung (1)
- Hamilton filter (1)
- Hamiltonian Monte Carlo (1)
- Handelsgeschäft (1)
- Handelsvolumen (1)
- Haus (1)
- Haushal (1)
- Haushaltsdefizit (1)
- Haushaltskrisenbarometer (1)
- Haushaltspolitik (1)
- Hayek (1)
- Hazard estimation (1)
- Headline (1)
- Health Insurance (1)
- Health expenses (1)
- Health jumps (1)
- Hedge Funds (1)
- Hedge funds (1)
- Helicoptergeld (1)
- Herdenimmunität (1)
- Heterogeneit (1)
- Heterogeneous Beliefs (1)
- Heterogeneous Firms (1)
- Heterogeneous Preferences (1)
- Heterogeneous agents (1)
- Hidden Orders (1)
- Hierarchies (1)
- High-Frequency Trading (HFT) (1)
- High-Level-Forum (1)
- High-frequency event study (1)
- Higher Moments of Return (1)
- Hirshleifer Effect (1)
- Historical Cost (1)
- History & Finance (1)
- History-Dependent Policy (1)
- Hochfrequenzhandel (1)
- Hochzinspolitik (1)
- Home (1)
- Home Bias (1)
- Home Equity (1)
- Homophily (1)
- Hong test (1)
- Horizontal Integration (1)
- House Prices (1)
- House price dispersion (1)
- Household Consumption (1)
- Household Consumption Data (1)
- Household Debt (1)
- Household Inflation Expectations (1)
- Household Wealth (1)
- Household debt (1)
- Household saving (1)
- Housing Market Cycles (1)
- Housing tenure (1)
- Human capital (1)
- Hurricane Katrina (1)
- Hurrikan (1)
- Hybrid Markets (1)
- Hybrid Trading Systems (1)
- Hyperbolic Distribution (1)
- Hyperinflation (1)
- Hypothekarkredite (1)
- Hypothekengeschäft (1)
- Hysteresis (1)
- I(2) analysis (1)
- IASC New Structure (1)
- IFRS (1)
- IMF (1)
- IMF Program Participation (1)
- IT innovations (1)
- IV (1)
- IV approach (1)
- IV estimation (1)
- Identification (1)
- Idiosyncratic volatility puzzle (1)
- Illiquidity (1)
- Imbalances (1)
- Immaterieller Anlagewert (1)
- Immediacy (1)
- Immigration (1)
- Impact of Changing Stock-Market Regulation and Institution (1)
- Impairments (1)
- Imperfect Competition (1)
- Imperfect Knowledge (1)
- Implicit Insurance Contracts (1)
- Implied Probability Densities (1)
- Implied volatility (1)
- Import (1)
- Impulse Response Function (1)
- Impulse Responses (1)
- Impulse-response (1)
- Incentive (1)
- Incentives (1)
- Inclusive Finance (1)
- Income Inequality (1)
- Incomplete Insurance Contracts (1)
- Incubator (1)
- Incurred loss model (1)
- Indeterminacy (1)
- Index Funds (1)
- Index Model (1)
- Index Trigger (1)
- Index-Futures (1)
- Indexation (1)
- Individual Investors (1)
- Individual investors (1)
- Individuum (1)
- Industrie (1)
- Industriestaaten (1)
- Industry Classification (1)
- Industry Comparison (1)
- Inefficient Forecasts (1)
- Infektionsdynamik (1)
- Inflation Beliefs (1)
- Inflation Expectations (1)
- Inflation Forecasting (1)
- Inflation Inertia (1)
- Inflation Rate (1)
- Inflation convergence (1)
- Inflation targeting (1)
- Inflationsmessung (1)
- Informal Loans (1)
- Information (1)
- Information Acquisition (1)
- Information Frictions (1)
- Information Production (1)
- Information Share (1)
- Information Shares (1)
- Information Theory (1)
- Information Treatment (1)
- Information processing (1)
- Information value (1)
- Informational Volatility (1)
- Informationsaustausch (1)
- Informationsgehalt (1)
- Informationswert (1)
- Initial Public Offering (1)
- Initial Public Offering (IPO) (1)
- Insidergeschäft (1)
- Insiderregeln (1)
- Institution formation (1)
- Institution-building (1)
- Institutional Investor (1)
- Institutional Investors (1)
- Institutional Investors’ Ownership (1)
- Institutional Setting on Underpricing (1)
- Institutional investors (1)
- Insurance Activities (1)
- Insurance Brokers (1)
- Insurance Supervision (1)
- Integrated Assessment Model (1)
- Integrated Risk Management (1)
- Integrität (1)
- Intensity Models (1)
- Interbank Market (1)
- Interbank Markets (1)
- Interdealer Brokerage (1)
- Interest Rate (1)
- Interest Rate Forecasting (1)
- Interest Rate Risk (1)
- Intergenerational Risk Sharing (1)
- Interim Report (1)
- Intermediated work (1)
- Intermediation (1)
- Internal Controls (1)
- Internal borrower rating (1)
- Internalization (1)
- International Accounting Standards (1)
- International Capital Flows (1)
- International Cross-Listings (1)
- International Financial Futures Exchange (1)
- International Financial Futures and Options Exchange (1)
- International Financial Reporting Standards (1)
- International Stock Exchange of the United Kingdom and the Republic of Ireland (1)
- International Transmission Mechanism (1)
- International finance (1)
- International relationships (1)
- Internationale Bank (1)
- Internationale Wettbewerbsfähigkeit (1)
- Internationale Währungspolitik (1)
- Internationaler Terrorismus (1)
- Internationaler Vergleich (1)
- Internationaler Währungsfonds (1)
- Internationales Währungssystem (1)
- Internationalisierung (1)
- Internationalization (1)
- Internes Kontrollsystem (1)
- Intertemporal Choice (1)
- Intra-Day Volatility (1)
- Intraday Trading Process (1)
- Intratemporal Elasticity of Substitution (1)
- Inventory Risk (1)
- Investition (1)
- Investitionsentscheidung (1)
- Investment Banking (1)
- Investment Decisions (1)
- Investment Funds (1)
- Investment Styles (1)
- Investment attitudes (1)
- Investment funds (1)
- Investment-Specific Shocks (1)
- Investments (1)
- Investor (1)
- Investor education (1)
- Investor sentiment (1)
- Investors Heterogeneity (1)
- Job Match Quality (1)
- Justiz (1)
- Justizverwaltung (1)
- Kalman Filter (1)
- Kapitalismus (1)
- Kapitalkonzentration (1)
- Kapitalmarktunion (1)
- Kapitalrenditen (1)
- Katrina (1)
- Kaufentscheidung (1)
- Kaufkraft des Geldes (1)
- Kaufkraftparität (1)
- Kaufkraftvergleich (1)
- Kinderbonus (1)
- Klimawandel (1)
- Komplexität (1)
- Konditionenpolitik (1)
- Kongreß (1)
- Konjunkturpolitik (1)
- Konjunkturschwankung (1)
- Konsumgütermarkt (1)
- Kontrolle (1)
- Konzentration <Wirtschaft> (1)
- Korrelation (1)
- Kovarianzanalyse (1)
- Kreditderivat (1)
- Kreditgenossenschaft (1)
- Kreditgenossenschaftlicher Verbund (1)
- Kreditinstitute (1)
- Kreditmanagement (1)
- Kritik (1)
- Kryptowährungen (1)
- Kunstmarkt (1)
- Kursanomalie (1)
- Kursrisiko (1)
- Künstliche Intelligenz (KI) (1)
- LASSO (1)
- LBO spillovers (1)
- LBOs (1)
- LSTM neural networks (1)
- Labor Hoarding (1)
- Labor Income Risk (1)
- Labor Market Deregulation (1)
- Labor Market Frictions (1)
- Labor Markets (1)
- Labor Supply (1)
- Labor market competition (1)
- Labour supply (1)
- Lack of Planning (1)
- Laffer Curve (1)
- Lag (1)
- Lagrange-d'Alembert equation (1)
- Landesbank (1)
- Landeskreditbank Baden-Württemberg (1)
- Langzeitvertrag (1)
- Laplace Distribution (1)
- Laplace-Verteilung (1)
- Latent Variables (1)
- Law Enforcement (1)
- Law and economics (1)
- Law and finance (1)
- Lead-lag relationship (1)
- Leading indicator (1)
- Lebenskostenindex (1)
- Lebenszeitverlust (1)
- Legal Institutions (1)
- Legal framework (1)
- Leistungslohn (1)
- Leitungsentscheidungen (1)
- Lender of last resort (1)
- Lernen (1)
- Leverage (1)
- Leverage Effect (1)
- Leveraged buyouts (1)
- Libra (1)
- Lieferant (1)
- Life Events (1)
- Life Insurance Surrender (1)
- Life Insurers (1)
- Life course transitions (1)
- Life insurance companies (1)
- Life-cycle hypothesis (1)
- Liikanen Commission (1)
- Liikanen Report (1)
- Limit Order (1)
- Limit Order Book Market (1)
- Limit Order Book Slopes (1)
- Limit Order Books (1)
- Limited partnerships (1)
- Lintner dividend model (1)
- Liquidity Facilities (1)
- Liquidity Premium (1)
- Liquidity Shock (1)
- Liquidity Shocks (1)
- Liquidity premium (1)
- Liquidity provider incentives (1)
- Liquidity provision (1)
- Liquiditätseffekte der Zinspolitik (1)
- Listed Private Equity (1)
- Listing Requirements (1)
- Literacy (1)
- Living Wills (1)
- Livingston Survey (1)
- Loan Losses (1)
- Loan Pricing (1)
- Loan Repayment (1)
- Loan losses (1)
- Loan to income ratio (1)
- Loan to value ratio (1)
- Lobbying (1)
- Locus of control (1)
- Lohnrigidität (1)
- Lohnstarrheit (1)
- Long Term Investment (1)
- Long-Run Risk (1)
- Long-Run Underperformance (1)
- Long-run risk (1)
- Long-term Contracts (1)
- Loss Sharing (1)
- Loss-aversion (1)
- Low-emission vehicles (1)
- Lucas paradox (1)
- MIFID (1)
- MMFs (1)
- MTS Bond Market (1)
- Macroeconomic Forecasting (1)
- Macroeconomic Fundamentals (1)
- Macroeconomic Modeling (1)
- Macroeconomic News (1)
- Macroeconomic News Announcements (1)
- Macroeconomics (1)
- Macroprudential policy (1)
- Male and Female Differences (1)
- Management Commentary (1)
- Managerial rent (1)
- Managing Innovations (1)
- Mandatory Law (1)
- Margin (1)
- Marginal Propensity to Consume (1)
- Mark-to-Market Accounting (1)
- Market (in)completeness (1)
- Market Concentration (1)
- Market Data Sales (1)
- Market Fragility (1)
- Market Integrity (1)
- Market Linkage (1)
- Market Liquidity (1)
- Market Making (1)
- Market Manipulation (1)
- Market Microstructure Noise (1)
- Market Microstructure Theory (1)
- Market Oversight (1)
- Market Power (1)
- Market Reactions (1)
- Market Value (1)
- Market discipline (1)
- Market efficiency (1)
- Market fragmentation (1)
- Market manipulation (1)
- Market microstructure (1)
- Market sentiment (1)
- Market volatility (1)
- Markov Perfect Equilibrium (1)
- Markov Processes (1)
- Markov-Modell (1)
- Markov-switching DSGE (1)
- Markov–Switching (1)
- Marktmacht (1)
- Marktstruktur (1)
- Matching (1)
- Maximum Likelihood (1)
- Maximum likelihood estimation (1)
- Medicare (1)
- Mehrgenerationenmodell (1)
- Mehrproduktbetrieb (1)
- Mehrwertsteuersenkung (1)
- Memory (1)
- Mensch und Maschine (1)
- Mental models (1)
- Merchandise trade (1)
- Merger Arbitrage (1)
- Meritocracy (1)
- Methode (1)
- Mexiko (1)
- MiFID (1)
- Microfinance (1)
- Microstructure Noise (1)
- Migration (1)
- Mikrostrukturtheorie <Kapitalmarkttheorie> (1)
- Mini-flash crash (1)
- Minimum Reserves (1)
- Minority Shareholder Protection (1)
- Mis-selling (1)
- Mitgliedschaft (1)
- Mitigation (1)
- Mixed-frequency data (1)
- Mixing Frequencies (1)
- Mixture Distributions (1)
- Mobility (1)
- Model Adequacy (1)
- Model Comparison (1)
- Model Selection (1)
- Model evaluation (1)
- Model uncertainty (1)
- Model-based regulation (1)
- Modell (1)
- Models and Applications (1)
- Monetarism (1)
- Monetary (1)
- Monetary Models (1)
- Monetary Policy Surprises (1)
- Monetary Policy Transmission (1)
- Monetary Shocks (1)
- Monetary Targeting (1)
- Monetary policy strategy (1)
- Monetary-fiscal interaction (1)
- Money Creation (1)
- Money Market (1)
- Money Market Funds (1)
- Money demand (1)
- Money non neutrality (1)
- Monte Carlo Likelihood (1)
- Monte Carlo Methods (1)
- Monte Carlo integration (1)
- Moral Hazar (1)
- Morality (1)
- Mortality risk (1)
- Mortgage Markets (1)
- Mortgage affordability (1)
- Mortgage design (1)
- Mortgage premia (1)
- Mortgage supply (1)
- Multi-Layer Network (1)
- Multi-Products Firms (1)
- Multi-Step estimation (1)
- Multi-level marketing (1)
- Multilayer networks (1)
- Multiline Insurance (1)
- Multiple Blockholders (1)
- Multiple Equilibria (1)
- Multiple equilibria (1)
- Multiplicative Error Models (1)
- Multitasking (1)
- Multivariate Stable Distribution (1)
- Multivariate time series (1)
- Mundellian trilemma (1)
- Music (1)
- Mutual Funds (1)
- Mutual funds (1)
- Mutually Exciting Processes (1)
- Mutually exciting processes (1)
- Mängelhaftung (1)
- Münzgewinn (1)
- NCAs (1)
- NFT (1)
- NLP (1)
- Nachfrage (1)
- Narrative Approach (1)
- Narrative Identification (1)
- Narratives (1)
- Narrow Banking (1)
- Nasdaq (1)
- Nash Bargaining (1)
- Nash equilibrium (1)
- National Accounting (1)
- Natural Language Processing (1)
- Natural experiments (1)
- Negative home equity (1)
- Nelson-Siegel curve (1)
- Nelson-Siegel model (1)
- Net Foreign Assets (1)
- Net Worth (1)
- Net-zero transition (1)
- Network Combination (1)
- Network Communities (1)
- Network theory (1)
- Neural Network (1)
- Neuseeland (1)
- Neutralität des Geldes (1)
- New Keynesian DSGE (1)
- New Keynesian Models (1)
- New-Keynesian Models (1)
- News (1)
- News Releases (1)
- News Sentiment (1)
- News and Business Cycles (1)
- News media sentiment (1)
- Next Generation EU (1)
- Nichtlineare Zeitreihenanalyse (1)
- Nichtlineares mathematisches Modell (1)
- Niedrigzinsen (1)
- Niedrigzinsphase (1)
- Niedrigzinsumfeld (1)
- Nominal Rigidities (1)
- Nominal Wage Rigidity (1)
- Non-Display Order (1)
- Non-Fungible Tokens (1)
- Non-bank lead arrangers (1)
- Non-fungible tokens (NFTs) (1)
- Non-governmental Organizations (1)
- Non-linear pricing design (1)
- Nonlinear Bayesian Estimation (1)
- Nonlinear Optimal Policy (1)
- Nonlinear Policy (1)
- Nonlinear solution methods (1)
- Nonlinearity (1)
- Norwegian banking crisis (1)
- Notenbankpolitik (1)
- Number of Lenders (1)
- Number of lenders (1)
- Numerical Solution (1)
- Nutzenfunktion (1)
- OPEC (1)
- OTC (1)
- OTC Markets (1)
- OTC derivatives (1)
- Obfuscation (1)
- Occasionally Binding Constraint (1)
- Offene Volkswirtschaft (1)
- Offenlegungspflichten (1)
- Oil (1)
- Oil market (1)
- Older Population (1)
- On-the-Job Search (1)
- Online Surveys (1)
- Open Economy (1)
- Open Economy DSGE Models (1)
- Open banking (1)
- Opening Auction (1)
- Opening Call Auction (1)
- Opening Price (1)
- Operational Risk (1)
- Optimal Asset Allocation (1)
- Optimal Industrial Policies (1)
- Optimal Policy (1)
- Optimal Policy Mix (1)
- Optimal Regulation (1)
- Optimierung (1)
- Option (1)
- Option Pricing (1)
- Option-pricing Model (1)
- Options (1)
- Order Entry (1)
- Order Flow (1)
- Order Placement Strategy (1)
- Orderbuch (1)
- Ordnungspolitik (1)
- Original sin (1)
- Orphanides-Wieland rule (1)
- Osteuropa (1)
- Output Gap Uncertainty (1)
- Output Growth (1)
- Output and Inflation Persistence (1)
- Outright Monetary Transactions (1)
- Over-Confidence (1)
- Overlapping Generations (1)
- Overlapping generations (1)
- Overvaluation Hypothesis (1)
- Own Risk and Solvency Assessment (1)
- Ownership structures (1)
- PPP (1)
- Panama Papers (1)
- Pandemic (1)
- Panel Cointegration (1)
- Panel Data (1)
- Panel Sample Selection Models (1)
- Panelanalyse (1)
- Pareto Inferior (1)
- Pareto-Optimum (1)
- Partial Information (1)
- Patience (1)
- Paul Volcker (1)
- Paycheck Protection Program (1)
- Pecuniary Externality (1)
- Peer Effects (1)
- Peer effects (1)
- Peers (1)
- Pension (1)
- Pension Finance (1)
- Pension system (1)
- Pensions Dashboard (1)
- Perceptions (1)
- Perfect Sequential Equilibrium (1)
- Performance Gap (1)
- Permanent and Transitory Decomposition (1)
- Permanent-Income Hypothesis (1)
- Persistence (1)
- Persistent and Transitory Income Shocks (1)
- Personal Communication (1)
- Personal Finance (1)
- Personality traits (1)
- Petroleum-based Economies (1)
- Pivotality (1)
- Plaintiff Lawyers (1)
- Planning (1)
- Point-Mass Mixture (1)
- Point-mass Mixture (1)
- Policy Analysis (1)
- Policy Center (1)
- Policy Effects (1)
- Policy measures in the EU (1)
- Political Economy (1)
- Politikgestaltung volkswirtschaftlicher Institutionen (1)
- Politisches Handeln <Motiv> (1)
- Pollution (1)
- Population Aging (1)
- Portfolio (1)
- Portfolio Allocation (1)
- Portfolio Inertia (1)
- Portfolio Insurance (1)
- Portfolio Management (1)
- Portfolio Rebalancing (1)
- Portfolio optimization (1)
- Portfolio-Management (1)
- Portfolios (1)
- Positive semidefiniteness (1)
- Potential Output (1)
- Prag <2008> (1)
- Pre-Opening (1)
- Preference Interaction (1)
- Preference Stability (1)
- Preference Uncertainty (1)
- Preference for early resolution of uncertainty (1)
- Preference survey module (1)
- Preis (1)
- Preisdifferenzierung (1)
- Preisdiskriminierung (1)
- Preisänderung (1)
- Price Competition (1)
- Price Expectations (1)
- Price Formation (1)
- Price Impact (1)
- Price Pressures (1)
- Price Stability (1)
- Price discrimination (1)
- Price elasticity of gasoline demand (1)
- Pricing Determinants (1)
- Pricing bubbles (1)
- Pride (1)
- Principal Component Analysis (1)
- Prior (1)
- Private Altersversorgung (1)
- Private Altersvorsorge (1)
- Private Business (1)
- Private Public Partnership (PPP) (1)
- Private benefits (1)
- Private debt (1)
- Private ordering (1)
- Privater (1)
- Privatization (1)
- Prize Stabilization (1)
- Pro-Rata (1)
- Probability Weighting Function (1)
- Product returns (1)
- Production (1)
- Production Economy (1)
- Production, Saving, Consumption and Investment Forecasting (1)
- Productivity and Growth (1)
- Produktivität (1)
- Professionalisierung der Aufsichtsratstätigkeit (1)
- Program Evaluation (1)
- Promise Keeping (1)
- Propagation mechanism (1)
- Proprietary Trading (1)
- Prosociality (1)
- Prudence (1)
- Prudential filter (1)
- Public Goods (1)
- Public Housing (1)
- Public Policy (1)
- Public Private Partnership (1)
- Public financial news (1)
- Public pension funds (1)
- Public-Private Partnerships (1)
- Publizität (1)
- Publizitätspflicht (1)
- Puffer (1)
- Pump-and-dump schemes (1)
- QE (1)
- Quantile Causality (1)
- Quantile Regression (1)
- Quantitative Lockerung (1)
- Quantitative trade models (1)
- Quantity Equation (1)
- Quantitätstheorie (1)
- Question Framing (1)
- Quid-pro-quo Mechanism (1)
- R&D Collaboration (1)
- R&D Investment (1)
- R&D expenses (1)
- RBC (1)
- RCT (1)
- Raiffeisenbank (1)
- Ramsey planner (1)
- Range-based estimation (1)
- Rating Agencies (1)
- Rating Process (1)
- Ratingagentur (1)
- Rational Inattention (1)
- Rationale Erwartung (1)
- Real Estate (1)
- Real Exchange Rate (1)
- Real GDP (1)
- Real Interest Rates (1)
- Real Wage Rigidities (1)
- Real estate (1)
- Real options (1)
- Real-Time Data (1)
- Realer Wechselkurs (1)
- Realization Utility (1)
- Realized Kernel (1)
- Realized Volatility (1)
- Realzins (1)
- Recht (1)
- Rechtsdurchsetzung (1)
- Rechtsnormen (1)
- Record resolution (1)
- Recursive Least Squares (1)
- Recursive Saddlepoint Method (1)
- Recursive Utility (1)
- Redemptions (1)
- Reference Point (1)
- Referrals (1)
- Regional Entrepreneurship (1)
- Regional Inflation Dynamics (1)
- Regression Discontinuity (1)
- Regret (1)
- Regularization (1)
- Regulation of Financial Institutions (1)
- Regulations (1)
- Regulatory Arbitrage (1)
- Regulatory Capture (1)
- Related Party Transactions (1)
- Relationship Lending (1)
- Relationship banking (1)
- Rendite (1)
- Rent-Seeking (1)
- Rente (1)
- Rentenalter (1)
- Rententransparenz (1)
- Rents (1)
- Reorganization (1)
- Repeated Games (1)
- Repeated Principal-Agent Model (1)
- Repo Markets (1)
- Repo Specialness (1)
- Reporting Standards (1)
- Representative Consumer (1)
- Reproduktionszahlen (1)
- Research and development (1)
- Research design (1)
- Reserve Orders (1)
- Reserve Requirements (1)
- Reserve requirements (1)
- Resiliency (1)
- Resolution Planning (1)
- Resource Acquisition (1)
- Resource Based View (1)
- Responsible investment (1)
- Restructuring (1)
- Restrukturierungsgesetz (1)
- Retail Banking (1)
- Retail Challenge (1)
- Retail gasoline price (1)
- Retirement Accounts (1)
- Retirement Security (1)
- Retirement Seminars (1)
- Retirement and Retirement Policies (1)
- Retirement planning (1)
- Retirement saving (1)
- Return (1)
- Return Risk (1)
- Return predictability (1)
- Returns to experience (1)
- Reversible Jump Markov Chain Monte Carlo (1)
- Revisions (1)
- Revolving Debt (1)
- Riester-Rente (1)
- Risikoanalyse (1)
- Risikoaversion (1)
- Risikomaße (1)
- Risikoverhalten (1)
- Risk Assessment (1)
- Risk Attitudes (1)
- Risk Measurement (1)
- Risk Pooling (1)
- Risk Preferences (1)
- Risk Taking (1)
- Risk sharing (1)
- Risk taking (1)
- Risk-Return Characteristics (1)
- Risk-neutral densities (1)
- Risk-premium (1)
- Risk-taking (1)
- Riskfree Rate (1)
- Risky Decision (1)
- Robust Simple Rules (1)
- Routine Medical Care (1)
- Rubin Causal Model (1)
- Ruhegeld (1)
- Rule-of-Thumb Consumers (1)
- Russia (1)
- Russian Economy (1)
- Russian Sanction (1)
- S corporations (1)
- S&P 500 (1)
- SEC (1)
- SHARE, Projekt (1)
- SIFI (1)
- SME Trading (1)
- SPR (1)
- SRB (1)
- SRF (1)
- SSM (1)
- STAR GARCH (1)
- STS (simple, transparent, and standardized securitizations) (1)
- SVAR (1)
- Saving Behavior (1)
- Saving Decisions (1)
- Saving puzzles (1)
- Savings (1)
- Say on Pay (1)
- Scenario (1)
- Schadensindex (1)
- Schenkungsteuer (1)
- Schuldnerland (1)
- Schweden (1)
- Schätzfunktion (1)
- Schätztheorie (1)
- Screening (1)
- Search Frictions (1)
- Search Model (1)
- Search frictions in housing markets (1)
- Secondary Loan Markets (1)
- Securities Market Regulation (1)
- Securities Regulation (1)
- Securities regulation (1)
- Securitisation (1)
- Segmentation (1)
- Self Control (1)
- Self-Control (1)
- Self-exciting point process (1)
- Selling Behavior (1)
- Selling Decisions (1)
- Semiparametric Model (1)
- Sensitivität (1)
- Sentiment Analysis (1)
- Sequential Policy (1)
- Services Trade (1)
- Settlement (1)
- Settlement Latency (1)
- Severance Pay (1)
- Shadow Banking (1)
- Shannon capacity (1)
- Shapley-Lösung (1)
- Shareholder Letters (1)
- Shareholder Rights Directive (1)
- Shareholder wealth (1)
- Short Selling Constraints (1)
- Short-run Risk (1)
- Short-time work (1)
- Shortfall Risk (1)
- Signaling (1)
- Signaling Game (1)
- Similarity (1)
- Similarity encoding (1)
- Simulation (1)
- Sin Stocks (1)
- Single Banking Market (1)
- Single Resolution Mechanism (SRM) (1)
- Single Supervisy Mechanism (1)
- Skonto (1)
- Slow-Moving Capital (1)
- Small Business (1)
- Small Open Economy Models (1)
- Smoothing (1)
- SoFFin (1)
- Sociability (1)
- Social (1)
- Social Conditioning (1)
- Social Distance (1)
- Social Impact (1)
- Social Interactions (1)
- Social Learning (1)
- Social Norms (1)
- Social Policy (1)
- Social Security Reform (1)
- Social Security and Public Pensions (1)
- Social Security claiming (1)
- Social Security claiming age (1)
- Social Security reform (1)
- Social Security solvency (1)
- Social and Governance (ESG) (1)
- Social media (1)
- Social networks (1)
- Socially responsible investing (1)
- Socioeconomic Status (1)
- Sociology of Finance (1)
- Soft Information (1)
- Sovereign (1)
- Sovereign Bond Markets (1)
- Sovereign Bonds (1)
- Sovereign Credit Risk (1)
- Sovereign Debt Restructuring Mechanism (1)
- Sovereign Wealth Funds (1)
- Sovereign credit risk (1)
- Sovereign debt crisis (1)
- Sovereign guarantees (1)
- Sovereign risk (1)
- Sovereign wealth funds (1)
- Sowjetunion (1)
- Sozialausgaben (1)
- Soziale Marktwirtschaft (1)
- Sozialversicherung (1)
- Sparkasse (1)
- Sparse estimation (1)
- Sparsity (1)
- Spatial autoregressive model (1)
- Spatial housing markets (1)
- Spectral Decomposition (1)
- Speculative bubbles (1)
- Spende (1)
- Spezifität (1)
- Spike–and–Slab prior (1)
- Spill-over-Effekt (1)
- Spillovers (1)
- Spitzentechnologie (1)
- Staat (1)
- Staatsanleihe Staatsanleihe (1)
- Staatsaufsicht (1)
- Staatsverschuldung (1)
- Stabilisierung (1)
- Stability (1)
- Stability and Growth Pact (1)
- Stabilitäts- und Wachstumspakt (1)
- Stablecoins (1)
- Stages (1)
- Stagnation (1)
- Stakeholder (1)
- Standard Setting (1)
- Standards (1)
- Standortpolitik (1)
- Start-ups (1)
- State-Dependent Pricing (1)
- Stationarity (1)
- Stationary Equilibrium (1)
- Status organizations (1)
- Stay-Home (1)
- Sterling (1)
- Steuergelder (1)
- Steuerhinterziehung (1)
- Steueroasen (1)
- Steuerpolitik (1)
- Steuerprogression (1)
- Steuersatz (1)
- Steuervermeidung (1)
- Sticky Information (1)
- Stochastic Discount Factor (1)
- Stochastic General Equilibrium Model (1)
- Stochastic Growth Model (1)
- Stochastic Search Variable Selection (1)
- Stochastic volatility (1)
- Stochastische dynamische Optimierung (1)
- Stochastischer Prozess (1)
- Stock Exchanges (1)
- Stock Market Dynamic Interactions (1)
- Stock Market Returns (1)
- Stock Markets (1)
- Stock Returns (1)
- Stock Trading (1)
- Stock market (1)
- Stock market wealth (1)
- Stock-market participation (1)
- Strategic Complementarity (1)
- Strategic investors (1)
- Strategieberichterstattung (1)
- Structural Bank Reform (1)
- Structural Change (1)
- Structural VAR (1)
- Structural VAR Approach (1)
- Structural estimation (1)
- Structured retail products (1)
- Struktur (1)
- Strukturanpassungen (1)
- Stückkosten (1)
- Subjective Survival Beliefs (1)
- Subjective expectations (1)
- Subsidization (1)
- Substitutionselastizität (1)
- Success Rates (1)
- Supervision (1)
- Supervisory Achitecture (1)
- Supervisory Relief Measures (1)
- Surveillance (1)
- Survey (1)
- Survey Data (1)
- Survey Methods (1)
- Sustainability-Linked Bonds (1)
- Sustainability-Linked Loans (1)
- Sustainabilty (1)
- Sustainable Finance Disclosure Regulation (1)
- Sustainable finance (1)
- Sustainable finance literacy (1)
- Swap (1)
- Sweden (1)
- Swiss Army Knife (1)
- Sydney Stock Exchange (1)
- Syndicated Loans (1)
- Syndication (1)
- Systemic events (1)
- Systemically Important Financial Institutions (1)
- TARGET balances (1)
- TARGET-Salden (1)
- TARGET2 (1)
- TARP (1)
- TIPS–Treasury puzzle (1)
- TLTRO (1)
- TRACE (1)
- Tageswert (1)
- Takeover speculation (1)
- Target 2 (1)
- Tarifverhandlung (1)
- Tax Cuts (1)
- Tax Cuts and Jobs Act (1)
- Tax Distortions (1)
- Tax Multiplier (1)
- Tax Rebates (1)
- Taxation of Capital (1)
- Taxonomie (1)
- Taxonomy Regulation (1)
- Taylor Regel (1)
- Taylor-Regel (1)
- Technische Aktienanalyse (1)
- Technischer Fortschritt (1)
- Technology Adoption (1)
- Technology Park (1)
- Technology Shocks (1)
- Technology spillover (1)
- Temporal aggregation (1)
- Term Structure (1)
- Term Structure Modelling (1)
- Term life insurance (1)
- Terminmarkt (1)
- Terminplanung (1)
- Terms of Trade (1)
- Terrorism (1)
- Testen (1)
- Textual Sentiment (1)
- The Community Reinvestment Act (1)
- Threshold Error Correction (1)
- Tick Size (1)
- Time Inconsistency (1)
- Time Preferences (1)
- Time variation (1)
- Time-Consistency (1)
- Time-varying networks (1)
- Timing (1)
- Tobin tax (1)
- Tone (1)
- Too big to fail (1)
- Too-big-to-fail (1)
- Top 1% (1)
- Topmanager (1)
- Toxic Emissions (1)
- Trade Integration (1)
- Trade sales (1)
- Trade-sale Rights (1)
- Trading volume (1)
- Transaction costs (1)
- Transition (1)
- Transition Financing (1)
- Transitional Dynamics (1)
- Treasury Futures (1)
- Tree-based models (1)
- Trend Growth (1)
- Trennbanken (1)
- Triple Difference Estimator (1)
- Trittbrettfahrerverhalten (1)
- Trust Game (1)
- Trustworthiness (1)
- Tunneling (1)
- Turkey (1)
- Turning points (1)
- Tying (1)
- U.S. Banking Industry (1)
- U.S. oil independence (1)
- UK (1)
- US monetary aggregates (1)
- US top-wealth shares (1)
- US-Dollar (1)
- USA / Board of Governors of the Federal Reserve System (1)
- USA / President (1)
- Ukraine (1)
- Umbrella Policies (1)
- Umfrage (1)
- Unabhängigkeit (1)
- Unconventional Monetary policy (1)
- Unconventional oil & gas development (1)
- Under Risk (1)
- Underwriter (1)
- Undiversifiable Earnings Risk (1)
- Unendliches Spiel (1)
- Ungleichheit (1)
- Unit root (1)
- United States (1)
- Universal Banking (1)
- Universal banks (1)
- University governance (1)
- Unobserved Component Models (1)
- Unsicherheit (1)
- Unsichtbarer Handel (1)
- Unterbewertung (1)
- Unternehmensbewertung (1)
- Unternehmensentwicklung (1)
- Unternehmensgröße (1)
- Unternehmenskonzentration (1)
- Up-front fees (1)
- Upper Limit (1)
- Upside Risk (1)
- Utility Functions (1)
- Utility Maximization (1)
- Utility Theory (1)
- Utilization (1)
- VAR Modeling (1)
- VAR estimation (1)
- VC-backed IPOs (1)
- VLCC (1)
- Value creation (1)
- Value premium (1)
- Variance Risk Premium (1)
- Vector Autoregression (1)
- Vektoranalysis (1)
- Venue Choice (1)
- Verdopplungszeit (1)
- Vereinigtes Königreich (1)
- Vergleich (1)
- Verhaltensökonomie (1)
- Verhandlungsspiel (1)
- Verhandlungstheorie (1)
- Verlust (1)
- Verlustrücktrag (1)
- Vermögen (1)
- Vermögenspreise (1)
- Vermögensumverteilung (1)
- Vermögensverteilung (1)
- Versicherung (1)
- Versicherungen (1)
- Versicherungsbetrieb (1)
- Versicherungsnehmer (1)
- Versicherungsschutz (1)
- Versicherungsverein auf Gegenseitigkeit (1)
- Versicherungsvertrag (1)
- Versicherungswirtschaft (1)
- Verteilungsgerechtigkeit (1)
- Vertical Integration (1)
- Vertical R&D (1)
- Vertrag über die Arbeitsweise der EU (AEUV) (1)
- Vertragsschluss (1)
- Volcker Rule (1)
- Volksbank (1)
- Vorstandsvergütung (1)
- Vorstandsvorsitzender (1)
- WHO alerts (1)
- Wachstum (1)
- Wage Setting (1)
- Wage rigidity (1)
- Wagner's Law (1)
- Wagnisfinanzierungsgesellschaft (1)
- Washington <DC, 2008> (1)
- Watchlist (1)
- Water pollution (1)
- Weak Instruments (1)
- Wealth Accumulation (1)
- Wealth Decumulation (1)
- Wealth Distribution (1)
- Wealth Effect (1)
- Wealth Holdings (1)
- Wealth Losses (1)
- Wealth Shocks (1)
- Wealth effects (1)
- Wealth shocks (1)
- Wechselkurspolitik (1)
- Welfare Costs (1)
- Weltwirtschaft (1)
- Wertpapieranalyse (1)
- Wertpapieranlage (1)
- Wertpapierberatung (1)
- Wertpapierbörse (1)
- Wertpapiere (1)
- Wertpapierhandel (1)
- Wertpapiermärkte (1)
- Wettbewerbsrecht (1)
- Wettbewerbsstrategie (1)
- Wettervorhersage (1)
- Windfalls (1)
- Wirtschaftliche Stabilität (1)
- Wirtschaftsentwicklung (1)
- Wirtschaftsmodell (1)
- Wirtschaftssektor (1)
- Wirtschaftsverfassung (1)
- Wissen (1)
- Wohlfahrtsstaat (1)
- Wohnungsfinanzierung (1)
- Word Embedding (1)
- World Yield (1)
- WpHG (1)
- Währungspolitik (1)
- Währungsrecht (1)
- Währungsrisiko (1)
- Währungssystem (1)
- Währungswettbewerb (1)
- XAI (1)
- Xetra (1)
- Yen (1)
- Yield Curve (1)
- Yield Curve Risk (1)
- Yield curve (1)
- Yield spread (1)
- Zahlungsbedingungen (1)
- Zahlungsbilanzausgleich (1)
- Zahlungsbilanzungleichgewicht (1)
- Zeit (1)
- Zeitinkonsistenz (1)
- Zeitreihe (1)
- Zentralbankensystem (1)
- Zentralbankgeld (1)
- Zentralbankpolitik (1)
- Zentralnbank (1)
- Zero Bound (1)
- Zero lower bound (1)
- Zinsparität (1)
- Zinspolitik (1)
- Zinsspanne (1)
- Zinsspannenrechnung (1)
- Zinsänderungsrisiko (1)
- Zombie Lending (1)
- Zustandsabhängigkeit (1)
- abnormal returns (1)
- absence of arbitrage (1)
- absolute loss (1)
- accountability (1)
- accounting (1)
- accounting data (1)
- acquisition cost (1)
- adaptation (1)
- adaptive learning (1)
- adviser (1)
- affect heuristic (1)
- affine equilibrium model (1)
- age (1)
- age limits (1)
- agency (1)
- agglomeration (1)
- aggregate uncertainty (1)
- aging (1)
- agriculture (1)
- algorithmic trading (1)
- allocation bias (1)
- allocative efficiency (1)
- ambiguity aversion (1)
- ambiguity premium (1)
- analytic functions (1)
- anchor (1)
- angel finance (1)
- annual general meeting (1)
- annuity puzzle (1)
- anticipation (1)
- art investing (1)
- art investments (1)
- asset management (1)
- asset managers (1)
- asset markets (1)
- asset prices (1)
- asset-backed securities (1)
- assetbacked securities (1)
- asymmetric shocks (1)
- asymmetry (1)
- attitudes towards inequality (1)
- auction (1)
- auction format (1)
- audit industry (1)
- audit partners (1)
- audit quality (1)
- audit quality, (1)
- auditor rotation (1)
- automatic enrollment (1)
- average treatment effect (1)
- background risk (1)
- backtesting (1)
- backward stochastic differential equation (1)
- bail-in bonds (1)
- bailouts (1)
- balance of payments (1)
- balance sheet adjustment (1)
- balance sheet risk (1)
- ban (1)
- bank (1)
- bank accounting (1)
- bank and non-bank financial intermediation (1)
- bank balance-sheet channel (1)
- bank behavior (1)
- bank bonds (1)
- bank capital ratios (1)
- bank capital requirements (1)
- bank default (1)
- bank distress (1)
- bank integration (1)
- bank lending channel (1)
- bank loans (1)
- bank performance (1)
- bank relationship (1)
- bank resolution regimes (1)
- bank seserves (1)
- bank stability (1)
- banking and treasury functions (1)
- banking networks (1)
- banking resolution (1)
- banking supervision, (1)
- banking system liquidity (1)
- banking systems (1)
- banknotes (1)
- bankruptcy (1)
- banks’ funding costs (1)
- behavioral economics (1)
- behavioral inattention (1)
- behavioral macroeconomics (1)
- belief effect (1)
- belief estimation (1)
- belief formation (1)
- belief updates (1)
- belief updating (1)
- benchmarks (1)
- betrayal aversion (1)
- betting (1)
- bi-power variation (1)
- biased assimilation (1)
- biased beliefs (1)
- biases (1)
- bidder surplus (1)
- bilateral investment treaties (1)
- biofuel (1)
- biofuels (1)
- biometric risks (1)
- bitcoin (1)
- bond auctions (1)
- bond market liquidity (1)
- bond ownership (1)
- bond returns (1)
- bonds (1)
- booms (1)
- bootstrap (1)
- borrowing (1)
- bounded rationality (1)
- bracket creep (1)
- brown-spinning (1)
- buffer-stock models of saving (1)
- bunker fuel (1)
- bureaucrats' incentives (1)
- business cycles (1)
- business owners wealth (1)
- calendar effects (1)
- call auctions (1)
- capacity constraints (1)
- capacity utilization (1)
- capital adequacy (1)
- capital flows (1)
- capital gains tax (1)
- capital injection to banks (1)
- capital maintenance (1)
- capital ratios (1)
- capital re-cycling (1)
- capital taxation (1)
- capital taxes (1)
- capital-labor ratio (1)
- caps (1)
- career concerns (1)
- career development (1)
- careers (1)
- cartel damages (1)
- cash equity markets (1)
- cash flow effects of interest rate policy (1)
- cash flow sensitivity (1)
- cash holdings (1)
- catastrophe bond (1)
- catastrophic events (1)
- catastrophic risk (1)
- causal inferences (1)
- central bank accountability (1)
- central bank governance (1)
- central bank governor (1)
- central bank information effect (1)
- central bank mandates (1)
- central bank policy (1)
- central counter parties (1)
- central counterparties (1)
- centralisation (1)
- centrality metrics (1)
- certification (1)
- cheating (1)
- childcare (1)
- choice overload (1)
- client involvement (1)
- climate (1)
- climate behavior (1)
- climate policies (1)
- climate risk (1)
- climate-related disclosures (1)
- closed-end funds (1)
- coal (1)
- cognitive abilities (1)
- cognitive load (1)
- cognitive sophistication (1)
- cointegrated systems (1)
- cointegration (1)
- coinvestment (1)
- collateral reuse (1)
- collective action clauses (1)
- collective litigation (1)
- combined forecasting (1)
- commercial banks (1)
- commodities (1)
- commodity (1)
- common bond (1)
- common factor models (1)
- communication (1)
- comparability (1)
- competition between exchanges (1)
- competitive equilibrium (1)
- competitive insurance market (1)
- competitiveness (1)
- complementarity (1)
- compliance behavior (1)
- comprehensive assessment (1)
- computer visionbiases (1)
- conditional CAPM (1)
- conditional volatility (1)
- conditionality (1)
- confirmatory biases (1)
- conflict of laws (1)
- connected industries (1)
- conspicuous consumption (1)
- constrained efficiency (1)
- construction procurement (1)
- consumer education (1)
- consumer loans (1)
- consumer prices (1)
- consumer protection (1)
- consumption commitments (1)
- consumption dynamics (1)
- consumption heterogeneity (1)
- consumption-based models (1)
- consumption-portfolio decisions (1)
- container (1)
- content analysis (1)
- contest (1)
- contingent capital (1)
- continuous limit order book (1)
- contract addition (1)
- contract econometrics (1)
- contract law (1)
- contract theory (1)
- contractual liability (1)
- contrarian trading (1)
- control by Court of Auditors (1)
- controlled diffusion (1)
- controlled diffusions and jump processes (1)
- conventional monetary policy (1)
- convergence (1)
- conÖrmation bias (1)
- coordination risk (1)
- copula (1)
- corporate bonds (1)
- corporate control (1)
- corporate credit risk (1)
- corporate deposits (1)
- corporate governance codes (1)
- corporate income tax (1)
- corporate savings (1)
- corporate social responsibility (1)
- corporate taxation (1)
- corporate taxes (1)
- correlation (1)
- cost of carry model (1)
- cost-benefit analysis (1)
- counterfactual analysis (1)
- counterfactual decompositions (1)
- counterfactual thinking (1)
- covariance (1)
- crack spread (1)
- credence goods (1)
- credit access (1)
- credit card debt (1)
- credit channel (1)
- credit default swap (1)
- credit derivatives (1)
- credit losses (1)
- credit management (1)
- credit market competition (1)
- credit misallocation (1)
- credit ratings (1)
- credit rationing (1)
- credit risk transfer (1)
- credit scoring (1)
- credit volume (1)
- credit-file data set (1)
- creditors runs (1)
- crop prices (1)
- cross-border insolvency (1)
- cross-border institutions (1)
- cross-border political access (1)
- cross-equation restrictions of rational expectations (1)
- cross-section (1)
- cross-section of expected stock returns (1)
- cross-section of stock return (1)
- cross-section of stock returns (1)
- cross-subsidy (1)
- cross‐country analysis (1)
- crowdlending (1)
- crowdsponsoring (1)
- cryptocurrency (1)
- culture (1)
- currencies (1)
- currency board (1)
- currency competition (1)
- current account (1)
- dark trading (1)
- dash-for-cash (1)
- debt issuance (1)
- debt relief to households (1)
- debt structure (1)
- decentralization theorem (1)
- decision theory (1)
- default effect (1)
- default investment (1)
- deleveraging (1)
- demand curve (1)
- demand elasticities (1)
- democracy (1)
- demographic change (1)
- demographic trends (1)
- demographischer Wandel (1)
- deposit insurance (1)
- deposits (1)
- deregulation (1)
- derivates market (1)
- designated market makers (1)
- dictator game (1)
- die game milk (1)
- diesel (1)
- differences of opinion (1)
- differential games (1)
- diffusion of norms (1)
- digital money (1)
- digital planning tool (1)
- digitalization (1)
- directors (1)
- disaggregated prices (1)
- disaggregation (1)
- disagreement (1)
- disclosure (1)
- discourse analysis (1)
- discretionary lending (1)
- disinflation (1)
- disintermediation (1)
- distance (1)
- distributed ledger technology (1)
- distribution channel (1)
- distributional consequences of monetary policy (1)
- divergence of opinion (1)
- diversity (1)
- divestments (1)
- dividend policy (1)
- dividends (1)
- dollar (1)
- dollar funding (1)
- doubling time (1)
- dual systems (1)
- duration of civil proceedings (1)
- duration of pay (1)
- dynamic correlation (1)
- dynamic factor models (1)
- dynamic inconsistency (1)
- dynamic model (1)
- dynamic panel GMM estimation (1)
- dynamic panel sata models (1)
- dynamic spillovers (1)
- earnings management (1)
- economic fluctuations (1)
- economic governance (1)
- economic growth (1)
- economic policy (1)
- economic policy uncertainty (1)
- economic preferences (1)
- economic rationality (1)
- economic reforms (1)
- economic surprises (1)
- economies of scale (1)
- educational intervention (1)
- effective lower bound (1)
- egulation of financial markets (1)
- elections (1)
- electronic markets (1)
- electronic trading (1)
- electronic trading systems (1)
- emerging market economies (1)
- emerging markets (1)
- emissions trading system (ETS) (1)
- emotions (1)
- empirical contract theory (1)
- employees (1)
- employer-employee level dataset (1)
- employment (1)
- end-of-day price dislocation (1)
- endogeneity (1)
- endogenous growth (1)
- endogenous information acquisition (1)
- endogenous risk (1)
- endorsement effect (1)
- energy (1)
- energy crisis (1)
- entrepreneurial spawning (1)
- entrusted loan (1)
- equity (1)
- equity betas (1)
- equity market integration (1)
- equity markets (1)
- equity trading (1)
- equity-risk premium (1)
- erm structure of interest rates (1)
- escape dynamics (1)
- ethanol (1)
- ethische Normen (1)
- euro area regional and sectoral inflation (1)
- europäischer Zahlungsverkehr (1)
- eurozone (1)
- event-study (1)
- exchange rate determination (1)
- exchange rate response to monetary policy (1)
- exchange trading rules (1)
- executive labor market (1)
- exit (1)
- expectation (1)
- expectation gap (1)
- experiences (1)
- experiment (1)
- experimental asset markets (1)
- experiments (1)
- expert forecasts (1)
- expert opinions (1)
- exploratory data analysis (1)
- export ban (1)
- exports (1)
- externalities (1)
- externality (1)
- extreme value theory (1)
- factor timing (1)
- factorization of matrix polynomials (1)
- fairness (1)
- familiarity (1)
- family firms (1)
- federal transfers (1)
- fertility (1)
- fiduciary (1)
- field study (1)
- filtering (1)
- finance and development (1)
- finance and employment (1)
- finance and technology (1)
- finance wage premium (1)
- financial accelerator (1)
- financial constraints (1)
- financial contracts (1)
- financial crises (1)
- financial cycles (1)
- financial decision-making (1)
- financial derivatives (1)
- financial development (1)
- financial disasters (1)
- financial education (1)
- financial fragility (1)
- financial fragmentation (1)
- financial innovations (1)
- financial literacy determinants (1)
- financial market (1)
- financial market data (1)
- financial market regulation (1)
- financial market stability (1)
- financial market supervision (1)
- financial markets regulation (1)
- financial models (1)
- financial repression (1)
- financial resilience (1)
- financial retrenchment (1)
- financial risk und project risk (1)
- financial risk-taking (1)
- financial solidarity (1)
- financial spillover (1)
- financial spillovers (1)
- financial stablity (1)
- financial stocks (1)
- financial structure (1)
- financial supervision (1)
- financial systems (1)
- financial transaction data (1)
- financial transaction tax (1)
- financing (1)
- financing constraint (1)
- fire sales (1)
- firm growth (1)
- firm objective (1)
- firm value (1)
- first-order approach (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 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)
- floor versus screen trading (1)
- floors (1)
- food crisis (1)
- food price volatility (1)
- forbearance (1)
- forecast (1)
- forecast accuracy (1)
- forecasts (1)
- foreign currency lending (1)
- foreign direct investment (1)
- foreign portfolio investment (1)
- formal education (1)
- fragmentation (1)
- free banking (1)
- free dividend fallacy (1)
- free-riding problem (1)
- frequency domain (1)
- frequent batch auctions (1)
- front loading Effekte (1)
- front loading effects (1)
- functional finance approach (1)
- fund growth (1)
- funding dry-ups (1)
- funding risk (1)
- furlough (1)
- futures markets (1)
- game perceptions (1)
- gasoline supply (1)
- gasoline tax (1)
- gender (1)
- gender equality (1)
- gender wage gap (1)
- general exogenous processes (1)
- genetics (1)
- geographic expansion (1)
- geopolitical risk (1)
- german banking system (1)
- german banks (1)
- german pension system (1)
- global banking (1)
- global co-movement (1)
- global preference survey (1)
- goal orientation (1)
- government (1)
- government debt (1)
- gradualism (1)
- greek crisis (1)
- green central bank policy (1)
- green financing (1)
- group identity (1)
- group law (1)
- group size (1)
- growth options (1)
- habit (1)
- health (1)
- hedging errors (1)
- hedonic model (1)
- herd immunity (1)
- heterogeneity (1)
- heterogeneous beliefs (1)
- heterogeneous expectations (1)
- heterogeneous firms (1)
- heterogeneous monetary policy response (1)
- heterogeneous price expectations (1)
- heterogeneous wage rigidity (1)
- hidden action (1)
- high consumption volatility (1)
- high frequency data (1)
- high frequency trading (1)
- high-frequency traders (HFTs) (1)
- high-frequency trading (1)
- high-tech (1)
- high-tech investment (1)
- higher order beliefs (1)
- higher-order beliefs (1)
- holdout litigation (1)
- honesty (1)
- hours per capita measurement (1)
- house price (1)
- household liquidity (1)
- household savings (1)
- household wealth (1)
- household finance (1)
- households (1)
- housing debt crisis (1)
- housing expenditure share (1)
- housing investments (1)
- ideational shift (1)
- idle time (1)
- impatience (1)
- imperfect common knowledge (1)
- imperfect competition (1)
- imperfect labor market competition (1)
- implied correlation (1)
- import prices (1)
- import-export relations (1)
- impulse analysis (1)
- incentive compatibility (1)
- incentive compensation (1)
- incentive pay (1)
- incentives for investment (1)
- incidence (1)
- income dependent inflation (1)
- income distribution (1)
- income risk (1)
- income tax (1)
- incomplete information (1)
- independent private values (1)
- indeterminacy (1)
- index of lost lifetime (1)
- indicators (1)
- indirect inference estimation (1)
- individual retirement account (1)
- individual-bank lending (1)
- individuelle Altersvorsorge (1)
- industrial organization (1)
- inertia in demand (1)
- infection dynamics (1)
- inference (1)
- inflation expectations (1)
- inflation forecast targeting (1)
- inflation forecasting (1)
- inflation inertia (1)
- inflation swaps (1)
- informal loans (1)
- informal markets (1)
- information (1)
- information asymmetry (1)
- information demand (1)
- information flow (1)
- information frictions (1)
- information networks (1)
- information processing (1)
- information sharing (1)
- informational externalities (1)
- informativeness principle (1)
- infrastructural power (1)
- infrastructure (1)
- input-output (1)
- instability under learning (1)
- institutional design (1)
- instruments (1)
- insurance industry (1)
- insurance supervision (1)
- inter-corporate loan (1)
- interbank market (1)
- interbank markets (1)
- interconnections (1)
- interdependence (1)
- interdependent preferences (1)
- interest rate elasticity (1)
- interest rate risk (1)
- interest-rate channel (1)
- interest-rate rules (1)
- intergenerational persistence (1)
- intermediate targets (1)
- intermediation (1)
- internal capital markets (1)
- internal financing (1)
- internal money market (1)
- internal rating models (1)
- internal ratings (1)
- internal ratings based approach (1)
- international capital markets (1)
- international comparative finance (1)
- international currencies (1)
- international diversification benefits (1)
- international lendin (1)
- international monetary system (1)
- international price dispersion (1)
- international price setting (1)
- international taxation (1)
- internationaler Konjunkturzusammenhang (1)
- internet (1)
- intertemporal trade (1)
- intraday (1)
- intraday (co-)variation risk (1)
- intraday non-linearities (1)
- intuitive thinking (1)
- inverse probability weighting (1)
- investment behavior (1)
- investment biases (1)
- investment forum (1)
- investment guarantee (1)
- investment mistakes (1)
- investor behavior (1)
- investor preferences (1)
- investor segmentation (1)
- investor sentiment (1)
- investor sophistication (1)
- isk premiums (1)
- jet fuel (1)
- jump risk (1)
- jumps in aggregate consumption (1)
- jumps in the longrun growth rate (1)
- kapitalgedeckte Alterssicherung (1)
- knowledge of economics and finance (1)
- knowledge of finance and economics (1)
- labelling (1)
- labels (1)
- labor demand (1)
- labor hoarding (1)
- labor income (1)
- labor income taxes (1)
- labor market (1)
- labor market entry (1)
- labor mobility (1)
- labour economics (1)
- labour market policies (1)
- large language models (1)
- latency arbitrage (1)
- law (1)
- law enforcement (1)
- layoff risk (1)
- learning about jumps (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)
- leverage constraint (1)
- leverage effect (1)
- life cycle model (1)
- life expectancy (1)
- life-cycle (1)
- life-cycle behavior (1)
- life-cycle household decisions (1)
- life-cycle hypothesis (1)
- life-cycle models (1)
- life-cycle utility maximization (1)
- lifecycle (1)
- lifecycle investment (1)
- lifecycle saving (1)
- liftoff (1)
- likelihood insensitivity (1)
- limited arbitrage (1)
- liquidity elasticity (1)
- liquidity externalities (1)
- liquidity premium (1)
- liquidity requirements (1)
- liquidity runs (1)
- loan guarantees (1)
- loan loss allowances (1)
- loan officer (1)
- loan origination (1)
- loan price determination (1)
- local investors (1)
- local method of moments (1)
- local projection (1)
- local projections (1)
- local public debt (1)
- locally non-diversifiable risk (1)
- location decisions (1)
- long memory (1)
- long real interest rates (1)
- long time series (1)
- long-run growth (1)
- long-term real interest rates (1)
- longrun risk (1)
- loss index (1)
- loss sharing (1)
- losses (1)
- lottery-type assets (1)
- low frequency trends (1)
- low interest rate environment (1)
- low risk anomaly (1)
- lump sum (1)
- macro-finance (1)
- macro-financial models (1)
- macro-prudential policy (1)
- macro-prudential tools (1)
- macroeconomic conditions (1)
- macroeconomic experiences (1)
- macroeconomic fundamentals (1)
- macroeconomic risks (1)
- macrofinancial linkages (1)
- macroprudential franework (1)
- macroprudential policy transmission (1)
- macroprudential regulation (1)
- make-up strategies (1)
- makroökonomische Konjunkturforschung (1)
- management compensation (1)
- mandatory disclosure (1)
- manufacturing (1)
- marked to market (1)
- marked to market. (1)
- market and credit risk factors (1)
- market design (1)
- market enforcement (1)
- market expectation (1)
- market fragmentation (1)
- market infrastructure (1)
- market integration (1)
- market makers (1)
- market making (1)
- market microstructure (1)
- market microstructure noise (1)
- market price (1)
- market quality (1)
- market rate of interest (1)
- market risk (1)
- market shares (1)
- market size (1)
- market structure (1)
- market-based (1)
- market-based financial intermediation (1)
- market-making (1)
- marketplace lending (1)
- matching (1)
- maturity (1)
- mean response function (1)
- measure of ambiguity (1)
- measurement error (1)
- media polarization (1)
- median (1)
- median response function (1)
- medium-sized debtors (1)
- mergers and acquisitions (1)
- micro data transparency (1)
- microdata (1)
- microprudential supervision (1)
- midpoint extended life order (1)
- mini-flash crash (1)
- misperception (1)
- missing data (1)
- missing disinflation (1)
- mitigation (1)
- mixed frequency (1)
- mnimum distribution requirements (1)
- modal model (1)
- model misspecification (1)
- moderne Notenbanker (1)
- momentum trading (1)
- monetary financing (1)
- monetary non-neutrality (1)
- monetary operations (1)
- monetary policy strategy (1)
- monetary policy surprise (1)
- monetary policy surprise shocks (1)
- monetary reform (1)
- monetary shocks (1)
- monetary system (1)
- monetary targeting (1)
- monetäre Makroökonomik (1)
- money in the utility function (1)
- mood (1)
- moral hazar (1)
- moral values (1)
- mortgage loans (1)
- motivated beliefs (1)
- motivated reasoning (1)
- motivation for honesty (1)
- multi agent models (1)
- multi-unit auctions (1)
- multinational firms (1)
- multiple lending (1)
- multiple point of entry (1)
- multiple-bank lending (1)
- multiplex networks (1)
- multiplicative error model (1)
- multivariate GARCH (1)
- mutual fund performance (1)
- nance premium (1)
- narrative sign restrictions (1)
- national interest (1)
- national systems of local banks (1)
- natural disasters (1)
- natural gas price (1)
- natural rate (1)
- natural unemployment rate (1)
- negativer Zins (1)
- neoinstitutionalism (1)
- net asset value (1)
- net foreign assets (1)
- net wealth (1)
- net zero transition (1)
- net-zero arbitrage (1)
- net-zero plans and targets (1)
- net-zero transition (1)
- network (1)
- network analysis (1)
- network centrality (1)
- network dynamics (1)
- network formation (1)
- network model (1)
- network topology (1)
- network topology estimation (1)
- network visualization (1)
- new fiscal compact (1)
- nominal exchange rate regime neutrality (1)
- nominee account (1)
- non-Bayesian updates (1)
- non-linear VAR (1)
- non-performing assets (1)
- nonlinearities (1)
- nonlinearity (1)
- nonparametric methods (1)
- nonstandard asymptotics (1)
- normal inverse gaussian distribution (1)
- official market interventions (1)
- oil (1)
- oil demand elasticity (1)
- oil price shock (1)
- oil sands (1)
- oil supply elasticity (1)
- oil trade (1)
- old cohorts wealth (1)
- one-child policy (1)
- online borrowing (1)
- online experiments (1)
- open economy (1)
- open economy macro-finance modeling (1)
- operating procedures (1)
- opinion (1)
- opportunity (1)
- optimal asset allocation (1)
- optimal capital structure choice (1)
- optimal inflation rate (1)
- optimal learning (1)
- optimal monetary policy (1)
- optimal policy (1)
- optimal rate of inflation (1)
- optimal stopping (1)
- optimum currency area (1)
- option-implied distribution (1)
- options (1)
- order flow (1)
- order submission (1)
- orthogonalization (1)
- otc derivatives markets (1)
- outgroup derogation (1)
- output fluctuations (1)
- output gap (1)
- output gap estimates (1)
- overconfidence (1)
- overlapping generations (1)
- overlapping wage contracts (1)
- overreaction (1)
- owner-manager conflict (1)
- ownership concentration (1)
- ownership structure (1)
- pairwise connectedness (1)
- pandemic (1)
- pandemic insurance (1)
- panel data (1)
- panel unit root test (1)
- panel vector autoregression (1)
- parameter uncertainty (1)
- pari passu clauses (1)
- partially linear models (1)
- participation (1)
- participation rate (1)
- passthrough (1)
- patents (1)
- paycheck frequency (1)
- payment system (1)
- peak oil (1)
- peer to peer payment systems (1)
- peer-to-peer (1)
- pension funds (1)
- perceived wealth (1)
- performance (1)
- performance indicators (1)
- performance pricing (1)
- performance-sensitive debt (1)
- personal finance (1)
- personality traits (1)
- peso problem (1)
- pessimism (1)
- pharmaceutical industry (1)
- phased withdrawal accounts (1)
- placebo technique (1)
- polarization (1)
- policy (1)
- policy credibility (1)
- policy design of macroeconomic institutions (1)
- policy evaluation (1)
- policy intervention (1)
- policy normalization (1)
- policy reform (1)
- policy robustness (1)
- policy uncertainty (1)
- political behavior (1)
- political economy of bureaucracy (1)
- political polarization (1)
- politics (1)
- pooling equilibrium (1)
- portfolio management (1)
- portfolio modelling (1)
- portfolio optimization (1)
- portfolio performance (1)
- portfolio selection (1)
- posterior (1)
- posterior risk (1)
- potential output (1)
- precautionary recapitalization (1)
- predictive likelihood (1)
- present bias (1)
- price discovery process (1)
- price discrimination (1)
- price elasticity (1)
- price impact (1)
- price reversal (1)
- price rigidities (1)
- price shocks (1)
- price-dividend ratio (1)
- price-setting (1)
- pricing (1)
- pricing estimates (1)
- primary dealers (1)
- principal agent (1)
- principal components (1)
- private Vermögensbildung (1)
- private benefits of control (1)
- private business (1)
- private companies (1)
- private financial services (1)
- private markets (1)
- private money (1)
- private sector involvement (1)
- probability of default (1)
- product development (1)
- productivity growth (1)
- profits (1)
- propagation of inequality (1)
- propensity score (1)
- proprietary trading ban (1)
- protected values (1)
- provisioning rules (1)
- prudential regulation (1)
- public bonds (1)
- public finance (1)
- public information (1)
- public markets (1)
- public policy analysis (1)
- public private partnership (1)
- quadratic variation (1)
- quadratic variation and covariation (1)
- quantile regression (1)
- racial inequality (1)
- randomized controlled trial (1)
- rank feedback (1)
- rare disaster risk (1)
- rare disasters (1)
- rating (1)
- rational bias (1)
- rational learning (1)
- reactive equilibrium (1)
- real and nominal border effect (1)
- real exchange rate dispersion (1)
- real exchange rate volatility (1)
- real exchange rates (1)
- real option (1)
- realized beta (1)
- realized quarticity (1)
- recent economic crisis (1)
- reconciliation of Lucas's advocacy of rational-expectations modelling and policy predictions and Sims's advocacy of VAR modelling (1)
- recursive preferences (1)
- refined products (1)
- refining (1)
- reform (1)
- regime switching model (1)
- regime-dependent correlations (1)
- regional heterogeneity (1)
- regional propagation (1)
- regression adjustment (1)
- regression discontinuity design (1)
- regret (1)
- regularization (1)
- regulatory capture (1)
- rehypothecation (1)
- related party transactions (1)
- relationship lending, (1)
- relative performance evaluation (1)
- relative performance feedback (1)
- rent seeking (1)
- renting vs. owning home (1)
- repeat sale (1)
- repeated games (1)
- replication (1)
- repo market (1)
- reporting (1)
- reproduction number (1)
- resilience (1)
- resiliency (1)
- resource boom (1)
- responsibility (1)
- retail investors (1)
- retained earnings (1)
- retention (1)
- retirement expectations (1)
- retirement plan (1)
- retirement planning (1)
- retirement policies (1)
- retirement preparation (1)
- return expectations (1)
- reversals (1)
- reverse mortgage (1)
- risk perception (1)
- risk preference (1)
- risk spillovers (1)
- risk-based capital (1)
- risk-sharing (1)
- risk-taking channel of monetary policy (1)
- risk-taking incentives (1)
- robust decision theory (1)
- robust inference (1)
- robust monetary policy (1)
- robustness (1)
- rules (1)
- rules vs discretion (1)
- salience (1)
- saving behavior (1)
- saving puzzles (1)
- savings accounts (1)
- savings and wealth accumulation (1)
- say-on-pay (1)
- scanner price data (1)
- scarring effects (1)
- school closures (1)
- seasonal affective disorder (SAD) (1)
- seasonality (1)
- second-order dependence (1)
- secrecy (1)
- secular stagnation (1)
- securities (1)
- securities law and regulation (1)
- securities lending (1)
- securities markets (1)
- securities trading (1)
- securitization (1)
- selection (1)
- selection bias (1)
- self-control (1)
- semi-parametric estimation (1)
- sensitivity (1)
- separating equilibrium (1)
- severance pay caps (1)
- severity (1)
- shale oil (1)
- shareholder engagement (1)
- shareholder wealth (1)
- shareholderism (1)
- shifting endpoint (1)
- shocks (1)
- short-sale constraints (1)
- short-selling (1)
- simple rules (1)
- simultaneity (1)
- single point of entry (1)
- skill (1)
- skill-biased technological change (1)
- slumps (1)
- small and medium enterprises (1)
- smoothing (1)
- sniping (1)
- social (1)
- social centralization (1)
- social dilemma (1)
- social distance (1)
- social identity (1)
- social impact (1)
- social impact bonds (1)
- social networks (1)
- social norm (1)
- social security claiming (1)
- socialist education (1)
- socially responsible consumers (1)
- soft information (1)
- soft law (1)
- solvency shocks (1)
- sophistication (1)
- source dependence (1)
- sovereign bond markets (1)
- sovereign bond risk premiums (1)
- sovereign debt (1)
- sovereign debt litigation (1)
- sovereign debt restructuring (1)
- sovereign debt standstill (1)
- sovereign rating (1)
- sovereignbank linkages (1)
- soziale Marktwirtschaft (1)
- specificity (1)
- spectral methods (1)
- speculative trading (1)
- spending cuts (1)
- spillovers (1)
- spot covariance (1)
- spread premium (1)
- sset pricing (1)
- staatliche Sozialversicherung (1)
- stability (1)
- stability of equilibria (1)
- stabilization (1)
- stable convergence (1)
- stakeholder (1)
- stakeholder governance (1)
- staleness (1)
- standard setting (1)
- state (1)
- state dependence (1)
- state dependency (1)
- state-contingent contracts (1)
- state-dependent sensitivity value-at-risk (SDSVaR) (1)
- state-owned enterprises (1)
- state-space model (1)
- statement indicators (1)
- stationarity (1)
- statistical risk measurement (1)
- statistical testing (1)
- statistics (1)
- stealth trading (1)
- stewardship codes (1)
- sticky expectations (1)
- stochastic control (1)
- stock buybacks (1)
- stock demand (1)
- stock market crisis (1)
- stock market investment (1)
- stock market nonparticipation (1)
- stock market reaction (1)
- stock market volatility (1)
- stock ownership (1)
- stock pricing (1)
- stock repurchases (1)
- stock return expectations (1)
- stocks (1)
- storage (1)
- storage demand (1)
- strategic complementarity (1)
- strategic interaction of regulators (1)
- strategic trading (1)
- strategy review (1)
- stress test (1)
- structural change (1)
- structural estimation (1)
- structural scenario analysis (1)
- structured products (1)
- strukturelle Reformen (1)
- subjective expectations (1)
- subordinated debt (1)
- substitution (1)
- sunspots (1)
- super-elasticity (1)
- supervision (1)
- supervisory intervention (1)
- supply chain (1)
- survey (1)
- survey analysis (1)
- survey expectations (1)
- survey experiments (1)
- survey forecasts (1)
- sustainability KPIs (1)
- sustainable investments (1)
- systemic importance (1)
- systemic risk analysis (1)
- systemic risk contribution (1)
- systemic risk fund (1)
- systemic risk network (1)
- systemic risk, too-interconnected-to-fail (1)
- säkulare Stagnation (1)
- tail dependence (1)
- tail measure (1)
- talent, learning (1)
- tanker (1)
- targets (1)
- taste heterogeneity (1)
- tax (1)
- tax arbitrage (1)
- tax clientele effects (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)
- technical and fundamental trading (1)
- technological growth (1)
- technology diffusion (1)
- temperature (1)
- temperature shocks (1)
- temporary equilibrium (1)
- term premia (1)
- term structure of interest (1)
- term structure of price expectations (1)
- test cases (1)
- text analysis (1)
- textual analysis (1)
- threshold vector auto-regressive models (1)
- tight oil (1)
- time charter (1)
- time dependency (1)
- time inconsistency (1)
- time series momentum (1)
- time-varying natural rate (1)
- time-varying parameter (1)
- time-varying risk premia (1)
- time-varying systemic risk contribution (1)
- timing (1)
- topic modelling (1)
- total connectedness (1)
- total directional connect- edness (1)
- trade (1)
- trade signaling (1)
- trading (1)
- trading activity (1)
- trading pause (1)
- trading process (1)
- trading rules (1)
- trading strategies (1)
- transaction costs (1)
- transactions (1)
- transition countries (1)
- transition risk (1)
- transmission mechanism (1)
- treasury auctions (1)
- treatment capacity (1)
- trend chasing (1)
- trend inflation (1)
- trend-cycle decomposition (1)
- troika (1)
- trust (1)
- trust driven expectations (1)
- trust evolutionary games (1)
- trust game (1)
- trust games (1)
- tunneling (1)
- twin study (1)
- two-pillar system (1)
- tâtonnement (1)
- uncertainty aversion (1)
- unconfirmed cases (1)
- underinvestment (1)
- unemployment insurance (1)
- universal banking (1)
- updating (1)
- utility dividends (1)
- utility functions (1)
- validation (1)
- valuation (1)
- valuation adjustment (1)
- valuation discount (1)
- valuation ratios (1)
- value at risk (1)
- value-at-risk (1)
- values (1)
- variable annuity (1)
- variance decomposition (1)
- variance risk premium (1)
- vector autoregression (1)
- vector error correction model (1)
- vector-autoregression (1)
- vektorautoregressive Modelle (1)
- venture capital and bank financing (1)
- venture capitalism (1)
- venture funding (1)
- vertical differentiation (1)
- vertical fiscal imbalances (1)
- vignette survey method (1)
- volatility estimation (1)
- volatility forecasting (1)
- volatility of volatility (1)
- voyage (1)
- vulture creditors (1)
- wage hump (1)
- wages (1)
- war (1)
- waterbed effect (1)
- weak identification (1)
- wealth effects (1)
- weather (1)
- welfare costs (1)
- welfare effects (1)
- welfare state (1)
- wholesale shocks (1)
- winner's curse (1)
- worker-firm panels (1)
- workforce (1)
- working hours (1)
- workout (1)
- world interest rates (1)
- yen (1)
- yield spreads (1)
- z-Transform (1)
- zero returns (1)
- zero-interest-rate bound (1)
- fiscal multipliers (1)
- Ökonometrisches Modell (1)
- Übernahmeangebot (1)
- ΔCoVaR (1)
- financial literacy (1)
Institute
- Center for Financial Studies (CFS) (1646)
- Wirtschaftswissenschaften (1161)
- Sustainable Architecture for Finance in Europe (SAFE) (791)
- House of Finance (HoF) (727)
- Institute for Monetary and Financial Stability (IMFS) (112)
- Rechtswissenschaft (49)
- Foundation of Law and Finance (42)
- Institute for Law and Finance (ILF) (8)
- Frankfurt MathFinance Institute (FMFI) (3)
- E-Finance Lab e.V. (1)
Modeling short-term interest rates as following regime-switching processes has become increasingly popular. Theoretically, regime-switching models are able to capture rational expectations of infrequently occurring discrete events. Technically, they allow for potential time-varying stationarity. After discussing both aspects with reference to the recent literature, this paper provides estimations of various univariate regime-switching specifications for the German three-month money market rate and bivariate specifications additionally including the term spread. However, the main contribution is a multi-step out-of-sample forecasting competition. It turns out that forecasts are improved substantially when allowing for state-dependence. Particularly, the informational content of the term spread for future short rate changes can be exploited optimally within a multivariate regime-switching framework.
Collateral, default risk, and relationship lending : an empirical study on financial contracting
(2000)
This paper provides further insights into the nature of relationship lending by analyzing the link between relationship lending, borrower quality and collateral as a key variable in loan contract design. We used a unique data set based on the examination of credit files of five leading German banks, thus relying on information actually used in the process of bank credit decision-making and contract design. In particular, bank internal borrower ratings serve to evaluate borrower quality, and the bank's own assessment of its housebank status serves to identify information-intensive relationships. Additionally, we used data on workout activities for borrowers facing financial distress. We found no significant correlation between ex ante borrower quality and the incidence or degree of collateralization. Our results indicate that the use of collateral in loan contract design is mainly driven by aspects of relationship lending and renegotiations. We found that relationship lenders or housebanks do require more collateral from their debtors, thereby increasing the borrower's lock-in and strengthening the banks' bargaining power in future renegotiation situations. This result is strongly supported by our analysis of the correlation between ex post risk, collateral and relationship lending since housebanks do more frequently engage in workout activities for distressed borrowers, and collateralization increases workout probability. First version: March 12, 1999
Die Betreuer am neuen Markt sollen die Effizienz des Handels durch Bereitstellung zusätzlicher Liquidität erhöhen. Die vorliegende Studie untersucht den Liquiditätsbeitrag der Betreuer in zwei aufeinanderfolgenden Jahren. Die Beteiligung der Betreuer am Umsatz des Marktes hat im beobachteten Zeitraum deutlich abgenommen. Ihre Orderlimits und -volumina hingegen haben die Markttiefe erhöht. Weiterhin zeigt sich, daß die Betreuer sowohl in liquiditätsschwachen Titeln als auch in liquiditätsschwachen Marktphasen zur Steigerung der Liquidität beigetragen haben.
We analyze the role of different kinds of primary and secondary market interventions for the government's goal to maximize its revenues from public bond issuances. Some of these interventions can be thought of as characteristics of a "primary dealer system". After all, we see that a primary dealer system with a restricted number of participants may be useful in case of only restricted competition among sufficiently heterogeneous market makers. We further show that minimum secondary market turnover requirements for primary dealers with respect to bond sales seem to be in general more adequate than the definition of maximum bid-ask-spreads or minimum turnover requirements with respect to bond purchases. Moreover, official price management operations are not able to completely substitute for a system of primary dealers. Finally it should be noted that there is in general no reason for monetary compensations to primary dealers since they already possess some privileges with respect to public bond auction.
Frankfurts Position im internationalen Finanzplatzwettbewerb : eine ressourcenorientierte Analyse
(1999)
Der vorliegende Aufsatz stellt die Vorgehensweise und die wichtigsten Ergebnisse einer internationalen Finanzplatzstudie vor, die im Jahre 1998 im Auftrag des Center for Financial Studies (Frankfurt am Main) durchgeführt wurde. Ziel dieser Studie war es, aus der Analyse wichtiger Finanzplatzressourcen und den Wechselwirkungen zwischen den unterschiedlichen Ressourcen Rückschlüsse auf Frankfurts Position im internationalen Finanzplatzwettbewerb zu ziehen. Aus ressourcenorientierter Sicht (Resource-Based-View) konnte gezeigt werden, daß der Finanzplatz Frankfurt einerseits größere Wettbewerbsnachteile gegenüber den Finanzzentren New York und London aufweist, die kurz- und mittelfristig kaum aufholbar sind. Andererseits besitzt der Finanzplatz Frankfurt Wettbewerbsvorteile gegenüber den Finanzzentren Paris und Tokyo. Diese sind aus der Sicht Frankfurts kurz- bis mittelfristig verteidigbar. Im Gegensatz zu den Wettbewerbsnachteilen Frankfurts im Vergleich zu den angelsächsischen Finanzplätzen fallen die Wettbewerbsvorteile Frankfurts gegenüber Paris und Tokyo aber deutlich geringer aus.
This paper considers the desirability of the observed tendency of central banks to adjust interest rates only gradually in response to changes in economic conditions. It shows, in the context of a simple model of optimizing private-sector behavior, that such inertial behavior on the part of the central bank may indeed be optimal, in the sense of minimizing a loss function that penalizes inflation variations, deviations of output from potential, and interest-rate variability. Sluggish adjustment characterizes an optimal policy commitment, even though no such inertia would be present in the case of a reputationless (Markovian) equilibrium under discretion. Optimal interest-rate feedback rules are also characterized, and shown to involve substantial positive coefficients on lagged interest rates. This provides a theoretical explanation for the numerical results obtained by Rotemberg and Woodford (1998) in their quantitative model of the U.S. economy.
This paper analyses two reasons why inflation may interfere with price adjustment so as to create inefficiencies in resource allocation at low rates of inflation. The first argument is that the higher the rate of inflation the lower the likelihood that downward nominal rigidities are binding (the Tobin argument) which implies a non-linear Phillips-curve. The second argument is that low inflation strengthens nominal price rigidities and thus impairs the flexibility of the price system resulting in a less efficient resource allocation. It is argued that inflation can be too low from a welfare point of view due to the presence of nominal rigidities, but the quantitative importance is an open question.
As inflation rates in the United States decline, analysts are asking if there are economic reasons to hold the rates at levels above zero. Previous studies of whether inflation "greases the wheels" of the labor market ignore inflation's potential for disrupting wage patterns in the same market. This paper outlines an institutionally-based model of wage-setting that allows the benefits of inflation (downward wage flexibility) to be separated from disruptive uncertainty about inflation rate (undue variation in relative prices). Our estimates, using a unique 40-year panel of wage changes made by large mid-western employers, suggest that low rates of inflation do help the economy to adjust to changes in labor supply and demand. However, when inflation's disruptive effects are balanced against this benefit the labor market justification for pursuing a positive long-term inflation goal effectively disappears.
Since 1990, a number of countries have adopted inflation targeting as their declared monetary strategy. Interpretations of the significance of this movement, however, have differed widely. To some, inflation targeting mandates the single-minded, rule-like pursuit of price stability without regard for other policy objectives; to others, inflation targeting represents nothing more than the latest version of cheap talk by central banks unable to sustain monetary commitments. Advocates of inflation targeting, including the adopting central banks themselves, have expressed the view that the efforts at transparency and communication in the inflation targeting framework grant the central bank greater short-run flexibility in pursuit of its long-run inflation goal. This paper assesses whether the talk that inflation targeting central banks engage in matters to central bank behavior, and which interpretation of the strategy is consistent with that assessment. We identify five distinct interpretations of inflation targeting, consistent with various strands of the current literature, and identify those interpretations as movements between various strategies in a conventional model of time-inconsistency in monetary policy. The empirical implications of these interpretations are then compared to the response of central banks to movements in inflation of three countries that adopted inflation targets in the early 1990s: The United Kingdom, Canada, and New Zealand. For all three, the evidence shows a break in the behavior of inflation consistent with a strengthened commitment to price stability. In no case, however, is there evidence that the strategy entails a single-minded pursuit of the inflation target. For the U.K., the results are consistent with the successful implementation the optimal state-contingent rule, thereby combining flexibility and credibility; similarly, New Zealand's improved inflation performance was achieved without a discernable increase in counter-inflationary conservatism. The results for Canada are less clear, perhaps reflecting the broader fiscal and international developments affecting the Canadian economy during this period.
Derivatives usage in risk management by U.S. and German non-financial firms : a comparative survey
(1998)
This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non-financial firms and a 1997 companion survey on German non-financial firms. It is not a mere comparison of the results of both studies but a comparative study, drawing a comparable subsample of firms from the US study to match the sample of German firms on both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of usage across industry and size groupings is comparable across the two countries. In both countries, foreign currency derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. Usage rates across all three classes of derivatives are higher for German firms than US firms. In contrast to the similarities, firms in the two countries differ notably on issues such as the primary goal of hedging, their choice of instruments, and the influence of their market view when taking derivative positions. These differences appear to be driven by the greater importance of financial accounting statements in Germany than the US and stricter German corporate policies of control over derivative activities within the firm. German firms also indicate significantly less concern about derivative related issues than US firms, which appears to arise from a more basic and simple strategy for using derivatives. Finally, among the derivative non-users, German firms tend to cite reasons suggesting derivatives were not needed whereas US firms tend to cite reasons suggesting a possible role for derivatives, but a hesitation to use them for some reason.
The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The paper provides a general conceptual discussion of monetary policy rules, attempts to clarify the essential characteristics of inflation targeting, compares inflation targeting to the other monetary policy rules, and draws some conclusions for the monetary policy of the European system of Central Banks.
Despite the relevance of credit financing for the profit and risk situation of commercial banks only little empirical evidence on the initial credit decision and monitoring process exists due to the lack of appropriate data on bank debt financing. The present paper provides a systematic overview of a data set generated during the Center for Financial Studies research project on "Credit Management" which was designed to fill this empirical void. The data set contains a broad list of variables taken from the credit files of five major German banks. It is a random sample drawn from all customers which have engaged in some form of borrowing from the banks in question between January 1992 and January 1997 and which meet a number of selection criteria. The sampling design and data collection procedure are discussed in detail. Additionally, the project's research agenda is described and some general descriptive statistics of the firms in our sample are provided.
We studied information and interaction processes in six lending relationships between a universal bank and medium sized firms. The study is based on the credit files of the respective firms. If no problems occur in these lending relationships, bank monitoring is based mainly on cheap, retrospective and internal data. In case of distress, more expensive, prospective and external information is used. The level of monitoring and the willingness to renegotiate the lending relationship depends on what the lending officers can learn about the future prospects of the firm from the behaviour of the debtors. We identify both signalling and bonding activities. Such learning from past behaviour seems to allow monitoring at low cost, whereas the direct observation of the firm's investment outlook seems to be very costly. Also, too much knowledge about the firm's investments might leave the bank in a very strong bargaining position and distort investment incentives. Therefore, the traditional view of credit assessment as observation of the quality of a borrower's investment programme needs to be reconsidered.
Shares trading in the Bolsa mexicana de Valores do not seem to react to company news. Using a sample of Mexican corporate news announcements from the period July 1994 through June 1996, this paper finds that there is nothing unusual about returns, volatility of returns, volume of trade or bid-ask spreads in the event window. This suggests one of five possibilities: our sample size is small; or markets are inefficient; or markets are efficient but the corporate news announcements are not value-relevant; or markets are efficient and corporate news announcements are value-relevant, but they have been fully anticipated; or markets are efficient and corporate news announcements are value-relevant, but unrestricted insider trading has caused prices to fully incorporate the information. The evidence supports the last hypothesis. The paper thus points towards a methodology for ranking emerging stock markets in terms of their market integrity, an approach that can be used with the limited data available in such markets.
No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those who see the euro as the advent of a newly open, large, and efficient regime which will lead to improvements in European and in particular in German competitiveness; those who see the euro as a weakening of the German commitment to price stability. From a broader macroeconomic perspective, however, it is clear that EMU is unlikely to cause directly any meaningful change either for the better in Standort Deutschland or for the worse in the German price stability. There is ample evidence that changes in monetary regimes (so long as non leaving hyperinflation) induce little changes in real economic structures such as labor or financial markets. Regional asymmetries of the sorts in the EU do not tend to translate into monetary differences. Most importantly, there is no good reason to believe that the ECB will behave any differently than the Bundesbank.
Where do we stand in the theory of finance? : a selective overview with reference to Erich Gutenberg
(1998)
For the past 20 years, financial markets research has concerned itself with issues related to the evaluation and management of financial securities in efficient capital markets and with issues of management control in incomplete markets. The following selective overview focuses on key aspects of the theory and empirical experience of management control under conditions of asymmetric information. The objective is examine the validity of the recently advanced hypothesis on the myths of corporate control. The present overview is based on Gutenberg's position that there exists a discrete corporate interest, as distinct from and separate from the interests of the shareholders or other stakeholders. In the third volume of Grundlagen der BWL: Die Finanzen, published in 1969, this position of Gutenberg's is coupled with an appeal for a so-called financial equilibrium to be maintained. Not until recently have models grounded in capital market theory been developed which also allow for a firm's management to exercise autonomy vis-à-vis its stakeholder. This paper was prepared for the Erich Gutenberg centenary conference on December 12 and 13, 1997 in Cologne.
Banks increasingly recognize the need to measure and manage the credit risk of their loans on a portfolio basis. We address the subportfolio "middle market". Due to their specific lending policy for this market segment it is an important task for banks to systematically identify regional and industrial credit concentrations and reduce the detected concentrations through diversification. In recent years, the development of markets for credit securitization and credit derivatives has provided new credit risk management tools. However, in the addressed market segment adverse selection and moral hazard problems are quite severe. A potential successful application of credit securitization and credit derivatives for managing credit risk of middle market commercial loan portfolios depends on the development of incentive-compatible structures which solve or at least mitigate the adverse selection and moral hazard problems. In this paper we identify a number of general requirements and describe two possible solution concepts.
During the last years the lending business has come under considerable competitive pressure and bank managers often express concern regarding its profitability vis-a-vis other activities. This paper tries to empirically identify factors that are able to explain the financial performance of bank lending activities. The analysis is based on the CFS-data-set that has been collected in 1997 from 200 medium-sized firms. Two regressions are performed: The first is directed towards relationships between the interest rate premiums and various determining factors, the second aims at detecting relationships between those factors and the occurrence of several types of problems during the course of a credit engagement. Furthermore, the results of both regressions are used to test theoretical hypotheses regarding the impact of certain parameters on credit terms and distress probabilities. The findings are somewhat “puzzling“: First, the rating is not as significant as expected. Second, credit contracts seem to be priced lower for situations with greater risks. Finally, the results do not fully support any of three hypotheses that are often advanced to describe the role of collateral and covenants in credit contracts.
The German financial market is often characterized as a bank-based system with strong bank-customer relationships. The corresponding notion of a housebank is closely related to the theoretical idea of relationship lending. It is the objective of this paper to provide a direct comparison between housebanks and "normal" banks as to their credit policy. Therefore, we analyze a new data set, representing a random sample of borrowers drawn from the credit portfolios of five leading German banks over a period of five years. We use credit-file data rather than industry survey data and, thus, focus the analysis on information that is directly related to actual credit decisions. In particular, we use bank-internal borrower rating data to evaluate borrower quality, and the bank's own assessment of its housebank status to control for information-intensive relationships.
This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local idiosyncracies (e.g. the Wechsels in Germany) and they might be allowed to do so by promoting the use of so-called tier two assets under the common monetary policy. Moreover, a host of national regulations (prudential and fiscal) will make assets expressed in euro imperfect substitutes across borders. Prudential control will also continue to be handled differently from country to country. In the long run these national idiosyncracies cannot survive competitive pressures in the euro area. The year 1999 will thus see the beginning of a process of unification of financial markets that will be irresistible in the long run, but might still take some time to complete.