Refine
Year of publication
- 2020 (220) (remove)
Document Type
- Working Paper (91)
- Part of Periodical (90)
- Article (33)
- Book (2)
- Contribution to a Periodical (2)
- Doctoral Thesis (1)
- Preprint (1)
Has Fulltext
- yes (220)
Is part of the Bibliography
- no (220)
Keywords
- Capital Markets Union (25)
- Financial Markets (25)
- ECB (23)
- Financial Institutions (13)
- Banking Regulation (12)
- Banking Union (10)
- Comments disabled (10)
- Coronavirus (10)
- ESMA (10)
- Macro Finance (10)
- coronavirus (10)
- Banking Supervision (9)
- EBA (8)
- Household Finance (8)
- Monetary Policy (8)
- Consumers (6)
- Fiscal Policy (6)
- Inflation (6)
- Low Interest Rates (6)
- Financial Stability (5)
- Systemic Risk (5)
- Clearing (4)
- Covid-19 (4)
- Federal Reserve (4)
- Household Crisis Barometer (4)
- Household income (4)
- Investments (4)
- Private Investment (4)
- Sustainable Finance (4)
- Algorithmic Discrimination (3)
- Bitcoin (3)
- COVID-19 (3)
- Household finance (3)
- Investor Protection (3)
- Quantitative Easing (3)
- banks (3)
- financial stability (3)
- oil price (3)
- Algorithmic Feedback Loops (2)
- Annuity (2)
- Artificial Intelligence (2)
- Bank Lending (2)
- Bayesian Analysis (2)
- Business Cycle (2)
- Collateral Policy (2)
- Corporate Bonds (2)
- Corporate Debt Structure (2)
- Corporate Finance (2)
- DSGE Estimation (2)
- Derivatives (2)
- Digital currency (2)
- Digitalization (2)
- Disclosure (2)
- EDIS (2)
- EZB (2)
- Eligibility premium (2)
- Euro (2)
- Financial stability (2)
- Fintech (2)
- Geldpolitik (2)
- Hamiltonian Monte Carlo (2)
- Inflationsmessung (2)
- Innovation (2)
- Interest Rates (2)
- International Economics (2)
- Privacy (2)
- Public Private Partnership (2)
- Retail investors (2)
- Self-control (2)
- Trading (2)
- Wirecard (2)
- Zentralbankpolitik (2)
- Zero Lower Bound (2)
- banking (2)
- corporate finance (2)
- crude oil (2)
- expectations (2)
- financial markets (2)
- fiscal policy (2)
- gasoline price (2)
- inequality (2)
- institutions (2)
- monetary policy (2)
- public debt (2)
- recapitalization (2)
- risk-taking (2)
- short-sales (2)
- stock market (2)
- 401(k) plan (1)
- APCO (1)
- Advertising (1)
- Age (1)
- Aggregate outcomes (1)
- Aging society (1)
- Albania (1)
- Albanija (1)
- Allocative Effciency (1)
- Altruism (1)
- Amplification (1)
- Annuities (1)
- Apache Spark (1)
- App (1)
- Appraisal rights (1)
- Artificial Intelligence, (1)
- Asset Price Bubbles (1)
- Asset allocation (1)
- Auditing (1)
- Bank regulation (1)
- Bankenunion (1)
- Banking Crisis (1)
- Banking Supervision, (1)
- Banks (1)
- Batch Learning (1)
- Bayesian Estimation (1)
- Bayesian inference (1)
- Behandlungskapazität (1)
- Beitragsgarantien (1)
- Board of Directors (1)
- Business Cycles (1)
- Business lending (1)
- CMU (1)
- COVID-19 news (1)
- CSR (1)
- Capital theory (1)
- China (1)
- Choice experiments (1)
- CoVaR (1)
- Common Agricultural Policy (1)
- Comovements (1)
- Consumer credit (1)
- Consumption (1)
- Corona Bonds (1)
- Corona-Krise (1)
- Corona-Steuerhilfegesetz (1)
- Corporate Social Responsibility (1)
- Corporate governance (1)
- Corporate law (1)
- Covid-19-Crisis (1)
- Creditor Rights (1)
- Cryptocurrencies (1)
- Datenschutz (1)
- Default (1)
- Demand estimation (1)
- Deposit Insurance (1)
- Digitalisierung (1)
- Digitization (1)
- Direct estimation (1)
- Discount Rates (1)
- Display advertising (1)
- Distributed Computing (1)
- Dividends (1)
- Drag-along rights (1)
- Dunkelziffer (1)
- Duration of Civil Proceedings (1)
- Dynamic Pricing (1)
- Dynamic pricing (1)
- ESG (1)
- ESG Rating Agencies (1)
- Econometrics (1)
- Economic Governance (1)
- Economic and Monetary Union (1)
- Economics (1)
- Ecosystems (1)
- Effective lower bound (1)
- Einlagensicherung (1)
- Enforcement (1)
- Entrepreneurship (1)
- Entry and exit (1)
- Epidemiologic model (1)
- Epidemiologisches Modell (1)
- Equity fund (1)
- European Commission (1)
- European Green Deal (1)
- Eurozone (1)
- Excess sensitivity (1)
- Expectation formation (1)
- Expected credit losses (1)
- Experimental Economics (1)
- Experts (1)
- Fair value (1)
- Fair value accounting (1)
- Feedback loop (1)
- FinTech (1)
- Finance and Employment (1)
- Financial Crises (1)
- Financial Integration (1)
- Financial Reporting (1)
- Financial crisis (1)
- Financial literacy (1)
- Financing Constraints (1)
- Financing Costs (1)
- Fire Sales (1)
- Firm value (1)
- Fiscal Policies (1)
- Fiscal Solidarity (1)
- Fiscal Stimulus Program (1)
- Fixed-Income (1)
- Frictions (1)
- GDPR (1)
- GMM Estimation (1)
- Game Theory (1)
- Gewerbesteuer (1)
- Great Recession (1)
- Growth (1)
- Guidelines (1)
- Haushaltskrisenbarometer (1)
- Hawkes processes (1)
- Helicoptergeld (1)
- Herdenimmunität (1)
- High-Level-Forum (1)
- Household Consumption (1)
- Hybrid Markets (1)
- Hypothetical bias (1)
- IV estimation (1)
- Identification (1)
- Incentives (1)
- Incurred loss model (1)
- Individual investors (1)
- Inequality (1)
- Infektionsdynamik (1)
- Information Frictions (1)
- Infrastructure (1)
- Interdealer Brokerage (1)
- Interim Report (1)
- Internal Controls (1)
- Investor behavior (1)
- Job Match Quality (1)
- Kinderbonus (1)
- Konjunkturpolitik (1)
- Labor Income Risk (1)
- Law (1)
- Law Enforcement (1)
- Law and Finance (1)
- Law and economics (1)
- Law and finance (1)
- Lebenszeitverlust (1)
- Leverage (1)
- Life cycle saving (1)
- Life insurance (1)
- Life-Cycle Model (1)
- Linkages (1)
- Liquidity Facilities (1)
- Loan loss accounting (1)
- Loan losses (1)
- Longevity risk (1)
- Machine learning (1)
- Machine teaching (1)
- Macroeconomics (1)
- Market Access (1)
- Market Integrity (1)
- Market Microstructure (1)
- Market Oversight (1)
- Market research (1)
- Marxian economics (1)
- Mehrwertsteuersenkung (1)
- Mitigation (1)
- Mundellian trilemma (1)
- NAV-price-spread (1)
- Nascent ventures (1)
- New product development processes (1)
- Niedrigzinsen (1)
- Nonlinear Bayesian Estimation (1)
- OTC Markets (1)
- Offline advertising (1)
- Open Access (1)
- Open-end real estate funds (1)
- Optimal matching techniques (1)
- Paid search advertising (1)
- Pandemic (1)
- Patents (1)
- Persistent and Transitory Income Shocks (1)
- Pharma Management (1)
- Pokémon Go (1)
- Policy Analysis (1)
- Policy Effects (1)
- Policy measures in the EU (1)
- Preference Stability (1)
- Preference for early resolution of uncertainty (1)
- Preisdifferenzierung (1)
- Preisdiskriminierung (1)
- Price differentiation (1)
- Price discrimination (1)
- Pricing (1)
- Private Altersvorsorge (1)
- Private equity (1)
- Private ordering (1)
- Privatsphäre (1)
- Productivity and Growth (1)
- Profits and distribution (1)
- Prudential filter (1)
- Prudential oversight (1)
- Public-Private Partnerships (1)
- Quality Control (1)
- Quantitative easing (1)
- Reallocation (1)
- Referrals (1)
- Regulation (1)
- Regulatory Affairs (1)
- Reproduktionszahlen (1)
- Research & Development (1)
- Research and market linkages (1)
- Resolution (1)
- Retirement (1)
- Retirement Welfare (1)
- Riester-Rente (1)
- Risk Attitudes (1)
- Risk Aversion (1)
- Risk Pooling (1)
- Risk Preferences (1)
- Risk sharing (1)
- SMART targets (1)
- SPR (1)
- Sales (1)
- Schadensindex (1)
- Search Frictions (1)
- Secondary market (1)
- Security (1)
- Sensitivität (1)
- Sentiment Analysis (1)
- Sequence analyses (1)
- Single question approach (1)
- Skewness (1)
- Social Networks (1)
- Social System (1)
- Social signaling (1)
- Sovereign credit risk (1)
- Spezifität (1)
- Sraffian economics (1)
- Stages (1)
- Start-ups (1)
- Stay-Home (1)
- Stock Markets (1)
- Stock market wealth (1)
- Stockholding (1)
- Structured retail products (1)
- Supervisory Achitecture (1)
- Sustainable Investments (1)
- Time Preferences (1)
- Tontines (1)
- Trade sales (1)
- Trading restrictions (1)
- Transferzahlungen (1)
- Transformation problem (1)
- Trustworthiness (1)
- Unconventional Monetary policy (1)
- VLCC (1)
- Venture capital (1)
- Venue Choice (1)
- Verdopplungszeit (1)
- Verlustrücktrag (1)
- Wealth shocks (1)
- Willingness to pay (1)
- abduction (1)
- advertising (1)
- agency (1)
- agriculture (1)
- ambiguity (1)
- anchor (1)
- argumentation (1)
- asset pricing (1)
- asset purchases (1)
- background risk (1)
- bailout (1)
- bank capital (1)
- biodiversity (1)
- biometric risks (1)
- bounded rationality (1)
- bunker fuel (1)
- business equity (1)
- capital liquidations (1)
- cartel damages (1)
- catastrophe bond (1)
- central bank independence (1)
- central bank information effect (1)
- centralisation (1)
- climate change (1)
- cloud service provider (1)
- cognitive conflict (1)
- commodity (1)
- competition (1)
- conflict (1)
- consumption-portfolio decisions (1)
- content analysis (1)
- continuous vocational education and training (1)
- continuous vocational education training (1)
- corona bonds (1)
- corona crisis (1)
- corporate governance (1)
- credit funds (1)
- critical thinking (1)
- cross-border political access (1)
- cross-section of expected stock returns (1)
- cross-section of stock returns (1)
- culture (1)
- decision making (1)
- deep learning (1)
- developers (1)
- diffusion of norms (1)
- directors (1)
- disadvantaged groups (1)
- discrimination (1)
- distress (1)
- diversity (1)
- doubling time (1)
- electricity (1)
- emergency loans (1)
- emotional exhaustion (1)
- employees (1)
- employers (1)
- energy (1)
- entrepreneurship (1)
- equity (1)
- euro area (1)
- evidence-based policy (1)
- exchange rate (1)
- exchange rate response to monetary policy (1)
- experiences (1)
- exports (1)
- faultlines (1)
- fiduciary (1)
- financial decision support (1)
- financial disasters (1)
- financial frictions (1)
- financial stablity (1)
- firm value (1)
- flash crashes (1)
- forward guidance (1)
- fragmentation (1)
- general equilibrium (1)
- global real activity (1)
- guideline catalog (1)
- herd immunity (1)
- high-frequency data (1)
- high-frequency traders (HFTs) (1)
- holdout litigation (1)
- household finance (1)
- household survey (1)
- household-portfolio shares (1)
- implied volatility (1)
- incidence (1)
- index of lost lifetime (1)
- individual investor (1)
- infection dynamics (1)
- inferential processes (1)
- inflation (1)
- influences of participation in CVET (1)
- informacijska asimetrija (1)
- informal CVET (1)
- information asymmetry (1)
- infrastructural power (1)
- institutional investors (1)
- intergenerational persistence (1)
- interoperability (1)
- interview study (1)
- jobseekers (1)
- joint inference (1)
- labor supply (1)
- law (1)
- legal transplants (1)
- limited attention (1)
- limits to arbitrage (1)
- liquidity (1)
- liquidity provision (1)
- loss function (1)
- loss index (1)
- losses (1)
- lump sum (1)
- market making (1)
- market rate of interest (1)
- market supervision (1)
- mean response function (1)
- median response function (1)
- missing disinflation (1)
- mobile augmented reality applications (1)
- modal model (1)
- monetary institutions (1)
- monetary law (1)
- monetary policy strategy (1)
- mortgages (1)
- multipledocument comprehension (1)
- multivariate analyses (1)
- non-bank financial intermediation (1)
- non-formal CVET (1)
- nostalgia (1)
- odločanje (1)
- oil demand elasticity (1)
- oil inventories (1)
- oil supply elasticity (1)
- online borrowing (1)
- online nakupovanje (1)
- online purchasing (1)
- online reasoning (1)
- open economy macro-finance modeling (1)
- optimal stopping (1)
- outgroup derogation (1)
- pandemic insurance (1)
- pandemics (1)
- passthrough (1)
- policy (1)
- policy intervention (1)
- policy measures in the EU (1)
- policy rules (1)
- positivity bias (1)
- posterior risk (1)
- predictability (1)
- prediction (1)
- price discovery (1)
- price stability (1)
- principles-based regulation (1)
- privacy concerns (1)
- privacy engineering (1)
- profits (1)
- proportionality (1)
- prudential supervision (1)
- public goods (1)
- public private partnership (1)
- quantitative easing (1)
- reasons and barriers (1)
- regulatory arbitrage (1)
- relative performance feedback (1)
- reproduction number (1)
- resiliency (1)
- retirement age (1)
- reverse mortgage (1)
- risk assessment (1)
- risk sharing (1)
- school closures (1)
- securities markets (1)
- security assessment (1)
- security self-assessment (1)
- sensitivity (1)
- severity (1)
- shadow banking (1)
- shareholderism (1)
- shipping (1)
- smart home (1)
- smart living (1)
- smart phones (1)
- smartphone apps (1)
- social identity (1)
- social norms (1)
- social security (1)
- sovereign debt litigation (1)
- sovereign debt restructuring (1)
- sovereign debt standstill (1)
- specificity (1)
- sset pricing (1)
- stakeholders (1)
- state (1)
- statistical testing (1)
- stewardship codes (1)
- storage (1)
- strain (1)
- strategies (1)
- strategy review (1)
- stress (1)
- structural VAR (1)
- subgroups (1)
- subsistence consumption (1)
- systemic risk (1)
- tanker (1)
- taxes (1)
- time charter (1)
- trading (1)
- trading behavior (1)
- treatment capacity (1)
- two-pillar system (1)
- uncertainty (1)
- unconfirmed cases (1)
- values (1)
- voyage (1)
- vulture creditors (1)
- wealth inequality (1)
- web of things (1)
- welfare (1)
Institute
- Wirtschaftswissenschaften (220) (remove)
Optimal investment decisions by institutional investors require accurate predictions with respect to the development of stock markets. Motivated by previous research that revealed the unsatisfactory performance of existing stock market prediction models, this study proposes a novel prediction approach. Our proposed system combines Artificial Intelligence (AI) with data from Virtual Investment Communities (VICs) and leverages VICs’ ability to support the process of predicting stock markets. An empirical study with two different models using real data shows the potential of the AI-based system with VICs information as an instrument for stock market predictions. VICs can be a valuable addition but our results indicate that this type of data is only helpful in certain market phases.
This article discusses the counterpart of interactive machine learning, i.e., human learning while being in the loop in a human-machine collaboration. For such cases we propose the use of a Contradiction Matrix to assess the overlap and the contradictions of human and machine predictions. We show in a small-scaled user study with experts in the area of pneumology (1) that machine-learning based systems can classify X-rays with respect to diseases with a meaningful accuracy, (2) humans partly use contradictions to reconsider their initial diagnosis, and (3) that this leads to a higher overlap between human and machine diagnoses at the end of the collaboration situation. We argue that disclosure of information on diagnosis uncertainty can be beneficial to make the human expert reconsider her or his initial assessment which may ultimately result in a deliberate agreement. In the light of the observations from our project, it becomes apparent that collaborative learning in such a human-in-the-loop scenario could lead to mutual benefits for both human learning and interactive machine learning. Bearing the differences in reasoning and learning processes of humans and intelligent systems in mind, we argue that interdisciplinary research teams have the best chances at tackling this undertaking and generating valuable insights.
Zur Reform der Einlagensicherung: Elemente einer anreizkompatiblen Europäischen Rückversicherung
(2020)
Bankeinlagen bis 100.000 Euro sind de jure überall im Euroraum gleichermaßen vor Verlusten geschützt. De facto hängt der Wert dieser gesetzlichen Haftungszusage unter anderem von der Ausstattung des nationalen Sicherungsfonds und der relativen Größe des Bankensektors in einer Volkswirtschaft ab. Um die Homogenität des Einlagenschutzes zu gewährleisten und die Bankenunion zu vollenden, bedarf es einer einheitlichen europäischen Einlagensicherung. Die bestehende implizite Risikoteilung im Euroraum ist ordnungspolitisch nicht wünschenswert. Ferner kann eine explizite und glaubwürdige Zweitsicherung Fehlanreize zur Übernahme exzessiver Risiken verhindern, bevor es zum Schadensfall kommt. Daher plädiert dieser Beitrag für ein zweistufiges, streng subsidiär organisiertes Rückversicherungsmodell: Nationale Erstversicherungen würden einen festgeschriebenen Teil, die europäische Rückversicherung nachrangig den Rest der Deckungssumme besichern. Die Rückversicherung gewährt diese Liquiditätshilfen in Form von Kassenkrediten. Weil die Haftung auf nationaler Ebene verbleibt, werden Risiken geteilt aber nicht vergemeinschaftet. Marktgerechte Prämien müssen nicht nur das individuelle Risikogewicht einer Bank sondern auch länderspezifische Risikofaktoren berücksichtigen. Zuletzt braucht der Rückversicherer umfangreiche Aufsichtsrechte, um die Zahlungsfähigkeit der Erstversicherer mit Hinblick auf die nationalen Haftungspflichten jederzeit sicherzustellen.
We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We use a normalization procedure that makes the pre-policy paths of the epidemic identical across regions. The procedure uncovers regional variation in the stage of the epidemic at the time of policy implementation. This variation delivers clean identification of the policy effect based on the epidemic path of a leading region that serves as a counterfactual for other regions. We apply our method to evaluate the effectiveness of the nationwide stay-home policy enacted in Spain against the Covid-19 pandemic. We find that the policy saved 15.9% of lives relative to the number of deaths that would have occurred had it not been for the policy intervention. Its effectiveness evolves with the epidemic and is larger when implemented at earlier stages.