Refine
Year of publication
- 2014 (2778) (remove)
Document Type
- Article (1080)
- Part of Periodical (358)
- Book (269)
- Working Paper (213)
- Contribution to a Periodical (173)
- Doctoral Thesis (168)
- Report (148)
- Review (146)
- Part of a Book (83)
- Conference Proceeding (50)
Language
- German (1390)
- English (1227)
- Croatian (70)
- Portuguese (28)
- French (19)
- Turkish (12)
- Multiple languages (10)
- Spanish (7)
- Bosnian (2)
- Danish (2)
Has Fulltext
- yes (2778) (remove)
Keywords
- Deutsch (38)
- Literatur (35)
- Rilke, Rainer Maria (35)
- Ukraine (24)
- USA (22)
- taxonomy (22)
- Deutschland (21)
- Russland (21)
- Benjamin, Walter (19)
- new species (19)
Institute
- Präsidium (355)
- Medizin (273)
- Gesellschaftswissenschaften (203)
- Wirtschaftswissenschaften (182)
- Center for Financial Studies (CFS) (146)
- Physik (134)
- Sustainable Architecture for Finance in Europe (SAFE) (101)
- Biowissenschaften (99)
- House of Finance (HoF) (99)
- Exzellenzcluster Die Herausbildung normativer Ordnungen (86)
On November 8, 2013, several members of the British House of Lords’ Subcommittee A conducted a hearing at the ECB in Frankfurt, Germany, on “Genuine Economic and Monetary Union and its Implications for the UK”. Professors Otmar Issing and Jan Pieter Krahnen were called as expert witnesses.
The testimony began with a general discussion on the elements considered necessary for a functioning internal market. Do economic union and monetary union require a fiscal union or even a political union, beyond the elements of the banking union currently being prepared? In this context, also the critique of the German current account surplus and the international expectations that Germany stimulate internal demand to support growth in crisis countries, were discussed.
With regard to the monetary union, the members of the subcommittee asked for an assessment of how European nations and the banking industry would have fared in the banking crisis that followed the Lehman collapse, had there not been a common currency. Given the important role that the ECB has played in the course of the crisis management, the members further asked for an evaluation of the OMT-program of the ECB and also if the monetary union is in need of common debt instruments, in order to provide the ECB with the possibility of buying EU liabilities, comparable to the Fed buying US Treasury bonds. Finally, the dual role of the ECB for monetary policy and banking supervision was an issue touched on by several questions.
In many cases, the dire situation of public finances calls into question the very soundness of sovereigns and prompts corrective actions with far-reaching consequences. In this context, European authorities responded with several measures on different fronts, for instance by passing the "Fiscal Compact", which entered into force on January 1, 2013. Of critical importance in this framework is the assessment of a country’s situation by way of statistical measures, in order to take corrective actions when called for according to the letter of the law. If these statistics are not correct, there is a risk of imposing draconian measures on countries that do not really need it.
Before the 2007–09 crisis, standard risk measurement methods substantially underestimated the threat to the financial system. One reason was that these methods didn’t account for how closely commercial banks, investment banks, hedge funds, and insurance companies were linked. As financial conditions worsened in one type of institution, the effects spread to others. A new method that more accurately accounts for these spillover effects suggests that hedge funds may have been central in generating systemic risk during the crisis.
Social impact bonds are a special type of bond whose purpose is to provide long term funds to projects with a social impact. Especially in the UK and in the US these bonds are increasingly being used to raise funds to finance government projects. Their return depends on the social improvements achieved. Especially in times of crisis, governments lack funds to prevent the social consequences of recessions. Faia argues that the European Union should develop an equivalent to the British Social Finance Ltd. to finance projects for social improvement.
Neither Northerners are willing to invest in a South they perceive as unwilling to undertake necessary structural reforms, nor are Southerners willing to invest in their countries in a climate of austerity and policy uncertainty imposed, in their view, by the North. This results in a vicious cycle of mistrust. However, as the author argues, big steps in the direction of reforms may provide just enough thrust to break out of this vicious cycle, propel southern countries – and especially Greece – to a much happier future, and promote the chances for more balanced economic performance in North and South.
Social Security rules that determine retirement, spousal, and survivor benefits, along with benefit adjustments according to the age at which these are claimed, open up a complex set of financial options for household decisions. These rules influence optimal household asset allocation, insurance, and work decisions, subject to life cycle demographic shocks, such as marriage, divorce, and children. Our model-based research generates a wealth profile and a low and stable equity fraction consistent with empirical evidence. We confirm predictions that wives will claim retirement benefits earlier than husbands, while life insurance is mainly purchased by younger men. Our policy simulations imply that eliminating survivor benefits would sharply reduce claiming differences by sex while dramatically increasing men’s life insurance purchases.
One of the motivations for establishing a European banking union was the desire to break the ties with between national regulators and domestic financial institutions in order to prevent regulatory capture. However, supervisory authority over the financial sector at the national level can also have valuable public benefits. The aim of this policy letter is to detail these public benefits in order to counter discussions that focus only on conflicts of interest. It is informed by an analysis of how financial institutions interacted with policy-makers in the design of national bank rescue schemes in response to the banking crisis of 2008. Using this information, it discusses the possible benefits of close cooperation between financial institutions and regulators and analyzes these in the wake of a European banking union.
The exposure to tobacco smoke during pregnancy is considered to be amongst the most harmful avoidable risk factors. In this scientometric and gender study scientific data on smoking and pregnancy was analyzed using a variety of objective scientometric methods like the number of scientific contributions, the number of citations and the modified h-index in combination with gender-specific investigations. Covering a time period from 1900 to 2012, publishing activities of 27,955 authors, institutions and countries, reception within the international scientific community and its reactions were analyzed and interpreted. Out of 10,043 publications the highest number of scientific works were published in the USA (35.5%), followed by the UK (9.9%) and Canada (5.3%). These nations also achieve the highest modified h-indices of 128, 79 and 62 and the highest citation rates of 41.4%, 8.6% and 5.3%, respectively. Out of 12,596 scientists 6,935 are female (55.1%), however they account for no more than 49.7% of publications (12,470) and 42.8% of citations (172,733). The highest percentage of female experts about smoking and pregnancy is found in Australasia (60.7%), while the lowest is found in Asia (41.9%). The findings of the study indicate an increase in gender equality as well as in quantity and quality of international scientific research about smoking and pregnancy in the future.
In this work we study basic properties of unstable particles and scalar hadronic resonances, respectively, within simple quantum mechanical and quantum field theoretical (effective) models. The term 'particle' is usually assigned to entities, described by physical theories, that are able to propagate over sufficiently large time scales (e.g. from a source to a detector) and hence could be identified in experiments - one especially should be able to measure some of their distinct properties like spin or charge. Nevertheless, it is well known that there exists a huge amount of unstable particles to which it seems difficult to allocate such definite values for their mass and decay width. In fact, for extremely short-lived members of that species, so called resonances, the theoretical description turns out to be highly complicated and requires some very interesting concepts of complex analysis.
In the first chapter, we start with the basic ideas of quantum field theory. In particular, we introduce the Feynman propagator for unstable scalar resonances and motivate the idea that this kind of correlation function should possess complex poles which parameterize the mass and decay width of the considered particle. We also brie
y discuss the problematic scalar sector in particle physics, emphasizing that hadronic loop contributions, given by strongly coupled hadronic intermediate states, dominate its dynamics. After that, the second chapter is dedicated to the method of analytic continuation of complex functions through branch cuts. As will be seen in the upcoming sections, this method is crucial in order to describe physics of scalar resonances because the relevant functions to be investigated (namely, the Feynman propagator of interacting quantm field theories) will also have branch cuts in the complex energy plane due to the already mentioned loop contributions. As is consensus among the physical community, the understanding of the physical behaviour of resonances requires a deeper insight of what is going on beyond the branch cut. This will lead us to the idea of a Riemann surface, a one-dimensional complex manifold on which the Feynman propagator is defined.
We then apply these concepts to a simple non-relativistic Lee model in the third chapter and demonstrate the physical implications, i.e., the motion of the propagator poles and the behaviour of the spectral function. Besides that, we investigate the time evolution of a particle described by such a model. All this will serve as a detailed preparation in order to encounter the rich phenomena occuring on the Riemann surface in quantum field theory. In the last chapter, we finally concentrate on a simple quantm field theoretical model which describes the decay of a scalar state into two (pseudo)scalar ones. It is investigated how the motion of the propagator poles is in
uenced by loop contributions of the two (pseudo)scalar particles. We perform a numerical study for a hadronic system involving a scalar seed state (alias the σ-meson) that couples to pions. The unexpected emergence of a putative stable state below the two-pion threshold is investigated and it is claeifieed under which conditions such a stable state appears.