Working Paper
Refine
Year of publication
Document Type
- Working Paper (2353) (remove)
Language
- English (2353) (remove)
Is part of the Bibliography
- no (2353)
Keywords
- Deutschland (115)
- USA (51)
- Geldpolitik (48)
- monetary policy (46)
- Schätzung (45)
- Europäische Union (43)
- Bank (38)
- Corporate Governance (36)
- Monetary Policy (31)
- Inflation (23)
- Sprachtypologie (23)
- corporate governance (22)
- Risikokapital (21)
- Venture Capital (21)
- Liquidity (20)
- Währungsunion (20)
- Haushalt (19)
- Kreditmarkt (19)
- Linguistik (19)
- Aktienmarkt (18)
- Großbritannien (18)
- Lambda-Kalkül (18)
- Börsenkurs (17)
- Insurance (17)
- Volatilität (17)
- household finance (17)
- Financial Crisis (16)
- Kreditrisiko (16)
- Portfoliomanagement (16)
- regulation (16)
- Digital Humanities (15)
- ECB (15)
- Household Finance (15)
- Japan (15)
- Banking Union (14)
- ESG (14)
- Formale Semantik (14)
- Germany (14)
- Going Public (14)
- Kontrastive Linguistik (14)
- financial crisis (14)
- insurance (14)
- systemic risk (14)
- COVID-19 (13)
- Covid-19 (13)
- Vergleichende Sprachwissenschaft (13)
- asset pricing (13)
- banking (13)
- financial stability (13)
- liquidity (13)
- Contagion (12)
- European Central Bank (12)
- Kapitalertrag (12)
- Kongress (12)
- Regulation (12)
- Spracherwerb (12)
- Systemic Risk (12)
- Klein- und Mittelbetrieb (11)
- Kreditwesen (11)
- Portfolio Selection (11)
- Solvency II (11)
- climate change (11)
- competition (11)
- fiscal policy (11)
- inflation (11)
- Asset Pricing (10)
- China (10)
- Consumption (10)
- Disclosure (10)
- Financial Stability (10)
- Fiscal Policy (10)
- GARCH-Prozess (10)
- Kredit (10)
- Prognose (10)
- credit risk (10)
- financial literacy (10)
- oil price (10)
- portfolio choice (10)
- Asset Allocation (9)
- EMU (9)
- Finanzkrise (9)
- Frankreich (9)
- Inflation Targeting (9)
- Life Insurance (9)
- Market Microstructure (9)
- Mergers and Acquisitions (9)
- Sparen (9)
- Syntax (9)
- Thema-Rhema-Gliederung (9)
- Value at Risk (9)
- Wettbewerb (9)
- banks (9)
- model uncertainty (9)
- real-time data (9)
- Arbeitslosigkeit (8)
- Banks (8)
- Financial Literacy (8)
- Kapitalmarkt (8)
- Neuer Markt (8)
- Operationale Semantik (8)
- Optionspreistheorie (8)
- Phonologie (8)
- Precautionary Saving (8)
- Semantik (8)
- Stockholding (8)
- Transparency (8)
- Wechselkurs (8)
- bail-in (8)
- banking union (8)
- capital regulation (8)
- euro area (8)
- finance (8)
- market discipline (8)
- regulatory arbitrage (8)
- welfare (8)
- Aktienkurs (7)
- Asymmetrische Information (7)
- Banking Regulation (7)
- Bankkredit (7)
- Bayesian inference (7)
- Börsenzulassung (7)
- Competition (7)
- DSGE (7)
- DSGE models (7)
- Derivat, Wertpapier (7)
- Einkommen (7)
- Euro Area (7)
- Europäische Zentralbank (7)
- Federal Reserve (7)
- Finanzwirtschaft (7)
- GARCH (7)
- General Equilibrium (7)
- Kapitalgewinn (7)
- Kapitalmarkteffizienz (7)
- Kreditwürdigkeit (7)
- Portfolio Choice (7)
- Preisbildung (7)
- Programmiersprache (7)
- Quantitative Easing (7)
- Risiko (7)
- Risikomanagement (7)
- Risk (7)
- Sprachliche Universalien (7)
- Trust (7)
- Uncertainty (7)
- Wertpapieremission (7)
- Wertpapiermarkt (7)
- asymmetric information (7)
- banking regulation (7)
- contagion (7)
- forward guidance (7)
- lambda calculus (7)
- matching (7)
- political economy (7)
- prudential supervision (7)
- shadow banking (7)
- transparency (7)
- Adverse Selection (6)
- Banking (6)
- Börse (6)
- Capital-Asset-Pricing-Modell (6)
- Climate Change (6)
- Deflation (6)
- Entwicklungsländer (6)
- Fair value accounting (6)
- Financial Crises (6)
- Financial Markets (6)
- Globalisierung (6)
- Household finance (6)
- Immobilienfonds (6)
- Innovation (6)
- International Financial Reporting Standards (6)
- Italien (6)
- Kapitalanlage (6)
- Learning (6)
- Liquidität (6)
- Machine Learning (6)
- Mitgliedsstaaten (6)
- Model Uncertainty (6)
- Nebenläufigkeit (6)
- OTC markets (6)
- Private Equity (6)
- Publizitätspflicht (6)
- Risikoverteilung (6)
- Ruhestand (6)
- Schwellenländer (6)
- Sustainable Finance (6)
- Underpricing (6)
- Wirtschafts- und Währungsunion (6)
- Zinsfuß (6)
- ambiguity (6)
- bank lending (6)
- bank regulation (6)
- consumption (6)
- education (6)
- expectations (6)
- financial regulation (6)
- financial system (6)
- forecasting (6)
- functional programming (6)
- inequality (6)
- interest rates (6)
- leverage (6)
- monetary policy rules (6)
- money (6)
- policy rules (6)
- relationship lending (6)
- risk-taking (6)
- social security (6)
- uncertainty (6)
- venture capital (6)
- volatility (6)
- Abnehmer (5)
- Aktionär (5)
- Altersversorgung (5)
- Artificial Intelligence (5)
- Asset-Backed Security (5)
- Asymmetric Information (5)
- Aufsatzsammlung (5)
- Basel III (5)
- Beschaffungsmarketing (5)
- Beziehungsmanagement (5)
- Buffer Stock Saving (5)
- Business Cycle (5)
- Business Cycles (5)
- Capital Markets Union (5)
- Central Banking (5)
- Corporate Bonds (5)
- Credit Risk (5)
- Emerging Market (5)
- Fair-Value-Bewertung (5)
- Financial Regulation (5)
- Financial stability (5)
- Finanzierungstheorie (5)
- Finanzintermediäre (5)
- Finanzplanung (5)
- Generally Accepted Accounting Principles (5)
- Homeownership (5)
- IPO (5)
- Interbankenabkommen (5)
- International Accounting Standards (5)
- Internet (5)
- Investmentfonds (5)
- Kanada (5)
- Kapitalstruktur (5)
- Konjunktur (5)
- Kreditsicherung (5)
- Lebensversicherung (5)
- Lieferung (5)
- Liquidity Risk (5)
- Market Efficiency (5)
- Moral Hazard (5)
- Normative Orders (5)
- Numerical accuracy (5)
- Phonetik (5)
- Portfolio choice (5)
- Progressive Taxation (5)
- Quantitative Literaturwissenschaft (5)
- Rating (5)
- Regulierung (5)
- Risk Management (5)
- Schuldverschreibung (5)
- Securitization (5)
- Solution methods (5)
- Sovereign Risk (5)
- Sustainability (5)
- Systemic risk (5)
- Theorie (5)
- Unemployment (5)
- Vergleich (5)
- Wertpapierhandel (5)
- Wirtschaftswachstum (5)
- Wortstellung (5)
- Xetra-Handelssystem (5)
- annuity (5)
- banking supervision (5)
- capital requirements (5)
- capital structure (5)
- complementarity (5)
- concurrency (5)
- coronavirus (5)
- credit risk management (5)
- gender (5)
- globalization (5)
- habit formation (5)
- human capital (5)
- investor protection (5)
- model comparison (5)
- peer effects (5)
- pension (5)
- pi-calculus (5)
- price stability (5)
- private equity (5)
- rational expectations (5)
- recursive utility (5)
- saving (5)
- semantics (5)
- social interactions (5)
- stochastic volatility (5)
- systematic risk (5)
- term structure (5)
- unemployment (5)
- wealth inequality (5)
- zero lower bound (5)
- Öffentliche Ausgaben (5)
- 401(k) plan (4)
- Aktienanalyse (4)
- Aktienbewertung (4)
- Aktienoption (4)
- Aktienrecht (4)
- Arbeitsloser (4)
- BRRD (4)
- Bank Resolution (4)
- Bankenaufsicht (4)
- Bantusprachen (4)
- Bayesian Estimation (4)
- Bayesian estimation (4)
- Bewertungseinheit (4)
- Collateral (4)
- Corporate Social Responsibility (4)
- Corporate governance (4)
- Counterparty Risk (4)
- Credit (4)
- Credit Ratings (4)
- Darlehen (4)
- Deutsch (4)
- Digitalisierung (4)
- Disposition Effect (4)
- Einkommensverteilung (4)
- Electronic Commerce (4)
- Enforcement (4)
- Englische Literatur (4)
- Entrepreneurship (4)
- Entwicklungsfinanzierung (4)
- Equity Premium (4)
- Erwartung (4)
- Eurozone (4)
- Evaluation (4)
- FOMC (4)
- Financial Institutions (4)
- Financial crisis (4)
- Finanzanalyse (4)
- Finanzierung (4)
- Finanzierungsstruktur (4)
- Finanzintermediation (4)
- Fragmentation (4)
- Frankfurt <Main, 2003> (4)
- Generaldirektor (4)
- Generative Transformationsgrammatik (4)
- Geschäftsführer (4)
- Globalization (4)
- Gläubiger (4)
- Green Finance (4)
- Hedging (4)
- High-Frequency Trading (4)
- Household Portfolios (4)
- IAS (4)
- Idiosyncratic Risk (4)
- Incomplete Markets (4)
- Inequality (4)
- Initial Public Offerings (4)
- Interest Rate Risk (4)
- Intonation <Linguistik> (4)
- Investitionsentscheidung (4)
- Jumps (4)
- Justification (4)
- Kalman filter (4)
- Kreditgewährung (4)
- Krisenmanagement (4)
- Labor income risk (4)
- Leistungsbilanz (4)
- Logik (4)
- Markteffizienz (4)
- Neubewertung (4)
- Neuer Markt <Börse> (4)
- New Economy (4)
- Possessivität (4)
- Possessivkonstruktion (4)
- Pragmatik (4)
- Prediction (4)
- Price Discovery (4)
- Privater Verbrauch (4)
- Rendite (4)
- Risikoprämie (4)
- Robustness (4)
- Roman (4)
- Russisch (4)
- Schock <Wirtschaft> (4)
- Schweden (4)
- Schweiz (4)
- Screening (4)
- Sovereign debt (4)
- Sparkasse (4)
- Standardisierung (4)
- Stochastic Volatility (4)
- Sustainable Investments (4)
- Systematic Risk (4)
- Tagalog (4)
- Technische Aktienanalyse (4)
- Topmanager (4)
- US GAAP (4)
- Unconventional Monetary Policy (4)
- Universalbank (4)
- Unternehmen (4)
- Unternehmenskooperation (4)
- Unternehmenssanierung (4)
- Value-at-Risk (4)
- Verb (4)
- Verbrauch (4)
- Verbraucherpreis (4)
- Verifikation (4)
- Vertrauen (4)
- Volatility (4)
- Wertpapieranalyse (4)
- Zambia (4)
- Zeitreihenanalyse (4)
- Zinsstruktur (4)
- Zinsstrukturtheorie (4)
- adequate translations (4)
- bank resolution (4)
- beliefs (4)
- business cycle (4)
- capital markets (4)
- central bank independence (4)
- collateral (4)
- contextual equivalence (4)
- convergence (4)
- cooperation (4)
- copyright (4)
- credit constraints (4)
- credit rationing (4)
- crises (4)
- efficiency (4)
- euro (4)
- evaluation (4)
- exchange rates (4)
- financial intermediation (4)
- financial systems (4)
- forecast combination (4)
- goods market integration (4)
- growth (4)
- household debt (4)
- housing (4)
- idiosyncratic risk (4)
- incomplete markets (4)
- inflation targeting (4)
- institutional investors (4)
- institutions (4)
- investment (4)
- investment decisions (4)
- law of one price (4)
- learning (4)
- liquidity risk (4)
- liquidity trap (4)
- machine learning (4)
- market efficiency (4)
- migration (4)
- money creation (4)
- networks (4)
- nominal rigidities (4)
- non-bank financial intermediation (4)
- panel VAR (4)
- portfolio allocation (4)
- predictability (4)
- price discovery (4)
- public debt (4)
- purchasing power parity (4)
- quantitative easing (4)
- realized volatility (4)
- relative price volatility (4)
- retirement (4)
- risk premium (4)
- risk transfer (4)
- savings banks (4)
- selection bias (4)
- sovereign debt (4)
- sovereign risk (4)
- stockholding (4)
- sustainability (4)
- sustainable finance (4)
- ABS (3)
- ARCH-Prozess (3)
- Accounting (3)
- Adaptive Erwartung (3)
- Agency-Theorie (3)
- Aging (3)
- Aktienanlage (3)
- Aktienbörse (3)
- Aktienoptionshandel (3)
- Aktienoptionsplan (3)
- Aktionärsstruktur (3)
- Algorithmic Trading (3)
- Annuities (3)
- Anreiz (3)
- Anteilseigner (3)
- Arbeitsmarkt (3)
- Arbeitsmarktpolitik (3)
- Artikulation (3)
- Artikulatorische Phonetik (3)
- Asset pricing (3)
- Auctions (3)
- Auslandskredit (3)
- Bail-in (3)
- Bank regulation (3)
- Basler Eigenkapitalvereinbarung , 2001 (3)
- Basler Eigenkapitalvereinbarung <1988> (3)
- Basler Eigenkapitalvereinbarung, 2001 (3)
- Basler Eigenkapitalvereinbarung, 2010 (3)
- Bayesian learning (3)
- Bewässerung (3)
- Bias (3)
- Bildung (3)
- Blockchain (3)
- Board of Directors (3)
- Brexit (3)
- Börsenhändler (3)
- CDS (3)
- CLO (3)
- Cahuilla-Sprache (3)
- Central Bank Communication (3)
- Central Clearing (3)
- Climate change (3)
- Cointegration (3)
- Computerlinguistik (3)
- Consumer Credit (3)
- Copyright (3)
- Credit Cards (3)
- Credit Spread (3)
- Critique (3)
- Culture (3)
- Current Account (3)
- Cyprus (3)
- Debt-equity swap (3)
- Debt-nature swap (3)
- Democracy (3)
- Deposit Insurance (3)
- Derivatives (3)
- Deskriptivität (3)
- Deutsche Börse (3)
- Development finance (3)
- Discretion (3)
- Disinflation (3)
- Diskursanalyse (3)
- Dynamisches Gleichgewicht (3)
- EIOPA (3)
- ETFs (3)
- EU (3)
- Economic and Monetary Union (3)
- Eigenkapitalgrundsätze (3)
- Emissionskurs (3)
- Employee stock options (3)
- Entscheidung bei Unsicherheit (3)
- Erzählen (3)
- Europa (3)
- European Banking Authority (EBA) (3)
- European Central Bank (ECB) (3)
- European Monetary Union (3)
- European Union (3)
- Event Study (3)
- Executive Compensation (3)
- Executive stock options (3)
- Expectations (3)
- Experiment (3)
- Exponential smoothing (3)
- Festwert (3)
- FinTech (3)
- Finance (3)
- Financial Education (3)
- Financial Knowledge (3)
- Fire Sales (3)
- Fiscal Multiplier (3)
- Fiscal Stimulus (3)
- Fiskalpolitik (3)
- Fremdfinanzierung (3)
- Funktionale Programmierung (3)
- Fusion (3)
- G-7-Staaten (3)
- Geduld (3)
- Gewinn (3)
- Glaubwürdigkeit (3)
- Gleichgewicht (3)
- Governance (3)
- Government Spending (3)
- Grammatik (3)
- Grammatiktheorie (3)
- Granger Causality (3)
- Greece (3)
- Green bonds (3)
- Greenium (3)
- Griechisch (3)
- Growth (3)
- Hamiltonian Monte Carlo (3)
- Handel (3)
- Health shocks (3)
- Heterogeneous Agents (3)
- High-Frequency Data (3)
- IFRS 9 (3)
- Incomplete markets (3)
- India (3)
- Inside Debt (3)
- Institutionalismus (3)
- Insurance Companies (3)
- Interconnectedness (3)
- Internal Controls (3)
- International Accounting Standard 39 (3)
- Internationaler Kreditmarkt (3)
- Investition (3)
- Kapitalkosten (3)
- Kenntnis (3)
- Kleingewerbe (3)
- Konjunkturzyklus (3)
- Konsumentenkredit (3)
- Kreditgeschäft (3)
- Kreditkarte (3)
- Kreditsicherheit (3)
- Kritik (3)
- Labor Market (3)
- Law and Finance (3)
- Leistungsbewertung (3)
- Lender of Last Resort (3)
- Life-Cycle Model (3)
- Limited Commitment (3)
- Limited Partnership (3)
- Liquidity Provision (3)
- Loss Sharing (3)
- Länderrating (3)
- Länderrisiko (3)
- MREL (3)
- Machine learning (3)
- Marginal Propensity to Consume (3)
- Market Structure (3)
- MiFID II (3)
- Mikrofinanzierung (3)
- Modellierung (3)
- Monetary Policy Rules (3)
- Monetary Union (3)
- Monetary policy (3)
- Monetary policy transmission (3)
- Morphologie (3)
- Morphosyntax (3)
- Neokeynesianismus (3)
- Neugriechisch (3)
- Neural Networks (3)
- New Keynesian Model (3)
- OECD (3)
- OMT (3)
- Open Source (3)
- Optimal Monetary Policy (3)
- Pensions (3)
- Performance (3)
- Phillips Curve (3)
- Policy Rules (3)
- Political Economy (3)
- Portfolio Optimization (3)
- Portfolio optimization (3)
- Preispolitik (3)
- Preisstarrheit (3)
- Price Efficiency (3)
- Privacy (3)
- Produktivität (3)
- Prädikat (3)
- Prädikation (3)
- Public Private Partnership (3)
- R&D (3)
- Ratingagentur (3)
- Real Effects (3)
- Real-time Data (3)
- Recursive Preferences (3)
- Reform (3)
- Rentenmarkt (3)
- Rentenreform (3)
- Reputation (3)
- Restrukturierung (3)
- Retail investors (3)
- Retirement (3)
- Risk Aversion (3)
- Risk Sharing (3)
- Romantheorie (3)
- Saving (3)
- Schattenwirtschaft (3)
- Schulden (3)
- Sign Restrictions (3)
- Single Supervisory Mechanism (3)
- Social Security (3)
- Solvency (3)
- Sovereign Debt (3)
- Sprachtest (3)
- Sticky Prices (3)
- Stochastischer Prozess (3)
- Stress Test (3)
- TLAC (3)
- Teilwert (3)
- Term Structure of Interest Rates (3)
- Terrorism (3)
- Textual Analysis (3)
- Thematische Relation (3)
- Topikalisierung (3)
- Trading (3)
- Transmissionsmechanismus (3)
- Transparenz (3)
- Umschuldung (3)
- Unbewegliche Sache (3)
- Unternehmensgründung (3)
- Unternehmenszusammenschluss (3)
- VAR (3)
- Valenz <Linguistik> (3)
- Venture capital (3)
- Verbraucherpreisindex (3)
- Vergütung (3)
- Versicherungen (3)
- Versicherungsmarkt (3)
- Versicherungswirtschaft (3)
- Vertrag (3)
- Verwandtschaftsbezeichnung (3)
- Vorstandsvorsitzender (3)
- Wage Rigidity (3)
- Welthandel (3)
- Wettbewerbsfreiheit (3)
- Wettbewerbsfähigkeit (3)
- Wirecard (3)
- Wirtschaftspolitik (3)
- Wohlfahrtseffekt (3)
- Wohlstand (3)
- Wohneigentum (3)
- Währungskrise (3)
- Zero Lower Bound (3)
- Zertifizierung (3)
- Zins (3)
- Zinsertragskurve (3)
- advertising (3)
- aggregate risk (3)
- asset allocation (3)
- asset purchases (3)
- automated deduction (3)
- bailout (3)
- bank runs (3)
- banknotes (3)
- behavioral finance (3)
- bid-ask spread (3)
- big data (3)
- blockchain (3)
- border effects (3)
- bubbles (3)
- business cycles (3)
- capital (3)
- career concerns (3)
- central banking (3)
- compensation (3)
- confidence (3)
- consumer protection (3)
- context lemma (3)
- corporate finance (3)
- corporate rating (3)
- credibility (3)
- credit supply (3)
- crisis (3)
- crowding out (3)
- crude oil (3)
- currency crisis (3)
- debt sustainability (3)
- default (3)
- deflation (3)
- derivatives (3)
- discrete hazard models (3)
- discretion (3)
- discrimination (3)
- distress (3)
- downside risk (3)
- entrepreneurship (3)
- equity premium (3)
- ethnicity (3)
- event study (3)
- executive compensation (3)
- financial frictions (3)
- financial innovation (3)
- financial services (3)
- financial transaction data (3)
- fintech (3)
- functional programming languages (3)
- gasoline price (3)
- general equilibrium (3)
- globalisation (3)
- hedging (3)
- heterogeneous agents (3)
- incentives (3)
- innovation (3)
- insider trading (3)
- institution building (3)
- intellectual property (3)
- interest rate risk (3)
- intergenerational persistence (3)
- internet (3)
- jumps (3)
- labor income (3)
- laboratory experiments (3)
- law and finance (3)
- letrec (3)
- leveraged buyouts (3)
- limited attention (3)
- limits to arbitrage (3)
- longevity risk (3)
- managerial incentives (3)
- monetary transmission (3)
- money market funds (3)
- monitoring (3)
- moral hazard (3)
- mortgages (3)
- observational semantics (3)
- ownership structure (3)
- pension reform (3)
- pensions (3)
- persistence (3)
- political economy of bureaucracy (3)
- quantity theory (3)
- rating agencies (3)
- regime-switching (3)
- regulatory capture (3)
- retirement income (3)
- rewriting (3)
- risk allocation (3)
- risk aversion (3)
- risk taking (3)
- school closures (3)
- signaling (3)
- social norms (3)
- social preferences (3)
- spatial data (3)
- stakeholders (3)
- state-owned enterprises (3)
- sticky prices (3)
- stochastic differential utility (3)
- stock market (3)
- structural reforms (3)
- structured finance (3)
- taxation (3)
- taxes (3)
- trading (3)
- trading behavior (3)
- transnational constitutionalism (3)
- unconventional monetary policy (3)
- wealth (3)
- welfare loss (3)
- yield curve (3)
- Älterer Mensch (3)
- (dis-)intermediation (2)
- AI borrower classification (2)
- AI enabled credit scoring (2)
- Abnormal Returns (2)
- Accounting for Banks (2)
- Acquisitions (2)
- Active Labour Market Policy (2)
- Active investors (2)
- Adverse Selection Risk (2)
- Agency Theory (2)
- Aggregate outcomes (2)
- Aktienrückkauf (2)
- Alternative Dispute Resolution (ADR) (2)
- Alternative investments (2)
- Anapher <Syntax> (2)
- Anchoring (2)
- Ankündigungseffekt (2)
- Anleihe (2)
- Annual General Meeting (2)
- Anpassung (2)
- Antitrust (2)
- Arbeitslosenversicherung (2)
- Armut (2)
- Aspekt <Linguistik> (2)
- Asset Price Bubbles (2)
- Asset Prices (2)
- Asset Quality Review (2)
- Asset Securitisation (2)
- Auditing (2)
- Auktionstheorie (2)
- Australische Sprachen (2)
- Außenwirtschaftliches Gleichgewicht (2)
- Bailout (2)
- Bank Capitalization (2)
- Bank Lending (2)
- Bank Simulation (2)
- Bankbilanz (2)
- Bankenkrise (2)
- Bankenunion (2)
- Banking crisis (2)
- Bankpolitik (2)
- Bankruptcy (2)
- Bargaining (2)
- Bargaining Power (2)
- Barrier options (2)
- Basel II (2)
- Basel regulation (2)
- Basle 2 (2)
- Basle Committee (2)
- Bayes-Entscheidungstheorie (2)
- Bayes-Verfahren (2)
- Bayesian Analysis (2)
- Bayesian VAR (2)
- Beliefs (2)
- Betafaktor (2)
- Bevölkerungsentwicklung (2)
- Big Data (2)
- Big Five (2)
- Bilanzierungsgrundsätze (2)
- Bilanzrecht (2)
- Bildungspolitik (2)
- Biodiversity (2)
- Bitcoin (2)
- Bond Markets (2)
- Bootstrap (2)
- Brent (2)
- Bundesanleihe (2)
- Business Network (2)
- Business Sentiment (2)
- Business lending (2)
- Börsenkrach (2)
- Börsenmakler (2)
- CAPM (2)
- CBDC (2)
- CES-Funktion (2)
- CSR (2)
- Car Loans (2)
- Cash (2)
- Cashflow (2)
- Central Counterparties (2)
- Checkliste (2)
- Choquet expected utility (2)
- Circuit Breaker (2)
- Co-residence (2)
- Coco bonds (2)
- Cognition (2)
- Collateral Constraint (2)
- Collateral Policy (2)
- Commitment (2)
- Commodities (2)
- Compensation (2)
- Compensation Structure (2)
- Complementarity (2)
- Complexity (2)
- Conditional Volatility (2)
- Consumer Welfare (2)
- Consumption Dynamics (2)
- Contract Design (2)
- Coordination (2)
- Core Inflation (2)
- Coronavirus (2)
- Corporate Debt Structure (2)
- Covid pandemic (2)
- Credit Rating Agencies (2)
- Crime (2)
- Criminal Law (2)
- Crowding-out (2)
- Cryptocurrencies (2)
- Cumulative prospect theory (2)
- DCC-GARCH (2)
- DEA (2)
- DSGE Estimation (2)
- DSGE Model (2)
- DSGE model (2)
- Dark Trading (2)
- Deductible Insurance (2)
- Default (2)
- Delegated portfolio management (2)
- Demographic Change (2)
- Demokratie (2)
- Density Forecasting (2)
- Desinvestition (2)
- Deutsche Bank (2)
- Development Finance (2)
- Dialoganalyse (2)
- Disaggregated Prices (2)
- Discretization Error (2)
- Distress (2)
- Dodd-Frank Act (2)
- Downside Risk (2)
- Dynamic Duration Models (2)
- Dänemark (2)
- ECB Monetary Policy (2)
- EDIS (2)
- EMIR (2)
- ESG Rating Agencies (2)
- EU economic and financial services legislation (2)
- EU-Staaten (2)
- Economic Governance (2)
- Effektenbank (2)
- Eigenkapital (2)
- Einkommensteuer (2)
- Eligibility premium (2)
- Emerging Markets (2)
- Emissionsgeschäft (2)
- Empirical Asset Pricing (2)
- Empirical Contract Theory (2)
- Endogenous Growth (2)
- Endogenous growth (2)
- Entrepreneurial Finance (2)
- Entry and exit (2)
- Entwicklung (2)
- Environmental (2)
- Environmental policy (2)
- Equator Principles (2)
- Equity Crowdfunding (2)
- Erwartungsbildung (2)
- Euro (2)
- Euro area (2)
- Euromarkt (2)
- European Banking Union (2)
- European Commission (2)
- European Parliament (2)
- European Stability Mechanism (2)
- European Supervisory Architecture (2)
- European integration (2)
- Europäische Wirtschafts- und Währungsunion (2)
- Eurosystem (2)
- Excess Zeros (2)
- Exchange Rates (2)
- Exercise Behavior (2)
- Expectation Formation (2)
- Expected Returns (2)
- Expected credit losses (2)
- Experimentelle Phonetik (2)
- Factor Model (2)
- Factor Models (2)
- Fair Value Accounting (2)
- Familie (2)
- Financial Advice (2)
- Financial Development (2)
- Financial Education Programs (2)
- Financial Frictions (2)
- Financial Instruments (2)
- Financial Reporting (2)
- Financial Systems (2)
- Financial distress (2)
- Financial literacy (2)
- Finanzlage (2)
- Finanzplatz (2)
- Finland (2)
- Fintech (2)
- Firmenkundengeschäft (2)
- Firmenwert (2)
- Fiscal Consolidation (2)
- Fiscal policy (2)
- Forbearance (2)
- Forecasting (2)
- Forschung und Entwicklung (2)
- Forward Guidance (2)
- Fraud (2)
- Fremdkapital (2)
- Fund Flows (2)
- Funds (2)
- Funktionale Programmiersprache (2)
- Führungskraft (2)
- G-SIB (2)
- G-SIFIs (2)
- Geldmarkt (2)
- General-to-specific Methodology (2)
- Geopolitik (2)
- Gerechtigkeit (2)
- Gerichte (2)
- German banks (2)
- German financial system (2)
- German reunification (2)
- Geschichte 1980-1998 (2)
- Geschichte 1997-2000 (2)
- Geschichte 2002 (2)
- Geschichte 2007-2010 (2)
- Gesellschaftsrecht (2)
- Gesprochene Sprache (2)
- Gesundheit (2)
- Global Governance (2)
- Government Debt (2)
- Grammatikalisation (2)
- Granger causality (2)
- Great Recession (2)
- Green Bonds (2)
- Greenbook (2)
- Greenwashing (2)
- Grenzüberschreitung (2)
- Grundwasser (2)
- Guidelines (2)
- Haftung (2)
- Hauptkomponentenanalyse (2)
- Hauptversammlung (2)
- Hausbank (2)
- Hawkes processes (2)
- Health (2)
- Hedge Accounting (2)
- Herausstellung (2)
- Herd Behavior (2)
- Heterogeneous innovation (2)
- Hidden Liquidity (2)
- High Frequency Data (2)
- High-Frequency Traders (HFTs) (2)
- High-frequency Data (2)
- Hold-up (2)
- Home ownership (2)
- Hongkong (2)
- House Prices (2)
- House prices (2)
- Household-Size Economies (2)
- Housing (2)
- Housing Wealth (2)
- Human Capital (2)
- Hysterese (2)
- Iceberg Orders (2)
- Identität (2)
- Immaterieller Anlagewert (2)
- Income and Wealth Inequality (2)
- Index (2)
- Index-Futures (2)
- Indexzahl (2)
- Inflation Convergence (2)
- Inflationsrate (2)
- Information Acquisition (2)
- Informationsstruktur (2)
- Informationsverhalten (2)
- Informationsökonomie (2)
- Informeller Finanzsektor (2)
- Infrastructure (2)
- Insider Trading (2)
- Insidergeschäft (2)
- Institutional Investors (2)
- Insurance Activities (2)
- Insurance Markets (2)
- Integration (2)
- Interest Rate Guarantees (2)
- Interest Rates (2)
- Intermediary (2)
- International Accounting (2)
- International Finance (2)
- International Portfolio Diversification (2)
- Internationale Bank (2)
- Internationale Kapitalbewegung (2)
- Internationaler Konjunkturzusammenhang (2)
- Internationaler Vergleich (2)
- Internationaler Wettbewerb (2)
- Interrogativsatz (2)
- Investmentsparen (2)
- Investor Protection (2)
- Investor Sentiment (2)
- Investor behavior (2)
- Investor protection (2)
- Ireland (2)
- Irland (2)
- Kapitalallokation (2)
- Kapitalflussrechnung (2)
- Kapitalismus (2)
- Kapitalmarktrecht (2)
- Kapitalmobilität (2)
- Kassamarkt (2)
- Kenya (2)
- Keynessche Theorie (2)
- Klein- und Mittelunternehmen (2)
- Klimawandel (2)
- Kointegration (2)
- Konfliktlösung (2)
- Konsol (2)
- Kontextuelle Gleichheit (2)
- Kosten (2)
- Kreditgenossenschaft (2)
- Kreditpolitik (2)
- Kreditwürdigkeitsprüfung (2)
- Kulturelle Entwicklung (2)
- Kurtosis (2)
- Körperteil (2)
- Landwirtschaft (2)
- Lebenshaltungskosten (2)
- Leistungsmessung (2)
- Lending (2)
- Lieferanten-Kunden-Beziehung (2)
- Life Insurance Surrender (2)
- Life Insurers (2)
- Life insurance companies (2)
- Limit Order Book (2)
- Limit Order Market (2)
- Limit Order Markets (2)
- Limited Enforcement (2)
- Linear Aggregation (2)
- Liquidity Constraints (2)
- Liquidity Trap (2)
- Liquiditätspräferenztheorie (2)
- Liquiditätsrisiko (2)
- Literatur (2)
- Literaturgeschichte (2)
- Literaturkanon (2)
- Literaturtheorie (2)
- Literaturwissenschaft (2)
- Loan Securitisation (2)
- Loan loss accounting (2)
- Loans (2)
- Lock-up (2)
- Logics (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)
- Malmquist-Productivity (2)
- Management (2)
- Margin (2)
- Mark-to-Market (2)
- Mark-to-market (2)
- Market Design (2)
- Market Fragmentation (2)
- Market Liquidity (2)
- Market Quality (2)
- Marketplace lending (2)
- Marktanteil (2)
- Marktdisziplin (2)
- Marktstruktur (2)
- Matching (2)
- Mehrsprachigkeit (2)
- Mengenindex (2)
- Messung (2)
- Methode (2)
- Microfinance (2)
- Microstructure (2)
- Mikrostrukturtheorie <Kapitalmarkttheorie> (2)
- Minimax (2)
- Mobility (2)
- Modalität <Linguistik> (2)
- Model Comparison (2)
- Model Error (2)
- Monetary policy rules (2)
- Money (2)
- Morphologie <Linguistik> (2)
- Mortality risk (2)
- Mortgages (2)
- Multiplicative Error Model (2)
- Multivariate GARCH (2)
- Multivariate Probit (2)
- Muster <Struktur> (2)
- Nachfrage (2)
- Namibia (2)
- Networks (2)
- New Keynesian model (2)
- New-Keynesian Model (2)
- News and Business Cycles (2)
- Niederlande (2)
- Nomen (2)
- Nominal GDP Growth (2)
- Nominalisierung (2)
- Nominalzins (2)
- Non-performing Loans (2)
- Notenbank (2)
- Notverkäufe (2)
- Offene Volkswirtschaft (2)
- Open Economy DSGE Models (2)
- Optimal Taxation (2)
- Optimal policy (2)
- Optimism (2)
- Ordoliberalismus (2)
- Output Gap (2)
- Overlapping Generations (2)
- Overlapping generations (2)
- Own Risk and Solvency Assessment (2)
- Ownership Structure (2)
- P2P lending (2)
- PCAOB (2)
- Panel Data (2)
- Parameter Elicitation (2)
- Partizipation (2)
- Patents (2)
- Permanent Income Hypothesis (2)
- Persistence (2)
- Pfandbrief (2)
- Phillips-Kurve (2)
- Policy Under Uncertainty (2)
- Politikberatung (2)
- Portfolio Insurance (2)
- Portfolio allocation (2)
- Portugal (2)
- Predictive Likelihood (2)
- Preis (2)
- Preisindex der Lebenshaltung (2)
- Price Formation (2)
- Price Impact of Trades (2)
- Principal Agent (2)
- Principal Component Analysis (2)
- Principle of Proportionality (2)
- Private Information (2)
- Private equity (2)
- Procyclicality (2)
- Product Market Competition (2)
- Product Market Deregulation (2)
- Productivity (2)
- Prognoseverfahren (2)
- Programmtransformation (2)
- Prospect Theory (2)
- Prudential oversight (2)
- Public-Private Partnership (2)
- Pufferspeicher (2)
- Quantitative easing (2)
- Quantity Theory (2)
- Rational Expectations (2)
- Realer-Konjunkturzyklus-Theorie (2)
- Reallocation (2)
- Recht (2)
- Regelbindung (2)
- Regional Diversity (2)
- Relationship Lending (2)
- Relationship lending (2)
- Relativsatz (2)
- Rentner (2)
- Resolution (2)
- Retail Investor (2)
- Retirement Planning (2)
- Rezession (2)
- Risk Assessment (2)
- Risk Attitudes (2)
- Risk Preferences (2)
- Risk Premium (2)
- Risk Transfer (2)
- Risk-Taking (2)
- Russia (2)
- SFDR (2)
- SVAR (2)
- SWIFT (2)
- Sachbearbeiter (2)
- Sanctions (2)
- School of Salamanca (2)
- Schätzfunktion (2)
- Schätztheorie (2)
- Securitisation (2)
- Sektoraler Strukturwandel (2)
- Selection (2)
- Self-control (2)
- Self-fulfilling Prophecy (2)
- Semantics (2)
- Semiparametric Specification Test (2)
- Severance Pay (2)
- Shortfall Risk (2)
- Sicherheit (2)
- Signaling (2)
- Simulated Maximum Likelihood (2)
- Single Resolution Mechanism (2)
- Single Supervisory Mechanism (SSM) (2)
- Skewness (2)
- Social Conditioning (2)
- Social Insurance (2)
- Social Networks (2)
- Societal constitutionalism (2)
- Spanien (2)
- Speculation (2)
- Spitzentechnologie (2)
- Sprachkontakt (2)
- Sprachverstehen (2)
- Spread Decomposition Models (2)
- Staatsanleihe (2)
- Stakeholder (2)
- Standort (2)
- Statistischer Test (2)
- Stimmrecht (2)
- Stochastic mortality risk (2)
- Stock Market (2)
- Stock Market Participation (2)
- Structured Finance (2)
- Sub-Saharan Africa (2)
- Substitutionselastizität (2)
- Supply Chain (2)
- Survey Data (2)
- Survey Indicator (2)
- Survey Method (2)
- Sustainable Investing (2)
- Sweden (2)
- Syndicated loans (2)
- Systemically Important Financial Institutions (2)
- TIPS (2)
- Tagesgeschäft (2)
- Takeover (2)
- Tarifverhandlung (2)
- Taxation of Capital (2)
- Taxonomy (2)
- Taylor Rule (2)
- Taylor Rules (2)
- Taylor rule (2)
- Technischer Fortschritt (2)
- Term life insurance (2)
- Termingeschäft (2)
- Time Inconsistency (2)
- Time Preferences (2)
- Tontines (2)
- Top Income Taxation (2)
- Trading Intensity (2)
- Transfer Learning (2)
- Transition risk (2)
- Transkription (2)
- Transnationaler Konstitutionalismus (2)
- Trend Growth (2)
- Trittbrettfahrerverhalten (2)
- Turkey (2)
- Twitter (2)
- Ukraine (2)
- Umfrage (2)
- United States (2)
- Universalgrammatik (2)
- Unternehmensanleihen (2)
- Unternehmensfinanzierung (2)
- Unternehmensverfassung (2)
- VaR (2)
- Value-at-risk (2)
- Variance Decomposition (2)
- Vektor-autoregressives Modell (2)
- Verbraucher (2)
- Verbraucherschutz (2)
- Verification (2)
- Verkehr (2)
- Volatility Interruption (2)
- Volatility Risk Premium (2)
- WTI (2)
- Wealth (2)
- Wealth Shocks (2)
- Welfare (2)
- Weltpolitik (2)
- Wertpapierbörse (2)
- Wertpapierhandelssystem (2)
- Wertpapierportefeuille (2)
- Wirkungsanalyse (2)
- Wirtschaftsentwicklung (2)
- Wirtschaftskrise (2)
- Wirtschaftspolitische Wirkungsanalyse (2)
- Wirtschaftsprüfung (2)
- Worthäufigkeit (2)
- Währungsrisiko (2)
- Zahlungsbilanzausgleich (2)
- Zahlungsbilanzungleichgewicht (2)
- Zeitinkonsistenz (2)
- Zentraler Kontrahent (2)
- Zero nominal interest rate bound (2)
- Zerobond (2)
- Zinspolitik (2)
- Zinssätze (2)
- Zwangsanleihe (2)
- accountability (2)
- active labour market policy (2)
- active shareholders (2)
- adaptive learning (2)
- agency (2)
- agriculture (2)
- announcements (2)
- anomalies (2)
- art (2)
- art market (2)
- asset management (2)
- asset prices (2)
- asset valuation (2)
- attention (2)
- auctions (2)
- auditor liability (2)
- austerity (2)
- bailouts (2)
- bank capital (2)
- bank competition (2)
- bank deposits (2)
- bank mergers (2)
- bank risk (2)
- banking separation (2)
- banking separation proposals (2)
- bond markets (2)
- bootstrapping (2)
- borrowing constraints (2)
- brown-spinning (2)
- business equity (2)
- call-by-name (2)
- call-by-need (2)
- capital market-based financial system (2)
- cash flow statements (2)
- central bank (2)
- central bank communication (2)
- central bank policy (2)
- central banks (2)
- clearing (2)
- climate (2)
- collective action (2)
- collective litigation (2)
- commitment (2)
- compensation design (2)
- computer vision (2)
- conflict (2)
- conflict resolution (2)
- consistent systems (2)
- consumer credit (2)
- consumption hump (2)
- consumption-portfolio choice (2)
- context unification (2)
- continuation vote (2)
- controlled diffusions and jump processes (2)
- coordination (2)
- coordination risk (2)
- core (2)
- corn (2)
- corporate bond market (2)
- corporate social responsibility (2)
- cost of capital (2)
- counterfactual analysis (2)
- courts (2)
- credit funds (2)
- credit ratings (2)
- credit scoring methodology (2)
- credit scoring regulation (2)
- crowdfunding (2)
- crowdinvesting (2)
- cryptocurrencies (2)
- debt consolidation (2)
- debt maturity (2)
- delayed claiming (2)
- delayed retirement (2)
- demutualization (2)
- density forecasting (2)
- density forecasts (2)
- deposit insurance (2)
- difference-in-differences (2)
- disaster risk (2)
- disclosure (2)
- discount (2)
- discretionary decisions (2)
- disintermediation (2)
- distress prediction (2)
- diversification (2)
- diversity (2)
- dividends (2)
- dynamic portfolio choice (2)
- early retirement (2)
- earnings management (2)
- economic and monetary union (2)
- economics of organization (2)
- economies of scale (2)
- education policy (2)
- elections (2)
- electoral system (2)
- electricity (2)
- endogenous growth (2)
- entry (2)
- exchange rate (2)
- exchanges (2)
- exit strategies (2)
- expectation formation (2)
- experimental asset markets (2)
- experimental economics (2)
- experts (2)
- factor model (2)
- financial advice (2)
- financial centres (2)
- financial constraints (2)
- financial distress (2)
- financial institutions (2)
- financial markets (2)
- financial privacy (2)
- financial sophistication (2)
- financial structure (2)
- financing decisions (2)
- financing policy (2)
- firm heterogeneity (2)
- fiscal reaction function (2)
- forecasts (2)
- foreign direct investment (2)
- frequency domain (2)
- futures (2)
- gasoline (2)
- global banks (2)
- global modeling (2)
- global real activity (2)
- government bonds (2)
- green finance (2)
- hedge funds (2)
- high-frequency data (2)
- historical statistics (2)
- housebanks (2)
- household portfolio (2)
- household survey (2)
- household-portfolio shares (2)
- identification (2)
- identity (2)
- implied volatility (2)
- implied volatility skew (2)
- impulse response (2)
- individual investor (2)
- individual investors (2)
- infinitary lambda calculus (2)
- inflation persistence (2)
- inflation target (2)
- information aggregation (2)
- information production (2)
- information technology (2)
- interbank networks (2)
- internal ratings (2)
- international financial integration (2)
- investments (2)
- joint inference (2)
- knowledge (2)
- labor demand (2)
- labor supply (2)
- laboratory experiment (2)
- lambda-calculus (2)
- lazy evaluation (2)
- learning about jumps (2)
- leasing (2)
- legal pluralism (2)
- life cycle saving (2)
- life insurance (2)
- lifetime income (2)
- limit order book (2)
- liquidity premium (2)
- liquidity provision (2)
- loan contract design (2)
- loan origination (2)
- loanable funds (2)
- local government (2)
- logics in artificial intelligence (2)
- long-run risk (2)
- long-term lending (2)
- longevity (2)
- loss function (2)
- macro-prudential supervision (2)
- macroeconomic modelling (2)
- macroprudential supervision (2)
- manipulation (2)
- marginal propensity to consume (2)
- market structure (2)
- market supervision (2)
- mergers & acquisitions (2)
- mergers and acquisitions (2)
- mobility (2)
- monetary policy rule (2)
- monetary policy strategy (2)
- monetary policy transmission (2)
- monetary transmission mechanism (2)
- money markets (2)
- mutual funds (2)
- natural experiment (2)
- natural gas (2)
- net zero transition (2)
- newly founded firms (2)
- news (2)
- non-determinism (2)
- nondeterminism (2)
- oil inventories (2)
- oil market (2)
- open content (2)
- open source software (2)
- optimal investment (2)
- optimal monetary policy (2)
- option prices (2)
- owner-manager conflict (2)
- pandemics (2)
- panel data (2)
- parameter uncertainty (2)
- participation (2)
- pass-through (2)
- patents (2)
- payout policy (2)
- pension system (2)
- policy (2)
- policy evaluation (2)
- policy robustness (2)
- policy under uncertainty (2)
- population aging (2)
- portfolio management (2)
- portfolio selection (2)
- principal-agent models (2)
- principles-based regulation (2)
- private companies (2)
- private information (2)
- productivity (2)
- professional networks (2)
- program transformation (2)
- programming languages (2)
- prohibition of proprietary trading (2)
- property rights (2)
- proprietary trading (2)
- public information (2)
- public policy (2)
- quantile regressions (2)
- rational learning (2)
- real estate lending (2)
- real exchange rate (2)
- reale Auswirkungen (2)
- recapitalization (2)
- recession (2)
- recovery (2)
- redistribution (2)
- refugees (2)
- renegotiation (2)
- repeated games (2)
- repurchases (2)
- responsible lending (2)
- retirement age (2)
- retirement policies (2)
- return predictability (2)
- risk (2)
- risk management (2)
- risk premia (2)
- safe assets (2)
- screening (2)
- second order unification (2)
- securities regulation (2)
- seigniorage (2)
- sentiment (2)
- settlement (2)
- shipping (2)
- signalling (2)
- simulated method of moments (2)
- skewness (2)
- social dilemmas (2)
- social media (2)
- sovereign exposures (2)
- speed bump (2)
- spillover effects (2)
- spot market power (2)
- stability (2)
- stabilization (2)
- statistical discrimination (2)
- stock market participation (2)
- straight-through processing (2)
- structural VAR (2)
- structural breaks (2)
- subsistence consumption (2)
- supervisory arbitrage (2)
- surveillance (2)
- survey (2)
- syndicated loans (2)
- systemisches Risiko (2)
- tax (2)
- test cases (2)
- tourism (2)
- tragedy of the commons (2)
- transdisciplinarity (2)
- transmission (2)
- transnational networks (2)
- trust (2)
- unconventional oil (2)
- unemployment insurance (2)
- unification (2)
- universal banking (2)
- validation (2)
- verification (2)
- voluntary disclosure (2)
- wages (2)
- workouts (2)
- zero interest rate bound (2)
- fiscal policy (2)
- Öffentliche Ordnung (2)
- Österreich (2)
- "Event Study" (1)
- "magnet effect" (1)
- (self-)representation (1)
- 13F filings (1)
- 16th Century (1)
- 16th century (1)
- 17th century (1)
- 2-Sector Model (1)
- AI (1)
- AI Act (1)
- ARCH-Modell (1)
- ARMA (1)
- Abfindungsspekulation (1)
- Abgabe (1)
- Abhängigkeit (1)
- Ableitung <Linguistik> (1)
- Absatz <Text> (1)
- Absatzweg (1)
- Abstrakte Reduktion (1)
- Abstrakter Automat (1)
- Abteilungsleiter (1)
- Abwanderung-Widerspruch-Theorie (1)
- Accession Protocol (1)
- Accounting for Financial Instruments in the Banking Industry: Conclusions from a Simulation Model (1)
- Accounting regulation (1)
- Accounting research (1)
- Active labour market policy (1)
- Activism (1)
- Activist Hedge Fund (1)
- Adaptation (1)
- Adjunkt <Linguistik> (1)
- Adverse Selection Costs (1)
- Affix (1)
- Affordability crisis (1)
- Africa (1)
- African state (1)
- Afrika <Motiv> (1)
- Afrikabild (1)
- Afrikanische Sprachen (1)
- Afrocentrism (1)
- Afrozentrismus (1)
- Age (1)
- Agency costs (1)
- Agglomeration <Wirtschaft> (1)
- Agglomerationseffekt (1)
- Aggregate Fluctuations (1)
- Agile Methods (1)
- Aging Society (1)
- Akan-Sprache (1)
- Akkadian language (1)
- Akkadische Sprache (1)
- Aktie (1)
- Aktiendepot (1)
- Aktiengesellschaft (1)
- Aktienindex (1)
- Aktienportefeuille (1)
- Akustische Phonetik (1)
- Alevis (1)
- Alfonso de Castro (1)
- Algorithmic Discrimination (1)
- Algorithmic transparency (1)
- Algorithmus (1)
- Alice ML (1)
- Allfinanzkonzern (1)
- Allgemeines Gleichgewicht (1)
- Allgemeines Gleichgewichtsmodell (1)
- Allocation (1)
- Allocative Effciency (1)
- Alpha equivalence (1)
- Alter (1)
- Alter Orient (1)
- Alternative Investments (1)
- Altersstruktur (1)
- Alterungsgesellschaft (1)
- Alveolar (1)
- Amerikanische Literatur (1)
- Amortization payments (1)
- Amplification (1)
- Amtsgerichte (1)
- Amtsperiode (1)
- AnaCredit (1)
- Analysis (1)
- Ancient Near Eastern International Law (1)
- Ancient Near Eastern law (1)
- Ancient near east (1)
- Angebot (1)
- Angel (1)
- Angola (1)
- Anlagepolitik (1)
- Anlageverhalten (1)
- Anlaut (1)
- Annotation (1)
- Annuity (1)
- Anonymity (1)
- Anreizsystem (1)
- Anreizvertrag (1)
- Ansteckungsperiode (1)
- Anthropogene Klimaänderung (1)
- Anti-Americanism ; Shiite messianism ; Islamism (1)
- Anticipated Inflation (1)
- Anticipatory Feeling (1)
- Antikausativ (1)
- Antonym (1)
- Apache Spark (1)
- Appraisal rights (1)
- Aquinas (1)
- Arabisch (1)
- Arbeitsangebot (1)
- Arbeitsbeschaffung (1)
- Arbeitsmarktflexibilisierung (1)
- Arbeitsmarktpolitik / Weiterbildung / Wirtschaftspolitische Wirkungsanalyse / Mikroökonometrie / Schätzung / Neue Bundesländer (1)
- Arbeitsmarktstatistik (1)
- Arbeitsmarkttheorie (1)
- Arbeitsproduktivität (1)
- Arbeitsrecht (1)
- Arbeitsvermittlung (1)
- Arbeitswelt (1)
- Arbitrage (1)
- Argentinien (1)
- Arm’s Length Debt (1)
- Arriaga (1)
- Art (1)
- Art Index (1)
- Art Market (1)
- Art investment (1)
- Art market (1)
- Art price index (1)
- Artificial Intelligence; (1)
- Artikulator (1)
- Arzneimittelmarkt (1)
- Arzneimittelrecht (1)
- Asien (1)
- Aspiration (1)
- Assam (1)
- Asset Allocation, Contagion (1)
- Asset Concentration Risk (1)
- Asset Liability Management (1)
- Asset Liquidation (1)
- Asset Location (1)
- Asset Management Companies (1)
- Asset Market (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)
- Asymmetric information (1)
- Asymmetries (1)
- Asymmetry (1)
- Asynchronous Trading (1)
- Auction (1)
- Audit fees (1)
- Audit partner tenure (1)
- Audit quality (1)
- Auditive Phonetik (1)
- Auditor rotation (1)
- Aufholprozess (1)
- Aufsichtsrat (1)
- Auftrag (1)
- Auftragsabwicklung (1)
- Ausbreitung (1)
- Ausfallrisiko (1)
- Ausgaben (1)
- Auskunftei (1)
- Auslandsanleihe (1)
- Auslandsschulden (1)
- Auslaut (1)
- Ausländisches Unternehmen (1)
- Ausschluss (1)
- Ausschüsse für Politik und Recht (1)
- Austerity Measures (1)
- Austronesische Sprachen (1)
- Automation (1)
- Automatische Spracherkennung (1)
- Autoregressiver Prozess (1)
- Außenhandel (1)
- Außenwirtschaft (1)
- Außerbilanzielles Geschäft (1)
- BCBS (1)
- BVerfG (1)
- Bacidiopsora (1)
- Backward error (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 lending standards (1)
- Bank loan terms (1)
- Bank mergers (1)
- Bank of Japan (1)
- Bank's Balance Sheets (1)
- Bankenliquidität (1)
- Bankensystem / Finanzsektor / Branchenentwicklung / Rentabilität / Strukturwandel / Sparkasse / Kreditgenossenschaft / Deutschland / 1970-2003 (1)
- Banker's pay (1)
- Banking Competition (1)
- Banking Crisis (1)
- Banking Separation (1)
- Banking Stability (1)
- Banking Supervision (1)
- Banking in Europe (1)
- Banking stability (1)
- Banking system (1)
- Banking union (1)
- Bankrecht (1)
- Bankrott (1)
- Bankruptcy Law (1)
- Barclays (1)
- Barclays Bank (1)
- Basel II Accord (1)
- Baskisch (1)
- Batch Learning (1)
- Baumgrammatiken (1)
- Baushi (1)
- Bayes-Lernen (1)
- Bayes-Regel (1)
- Bayesian analysis (1)
- Bayesian time-varying parameter estimation (1)
- Behavioral Finance (1)
- Behavioral Insurance (1)
- Behavioral Measurement (1)
- Behavioral finance (1)
- Belgien (1)
- Belief Formation (1)
- Belief up-dating (1)
- Beliefs and Choice (1)
- Bellman Equations (1)
- Benefits (1)
- Berlin <2001> (1)
- Berne Convention (1)
- Berufliche Integration (1)
- Berufserfolg (1)
- Beschreibungskomplexität (1)
- Beschäftigungseffekt (1)
- Beschäftigungspolitik (1)
- Beschäftigungstheorie (1)
- Beschäftigungswirkung (1)
- Besessenheit (1)
- Beta (1)
- Beta and return (1)
- Beteiligungsfinanzierung (1)
- Betrieb (1)
- Betriebliche Kennzahl (1)
- Betriebsgröße (1)
- Betriebsleiter (1)
- Bewertungsstetigkeit (1)
- Bias in medical research (1)
- Biased Beliefs (1)
- Bibliografie (1)
- Bibliographie (1)
- Bibliothek (1)
- Bid-Ask Spread (1)
- Bidder Behavior (1)
- Big Five Personality (1)
- Big Techs (1)
- Big Three (1)
- Big data (1)
- Bilanz (1)
- Bilanzklarheitsgrundsatz (1)
- Bilanzkontinuität (1)
- Bilanzpolitik (1)
- Bilanzstrukturmanagement (1)
- Bilateral Trade Flows (1)
- Bilaterales Monopol (1)
- Bildverarbeitung (1)
- Binarismus (1)
- Bindungstheorie <Linguistik> (1)
- Binnenmarkt (1)
- Biotech Firms (1)
- Biotechnologische Industrie (1)
- Blankoverkauf (1)
- Blocked Realized Kernel (1)
- Blocking (1)
- Blue Chip (1)
- Board Appointments (1)
- Board Independence (1)
- Board Oversight (1)
- Boards für Stadt-Entwicklung (1)
- Boden (1)
- Bond Market (1)
- Bond Spreads (1)
- Bond risk premia (1)
- Bonitätsprüfung (1)
- Book of lamentations ; Western Semitic languages ; Dead Sea ; Ugaritic language (1)
- Boom (1)
- Borrowing (1)
- Boston, Mass. (Region) (1)
- Box-Cox quantile regression (1)
- Branchenkrise (1)
- Brasilien (1)
- Broker (1)
- Brokerage (1)
- Bubbles (1)
- Buchführung (1)
- Buchführungsgrundsätze (1)
- Budgetierung (1)
- Buffer Stock Model (1)
- Bulgarisch (1)
- Bunching (1)
- Bundesbank (1)
- Business Ethics (1)
- Business Subsidies (1)
- Business cycles (1)
- Bust (1)
- Börsenhandel (1)
- Börseninformationssystem (1)
- Börsenordnung (1)
- Börsenrecht (1)
- Bürgerbeteiligung / Bürger:innenbeteiligung (1)
- Büros für Wirtschafts-und Handelsbeziehungen (1)
- Büros für Wohnungsbau (1)
- C corporations (1)
- CBO (1)
- CBRT (1)
- CCP (1)
- CDO (1)
- CDS spreads (1)
- CECL (1)
- CEO Speeches (1)
- CEO Turnover (1)
- CES production functions (1)
- CMU (1)
- COVID-19 Pandemic (1)
- COVID-19 news (1)
- COVID-19 pandemic (1)
- CRA3 (1)
- CRB (1)
- CSDP (1)
- CSPP (1)
- CSR Europe (1)
- CVaR (1)
- CWO (1)
- Call Market (1)
- Call Markets (1)
- Call options (1)
- Call-Option (1)
- Call-by-Need (1)
- Cameroon (1)
- Canada (1)
- Candelariella (1)
- Capacity utilization (1)
- Capital Asset Pricing Model (1)
- Capital Butgeting (1)
- Capital Inflows (1)
- Capital Market (1)
- Capital Markets (1)
- Capital Purchase Program (1)
- Capital Taxation (1)
- Capital allocation (1)
- Capital requirements (1)
- Capital-labor substitution (1)
- Capitulation (1)
- Carbon Taxation (1)
- Carbon abatement (1)
- Cash Flow Risk (1)
- Cash flow effect of monetary policy (1)
- Caste (1)
- Cat Bonds (1)
- Causal Machine Learning (1)
- Causal inferences (1)
- Cayuga-Sprache (1)
- Central Bank (1)
- Central Bank Losses (1)
- Central Bank of Cyprus (1)
- Central Banks (1)
- Central Banks and Their Policies (1)
- Central Counterparty (1)
- Central Counterparty Clearing House (CCP) (1)
- Central bank liquidity (1)
- Centrality (1)
- Change Management (1)
- Charakterisierung (1)
- Charakterstudie (1)
- Chart-Analyse (1)
- Chief Executive Officer (1)
- Chihuahuan Desert (1)
- Childhood (1)
- Chile (1)
- Chinese studies (1)
- Chiodecton (1)
- Choice under Risk (1)
- Cholesky decomposition (1)
- Choquet (1)
- Church Courts (1)
- Citation Network Analysis (1)
- Citizen Participation (1)
- Citizenship (1)
- Classification (1)
- Clean (1)
- Clearing (1)
- Climate Behavior (1)
- Climate Policies (1)
- Climate Protection (1)
- Climate change economics (1)
- Climate finance (1)
- Closed-end fund (1)
- Closed-end fund discount (1)
- Closed-end funds (1)
- Closing Price (1)
- Cluster <Wirtschaft> (1)
- Clustering (1)
- Co-Creation (1)
- CoCo Bond (1)
- CoCo bonds (1)
- CoCos (1)
- CoVaR (1)
- Coalitions (1)
- Coenogonium (1)
- Cognitive Abilities (1)
- Cohorts (1)
- Collateral constraints (1)
- Collateralized debt obligation (1)
- Collective Action (1)
- Collective Action Clause (1)
- Collective Redress Recommendation (1)
- College dropout risk (1)
- College premium (1)
- College wage premium (1)
- Colocation (1)
- Colonialism (1)
- Commercial Law (1)
- Commercial banking (1)
- Commercialisation (1)
- Commerzbank (1)
- Common Factor (1)
- Common Factor Model (1)
- Common Factor Models (1)
- Common Factor Weights (1)
- Communication (1)
- Comovements (1)
- Comparative (1)
- Comparative Accounting (1)
- Comparing Financial Systems (1)
- Compensation Contracting (1)
- Competition Policy (1)
- Competition in Order Flow (1)
- Complex Financial Instruments (1)
- Comprehensive Assessment (1)
- Computational Methods (1)
- Computerphilologie (1)
- Computerspiel (1)
- Concentration (1)
- Condition number (1)
- Conditional Forecasts (1)
- Conditional Pooling (1)
- Conditional intensity (1)
- Conditional response (1)
- Conditionality (1)
- Confirmatory Bias (1)
- Conflict Factors (1)
- Conflict Prevention (1)
- Conflict Prolonging Factors (1)
- Connectivity (1)
- Consulting (1)
- Consumer Finance (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 Period (1)
- Contagion Risk (1)
- Container Trade (1)
- Contestability (1)
- Contextual Equivalence (1)
- Contingent Commissions (1)
- Contingent Convertible Bonds (1)
- Contingent Convertible Capital (1)
- Continuous-time methodsc (1)
- Contra malos divites et usurarios (1)
- Contract terms (1)
- Contractarian Model of Corporate Law (1)
- Contracting (1)
- Contrastive linguistics (1)
- Control transfers (1)
- Convergences of Financial Systems (1)
- Convertible Securities (1)
- Cooperation (1)
- Coordination Risk (1)
- Coping capacity (1)
- Copula (1)
- Corona (1)
- Corona-Pandemie (1)
- Corporate Announcements (1)
- Corporate Distress (1)
- Corporate Finance (1)
- Corporate Financing (1)
- Corporate Governance / Eigentümerstruktur / Universalbank / Finanzmarkt / Mitbestimmung / Deutschland (1)
- Corporate Governance / Informationsökonomik / Informationsverbreitung / Finanzintermediär / Theorie (1)
- Corporate Groups (1)
- Corporate Investment (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 law (1)
- Corporate quantitative easing (1)
- Correlated Events (1)
- Cost of Capital (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 Commons (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 market competition (1)
- Credit rating (1)
- Credit rating agencies (1)
- Credit risk (1)
- Credit spreads (1)
- Credit supply (1)
- Credit union (1)
- Creditor Protection (1)
- Creditor Rights (1)
- Creditor Rights Protection (1)
- Crete (1)
- Criminal Theory (1)
- Crises Forecasting (1)
- Crisis Management (1)
- Crisis contracts (1)
- Critical Theory (1)
- Cross-Predictability (1)
- Cross-Section of Returns (1)
- Cross-listing (1)
- Crowding Out (1)
- Cultural Economics (1)
- Cultural Finance (1)
- Cultural Influences on Economic Behavior (1)
- Cultural Norms (1)
- Currency Board (1)
- Currency Hedging (1)
- Customer Flow (1)
- Customer Protection Rules (1)
- Customer data sharing (1)
- CuveWaters (1)
- Cybersecurity (1)
- Cybersicherhheit (1)
- Cycle Portfolio Choice (1)
- Cyclical Income Risk (1)
- Côte d’Ivoire (1)
- DGE Models (1)
- DMA (1)
- DSA (1)
- DSGE Models (1)
- DSGE modelling (1)
- Dark Pools (1)
- Data access (1)
- Data portability (1)
- Database linking (1)
- Datensatz (1)
- Dauer (1)
- David Sciulli (1)
- Debatten (1)
- Debit Cards (1)
- Debt (1)
- Debt Management (1)
- Debt Securities (1)
- Debt and equity financing (1)
- Decision (1)
- Decision Making und Risk (1)
- Decision under risk (1)
- Default probability (1)
- Deficit spending (1)
- Deixis (1)
- Deklination (1)
- Delaunay Interpolation (1)
- Delaware Incorporation (1)
- Delphic forward guidance (1)
- Demand Analysis (1)
- Democratic Legitimacy (1)
- Demokratie <Motiv> (1)
- Demutualization (1)
- Depreciation (1)
- Depths (1)
- Derivat <Wertpapier> (1)
- Derivate (1)
- Designated Market Makers (DMMs) Market Making (1)
- Determinacy (1)
- Determination <Linguistik> (1)
- Deutsche Bundesbank (1)
- Deutscher Aktienindex (1)
- Deutscher Neoliberalismus (1)
- Devisen (1)
- Devisenbörse (1)
- Devisenmarkt (1)
- DiD (1)
- Dictionary (1)
- Dienstleistungsverkehr (1)
- Difference in Difference (1)
- Different Beliefs (1)
- Digital (1)
- Digital Services Act (1)
- Digital art (1)
- Digital footprints (1)
- Digitale Karte (1)
- Digitalization (1)
- Digitalized Markets (1)
- Directors' Dealings (1)
- Directors’ remuneration (1)
- Direktinvestition (1)
- Direktinvestition / Internationale Finanzierung / Kapitalstruktur / Auslandsniederlassung / Steuerbelastung / Deutschland (1)
- Direktor (1)
- Dirinaria (1)
- Disappointment (1)
- Disasters (1)
- Disclosure Framework (1)
- Disclosure regulation (1)
- Discount Broker (1)
- Discount Functions (1)
- Discount Rate Risk (1)
- Discount Rates (1)
- Discourse (1)
- Discretionary Fiscal Policy (1)
- Discrimination (1)
- Disintegration (1)
- Disketten-Clearing-Verfahren (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)
- Dorfkomitees (1)
- Double Auction (1)
- Double Volume Caps (1)
- Downside risk (1)
- Downward Nominal Rigidity (1)
- Drag-along rights (1)
- Drainage (1)
- Dreisprachigkeit (1)
- Drought (1)
- Druckwerk (1)
- Dual Moral Hazard (1)
- Dual-class shares (1)
- Durable consumption (1)
- Duration of Civil Proceedings (1)
- Dynamic Capabilities (1)
- Dynamic Factor Model (1)
- Dynamic Inconsistency (1)
- Dynamic Models (1)
- Dynamic Networks (1)
- Dynamic Optimization (1)
- Dynamic Panel Data Model (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)
- EGC (1)
- ELA (1)
- EM algorithm (1)
- ESCB (1)
- ESG Investing (1)
- ESG lending (1)
- ESG loans (1)
- ESG ratings (1)
- ESG-reporting (1)
- ESM (1)
- ESMA (1)
- EU / European Union (1)
- EU / Europäische Union (1)
- EU Bonds (1)
- EU banks (1)
- EU countries (1)
- EU crisis (1)
- EU enlargement (1)
- EU industrial production (1)
- EU market regulation (1)
- EU proposed Regulation on Artificial Intelligence (1)
- EU-Directives (1)
- EURONET-DIANE (1)
- EZB (1)
- Earliest Sciences (1)
- Early Modern Times (1)
- Early modern criminal law (1)
- Earnings Management (1)
- Econometrics (1)
- Economic Development (1)
- Economic Growth (1)
- Economic Literacy (1)
- Economic Performance (1)
- Economic Recovery (1)
- Economic Reforms (1)
- Economic history (1)
- Economic research (1)
- Economics (1)
- Economics of Information (1)
- Economics of information (1)
- Economies of scale (1)
- Economy (1)
- Education (1)
- Education Subsidy (1)
- Education of Indigenous People (1)
- Efektivitet (1)
- Effect Heterogeneity (1)
- Effective Lower Bound (1)
- Effective lower bound (1)
- Effectiveness (1)
- Effekten (1)
- Effektivität (1)
- Effektivverzinsung (1)
- Efficiency (1)
- Efficiency Wages (1)
- Efficient Allocation (1)
- Efficient Frontier (1)
- Efficient Importance Sampling (1)
- Efficient Return (1)
- Egypt (1)
- Eide (1)
- Eigene Risiko- und Solvenzbewertung (1)
- Eigenheim (1)
- Eigentum (1)
- Einbettung (1)
- Einführung (1)
- Einkommenselastizität (1)
- Einkommensunterschied (1)
- Einlagensicherung (1)
- Einlagensicherungsfonds (1)
- Elasticity (1)
- Electoral Pressure (1)
- Electronic Banking (1)
- Electronic Markets (1)
- Elektronische Bibliothek (1)
- Elementarschadenversicherung (1)
- Elite (1)
- Elitism (1)
- Elitismus (1)
- Embeddedness (1)
- Emerging Market Economies (1)
- Emerging Market Emerging Market (1)
- Emerging Stock Markets (1)
- Emissions (1)
- Empirical methods (1)
- Employee commitment (1)
- Employee rights (1)
- Endogeneity (1)
- Endogenes Wirtschaftswachstum (1)
- Endogenous Asset Market Participation (1)
- Endogenous Beliefs (1)
- Endogenous Gridpoints (1)
- Endogenous gridpoints Method (1)
- Energiepolitik (1)
- Energieversorgung (1)
- Energy Efficiency (1)
- Energy Embargo (1)
- Energy Performance Certificate (1)
- Energy crisis (1)
- Energy efficiency (1)
- Enforcement Delegation (1)
- Englisch (1)
- Enriched Digital Footprint (1)
- Enterprise Risk Management (1)
- Entity matching (1)
- Entity resolution (1)
- Entrepreneurial Activity (1)
- Entrepreneurial finance (1)
- Entropy Measure (1)
- Entry (1)
- Entscheidung (1)
- Entscheidungsprozess (1)
- Entscheidungsregel (1)
- Entscheidungstheorie (1)
- Entstehung (1)
- Entwicklung von Normen (1)
- Entwicklungspolitik (1)
- Environmental, Social, and Corporate Governance (ESG) (1)
- Environmental, social, and governance factors (ESG) (1)
- Epstein-Weil-Zin Preferences (1)
- Epstein-Zin preferences (1)
- Epstein-Zin-Weil recursive preferences (1)
- Equality (1)
- Equation of Exchange (1)
- Equator Principles Association (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)
- Erdoberfläche (1)
- Ergativ (1)
- Erich Gutenberg (1)
- Ersparnis (1)
- Erwachsener, 50-60 Jahre (1)
- Erwachsener, 50-65 Jahre (1)
- Erzählen, pragm. (1)
- Escalation Patterns (1)
- Eskimo (1)
- Estimation (1)
- Estimation Risk (1)
- Estimation efficiency (1)
- Ethereum (1)
- Ethics (1)
- Ethics in International Law (1)
- Ethnizität (1)
- Ethnomethodologie (1)
- Euro <Währung> (1)
- Euro Area Regional and Sectoral Inflation (1)
- Euro Area and US (1)
- Euro, Währung (1)
- Euro-zone Government Bonds (1)
- Euro/Dollar Exchange Rate (1)
- Europe (1)
- European Banking Authority (1)
- European Banking Authority, Single Supervisory Mechanism (1)
- European Capital Markets Union (1)
- European Central Bankor (1)
- European Commision (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 Monetary Fund (1)
- European Shadow Financial (1)
- European Shadow Financial Regulatory Committee (1)
- European Supervisory Authorities (1)
- European System of Central Banks (1)
- European Systemic Risk Board (1)
- European Takeover Directive (1)
- European banks (1)
- European debt crisis (1)
- European household portfolios (1)
- European law (1)
- European market fragmentation (1)
- European regulation (1)
- European stock markets (1)
- European unemployment insurance (1)
- Europäische Aktienmärkte (1)
- Europäische Gemeinschaften (1)
- Europäische Integration (1)
- Eurosystem collateral eligibility (1)
- Evaluation of active labor market policy in East Germany (1)
- Evangelikale Bewegung (1)
- Evidence-based policymaking (1)
- Evolution of Norms (1)
- Evolutorische Wirtschaft (1)
- Excess sensitivity (1)
- Excessive risk taking (1)
- Exchange Rate Channel (1)
- Exchange Rate Mechanism (1)
- Exchange Rate Pass-Through (1)
- Exchange rate regime (1)
- Exchange rate volatility (1)
- Exchange traded funds (1)
- Execution Cost (1)
- Execution Quality (1)
- Executive Remuneration (1)
- Exercise behavior (1)
- Exit Decisions (1)
- Exit Rights (1)
- Exkommunikation (1)
- Exotic options (1)
- Expectation Error (1)
- Expectation formation (1)
- Expectation–Maximisation (1)
- Expected Equity Returns (1)
- Expected Utility Preferences (1)
- Expected shortfall (1)
- Expenditure Survey (1)
- Experience (1)
- Experiences (1)
- Experimental Asset Markets (1)
- Experimental Economics (1)
- Experimental Finance (1)
- Experimentelle Wirtschaftsforschung (1)
- Experten (1)
- Expertocracy (1)
- Explainable machine learning (1)
- Explosive behavior (1)
- Exportrestriktionen für Rohstoffe (1)
- Externalities (1)
- Extracurricular Activities (1)
- Extrapolation (1)
- Extreme Price Movements (1)
- Extreme value theory (1)
- FBSDE (1)
- FDI-intensity (1)
- FX Derivatives (1)
- Factor Structure (1)
- Factor-Augmented Vector Autoregression Model (FAVAR) (1)
- Fair value (1)
- Fair-Value Accounting (1)
- Fake News (1)
- Faktorenanalyse (1)
- Faktorsubstitution (1)
- FamaFrench model (1)
- Familien-GmbH (1)
- Familienbetrieb (1)
- Familiengesellschaft (1)
- Familienkapitalgesellschaft (1)
- Familienpersonengesellschaft (1)
- Family Background (1)
- Family dynamics (1)
- Fat-tails (1)
- Fear of job loss (1)
- Federal Reserve Bank <New York, NY> (1)
- Federalist Papers (1)
- Feedback (1)
- Fiduciary Duties (1)
- Field Experiment (1)
- Filmtheorie (1)
- Filtering (1)
- FinTech and Textual Analysis (1)
- FinTechs (1)
- Finance and Employment (1)
- Financial Assistance (1)
- Financial Constraints (1)
- Financial Contagion (1)
- Financial Crisis 2007/08 (1)
- Financial Decisionmaking (1)
- Financial Distress (1)
- Financial Industry (1)
- Financial Information (1)
- Financial Innovation (1)
- Financial Institution Building (1)
- Financial Integration (1)
- Financial Intermediation (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 Reporting Review Panel (FRRP) (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 integration process (1)
- Financial interests (1)
- Financial intermediation (1)
- Financial market (1)
- Financial openness (1)
- Financial system (1)
- Financing Conditions (1)
- Financing Constraints (1)
- Financing Costs (1)
- Financing Gap (1)
- Finanzderivat / Hedging / Strategie / Volatilität / Stochastischer Prozess / Theorie (1)
- Finanzdienstleistung (1)
- Finanzkapital (1)
- Finanzmakler (1)
- Finanzmarkt (1)
- Finanzmärkte (1)
- Finanzpolitik (1)
- Finanzverfassung (1)
- Finite Normal Mixtures (1)
- Finnisch (1)
- Finnland (1)
- Firm Investment (1)
- Firm Prestige (1)
- Firm Value (1)
- Firm valuation (1)
- Firm-bank relationship (1)
- Firm-specific News (1)
- Firma (1)
- Firmentarifvertrag (1)
- Firms (1)
- First Loss Position (1)
- Fiscal Capacity (1)
- Fiscal Compact (1)
- Fiscal Crisis (1)
- Fiscal Policies (1)
- Fiscal Solidarity (1)
- Fiscal Stabilization (1)
- Fiscal Stimulus Program (1)
- Fiscal Transparency (1)
- Fiscal Union (1)
- Fiscal stress (1)
- Fiscal theory of the price level (1)
- Fiskalunion (1)
- Fixed Income (1)
- Fixed-Income (1)
- Flash Crash (1)
- Flash Memories (1)
- Flat Taxes (1)
- Flexible Altersgrenze (1)
- Flight-to-safety (1)
- Floatation Method (1)
- Florida (1)
- Flotation Costs (1)
- Flüchtlinge (1)
- Fokker-Planck equation (1)
- Fonds (1)
- Fondsmanager (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)
- Fortschritt (1)
- Forum externum (1)
- Forum internum (1)
- Forward error (1)
- Forward-looking models (1)
- Foster-Wallace, David (1)
- Frage (1)
- Framing Effect (1)
- Framing effects (1)
- Framing e↵ects (1)
- Franciscans (1)
- Frankfurt (1)
- Frankfurt (Main) (1)
- Frankfurt <Main, 2004> (1)
- Frankfurt am Main (1)
- Frau (1)
- Free-Riding (1)
- Fremdsprache (1)
- Fremdsprachenlernen (1)
- Frequency Domain (1)
- Frictions (1)
- Friedman-Schwartz's evidence (1)
- Friktionelle Arbeitslosigkeit (1)
- Frühe Neuzeit (1)
- Frühneuzeit (1)
- Fund (1)
- Fund family (1)
- Fundamental Value (1)
- Fundamentalanalyse (1)
- Funds of Funds (1)
- Funktionalismus <Linguistik> (1)
- Futures (1)
- Futures Market (1)
- Futures Markets (1)
- GARCH model (1)
- GARCH-Prozes (1)
- GDP growth (1)
- GFSY (1)
- GIS (1)
- GMM Estimation (1)
- GRI social standards (1)
- Gains from Trade (1)
- Gains from trade (1)
- Gambling (1)
- Game Theory (1)
- Gamma distribution (1)
- Gattungspoetik (1)
- Gattungstheorie (1)
- Gauß-Funktion (1)
- Gegenseitigkeit-Versicherung (1)
- Gehaltsstruktur (1)
- Geistliche Gerichtsbarkeit (1)
- Geld (1)
- Geldangebot (1)
- Geldmenge (1)
- Geldmengensteuerung (1)
- Geldmengenziel (1)
- Geldnachfrage / Wechselkurs / Nicht-Walrasianisches Gleichgewicht / Monetäre Wechselkurstheorie / Schätzung / Vereinigte Staaten / EU-Staaten (1)
- Geldpolitik / Arbeitsmarktflexibilisierung / Lohnrigidität / Konjunktur / Inflationsrate / Allgemeines Gleichgewicht / Dynamisches Modell / Schätzung (1)
- Geldtheorie (1)
- Gemeinsamer Markt (1)
- Gender (1)
- Gender Differences (1)
- Gender Gap (1)
- Gender Issues (1)
- General Equilibrium Asset Pricing (1)
- Generalized Dynamic Factor Model (1)
- Generations (1)
- Generative Grammatik (1)
- Generische Aussage (1)
- Generizität (1)
- Genitiv (1)
- Gent (1)
- Geopolitics (1)
- Gerichtsverfahren (1)
- German Banking (1)
- German Capital Markets Model Case Act (KapMuG) (1)
- German Corporate Governance System (1)
- German Markets Model Case Act (KapMuG) (1)
- German Neoliberalism (1)
- German Reunification (1)
- German constitutional law (1)
- German cooperative banks (1)
- German copyright law (1)
- German corporate governance (1)
- German corporate governance codex (1)
- German natural gas market (1)
- German retirement system (1)
- German savings banks (1)
- Germanic languages (1)
- Germany Inc. (1)
- Gerundium (1)
- Gerundivum (1)
- Geschichte 1800-1900 (1)
- Geschichte 1866-1879 (1)
- Geschichte 1900-2003 (1)
- Geschichte 1920-1922 (1)
- Geschichte 1942-1990 (1)
- Geschichte 1948-2008 (1)
- Geschichte 1953-1998 (1)
- Geschichte 1960-1995 (1)
- Geschichte 1962-1988 (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 1972-1991 (1)
- Geschichte 1973-1993 (1)
- Geschichte 1975-1994 (1)
- Geschichte 1975-1997 (1)
- Geschichte 1975-2002 (1)
- Geschichte 1978-1997 (1)
- Geschichte 1979-1980 (1)
- Geschichte 1979-1983 (1)
- Geschichte 1980-2007 (1)
- Geschichte 1981-1995 (1)
- Geschichte 1983-2004 (1)
- Geschichte 1983-2008 (1)
- Geschichte 1984-1995 (1)
- Geschichte 1984-1999 (1)
- Geschichte 1984-2005 (1)
- Geschichte 1985-1997 (1)
- Geschichte 1986-1998 (1)
- Geschichte 1986-2006 (1)
- Geschichte 1989-2002 (1)
- Geschichte 1990-1996 (1)
- Geschichte 1990-1999 (1)
- Geschichte 1992-1996 (1)
- Geschichte 1992-1997 (1)
- Geschichte 1993-2003 (1)
- Geschichte 1994-2003 (1)
- Geschichte 1994-2006 (1)
- Geschichte 1995 (1)
- Geschichte 1995-1997 (1)
- Geschichte 1995-1998 (1)
- Geschichte 1996-2005 (1)
- Geschichte 1996-2006 (1)
- Geschichte 1998 (1)
- Geschichte 1999-2000 (1)
- Geschichte 1999-2001 (1)
- Geschichte 1999-2003 (1)
- Geschichte 2000-2002 (1)
- Geschichte 2002-2005 (1)
- Geschlecht (1)
- Geschäftsanteil (1)
- Geschäftsbericht (1)
- Geschäftswert (1)
- Geselligkeit (1)
- Gesellschaft (1)
- Gesellschafter (1)
- Gesetzgebung (1)
- Gesundheitserziehung (1)
- Gesundheitswesen (1)
- Gewerbebetrieb (1)
- Gewerbeimmobilien (1)
- Gewerkschaftlicher Organisationsgrad / Gewerkschaft / Mitgliedschaft / Berufsstruktur / Sektorale Beschäftigungsstruktur / Schätzung / Deutschland (1)
- Gewinnermittlung (1)
- Gewinnglättung (1)
- Ghana (1)
- Gig-economy (1)
- Gini (1)
- Gleichgewichtstheorie (1)
- Global Accounting Standards (1)
- Global City (1)
- Global Economy (1)
- Global Financial Class (1)
- Global Irrigation Model (GIM) (1)
- Global Law (1)
- Global Map of Irrigation Areas (GMIA) (1)
- Global Optimization (1)
- Global Temperature (1)
- Global Yield (1)
- Global financial crisis (1)
- Globale Modellierung (1)
- Globales Bewässerungsmodell (1)
- Gläubigerschutz (1)
- Going-private Decisions (1)
- Gold (1)
- Gold Standard (1)
- Goodreads (1)
- Government (1)
- Government Deficit (1)
- Government Spending Multipliers (1)
- Government Spending Shocks (1)
- Government debt (1)
- Government spending multiplier (1)
- Graccident (1)
- Gradpartikel (1)
- Grammatical doubts (1)
- Grammatical gaps (1)
- Grammatische Relation (1)
- Gravity equations (1)
- Great Inflation (1)
- Greek child speech (1)
- Greek child-directed speech (1)
- Greek economic crisis (1)
- Greek language acquisition (1)
- Green Nudging (1)
- Green Quantitative Easing (1)
- Grexit (1)
- Group Interesterest (1)
- Grundsatz der Verhältnismäßigkeit (1)
- Grundschuld (1)
- Grundwasserneubildung (1)
- Größe (1)
- Guatemala (1)
- Gutenberg, Erich (1)
- Habit-formation (1)
- Haftpflichtversicherung (1)
- Haftungsbeschränkung (1)
- Hagelversicherung (1)
- Halakhic literature ; calendar (1)
- Hamilton filter (1)
- Handelskredit (1)
- Handelsrecht (1)
- Handelsrechtsprechung (1)
- Handelsvolumen (1)
- Handlung <Literatur> (1)
- Handschrift (1)
- Hanse (1)
- Harald Maihold (1)
- Haskell (1)
- Haus (1)
- Haushal (1)
- Haushaltsdefizit (1)
- Hausratversicherung (1)
- Hazard estimation (1)
- Headline (1)
- Health Insurance (1)
- Health expenses (1)
- Health jumps (1)
- Hedge Fund (1)
- Hedge Funds (1)
- Hedge funds (1)
- Hedging the Currency Risk (1)
- Heiler (1)
- Heterogeneit (1)
- Heterogeneity (1)
- Heterogeneous Beliefs (1)
- Heterogeneous Firms (1)
- Heterogeneous Preferences (1)
- Heterogeneous agents (1)
- Hidden Orders (1)
- Hidden State (1)
- Hierarchies (1)
- High Frequency Trading (1)
- High-Frequency Trading (HFT) (1)
- High-Level-Forum (1)
- High-dimensional Methods (1)
- High-frequency event study (1)
- Higher Moments (1)
- Higher Moments of Return (1)
- Hirshleifer Effect (1)
- Historical Cost (1)
- Historical Irrigation Data set (HID) (1)
- History & Finance (1)
- History of science (1)
- History-Dependent Policy (1)
- Hochzinspolitik (1)
- Home Bias (1)
- Home Equity (1)
- Homestead exemptions (1)
- Homophily (1)
- Hong Kong (1)
- Hong test (1)
- Hope (1)
- Horizontal Integration (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 Dignity (1)
- Human Right (1)
- Human capital (1)
- Humanism (1)
- Hurricane Katrina (1)
- Hurrikan (1)
- Hybrid Markets (1)
- Hydrologie (1)
- Hyperbolic Distribution (1)
- Hyperinflation (1)
- Hypotaxe (1)
- Hypothekengeschäft (1)
- Hysteresis (1)
- I(2) analysis (1)
- IASC New Structure (1)
- IFRS (1)
- ILO (1)
- IMF Program Participation (1)
- IPBES (1)
- IPS (1)
- IT innovations (1)
- IT standardization (1)
- IV (1)
- IV approach (1)
- IV estimation (1)
- IWRM (1)
- Iberische Halbinsel (1)
- Identification (1)
- Identitätsfindung (1)
- Idiosyncratic Income Risk (1)
- Idiosyncratic volatility puzzle (1)
- Illiquidity (1)
- Imbalances (1)
- Immaterielles Wirtschaftsgut (1)
- Immediacy (1)
- Immigration (1)
- Immobilieninvestments (1)
- Impact of Changing Stock-Market Regulation and Institution (1)
- Impairments (1)
- Imperfect Competition (1)
- Imperfect Knowledge (1)
- Implicit Guarantees (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)
- Incentive Compensation (1)
- Incentives (1)
- Inclusive Finance (1)
- Income Inequality (1)
- Incomplete Contracts (1)
- Incomplete Insurance Contracts (1)
- Incubator (1)
- Incurred loss model (1)
- Independent Component Analysis ICA (1)
- Indeterminacy (1)
- Index Funds (1)
- Index Model (1)
- Index Trigger (1)
- Indexation (1)
- Indexbildung (1)
- Indianersprachen (1)
- Indigene Gerechtigkeit (1)
- Individual Ethics (1)
- Individual Investors (1)
- Individual and Regulatory Ethics (1)
- Individual investors (1)
- Indogermanistik (1)
- Industrie (1)
- Industriegebiet (1)
- Industrieregion (1)
- Industriestaaten (1)
- Industry Classification (1)
- Industry Comparison (1)
- Inefficient Forecasts (1)
- Inflation Beliefs (1)
- Inflation Expectations (1)
- Inflation Forecasting (1)
- Inflation Inertia (1)
- Inflation Rate (1)
- Inflation convergence (1)
- Inflation targeting (1)
- Inflationsbekämpfung (1)
- Influence Activities (1)
- Informal Loans (1)
- Informality of negotiation (1)
- Informalität der Verhandlungen (1)
- Information (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)
- Informationspolitik (1)
- Informationstechnik (1)
- Informationstechnologie (1)
- Informationswert (1)
- Initial Public Offering (1)
- Initial Public Offering (IPO) (1)
- Initial public offerings (1)
- Insider-Outsider-Theorie (1)
- Insiderregeln (1)
- Insolvenz (1)
- Institution Building (1)
- Institution formation (1)
- Institution-building (1)
- Institutional Investor (1)
- Institutional Investors’ Ownership (1)
- Institutional Setting on Underpricing (1)
- Institutional investors (1)
- Institutioneller Anleger (1)
- Institutionenökonomie (1)
- Institutions (1)
- Instrumental (1)
- Insurance Brokers (1)
- Insurance Supervision (1)
- Insurance companies (1)
- Insurer Default Risk (1)
- Integrated Assessment Model (1)
- Integrated Risk Management (1)
- Intellectual Property (1)
- Intensity Models (1)
- Inter-ethnic Conflict (1)
- Interbank Market (1)
- Interbank Markets (1)
- Interdealer Brokerage (1)
- Interest Rate (1)
- Interest Rate Forecasting (1)
- Intergenerational Risk Sharing (1)
- Interim Report (1)
- Interlinearversion (1)
- Intermediated work (1)
- Internal borrower rating (1)
- Internalization (1)
- International Capital Flows (1)
- International Cross-Listings (1)
- International Financial Futures Exchange (1)
- International Financial Futures and Options Exchange (1)
- International Governance (1)
- International Monetary Fund (1)
- International Portfolio Choice (1)
- International Stock Exchange of the United Kingdom and the Republic of Ireland (1)
- International Technocracy (1)
- International Transmission Mechanism (1)
- International finance (1)
- International relationships (1)
- International stock markets (1)
- Internationale Rohstoffabkommen (1)
- Internationale Wettbewerbsfähigkeit (1)
- Internationale Währungspolitik (1)
- Internationaler Terrorismus (1)
- Internationales Investitionsschutzrecht (1)
- Internationales Währungssystem (1)
- Internationalisierung (1)
- Internationalization (1)
- Interne Kontrollen (1)
- Internes Kontrollsystem (1)
- Internet Governance (1)
- Interpretation (1)
- Intertemporal Choice (1)
- Intertextualität (1)
- Intra-Day Volatility (1)
- Intraday Trading Process (1)
- Intratemporal Elasticity of Substitution (1)
- Inuit-Sprache (1)
- Inuktitut (1)
- Invasion (1)
- Inventory Risk (1)
- Investitionsplanung (1)
- Investitionspolitik (1)
- Investitionsrechnung (1)
- Investment Banking (1)
- Investment Decisions (1)
- Investment Funds (1)
- Investment Incentives (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)
- Irrigation (1)
- Irrigation consumptive use (1)
- Irrigation efficiency (1)
- Iteratives Array (1)
- JPMorgan Chase (1)
- JPMorgan Chase Bank (1)
- Job Creation Schemes (1)
- Job Match Quality (1)
- Juden (1)
- Judicial vicar (1)
- Justice (1)
- Justiz (1)
- Justizverwaltung (1)
- Kaingáng (1)
- Kalman Filter (1)
- Kameng River (1)
- Kanuri-Sprache (1)
- Kapitalbedarfsrechnung (1)
- Kapitalgesellschaft (1)
- Kapitalkonzentration (1)
- Karl Polanyi (1)
- Karriere (1)
- Karte (1)
- Katrina (1)
- Kaufentscheidung (1)
- Kaufkraftparität (1)
- Kaufkraftvergleich (1)
- Kaufleute (1)
- Kausativ (1)
- Keynesian models (1)
- Kindersprache (1)
- Kirche (1)
- Klagelieder Jeremias ; Talmud ; Tote Meer ; Ugaritisch (1)
- Kleinkredit (1)
- Kognitive Semantik (1)
- Kommanditgesellschaft auf Aktien (1)
- Kommunikation (1)
- Konditionalsatz (1)
- Konditionenpolitik (1)
- Kongress <Wandlitz, 1997> (1)
- Kongressbericht (1)
- Konjunkturschwankung (1)
- Konkurrent (1)
- Konkurs (1)
- Konsonant (1)
- Konstitutionalismus (1)
- Konsumgütermarkt (1)
- Konsumtiver Bewässerungsbedarf (1)
- Kontextuelle Gleicheit (1)
- Kontrahentenrisiko (1)
- Kontrakttheorie (1)
- Kontrastive Grammatik (1)
- Kontrastive Linguistik , Vergleichende Sprachwissenschaft (1)
- Kontrastive Phonetik (1)
- Kontrastive Phonologie (1)
- Kontrolle (1)
- Konversationsanalyse (1)
- Konzentration <Wirtschaft> (1)
- Kopula (1)
- Koreanisch (1)
- Korpus <Linguistik> (1)
- Korrelation (1)
- Kostenplanung (1)
- Kovarianzanalyse (1)
- Kraftfahrzeugindustrie (1)
- Krankenversicherung (1)
- Krankheit (1)
- Kreditderivat (1)
- Kreditgeber (1)
- Kreditgenossenschaftlicher Verbund (1)
- Kreditgeschäft / Unternehmenskooperation / Vertrag / Bank / Kreditrisiko / Rentabilität / Theorie (1)
- Kreditmanagement (1)
- Kreditrestriktion (1)
- Krise (1)
- Kuanua (1)
- Kultur (1)
- Kulturgeschichte (1)
- Kunstmarkt (1)
- Kurds (1)
- Kursanomalie (1)
- Kursbeeinflussung (1)
- Kursrisiko (1)
- LASSO (1)
- LBO spillovers (1)
- LBOs (1)
- LEN-Modell (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 cost adjustments (1)
- Labor market (1)
- Labour supply (1)
- Lack of Planning (1)
- Laffer Curve (1)
- Lag (1)
- Lagrange-d'Alembert equation (1)
- Lambda Calculus (1)
- Landesbank (1)
- Landeskreditbank Baden-Württemberg (1)
- Langfristiger Kredit (1)
- Language change (1)
- Langzeitarbeitslosigkeit (1)
- Langzeitvertrag (1)
- Laplace Distribution (1)
- Laplace-Verteilung (1)
- Lapse Risk (1)
- Laryngal (1)
- Late Middle Ages (1)
- Latein (1)
- Lateinamerika (1)
- Latency (1)
- Latent Variables (1)
- Latin America (1)
- Lautstärke (1)
- Law (1)
- Law Enforcement (1)
- Law and economics (1)
- Law and finance (1)
- Lead-lag relationship (1)
- Leading indicator (1)
- Learning Effects (1)
- Leasing (1)
- Lebensbedingungen (1)
- Lebensversicherung Rückkauf (1)
- Lebensversicherungen verlangen (1)
- Lebensversicherungszinsrisiko (1)
- Lecanactis (1)
- Legal Grammar (1)
- Legal Institutions (1)
- Legal Transplants (1)
- Legitimacy (1)
- Legitimität (1)
- Legjitimitet (1)
- Lehrer (1)
- Lehrerbildung (1)
- Leibrente (1)
- Leipzig <2001> (1)
- Leitender Angestellter (1)
- Lender of Last Resort / Finanzmarkt / Wirtschaftspolitische Wirkungsanalyse (1)
- Lender of last resort (1)
- Lernen (1)
- Letrec-Kalkül (1)
- Leverage (1)
- Leverage Effect (1)
- Leveraged buyouts (1)
- Lexikalisierung (1)
- Lexikologie (1)
- Libra (1)
- Lieferant (1)
- Life Events (1)
- Life course transitions (1)
- Life-cycle hypothesis (1)
- LifeCycle Model (1)
- Liikanen Commission (1)
- Liikanen-Kommission (1)
- Limburg (1)
- Limit Order (1)
- Limit Order Book Market (1)
- Limit Order Book Slopes (1)
- Limit Order Books (1)
- Limited partnerships (1)
- Limits to Arbitrage (1)
- Linked Data (1)
- Lintner dividend model (1)
- Liquidation Preferences (1)
- Liquidity Coinsurance (1)
- Liquidity Crisis (1)
- Liquidity Facilities (1)
- Liquidity Premium (1)
- Liquidity Shock (1)
- Liquidity Shocks (1)
- Liquidity premium (1)
- Liquidity provider incentives (1)
- Liquidity provision (1)
- Liquidity risk (1)
- Listed Private Equity (1)
- Listing Requirements (1)
- Literacy (1)
- Literarisches Leben (1)
- Literaturrezeption (1)
- Living Wills (1)
- Livingston Survey (1)
- Loan Losses (1)
- Loan Pricing (1)
- Loan losses (1)
- Loan market competition (1)
- Loan to income ratio (1)
- Loan to value ratio (1)
- Lobbying (1)
- Lobbyismus (1)
- Local projection (1)
- Locus of control (1)
- Lohnrigidität (1)
- Lohnstarrheit (1)
- Lohnstruktur (1)
- Lohnstückkosten (1)
- Lokale Präposition (1)
- Lokativ (1)
- London (1)
- Long Term Investment (1)
- Long-Run Risk (1)
- Long-Run Underperformance (1)
- Long-run risk (1)
- Long-term Contracts (1)
- Longevity Risk (1)
- Loss-aversion (1)
- Low Interest Rates (1)
- Low-emission vehicles (1)
- Lucas paradox (1)
- Lyrik (1)
- L´evy framework (1)
- MBS (1)
- MIFID (1)
- MIRCA2000 (1)
- ML <Programmiersprache> (1)
- MLA International bibliography of books and articles on the modern languages and literatures (1)
- MMFs (1)
- MTS Bond Market (1)
- Maastricht criteria (1)
- Macroeconomic Forecasting (1)
- Macroeconomic Fundamentals (1)
- Macroeconomic Modeling (1)
- Macroeconomic Models (1)
- Macroeconomic News (1)
- Macroeconomic News Announcements (1)
- Macroeconomics (1)
- Macroprudential policy (1)
- Make or buy (1)
- Makroökonomischer Einfluß (1)
- Malaiisch (1)
- Male and Female Differences (1)
- Mali (1)
- Malmidea (1)
- Malmideaceae (1)
- Managerial Accounting (1)
- Managerial rent (1)
- Managing Innovations (1)
- Mandatory Law (1)
- Manipulation (1)
- Mark-to-Market Accounting (1)
- Mark-to-market accounting (1)
- Market (in)completeness (1)
- Market Concentration (1)
- Market Data Sales (1)
- Market Discipline (1)
- Market Fragility (1)
- Market Integrity (1)
- Market Linkage (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 risk premium (1)
- Market sentiment (1)
- Market volatility (1)
- MarketMicrostructure Noise (1)
- Markov Perfect Equilibrium (1)
- Markov Processes (1)
- Markov switching models (1)
- Markov-Modell (1)
- Markov-Prozess (1)
- Markov-switching DSGE (1)
- Markov–Switching (1)
- Marktrisiko (1)
- Marktwirtschaft (1)
- Maschinelle Übersetzung (1)
- Maximum Likelihood (1)
- Maximum likelihood estimation (1)
- Media (1)
- Medicare (1)
- Medien (1)
- Medienberichterstattung (1)
- Medizin (1)
- Mehrgenerationenmodell (1)
- Mehrheitsaktionär (1)
- Mehrproduktbetrieb (1)
- Melanesische Sprachen (1)
- Membership (1)
- Menschenrecht (1)
- Menschenwürde (1)
- Menschheit (1)
- Mental models (1)
- Merchandise trade (1)
- Merger (1)
- Merger Arbitrage (1)
- Meritocracy (1)
- Methodologie (1)
- Mexico (1)
- Mexiko (1)
- MiCA (1)
- MiFIR (1)
- Michel Foucault (1)
- Microprudential Insurance Regulation (1)
- Microstructure Noise (1)
- Middle East and North Africa (1)
- Mikroprudenzielle Versicherungsregulierung (1)
- Mikrostrukturtheorie <Kapitalmarkttheorie> (1)
- Mikroökonomie (1)
- Minderheitsaktionär (1)
- Mini-flash crash (1)
- Minimum Reserves (1)
- Minimum Return Guarantees (1)
- Minority Shareholder Protection (1)
- Mis-selling (1)
- Mistrauen (1)
- Mistrust (1)
- Mitbestimmung (1)
- Mitbewohner (1)
- Mitgliedschaft (1)
- Mitigation (1)
- Mittelsperson (1)
- Mixed-frequency data (1)
- Mixing Frequencies (1)
- Mixture Distributions (1)
- Mnemosyne (1)
- Mobilität (1)
- Model Adequacy (1)
- Model Risk (1)
- Model Selection (1)
- Model evaluation (1)
- Model uncertainty (1)
- Model-based regulation (1)
- Modell (1)
- Models and Applications (1)
- Moderne (1)
- Modernity (1)
- Modus (1)
- Monetarism (1)
- Monetary (1)
- Monetary Model (1)
- Monetary Models (1)
- Monetary Policy Implementation (1)
- Monetary Policy Instruments (1)
- Monetary Policy Instruments of the ECB (1)
- Monetary Policy Surprises (1)
- Monetary Policy Transmission (1)
- Monetary Targeting (1)
- Monetary growth models (1)
- Monetary macroeconomics (1)
- Monetary policy strategy (1)
- Monetary-fiscal interaction (1)
- Monetäre Wachstumstheorie (1)
- Money Demand Functions (1)
- Money Market (1)
- Money Market Funds (1)
- Money demand (1)
- Money non neutrality (1)
- Mongolia (1)
- Monopol (1)
- Montague-Grammatik (1)
- Monte Carlo Likelihood (1)
- Monte Carlo Methods (1)
- Monte Carlo integration (1)
- Monte Carlo simulations (1)
- Monte-Carlo-Simulation (1)
- Moral Hazar (1)
- Morality (1)
- Morphem (1)
- Morphonologie (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)
- Multifaktorenmodelle (1)
- Multilayer networks (1)
- Multiline Insurance (1)
- Multinationales Unternehmen (1)
- Multiple Blockholders (1)
- Multiple Equilibria (1)
- Multiple Treatment (1)
- Multiple equilibria (1)
- Multiple factor models (1)
- Multiplicative Error Models (1)
- Multisporidea (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)
- NATO (1)
- NCAs (1)
- NFT (1)
- NLP (1)
- Nachhaltige Mobilitätsplanung (1)
- Nachholende Entwicklung (1)
- Nama-Sprache (1)
- Narrative Approach (1)
- Narrative Identification (1)
- Narratives of Justification (1)
- Narrow Banking (1)
- Nasdaq (1)
- Nash Bargaining (1)
- Nash equilibrium (1)
- National Accounting (1)
- Natural Language Processing (1)
- Natural Resources (1)
- Natural experiments (1)
- Naturzustand (1)
- Natürliche Ressourcen (1)
- Nebensatz (1)
- Negative home equity (1)
- Negativzinsen (1)
- Nelson-Siegel curve (1)
- Nelson-Siegel model (1)
- Neoklassische Theorie (1)
- Neoliberalism (1)
- Neopatrimonialism (1)
- Neoprotoparmelia (1)
- Net Foreign Assets (1)
- Net Worth (1)
- Net irrigation water requirement (1)
- Net-zero transition (1)
- Network Combination (1)
- Network Communities (1)
- Network theory (1)
- Netzneutralität (1)
- Netzwerktheorie (1)
- Neuer Markt, Börse (1)
- Neues Produkt (1)
- Neural Network (1)
- Neurolinguistik (1)
- Neuseeland (1)
- Neutralität des Geldes (1)
- New Keynesian (1)
- New Keynesian DSGE (1)
- New Keynesian Models (1)
- New Keynesian macro-epidemic models (1)
- New Keynesian models (1)
- New Neoclassical synthesis (1)
- New-Keynesian Models (1)
- Newari (1)
- News (1)
- News Releases (1)
- News Sentiment (1)
- News media sentiment (1)
- Next Generation EU (1)
- Nichtdeterminismus (1)
- Nichtlineare Analysis (1)
- Nichtlineare Zeitreihenanalyse (1)
- Nichtlineares mathematisches Modell (1)
- Nichtparametrische Statistik (1)
- Nichtparametrisches Verfahren (1)
- Nichtregierungsorganisation (1)
- Nilosaharanische Sprachen (1)
- Nominal Rigidities (1)
- Nominal Wage Rigidity (1)
- Nominalphrase (1)
- Non-Compete Agreements (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 Cointegration (1)
- Nonlinear Filtering (1)
- Nonlinear Optimal Policy (1)
- Nonlinear Policy (1)
- Nonlinear solution methods (1)
- Nonlinearity (1)
- Nordfrankreich (1)
- Normative Ordnungen (1)
- Northern France (1)
- Norwegian banking crisis (1)
- Number of Lenders (1)
- Number of lenders (1)
- Numerical Solution (1)
- Numerus (1)
- Nutzen (1)
- Nutzenfunktion (1)
- Nutzenmaximierung (1)
- Nährstoff (1)
- OPEC (1)
- ORSA (1)
- OTC (1)
- OTC Markets (1)
- OTC derivatives (1)
- OTC-Märkte (1)
- Oaxaca (1)
- Oberflächenstruktur <Linguistik> (1)
- Obfuscation (1)
- Obstruent (1)
- Occasionally Binding Constraint (1)
- Occasionally Binding Constraints (1)
- Offizial (1)
- Oil (1)
- Oil Industry (1)
- Oil market (1)
- Older Population (1)
- On-the-Job Search (1)
- Online Algorithms (1)
- Online Poker (1)
- Online Surveys (1)
- Open Banking Platform Germany (1)
- Open Economy (1)
- Open banking (1)
- Opening Auction (1)
- Opening Call Auction (1)
- Opening Price (1)
- Operational Risk (1)
- Operational Semantics (1)
- Opfer (1)
- Opposition <Linguistik> (1)
- Optimal Asset Allocation (1)
- Optimal Industrial Policies (1)
- Optimal Policy (1)
- Optimal Policy Mix (1)
- Optimal Regulation (1)
- Optimal monetary policy (1)
- Optimalitätstheorie (1)
- Optimierung (1)
- Option (1)
- Option Pricing (1)
- Option-implied Risk (1)
- Option-pricing Model (1)
- Options (1)
- Optionsgeschäft (1)
- Optionshandel (1)
- Optionsmarkt (1)
- Optionspreistheorie / Hedging / Stochastischer Prozess / Theorie (1)
- Order Entry (1)
- Order Flow (1)
- Order Placement Strategy (1)
- Orderbuch (1)
- Organisationsentwicklung (1)
- Organisationswandel (1)
- Organisatorisches Lernen (1)
- Organizational Economics (1)
- Original sin (1)
- Oslo <1999> (1)
- Ost-West-Konflikt (1)
- Osteuropa (1)
- Osteuropäische Einwanderin (1)
- Output Gap Uncertainty (1)
- Output Growth (1)
- Output and Inflation Persistence (1)
- Outright Monetary Transactions (1)
- Over-Allotment Option (1)
- Over-Confidence (1)
- Overabundance (1)
- Overbidding (1)
- Overvaluation Hypothesis (1)
- Own Self Risk Assessment (1)
- Ownership (1)
- Ownership structures (1)
- PPP (1)
- Paging Algorithms (1)
- Palatographie (1)
- Palauisch (1)
- Pandemic (1)
- Panel (1)
- Panel Analysis (1)
- Panel Analysis of Bidding Behavior (1)
- Panel Cointegration (1)
- Panel Sample Selection Models (1)
- Panel Threshold Models (1)
- Panel VAR (1)
- Panelanalyse (1)
- Parameter Uncertainty (1)
- Parataxe (1)
- Pareto Inferior (1)
- Pareto-Optimum (1)
- Paris Convention (1)
- Parish priest (1)
- Parteistaat (1)
- Partial Information (1)
- Partikel (1)
- Patent (1)
- Patholinguistik (1)
- Pathosformel (1)
- Patience (1)
- Paul Volcker (1)
- Paycheck Protection Program (1)
- Paycheck Sensitivity (1)
- Peace Order (1)
- Pecuniary Externalities (1)
- Pecuniary Externality (1)
- Peer Effects (1)
- Peer effects (1)
- Peers (1)
- Pension (1)
- Pension Finance (1)
- Pension system (1)
- Pensionsgeschäft (1)
- Pensionskasse (1)
- Perceptions (1)
- Perfect Sequential Equilibrium (1)
- Performance Gap (1)
- Performance Measurement (1)
- Permanent and Transitory Decomposition (1)
- Permanent-Income Hypothesis (1)
- Persistent and Transitory Income Shocks (1)
- Personal Finance (1)
- Personal bankruptcy (1)
- Personalaufwendung (1)
- Personality traits (1)
- Personalleiter (1)
- Personnel Economics (1)
- Petitionen (1)
- Petroleum-based Economies (1)
- Pfarrer (1)
- Phillips curve (1)
- Philosophy of criminal law (1)
- Phonologische Opposition (1)
- Phrasenstrukturgrammatik (1)
- Pierre Bourdieu (1)
- Pivotality (1)
- Plaintiff Lawyers (1)
- Planning (1)
- Planungsrechnung (1)
- Pluralismus (1)
- Point-Mass Mixture (1)
- Point-mass Mixture (1)
- Poland (1)
- Polanyi, Karl (1)
- Policy Analysis (1)
- Policy Center (1)
- Policy Effects (1)
- Policy debates (1)
- Policy measures in the EU (1)
- Political Participation (1)
- Political Union (1)
- Politics and Law Committees (1)
- Politische Beteiligung (1)
- Politische Union (1)
- Pollution (1)
- Polynomielles Wortproblem (1)
- Population Aging (1)
- Populism (1)
- Portfolio (1)
- Portfolio Allocation (1)
- Portfolio Inertia (1)
- Portfolio Management (1)
- Portfolio Rebalancing (1)
- Portfolio-Investition (1)
- Portfolio-Management (1)
- Portfoliooptimierung (1)
- Portfolios (1)
- Portugiesisch / Brasilien (1)
- Positive semidefiniteness (1)
- Potential Output (1)
- Power (1)
- Prag <2008> (1)
- Pre-Opening (1)
- Pre-averaging (1)
- Preference Interaction (1)
- Preference Stability (1)
- Preference Uncertainty (1)
- Preference for early resolution of uncertainty (1)
- Preference survey module (1)
- Preisdifferenzierung (1)
- Preisdiskriminierung (1)
- Preiselastizität (1)
- Preisstabilität (1)
- Preisänderung (1)
- Pressemitteilungen (1)
- Prestige (1)
- Price Competition (1)
- Price Expectations (1)
- Price Impact (1)
- Price Pressures (1)
- Price Stability (1)
- Price Uncertainty (1)
- Price discovery (1)
- Price discrimination (1)
- Price elasticity of gasoline demand (1)
- Pricing Determinants (1)
- Pricing bubbles (1)
- Pride (1)
- Principal Component Analysis PCA (1)
- Principal Independent Component Analysis PICA (1)
- Principal-Agent (1)
- Principle of guilt (1)
- Prior (1)
- Private Altersversorgung (1)
- Private Business (1)
- Private benefits (1)
- Private debt (1)
- Private ordering (1)
- Privater (1)
- Privatization (1)
- Privilegien (1)
- Prize Stabilization (1)
- Pro-Rata (1)
- Probabilistic Insurance (1)
- Probability Weighting Function (1)
- Product returns (1)
- Production (1)
- Production Economy (1)
- Production, Saving, Consumption and Investment Forecasting (1)
- Production-based asset pricing (1)
- Productivity and Growth (1)
- Produktivitätsunterschiede (1)
- Program Evaluation (1)
- Programmiersprachen (1)
- Programmkalküle (1)
- Programmkorrektheit (1)
- Prokurist (1)
- Prokuristin (1)
- Propagation mechanism (1)
- Proprietary Trading (1)
- Prosociality (1)
- Prosodie (1)
- Prostituierte (1)
- Prototyp <Linguistik> (1)
- Prudence (1)
- Prudential filter (1)
- Prädikativsatz (1)
- Psilolechia (1)
- Public Domain (1)
- Public Finance (1)
- Public Goods (1)
- Public Housing (1)
- Public Policy (1)
- Public financial news (1)
- Public pension funds (1)
- Public-Private Partnerships (1)
- Publizität (1)
- Puffer (1)
- Pump-and-dump schemes (1)
- Punishment (1)
- Put-Option (1)
- Pyrrhospora (1)
- Pyxine (1)
- QE (1)
- Quadratic Variation (1)
- Qualität (1)
- Quantile Causality (1)
- Quantile Regression (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)
- R&D policy (1)
- RBC (1)
- RCT (1)
- REITs (1)
- RNN (1)
- Raiffeisenbank (1)
- Ramsey planner (1)
- Range-based estimation (1)
- Ranking (1)
- Rasse (1)
- Rassentheorie (1)
- Rate Distortion Theory (1)
- Rating Agencies (1)
- Rating Process (1)
- Rational Inattention (1)
- Rationale Erwartung (1)
- Raum (1)
- Reaction Function (1)
- Reaktionsfunktion (1)
- Real Estate (1)
- Real Estate Investments (1)
- Real Estate Securities (1)
- Real Exchange Rate (1)
- Real GDP (1)
- Real Interest Rates (1)
- Real Wage Rigidities (1)
- Real effects (1)
- Real estate (1)
- Real options (1)
- Real-Time Data (1)
- Realer Wechselkurs (1)
- Realization Utility (1)
- Realized Kernel (1)
- Realized Volatility (1)
- Realoption (1)
- Realzins (1)
- Reason (1)
- Reasons (1)
- Rechtfertigung (1)
- Rechtspluralismus (1)
- Rechtsprechung (1)
- Rechtsstreitigkeiten (1)
- Rechtssubjekt (1)
- Rechtsverbindlichkeit (1)
- Rechtsvereinheitlichung (1)
- Record resolution (1)
- Recursive Least Squares (1)
- Recursive Saddlepoint Method (1)
- Recursive Utility (1)
- Redemptions (1)
- Reduktion (1)
- Reduktionssystem (1)
- Reference Point (1)
- Referenz <Linguistik> (1)
- Referenzidentität (1)
- Referrals (1)
- Regenerative Energie / Wasserstoff / Halbmetall / Dezentrale Energieversorgung (1)
- Regional Entrepreneurship (1)
- Regional Inflation Dynamics (1)
- Regionale Arbeitsteilung (1)
- Regression / Schätztheorie / Theorie (1)
- Regression Discontinuity (1)
- Regret (1)
- Regularization (1)
- Regulation Capital Requirements (1)
- Regulation of Financial Institutions (1)
- Regulations (1)
- Regulatory Arbitrage (1)
- Regulatory Capture (1)
- Regulatory Committee (1)
- Regulatory Ethics (1)
- Related Party Transactions (1)
- Relationship banking (1)
- Relative Price Variability (1)
- Religion (1)
- Remix (1)
- Rent-Seeking (1)
- Renten (1)
- Rents (1)
- René Girard (1)
- Reorganization (1)
- Repeated Games (1)
- Repeated Principal-Agent Model (1)
- Repo Markets (1)
- Repo Specialness (1)
- Reporting Standards (1)
- Representative Consumer (1)
- Requirements (1)
- Research and development (1)
- Research design (1)
- Reserve Orders (1)
- Reserve requirements (1)
- Residual Income (1)
- Resiliency (1)
- Resolution Planning (1)
- Resource Acquisition (1)
- Responsible Practice of Law (1)
- Responsible investment (1)
- Restructuring (1)
- Resultativ (1)
- Retail Banking (1)
- Retail Challenge (1)
- Retail gasoline price (1)
- Retirement Accounts (1)
- Retirement Security (1)
- Retirement Seminars (1)
- Retirement Welfare (1)
- Retirement and Retirement Policies (1)
- Retirement planning (1)
- Retirement saving (1)
- Return (1)
- Return Predictability (1)
- Return Risk (1)
- Return predictability (1)
- Returns to experience (1)
- Reversible Jump Markov Chain Monte Carlo (1)
- Revisions (1)
- Revolving Debt (1)
- Rhizocarpon (1)
- Right to Justification (1)
- Rights (1)
- Rights Offerings (1)
- Risikoaggregation (1)
- Risikoanalyse (1)
- Risikoaversion (1)
- Risikobegrenzung (1)
- Risikobereitschaft (1)
- Risikohaftung (1)
- Risikokapitalallokation (1)
- Risikokommunikation (1)
- Risikomessung (1)
- Risk Management of Insurance Companies (1)
- Risk Measurement (1)
- Risk Pooling (1)
- Risk Taking (1)
- Risk aggregation (1)
- Risk capital allocation (1)
- Risk channel (1)
- Risk communication (1)
- Risk limiting (1)
- Risk measurement (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)
- Robo-Advising (1)
- Roboter (1)
- Robust Simple Rules (1)
- RogueBlock (1)
- Rohstoffkonflikte (1)
- Romangestalt (1)
- Romania (1)
- Root causes (1)
- Rousseau (1)
- Routine Medical Care (1)
- Rubin Causal Model (1)
- Ruhegeld (1)
- Rule conflicts (1)
- Rule-of-Thumb Consumers (1)
- Russian Economy (1)
- Russian Sanction (1)
- Russischer Einwanderer (1)
- Russland (1)
- Rwanda (1)
- Rènyi mutual information (1)
- Réunion (1)
- S corporations (1)
- S&P 500 (1)
- SEC (1)
- SHARE, Projekt (1)
- SIFI (1)
- SME Trading (1)
- SPR (1)
- SRB (1)
- SRF (1)
- SRM (1)
- SSM (1)
- STAR GARCH (1)
- STS (simple, transparent, and standardized securitizations) (1)
- SUMP (1)
- Sachversicherung (1)
- Sacrifice (1)
- Salience (1)
- Salmantizenser (1)
- Sammlung (1)
- Samoanisch (1)
- Sampling Schemes (1)
- Sanktionen (1)
- Satz (1)
- Satzakzent (1)
- Satzanalyse (1)
- Satztyp (1)
- Saving Behavior (1)
- Saving Decisions (1)
- Saving puzzles (1)
- Savings (1)
- Say on Pay (1)
- Scapegoat mechanism (1)
- Scenario (1)
- Scenario analysis (1)
- Schadenversicherung (1)
- Schauplatz (1)
- Schengen (1)
- Schneeballsystem (1)
- Schuldner (1)
- Schuldnerland (1)
- Schuldprinzip (1)
- Schule (1)
- Schwarz <Motiv> (1)
- Scrum (1)
- Search Frictions (1)
- Search Model (1)
- Seasoned Equity Offerings (1)
- Secondary Loan Markets (1)
- Sectoral Asset Diversification (1)
- Secularisation (1)
- Securities Market Regulation (1)
- Securities Regulation (1)
- Securities regulation (1)
- Segmentation (1)
- Seitenersetzungsstrategie (1)
- Selbstorganisierende Karte (1)
- Self Control (1)
- Self-Control (1)
- Self-exciting Processes (1)
- Self-exciting point process (1)
- Selling Behavior (1)
- Selling Decisions (1)
- Seltenerdmetall (1)
- Semiparametric Model (1)
- Senegal (1)
- Sentiment Analysis (1)
- Sepharden ; Jüdisches Religionsgesetz (1)
- Sequential Policy (1)
- Serialverb-Konstruktion (1)
- Services Trade (1)
- Settlement (1)
- Settlement Latency (1)
- Shadow Banking (1)
- Shannon capacity (1)
- Shareholder Letters (1)
- Shareholder Rights Directive (1)
- Shareholder wealth (1)
- Sharing (1)
- Shitstorms (1)
- Short Selling Constraints (1)
- Short-run Risk (1)
- Short-run and long-run inflation expectations (1)
- Short-time work (1)
- Shortfall (1)
- Sicherheitenmarge (1)
- Signaling Game (1)
- Silbermarkt (1)
- Similarity (1)
- Similarity encoding (1)
- Simulation (1)
- Sin Stocks (1)
- Single Banking Market (1)
- Single Resolution Mechanism (SRM) (1)
- Single Supervisy Mechanism (1)
- Sinologie (1)
- Sipmaniella (1)
- Skalenertrag (1)
- Skonto (1)
- Slow-Moving Capital (1)
- Small Business (1)
- Small Open Economy Models (1)
- Smoothing (1)
- Sociability (1)
- Social (1)
- Social Capital (1)
- Social Credit System (1)
- Social Impact (1)
- Social Interactions (1)
- Social Learning (1)
- Social Media (1)
- Social Norms (1)
- Social Order (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)
- Socially responsible investments (1)
- Societal Modernization (1)
- Society (1)
- Socio-Economic Development (1)
- Socioeconomic Status (1)
- Sociology (1)
- Sociology of Finance (1)
- Soft Information (1)
- Soft infomation (1)
- Software (1)
- Softwarehaus (1)
- Softwareindustrie (1)
- Solidarity (1)
- Solidarität (1)
- Solvabilitätsrichtlinien (1)
- Solvency regulation (1)
- Sotho (1)
- South of Sahara (1)
- Southern Africa (1)
- Souveränität (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 default (1)
- Sovereign guarantees (1)
- Sovereign risk (1)
- Sovereign wealth funds (1)
- Sovereignty (1)
- Sovranitet (1)
- Sowjetunion (1)
- Sozialausgaben (1)
- Soziale Norm (1)
- Soziale Situation (1)
- Soziale Ungleichheit (1)
- Soziales Netzwerk (1)
- Soziales System (1)
- Sozialhilfe (1)
- Sozialordnung (1)
- Sozialstaat (1)
- Sozialstaatsprinzip (1)
- Sozialversicherung (1)
- Soziokultureller Wandel (1)
- Spaltsatz (1)
- Sparse estimation (1)
- Sparsity (1)
- Spatial autoregressive model (1)
- Specialist Trading (1)
- Spectral Decomposition (1)
- Speculative bubbles (1)
- Speicherbedarf (1)
- Spende (1)
- Spezifität (1)
- Spieltheorie (1)
- Spike–and–Slab prior (1)
- Spill-over-Effekt (1)
- Spillover Effects (1)
- Spillover-Effekte (1)
- Spillovers (1)
- Sportwissenschaft (1)
- Sprachanalyse (1)
- Sprachentwicklung (1)
- Sprachkompetenz (1)
- Sprachstatistik (1)
- Sprachtod (1)
- Sprachvariante (1)
- Sprachverarbeitung (1)
- Spätmittelalter (1)
- Spätscholastik (1)
- Squeeze-Out (1)
- Staat (1)
- Staatsangehörigkeit (1)
- Staatsanleihe Staatsanleihe (1)
- Staatsaufsicht (1)
- Stabilisierung (1)
- Stability (1)
- Stability and Growth Pact (1)
- Stabilität (1)
- Stablecoins (1)
- Stages (1)
- Stagnation (1)
- Standard Setting (1)
- Standards (1)
- Standortfaktor (1)
- Standortwahl (1)
- Start-ups (1)
- State-Dependent Pricing (1)
- States (1)
- Stationarity (1)
- Stationary Equilibrium (1)
- Stativ <Grammatik> (1)
- Stay-Home (1)
- Sterling (1)
- Steuer (1)
- Steuerprogression (1)
- Steuerrückstellung (1)
- Steuersatz (1)
- Stickstoffhaushalt (1)
- Sticky Information (1)
- Stigmatochroma (1)
- Stilistik (1)
- Stimme (1)
- Stimmhaftigkeit (1)
- Stimmlosigkeit (1)
- Stochastic Discount Factor (1)
- Stochastic General Equilibrium Model (1)
- Stochastic Growth Model (1)
- Stochastic Search Variable Selection (1)
- Stochastic jumps (1)
- Stochastic volatility (1)
- Stochastische dynamische Optimierung (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)
- Stone-Geary preferences (1)
- Stornorisiko (1)
- Strafe für fremde Schuld (1)
- Strafrecht der Frühen Neuzeit (1)
- Strafrechtsphilosophie (1)
- Straftheologie (1)
- Strategic Complementarity (1)
- Strategic investors (1)
- Strategischer Rohstoff (1)
- Striktheitsanalyse (1)
- Structural Bank Reform (1)
- Structural Change (1)
- Structural VAR (1)
- Structural VAR Approach (1)
- Structural estimation (1)
- Structural policies (1)
- Structured retail products (1)
- Struktur (1)
- Sturmversicherung (1)
- Ständige Souveränität über Natürliche Ressourcen (1)
- Störerhaftung (1)
- Stückkosten (1)
- Subjectivation (1)
- Subjective Survival Beliefs (1)
- Subjective expectations (1)
- Subsidization (1)
- Success Rates (1)
- Such-Matching- Sortierung (1)
- Suffix (1)
- Superlative (1)
- Supervision (1)
- Supervisory Achitecture (1)
- Supervisory Relief Measures (1)
- Suppire-Sprache (1)
- Surrender (1)
- Surrender Options (1)
- Surveillance (1)
- Survey (1)
- Survey Methods (1)
- Sustainability-Linked Bonds (1)
- Sustainability-Linked Loans (1)
- Sustainabilty (1)
- Sustainable Mobility Planning (1)
- Sustainable finance literacy (1)
- Suárez (1)
- Swap (1)
- Swiss Army Knife (1)
- Sydney Stock Exchange (1)
- Symbolic Power (1)
- Syndicated Loans (1)
- Syndication (1)
- Syntaktische Kongruenz (1)
- Systematisches Risiko (1)
- Systemic events (1)
- Systemisches Risiko (1)
- Szenarioanalyse (1)
- Säkularisierung (1)
- Sündenbock-Mechanismus (1)
- TARP (1)
- TIPS–Treasury puzzle (1)
- TLTRO (1)
- TNN (1)
- TNNs (1)
- TRACE (1)
- TRIPS Agreement (1)
- Tageswert (1)
- Tail Risk (1)
- Tail risk (1)
- Takens-Grassberger correlation integral (1)
- Takeover speculation (1)
- Takeovers (1)
- Tapellaria (1)
- Target 2 (1)
- Target Costing (1)
- Targeting (1)
- Tax Cuts (1)
- Tax Cuts and Jobs Act (1)
- Tax Distortions (1)
- Tax Multiplier (1)
- Tax Rebates (1)
- Taxonomie (1)
- Taylor-Regel (1)
- Technologieunternehmen (1)
- Technology Adoption (1)
- Technology Park (1)
- Technology Shocks (1)
- Technology spillover (1)
- Teilrechtsfähigkeit (1)
- Temporal aggregation (1)
- Tempus (1)
- Term Structure (1)
- Term Structure Modelling (1)
- Terminmarkt (1)
- Terminplanung (1)
- Terms of Trade (1)
- Terrmersetzungssystem (1)
- Test (1)
- Testen (1)
- Textual Sentiment (1)
- Thai (1)
- Tharaka (1)
- The Community Reinvestment Act (1)
- Theology of punishment (1)
- Thetik (1)
- Thomism (1)
- Thomismus (1)
- Threshold Error Correction (1)
- Tick Size (1)
- Tiefenstruktur (1)
- Time variation (1)
- Time-Consistency (1)
- Time-varying networks (1)
- Timing (1)
- Timing risk (1)
- Tobin tax (1)
- Tobit panel data regressions (1)
- Tomás de Mercado (1)
- Tone (1)
- Too big to fail (1)
- Too-Big-To-Fail (1)
- Too-big-to-fail (1)
- Top 1% (1)
- Topik (1)
- Tourismus (1)
- Toxic Emissions (1)
- Tractatus de natura iurium et bonorum regis (1)
- Trade (1)
- Trade Integration (1)
- Trade sales (1)
- Trade-sale Rights (1)
- Trademark (1)
- Trading volume (1)
- Tradition (1)
- Trados (1)
- Tragödie (1)
- Transaction Data (1)
- Transaction costs (1)
- Transformation (1)
- Transition (1)
- Transition Financing (1)
- Transitional Dynamics (1)
- Transmission Mechanism (1)
- Transnational Capitalist Class (1)
- Transnational Citizenship (1)
- Transnational Justice (1)
- Transparency Aversion (1)
- Transparenz Aversion (1)
- Transportation (1)
- Treasury Futures (1)
- Tree-based models (1)
- Trennbanken (1)
- Triple Difference Estimator (1)
- Trust Game (1)
- Trustworthiness (1)
- Tunneling (1)
- Turning points (1)
- Tying (1)
- Typologie (1)
- U.S. Banking Industry (1)
- U.S. oil independence (1)
- UBS - Schweizerische Bankgesellschaft (1)
- UCITS (1)
- UDRP (1)
- UK (1)
- UK-Environment (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)
- USA / Securities and Exchange Commission (1)
- Uganda (1)
- Umbenennung (1)
- Umbrella Policies (1)
- Unabhängige Komponentenanalyse (1)
- Unconventional Monetary policy (1)
- Under Risk (1)
- Underwriter (1)
- Underwriter Fee (1)
- Undiversifiable Earnings Risk (1)
- Unendliches Spiel (1)
- Ungarn (1)
- Ungleichheit (1)
- Unit root (1)
- United Nations (1)
- Universal Banking (1)
- Universal banks (1)
- Unobserved Component Models (1)
- Unsichtbarer Handel (1)
- Unterbewertung (1)
- Unternehmensberater (1)
- Unternehmensberaterin (1)
- Unternehmensberatung (1)
- Unternehmensbewertung (1)
- Unternehmensentwicklung (1)
- Unternehmenserfolg (1)
- Unternehmensgröße (1)
- Unternehmenskauf (1)
- Unternehmenskonzentration (1)
- Unternehmensmodell (1)
- Unternehmenstheorie (1)
- Unternehmenswachstum (1)
- Up-front fees (1)
- Upper Limit (1)
- Upside Risk (1)
- Urheberrecht (1)
- Utility Functions (1)
- Utility Maximization (1)
- Utility Theory (1)
- Utilization (1)
- VAR Modeling (1)
- VAR estimation (1)
- VAT (1)
- VC-backed IPOs (1)
- VLCC (1)
- Vainionora (1)
- Validation (1)
- Value creation (1)
- Value premium (1)
- Variance Risk Premium (1)
- Vector Autoregression (1)
- Vektoranalysis (1)
- Velar (1)
- Venue Choice (1)
- Verbraucherverhalten (1)
- Verbum sentiendi (1)
- Vereinigte Staaten (1)
- Verfahren (1)
- Verfahrensregeln (1)
- Verfassungstheorie (1)
- Vergleichende Literaturwissenschaft (1)
- Verhaltensökonomie (1)
- Verhandlungsspiel (1)
- Verhandlungstheorie (1)
- Verkehrsplanung (1)
- Verlust (1)
- Verlustbeteiligung (1)
- Vermittlung (1)
- Vermögen (1)
- Vermögensaufteilung (1)
- Vermögenskonzentrationsrisiko (1)
- Vermögensumverteilung (1)
- Vermögensverteilung (1)
- Verschlusslaut (1)
- Versicherung (1)
- Versicherungsaktiengesellschaft (1)
- Versicherungsaufsicht (1)
- Versicherungsbetrieb (1)
- Versicherungsnehmer (1)
- Versicherungsschutz (1)
- Versicherungsverein auf Gegenseitigkeit (1)
- Versicherungsvertrag (1)
- Versicherungswissenschaft (1)
- Verteilungsgerechtigkeit (1)
- Vertical Integration (1)
- Vertical R&D (1)
- Vertikale Integration (1)
- Vertikale Konzentration (1)
- Vertragsschluss (1)
- Verträge (1)
- Verweildauer (1)
- Videospiel (1)
- Viktorianisches Zeitalter (1)
- Violent Conflict (1)
- Volatilität / Risikoprämie / Statistischer Test / Optionspreistheorie / Stochastischer Prozess / Theorie (1)
- Volcker Rule (1)
- Volksbank (1)
- Vorgesetzter (1)
- Vorstand (1)
- Vorteil (1)
- Voting (1)
- Voucher (1)
- Vulnerability (1)
- WHO alerts (1)
- WIPO ALERT (1)
- WIPO Alert (1)
- WTO (1)
- Wachstum (1)
- Wachstumstheorie (1)
- Wage Setting (1)
- Wage rigidity (1)
- Wagner's Law (1)
- Wahlverhalten (1)
- Wahrscheinlichkeitsverteilung (1)
- Walter Eucken (1)
- Warburg, Aby Moritz (1)
- Warburg, Aby Moritz / Mnemosyne (1)
- Washington <DC, 2008> (1)
- Wasser (1)
- Wassermangel (1)
- Wassernutzung (1)
- Watchlist (1)
- Water and food security (1)
- Water use (1)
- WaterGAP (Water Global Analysis and Prognosis) (1)
- Weak Instruments (1)
- Wealth Accumulation (1)
- Wealth Decumulation (1)
- Wealth Distribution (1)
- Wealth Effect (1)
- Wealth Holdings (1)
- Wealth Losses (1)
- Wealth effects (1)
- Wealth shocks (1)
- Wechselkurspolitik (1)
- Welfare Costs (1)
- Welt (1)
- Weltwirtschaft (1)
- Wertberichtigung Wertberichtigung (1)
- Wertorientierung (1)
- Wertpapier (1)
- Wertpapieranlage (1)
- Westeuropa (1)
- Wettervorhersage (1)
- Wiederkauf (1)
- Windfalls (1)
- Winner’s Curse (1)
- Wirtschaft (1)
- Wirtschaftliche Abhängigkeit (1)
- Wirtschaftliche Stabilität (1)
- Wirtschaftlicher Dualismus (1)
- Wirtschaftsaufsicht (1)
- Wirtschaftsgut (1)
- Wirtschaftsmacht (1)
- Wirtschaftsmodell (1)
- Wirtschaftssektor (1)
- Wirtschaftssoziologie (1)
- Wissen (1)
- Wissenschaft (1)
- Wissenschaftskommunikation (1)
- Wohlfahrt (1)
- Wohlfahrtsstaat (1)
- Wohnraum (1)
- Womenomics (1)
- Word Embedding (1)
- World Bank Report (1)
- World Intellectual Property Organization (1)
- World Yield (1)
- World development report (1)
- Wortfeld (1)
- Wortproblem (1)
- WpHG (1)
- Währungspolitik (1)
- Währungssystem (1)
- XAI (1)
- Xetra (1)
- Yen (1)
- Yield Curve (1)
- Yield Curve Risk (1)
- Yield curve (1)
- Yield spread (1)
- Yoruba-Sprache (1)
- ZWO (1)
- Zaborowski, Stanisław (1)
- Zahlungsbedingungen (1)
- Zeit (1)
- Zeitbewusstsein (1)
- Zeitlupe (1)
- Zeitperspektive (1)
- Zeitraffer (1)
- Zeitreihe (1)
- Zeitumkehr (1)
- Zellularer Automat (1)
- Zentralbankgeld (1)
- Zentrales Clearing (1)
- Zentralnbank (1)
- Zero Bound (1)
- Zero lower bound (1)
- Zinsparität (1)
- Zinspolitik / Wirtschaftspolitische Wirkungsanalyse / Zinsstruktur / Europäische Wirtschafts- und Währungsunion / EU-Staaten (1)
- Zinsrisiko (1)
- Zinsrisiko der Lebensversicherung (1)
- Zinsspanne (1)
- Zinsspannenrechnung (1)
- Zinstender (1)
- Zinsänderungsrisiko (1)
- Zivilisation (1)
- Zombie Lending (1)
- Zukunft (1)
- Zwischenmenschliche Beziehung (1)
- Zypern (1)
- abnormal returns (1)
- absence of arbitrage (1)
- absolute loss (1)
- abstract reduction (1)
- accounting (1)
- accounting data (1)
- acquisition cost (1)
- ad hoc disclosure rules (1)
- adaptation (1)
- adequate translation (1)
- adverse selection (1)
- adviser (1)
- affect heuristic (1)
- affine equilibrium model (1)
- africa <motive> (1)
- age (1)
- age limits (1)
- agglomeration (1)
- aggregate uncertainty (1)
- aging (1)
- algorithmic trading (1)
- allocation bias (1)
- allocative efficiency (1)
- alpha renaming (1)
- alternative dispute resolution (ADR) (1)
- alternative oispute resolution (ADR) (1)
- altorientalisches Recht (1)
- altorientalistisches internationales Recht (1)
- ambiguity aversion (1)
- ambiguity premium (1)
- ambivalent elites (1)
- analytic functions (1)
- anchor (1)
- ancient Egyptian mathematics (1)
- angel finance (1)
- annual general meeting (1)
- annuities (1)
- annuity puzzle (1)
- anthropological culture concept (1)
- anticipation (1)
- argumentative self-entrapment (1)
- art investing (1)
- art investments (1)
- artificial intelligence (1)
- artificially completed markets (1)
- asset location (1)
- asset managers (1)
- asset markets (1)
- asset securitisation (1)
- asset-backed securities (1)
- asset-pricing models (1)
- assetbacked securities (1)
- asymmetric and private information (1)
- asymmetric shocks (1)
- asymmetry (1)
- attention-based object recognition (1)
- attitudes towards inequality (1)
- auction (1)
- auction format (1)
- auction model (1)
- audit industry (1)
- audit partners (1)
- audit quality (1)
- auditor rotation (1)
- authoritarianism (1)
- automatic enrollment (1)
- autonomy (1)
- autoregressive conditional duration models (1)
- average treatment effect (1)
- background risk (1)
- backpacking (1)
- backtesting (1)
- backward stochastic differential equation (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 capital ratios (1)
- bank capital requirements (1)
- bank default (1)
- bank distress (1)
- bank funding (1)
- bank integration (1)
- bank lending channel (1)
- bank loan terms (1)
- bank loans (1)
- bank performance (1)
- bank relationship (1)
- bank resolution regimes (1)
- bank sanctions (1)
- bank seserves (1)
- bank stability (1)
- bank strategies (1)
- bank-based financial system (1)
- bank-based financial systems (1)
- banking and treasury functions (1)
- banking networks (1)
- banking resolution (1)
- banking supervision, (1)
- banking system (1)
- banking system liquidity (1)
- banking systems (1)
- bankruptcy (1)
- banks’ funding costs (1)
- bargaining (1)
- based on a single specimen (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)
- beta kernel (1)
- betting (1)
- bi-power variation (1)
- biased assimilation (1)
- biased beliefs (1)
- biases (1)
- bicycle planning (1)
- bicycle policy (1)
- bidder surplus (1)
- bilateral investment treaties (1)
- biodiversity research (1)
- biofuel (1)
- biofuels (1)
- biographical research (1)
- biometric risks (1)
- bitcoin (1)
- black <motive> (1)
- board of directors (1)
- board oversight (1)
- bond auctions (1)
- bond market liquidity (1)
- bond ownership (1)
- bond returns (1)
- bonds (1)
- boom-bust (1)
- booms (1)
- bootstrap (1)
- borders (1)
- borrowing (1)
- boundary bias (1)
- bounded rationality (1)
- bracket creep (1)
- branches (1)
- break-through rule (1)
- buffer-stock models of saving (1)
- bunker fuel (1)
- bureaucrats' incentives (1)
- business owners wealth (1)
- business segment reports (1)
- calendar effects (1)
- call auctions (1)
- call-by-need lambda calculus (1)
- capability to raise revenue (1)
- capacity constraints (1)
- capacity development (1)
- capacity utilization (1)
- capital adequacy (1)
- capital flows (1)
- capital gains tax (1)
- capital injection to banks (1)
- capital liquidations (1)
- capital maintenance (1)
- capital market-based financial systems (1)
- capital ratios (1)
- capital taxation (1)
- capital taxes (1)
- capital-labor ratio (1)
- capitalism (1)
- caps (1)
- capture (1)
- career development (1)
- career strategies (1)
- careers (1)
- cartel damages (1)
- cash (1)
- cash equity markets (1)
- cash flow sensitivity (1)
- cash holdings (1)
- cash-in-advance (1)
- catastrophe bond (1)
- catastrophic events (1)
- catastrophic risk (1)
- causal inferences (1)
- cellular automata (1)
- central bank accountability (1)
- central bank governance (1)
- central bank information effect (1)
- central bank mandates (1)
- central counter parties (1)
- central counterparties (1)
- central counterparty (1)
- centralcounterparty (1)
- centralisation (1)
- centrality metrics (1)
- centralization of wage bargaining (1)
- certainty equivalents (1)
- certification (1)
- cheating (1)
- childcare (1)
- choice overload (1)
- church (1)
- city development boards (1)
- civil servants (1)
- civil war (1)
- civilisation (1)
- classification (1)
- client involvement (1)
- cliff effect (1)
- climate behavior (1)
- climate policies (1)
- climate risk (1)
- climate-economy models (1)
- climate-related disclosures (1)
- closed-end funds (1)
- cluster analysis (1)
- clustering (1)
- co-determination (1)
- coal (1)
- code of conduct (1)
- cognitive abilities (1)
- cognitive load (1)
- cognitive sophistication (1)
- cointegrated systems (1)
- cointegration (1)
- coinvestment (1)
- collateral reuse (1)
- collection of revenue (1)
- collective action clauses (1)
- collective redress (1)
- combined forecasting (1)
- commercial banks (1)
- commodities (1)
- commodity (1)
- common bond (1)
- common factor models (1)
- common ownership (1)
- communication (1)
- company law (1)
- comparability (1)
- competition between exchanges (1)
- competition in banking (1)
- competitive equilibrium (1)
- competitive insurance market (1)
- competitiveness (1)
- complexity (1)
- compliance behavior (1)
- compounding (1)
- comprehensive assessment (1)
- computer visionbiases (1)
- concept and conceptions of trust (1)
- conceptual analysis (1)
- conditional CAPM (1)
- conditional difference-in-differences (1)
- conditional forecasts (1)
- conditional volatility (1)
- conditionality (1)
- confirmatory biases (1)
- conflict of laws (1)
- conflict rule for securitization (1)
- connected industries (1)
- conservatism (1)
- conservative modernisers (1)
- consolidating supervision (1)
- conspicuous consumption (1)
- constitiutionalism (1)
- constitutional theory (1)
- constitutionalism (1)
- constitutions without constitutionalism (1)
- constrained efficiency (1)
- construction procurement (1)
- constructivism (1)
- consumer education (1)
- consumer loans (1)
- consumer prices (1)
- consumption commitments (1)
- consumption dynamics (1)
- consumption expenditure (1)
- consumption heterogeneity (1)
- consumption smoothing (1)
- consumption-based models (1)
- consumption-portfolio decisions (1)
- container (1)
- content analysis (1)
- contentious politics (1)
- contest (1)
- contingent capital (1)
- continuous limit order book (1)
- contract addition (1)
- contract design (1)
- contract econometrics (1)
- contract law (1)
- contract theory (1)
- contractual liability (1)
- contrarian trading (1)
- conventional monetary policy (1)
- conÖrmation bias (1)
- coordination problems (1)
- copula (1)
- core Europe (1)
- corona bonds (1)
- corona crisis (1)
- corporate bonds (1)
- corporate control (1)
- corporate credit risk (1)
- corporate debt (1)
- corporate deposits (1)
- corporate governance codes (1)
- corporate income tax (1)
- corporate insolvency (1)
- corporate restructuring (1)
- corporate savings (1)
- corporate taxation (1)
- corporate taxes (1)
- corporate voting (1)
- corporategovernance (1)
- correctness (1)
- correlated random effects probit model (1)
- correlation (1)
- cost and profit efficiency (1)
- cost efficiency (1)
- cost of carry model (1)
- cost-benefit analysis (1)
- counterfactual decompositions (1)
- counterfactual thinking (1)
- country groups (1)
- court cases (1)
- covariance (1)
- crack spread (1)
- credence goods (1)
- credit (1)
- credit access (1)
- credit card debt (1)
- credit chains (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 rating (1)
- credit rating agencies (1)
- credit risk transfer (1)
- credit scoring (1)
- credit volume (1)
- credit-file data set (1)
- creditor (1)
- creditors runs (1)
- crop prices (1)
- cross-border assignements (1)
- cross-border banking (1)
- cross-border insolvency (1)
- cross-border institutions (1)
- cross-border political access (1)
- cross-equation restrictions of rational expectations (1)
- cross-regional mobility (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)
- cult of immediacy (1)
- cultural construct (1)
- cultural globalization (1)
- culture (1)
- currencies (1)
- currency board (1)
- currency competition (1)
- current account (1)
- current account fluctuations (1)
- customary international law (1)
- customs (1)
- cycle flows (1)
- cyclical liabilities (1)
- da Osimo, Niccolò (1)
- dark trading (1)
- dash-for-cash (1)
- data set (1)
- de-territorialisation (1)
- debt cost (1)
- debt issuance (1)
- debt relief to households (1)
- debt restructuring (1)
- debt structure (1)
- debtor (1)
- decentralisation (1)
- decentralization theorem (1)
- decidability questions (1)
- decision theory (1)
- decretal “Super eo” (1)
- deduction (1)
- default effect (1)
- default investment (1)
- default premium (1)
- definition of unemployment (1)
- delegated expertise (1)
- delegated monitoring (1)
- deleveraging (1)
- demand curve (1)
- demand elasticities (1)
- demand side constraints of labour supply (1)
- demand-responsive approach (1)
- demilitarisation (1)
- democracy (1)
- democratic representation (1)
- democratisation (1)
- demographic change (1)
- demographic trends (1)
- demokratische Repräsentation (1)
- deposit guarantee scheme (1)
- deposits (1)
- deregulation (1)
- derivates market (1)
- designated market makers (1)
- developing countries (1)
- development policy (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)
- digital rights management (1)
- digitalization (1)
- direct revelation mechanism (1)
- directors (1)
- disaggregated prices (1)
- disaggregation (1)
- disagreement (1)
- discourse analysis (1)
- discrete trading (1)
- discretionary lending (1)
- disinflation (1)
- disinformation (1)
- distance (1)
- distance to default (1)
- distress and workout (1)
- distributed ledger technology (1)
- distribution channel (1)
- distributional consequences of monetary policy (1)
- district courts (1)
- divergence of opinion (1)
- divestments (1)
- dividend policy (1)
- dividend protection (1)
- dogs (1)
- dollar (1)
- dollar funding (1)
- donors (1)
- drainage (1)
- dual systems (1)
- dual-class shares (1)
- duble moral hazard (1)
- duration analysis (1)
- duration of civil proceedings (1)
- duration of pay (1)
- dynamic asset allocation (1)
- dynamic correlation (1)
- dynamic factor models (1)
- dynamic inconsistency (1)
- dynamic investment (1)
- dynamic model (1)
- dynamic panel GMM estimation (1)
- dynamic panel data model (1)
- dynamic panel sata models (1)
- dynamic programming (1)
- dynamic spillovers (1)
- dynamic stochastic general equilibrium models (1)
- dynamic treatments (1)
- ecolabelling (1)
- economic and trade bureaus (1)
- economic dependence (1)
- economic development (1)
- economic fluctuations (1)
- economic governance (1)
- economic growth (1)
- economic nationalism (1)
- economic policy (1)
- economic policy uncertainty (1)
- economic preferences (1)
- economic rationality (1)
- economic reforms (1)
- economic surprises (1)
- economic systems (1)
- economy (1)
- ecosystem services (1)
- educational intervention (1)
- effciency (1)
- effect heterogeneity (1)
- effective lower bound (1)
- egulation of financial markets (1)
- elasticity of intertemporal substitution (1)
- electoral cycle (1)
- electronic markets (1)
- electronic trading (1)
- electronic trading systems (1)
- emergency liquidity assistance (ELA) (1)
- emergency loans (1)
- emerging markets (1)
- emissions trading system (ETS) (1)
- emotions (1)
- empirical contract theory (1)
- employees (1)
- employer-employee level dataset (1)
- employment (1)
- employment dynamics (1)
- end-of-day price dislocation (1)
- endogeneity (1)
- endogenous information acquisition (1)
- endogenous risk (1)
- endorsement effect (1)
- endowment effect (1)
- energy (1)
- energy crisis (1)
- entrepreneurial spawning (1)
- entrusted loan (1)
- epistemic (in)justice (1)
- epistemic trust (1)
- equilibrium (1)
- equilibrium interest rate (1)
- equity (1)
- equity betas (1)
- equity cost (1)
- equity market integration (1)
- equity markets (1)
- equity options (1)
- equity prices (1)
- equity trading (1)
- equity-risk premium (1)
- erm structure of interest rates (1)
- escape dynamics (1)
- estimation risk (1)
- ethanol (1)
- ethnographic observations (1)
- ethnographic research (1)
- ethnographische Beobachtung (1)
- ethnomethodology (1)
- euro area regional and sectoral inflation (1)
- euro crisis (1)
- eurozone (1)
- event-study (1)
- ex-soviet citizens abroad (1)
- exchange rate determination (1)
- exchange rate response to monetary policy (1)
- exchange trading rules (1)
- excommunication (1)
- executive labor market (1)
- executive stock options (1)
- exit (1)
- expectation (1)
- experiences (1)
- experiment (1)
- experiments (1)
- expert forecasts (1)
- expert opinions (1)
- exploratory data analysis (1)
- export ban (1)
- exports (1)
- external forum (1)
- external instruments (1)
- externalities (1)
- externality (1)
- extreme value theory (1)
- factor shares (1)
- factor timing (1)
- factorization of matrix polynomials (1)
- fairness (1)
- familiarity (1)
- family firms (1)
- family strategies (1)
- feature selection (1)
- federal transfers (1)
- fertility (1)
- fiction (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 contracts (1)
- financial crises (1)
- financial cycles (1)
- financial decision-making (1)
- financial deepening (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 reporting quality (1)
- financial repression (1)
- financial resilience (1)
- financial retrenchment (1)
- financial risk und project risk (1)
- financial risk-taking (1)
- financial sector (1)
- financial solidarity (1)
- financial spillover (1)
- financial spillovers (1)
- financial stablity (1)
- financial stocks (1)
- financial supervision (1)
- financial transaction tax (1)
- financing (1)
- financing constraint (1)
- finite mixture distributions (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 dominance (1)
- fiscal federalism (1)
- fiscal financial vulnerabilities (1)
- fiscal multipliers (1)
- fiscal policy transmission (1)
- fiscal rules (1)
- fiscal solidarity (1)
- fiscal stimulus (1)
- fiscal stress (1)
- fiscal transfers (1)
- fiscal union (1)
- fiscal variables (1)
- fixed effects regression (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)
- follow the money (1)
- food crisis (1)
- food price volatility (1)
- football (1)
- forbearance (1)
- forced loan (1)
- forecast (1)
- forecast accuracy (1)
- foreign banks (1)
- foreign currency lending (1)
- foreign portfolio investment (1)
- formal education (1)
- formal languages (1)
- formal semantics (1)
- fragmentation (1)
- fragmented authoritarianism (1)
- fragmentierter Autoritarismus (1)
- franchise value (1)
- free banking (1)
- free dividend fallacy (1)
- free-riding problem (1)
- frequent batch auctions (1)
- functional finance approach (1)
- fund growth (1)
- fundamental rights (1)
- funding dry-ups (1)
- funding risk (1)
- furlough (1)
- futures markets (1)
- game perceptions (1)
- gasoline supply (1)
- gasoline tax (1)
- gender equality (1)
- gender wage gap (1)
- general principles of law (1)
- generalised tobit (1)
- genetics (1)
- geo-economics (1)
- geoblocking (1)
- geographic expansion (1)
- geopolitical risk (1)
- geotargeting (1)
- german banking system (1)
- german banks (1)
- german insurance industry (1)
- global banking (1)
- global co-movement (1)
- global game (1)
- global preference survey (1)
- globalisation tourism (1)
- globalisation winners (1)
- globalism (1)
- globality (1)
- goal orientation (1)
- golden shares (1)
- good governance (1)
- governance through information (1)
- government (1)
- government debt (1)
- government finance (1)
- government-owned banks (1)
- governmentality (1)
- gradualism (1)
- grammar-based compression (1)
- greek crisis (1)
- green central bank policy (1)
- green financing (1)
- gross and net union density (1)
- groundwater depletion (1)
- groundwater recharge (1)
- groundwater resources (1)
- group identity (1)
- group law (1)
- group size (1)
- growth and development (1)
- growth options (1)
- habit (1)
- healer / traditional medicine (1)
- health (1)
- health education (1)
- hedging error (1)
- hedging errors (1)
- hedonic model (1)
- hedonic translog cost function (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)
- highly-skilled migration (1)
- holdout litigation (1)
- home bias (1)
- honesty (1)
- hours per capita measurement (1)
- house price (1)
- household liquidity (1)
- household portfolios (1)
- household savings (1)
- household wealth (1)
- household finance (1)
- households (1)
- housing construction bureaus (1)
- housing debt crisis (1)
- housing expenditure share (1)
- human capital formation (1)
- human capital formationbank-based financial system (1)
- hydrology (1)
- ideational shift (1)
- identity change (1)
- identity production (1)
- idiosynkratisches Risiko (1)
- idle time (1)
- image databases (1)
- image of Africa (1)
- imagination (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)
- inclusivity (1)
- income dependent inflation (1)
- income distribution (1)
- income risk (1)
- income tax (1)
- incomplete contracts (1)
- incomplete information (1)
- independent private values (1)
- indeterminacy (1)
- index construction (1)
- index funds (1)
- indicators (1)
- indigenous extended family (1)
- indigenous justice (1)
- indirect inference estimation (1)
- individual retirement account (1)
- individual-bank lending (1)
- industrial organization (1)
- inertia in demand (1)
- inference (1)
- inflation expectations (1)
- inflation forecast targeting (1)
- inflation forecasting (1)
- inflation inertia (1)
- inflation surge (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)
- informativeness principle (1)
- informed principal (1)
- infrastructural power (1)
- infrastructure (1)
- input-output (1)
- insider-outsider theory (1)
- instability under learning (1)
- institutional design (1)
- instrumental variables (1)
- instruments (1)
- insurance demand (1)
- insurance groups (1)
- insurance guarantee schemes (1)
- insurance industry (1)
- insurance market (1)
- insurance pricing (1)
- insurer default risk (1)
- inter-corporate loan (1)
- inter-firm liquidity provision (1)
- interbank market (1)
- interbank markets (1)
- interbank network (1)
- interconnections (1)
- interdependence (1)
- interdependent preferences (1)
- interest rate elasticity (1)
- interest-rate channel (1)
- interest-rate rules (1)
- intermediaries (1)
- intermediate targets (1)
- intermediation (1)
- internal borrower rating (1)
- internal capital markets (1)
- internal financing (1)
- internal forum (1)
- internal money market (1)
- internal rating models (1)
- internal ratings based approach (1)
- international accounting (1)
- international capital markets (1)
- international comparative finance (1)
- international comparison (1)
- international currencies (1)
- international diversification (1)
- international diversification benefits (1)
- international labour standards (1)
- international lendin (1)
- international monetary system (1)
- international price dispersion (1)
- international price setting (1)
- international relations (1)
- international taxation (1)
- international work (1)
- internationaler Konjunkturzusammenhang (1)
- interregionale Mobilitätsinkongruenz (1)
- intertemporal trade (1)
- intraday (1)
- intraday (co-)variation risk (1)
- intraday non-linearities (1)
- intraday stock price adjustments (1)
- intuitive thinking (1)
- inverse probability weighting (1)
- investment behavior (1)
- investment biases (1)
- investment forum (1)
- investment guarantee (1)
- investment management company (1)
- investment mistakes (1)
- investor behavior (1)
- investor coalitions (1)
- investor preferences (1)
- investor segmentation (1)
- investor sentiment (1)
- investor sophistication (1)
- isidiate (1)
- isk premiums (1)
- iterative arrays (1)
- iterative estimator (1)
- jet fuel (1)
- job creation schemes (1)
- judicial offices (1)
- jump risk (1)
- jumps in aggregate consumption (1)
- jumps in the longrun growth rate (1)
- jurisdiction (1)
- justification (1)
- knowledge of economics and finance (1)
- knowledge of finance and economics (1)
- labelling (1)
- labels (1)
- labor hoarding (1)
- labor income taxes (1)
- labor market (1)
- labor market entry (1)
- labor market transitions (1)
- labor mobility (1)
- labour demand (1)
- labour economics (1)
- labour market policies (1)
- labour markets in USA and FRG (1)
- land degradation (1)
- land inheritance (1)
- large language models (1)
- late scholastic (1)
- latency arbitrage (1)
- law (1)
- law enforcement (1)
- layoff risk (1)
- leader- follower analysis (1)
- learning strategy (1)
- legal transplants (1)
- legally binding force (1)
- legislation (1)
- legitimacy (1)
- leisure (1)
- lender coordination (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)
- liability (1)
- liability insurance (1)
- licence contracts (1)
- lichen chemistry (1)
- life cycle model (1)
- life expectancy (1)
- life insurance demand (1)
- life-cycle (1)
- life-cycle behavior (1)
- life-cycle decisions (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)
- limited liability (1)
- liquid assets (1)
- liquidity elasticity (1)
- liquidity externalities (1)
- liquidity requirements (1)
- liquidity runs (1)
- literature (1)
- litigation (1)
- loan guarantees (1)
- loan loss allowances (1)
- loan officer (1)
- loan officers (1)
- loan price determination (1)
- local Public Security Bureaus (1)
- local identity (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)
- location theory (1)
- lockdown costs (1)
- lokale Regierungen (1)
- lokale Ämter für Öffentliche Sicherheit (1)
- long memory (1)
- long real interest rates (1)
- long time series (1)
- long-run growth (1)
- long-term investments (1)
- long-term real interest rates (1)
- long-term unemployed (1)
- longrun risk (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)
- lumpy investment (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 models (1)
- macroeconomic risks (1)
- macrofinancial linkages (1)
- macroprudential franework (1)
- macroprudential policy transmission (1)
- macroprudential regulation (1)
- make-up strategies (1)
- management compensation (1)
- mandatory disclosure (1)
- mankind / humanity (1)
- manufacturing (1)
- market and credit risk factors (1)
- market design (1)
- market economy (1)
- market enforcement (1)
- market entry study (1)
- market expectation (1)
- market fragmentation (1)
- market infrastructure (1)
- market institutions (1)
- market integration (1)
- market makers (1)
- market making (1)
- market microstructure (1)
- market microstructure noise (1)
- market microstructure theory (1)
- market participants (1)
- market price (1)
- market prices of risk (1)
- market quality (1)
- market rate of interest (1)
- market reactions (1)
- market risk (1)
- market shares (1)
- market size (1)
- market trends (1)
- market-based (1)
- market-based financial intermediation (1)
- market-making (1)
- marketplace lending (1)
- markups (1)
- matching function (1)
- matching methods (1)
- matching techniques (1)
- material culture (1)
- maturity (1)
- mean response function (1)
- measure of ambiguity (1)
- measurement error (1)
- media pluralism (1)
- media polarization (1)
- median (1)
- median response function (1)
- mediation (1)
- medicine (1)
- medium-sized debtors (1)
- mega-terror attacks (1)
- menu costs (1)
- merchants (1)
- meta languages (1)
- methodology (1)
- micro data transparency (1)
- micro-prudential supervision (1)
- microdata (1)
- microeconometric evaluation (1)
- microfoundations (1)
- microprudential supervision (1)
- midpoint extended life order (1)
- migrant media (1)
- migration from the former Soviet Union (1)
- mini-flash crash (1)
- misinformation (1)
- mismatch (1)
- misperception (1)
- missing data (1)
- missing disinflation (1)
- mitigation (1)
- mixed frequency (1)
- mnimum distribution requirements (1)
- mobilizations (1)
- modal model (1)
- model case procedure (1)
- model mis-specification (1)
- model misspecification (1)
- modernity (1)
- momentum trading (1)
- monetary and fiscal policy (1)
- monetary financing (1)
- monetary institutions (1)
- monetary law (1)
- monetary non-neutrality (1)
- monetary operations (1)
- monetary penalties (1)
- monetary policy instruments of the European Central Bank (1)
- monetary policy real-time output gap (1)
- monetary policy surprise (1)
- monetary policy surprise shocks (1)
- monetary reform (1)
- monetary shocks (1)
- monetary system (1)
- monetary targeting (1)
- money illusion (1)
- money in the utility function (1)
- mood (1)
- moral hazar (1)
- moral trust (1)
- moral values (1)
- motivated beliefs (1)
- motivated reasoning (1)
- motivation (1)
- motivation for honesty (1)
- multi agent models (1)
- multi-level governance (1)
- multi-resources mix (1)
- multi-unit auctions (1)
- multinational companies/business and human rights (1)
- multinational firms (1)
- multinomial logit model (1)
- multiple bank financing (1)
- multiple equilibria (1)
- multiple lending (1)
- multiple point of entry (1)
- multiple-bank lending (1)
- multiple-voting shares (1)
- multiplex networks (1)
- multiplicative error model (1)
- multivariate GARCH (1)
- mutual fund complex (1)
- mutual fund performance (1)
- nachrangiges Fremdkapital (1)
- nance premium (1)
- narrative sign restrictions (1)
- national identity (1)
- national interest (1)
- national systems of local banks (1)
- natural disasters (1)
- natural gas price (1)
- natural rate (1)
- natural resources (1)
- natural unemployment rate (1)
- ne (1)
- negative interest rates (1)
- neighbouring right (1)
- neo-classical growth (1)
- neoinstitutionalism (1)
- net asset value (1)
- net foreign assets (1)
- net neutrality (1)
- net wealth (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 effect (1)
- network effects (1)
- network formation (1)
- network model (1)
- network topology (1)
- network topology estimation (1)
- network visualization (1)
- neutralisation (1)
- news publication (1)
- nomadic lifestyles (1)
- nominal exchange rate regime neutrality (1)
- nominal rigidity (1)
- nominal unification (1)
- nominee account (1)
- non-Bayesian updates (1)
- non-linear VAR (1)
- non-parametric methods (1)
- non-performing assets (1)
- non-profit banking (1)
- non-voting shares (1)
- nonlinear optimal policy (1)
- nonlinear time series models (1)
- nonlinearities (1)
- nonlinearity (1)
- nonparametric matching (1)
- nonparametric methods (1)
- nonstandard asymptotics (1)
- normal inverse gaussian distribution (1)
- normalization (1)
- normalized CES function (1)
- normative orders (1)
- nternationale Wettbewerbsfähigkeit (1)
- numerical optimization (1)
- numerical solution method (1)
- nutrients (1)
- oaths (1)
- observational equivalence (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 share-one vote (1)
- one-child policy (1)
- online borrowing (1)
- online experiments (1)
- ontology (1)
- open access (1)
- open economy (1)
- open economy macro-finance modeling (1)
- open-end real-estate fund (1)
- operating procedures (1)
- operational performance (1)
- opinion (1)
- opportunity (1)
- optimal asset allocation (1)
- optimal capital structure choice (1)
- optimal consumption and investment (1)
- optimal inflation rate (1)
- optimal learning (1)
- optimal policy (1)
- optimal rate of inflation (1)
- optimal stopping (1)
- optimum currency area (1)
- option pricing (1)
- option-implied distribution (1)
- options (1)
- order flow (1)
- order submission (1)
- origin (1)
- orthogonalization (1)
- otc derivatives markets (1)
- outgroup derogation (1)
- output fluctuations (1)
- output gap (1)
- output gap estimates (1)
- output hysteresis (1)
- overconfidence (1)
- overlapping generations (1)
- overlapping wage contracts (1)
- overreaction (1)
- ownership concentration (1)
- ownership disclosure (1)
- pairwise connectedness (1)
- pandemic (1)
- pandemic economics (1)
- pandemic insurance (1)
- panel unit root test (1)
- panel vector autoregression (1)
- pari passu clauses (1)
- partially linear models (1)
- participation as complicity (1)
- participation rate (1)
- partnerships (1)
- party systems (1)
- party-state (1)
- passive investors (1)
- passthrough (1)
- patent paradox (1)
- patent system (1)
- pathogenic lichenicolous fungi (1)
- patriotism (1)
- paycheck frequency (1)
- payment system (1)
- payment systems (1)
- peace (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)
- persistent or transitory inflation shock (1)
- personal finance (1)
- personality traits (1)
- peso problem (1)
- pessimism (1)
- petitioning cases (1)
- pharmaceutical industry (1)
- phased withdrawal accounts (1)
- piracy (1)
- placebo technique (1)
- pledged land (1)
- polarization (1)
- police cooperation (1)
- policy credibility (1)
- policy intervention (1)
- policy measures in the EU (1)
- policy normalization (1)
- policy reform (1)
- policy rule (1)
- policy uncertainty (1)
- political behavior (1)
- political discourse (1)
- political influence (1)
- political party affiliation (1)
- political party identification (1)
- political polarization (1)
- political realism (1)
- political trust (1)
- politicization (1)
- politics (1)
- politische Reformen (1)
- polynomial word problem (1)
- pooling equilibrium (1)
- populism (1)
- portfolio modelling (1)
- portfolio optimization (1)
- portfolio performance (1)
- possession / bedevilment (1)
- post-merger performance (1)
- post-socialist transition (1)
- post-trading (1)
- posterior (1)
- posterior risk (1)
- potential output (1)
- poverty reduction (1)
- precautionary insurance (1)
- precautionary recapitalization (1)
- precongruence (1)
- predictive likelihood (1)
- present bias (1)
- press publication (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)
- principal-agent theory (1)
- private benefits of control (1)
- private business (1)
- private financial services (1)
- private markets (1)
- private money (1)
- private ordering (1)
- private sector involvement (1)
- privatisation (1)
- privileges (1)
- probability of default (1)
- procedural rules (1)
- procedure (1)
- process approximation (1)
- product development (1)
- product diversity (1)
- product market competition (1)
- productivity differentials (1)
- productivity growth (1)
- profit weights (1)
- profits (1)
- program correctness (1)
- programming calculi (1)
- progress (1)
- project finance (1)
- propagation of inequality (1)
- propensity score (1)
- propensity to patent (1)
- proportionality (1)
- proprietary costs (1)
- proprietary trading ban (1)
- protected values (1)
- protection (1)
- provisioning rules (1)
- proximities (1)
- proximity (1)
- prudence (1)
- prudential regulation (1)
- public bonds (1)
- public finance (1)
- public markets (1)
- public policy analysis (1)
- public private partnership (1)
- public sector wages (1)
- public-private relations (1)
- publisher (1)
- quadratic variation (1)
- quadratic variation and covariation (1)
- quantile regression (1)
- quiet life hypothesis (1)
- race (1)
- race theory (1)
- racial inequality (1)
- rain- and floodwater harvesting (1)
- randomized algorithms (1)
- randomized control trial (1)
- randomized control trials (1)
- randomized controlled trial (1)
- rangeland ecosystems (1)
- rank feedback (1)
- rare disaster risk (1)
- rare disasters (1)
- rating (1)
- rating migration (1)
- rational bias (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)
- realised volatility (1)
- realized beta (1)
- realized quarticity (1)
- rebel governance (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)
- reconstruction of knowledge (1)
- recursive preferences (1)
- refined products (1)
- refining (1)
- regime switching model (1)
- regime-dependent correlations (1)
- regional banks (1)
- regional heterogeneity (1)
- regional propagation (1)
- regression adjustment (1)
- regression discontinuity design (1)
- regret (1)
- regularization (1)
- regulatory competition (1)
- rehypothecation (1)
- related party transactions (1)
- related right (1)
- relationship banking (1)
- relationship lending, (1)
- relative performance evaluation (1)
- relative performance feedback (1)
- rent seeking (1)
- renting vs. owning home (1)
- repeat sale (1)
- replication (1)
- repo auctions (1)
- repo market (1)
- reporting (1)
- reputational risk (1)
- resilience (1)
- resiliency (1)
- resource boom (1)
- responsibility (1)
- restatements (1)
- retail investors (1)
- retained earnings (1)
- retention (1)
- retirement expectations (1)
- retirement plan (1)
- retirement planning (1)
- retirement preparation (1)
- return expectations (1)
- revenue authority (1)
- reversals (1)
- reverse mortgage (1)
- risk perception (1)
- risk preference (1)
- risk sharing (1)
- risk shifting (1)
- risk spillovers (1)
- risk-based capital (1)
- risk-sharing (1)
- risk-shifting (1)
- risk-taking channel of monetary policy (1)
- risk-taking incentives (1)
- robust decision theory (1)
- robust inference (1)
- robust monetary policy (1)
- robust policy (1)
- robust simple rules (1)
- robustness (1)
- royal domain (1)
- rules (1)
- rules vs discretion (1)
- rural-urban migration (1)
- salazinic acid (1)
- salience (1)
- sanctions (1)
- sanitation (1)
- saving behavior (1)
- saving puzzles (1)
- savings accounts (1)
- savings and wealth accumulation (1)
- say-on-pay (1)
- scale-invariant object model (1)
- scanner price data (1)
- scarring effects (1)
- scraping (1)
- search and matching (1)
- search friction (1)
- search models (1)
- search-matching (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)
- securitisation (1)
- securitization (1)
- security (1)
- security design (1)
- security issue (1)
- sektorale Vermögensdiversifizierung (1)
- selection (1)
- self-control (1)
- semantic enrichment (1)
- semi-parametric estimation (1)
- sensitivity analysis (1)
- separating equilibrium (1)
- settlement procedures (1)
- severance pay caps (1)
- severity (1)
- sex industry (1)
- shadow banking system (1)
- shale oil (1)
- share repurchases (1)
- shareholder activism (1)
- shareholder engagement (1)
- shareholder wealth (1)
- shareholderism (1)
- sharing (1)
- shifting endpoint (1)
- shocks (1)
- short-sale constraints (1)
- short-selling (1)
- shortfall risk (1)
- similarity (1)
- simple rules (1)
- simulation (1)
- simultaneity (1)
- single point of entry (1)
- skill (1)
- skill-biased technological change (1)
- slumps (1)
- small and medium enterprises (1)
- small business lending (1)
- smoothing (1)
- sniping (1)
- social (1)
- social capital (1)
- social centralization (1)
- social cleavage (1)
- social cleavages (1)
- social dilemma (1)
- social distance (1)
- social epistemology (1)
- social identity (1)
- social impact (1)
- social impact bonds (1)
- social interaction (1)
- social justice (1)
- social movements (1)
- social network analysis (1)
- social networks (1)
- social norm (1)
- social relations (1)
- social security claiming (1)
- social-ecological conditions (1)
- socialchange (1)
- socialist education (1)
- socially responsible consumers (1)
- societal (1)
- society (1)
- soft information (1)
- soft law (1)
- software (1)
- soil (1)
- solution methods (1)
- solvency shocks (1)
- sophistication (1)
- sorting (1)
- source dependence (1)
- sources of international law (1)
- sovereign bond risk premiums (1)
- sovereign bonds (1)
- sovereign credit rating (1)
- sovereign debt crisis (1)
- sovereign debt litigation (1)
- sovereign debt restructuring (1)
- sovereign debt standstill (1)
- sovereign rating (1)
- sovereignbank linkages (1)
- soziale Interaktion (1)
- space (1)
- space bounded computations (1)
- spectral regression (1)
- speculative trading (1)
- spending cuts (1)
- spillovers (1)
- spot covariance (1)
- spread premium (1)
- sset pricing (1)
- stability of equilibria (1)
- stable convergence (1)
- stakeholder (1)
- stakeholder governance (1)
- staleness (1)
- standard setting (1)
- state (1)
- state aid (1)
- state dependency (1)
- state of innocence (1)
- state of nature (1)
- state-contingent contracts (1)
- state-dependent sensitivity value-at-risk (SDSVaR) (1)
- state-space model (1)
- statement indicators (1)
- stationarity (1)
- statistical risk measurement (1)
- statistical testing (1)
- statistics (1)
- stealth trading (1)
- steppe ecosystem (1)
- stewardship codes (1)
- sticky expectations (1)
- sticky information (1)
- sticky wages (1)
- stochastic control (1)
- stochastic interest rates (1)
- stochastic jumps (1)
- stochastic volability (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)
- straight line programs (1)
- strategic complementarity (1)
- strategic interaction of regulators (1)
- strategic trading (1)
- strategies (1)
- strategy review (1)
- stress test (1)
- strictness analysis (1)
- structural change (1)
- structural estimation (1)
- structural power (1)
- structural scenario analysis (1)
- structured products (1)
- subjective expectations (1)
- subordinated debt (1)
- subsidiaries (1)
- substitution (1)
- sunspots (1)
- super-elasticity (1)
- superhedging (1)
- supervision (1)
- supervisory board (1)
- supervisory intervention (1)
- supply chain (1)
- supply-side system (1)
- surrogate punishment (1)
- survey expectations (1)
- survey experiment (1)
- survey experiments (1)
- survey forecasts (1)
- sustainability KPIs (1)
- sustainability disclosures (1)
- sustainable fisheries (1)
- sustainable investments (1)
- sustainable mobility culture (1)
- symbolic interactionsim (1)
- symbolischer Interaktionismus (1)
- synchronization (1)
- systematic stability (1)
- systematisches Risiko (1)
- systemic importance (1)
- systemic risk analysis (1)
- systemic risk charge (1)
- systemic risk contribution (1)
- systemic risk fund (1)
- systemic risk network (1)
- systemic risk, too-interconnected-to-fail (1)
- tail dependence (1)
- tail measure (1)
- talent, learning (1)
- tanker (1)
- targets (1)
- taste heterogeneity (1)
- tax administration (1)
- tax arbitrage (1)
- tax clientele effects (1)
- tax competition (1)
- tax cut (1)
- tax exempt accounts (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)
- tax systems (1)
- tax-deferred accounts (1)
- taxing rights (1)
- taxonomies (1)
- taxonomy (1)
- teacher (1)
- teacher training (1)
- teachers (1)
- team production problem (1)
- technical and fundamental trading (1)
- technical barriers to trade (1)
- technological change (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)
- territorial scope of EU law (1)
- terror-supporting nations (1)
- text analysis (1)
- text and data mining (1)
- textual analysis (1)
- theory of computation (1)
- theory of the firm (1)
- threshold vector auto-regressive models (1)
- tight oil (1)
- time charter (1)
- time consistency (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)
- too big to fail (1)
- too low for too long (1)
- too-big-to-fail (1)
- topic modelling (1)
- total connectedness (1)
- total directional connect- edness (1)
- total loss absorbing capacity (TLAC) (1)
- trade (1)
- trade credit (1)
- trade jurisdiction (1)
- trade signaling (1)
- trademark (1)
- trademarks (1)
- trading activity (1)
- trading intensity (1)
- trading pause (1)
- trading process (1)
- trading rules (1)
- trading strategies (1)
- tradition (1)
- traffic (1)
- traffic planning (1)
- trafficking in women (1)
- training (1)
- trans-nationalisation (1)
- transaction costs (1)
- transactions (1)
- transboundary aquifers (1)
- transition (1)
- transition countries (1)
- transition risk (1)
- translation (1)
- transmigration (1)
- transmission mechanism (1)
- transnational professional communities (1)
- transnational social protection (1)
- transnationalism (1)
- treasury auctions (1)
- treaties (1)
- tree grammars (1)
- trend chasing (1)
- trend inflation (1)
- trend-cycle decomposition (1)
- trend-extrapolation (1)
- troika (1)
- trust driven expectations (1)
- trust evolutionary games (1)
- trust game (1)
- tunneling (1)
- twin study (1)
- two-asset portfolio (1)
- two-pillar system (1)
- tâtonnement (1)
- uncertainty aversion (1)
- underinvestment (1)
- underpricing (1)
- union membership (1)
- union preferencies (1)
- unit root test (1)
- updating (1)
- usury (1)
- utility dividends (1)
- utility functions (1)
- valuation (1)
- valuation adjustment (1)
- valuation discount (1)
- valuation ratios (1)
- value at risk (1)
- value chain (1)
- values (1)
- variable annuity (1)
- variance decomposition (1)
- variance risk premium (1)
- vector autoregression (1)
- vector error correction model (1)
- vector-autoregression (1)
- venture capital and bank financing (1)
- venture capitalism (1)
- venture funding (1)
- vertical differentiation (1)
- vertical fiscal imbalances (1)
- verzögerte Auswertung (1)
- victims (1)
- vignette survey method (1)
- village committees (1)
- volatility estimation (1)
- volatility forecasting (1)
- volatility of volatility (1)
- voting behaviour (1)
- voting premium (1)
- voyage (1)
- vulture creditors (1)
- wage gap (1)
- wage hump (1)
- wage rigidity (1)
- wage subsidies (1)
- war (1)
- watchlist (1)
- water (1)
- waterbed effect (1)
- weak identification (1)
- wealth distribution (1)
- wealth effects (1)
- weather (1)
- weiwen (1)
- welfare costs (1)
- welfare effects (1)
- welfare state (1)
- when-issued trading (1)
- wholesale shocks (1)
- wikidata (1)
- wildlife mobility (1)
- winner's curse (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)
- yields (1)
- z-Transform (1)
- zero returns (1)
- zero-interest-rate bound (1)
- fiscal multipliers (1)
- Åland (1)
- Öffentliches Gesundheitswesen (1)
- Öffentlichkeitsarbeit (1)
- Ökonometrie (1)
- Ökonometrisches Modell (1)
- Übernahmeangebot (1)
- Überschneidung von Generationen (1)
- Übersetzung (1)
- Łaski, Jan (the older) (1)
- ΔCoVaR (1)
- ‘dolphin-safe’ labels (1)
- ‘u’-shape (1)
- “Return Home” Syndrome ; Jihad (1)
- financial literacy (1)
Institute
- Center for Financial Studies (CFS) (1378)
- Wirtschaftswissenschaften (1308)
- Sustainable Architecture for Finance in Europe (SAFE) (740)
- House of Finance (HoF) (606)
- Institute for Monetary and Financial Stability (IMFS) (173)
- Rechtswissenschaft (148)
- Informatik (114)
- Foundation of Law and Finance (50)
- Exzellenzcluster Die Herausbildung normativer Ordnungen (34)
- Gesellschaftswissenschaften (29)
Cross-predictability denotes the fact that some assets can predict other assets' returns. I propose a novel performance-based measure that disentangles the economic value of cross-predictability into two components: the predictive power of one asset's signal for other assets' returns (cross-predictive signals) and the amount of an asset's return explained by other assets' signals (cross-predicted returns). Empirically, the latter component dominates the former in the overall cross-prediction effects. In the crosssection, cross-predictability gravitates towards small firms that are strongly mispriced and difficult to arbitrage, while it becomes more difficult to cross-predict returns when market capitalization and book-to-market ratio rise.
This paper examines the dynamic relationship between firm leverage and risktaking. We embed the traditional agency problem of asset substitution within a multi-period model, revealing a U-shaped relationship between leverage and risktaking, evident in data from both the U.S. and Europe. Firms with medium leverage avoid risk to preserve the option of issuing safe debt in the future. This option is valuable because safe debt does not incur the expected cost of bankruptcy, anticipated by debt-holders due to future risk-taking incentives. Our model offers new insights on the interaction between companies' debt financing and their risk profiles.
Regulating IP exclusion/inclusion on a global scale: the example of copyright vs. AI training
(2024)
This article builds upon the literature on inclusion/inclusivity in IP law by applying these concepts to the example of the scraping and mining of copyright-protected content for the purpose of training an artificial intelligence (AI) system or model. Which mode of operation dominates in this technological area: exclusion, inclusion or even inclusivity? The features of AI training appear to call for universal and sustainable “inclusivity” instead of a mere voluntary “inclusion” of AI provider bots by copyright holders. As the overview on the copyright status of AI training activities in different jurisdictions and emerging laws on AI safety (such as the EU AI Act) demonstrates, the global regulatory landscape is, however, much too fragmented and dynamic to immediately jump to an inclusive global AI regime. For the time being, legally secure global AI training requires the voluntary cooperation between AI providers and copyright holders, and innovative techno-legal reasoning is needed on how to effectuate this inclusion.
We use a structural VAR model to study the German natural gas market and investigate the impact of the 2022 Russian supply stop on the German economy. Combining conventional and narrative sign restrictions, we find that gas supply and demand shocks have large and persistent price effects, while output effects tend to be moderate. The 2022 natural gas price spike was driven by adverse supply
shocks and positive storage demand shocks, as Germany filled its inventories before the winter. Counterfactual simulations of an embargo on natural gas imports from Russia indicate similar positive price and negative output effects compared to what we observe in the data.
The EU Commission proposed a regulation on artificial intelligence (AI) on 21 April 2021, which categorizes the use of AI in “social credit” as a prohibited application. This paper examines the definition and structure of the Social Credit System in China, which comprises various systems operating at different levels and sectors. The analysis focuses on two main subsystems: the database and one-stop inquiry platform for financial credit records, and the social governance tool designed to facilitate legal and political compliance. The development of the commercial customer credit reference is also explored. This paper further discusses the impacts and concerns associated with the implementation of the Chinese social credit system to raise awareness. The objective is to offer insights from the existing system and contribute to the ongoing discussion on regulating AI applications in social credit within the EU.
Experiments are an important tool in economic research. However, it is unclear to which extent the control of experiments extends to the perceptions subjects form of such experimental decision situations. This paper is the first to explicitly elicit perceptions of the dictator and trust game and shows that there is substantial heterogeneity in how subjects perceive the same game. Moreover, game perceptions depend not only on the game itself but also on the order of games (i.e., the broader experimental context in which the game is embedded) and the subject herself. This highlights that the control of experiments does not necessarily extend to game perceptions. The paper also demonstrates that perceptions are correlated with game behavior and moderate the relationship between game behavior and field behavior, thereby underscoring the importance and relevance of game perceptions for economic research.
This paper shows that support for climate action is high across survey participants from all EU countries in three dimensions: (1) Participants are willing to contribute personally to combating climate change, (2) they approve of pro-climate social norms, and (3) they demand government action. In addition, there is a significant perception gap where individuals underestimate others' willingness to contribute to climate action by over 10 percentage points, influencing their own willingness to act. Policymakers should recognize the broad support for climate action among European citizens and communicate this effectively to counteract the vocal minority opposed to it.
In recent decades, biodiversity has declined significantly, threatening ecosystem services that are vital to society and the economy. Despite the growing recognition of biodiversity risks, the private sector response remains limited, leaving a significant financing gap. The paper therefore describes market-based solutions to bridge the financing gap, which can follow a risk assessment approach and an impact-oriented perspective. Key obstacles to mobilising private capital for biodiversity conservation are related to pricing biodiversity due to its local dimension, the lack of standardized metrics for valuation and still insufficient data reporting by companies hindering informed investment decisions. Financing biodiversity projects poses another challenge, mainly due to a mismatch between investor needs and available projects, for example in terms of project timeframes and their additionality.
The development of China’s exports – is there a decoupling from the EU and the United States?
(2024)
Some observers warn that a high level of economic dependence on China could negatively affect the economic resilience of Western economies and therefore recommend reducing such dependence by gradually decoupling from China. On the other hand, industry leaders emphasise the economic importance of China and warn against any kind of trade conflicts.
Against this background, we briefly analyse the development of China’s export strategy. We find that the export intensity of the Chinese economy is diminishing and that exports are becoming more diversified overall. In addition, the relative importance of the United States and the European Union as export markets has been reduced, indicating a gradual decoupling of China from Western economies. Conversely, we find that exports to China have become more important, both for the EU and the United States. Although the figures remain at a non-critical level, Europe’s export activities could be more diversified as well.
How does the design of debt repayment schedules affect household borrowing? To answer this question, we exploit a Swedish policy reform that eliminated interest-only mortgages for loan-to-value ratios above 50%. We document substantial bunching at the threshold, leading to 5% lower borrowing. Wealthy borrowers drive the results, challenging credit constraints as the primary explanation. We develop a model to evaluate the mechanisms driving household behavior and find that much of the effect comes from households experiencing ongoing flow disutility to amortization payments. Our results indicate that mortgage contracts with low initial payments substantially increase household borrowing and lifetime interest costs.
We educate investors with significant dividend holdings about the benefits of dividend reinvestment and the costs of misperceiving dividends as additional, free income. The intervention increases planned dividend reinvestment in survey responses. Using trading records, we observe a corresponding causal increase in dividend reinvestment in the field of roughly 50 cents for every euro received. This holds relative to their prior behavior and a placebo sample. Investors who learned the most from the intervention update their trading by the largest extent. The results suggest the free dividends fallacy is a significant source of dividend demand. Our study demonstrates that simple, targeted, and focused educational interventions can affect investment behavior.
Inflation and trading
(2024)
We study how investors respond to inflation combining a customized survey experiment with trading data at a time of historically high inflation. Investors' beliefs about the stock return-inflation relation are very heterogeneous in the cross section and on average too optimistic. Moreover, many investors appear unaware of inflation-hedging strategies despite being otherwise well-informed about inflation and asset returns. Consequently, whereas exogenous shifts in inflation expectations do not impact return expectations, information on past returns during periods of high inflation leads to negative updating about the perceived stock-return impact of inflation, which feeds into return expectations and subsequent actual trading behavior.
This paper contributes a multivariate forecasting comparison between structural models and Machine-Learning-based tools. Specifically, a fully connected feed forward non-linear autoregressive neural network (ANN) is contrasted to a well established dynamic stochastic general equilibrium (DSGE) model, a Bayesian vector autoregression (BVAR) using optimized priors as well as Greenbook and SPF forecasts. Model estimation and forecasting is based on an expanding window scheme using quarterly U.S. real-time data (1964Q2:2020Q3) for 8 macroeconomic time series (GDP, inflation, federal funds rate, spread, consumption, investment, wage, hours worked), allowing for up to 8 quarter ahead forecasts. The results show that the BVAR improves forecasts compared to the DSGE model, however there is evidence for an overall improvement of predictions when relying on ANN, or including them in a weighted average. Especially, ANN-based inflation forecasts improve other predictions by up to 50%. These results indicate that nonlinear data-driven ANNs are a useful method when it comes to macroeconomic forecasting.
Central bank intervention in the form of quantitative easing (QE) during times of low interest rates is a controversial topic. The author introduces a novel approach to study the effectiveness of such unconventional measures. Using U.S. data on six key financial and macroeconomic variables between 1990 and 2015, the economy is estimated by artificial neural networks. Historical counterfactual analyses show that real effects are less pronounced than yield effects.
Disentangling the effects of the individual asset purchase programs, impulse response functions provide evidence for QE being less effective the more the crisis is overcome. The peak effects of all QE interventions during the Financial Crisis only amounts to 1.3 pp for GDP growth and 0.6 pp for inflation respectively. Hence, the time as well as the volume of the interventions should be deliberated.
We create an alternative version of the present utility value formula to explicitly show that every store-of-value in the economy bears utility-interest (non-pecuniary income) for ist holder regardless of possible interest earnings from financial markets. In addition, we generalize the well-known welfare measures of consumer and producer surplus as present value concepts and apply them not only for the production and usage of consumer goods and durables but also for money and other financial assets. This helps us, inter alia, to formalize the circumstances under which even a producer of legal tender might become insolvent. We also develop a new measure of seigniorage and demonstrate why the well-established concept of monetary seigniorage is flawed. Our framework also allows us to formulate the conditions for liability-issued money such as inside money and financial instruments such as debt certificates to become – somewhat paradoxically – net wealth of the society.
Almost ten years after the European Commission action plan on building a capital markets union (CMU) and despite incremental progress, e.g. in the form of the EU Listing Act, the picture looks dire. Stock exchanges, securities markets, and supervisory authorities remain largely national, and, in many cases, European companies have decided to exclusively list overseas. Notwithstanding the economic and financial benefits of market integration, CMU has become a geopolitical necessity. A unified capital market can bolster resilience, strategic autonomy, and economic sovereignty, reduce dependence on external funding, and may foster economic cooperation between member states.
The reason for the persistent stand-still in Europe’s CMU development is not so much the conflict between market- and state-based integration, but rather the hesitancy of national regulatory and supervisory bodies to relinquish powers. If EU member states wanted to get real about CMU (as they say, and as they should), they need to openly accept the loss of sovereignty that follows from a true unified capital market. Building on economic as well as historical evidence, the paper offers viable proposals on how to design competent institutions within the current European framework.
This note outlines the case for speedy capital market integration and for the adoption of a common regulatory framework and single supervisory authority from a political economy perspective. We also show the alternative case for harmonization and centralization via regulatory competition, elaborating how competition between EU jurisdictions by way of full mutual recognition may lead to a (cost-)efficient and standardized legal framework for capital markets. Lastly, the note addresses the political economy conflict that underpins the implementation of both models for integrating capital markets. We point out that, in both cases, national authorities experience a loss of legislative and jurisdictional competence at the national level. We predict that any plan to foster a stronger capital market union, following an institution based or a market-based strategy, will face opposition from powerful national stakeholders.
This study analyses potential consequences of exiting the Targeted Long-Term Refinancing Operations (TLTRO) of the European Central Bank (ECB). Thanks to its asset purchase programs, the Eurosystem still holds plenty of reserves even with a full exit from the TLTROs. This explains why voluntary and mandatory repayments of TLTRO III borrowing went smoothly. Nevertheless, the more liquidity is drained from the banking system, the more important becomes interbank market borrowing and lending, ideally between euro area member states. Right now, the usual fault lines of the euro area show up. The German banking system has plenty of reserves while there are first signs of aggregate scarcity in the Italian banking system. This does not need to be a source of concern if the interbank market can be sufficiently reactivated. Moreover, the ECB has several tools to address possible future liquidity shortages.
This document was provided/prepared by the Economic Governance and EMU scrutiny Unit at the request of the ECON Committee.
We extend the canonical income process with persistent and transitory risk to cyclical shock distributions with left-skewness and excess kurtosis. We estimate our income process by GMM for US household data. We find countercyclical variance and procyclical skewness of persistent shocks. All shock distributions are highly leptokurtic. The tax and transfer system reduces dispersion and left-skewness. We then show that in a standard incomplete-markets life-cycle model, first, higherorder risk has sizable welfare implications, which depend on risk attitudes; second, it matters quantitatively for the welfare costs of cyclical idiosyncratic risk; third, it has non-trivial implications for self-insurance against shocks.
A stochastic forward-looking model to assess the profitability and solvency of European insurers
(2016)
In this paper, we develop an analytical framework for conducting forward-looking assessments of profitability and solvency of the main euro area insurance sectors. We model the balance sheet of an insurance company encompassing both life and non-life business and we calibrate it using country level data to make it representative of the major euro area insurance markets. Then, we project this representative balance sheet forward under stochastic capital markets, stochastic mortality developments and stochastic claims. The model highlights the potential threats to insurers solvency and profitability stemming from a sustained period of low interest rates particularly in those markets which are largely exposed to reinvestment risks due to the relatively high guarantees and generous profit participation schemes. The model also proves how the resilience of insurers to adverse financial developments heavily depends on the diversification of their business mix. Finally, the model identifies potential negative spillovers between life and non-life business thorugh the redistribution of capital within groups.
The economic rise of China has changed the global economy. The authors explore China’s transformation from a low-cost manufacturing hub to an increasingly innovation- and service-driven economy. Major growth drivers for the period 2010-2025 are analysed, including the paradigms of “Made in China” and the “Dual Circulation Strategy”. The export intensity of China’s economy is declining overall, with a tendency towards greater regional diversification and a gradual decoupling from North America and the European Union. At the same time, trade and investment activities are increasingly geared to the Belt and Road Initiative. Furthermore, labour and energy cost advantages for manufacturing operations in China are likely to diminish in the coming years, calling into question China’s attractiveness as a global manufacturing hub. In this regard, the further development of regional and industrial clusters is pivotal for China to enhance its global competitiveness and remain an attractive destination for foreign direct investment (FDI) in the medium term. On the other hand, high productivity in science and technology and rich deposits of critical minerals put China in a favourable position in advanced industries. Important challenges include the still wide development gap between rural and urban areas, the structural mismatch in the labour market, with persistently high youth unemployment, and the race to achieve carbon neutrality by 2060.
This paper studies whether Eurosystem collateral eligibility played a role in the portfolio choices of euro area asset managers during the “dash-for-cash” episode of 2020. We find that asset managers reduced their allocation to ECB-eligible corporate bonds, selling them in order to finance redemptions, while simultaneously increasing their cash holdings. These findings add nuance to previous studies of liquidity strains and price dislocations in the corporate bond market during the onset of the Covid-19 pandemic, indicating a greater willingness of dealers to increase their inventories of corporate bonds pledgeable with the ECB. Analysing the price impact of these portfolio choices, we also find evidence pointing to price pressure for both ECB-eligible and ineligible corporate bonds. Bonds that were held to a larger extent by investment funds in our sample experienced higher price pressure, although the impact was lower for ECB-eligible bonds. We also discuss broader implications for the related policy debate about how central banks could mitigate similar types of liquidity shocks.
We consider an additively time-separable life-cycle model for the family of power period utility functions u such that u0(c) = c−θ for resistance to inter-temporal substitution of θ > 0. The utility maximization problem over life-time consumption is dynamically inconsistent for almost all specifications of effective discount factors. Pollak (1968) shows that the savings behavior of a sophisticated agent and her naive counterpart is always identical for a logarithmic utility function (i.e., for θ = 1). As an extension of Pollak’s result we show that the sophisticated agent saves a greater (smaller) fraction of her wealth in every period than her naive counterpart whenever θ > 1 (θ < 1) irrespective of the specification of discount factors. We further show that this finding extends to an environment with risky returns and dynamically inconsistent Epstein-Zin-Weil preferences.
Using a structural life-cycle model and data on school visits from Safegraph and school closures from Burbio, we quantify the heterogeneous impact of school closures during the Corona crisis on children affected at different ages and coming from households with different parental characteristics. Our data suggests that secondary schools were closed for in-person learning for longer periods than elementary schools (implying that younger children experienced less school closures than older children), and that private schools experienced shorter closures than public schools, and schools in poorer U.S. counties experienced shorter school closures. We then extend the structural life cycle model of private and public schooling investments studied in Fuchs-Schündeln, Krueger, Ludwig, and Popova (2021) to include the choice of parents whether to send their children to private schools, empirically discipline it with data on parental investments from the PSID, and then feed into the model the school closure measures from our empirical analysis to quantify the long-run consequences of the Covid-19 school closures on the cohorts of children currently in school. Future earnings- and welfare losses are largest for children that started public secondary schools at the onset of the Covid-19 crisis. Comparing children from the topto children from the bottom quartile of the income distribution, welfare losses are ca. 0.8 percentage points larger for the poorer children if school closures were unrelated to income. Accounting for the longer school closures in richer counties reduces this gap by about 1/3. A policy intervention that extends schools by 3 months (6 weeks in the next two summers) generates significant welfare gains for the children and raises future tax revenues approximately sufficient to pay for the cost of this schooling expansion.
Using a structural life-cycle model, we quantify the heterogeneous impact of school closures during the Corona crisis on children affected at different ages and coming from households with different parental characteristics. In the model, public investment through schooling is combined with parental time and resource investments in the production of child human capital at different stages in the children’s development process. We quantitatively characterize the long-term consequences from a Covid-19 induced loss of schooling, and find average losses in the present discounted value of lifetime earnings of the affected children of close to 1%, as well as welfare losses equivalent to about 0.6% of permanent consumption. Due to self-productivity in the human capital production function, skill attainment at a younger stage of the life cycle raises skill attainment at later stages, and thus younger children are hurt more by the school closures than older children. We find that parental reactions reduce the negative impact of the school closures, but do not fully offset it. The negative impact of the crisis on children’s welfare is especially severe for those with parents with low educational attainment and low assets. The school closures themselves are primarily responsible for the negative impact of the Covid-19 shock on the long-run welfare of the children, with the pandemic-induced income shock to parents playing a secondary role.
We characterize the optimal linear tax on capital in an Overlapping Generations model with two period lived households facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium effects of private precautionary saving on factor prices and taxes capital unless the weight on future generations in the social welfare function is sufficiently high. For logarithmic utility a complete analytical solution of the Ramsey problem exhibits an optimal aggregate saving rate that is independent of income risk, whereas the optimal time-invariant tax on capital implementing this saving rate is increasing in income risk. The optimal saving rate is constant along the transition and its sign depends on the magnitude of risk and on the Pareto weight of future generations. If the Ramsey tax rate that maximizes steady state utility is positive, then implementing this tax rate permanently induces a Pareto-improving transition even if the initial equilibrium capital stock is below the golden rule.
Households buy life insurance as part of their liquidity management. The option to surrender such a policy can serve as a buffer when a household faces a liquidity need. In this study, we investigate empirically which individual and household specific sociodemographic factors influence the surrender behavior of life insurance policyholders. Based on the Socio-Economic Panel (SOEP), an ongoing wide-ranging representative longitudinal study of around 11,000 private households in Germany, we construct a proxy to identify life insurance surrender in the data. We use this proxy to conduct fixed effect regressions and support the results with survival analyses. We find that life events that possibly impose a liquidity shock to the household, such as birth of a child and divorce increase the likelihood to surrender an existing life insurance policy for an average household in the panel. The acquisition of a dwelling and unemployment are further aspects that can foster life insurance surrender. Our results are robust with respect to different models and hold conditioning on region specific trends; they vary however for different age groups. Our analyses contribute to the existing literature supporting the emergency fund hypothesis. The findings obtained in this study can help life insurers and regulators to detect and understand industry specific challenges of the demographic change.
Telemonitoring devices can be used to screen consumer characteristics and mitigate information asymmetries that lead to adverse selection in insurance markets. Nevertheless, some consumers value their privacy and dislike sharing private information with insurers. In a secondbest efficient Miyazaki-Wilson-Spence (MWS) framework, we allow consumers to reveal their risk type for an individual subjective cost and show analytically how this affects insurance market equilibria as well as social welfare. We find that information disclosure can substitute deductibles for consumers whose transparency aversion is sufficiently low. This can lead to a Pareto improvement of social welfare. Yet, if all consumers are offered cross-subsidizing contracts, the introduction of a screening contract decreases or even eliminates cross-subsidies. Given the prior existence of a cross-subsidizing MWS equilibrium, utility is shifted from individuals who do not reveal their private information to those who choose to reveal. Our analysis informs the discussion on consumer protection in the context of digitalization. It shows that new technologies challenge cross-subsidization in insurance markets, and it stresses the negative externalities that digitalization has on consumers who are unwilling to take part in this
development
What are the aggregate and distributional consequences of the relationship be-tween an individual’s social network and financial decisions? Motivated by several well-documented facts about the influence of social connections on financial decisions, we build and calibrate a model of stock market participation with a social network that emphasizes the interplay between connectivity and network structure. Since connections to informed agents help spread information, there is a pivotal role for factors that determine sorting among agents. An increase in the average number of connections raises the average participation rate, mostly due to richer agents. A higher degree of sorting benefits richer agents by creating clusters where information spreads more efficiently. We show empirical evidence consistent with the importance of connectivity and sorting. We discuss several new avenues for future research into the aggregate impact of peer effects in finance.
Looking beyond ESG preferences: The role of sustainable finance literacy in sustainable investing
(2024)
We assess how sustainable finance literacy affects people’s sustainable investment behavior, using a pre-registered experiment. We find that an increase in sustainable finance literacy leads to a 4 to 5% increase in the probability of investing sustainably. This effect is moderated by sustainability preferences. In the absence of moderate sustainability preferences, any additional increase in sustainable finance literacy is at minimum irrelevant, and we find some evidence that it might even reduce sustainable investments. Our findings underscore the role of knowledge in shaping sustainable investment decisions, highlighting the importance of factors beyond sustainability preferences.
Telemonitoring devices can be used to screen consumer characteristics and mitigate information asymmetries that lead to adverse selection in insurance markets. Nevertheless, some consumers value their privacy and dislike sharing private information with insurers. In a secondbest efficient Miyazaki-Wilson-Spence (MWS) framework, we allow consumers to reveal their risk type for an individual subjective cost and show analytically how this affects insurance market equilibria as well as social welfare. We find that information disclosure can substitute deductibles for consumers whose transparency aversion is sufficiently low. This can lead to a Pareto improvement of social welfare. Yet, if all consumers are offered cross-subsidizing contracts, the introduction of a screening contract decreases or even eliminates cross-subsidies. Given the prior existence of a cross-subsidizing MWS equilibrium, utility is shifted from individuals who do not reveal their private information to those who choose to reveal. Our analysis informs the discussion on consumer protection in the context of digitalization. It shows that new technologies challenge cross-subsidization in insurance markets, and it stresses the negative externalities that digitalization has on consumers who are unwilling to take part in this development.
This paper uses laboratory experiments to provide a systematic analysis of how di↵erent presentation formats a↵ect individuals’ investment decisions. The results indicate that the type of presentation as well as personal characteristics influence both, the consistency of decisions and the riskiness of investment choices. However, while personal characteristics have a larger impact on consistency, the chosen risk level is determined more by framing e↵ects. On the level of personal characteristics, participants’ decisions show that better financial literacy and a better understanding of the presentation format enhance consistency and thus decision quality. Moreover, female participants on average make less consistent decisions and tend to prefer less risky alternatives. On the level of framing dimensions, subjects choose riskier investments when possible outcomes are shown in absolute values rather than rates of return and when the loss potential is less obvious. In particular, reducing the emphasis on downside risk and upside potential simultaneously leads to a substantial increase in risk taking.
This paper is the first to conduct an incentive-compatible experiment using real monetary payoffs to test the hypothesis of probabilistic insurance which states that willingness to pay for insurance decreases sharply in the presence of even small default probabilities as compared to a risk-free insurance contract. In our experiment, 181 participants state their willingness to pay for insurance contracts with different levels of default risk. We find that the willingness to pay sharply decreases with increasing default risk. Our results hence strongly support the hypothesis of probabilistic insurance. Furthermore, we study the impact of customer reaction to default risk on an insurer’s optimal solvency level using our experimentally obtained data on insurance demand. We show that an insurer should choose to be default-free rather than having even a very small default probability. This risk strategy is also optimal when assuming substantial transaction costs for risk management activities undertaken to achieve the maximum solvency level.
In this paper I assess the effect of interest rate risk and longevity risk on the solvency position of a life insurer selling policies with minimum guaranteed rate of return, profit participation and annuitization option at maturity. The life insurer is assumed to be based in Germany and therefore subject to German regulation as well as to Solvency II regulation. The model features an existing back book of policies and an existing asset allocation calibrated on observed data, which are then projected forward under stochastic financial markets and stochastic mortality developments. Different scenarios are proposed, with particular focus on a prolonged period of low interest rates and strong reduction in mortality rates. Results suggest that interest rate risk is by far the greatest threat for life insurers, whereas longevity risk can be more easily mitigated and thereby is less detrimental. Introducing a dynamic demand for new policies, i.e. assuming that lower offered guarantees are less attractive to savers, show that a decreasing demand may even be beneficial for the insurer in a protracted period of low interest rates. Introducing stochastic annuitization rates, i.e. allowing for deviations from the expected annuitization rate, the solvency position of the life insurer worsen substantially. Also profitability strongly declines over time, casting doubts on the sustainability of traditional life business going forward with the low interest rate environment. In general, in the proposed framework it is possible to study the evolution over time of an existing book of policies when underlying financial market conditions and mortality developments drastically change. This feature could be of particular interest for regulatory and supervisory authorities within their financial stability mandate, who could better evaluate micro- and macro-prudential policy interventions in light of the persistent low interest rate environment.
Socially responsible investing (SRI) continues to gain momentum in the financial market space for various reasons, starting with the looming effect of climate change and the drive toward a net-zero economy. Existing SRI approaches have included environmental, social, and governance (ESG) criteria as a further dimension to portfolio selection, but these approaches focus on classical investors and do not account for specific aspects of insurance companies. In this paper, we consider the stock selection problem of life insurance companies. In addition to stock risk, our model set-up includes other important market risk categories of insurers, namely interest rate risk and credit risk. In line with common standards in insurance solvency regulation, such as Solvency II, we measure risk using the solvency ratio, i.e. the ratio of the insurer’s market-based equity capital to the Value-at-Risk of all modeled risk categories. As a consequence, we employ a modification of Markowitz’s Portfolio Selection Theory by choosing the “solvency ratio” as a downside risk measure to obtain a feasible set of optimal portfolios in a three-dimensional (risk, return, and ESG) capital allocation plane. We find that for a given solvency ratio, stock portfolios with a moderate ESG level can lead to a higher expected return than those with a low ESG level. A highly ambitious ESG level, however, reduces the expected return. Because of the specific nature of a life insurer’s business model, the impact of the ESG level on the expected return of life insurers can substantially differ from the corresponding impact for classical investors.
Low interest rates are becoming a threat to the stability of the life insurance industry, especially in countries such as Germany, where products with relatively high guaranteed returns sold in the past still represent a prominent share of the total portfolio. This contribution aims to assess and quantify the effects of the current low interest rate phase on the balance sheet of a representative German life insurer, given the current asset allocation and the outstanding liabilities. To do so, we generate a stochastic term structure of interest rates as well as stock market returns to simulate investment returns of a stylized life insurance business portfolio in a multi-period setting. Based on empirically calibrated parameters, we can observe the evolution of the life insurers’ balance sheet over time with a special focus on their solvency situation. To account for different scenarios and in order to check the robustness of our findings, we calibrate different capital market settings and different initial situations of capital endowment. Our results suggest that a prolonged period of low interest rates would markedly affect the solvency situation of life insurers, leading to a relatively high cumulative probability of default, especially for less capitalized companies. In addition, the new reform of the German life insurance regulation has a beneficial effect on the cumulative probability of default, as a direct consequence of the reduction of the payouts to policyholders.
We prove the existence of an equilibrium in competitive markets with adverse selection in the sense of Miyazaki (1977), Wilson (1977), and Spence (1978) when the distribution of unobservable risk types is continuous. Our proof leverages the finite-type proof in Spence (1978) and a limiting argument akin to Hellwig (2007)’s study of optimal taxation.
Different insurance activities exhibit different levels of persistence of shocks and volatility. For example, life insurance is typically more persistent but less volatile than non-life insurance. We examine how diversification among life, non-life insurance, and active reinsurance business affects an insurer's contribution and exposure to the risk of other companies. Our model shows that a counterparty's credit risk exposure to an insurance group substantially depends on the relative proportion of the insurance group's life and non-life business. The empirical analysis confirms this finding with respect to several measures for spillover risk. The optimal proportion of life business that minimizes spillover risk decreases with leverage of the insurance group, and increases with active reinsurance business.
This paper studies insurance demand for individuals with limited financial literacy. We propose uncertainty about insurance payouts, resulting from contract complexity, as a novel channel that affects decision-making of financially illiterate individuals. Then, a trade-off between second-order (risk aversion) and third-order (prudence) risk preferences drives insurance demand. Sufficiently prudent individuals raise insurance demand upon an increase in contract complexity, while the effect is reversed for less prudent individuals. We characterize competitive market equilibria that feature complex contracts since firms face costs to reduce complexity. Based on the equilibrium analysis, we propose a monetary measure for the welfare cost of financial illiteracy and show that it is mainly driven by individuals’ risk aversion. Finally, we discuss implications for regulation and consumer protection.
Telemonitoring devices can be used to screen consumers' characteristics and mitigate information asymmetries that lead to adverse selection in insurance markets. However, some consumers value their privacy and dislike sharing private information with insurers. In the second-best efficient Wilson-Miyazaki-Spence framework, we allow for consumers to reveal their risk type for an individual subjective cost and show analytically how this affects insurance market equilibria as well as utilitarian social welfare. Our analysis shows that the choice of information disclosure with respect to revelation of their risk type can substitute deductibles for consumers whose transparency aversion is sufficiently low. This can lead to a Pareto improvement of social welfare and a Pareto efficient market allocation. However, if all consumers are offered cross-subsidizing contracts, the introduction of a transparency contract decreases or even eliminates cross-subsidies. Given the prior existence of a WMS equilibrium, utility is shifted from individuals who do not reveal their private information to those who choose to reveal. Our analysis provides a theoretical foundation for the discussion on consumer protection in the context of digitalization. It shows that new technologies bring new ways to challenge crosssubsidization in insurance markets and stresses the negative externalities that digitalization has on consumers who are not willing to take part in this development.
The modern tontine: an innovative instrument for longevity risk management in an aging society
(2016)
The changing social, financial and regulatory frameworks, such as an increasingly aging society, the current low interest rate environment, as well as the implementation of Solvency II, lead to the search for new product forms for private pension provision. In order to address the various issues, these product forms should reduce or avoid investment guarantees and risks stemming from longevity, still provide reliable insurance benefits and simultaneously take account of the increasing financial resources required for very high ages. In this context, we examine whether a historical concept of insurance, the tontine, entails enough innovative potential to extend and improve the prevailing privately funded pension solutions in a modern way. The tontine basically generates an age-increasing cash flow, which can help to match the increasing financing needs at old ages. However, the tontine generates volatile cash flows, so that - especially in the context of an aging society - the insurance character of the tontine cannot be guaranteed in every situation. We show that partial tontinization of retirement wealth can serve as a reliable supplement to existing pension products.
The Solvency II standard formula employs an approximate Value-at-Risk approach to define risk-based capital requirements. This paper investigates how the standard formula’s stock risk calibration influences the equity position and investment strategy of a shareholder-value-maximizing insurer with limited liability. The capital requirement for stock risks is determined by multiplying a regulation-defined stock risk parameter by the value of the insurer’s stock portfolio. Intuitively, a higher stock risk parameter should reduce risky investments as well as insolvency risk. However, we find that the default probability does not necessarily decrease when reducing the investment risk (by increasing the stock investment risk parameter). We also find that depending on the precise interaction between assets and liabilities, some insurers will invest conservatively, whereas others will prefer a very risky investment strategy, and a slight change of the stock risk parameter may lead from a conservative to a high risk asset allocation.
European insurers are allowed to make discretionary decisions in the calculation of Solvency II capital requirements. These choices include the design of risk models (ranging from a standard formula to a full internal model) and the use of long-term guarantees measures. This article examines the impact and the drivers of discretionary decisions with respect to capital requirements for market risks. In a first step of our analysis, we assess the risk profiles of 49 stock insurers using daily market data. In a second step, we exploit hand-collected Solvency II data for the years 2016 to 2020. We find that long-term guarantees measures substantially influence the reported solvency ratios. The measures are chosen particularly by less solvent insurers and firms with high interest rate and credit spread sensitivities. Internal models are used more frequently by large insurers and especially for risks for which the firms have already found adequate immunization strategies.
This paper compares the shareholder-value-maximizing capital structure and pricing policy of insurance groups against that of stand-alone insurers. Groups can utilise intra-group risk diversification by means of capital and risk transfer instruments. We show that using these instruments enables the group to offer insurance with less default risk and at lower premiums than is optimal for standalone insurers. We also take into account that shareholders of groups could find it more difficult to prevent inefficient overinvestment or cross-subsidisation, which we model by higher dead-weight costs of carrying capital. The tradeoff between risk diversification on the one hand and higher dead-weight costs on the other can result in group building being beneficial for shareholders but detrimental for policyholders.
A greater firm-level transparency through enhanced disclosure provides more information regarding the risk situation of an insurer to its outside stakeholders such as stock investors and policyholders. The disclosure of the insurer's risktaking can result in negative influences on, for example, its stock performance and insurance demand when stock investors and policyholders are risk-averse. Insurers, which are concerned about the potential ex post adverse effects of risk-taking under greater transparency, are thus inclined to limit their risks ex ante. In other words, improved firm-level transparency can induce less risktaking incentive of insurers. This article investigates empirically the relationship between firm-level transparency and insurers' strategies on capitalization and risky investments. By exploring the disclosure levels and the risk behavior of 52 European stock insurance companies from 2005 to 2012, the results show that insurers tend to hold more equity capital under the anticipation of greater transparency, and this strategy on capital-holding is consistent for different types of insurance businesses. When considering the influence of improved transparency on the investment policy of insurers, the results are mixed for different types of insurers.
This article explores life insurance consumption in 31 European countries from 2003 to 2012 and aims to investigate the extent to which market transparency can affect life insurance demand. The cross-country evidence for the entire sample period shows that greater market transparency, which resolves asymmetric information, can generate a higher demand for life insurance. However, when considering the financial crisis period (2008-2012) separately, the results suggest a negative impact of enhanced market transparency on life insurance consumption. The mixed findings imply a trade-off between the reduction in adverse selection under greater market transparency and the possible negative effects on life insurance consumption during the crisis period due to more effective market discipline. Furthermore, this article studies the extent to which transparency can influence the reaction of life insurance demand to bad market outcomes: i.e., low solvency ratios or low profitability. The results indicate that the markets with bad outcomes generate higher life insurance demand under greater transparency compared to the markets that also experience bad outcomes but are less transparent.
This paper sheds light on the life insurance sector’s liquidity risk exposure. Life insurers are important long-term investors on financial markets. Due to their long-term investment horizon they cannot quickly adapt to changes in macroeconomic conditions. Rising interest rates in particular can expose life insurers to run-like situations, since a slow interest rate passthrough incentivizes policyholders to terminate insurance policies and invest the proceeds at relatively high market interest rates. We develop and empirically calibrate a granular model of policyholder behavior and life insurance cash flows to quantify insurers’ liquidity risk exposure stemming from policy terminations. Our model predicts that a sharp interest rate rise by 4.5pp within two years would force life insurers to liquidate 12% of their initial assets. While the associated fire sale costs are small under reasonable assumptions, policy terminations plausibly erase 30% of life insurers’ capital due to mark-to-market accounting. Our analysis reveals a mechanism by which monetary policy tightening increases liquidity risk exposure of non-bank financial intermediaries with long-term assets.
This paper investigates the effects of a rise in interest rate and lapse risk of endowment life insurance policies on the liquidity and solvency of life insurers. We model the book and market value balance sheet of an average German life insurer, subject to both GAAP and Solvency II regulation, featuring an existing back book of policies and an existing asset allocation calibrated by historical data. The balance sheet is then projected forward under stochastic financial markets. Lapse rates are modeled stochastically and depend on the granted guaranteed rate of return and prevailing level of interest rates. Our results suggest that in the case of a sharp increase in interest rates, policyholders sharply increase lapses and the solvency position of the insurer deteriorates in the short-run. This result is particularly driven by the interaction between a reduction in the market value of assets, large guarantees for existing policies, and a very slow adjustment of asset returns to interest rates. A sharp or gradual rise in interest rates is associated with substantial and persistent liquidity needs, that are particularly driven by lapse rates.
Under Solvency II, corporate governance requirements are a complementary, but nonetheless essential, element to build a sound regulatory framework for insurance undertakings, also to address risks not specifically mitigated by the sole solvency capital requirements. After recalling the provisions of the Second Pillar concerning the system of governance, the paper highlights the emerging regulatory trends in the corporate governance of insurance firms. Among others things, it signals the exceptional extension of the duties and responsibilities assigned to the board of directors, far beyond the traditional role of both monitoring the chief executive officer, and assessing the overall direction and strategy of the business. However, a better risk governance is not necessarily built on narrow rule-based approaches to corporate governance.
Depending on the point of time and location, insurance companies are subject to different forms of solvency regulation. In modern regulation regimes, such as the future standard Solvency II in the EU, insurance pricing is liberalized and risk-based capital requirements will be introduced. In many economies in Asia and Latin America, on the other hand, supervisors require the prior approval of policy conditions and insurance premiums, but do not conduct risk-based capital regulation. This paper compares the outcome of insurance rate regulation and risk-based capital requirements by deriving stock insurers’ best responses. It turns out that binding price floors affect insurers’ optimal capital structures and induce them to choose higher safety levels. Risk-based capital requirements are a more efficient instrument of solvency regulation and allow for lower insurance premiums, but may come at the cost of investment efforts into adequate risk monitoring systems. The paper derives threshold values for regulator’s investments into risk-based capital regulation and provides starting points for designing a welfare-enhancing insurance regulation scheme.
Insurance guarantee schemes aim to protect policyholders from the costs of insurer insolvencies. However, guarantee schemes can also reduce insurers’ incentives to conduct appropriate risk management. We investigate stock insurers’ risk-shifting behavior for insurance guarantee schemes under the two different financing alternatives: a flat-rate premium assessment versus a risk-based premium assessment. We identify which guarantee scheme maximizes policyholders’ welfare, measured by their expected utility. We find that the risk-based insurance guarantee scheme can only mitigate the insurer’s risk-shifting behavior if a substantial premium loading is present. Furthermore, the risk-based guarantee scheme is superior for improving policyholders’ welfare compared to the flat-rate scheme when the mitigating effect occurs.