The SAFE research program follows a comprehensive approach combining five key research areas: financial institutions, corporate governance, household finance, financial markets, and macro finance. In addition, two research labs on systemic risk and transparency examine the interdependencies between the five research areas. This enables SAFE to overcome the widespread parceling of research approaches and to use the specific potential of an interdisciplinary collaboration of all areas. Read more
|Florian Hett, Alexander Schmidt||Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis||Financial Institutions|
|P. Gomber, S. Sagade, E. Theissen, M. C. Weber, C. Westheide||Competition/Fragmentation in Equities Markets: A Literature Survey||Financial Markets|
|N. Branger, P. Grüning, H. Kraft, C. Meinerding, C. Schlag||Asset Pricing Under Uncertainty About Shock Propagation||Financial Markets|
SAFE promotes Ph.D. students, post-docs and assistant professors with scholarships and a mentoring program and integrates them intensively in its research activities. The Center cooperates in the promotion of young researchers with the Graduate School of Economics, Finance, and Management and the Goethe Graduate Academy. Read more
|Designing the funding side of the Single Resolution Mechanism (SRM): A proposal for a layered scheme with limited joint liability||Krahnen, Jan Pieter; Rocholl, Jörg||09 Dec 2013|
|Rescue by Regulation? Key Points of the Liikanen Report||Krahnen, Jan Pieter||06 Nov 2013|
|Commentary on ESMA Guidelines on enforcement of financial information||Böcking, Hans-Joachim; Gros, Marius; Worret, Daniel||14 Oct 2013|
|Der einheitliche Abwicklungsmechanismus – Europäisches Allheilmittel oder weiße Salbe?||Tröger, Tobias||10 Oct 2013|
|Rettung durch Regulierung? Eckpunkte des Liikanen-Berichts||Krahnen, Jan Pieter||08 Oct 2013|
The Policy Center is the second pillar of the Center of Excellence SAFE and complements the research areas. It aims at creating and maintaining a continuous dialogue with high-ranking policy makers in Europe. Both directions of communication – from politics to academia and vice versa – serve the purpose of overcoming the common separation of academia and the political realm in the area of financial market development, without giving up the neutral role of an academic institution. Read more
The regulation and supervision of financial institutions has been subject to a comprehensive reform, ever since the current financial crisis broke out. This has remained a controversial topic, high on the agenda of a number of international fora (G20, FSB, BIS, etc.). Financial crises come with significant social costs. At the same time, a robust and resilient financial system is a necessary condition for a healthy economic system – a potential trade-off, calling for an appropriate policy response. The challenge is to define a legislative and supervisory framework, which will strengthen financial markets' capacity to serve a useful purpose.
Against this background, the Center of Excellence SAFE is organizing its first Frankfurt Conference on Financial Market Policy. The conference will bring together policymakers, academics as well as industry participants in three panel sessions (“One market, one supervisor”, “Making banks failable” and “What’s up for banks – and their clients”). The objective is to foster an open debate and to contribute to a general public’s capacity to evaluate arguments and appraise policy initiatives. Program
The SAFE Data Center not only draws on the usual international data sources but also aims to create new European data sets, to bring existing data together and to process them. Its objective is to place the five central research areas of SAFE on a common European data footing.