SAFE Newsletter – Previous Issues

Q2 2016

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Research 


Adrian Buss, Bernard Dumas, Raman Uppal, Grigory Vilkov "The Intended and Unintended Consequences of Financial Market Regulations"
Nicole Branger, Patrick Grüning, Christian Schlag "Commodities, Financialization and Heterogeneous Agents"
Interview Andreas Hackethal"How to Help People to Make Better Investment Decisions?"
Policy
Martin R. Götz, Tobias H. Tröger "The Implementation of the Bail-in Tool Requires Crucial Amendments"
Guest Commentary Thomas Schäfer "The 'Deutschland-Rente'"

 


Q1 2016

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Research 


Hugh Hoikwang Kim, Raimond Maurer, Olivia S. Mitchell "Investment over the Life Cycle: Inertia and Financial Advice"
Elia Berdin, Matteo Sottocornola "Insurance Activities and Systemic Risk"
Interview Helmut Siekmann"A Central Bank Cannot Solve Structural Problems"
Policy
Jan Pieter Krahnen, Felix Noth, Ulrich Schüwer "Structural Reforms in Banking: The Role of Trading"
Guest Commentary Katharina Pistor "Illiquidity versus Insolvency – A False Dichotomy"

Q4 2015

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Research 


Daniel Harenberg, Alexander Ludwig "Do the Benefits from Social Security Outweigh the Costs of Distortionary Taxation?"
Nicole Branger, Christian Schlag, Lue Wu "'Nobody is Perfect': When Heterogeneous Investors Exhibit Different Kinds of Filtering Errors"
Interview Loriana Pelizzon"There Have Always Been Risk Spillovers in Europe"
Policy
Günter W. Beck, Hans-Helmut Kotz, Natalia Zabelina "Euro Area Macro-Financial Stability: A Flow-of-Funds Perspective"
Publication Ester Faia, Andreas Hackethal, Michael Haliassos, Katja Langenbucher (editors) "Financial Regulation: A Transatlantic Perspective"

 


Q3 2015

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Research 


Markus Behn, Rainer Haselmann, Paul Wachtel "The Effect of Pro-Cyclical Capital Regulation on Lending"
Tobias Tröger "Regulatory Influence on Market Conditions in the Banking Union"
Interview Alfons Weichenrieder"Tax Information Agreements Reduce the Shady Parts of Tax Havens’ Business"
Policy
Helmut Gründl, Tobias Niedrig "The Effects of Contingent Convertible (CoCo) Bonds on Insurers’ Capital Requirements under Solvency II"
Guest Commentary Andreas Dombret "Capital Markets Union: The Next Big Step of Financial Integration in Europe"

 


Q2 2015

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Research 


Giuliano Curatola "Loss Aversion, Habit Formation, and the Term Structures of Equity and Interest Rates"
Simone Wies, Christine Moorman "Going Public: How Stock Market Participation Changes Firm Innovation Behavior"
Interview Raimond Maurer"Well Designed Guarantees and Flexibility can Increase the Propensity to Invest in Defined Contribution Retirement Products"
Policy
Helmut Siekmann "Would the Primary Law of the European Union Support a Eurozone Exit?"
Guest Commentary Erkki Liikanen "Macroprudential Policies in Europe: A Work in Progress"

 


Q1 2015

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Research 


Elia Berdin, Helmut Gründl "The Effects of a Low Interest Rate Environment on Life Insurers"
Lisa Schöler, Bernd Skiera, Gerard J. Tellis "Stock Market Returns on Financial Innovations Before and During the Financial Crisis"
Interview Tobias Tröger "The Supervisor Should Apply the Existing Rules in a Different Way"
Policy
Matthias Thiemann, Marius Birk "The Regulation of Repo Markets: Incorporating Public Interest through a Stronger Role of Civil Society"
Guest Commentary Claudia Buch "Untangling the Risks of Banks and Governments Will Take More Than a Banking Union"

Q4 2014

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Research 


Jochen M. Schmittmann, Jenny Pirschel, Steffen Meyer, Andreas Hackethal "The Impact of Weather on German Retail Investors"
Andreas Cahn, Patrick Kenadjian "Contingent Convertible Securities: from Theory to European Regulation"
Interview Rainer Haselmann “Credit Risk of Financial Institutions has Increased through Basel II”
Policy Center
Craig M. Lewis, Christian Schlag "What does U.S. Money Market Mutual Fund Reform Portend for the European Union?"
2nd SAFE Conference on Financial Market Policy "Banking Beyond Banks"

 


Q3 2014

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Research 


Marcel Bluhm, Jan Pieter Krahnen "Systemic Risk in an Interconnected Banking System with Endogenous Asset Markets"
Sascha Baghestanian, Todd B. Walker "Thar She Blows Again: Reducing Anchoring Rekindles Bubbles"
Interview Alexander Ludwig “Better Educating the Workforce can Mitigate the Expected Loss in Productivity and Capital Returns”
Policy
Otmar Issing "Forward Guidance: A New Challenge for Central Banks"
Guest Commentary Thomas Wieser "How Will the Banking Union Change Economic Policy Making?"

 


Q2 2014

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Research 


Alfons J. Weichenrieder, Jochen Zimmer "Euro Membership and Fiscal Reaction Functions"
Reint Gropp, John Krainer, Elizabeth Laderman "Did Consumers Want Less Debt in the Wake of the 2008/09 Financial Crisis?"
Brigitte Haar "Investor Protection through Model Case Procedures – Public Interest Objectives vs. the Enforcement of Individual Rights"
Policy
Helmut Siekmann "Should Board Members of Municipal Savings Banks disclose their Remuneration?"
Guest Commentary Tarek Al-Wazir "The Suitability of the Future European Banking Regulation must Prove in Practice "

 


Q1 2014

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Research 


Dimitris Georgarakos, Michael Haliassos, Giacomo Pasini "Household Debt and Social Interactions"
Loriana Pelizzon "Global Financial Turmoil: Does Connectedness Matter?"
Kenza Benhima, Baptiste Massenot "Safety Traps"
Policy
Frankfurt Conference on Financial Market Policy 2013
Guest Commentary Douglas J. Elliott "Radical Regulatory Action Would Do More Harm Than Good"

Q4 2013

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Research 


Mirko Wiederholt "Rational Inattention and Business Cycles"
Charles Noussair, Stefan Trautmann, Gijs van de Kuilen, Nathanael Vellekoop "Risk Aversion and Religion"
Jens Gal "The European System of Financial Supervision – Stillborn or About to Grow Out of the Cradle?"
Policy
Jan Pieter Krahnen "The Bail-In Proposal: A Game Changer in Banking Markets"
Guest Commentary Richard Blundell "The Role of Empirical Research in Policy Design"

 


Q3 2013

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Research 


Joachim Weber, Benjamin Loos, Steffen Meyer, Andreas Hackethal "Individual Investors' Trading Motives and Security Selling Behavior"
Ignazio Angeloni, Ester Faia "Monetary Policy and Prudential Regulations with Bank Runs"
Helmut Siekmann "Legal Limits to Quantitative Easing"
Policy
Margit Vanberg "SAFE Summer Academy 2013 on 'International Financial Stability'"
Guest Commentary Peter Praet "Cooperation between the ECB and Academia"

 


Q2 2013

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Research 


Hans B. Christensen, Luzi Hail, Christian Leuz "Mandatory IFRS Reporting and Changes in Enforcement"
Julia Hirsch, Uwe Walz "Why do Contracts differ between Venture Capital Types?"
Marius Ascheberg, Robert A. Jarrow, Holger Kraft, Yildiray Yildirim "Government Policies, Residential Mortgage Defaults, and the Boom and Bust Cycles of Housing Prices"
Policy
Jan Pieter Krahnen "Deposit Insurance for Europe: Proposal for a Scheme with Limited European Liability"
Guest Commentary Otmar Issing "A New Paradigm for Monetary Policy"

 


Q1 2013

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Research 


Zeno Adams, Roland Füss, Reint Gropp "Spillover Effects among Financial Institutions: How important are Hedge Funds in a Crisis?"
Tobias Tröger "Organizational Choices of Banks and the Effective Supervision of Transnational Financial Institutions"
Andreas Hubener, Raimond Maurer,
Ralph Rogalla
"Optimal Portfolio Choice with Annuities and Life Insurance for Retired Couples"
Policy
Brigitte Haar "The Path towards Civil Liability of Credit Rating Agencies in Europe under CRA3"
Guest Commentary Florian Rentsch "The EU must make a Fresh Attempt for the Uniform Regulation of Financial Markets"