Financial Intermedation

Die Abteilung Financial Intermediation setzt sich mit der Rolle von Mittlerinstitutionen am Kapitalmarkt auseinander, insbesondere Banken und Versicherungen, aber auch wenig oder nicht regulierte Marktteilnehmer wie Hedgefonds und sogenannte „Schattenbanken“. Ausgewählte Forschungsschwerpunkte sind die realwirtschaftlichen Folgen der Bankenregulierung, das Spannungsverhältnis von Stabilität und Wettbewerb sowie die Konsequenzen der Digitalisierung für die Geschäftsmodelle von Finanzintermediären.


Publikationen

PubliziertTitelForscher/innenProgrammbereichKeywordsPubliziert
2020

Portfolio Similarity and Asset Liquidation in the Insurance Industry

forthcoming in Journal of Financial Economics
Mila Getmansky Sherman, Giulio Girardi, Stanislava Nikolova, Loriana Pelizzon, Kathleen Weiss Hanley Financial Intermediation, Systemic Risk Lab Interconnectedness, Asset Liquidation, Similarity, Financial Stability, Insurance Com- panies, SIFI2020
2020

When Brussels meets shadow banking- technical complexity, regulatory agency and the reconstruction of the shadow banking chain

Competition & Change
Vanessa Endrejat, Matthias Thiemann Financial Intermediation, Systemic Risk Lab 2020
2020

Politics of Banking in Europe: Global Banks and Domestic Institutional Legacies

E-International Relations
Elsa Massoc Financial Intermediation 2020
2019

The Effect of Academic Literature on Accounting Regulation: Evidence from Leases in Germany

Accounting History Review
Jan Friedrich Financial Intermediation 2019
2018

Foreign Investment, Sovereign Debt, and Human Rights

Sovereign Debt and Human Rights (Oxford University Press)
Matthias Goldmann Financial Intermediation Foreign direct investment, regulatory power, expropriation, socio-economic rights, linkages2018
2020

Private Authority in Tackling Cross-border Issues. The Hidden Path of Integrating European Energy Markets

Journal of European Integration
Burkard Eberlein, Sandra Eckert Financial Intermediation 2020
2019

Whatever it Takes: The Real Effects of Unconventional Monetary Policy

Review of Financial Studies
Viral Acharya, Tim Eisert, Christian Eufinger, Christian Hirsch Financial Intermediation, Data Center 2019
2018

Persistent Liquidity Shocks and Interbank Funding

Journal of Financial Stability
Marcel Bluhm Financial Intermediation, Systemic Risk Lab Financial fragility, Interbank market, Liquidity, Maturity, Network2018
2019

How Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina

Review of Finance
Claudia Lambert, Felix Noth, Ulrich Schüwer Financial Intermediation catastrophic events, bank regulation, capital ratios, natural experiment2019
2016

Drawing the Line: The Political Economy of Off-Balance Sheet-Financing

Jan Friedrich, Matthias Thiemann Financial Intermediation 2016
2018

Intended and Unintended Consequences of Government Credit Guarantee Programs

Finance and Investment: The European Case (Oxford University Press)
Vasso Ioannidou, Jose Liberti, Thomas Mosk, Jason Sturgess Financial Intermediation 2018
2019

Bank Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment

Review of Financial Studies
Reint Gropp, Thomas Mosk, Steven Ongena, Carlo Wix Financial Intermediation Bank capital ratios, Bank regulation, Credit supply2019
2018

Too Complex to Work – A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime

Journal of Financial Regulation
Tobias Tröger Financial Intermediation 2018
2017

Too-big-to-fail im Spannungsfeld von Wettbewerb und Regulierung

Festschrift für Theodor Baums zum siebzigsten Geburtstag (Mohr Siebeck)
Brigitte Haar Financial Intermediation 2017
2016

Systemic Risk and Financial Interconnectedness: Network Measures and the Impact of the Indirect Effect

Systemic Risk Tomography: Signals, Measurement and Transmission Channels (ISTE Press - Elsevier)
Monica Billio, Michele Costola, Roberto Panzica, Loriana Pelizzon Financial Intermediation, Systemic Risk Lab systemic measures, connectedness measures, financial network, financial institutions, hedge funds, loss measures, quantile regressions, CoVaR, global network measures, local network measures, loss prediction, Settore SECS-P/05 - Econometria 2016
2016

Sovereign Debt Sustainability as a Principle of Public International Law: An Incremental Approach to Sovereign Debt Restructuring

Yale Journal of International Law
Juan Pablo Bohoslavsky, Matthias Goldmann Financial Intermediation sovereign debt restructuring, international law, collective action clauses, debt sustainability, legal principles, holdout creditors, holdout litigation2016
2016

A Discourse Theoretical Approach to Sovereign Debt Restructuring: Towards a Democratic Financial Order

German Law Journal
Matthias Goldmann, Silvia Steininger Financial Intermediation democracy, finance, role of law, discourse theory, Habermas, sovereign debt, cleavages2016
2017

From Public International to International Public Law: Translating World Public Opinion into International Public Authority

European Journal of International Law
Matthias Goldmann, Ingo Venzke, Armin von Bogdandy Financial Intermediation international organizations, global governance, world public opinion, public authority, soft law2017
2017

International Investment Law and Financial Regulation: Towards a Deliberative Approach

International Investment Law and the Global Financial Architecture (Edward Elgar)
Matthias Goldmann Financial Intermediation international investment law, financial regulation, deliberation, monetary policy, sovereign debt2017
2018

Much Ado about Nothing? Macro-Prudential Ideas and the Post-Crisis Regulation of Shadow Banking

Kölner Zeitschrift für Soziologie und Sozialpsychologie
Jan Friedrich, Matthias Thiemann Financial Intermediation financial regulation, shadow banking, epistemic authority, private risk-management2018
2017

Capital Markets Union: The Need for Common Laws and Common Supervision

DIW-Vierteljahreshefte zur Wirtschaftsforschung
Jan Friedrich, Matthias Thiemann Financial Intermediation Capital Markets Union, clearing, regulatory competition, regulatory arbitrage, supervision2017
2018

Competition and Bank Stability

Journal of Financial Intermediation
Martin Götz Financial Intermediation Risk, Stability, Competition, Contestability, Entry, Lending2018
2017

Structural Reforms in Banking: The Role of Trading

Journal of Financial Regulation
Jan Pieter Krahnen, Felix Noth, Ulrich Schüwer Financial Intermediation banking, structural reforms, prohibition of proprietary trading, banking separation2017
2018

Rent-Seeking in Elite Networks

Journal of Political Economy
Rainer Haselmann, David Schoenherr, Vikrant Vig Financial Intermediation, Law and Finance -2018
2013

Identifying the Valuation Effects and Agency Costs of Corporate Diversification: Evidence from the Geographic Diversification of US Banks

Review of Financial Studies
Martin Götz, Luc Laeven, Ross Levine Financial Intermediation 2013
2017

Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis

Journal of Financial Economics
Florian Hett, Alexander Schmidt Financial Intermediation, Transparency Lab, Experiment Center Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline2017
2016

Banking Beyond Banks and Money. A Guide to Banking Services in the Twenty-First Century

Banking Beyond Banks and Money: A Guide to Banking Services in the Twenty-First Century (Springer)
Tomaso Aste, Loriana Pelizzon, Nicolas Perony, Paolo Tasca Financial Intermediation, Systemic Risk Lab 2016
2018

To Ring-Fence or Not, and How? Strategic Questions for Post-Crisis Banking Reform in Europe

forthcoming in European Banking Regulation (CH Beck)
Jens-Hinrich Binder Financial Intermediation 2018
2015

Komplexitätsbewältigung durch Verwaltungsverfahren?

Zeitschrift für das gesamte Handels- und Wirtschaftsrecht
Jens-Hinrich Binder Financial Intermediation 2015
2014

A Time Varying Performance Evaluation of Hedge Fund Strategies through Aggregation

Bankers, Markets and Investors
Financial Intermediation, Systemic Risk Lab Extra performances, Hedge funds, Markov switching models, Financial crises2014
2015

A Political Economy Perspective on Common Supervision in the Eurozone

Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Financial Intermediation 2015
2015

Bail-In Clauses

Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Laura Moretti Financial Intermediation 2015
2013

Deciphering the Libor and Euribor Spreads during the Subprime Crisis

North American Journal of Economics and Finance
Domenico Sartore Financial Intermediation, Systemic Risk Lab Subprime crisis, Collateral, Liquidity, Unconventional monetary policy2013
2016

How Special Are They? Targeting Systemic Risk by Regulating Shadow Banks

Reshaping Markets Economic Governance, the Global Financial Crisis and Liberal Utopia (Cambridge University Press)
Financial Intermediation shadow banking, regulatory arbitrage, prudential supervision2016
2015

Financial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act

Review of Financial Studies
Dirk Hackbarth, David Schoenherr Financial Intermediation financial distress, law and finance, shareholder recovery, stock returns2015
2016

Pro-Cyclical Capital Regulation and Lending

The Journal of Finance
Markus Behn, Paul Wachtel Financial Intermediation capital regulation, credit crunch, financial crisis, pro-cyclicality2016
2015

Vertragsrechtliche Fragen negativer Zinsen auf Einlagen

Neue Juristische Wochenschrift
Financial Intermediation 2015
2014

European Financial Regulation – Cross-Border Capital Flows, Systemic Risk and the European Banking Union as Reference Points for EU Financial Market Integration

The Oxford Handbook of Financial Regulation (Oxford University Press)
Financial Intermediation, Systemic Risk Lab Financial regulation, systemic risk, microprudential supervision, European Banking Authority, macroprudential supervision, European Systemic Risk Board, European Banking Union, Single Supervisory Mechanism2014
2016

Does the Geographic Expansion of Bank Assets Reduce Risk?

Journal of Financial Economics
Martin Götz, Luc Laeven, Ross Levine Financial Intermediation Banking, Bank Regulation, Financial Stability, Risk, Hedging, Business Cycles, Industrial Structuree2016
2014

Spillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach

Journal of Financial and Quantitative Analysis
Zeno Adams, Roland Füss, Reint Gropp Financial Intermediation, Systemic Risk Lab Risk spillovers, state-dependent sensitivity value-at-risk (SDSVaR), quantile regression, financial institutions, hedge funds2014
2014

Liquidity Coinsurance and Bank Capital

Journal of Money, Credit and Banking
Fabio Castiglionesi, Fabio Feriozzi, Gyöngyi Lóránth, Loriana Pelizzon Financial Intermediation, Systemic Risk Lab Bank Capital, Interbank Markets, Liquidity Coinsurance2014
2015

The Effects of a Low Interest Rate Environment on Life Insurers

The Geneva Papers on Risk and Insurance: Issues and Practice
Elia Berdin, Helmut Gründl Financial Intermediation Life Insurers, Interest Rate Guarantees, Risk Assessment, Solvency II2015
2014

The Single Supervisory Mechanism – Panacea or Quack Banking Regulation?

European Business Organization Law Review
Tobias Tröger Financial Intermediation prudential supervision, banking union, regulatory capture, political economy of bureaucracy, Single Supervisory Mechanism (SSM), European Central Bank (ECB), European Banking Authority (EBA)2014
2015

The Effects of Contingent Convertible (CoCo) Bonds on Insurers’ Capital Requirements under Solvency II

The Geneva Papers on Risk and Insurance: Issues and Practice
Helmut Gründl, Tobias Niedrig Financial Intermediation Contingent Convertible Capital, CoCo Bond, Basel III, Solvency II, Life Insurance, Interconnectedness2015
2015

Optimal Asset Allocation for Interconnected Life Insurers in the Low Interest Rate Environment Under Solvency Regulation

Journal of Insurance Issues
Tobias Niedrig Financial Intermediation Basel III, Solvency II, Life Insurance, Interest Rate Guarantees, Asset Allocation, Contagion, Interconnectedness2015
2015

Regulatory Influence on Market Conditions in the Banking Union

European Business Organization Law Review
Tobias Tröger Financial Intermediation banking union, macro-prudential supervision, real estate lending, bail-in, market discipline2015

Working Papers

TitelForscher/innenNr.ProgrammbereichJahrKeywordsPubliziert

Supranational Rules, National Discretion: Increasing Versus Inflating Regulatory Bank Capital?

Reint Gropp, Thomas Mosk, Steven Ongena, Ines Simac, Carlo Wix296 Financial Intermediation 2020 Nov 2020

The Terminator of Social Welfare? The Economic Consequences of Algorithmic Discrimination

Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz, Michael Kosfeld, Nicolas Winfried Pfeuffer287 Financial Intermediation, Experiment Center 2020 Algorithmic Discrimination, Artificial Intelligence, Game Theory, Economics, Batch Learning Sep 2020

Accounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges

Jannis Bischof, Christian Laux, Christian Leuz283 Financial Intermediation 2020Banks, Financial crisis, Financial stability, Disclosure, Loan loss accounting, Expected credit losses, Incurred loss model, Prudential filter, Fair value accounting Jul 2020

How did we do? The Impact of Relative Performance Feedback on Intergroup Hostilities

Kevin Bauer281 Financial Intermediation 2020social identity, relative performance feedback, discrimination, outgroup derogation Jun 2020

EU Agencies in Banking and Energy Between Institutional and Policy Centralisation

Sandra Eckert278 Financial Intermediation 2020agency, banking, centralisation, energy, fiduciary, electricity, policy Mai 2020

The Impact of Job Referrals on Employment Outcomes in Top Corporate Positions

Marie Lalanne, Lorenzo Maria Levati268 Financial Intermediation 2020Referrals, Job Match Quality, Social Networks, Board of Directors

Econometrics at Scale: Spark Up Big Data in Economics

Benjamin Bluhm, Jannic Cutura266 Financial Intermediation 2020Econometrics, Distributed Computing, Apache Spark Feb 2020

The Case for a Normatively Charged Approach to Regulating Shadow Banking - Multipolar Regulatory Dialogues as a Means to Detect Tail Risks and Preclude Regulatory Arbitrage

Matthias Thiemann, Tobias Tröger260 Financial Intermediation 2019shadow banking, regulatory arbitrage, principles-based regulation, credit funds, prudential supervision, non-bank financial intermediation Okt 2019

Spillovers of Funding Dry-ups

Iñaki Aldasoro, Florian Balke, Andreas Barth, Egemen Eren259 Financial Intermediation 2019 Sep 2019

What Drives Banks' Geographic Expansion? The Role of Locally Non-Diversifiable Risk

Reint Gropp, Felix Noth, Ulrich Schüwer246 Financial Intermediation 2019banking, geographic expansion, deregulation, locally non-diversiable risk, catastrophic risk

Debt Holder Monitoring and Implicit Guarantees: Did the BRRD Improve Market Discipline?

Jannic Cutura232 Financial Intermediation 2018 Sep 2018

Networks in Risk Spillovers: A Multivariate GARCH Perspective

Monica Billio, Massimiliano Caporin, Lorenzo Frattarolo, Loriana Pelizzon225 Financial Intermediation, Systemic Risk Lab 2018spatial GARCH; network; risk spillover; nancial spillover Aug 2018

Portfolio Similarity and Asset Liquidation in the Insurance Industry

Mila Getmansky Sherman, Giulio Girardi, Stanislava Nikolova, Loriana Pelizzon, Kathleen Weiss Hanley224 Financial Intermediation, Systemic Risk Lab 2018Interconnectedness, Asset Liquidation, Similarity, Financial Stability, Insurance Com- panies, SIFI Jul 2018

Reviving the Shadow Banking Chain in Europe: Regulatory Agency, Technical Complexity and the Dynamics of Co-Habitation

Vanessa Endrejat, Matthias Thiemann222 Financial Intermediation 2018 Jun 2018

All Economic Ideas are Equal, but Some are more Equal than Others: A Differentiated Perspective on Macroprudential Ideas and their Implementation

Edin Ibrocevic, Matthias Thiemann214 Financial Intermediation, Systemic Risk Lab 2018macroprudential regulation, ideational shift, systemic risk, topic modelling, central bank policy Jun 2018

Bargaining with a Bank

Thomas Mosk211 Financial Intermediation 2018Credit lines, Contract terms, Bargaining, Screening Jan 2018

The Long-Run Real Effects of Banking Crises: Firm-Level Investment Dynamics and the Role of Wage Rigidity

Carlo Wix189 Financial Intermediation 2017Financial Crises, Bank Lending, Real Effects, Firm Investment, Wage Rigidity, Labor Hoarding Nov 2017

Remarks on the German Regulation of Crowdfunding

Tobias Tröger184 Financial Intermediation 2017crowdinvesting, crowdfunding, fintech, financial stability, market infrastructure, investor protection Okt 2017

Why MREL Won't Help Much

Tobias Tröger180 Financial Intermediation 2017MREL, TLAC, G-SIB, bail-in, bank resolution Aug 2017

Too Complex to Work: A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime

Tobias Tröger179 Financial Intermediation 2017bail-in, private sector involvement, precautionary recapitalization, cross-border insolvency, market discipline Aug 2017

United in Diversity? The Relationship between Monetary Policy and Banking Supervision in the Banking Union

Matthias Goldmann178 Financial Intermediation, Macro Finance 2018Banking Union, Monetary Policy, Financial Stability, Single Supervisory Mechanism, Democratic Legitimacy Jan 2018

International Banking Conglomerates and the Transmission of Lending Shocks Across Borders

Reint Gropp, Deyan Radev175 Financial Intermediation 2017Commercial banks, global banks, wholesale shocks, solvency shocks, transmission, internal capital markets Aug 2017

Social Centralization, Bank Integration and the Transmission of Lending Shocks

Reint Gropp, Deyan Radev174 Financial Intermediation 2017Global banks, social centralization, bank integration, shocks, transmission Aug 2017

Liquidity Premia in CDS Markets

Christel Merlin Kuate Kamga, Christian Wilde173 Financial Intermediation, Financial Markets 2017CDS, liquidity Aug 2017

Systemic Risk for Financial Institutions of Major Petroleum-Based Economies: The Role of Oil

Massimiliano Caporin, Michele Costola, Shawkat Hammoudeh, Ahmed Khalifa172 Financial Intermediation, Financial Markets, Systemic Risk Lab 2017Systemic Risk, Risk Measurement, VaR, ΔCoVaR, Oil, Financial Institutions, Petroleum-based Economies Nov 2017

Natural Disaster and Bank Stability: Evidence from the U.S. Financial System

Felix Noth, Ulrich Schüwer167 Financial Intermediation, Systemic Risk Lab 2017natural disasters, bank stability, non-performing assets, bank performance Apr 2017

Bank Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment

Reint Gropp, Thomas Mosk, Steven Ongena, Carlo Wix156 Financial Intermediation 2016Bank capital ratios, Bank regulation, Credit supply Nov 2016

Mortgage Supply and the US Housing Boom: The Role of the Community Reinvestment Act

Vahid Saadi155 Financial Intermediation 2016The Community Reinvestment Act, Mortgage supply, House prices, Homeownership Nov 2016

Whatever it Takes: The Real Effects of Unconventional Monetary Policy

Viral Acharya, Tim Eisert, Christian Eufinger, Christian Hirsch152 Financial Intermediation, Data Center 2016Unconventional Monetary Policy, Real Effects, Zombie Lending Jan 2016

The Forward-Looking Disclosures of Corporate Managers: Theory and Evidence

Reint Gropp, Rasa Karapandza, Julian Opferkuch140 Financial Intermediation 2016Repeated Games; Asymmetric Information; Firms; Reputation Jan 2016

A Stochastic Forward-Looking Model to Assess the Profitability and Solvency of European Insurers

Elia Berdin, Christoffer Kok, Cosimo Pancaro137 Financial Intermediation 2016Financial Stability, Insurance, Interest Rate Risk, Stress Test Jan 2016

The Political Economy of Bank Bailouts

Markus Behn, Rainer Haselmann, Thomas Kick, Vikrant Vig133 Financial Intermediation, Law and Finance 2016political economy, bailouts, state-owned enterprises, elections Jan 2016

Rent-Seeking in Elite Networks

Rainer Haselmann, David Schoenherr, Vikrant Vig132 Financial Intermediation, Law and Finance 2016- Jan 2016

Ownership, Wealth, and Risk Taking: Evidence on Private Equity Fund Managers

Carsten Bienz, Karin Thorburn, Uwe Walz126 Financial Intermediation 2016Private equity, leveraged buyouts, incentives, coinvestment, risk taking, wealth Jan 2016

Insurance Activities and Systemic Risk

Elia Berdin, Matteo Sottocornola121 Financial Intermediation, Systemic Risk Lab 2015Systemic Risk, Insurance Activities, Systemically Important Financial Institutions Jan 2015

Interbank Funding as Insurance Mechanism for (Persistent) Liquidity Shocks

Marcel Bluhm117 Financial Intermediation 2015Financial fragility, interbank market, liquidity, maturity, network model Jan 2015

Regulatory Influence on Market Conditions in the Banking Union

Tobias Tröger109 Financial Intermediation 2015banking union, macro-prudential supervision, real estate lending, bail-in, market discipline Jan 2015

On the Impact of Leveraged Buyouts on Bank Systemic Risk

Marcel Grupp101 Financial Intermediation 2015Leveraged buyouts, syndicated loans, systemic risk Jan 2015

The Effects of Contingent Convertible (CoCo) Bonds on Insurers’ Capital Requirements under Solvency II

Helmut Gründl, Tobias Niedrig98 Financial Intermediation 2015Contingent Convertible Capital, CoCo Bond, Basel III, Solvency II, Life Insurance, Interconnectedness Jan 2015

Optimal Asset Allocation for Interconnected Life Insurers in the Low Interest Rate Environment Under Solvency Regulation

Tobias Niedrig97 Financial Intermediation 2015Basel III, Solvency II, Life Insurance, Interest Rate Guarantees, Asset Allocation, Contagion, Interconnectedness Jan 2015

Banking Union and the Governance of Credit Institutions - A Legal Perspective

96 Financial Intermediation 2015Banking Union, Single Supervisory Mechanism, Single Resolution Mechanism, Banking Regulation, Bank Corporate Governance Jan 2015

How Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina

94 Financial Intermediation 2015catastrophic events, bank regulation, capital ratios, natural experiment Jan 2015

Resolution Planning and Structural Bank Reform within the Banking Union

81 Financial Intermediation 2015Bank Resolution, Resolution Planning, Living Wills, Structural Bank Reform, Banking Union Jan 2015

The Limits of Model-Based Regulation

Markus Behn, Vikrant Vig75 Financial Intermediation 2014capital regulation, internal ratings, Basel regulation Jan 2014

Assessing Systemic Fragility – A Probabilistic Perspective

70 Financial Intermediation 2014Banking Stability, Financial Distress, Tail Risk, Contagion Jan 2014

How Special Are They? – Targeting Systemic Risk by Regulating Shadow Banking

68 Financial Intermediation 2014shadow banking, regulatory arbitrage, prudential supervision Jan 2014

The Effects of a Low Interest Rate Environment on Life Insurers

Elia Berdin, Helmut Gründl65 Financial Intermediation 2014Life Insurers, Interest Rate Guarantees, Risk Assessment, Solvency II Jan 2014

Financial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort Under an Incomplete Contract

Patrick Behr, Alejandro H. Drexler, Andre Guettler62 Financial Intermediation, Systemic Risk Lab 2014Loan officer, incentives, monitoring, screening, loan origination Jan 2014

Financial Regulation in the EU – Cross-Border Capital Flows, Systemic Risk and the European Banking Union as Reference Points for EU Financial Market Integration

57 Financial Intermediation, Systemic Risk Lab 2014Financial regulation, systemic risk, microprudential supervision, European Banking Authority, macroprudential supervision, European Systemic Risk Board, European Banking Union, Single Supervisory Mechanism Jan 2014

Measuring Ambiguity Aversion: A Systematic Experimental Approach

55 Financial Intermediation, Financial Markets, Transparency Lab, Experiment Center 2014ambiguity, valuation discount, experimental economics Jan 2014

Liquidity Coinsurance and Bank Capital

Fabio Castiglionesi, Fabio Feriozzi, Gyöngyi Lóránth, Loriana Pelizzon45 Financial Intermediation, Systemic Risk Lab 2014Bank Capital, Interbank Markets, Liquidity Coinsurance Jan 2014

Did Consumers Want Less Debt? Consumer Credit Demand versus Supply in the Wake of the 2008-2009 Financial Crisis

John Krainer, Elizabeth Laderman42 Financial Intermediation, Transparency Lab 2014credit supply, deleveraging, households, financial crisis Jan 2014

Banks’ Financial Distress, Lending Supply and Consumption Expenditure

H. Evren Damar, Adi Mordel39 Financial Intermediation 2014credit supply, banking, financial crisis, consumption expenditure, liquid assets, consumption smoothing Jan 2014

How do Insured Deposits Affect Bank Risk? Evidence from the 2008 Emergency Economic Stabilization Act

38 Financial Intermediation 2013financial crisis, deposit insurance, bank regulation Jan 2013

Systemic Risk and Sovereign Debt in the Euro Area

37 Financial Intermediation, Systemic Risk Lab 2013Sovereign debt, Sovereign default, Financial distress, Systemic risk, Contagion, Banking stability, Tail risk Jan 2013

Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis

Florian Hett, Alexander Schmidt36 Financial Intermediation, Transparency Lab, Experiment Center 2013Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline Jan 2013

The Single Supervisory Mechanism – Panacea or Quack Banking Regulation?

Tobias Tröger27 Financial Intermediation 2013prudential supervision, banking union, regulatory capture, political economy of bureaucracy, Single Supervisory Mechanism (SSM), European Central Bank (ECB), European Banking Authority (EBA) Jan 2013

Systemic Risk in the Financial Sector: What Can We Learn from Option Markets?

Alexander Schmidt25 Financial Intermediation, Systemic Risk Lab 2013Systemic risk, Value-at-risk, Equity options, Implied volatility Jan 2013

Who Invests in Home Equity to Exempt Wealth from Bankruptcy?

Stefano Corradin, Harry Huizinga21 Financial Intermediation, Transparency Lab 2013Homestead exemptions, Personal bankruptcy, Portfolio allocation, Home ownership Jan 2013

Spillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach

Zeno Adams, Roland Füss, Reint Gropp20 Financial Intermediation, Systemic Risk Lab 2013Risk spillovers, state-dependent sensitivity value-at-risk (SDSVaR), quantile regression, financial institutions, hedge funds Jan 2013

Hidden Gems and Borrowers with Dirty Little Secrets: Investment in Soft Information, Borrower Self-selection and Competition

Christian Gruendl, Andre Guettler19 Financial Intermediation, Transparency Lab 2013soft information, discretionary lending, relationship lending, competition Jan 2013

Policy Papers

JahrTitelForscher/innenProgrammbereichKeywordsJahr
Aug 2020

Beyond Moral Hazard Arguments: The Role of National Deposit Insurance Schemes for Member States’ Preferences on EDIS

Matthias Thiemann, Mario Tümmler Financial Intermediation Banking Union, Deposit Insurance, EDIS Aug 2020
Sep 2019

Completing Banking Union

Thomas Huertas Financial Intermediation Banking Union, EDIS, EDIC Sep 2019
Jul 2019

Deutsche Bank and its Strategy Change: What it Means for the German Financial System

Reinhard H. Schmidt Financial Intermediation German financial system, corporate governance, German banks Jul 2019
Jul 2019

On the Change of the German Financial System

Reinhard H. Schmidt Financial Intermediation German financial system, corporate governance, German banks Jul 2019
Jun 2019

Diversity in Finance:An Overview

Financial Intermediation diversity, finance, banking systems, financial systems Jun 2019
Jun 2019

Diversity in Finance: An Overview

Reinhard H. Schmidt Financial Intermediation diversity, finance, banking systems, financial systems Jun 2019
Mai 2019

An open banking platform for Germany - a future-oriented alternative to a merger of Deutsche Bank / Commerzbank

Volker Brühl, Jan Pieter Krahnen Financial Intermediation Open Banking Platform Germany, Banking Union, Merger, Deutsche Bank, Commerzbank Mai 2019

The Next SSM Term: Supervisory Challenges Ahead

Financial Intermediation SSM, Banking Union, ECB supervision

The Next SSM Term: Supervisory Challenges Ahead

Martin Götz, Tobias Tröger, Mark Wahrenburg Financial Intermediation SSM, Banking Union, ECB supervision

Evaluierung gesamt- und finanzwirtschaftlicher Effekte der Reformen europäischer Finanzmarktregulierung im deutschen Finanzsektor seit der Finanzkrise

Financial Intermediation Regulierung, Banken, Kreditinstitute

Eine Open Banking Plattform für Deutschland – eine zukunftsorientierte Alternative zu einer Fusion Deutsche Bank/Commerzbank

Financial Intermediation Open Banking Platform Germany, Bankenunion, Fusion, Deutsche Bank, Commerzbank

Eine Open Banking Plattform für Deutschland – eine zukunftsorientierte Alternative zu einer Fusion Deutsche Bank/Commerzbank

Volker Brühl, Jan Pieter Krahnen Financial Intermediation Open Banking Platform Germany, Bankenunion, Fusion, Deutsche Bank, Commerzbank
Jun 2018

How demanding and consistent is the 2018 stress test design in comparison to previous exercises?

Financial Intermediation stress test, European banks, Banking union Jun 2018
Jun 2018

How Demanding and Consistent is the 2018 Stress Test Design in Comparison to Previous Exercises?

Rainer Haselmann, Mark Wahrenburg Financial Intermediation stress test, European banks, Banking union, Jun 2018
Jun 2018

A New Governance Architecture for European Financial Markets? Towards a European Supervision of CCPs

Jan Friedrich, Matthias Thiemann Financial Intermediation Central Counterparties, European Supervisory Architecture, Capital Markets Union, regulatory arbitrage, EMIR, supervisory arbitrage, Brexit Jun 2018
Mai 2018

If you do it, do it right – The need for a Common European Supervisory Architecture for CCPs

Jan Friedrich, Christian Resch, Matthias Thiemann Financial Intermediation Central Counterparties, European Supervisory Architecture, Capital Markets Union, regulatory arbitrage, EMIR, supervisory arbitrage Mai 2018
Feb 2018

Passt das deutsche Dreisäulensystem in eine zunehmend harmonisierte Bankenstruktur für Europa?

Reinhard H. Schmidt Financial Intermediation Drei-Säulen-System, Bankensektor, Finanzkrise Feb 2018
Dez 2017

Five Years after the Liikanen Report: What Have We Learned?

Martin Götz, Jan Pieter Krahnen, Tobias Tröger Financial Intermediation Financial stability, banking separation, prohibition of proprietary trading, banking and treasury functions, bail-in, MREL, TLAC Dez 2017
Nov 2017

Provisioning Policies for Non-Performing Loans: How to Best Ensure a "Clean Balance Sheet"?

Mark Wahrenburg Financial Intermediation IFRS 9, provisioning rules, EU banks Nov 2017
Nov 2017

The Recalibration of the European System of Financial Supervision in Regard of the Insurance Sector: From Dreary to Dreamy or Vice Versa?

Jens Gal, Helmut Gründl Financial Intermediation, Household Finance European Insurance Union, European Supervisory Authorities, EIOPA, European Insurance and Occupational Pensions Authority, Insurance Supervision Nov 2017
Sep 2017

Undermined Market Discipline: The Role of Bank Rescues and Bailout Expectations

Florian Hett, Johannes Kasinger Financial Intermediation, Experiment Center bailout, market discipline, financial institutions, financial crisis, banks Sep 2017
Aug 2017

Corporate Governance of Banks – A German Alternative to the “Standard Model”

Hans-Helmut Kotz, Reinhard H. Schmidt Financial Intermediation corporate governance, German banks, German banking system Aug 2017
Aug 2017

Microfinance – Once and Today

Reinhard H. Schmidt Financial Intermediation Microfinance, German savings banks, German cooperative banks, Inclusive Finance Aug 2017
Jun 2017

How Not To Do Banking Law in the 21st Century

Tobias Tröger Financial Intermediation Banking Union, ECB, EGC, Landeskreditbank Baden-Württemberg, NCAs, SSM Jun 2017

Fines for Misconduct in the Banking Sector – What is the Situation in the EU?

Martin Götz, Tobias Tröger Financial Intermediation financial stability, banking supervision, banking regulation, bank sanctions, monetary penalties

Financial Resilience Revisited: Why Consistency in Regulation is now Paramount – Across Sectors and Regions, and Over Time

Franklin Allen, Jan Pieter Krahnen, Holger Lüthen, Hélène Rey Financial Intermediation, Financial Markets financial resilience, financial markets regulation, banking regulation
Feb 2017

Taking Bail-in Seriously - The Looming Risks for Banking Policy in the Rescue of Monte dei Paschi di Siena

Martin Götz, Jan Pieter Krahnen, Tobias Tröger Financial Intermediation BRRD, banking resolution, banking supervision, SRM, financial stability, systemic risk Feb 2017
Jan 2017

SME Funding Without Banks? On the Interplay of Banks and Markets

Günter Franke, Jan Pieter Krahnen Financial Intermediation, Financial Markets SME, funding, capital markets, lending instruments, banks Jan 2017
Nov 2016

Banks' Internal Rating Models - Time for a Change? The System of Floors as Proposed by the Basel Committee

Rainer Haselmann, Mark Wahrenburg Financial Intermediation Internal rating models, floors, banking regulation, BCBS Nov 2016
Apr 2016

Euro Area Shadow Banking Activities in a Low-Interest-Rate Environment: A Flow-of-Funds Perspective

Günter Beck, Hans-Helmut Kotz Financial Intermediation, Macro Finance Non-bank financial intermediation, shadow banking, financial stability, systemic risk, financial regulation, low interest rate environment Apr 2016
Apr 2016

Lost in Translation? ECB’s Monetary Impulses and Financial Intermediaries’ Responses

Günter Beck, Hans-Helmut Kotz, Natalia Zabelina Financial Intermediation, Macro Finance Non-bank financial intermediation, interest-rate channel, credit channel, risk-taking channel of monetary policy, market-based financial intermediation, monetary transmission mechanism, waterbed effect Apr 2016

Should the Marketing of Subordinated Debt be Restricted/Different in One Way or the Other? What to do in the Case of Mis-selling?

Martin Götz, Tobias Tröger Financial Intermediation Bail-in, BRRD, subordinated debt, EU market regulation
Nov 2016

Structural Reforms in Banking: The Role of Trading

Jan Pieter Krahnen, Felix Noth, Ulrich Schüwer Financial Intermediation, Financial Markets proprietary trading, banking separation proposals, bank risk Nov 2016
Dez 2015

The German Banking System: Characteristics and Challenges

Patrick Behr, Reinhard H. Schmidt Financial Intermediation banks, government, regulation Dez 2015
Nov 2015

Solvency II ante portas: Nutzen und Risiken der neuen Versicherungsregulierung

Helmut Gründl Financial Intermediation Versicherungen, Regulierung Nov 2015
Nov 2015

Solvency II at the Gates: Benefits and Risks of the New Insurance Regulation

Helmut Gründl Financial Intermediation Insurance, Regulation Nov 2015
Aug 2015

The Effects of Contingent Convertible (CoCo) Bonds on Insurers' Capital Requirements under Solvency II

Financial Intermediation Life insurance companies, Coco bonds, Solvency II Aug 2015
Sep 2015

Euro Area Macro-Financial Stability: A Flow-of-Funds Perspective

Financial Intermediation, Macro Finance Bank and non-bank financial intermediation, shadow banking, financial stability, systemic risk, financial regulation Sep 2015
Sep 2015

Did Emergency Liquidity Assistance (ELA) of the ECB Delay the Bankruptcy of Greek Banks?

Sascha Steffen Financial Intermediation, Macro Finance emergency liquidity assistance (ELA), economic and monetary union, banking supervision, Greece Sep 2015
Sep 2015

Waren die ELA-Notkredite der EZB für griechische Banken eine Konkursverschleppung?

Sascha Steffen Financial Intermediation, Macro Finance emergency liquidity assistance (ELA), Währungsunion, Bankenaufsicht, Griechenland Sep 2015
Apr 2014

Lessons from the Implementation of the Volcker Rule for Banking Structural Reform in the European Union

Douglas J. Elliott Financial Intermediation banking separation proposals, proprietary trading ban, Dodd-Frank Act Apr 2014
Apr 2014

How Important Are Hedge Funds in a Crisis?

Financial Intermediation systemic risk analysis, statistical risk measurement, spillover effects Apr 2014
Mai 2014

Frontiers of Sustainable Finance in Europe: The Social Impact Bond

Financial Intermediation social impact bonds, risk premia, incentives for investment Mai 2014
Jun 2014

Curtailing Capture through the European Banking Union: A Note of Caution

Cornelia Woll Financial Intermediation public-private relations, capture, collective action, social relations Jun 2014
Aug 2013

Taxes, Banks and Financial Stability

Financial Intermediation taxes, financial institutions, tax incidence, financial stability, tax revenues, bank incentives Aug 2013
Jun 2014

Stellungnahme zum Entwurf eines Gesetzes zur Absicherung stabiler und fairer Leistungen für Lebensversicherte

Financial Intermediation Lebensversicherungen, Solvency II, Bewertungsreserven, Niedrigzinsphase Jun 2014
Jan 2014

On the European Commission’s Proposal for a Structural Reform of Banking

Financial Intermediation proprietary trading, banking separation proposals, Liikanen Commission Jan 2014
Sep 2014

Effective Resolution of Banks: Problems and Solutions

Thomas von Lüpke Financial Intermediation Bank Recovery and Resolution Directive (BRRD), Single Resolution Mechanism (SRM), Bail-in Sep 2014
Okt 2014

Stellungnahme zum Entwurf eines Gesetzes zur Umsetzung der Richtlinie 2014/59/EU (BRRD-Umsetzungsgesetz)

Financial Intermediation Bankenabwicklung, Restrukturierung, Bail-in, SoFFin Okt 2014
Okt 2014

Making Sense of the Comprehensive Assessment

Viral Acharya, Sascha Steffen Financial Intermediation Asset Quality Review, Single Supervisy Mechanism, European Central Bankor Okt 2014
Nov 2014

Robustness, Validity, and Significance of the ECB’s Asset Quality Review and Stress Test Exercise

Sascha Steffen Financial Intermediation Stress Test, Comprehensive Assessment, Asset Quality Review, European Central Bank, European Banking Authority, Single Supervisory Mechanism Nov 2014
Nov 2014

Resolution Threats and Bank Discipline – What Europe Can Learn for the Single Resolution Mechanism from U.S. Experience

Magdalena Ignatowski, Josef Korte Financial Intermediation risk-taking, bank resolution regimes, USA, Europe Nov 2014
Nov 2014

Bail-In jetzt richtig umsetzen

Financial Intermediation total loss absorbing capacity (TLAC), nachrangiges Fremdkapital, too big to fail, bail-in Nov 2014
Nov 2014

Implementing Bail-In Properly

Financial Intermediation total loss absorbing capacity (TLAC), too big to fail, bail-in Nov 2014
Feb 2012

Schlechte Erfahrungen

Financial Intermediation Finanztransaktionssteuer, Bankenaufsicht Feb 2012
Apr 2013

Stellungnahme zum Gesetzentwurf der Bundesregierung: Finanzkonglomerate-Aufsichtsgesetz

Financial Intermediation Finanzkonglomerate; Eigenmittelanforderungen; Aufsichtsbehörde; BaFin; Bundesbank Apr 2013
Feb 2013

Kommentierung des “Entwurf eines Gesetzes zur Abschirmung von Risiken und zur Planung der Sanierung and Abwicklung von Kreditinstituten und Finanzgruppen”

Financial Intermediation Handelsgeschäft, Einlagengeschäft, Risiko Feb 2013
Feb 2013

Beteiligung der Versicherungsnehmer an den Bewertungsreserven in der Lebensversicherung

Financial Intermediation Lebensversicherungen, Garantiezins, Bewertungsreserven Feb 2013
Jun 2013

Die Auswirkungen von Regulierung auf Bankverhalten und Wettbewerb

Theodor Weimer Financial Intermediation Bail-in Anleihen, Banken, Regulierung, Liikanen-Kommission Jun 2013
Mai 2013

Own Risk and Solvency Assessment Within the Solvency II Framework and its Interplay with the Quantitative Solvency Capital Requirements

Jens Gal Financial Intermediation Insurance, Solvency II, Own Risk and Solvency Assessment Mai 2013
Aug 2013

Savings Banks and Cooperative Banks in Europe

Dilek Bülbül Financial Intermediation national systems of local banks, bank competition, performance indicators Aug 2013
Sep 2013

Gesprächsreihe zu Strukturreformen im europäischen Bankensektor: Wiederherstellung privater Haftung und die zukünftige Rolle der Aufsicht

Elke König Financial Intermediation Bail-in Anleihen, Banken, Aufsicht, Liikanen-Kommission Sep 2013
Okt 2013

Rettung durch Regulierung? Eckpunkte des Liikanen-Berichts

Financial Intermediation Liikanen-Kommission, Bail-in, Trennbanken, Bankenunion Okt 2013
Sep 2013

Der einheitliche Abwicklungsmechanismus – Europäisches Allheilmittel oder weiße Salbe?

Financial Intermediation Bankenunion, SRM, Abwicklungsinstrumente, Bail-in Sep 2013
Okt 2013

Rescue by Regulation? Key Points of the Liikanen Report

Financial Intermediation Liikanen Commission, Bail-in, Banking Separation, Banking Union Okt 2013
Dez 2013

Designing the Funding Side of the Single Resolution Mechanism (SRM): A Proposal for a Layered Scheme with Limited joint Liability

Financial Intermediation Banking Union, Single Resolution Mechanism Dez 2013
Dez 2013

A Big Bang for Banking in Europe

Financial Intermediation comprehensive assessment, banking supervision, euro area Dez 2013
Jan 2014

Securities Transaction Tax in France: Impact on Market Quality and Inter-Market Price Coordination

Martin Haferkorn, Kai Zimmermann Financial Intermediation financial transaction tax, market fragmentation, speculative trading, market quality Jan 2014
Dez 2013

Finanzmärkte: Mut zu radikaler Ordnungspolitik

Financial Intermediation Finanzkrise, Bankenunion, Regulierung, Ordnungspolitik Dez 2013
Feb 2014

Surveillance of peer to peer payment systems and peer to peer lending platforms

Financial Intermediation financial innovation, peer to peer payment systems, Bitcoin, regulation Feb 2014
Feb 2012

Recommendations by the Issing Commission – Memo for the G-20 November 2011 Summit in Cannes

Otmar Issing, Klaus Regling, William White Financial Intermediation shadow banking, systemic risk analysis, regulatory arbitrage Feb 2012
Feb 2012

Stellungnahme zum Entwurf eines Zweiten Gesetzes zur Umsetzung eines Maßnahmenpakets zur Stabilisierung des Finanzmarktes

Financial Intermediation Finanzmarktrecht, BaFin, FMSA Feb 2012
Mai 2011

Ein Plädoyer für Banken-Vielfalt

Financial Intermediation Drei-Säulen-System, Bankensektor, Finanzkrise Mai 2011
Feb 2010

Ein staatliches Hospital für kranke Banken

Financial Intermediation Systemisches Risiko, Bankenhospital Feb 2010
Sep 2011

Das neue System der Europäischen Finanzmarktaufsicht

Financial Intermediation Regulierung, Finanzaufsicht, Systemrisiken Sep 2011

On a Fundamental Reorganisation of the Landesbanks and Savings Banks Sector in Germany

Heinz Hilgert, Günther Merl Financial Intermediation Landesbanks and savings banks sector; public law financial system
Feb 2011

Streitschrift für eine grundlegende Neuordnung des Sparkassen- und Landesbankensektors in Deutschland

Heinz Hilgert, Günther Merl Financial Intermediation Sparkassen- und Landesbankensektor, öffentlich rechtlicher Finanzsektor Feb 2011
Okt 2010

Basel III: Unvollendet, aber nicht allein

Hermann Remsperger Financial Intermediation Basel III, Eigenkapital, Finanzkrise, Insolvenzordnung Okt 2010
Nov 2010

Recommendations by the Issing Commission - Memo for the G-20 Summit in Seoul

Otmar Issing, Klaus Regling, William White Financial Intermediation Basel III, systemic risk, liquidity support Nov 2010
Okt 2010

Stellungnahme zum "Restrukturierungsgesetz"

Financial Intermediation Systemisches Risiko, Restruktuierung, Abwicklung Okt 2010
Aug 2010

Die Finanzmarktaufsicht in der Krise

Financial Intermediation Finanzmarktaufsicht, Ratingagenturen, Abwicklung Aug 2010
Jul 2010

Ursachen, Auswirkungen und Lehren der Finanzkrise: Eine systematische Bestandsaufnahme

Financial Intermediation Systemisches Risiko, Finanzaufsicht Jul 2010
Jun 2010

Criteria for a Workable Approach Towards Bank Levies and Bank Restructuring

Otmar Issing Financial Intermediation systemic risk, bank resolution Jun 2010
Apr 2009

Die Rolle von Anreizen für die Zukunfts der Kreditverbriefung

Financial Intermediation Kreditverbriefung, Agency Theorie, Vergütungssysteme Apr 2009
Feb 2010

Rescue Strategy Without Moral Hazard – An Attempt to Provide a Master Plan for Avoiding Banking Crises

Financial Intermediation systemic risk, banking hospital Feb 2010
Feb 2010

Rettungsstrategie ohne Moral Hazard – Versuch eines Gesamtkonzepts zur Bankkrisenvermeidung

Financial Intermediation Systemisches Risiko, Bankenhospital Feb 2010
Nov 2009

Defining and Measuring Systemic Risk

Stefan Gerlach Financial Intermediation systemic risk, statistical risk measurement Nov 2009
Okt 2009

Stabilisierung der WestLB AG durch Garantien des Landes NRW

Financial Intermediation Landesbanken Okt 2009
Okt 2009

Die Neuordnung der Finanzmarktaufsicht

Financial Intermediation Finanzmärkte, Rechtsordnung Okt 2009
Apr 2009

Die Schaffung von Einrichtungen der Finanzaufsicht auf EU-Ebene

Financial Intermediation Gemeinschaftsagenturen, Finanzmarktaufsicht Apr 2009
Dez 2011

Kluge Finanzarchitektur zur Begrenzung des systemischen Risikos

Financial Intermediation systemisches Risiko, too-big-to-fail, Regulierung Dez 2011
Nov 2011

Stellungnahme zum Antrag der SPD-Fraktion auf Einführung einer Finanztransaktionssteuer in Europa

Financial Intermediation Finanztransaktionssteuer, Finanzinnovationen, Finanzspekulation Nov 2011
Nov 2011

Long-Term Guarantees and the Countercyclical Premium Under Solvency II

Hato Schmeiser Financial Intermediation insurance supervision, capital requirements, Solvency II Nov 2011
Jul 2011

Ratingagenturen entmachten - aber wie?

Financial Intermediation Ratingagenturen, Marktmacht Jul 2011
Jul 2011

"Politiker wollen die Wahrheit nicht hören"

Financial Intermediation Ratingagenturen, Schuldenkrise Jul 2011
Jul 2011

The Bail-In Puzzle

Financial Intermediation debt restructuring, financial stability, bank bonds Jul 2011
Apr 2011

Die Bankenabgabe in Deutschland

Financial Intermediation Bankenabgabe, Systemisches Risiko, Restrukturierungsgesetz Apr 2011
Dez 2012

Europataugliche Einlagensicherung: Vorschlag für eine dreistufige Einlagensicherung mit begrenzter europäischer Haftung

Financial Intermediation Bankenunion, Einlagensicherung, Bankinsolvenzen Dez 2012
Nov 2012

Comment on the European Parliament Draft Report on the Proposal for a Recovery and Resolution Directive

Financial Intermediation bail-in bonds, bank resolution, Liikanen Report Nov 2012
Apr 2013

Zukunft der Universalbanken

Michael Kemmer Financial Intermediation Trennbanken, Restrukturierung, Abwicklung, Liikanen-Kommission Apr 2013
Apr 2013

Deposit Insurance Suitable for Europe: Proposal for a Three-Stage Deposit Guarantee Scheme with Limited European Liability

Financial Intermediation banking union; deposit insurance; bank risk Apr 2013
Feb 2013

Civil Liability of Credit Rating Agencies after CRA 3 – Regulatory All-or-Nothing Approaches Between Immunity and Over-Deterrence

Financial Intermediation Rating Agencies, regulation, contractual liability, CRA3 Feb 2013
Nov 2012

Stellungnahme zum Entwurf eines Dritten Gesetzes zur Umsetzung eines Maßnahmenpakets zur Stabilisierung des Finanzmarktes

Financial Intermediation Finanzmarktstabilisierungsgesetz, Restrukturierungsfond, systemisches Risiko Nov 2012
Okt 2012

Marktkräfte und Finanzstabilität: Desiderate und Anreizwirkungen eines institutionellen Rahmens für Bankenrestrukturierung

Financial Intermediation Ankeranleihen, Bail-in, systemisches Risiko, Bankenrestrukturierung Okt 2012
Sep 2012

Neuausrichtung des OTC-Derivate-Marktes als Chance begreifen

Thorsten Gommel Financial Intermediation EMIR, OTC-Derivate, CDS Sep 2012
Jul 2012

Aktuelle Finanzmarktpolitik: Wo bleibt die Nachhaltigkeit?

Financial Intermediation Finanzkrise, Finanzmarktpolitik, Regulierung, Nachhaltigkeit Jul 2012
Apr 2012

"The Economic Rationale for Financial Regulation” Reconsidered

Richard Herring Financial Intermediation regulation, supervision, systemic risk Apr 2012
Sep 2011

Risiko muss wieder kosten

Financial Intermediation Anleihemärkte, systemisches Risiko, Bankeninsolvenz Sep 2011

Aktuelle Forschungsprojekte

KategorieProjektForscher/innenProjektdauerKeywordsProjekt IDPublication Count
Financial Intermediation

The Capital Purchase Program and Board Appointment

Christian Mücke, Loriana Pelizzon, Vincenzo Pezone, Anjan Thakor2020Bail Out, Board Appointments, TARP, Capital Ratio1231041
Financial Intermediation

Crises, Anti-Finance Opinions and Populisms in Europe

Elsa Massoc, Tobias Tröger2020Crises, Public opinion, Finance, Policymaking, Populism1231031
Financial Intermediation, Experiment Center

Digitalization of the Financial System

Kevin Bauer, Oliver Hinz2020Digital economics; Artificial intelligence; Human machine interaction; Algorithmic Unfairness; Hybrid human-machine behavior; Algorithms; Machine Learning, Decision Making;1231011
Financial Intermediation

Banking on States – The Divergent European Trajectories of Finance after the Crisis

Elsa Massoc2019Banks, states, regulation, post-crisis, institutions1231021
Financial Intermediation

Bank Competition for Wholesale Funding: Evidence from Corporate Deposits

Iñaki Aldasoro, Florian Balke, Andreas Barth, Egemen Eren2019global banks, dollar funding, US money market fund reform, corporate deposits211331
Financial Intermediation

Asset Concentration Risk and Insurance Solvency Regulation

Helmut Gründl, Fabian Regele2019Asset Concentration Risk, Name Concentration Risk, Sector Concentration Risk, Systematic Risk, Idiosyncratic Risk, Insurance Regulation, Solvency II, Global Insurance Capital Standards (ICS)211341
Financial Intermediation

Political Economy of Financial Regulation

Rainer Haselmann, Shikhar Singla, Vikrant Vig2019political economy; Basel regulation; regulatory capture; international standard setting;211351
Financial Intermediation

Networks and Corporate Governance

Marie Lalanne, Eirini Tatsi2019Social Networks, Job Referrals, Gender, Boards of Directors, Executives, Corporate Governance212311
Financial Intermediation

How do Startups Grow?

Zhuoer Qiu, Bernd Skiera, Simone Wies2019Startup Growth, New Ventures, Organizational Competences, Marketing Competence, Growth Pattern, Venture Capital, Human Capital, Startup Performance, Startup Survival212331
Financial Intermediation

The State of the Union: The Politics of Integration in Banking and Energy

Burkard Eberlein, Sandra Eckert2019banking union, corporate power, energy union, European integration, governance, private authority, prudential regulation, regulatory governance, security of supply211361
Financial Intermediation

Financial Regulation: What the Finance Industry Wants and How It Gets It

Renée Adams, Thomas Mosk2019219001
Financial Intermediation

Arbitraging Regulatory Bank Capital: Evidence from a Quasi-Natural Experiment

Reint Gropp, Thomas Mosk, Steven Ongena, Ines Simac, Carlo Wix2019219001
Financial Intermediation, Law and Finance

Foundations of Law and Finance

Rainer Haselmann, Casimiro Antonio Nigro, Tobias Tröger2018212911
Financial Intermediation

The Rise of Promotional / Development Banks in Contemporary Europe: Potentials and Pitfalls

Daniel Mertens, Matthias Thiemann2018market failure, industrial policy, promotional banks211321
Financial Intermediation

The Regulation of Loan Loss Provisioning and Banks' Real Activities

Jannis Bischof2018Financial Reporting, Financial Stability, Financial Institutions, Loan Loss Provisions, Incurred Loss Model, Expected Loss Model, Credit Risk, IAS 39, IFRS 9211301
Financial Intermediation

The Transformation of Public Interests in Sovereign Debt Disputes – An Empirical Analysis

Matthias Goldmann, Grygoriy Pustovit, Seo Young Shin2018Sovereign debt, holdout litigation, empirical legal studies, comparative law, public interest211381
Financial Intermediation

Financing Innovation in Europe

David Heller, Jan Krzyzanowski, Uwe Walz2017212801
Financial Intermediation

Evaluierung gesamt- und finanzwirtschaftlicher Effekte der Reformen europäischer Finanzmarktregulierung im deutschen Finanzsektor seit der Finanzkrise

Rainer Haselmann, Jan Pieter Krahnen, Tobias Tröger, Mark Wahrenburg2017211831
Financial Intermediation

Regulatory Competition and the Increasing Fragility of CCPs

Jan Friedrich, Christian Hirsch, Andreas Nölke, Matthias Thiemann2017CCPs, Competition, Regulatory Arbitrage, Regulatory Forebearance, Financial Stability211281
Financial Intermediation

Systemically Relevant Business Activities of Insurance Companies

Helmut Gründl, Christian Kubitza, Fabian Regele2017Systemic Risk, Conditional Shortfall Probability, ΔCoVaR, Marginal Expected Shortfall, Risk Management, Insurance Activities, Financial Stability211271
Financial Intermediation

Local Spillover Effects and Corporate Investment

Yangming Bao, Martin Götz2017corporate investment, peer effects, local spillover, urban agglomeration212241
Financial Intermediation, Systemic Risk Lab

The Impact of Quantitative Easing on Stock and CDS Prices of European Insurance Companies

Mario Bellia, Nicola Mano, Loriana Pelizzon, Matteo Sottocornola2017225821
Financial Intermediation

Criminal Compliance and Financial Institutions: Conformity Effects and Cost Effectiveness

Christoph Burchard, Ercan Cömert, Horst Entorf, Dennis Gram2017Financial Crimes | Criminal Compliance |Financial Institutions | Differences-in-Differences | Treatment Effect Heterogeneity212221
Financial Intermediation

A New Approach to Analyze the Retail Banking Market and its Development

Gabriela Alves Werb, Daniel Blaseg, Elham Maleki, Daniel M. Ringel, Bernd Skiera, 2017Financial Markets, Fintech, Market Definition, Market Analysis, Market Structure, Market Evolution, Competition, Market Visualization211291
Financial Intermediation

Benefits of Procurement Auctions: Competitive Pressure vs. Selection of Efficient Suppliers

Rafael Lalive, Armin Schmutzler, Christine Zulehner2016210041
Financial Intermediation

Analysis of Mergers in First-Price Auctions

Klaus Gugler, Michael Weichselbaumer, Christine Zulehner2016210041
Financial Intermediation, Experiment Center

Measuring Time Inconsistency by Using Bank Account Data

Andrej Gill, Florian Hett2016financial mistakes, transaction data, household finance, time-inconsistency, present bias, time preferences216401
Financial Intermediation

On the Impact of Government Credit Guarantees Programs on Firms' Access to Credit and Performance during the Financial Crisis

Vasso Ioannidou, Jose Liberti, Thomas Mosk, Hélène Rey, Jason Sturgess2016Access to credit, government guarantees219231
Financial Intermediation, Data Center

Whatever it Takes: The Real Effects of Unconventional Monetary Policy

Viral Acharya, Tim Eisert, Christian Eufinger, Christian Hirsch2016223901
Financial Intermediation, Macro Finance

Stability through Deliberation: Finance and Public Law

Matthias Goldmann, Grygoriy Pustovit2016211931
Financial Intermediation

Effect of Capital Regulation on Bank Investment Strategies and Systemic Risk

Rainer Haselmann, Katharina Petricevic, Deyan Radev, Vikrant Vig2016Capital regulation, Market Risk, Systemic Risk, Bank Investment Strategies, Basel II.5211211
Financial Intermediation

Crisis, Competition and Firms’ Workforce: Evidence from Procurement Auctions

Klaus Gugler, Michael Weichselbaumer, Christine Zulehner2016210041
Financial Intermediation

Household Liquidity Risk Management and Insurance Companies’ Investment Behavior

Yangming Bao, Irina Gemmo, Helmut Gründl, Martin Götz2016Demographic Change, Emergency Fund Hypothesis, Interest Rate Hypothesis, Life Insurance, Liquidity Risk Management, Surrender211371
Financial Intermediation, Policy Center

Bail-In Tracker

Ivelina Dimitrova, Martin Götz, Dominic Hirschbühl, Theresa Kreft, Tobias Tröger, Gerrit Tönningsen2016211821
Financial Intermediation, Financial Markets

The Impact of Introducing Intraday Auctions on LSE

Peter Gomber, Satchit Sagade, Stefan Scharnowski, Erik Theissen, Christian Westheide2016216201
Financial Intermediation, Household Finance

Demographic Changes, Optimal Design of Life Insurance Contracts and Household Welfare

Helmut Gründl, Martin Götz, Holger Kraft, Raimond Maurer2016216601
Financial Intermediation, Systemic Risk Lab

Network Banks Exposures and Variance Spillovers in the Euro Area

Monica Billio, Massimiliano Caporin, Lorenzo Frattarolo, Aleksey Kolokolov, Loriana Pelizzon, Zorka Simon2016216101
Financial Intermediation, Household Finance

Social Networks and Informal Lines of Credit

Olga Goldfayn, Nathanael Vellekoop2016Personality; Household consumption and Savings 216501
Financial Intermediation

The Effect of Regulation on Banks’ Market Structure

Rainer Haselmann, Nora Marija Laurinaityte, Katharina Petricevic, Vikrant Vig, Christine Zulehner2016bank regulation, model based regulation, bank competition 216001
Financial Intermediation, Experiment Center

Financial Interactions in the Presence of Ambiguity

Wenhui Li, Peter Ockenfels, Christian Wilde2016216501
Financial Intermediation

Quantification of the Effect of Regulation on Firms’ Demand for Credits and Banks’ Market Power

Rainer Haselmann, Vikrant Vig, Shiwei Yu, Christine Zulehner2016bank regulation, model based regulation, bank competition, structural estimation 216001
Financial Intermediation, Law and Finance, Financial Markets, Macro Finance, Experiment Center

Capital Requirements and Financial Stability: Experimental Evidence

Paul Gortner, Baptiste Massenot2016216501
Financial Intermediation, Experiment Center

Banking Structure and Dynamics of Small and Medium Sized Enterprises

Douglas Cumming, Christian Eufinger, Andrej Gill, David Heller, Jan Krzyzanowski, Uwe Walz2016216401
Financial Intermediation, Systemic Risk Lab

A Genealogy of Systemic Risk Network Measures adopted by Regulators

Edin Ibrocevic, Holger Lüthen, Loriana Pelizzon, Sviataslau Sivagrakau, Matthias Thiemann2016216101
Financial Intermediation, Financial Markets, Systemic Risk Lab, Experiment Center

T3: Complex Markets: Regulation and Incentives in Secondary Market Design

Alejandro Bernales, Monika Gehde-Trapp, Peter Gomber, Olga Klein, Jan Pieter Krahnen, Peter Ockenfels, Richard Payne, Loriana Pelizzon, Francesco Poli, Ryan Riordan, Satchit Sagade, Marti Subrahmanyam, Erik Theissen, Jun Uno, Christian Westheide, Christian Wilde2016216201
Financial Intermediation, Financial Markets

T5: The Dynamics of Finance, Competition and Information Production

Alejandro Bernales, Douglas Cumming, Ulrich Doraszelski, Christian Eufinger, Jasmin Gider, Andrej Gill, Peter Gomber, Satchit Sagade, Stefan Scharnowski, Alexander Stomper, Erik Theissen, Uwe Walz, Christian Westheide, Christine Zulehner2016216401
Financial Intermediation, Household Finance, Financial Markets

T7: Liquidity and Longevity Risk Management of Households and Life Insurance Companies in an Aging Society

Yangming Bao, Jens Gal, Irina Gemmo, Helmut Gründl, Martin Götz, Brigitte Haar, Vanya Horneff, Holger Kraft, Raimond Maurer2016demographic change, household finance, liquidity, risk, insurance, welfare, life cycle216601
Financial Intermediation, Financial Markets, Systemic Risk Lab

T2: Systemic Risk and Network Connectivity

Monica Billio, Massimiliano Caporin, Giuliano Curatola, Aleksey Kolokolov, Christoph Meinerding, Roberto Panzica, Loriana Pelizzon, Christian Schlag, Zorka Simon, Sviataslau Sivagrakau, Matthias Thiemann, Tatiana von Landesberger2016216101
Financial Intermediation, Law and Finance, Systemic Risk Lab

T1: Regulation, Competition and Financial Stability

Brigitte Haar, Rainer Haselmann, Casimiro Antonio Nigro, Katharina Petricevic, Katharina Pistor, Vikrant Vig, Shiwei Yu, Christine Zulehner2016216001
Financial Intermediation, Law and Finance, Household Finance, Financial Markets, Macro Finance, Experiment Center

T6: Social Finance – Finance and the Consumer

Sascha Baghestanian, Adrian Buss, Giuliano Curatola, Ilya Dergunov, Alessandro Gioffré, Paul Gortner, Holger Kraft, Christoph Kühn, Wenhui Li, Baptiste Massenot, Peter Ockenfels, Yuri Pettinicchi, Raman Uppal, Nathanael Vellekoop, Grigory Vilkov, Christian Wilde, Joël van der Weele2016216501
Financial Intermediation

The Modern Tontine: An Innovative Instrument for Longevity Provision in an Ageing Society

Helmut Gründl, Jan-Hendrik Weinert2015211921
Financial Intermediation

Shadow Banking with an Implicit Government Put

Matthias Thiemann2015211811
Financial Intermediation

Real Effects of a Bank Liquidity Shock on Bank Lending Decisions and Corporate Investments

Rainer Haselmann, Melissa Schultheis, Cornelius Veith2015211901
Financial Intermediation

Venture Boards - Empirical Evidence from Venture Capital-backed Start-Ups in the U.S.

2015Corporate Governance, Entrepreneurial Finance, Board Structure112291
Financial Intermediation, Systemic Risk Lab

Interconnectedness of Insurance Companies

Loriana Pelizzon2014Regulation, Systemic risk, portfolio exposures, networks, Insurance companies121271
Financial Intermediation

The Adaptation of Off-Balance Sheet Financing Techniques in Leasing after the Financial Crisis

Matthias Thiemann2014111381
Financial Intermediation

The Sovereign-Bank Loop: Contagion Between Sovereign and Bank Credit Markets

Holger Kraft, 2014Contagion, Sovereign Debt Crisis, CDS, Panel VAR, Sign Restrictions111371
Financial Intermediation

Bank Diversification and Risk Management

2014Geographic Corporate Diversification, Bank Risk, Banking, Economies of scope, Diversification Benefits111311
Financial Intermediation

Redlining in the US Housing Market and the Early Stage of the Housing Bubble

Vahid Saadi, Vahid Saadi2014Community Reinvestment Act, Mortgage supply, Housing boom, Financial crisis111401
Financial Intermediation, Transparency Lab

Capital Requirements and Bank Lending

2014banking, bank capital, capital regulation111291
Financial Intermediation

The Impact of Interest Rate and Mortality Risks on the Solvency Situation of Life Insurance Companies

Helmut Gründl2014Life Insurers, Interest Rate Guarantees, Risk Assessment, Solvency II, Effects of Monetary Policy211801
Financial Intermediation

Public Soft Information

2014transparency, soft information, financial markets, financial institutions111331
Financial Intermediation

Single Resolution Mechanism

2014Single Resolution Mechanism (SRM), Bank Reorganization, Bail in, Single Resolution Fund, Backstops, Banking Union111351
Financial Intermediation

Bargaining with a Bank

Thomas Mosk2014Bargaining, Financial Contracting111411
Financial Intermediation

Banking Market Structure and Catastrophic Risk

Ulrich Schüwer2014diversification benefits, banking market structure, banking liberalization, catastrophic risk111321
Financial Intermediation, Systemic Risk Lab

The Internal Organization of Banks and the Transmission of Lending Shocks across Borders

2013banking, contagion, liquidity shocks, solvency shocks, internal bank organization111211
Financial Intermediation, Systemic Risk Lab

Basel III and Solvency II - Risks and Side-Effects from their Interplay

2013111261
Financial Intermediation, Systemic Risk Lab

Consequences of Adverse Shocks on Bank Behavior

2013natural disasters, non-performing assets, bank failures111231
Financial Intermediation, Transparency Lab, Experiment Center

Experimental Studies on Ambiguity and Ambiguity Aversion

Jan Pieter Krahnen2013ambiguity, ambiguity aversion, valuation discount, experimental economics111251
Financial Intermediation, Systemic Risk Lab

On the Determinants of Interbank Networks

Jan Pieter Krahnen2013Network formation, Financial Fragility, Panel Data Regressions111271
Financial Intermediation, Systemic Risk Lab, Transparency Lab, Experiment Center

Corporate Governance in Banks

Marie Lalanne, Uwe Walz2013Corporate Governance, Financial Institutions, Management Compensation, Moral Hazard, Ownership Structure, Risk Shifting112211
Financial Intermediation, Systemic Risk Lab

Leverage in Private Equity: A Potential Source of Systemic Risk?

2013Competition, Peers, LBOs, Product Market, Restructuring112221
Financial Intermediation, Systemic Risk Lab

A New Approach to Measuring Systemic Risk: Option-implied Tail Risk Dependencies in the Financial Sector

2012Systemic risk, Value-at-risk, Equity options, Implied volatility111221
Financial Intermediation, Systemic Risk Lab

CDS Markets: Liquidity, Default Risk, and Correlation Risk

Christel Merlin Kuate Kamga, Christian Wilde2012CDS, default risk, liquidity premia, financial crisis111241

Aktuelles Forschungsteam

ForscherPosition
Bauer, Kevin Junior Researcher
Bischof, Jannis External Researcher, SAFE Fellow
Eckert, Sandra External Researcher
Gill, Andrej External Researcher
Goldmann, Matthias Junior Researcher
Götz, Martin External Researcher, SAFE Fellow
Gründl, Helmut External Researcher, SAFE Fellow
Haselmann, Rainer Senior Researcher, SAFE Fellow
Hillert, Alexander External Researcher
Kraft, Holger External Researcher, SAFE Fellow
Krahnen, Jan Pieter Senior Researcher
Massoc, Elsa External Researcher
Mertens, Daniel External Researcher
Pezone, Vincenzo Junior Researcher
Schüwer, Ulrich External Researcher, Research Affiliate
Skiera, Bernd External Researcher, SAFE Fellow
Thiemann, Matthias External Researcher
Tröger, Tobias Senior Researcher
Vig, Vikrant External Researcher, SAFE Fellow
Walz, Uwe Senior Researcher