SAFE Publications

Author/sTitleProgram AreaTypePublishedKeywords
Ruggero Jappelli, Loriana PelizzonPrice and Liquidity Discovery in European Sovereign Bonds and Futures
SAFE Working Paper No. 350
Financial Markets SAFE Working Paper2022Fixed Income, Limits to Arbitrage, Market Liquidity
Iñaki Aldasoro, Florian Balke, Andreas Barth, Egemen ErenSpillovers of Funding Dry-ups
Journal of International Economics
Financial Intermediation Published Paper2022Funding dry-ups Spillovers Money market funds Corporate deposits Dollar funding Banks
Dennis Gram, Pantelis Karapanagiotis, Marius Liebald, Uwe WalzDesign and Implementation of a Historical German Firm-level Financial Database
forthcoming in Journal of Data and Information Quality
Financial Intermediation, Data Center Published Paper2022informational systems, database design, database models, economic history, financial data, cliometrics,
Sebastian Steuer, Tobias TrögerThe Role of Disclosure in Green Finance
Journal of Financial Regulation
Law and Finance Published Paper2022
Rainer Haselmann, Jan Pieter Krahnen, Tobias Tröger, Mark WahrenburgInstitutional Protection Schemes: What are their differences, strengths, weaknesses, and track records?
White Paper No. 88
Financial Intermediation Policy Paper2022IPS, deposit guarantee scheme, savings banks
Fabian Nemeczek, Jan Wedigo RadermacherPersonality-Augmented MPC: Linking Survey and Transaction Data to Explain MPC Heterogeneity by Big Five Personality Traits
SAFE Working Paper No. 348
Household Finance SAFE Working Paper2022Marginal Propensity to Consume, Big Five Personality, Survey Data, Transaction Data
Heiko Jacobs, Christine Laudenbach, Sebastian Müller, Philipp Schreiber, Martin WeberDie genial einfache Vermögensstrategie - so gelingt die finanzielle Unabhängigkeit
Campus Verlag
Household Finance Published Paper2020Vermögen, Kapitalanlage, Financial Investment
Emily C. Haisley, Christine Laudenbach, Martin WeberThe Role of Experience Sampling and Graphical Displays on One's Investment Risk Appetite
Management Science
Household Finance Published Paper2013risk taking, asset allocation, risk perception
Christine Laudenbach, Martin WeberSometimes Less is More - the Influence of Information Aggregation on Investment Decisions
Journal of Economic Behavior & Organization
Household Finance Published Paper2013risk-return, information aggregation, investment decisions
Christian Ehm, Christine Laudenbach, Martin WeberVolatility Inadaptability: Investors Care About Risk, but Cannot Cope with Volatility
Review of Finance
Household Finance Published Paper2014volatility, risk attitude, experimental finance, behavioral asset pricing
Christine Laudenbach, Ulrike M. Malmendier, Alexandra Niessen-RuenziEmotional Tagging and Belief Formation: The Long-Lasting Effects of Experiencing Communism
AEA Papers and Proceedings
Household Finance Published Paper2019Household Finance, Emotional Tagging, Communism
Andrej Gill, Florian Hett, Johannes TischerTime Inconsistency and Overdraft Use: Evidence from Transaction Data and Behavioral Measurement Experiments
SAFE Working Paper No. 347
Household Finance, Experiment Center SAFE Working Paper2022Household Finance, Paycheck Sensitivity, Fintech, Time Inconsistency, Time Preferences, Experiment, Behavioral Measurement
Alfons J. WeichenriederRussia Today – The Russian Invasion of Ukraine and Russia’s Public Finances
Policy Letter No. 96
Macro Finance Policy Paper2022Ukraine, Russia, Invasion, Public Finance, Energy Embargo
Roman Inderst, Marcus OppSocially Optimal Sustainability Standards with Non-Consequentialist ("Warm Glow") Investors
SAFE Working Paper No. 346
Financial Intermediation, Law and Finance, Household Finance SAFE Working Paper2022Sustainability; ESG; green financing; labelling;
Florian Heider, Roman InderstA Corporate Finance Perspective on Environmental Policy
SAFE Working Paper No. 345
Financial Intermediation, Law and Finance, Household Finance SAFE Working Paper2022
Steffen Eibelshäuser, Fabian SmetakFrequent Batch Auctions and Informed Trading
SAFE Working Paper No. 344
Household Finance, Financial Markets SAFE Working Paper2022
Alessandro Di Nola, Leo Kaas, Haomin WangRescue Policies for Small Businesses in the COVID-19 Recession
SAFE Working Paper No. 343
Macro Finance SAFE Working Paper2022
Alperen Afsin Gözlügöl, Wolf-Georg RingePrivate Companies: The Missing Link on The Path to Net Zero
SAFE Working Paper No. 342
Law and Finance SAFE Working Paper2022private companies, net zero transition, sustainability disclosures, brown-spinning, climate change, private equity
Ignazio Angeloni, Christopher Daase, Nicole Deitelhoff, Matthias Goldmann, Jan Pieter Krahnen, Stefan Kroll, Carl-Georg Luft, Andreas Nölke, Anton Peez, Loriana PelizzonDesigning a rational sanctioning strategy
Policy Letter No. 95
Financial Markets Policy Paper2022SWIFT, Russian Sanctions
Sandra EckertThe Limits of Joint-Institutional Frameworks for Sectoral Governance in EU-Swiss Bilateral Relations: Lessons for Future Relations with the UK
SAFE Working Paper No. 341
Financial Intermediation SAFE Working Paper2022
Tobias TrögerCapital and Liquidity Requirements for European Banks
forthcoming in Oxford EU Financial Regulation (Oxford University Press)
Law and Finance Published Paper2022
Christine Laudenbach, Benjamin Loos, Jenny Pirschel, Johannes WohlfartThe Trading Response of Individual Investors to Local Bankruptcies
Journal of Financial Economics.
Household Finance Published Paper2021Individual investors, risk-taking, trading, experiences
Markus Kröll, Devesh RustagiMeasuring Honesty and Explaining Adulteration in Naturally Occurring Markets
forthcoming in Journal of Development Economics
Law and Finance, Experiment Center Published Paper2022Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India
Alexander Hillert, Heiko Jacobs, Sebastian MüllerMedia Makes Momentum
Review of Financial Studies
Data Center Published Paper2014
Alexander Hillert, Heiko JacobsAlphabetic Bias, Investor Recognition, and Trading Behavior
Review of Finance
Data Center Published Paper2015
Maug Ernst, Alexander Hillert, Stefan ObernbergerStock Repurchases and Liquidity
Journal of Financial Economics
Data Center Published Paper2016
Alexander Hillert, Heiko Jacobs, Sebastian MüllerJournalist Disagreement
Journal of Financial Markets
Data Center Published Paper2018
Anastasia Kotovskaia, Tobias TrögerNational Interests and Supranational Resolution in the European Banking Union
SAFE Working Paper No. 340
Financial Intermediation SAFE Working Paper2022SRB, SRF, bank resolution, banking union, bail-in, ESM, national interest, political economy, bureaucrats’ incentives
Patrick Behr, Alejandro H. Drexler, Reint Gropp, Andre GuettlerFinancial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort Under an Incomplete Contract
Journal of Financial and Quantitative Analysis
Financial Intermediation, Systemic Risk Lab Published Paper2019
Roman Inderst, Stefan ThomasNachhaltigkeit und Wettbewerb: Zu einer Reform des Wettbewerbsrechts für die Erreichung von Nachhaltigkeitszielen
Policy Letter No. 94
Law and Finance Policy Paper2022Nachhaltigkeit, ESG, Wettbewerbsrecht
Maximilian Lubda, Elsa MassocSocial Media, Polarization and Democracy: A Multi-Methods Analysis of Polarized Users’ Interactions on Reddit’s r/WallStreetBets
SAFE Working Paper No. 337
Law and Finance SAFE Working Paper2022social media, polarization, democracy, investment forum
Victor Klockmann, Marie Claire Villeval, Alicia von SchenkArtificial Intelligence, Ethics, and Intergenerational Responsibility
SAFE Working Paper No. 335
Household Finance, Experiment Center SAFE Working Paper2022
Matthias GoldmannContesting Austerity in the 1970s and 1980s - When Human Rights Went Missing
Contingency in International Law: On the Possibility of Different Legal Histories
Financial Intermediation, Macro Finance Published Paper2021
Matthias Goldmann, Ingo Venzke, Armin von BogdandyGemeinwohl im Völkerrecht. Eine Theorie internationaler öffentlicher Gewalt
Normative Ordnungen (Suhrkamp)
Financial Intermediation, Law and Finance, Macro Finance Published Paper2021
Matthias GoldmannFinanzverfassung und kommunaler Finanzausgleich. Zum Begriff der Finanzkraftreihenfolge bei interkommunalen Umlagen
Die Öffentliche Verwaltung
Financial Intermediation, Law and Finance Published Paper2021
Ilya Dergunov, Christoph Meinerding, Christian SchlagExtreme Inflation and Time-Varying Expected Consumption Growth
forthcoming in Management Science
Financial Markets Published Paper2022
Monica Billio, Michele Costola, Iva Hristova, Carmelo Latino, Loriana PelizzonSustainable Finance: A journey toward ESG and climate risk
SAFE Working Paper No. 349
Financial Markets SAFE Working Paper2022Environmental, social, and governance factors (ESG); credit risk; debt cost; equity cost; sovereign bonds; portfolio management
Alperen Afsin GözlügölControlling Tunnelling Through Lending Arrangements: The Disciplining Effect of Lending Arrangements on Value-Diversion, Its Limits and Implications
European Business Law Review
Law and Finance Published Paper2022
Alperen Afsin GözlügölBlinded by Fairness: Why We Need (Strong) Procedural Safeguards in Screening Self-Dealing and Obtaining A Fair Price Is Not the Answer
forthcoming in European Business Organization Law Review
Law and Finance Published Paper2022
Alperen Afsin GözlügölRelated Party Transactions by Directors/Managers in Public Companies: A Data-Supported Analysis
Journal of Corporate Law Studies
Law and Finance Published Paper2021
Alperen Afsin GözlügölThe Political Economy of the Related Party Transactions Regulation in the Shareholders’ Rights Directive II
Yearbook of European Law (Oxford University Press)
Law and Finance Published Paper2020
Raimond MaurerChancen und Risiken der kapitalgedeckten Alterssicherung
Vermögensbildungspolitik (Springer)
Household Finance Published Paper2021
Ilya Dergunov, Christoph Meinerding, Christian SchlagExtreme Inflation and Time-Varying Expected Consumption Growth
SAFE Working Paper No. 334
Financial Markets SAFE Working Paper2022
Sandra Eckert, Vincent R. Lindner, Andreas NölkePolitical Science Research on the Reasons for the (non) Adoption and (non) Implementation of EMU Reform Proposals: The State of the Art
SAFE Working Paper No. 339
Macro Finance SAFE Working Paper2022
Andreas NölkeFor a Plurality of Economic and Social Models! Against a Monolithic Euro State!
Key Controversies in European Integration (Bloomsbury Publishing)
Macro Finance Published Paper2021
Andreas NölkeIn Search of Institutional Complementarities: Comparative Capitalism and Economic Policy Reform
Journal of Economic Policy Reform
Macro Finance Published Paper2021
Andreas NölkeThe Deformation of the Core by Dependency Relations: The Case of Germany in Europe
Dependent Capitalisms in Contemporary Latin America and Europe. International Political Economy Series (Springer)
Macro Finance Published Paper2021
Sandra EckertThe European Green Deal and the EU’s Regulatory Power in Times of Crisis
The JCMS Annual Review of the European Union in 2020
Macro Finance Published Paper2021
Vincent R. LindnerSolidarity without Conditionality. Comparing the EU Covid-19 Safety Nets SURE, Pandemic Crisis Support, and European Guarantee Fund
SAFE Working Paper No. 333
Macro Finance SAFE Working Paper2022
Benedikt Happ, Tobias TrögerBeschlussmängelrecht nach dem MoPeG: Bestandsaufnahme, Kritik und Fortentwicklung
Zeitschrift für Wirtschaftsrecht
Law and Finance Published Paper2021
Rainer Haselmann, Tobias TrögerWhen and How to Unwind COVID-Support Measures to the Banking System?
Financial Stability amidst the Pandemic Crisis: On Top of the Wave
Law and Finance Published Paper2021Covid-19, Forbearance, Bank Capitalization, Bank Resolution, Supervisory Relief Measures, Financial Stability
Tobias TrögerPersonelle Reichweite aktienrechtlicher Stimmverbote bei Aktionärsgruppen mit einheitlicher Interessenausrichtung
Festschrift für Barbara Grunewald
Law and Finance Published Paper2021
Benedikt Happ, Tobias TrögerUnzulängliche Institutionenbildung im Beschlussmängelrecht der Personengesellschaft
Neue Zeitschrift für Gesellschaftsrecht
Law and Finance Published Paper2021
Victor Klockmann, Marie Claire Villeval, Alicia von SchenkArtificial Intelligence, Ethics, and Diffused Pivotality
SAFE Working Paper No. 336
Household Finance, Experiment Center SAFE Working Paper2022Artificial Intelligence, Big Data, Pivotality, Ethics, Experiment
Gyozo Gyöngyösi, Judit Rariga, Emil VernerThe Anatomy of Consumption in a Household Foreign Currency Debt Crisis
SAFE Working Paper No. 332
Household Finance SAFE Working Paper2021
Nina Biljanovska, Spyridon PalligkinisControl Thyself: Self-Control Failure and Household Wealth
Journal of Banking & Finance
Household Finance, Macro Finance Published Paper2018Self-Control, Household Wealth, Household Finance
Alexander Ludwig, Matthias SchönEndogenous Grids in Higher Dimensions: Delaunay Interpolation and Hybrid Methods
Computational Economics (Springer)
Household Finance, Macro Finance Published Paper2018Dynamic Models, Numerical Solution, Method of Endogenous Gridpoints, Delaunay Interpolation
Shafik Hebous, Tom ZimmermannRevisiting the Narrative Approach of Estimating Tax Multipliers
The Scandinavian Journal of Economics
Macro Finance Published Paper2018Narrative Approach, Fiscal Stabilization, Tax Multiplier, Weak Instruments
Ruggero Jappelli, Loriana Pelizzon, Alberto PlazziThe Core, the Periphery, and the Disaster: Corporate-Sovereign Nexus in COVID-19 Times
SAFE Working Paper No. 331
Financial Markets SAFE Working Paper2021
Iñaki Aldasoro, Iván AlvesMultiplex Interbank Networks and Systemic Importance: An Application to European Data
Journal of Financial Stability
Macro Finance Published Paper2018interbank networks, systemic importance, multiplex networks
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana SchimetschekOptimal Social Security Claiming Behavior under Lump Sum Incentives: Theory and Evidence
Journal of Risk and Insurance
Household Finance Published Paper2021Annuity, delayed retirement, lifetime income, pension, early retirement, Social Security
Giovanni Bonaccolto, Massimiliano Caporin, Roberto PanzicaEstimation and Model-Based Combination of Causality Networks
Journal of Empirical Finance
Financial Markets Published Paper2019Granger causality, quantile causality, multi-layer network, network combination
Michael Donadelli, Patrick GrüningInnovation Dynamics and Fiscal Policy: Implications for Growth, Asset Prices, and Welfare
The North American Journal of Economics and Finance
Financial Markets Published Paper2021Endogenous growth, Asset pricing, Government, Fiscal policy, Heterogeneous innovation
Andreas Barth, Deyan RadevIntegration Culture of Global Banks and the Transmission of Lending Shocks
Journal of Banking & Finance
Financial Intermediation Published Paper2022
Tobias TrögerWhy MREL Won’t Help Much: Minimum Requirements for Bail-In Capital as an Insufficient Remedy for Defunct Private Sector Involvement Under the European Bank Resolution Framework
Journal of Banking Regulation
Financial Intermediation Published Paper2019MREL, TLAC, G-SIB, bail-in, bank resolution
Baptiste Massenot, Yuri PettinicchiCan Firms See into the Future? Survey Evidence from Germany
Journal of Economic Behavior & Organization
Macro Finance Published Paper2018Expectation formation; Expectation error; Learning; Extrapolation; Experience
Michael Donadelli, Patrick Grüning, Marcus Jüppner, Renatas KizysGlobal Temperature, R&D Expenditure, and Growth
Energy Economics
Financial Markets Published Paper2021Global Temperature, R&D, Welfare Costs
Vanya Horneff, Raimond Maurer, Olivia S. MitchellHow Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior
How Persistent Low Returns Will Shape Saving and Retirement (University Press Scholarship Online)
Household Finance Published Paper2018dynamic portfolio choice; 401(k) plan; saving; Social Security claiming age; retirement income; minimum distribution requirements; tax
Tobias TrögerRegulation of Crowdfunding in Germany
Legal Aspects of Crowdfunding. In: Ius Comparatum - Global Studies in Comparative Law (Springer)
Law and Finance Published Paper2021crowdfunding, crowdsponsoring, crowdlending, crowdinvesting, contract law, conflict of laws, banking regulation, securities regulation
Dirk Krueger, Alexander Ludwig, Sergio VillalvazoOptimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk
Journal of Public Economics
Macro Finance Published Paper2021Idiosyncratic riskTaxation of capitalOverlapping generationsPrecautionary savingPecuniary externalities
Luca Enriques, Tobias TrögerGermany’s Reluctance to Regulate Related Party Transactions: An Industrial Organization Perspective
The Law and Finance of Related Party Transactions (Cambridge University Press)
Law and Finance Published Paper2019related party transactions, Germany Inc., industrial organization, tunneling, private benefits of control, capital maintenance, group law
Florian Hoffmann, Roman Inderst, Marcus OppOnly Time will Tell: A Theory of Deferred Compensation
The Review of Economic Studies
Law and Finance Published Paper2021Compensation design, duration of pay, moral hazard, persistence, principal- agent models, informativeness principle
Andreas Hackethal, Steffen Meyer, Charline UhrSmoking Hot Portfolios? Overtrading from Self-Control Failure
Journal of Empirical Finance
Household Finance Published Paper2021self-control; portfolio allocation; individual investor; trading behavior
Matthias Thiemann, Tobias TrögerDetecting Tail Risks to Preclude Regulatory Arbitrage
Accounting, Economics, and Law: A Convivium
Financial Intermediation Published Paper2020shadow banking, regulatory arbitrage, principles-based regulation, credit funds, prudential supervision, non-bank financial intermediation
Dimitrios Kostopoulos, Steffen Meyer, Charline UhrAmbiguity About Volatility and Investor Behavior
forthcoming in Journal of Financial Economics
Household Finance Published Paper2022
Tobias TrögerBewertung des Vorschlags der BaFin für eine Richtlinie für nachhaltige Investmentvermögen
Policy Letter No. 93
Law and Finance Policy Paper2021Sustainable Finance, Regulierung, Nachhaltigkeit, Offenlegungspflichten, BaFin
Jan Krzyzanowski, Uwe WalzBank Regulation, Lending and Patenting: Evidence from the EBA Capital Exercise
SAFE Working Paper No. 330
Financial Intermediation SAFE Working Paper2021financing, bank lending, patents
Jana Eisenkopf, Steffen Juranek, Uwe WalzResponsible Investment and Stock Market Shocks: Short-Term Insurance and Persistent Outperformance Post-Crisis?
SAFE Working Paper No. 329
Financial Intermediation SAFE Working Paper2021Responsible investment, ESG, stock market crisis, persistence
Benjamin Clapham, Peter Gomber, Michael SieringPopular News Are Relevant News! How Investor Attention Affects Algorithmic Decision-Making and Decision Support in Financial Markets
Information Systems Frontiers
Financial Markets Published Paper2021
Micha Bender, Benjamin Clapham, Peter Gomber, Jascha-Alexander KochTo Bundle or Not to Bundle? A Review of Soft Commissions and Research Unbundling
Financial Analysts Journal
Financial Markets Published Paper2021
Micha Bender, Tino Cestonaro, Peter Gomber, Jascha-Alexander KochResearch Unbundling and COVID-19: Will Europe's Capital Markets Recovery Package Help?
Journal of Investing
Financial Markets Published Paper2021
Hoang Ha Nguyen Thi, Alfons J. WeichenriederC and S Corporation Banks: Did Trump’s Tax Reform Lead to Differential Effects?
SAFE Working Paper No. 328
Macro Finance SAFE Working Paper2021Tax Cuts and Jobs Act, corporate taxation, S corporations, C corporations, banks
Otmar IssingCentral Banks – independent or almighty?
Policy Letter No. 92
Macro Finance Policy Paper2021Central banks
Fincap Team, Jan Pieter Krahnen, Loriana Pelizzon, Christian WestheideNon-Standard Errors
SAFE Working Paper No. 327
Financial Intermediation, Financial Markets SAFE Working Paper2021non-standard errors, multi-analyst approach, liquidity
Wenhui Li, Peter Ockenfels, Christian WildeThe Effect of Ambiguity on Price Formation and Trading Behavior in Financial Markets
SAFE Working Paper No. 326
Financial Markets SAFE Working Paper2021ambiguity, financial market, market price, volatility, trading activity, bid- ask spread, market-based measure of ambiguity, laboratory experiment
Alperen Afsin GözlügölThe Clash of ‘E’ and ‘S’ of ESG: Just Transition on the Path to Net Zero and the Implications for Sustainable Corporate Governance and Finance
SAFE Working Paper No. 325
Law and Finance SAFE Working Paper2021climate change, sustainability, ESG, employees, workforce, net zero transition, corporate governance, institutional investors, green finance
Gyozo Gyöngyösi, Emil VernerHousehold Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis
American Economic Review
Household Finance Published Paper2020
Gyozo Gyöngyösi, Emil VernerFinancial Crisis, Creditor-Debtor Conflict, and Populism
forthcoming in Journal of Finance
Household Finance Published Paper2022
Andreas Hackethal, Tobin Hanspal, Dominique Lammer, Kevin RinkThe Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments
forthcoming in Review of Finance
Household Finance Published Paper2022Bitcoin, Cryptocurrencies, Structured retail products, Retail investors, Household finance, Investor behavior
Monica Billio, Bertrand B. Maillet, Loriana PelizzonA Meta-Measure of Performance Related to Both Investors and Investments Characteristics
forthcoming in Annals of Operations Research
Financial Markets Published Paper2022
Monica Billio, Massimiliano Caporin, Lorenzo Frattarolo, Loriana PelizzonNetworks in Risk Spillovers: A Multivariate GARCH Perspective
forthcoming in Econometrics and Statistics
Financial Intermediation, Systemic Risk Lab Published Paper2022spatial GARCH; network; risk spillover; nancial spillover
Katja Langenbucher, Loriana PelizzonShort Selling – On Ethics, Politics, and Culture
Zeitschrift für Bankrecht und Bankwirtschaft
Financial Markets Published Paper2021
Jan Pieter Krahnen, Jörg Rocholl, Marcel ThumA primer on green finance: From wishful thinking to marginal impact
White Paper No. 87
Financial Markets Policy Paper2021Green Finance, Climate Change, Sustainability, Taxonomy, ESG
Massimiliano Caporin, Michele CostolaTime-Varying Granger Causality Tests for Applications in Global Crude Oil Markets: A Study on the DCC-MGARCH Hong Test
SAFE Working Paper No. 324
Financial Markets SAFE Working Paper2021Granger Causality, Hong test, DCC-GARCH, Oil market, COVID-19
Alexandre Corhay, Thilo Kind, Howard Kung, Gonzalo MoralesDiscount Rates, Debt Maturity, and the Fiscal Theory
SAFE Working Paper No. 323
Macro Finance SAFE Working Paper2021Term structure of interest rates, Fiscal theory of the price level, Bond risk premia, Government debt, DSGE models, Nonlinear solution methods
Gianluca Anese, Marco Corazza, Michele Costola, Loriana PelizzonImpact of Public News Sentiment on Stock Market Index Return and Volatility
SAFE Working Paper No. 322
Financial Markets SAFE Working Paper2021Public financial news, Stock market, NLP, Dictionary, LSTM neural net- works, Investor sentiment, S&P 500
Dmitry Kuvshinov, Niklas Kaspar ZimmermannThe Big Bang: Stock Market Capitalization in the Long Run
forthcoming in Journal of Financial Economics
Macro Finance Published Paper2022Stock market capitalizationEquity issuanceCorporate profitsWealth-to-income ratiosLong-run trends
Prioritäten für die Bundestagswahl 2021 im Finanzbereich
Policy Letter No. 91
Financial Markets Policy Paper2021Klimawandel, Green Finance, Digitalisierung, Finanzstabilität, Bankenunion, Kapitalmarktunion, Altersversorgung
Dennis Gram, Pantelis Karapanagiotis, Jan Krzyzanowski, Marius Liebald, Uwe WalzAn Extensible Model for Historical Financial Data with an Application to German Company and Stock Market Data
In Proceedings of the ICTeSSH 2021 conference
Financial Intermediation, Data Center Thirdparty Related Work2021
Ignazio Angeloni, Johannes Kasinger, Chantawit TantasithThe Geography of Banks in the United States (1990-2020)
SAFE Working Paper No. 321
Financial Intermediation SAFE Working Paper2021
Sebastian Steuer, Tobias TrögerThe Role of Disclosure in Green Finance
SAFE Working Paper No. 320
Law and Finance SAFE Working Paper2021
Erik Theissen, Christian WestheideCall of Duty: Designated Market Maker Participation in Call Auctions
SAFE Working Paper No. 319
Financial Markets SAFE Working Paper2021
Michele Costola, Matteo Iacopini, Carlo R.M.A. SantagiustinaOn the “Mementum” of Meme Stocks
Economics Letters
Financial Markets Published Paper2021Meme stocksSocial mediaSocial tradingCointegrationRegime switching
Kevin Bauer, Michael Kosfeld, Ferdinand von SiemensIncentives, Self-Selection, and Coordination of Motivated Agents for the Production of Social Goods
SAFE Working Paper No. 318
Financial Intermediation, Experiment Center SAFE Working Paper2021
Volker Flögel, Christian Schlag, Claudia ZunftMomentum-Managed Equity Factors
SAFE Working Paper No. 317
Financial Markets SAFE Working Paper2021factor timing, time series momentum, anomalies
Rainer Haselmann, Tobias TrögerWhat are the main differences between the practice of supervising large banks in the UK and in the euro area, and what are the main risks of regulatory divergence?
White Paper No. 86
Law and Finance Policy Paper2021Bank Supervision, Economic Governance, Banking Union, Brexit
Christian Mücke, Loriana Pelizzon, Vincenzo Pezone, Anjan ThakorThe Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments
SAFE Working Paper No. 316
Financial Markets SAFE Working Paper2021Bank Bailout, TARP, Capital Purchase Program, Dividend Pay- ments, Board Appointments, Bank Recapitalization
Barbara Kaschützke, Raimond MaurerStaatliche Sicherung und Eigenvorsorge in der Sozialen Marktwirtschaft der Bundesrepublik Deutschland
Policy Letter No. 90
Household Finance Policy Paper2021Soziale Marktwirtschaft, staatliche Sozialversicherung, private Vermögensbildung, demographischer Wandel
Monica Billio, Michele Costola, Loriana Pelizzon, Max RiedelBuildings' Energy Efficiency and the Probability of Mortgage Default: The Dutch Case
forthcoming in Journal of Real Estate Finance and Economics
Financial Markets, Systemic Risk Lab Published Paper2022Mortgages, Energy Eciency, Credit Risk
Monica Billio, Michele Costola, Iva Hristova, Carmelo Latino, Loriana PelizzonInside the ESG Ratings: (Dis)agreement and Performance
Corporate Social Responsibility and Environmental Management, Special Issue on Environmental, Social, Governance: Implications for Businesses and Effects for Stakeholders
Financial Markets Published Paper2021
Mila Getmansky Sherman, Ravi Jagannathan, Loriana Pelizzon, Ernst Schaumburg, Darya YuferovaRecovery from Fast Crashes: Role of Mutual Funds
forthcoming in Journal of Financial Markets
Financial Markets, Systemic Risk Lab, Data Center Published Paper2022Liquidity Provision; Market Fragility; Flash Crash; Slow-Moving Capital
Farshid Abdi, Mila Getmansky Sherman, Emily Kormanyos, Loriana Pelizzon, Zorka SimonMarket Impact of Government Communication: The Case of Presidential Tweets
SAFE Working Paper No. 314
Financial Markets SAFE Working Paper2021Market efficiency, Social media, Twitter, High-frequency event study, Machine learning, ETFs.
Thomas HuertasReset required: The euro area crisis management and deposit insurance framework
White Paper No. 85
Financial Intermediation Policy Paper2021Deposit Insurance, Crisis Management, BRRD, Resolution
Mahendrarajah Nimalendran, Khaladdin Rzayev, Satchit SagadeHigh-Frequency Trading (HFT) in the Stock Market and the Costs of Option Market Making
Financial Markets Thirdparty Working Paper2021
Kevin Bauer, Andrej GillMirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies
SAFE Working Paper No. 313
Financial Intermediation, Experiment Center SAFE Working Paper2021Algorithmic transparency, algorithmic decision support, human–machine interaction
Johannes Kasinger, Lukas Nöh, Alfons J. WeichenriederZinsänderungsrisiken und langfristige Zinsbindung vor dem Hintergrund der hessischen Zinsswaps
Perspektiven der Wirtschaftspolitik
Macro Finance Published Paper2019
Kunka Petkova, Alfons J. WeichenriederThe Relevance of Depreciation Allowances as a Fiscal Policy Instrument: A Hybrid Approach to CCCTB?
Empirica
Macro Finance Published Paper2020
Elsa MassocFifty Shades of Hatred and Discontent - Varieties of Anti-finance Discourses on the European Twitter (France, Germany, Italy, Spain and the UK)
SAFE Working Paper No. 338
Law and Finance SAFE Working Paper2022finance, opinion, social media, discourse analysis
Theresa KreftBankenstrukturreformen in Deutschland und dem Vereinigten Königreich
Schriften zum Unternehmens- und Kapitalmarktrecht 68 (Mohr Siebeck)
Law and Finance Published Paper2019
Kevin Bauer, Oliver Hinz, Christof Weinhardt, Wil van der AalstExpl(AI)n It to Me – Explainable AI and Information Systems Research
Business & Information Systems Engineering
Financial Intermediation, Experiment Center Published Paper2021
Can Gao, Ian MartinVolatility, Valuation Ratios, and Bubbles: An Empirical Measure of Market Sentiment
Journal of Finance
Financial Markets Published Paper2021bubbles, Option prices, sentiment, valuation ratios, volatility
Can Gao, Ian MartinVolatility, Valuation Ratios, and Bubbles: An Empirical Measure of Market Sentiment
SAFE Working Paper No. 312
Financial Markets SAFE Working Paper2021bubbles, Option prices, sentiment, valuation ratios, volatility
Patrick Blank, Ann-Katrin Kaufhold, Jan Pieter Krahnen, Katja LangenbucherBaFin (in)dependence – A reform proposal
White Paper No. 82
Law and Finance, Financial Markets Policy Paper2021Capital markets, supervision, Wirecard
Konstantin Bräuer, Andreas Hackethal, Tobin HanspalConsuming Dividends
forthcoming in Review of Financial Studies
Household Finance Published Paper2022Consumption, Stock market wealth, Dividends, Excess sensitivity, Self-control, Household finance, Retail investor
Andreas NölkeCapitalist Diversity in Europe
The Routledge Handbook of Critical European Studies (Routledge Taylor & Francis Group)
Macro Finance Published Paper2021
Vincent R. LindnerConflict or Cooperation? Explaining the European Commission’s and Social Partners’ Preferences for Low-Level Social Dialogue
forthcoming in The Role of Social Partners in Managing Europe’s Great Recession Crisis Corporatism or Corporatism in Crisis? (Routledge Taylor & Francis Group)
Macro Finance Published Paper2021
Kardelen Günaydin, Daniel MertensPolitisiertes Sparen und die Europäische Zentralbank. Zur Politischen Ökonomie der Geldpolitischen Debatte in Deutschland
Macro Finance Published Paper2020
Kevin Bauer, Oliver Hinz, Moritz von ZahnExpl(AI)ned: The Impact of Explainable Artificial Intelligence on Cognitive Processes
SAFE Working Paper No. 315
Financial Intermediation, Experiment Center SAFE Working Paper2021XAI, explainable machine learning, Information Processing, Belief up-dating, algorithmic transparency
Elsa MassocWhen Do Banks Do What Governments Tell Them to Do? A Comparative Study of Greek Bonds’ Management in France and Germany at the Onset of the Euro-Crisis'
New Political Economy
Financial Intermediation Published Paper2020
Johannes Kasinger, Jan Pieter Krahnen, Steven Ongena, Loriana Pelizzon, Maik Schmeling, Mark WahrenburgNon-performing Loans - New risks and policies?
White Paper No. 84
Financial Markets Policy Paper2021Covid-19, Non-performing Loans, Bank Resolution, Secondary Loan Markets, BRRD
Rainer Haselmann, Tobias TrögerWhen and how to unwind COVID-support measures to the banking system?
White Paper No. 83
Law and Finance Policy Paper2021Covid-19, Forbearance, Bank Capitalization, Bank Resolution, Supervisory Relief Measures, Financial Stability
Loriana Pelizzon, Aleksandra Rzeźnik, Kathleen Weiss HanleyInvestor Reliance on ESG Ratings and Stock Price Performance
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Financial Markets SAFE Working Paper2021Corporate Social Responsibility, ESG Rating Agencies, Sustainable Invest- ments, Socially responsible investing, ESG, Portfolio choice
Tim Alexander Kroencke, Maik Schmeling, Andreas SchrimpfThe FOMC Risk Shift
Journal of Monetary Economics
Financial Markets Published Paper2021
Christoph Hambel, Holger Kraft, Eduardo S. SchwartzOptimal Carbon Abatement in a Stochastic Equilibrium Model with Climate Change
European Economic Review
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Tabea Bucher-Koenen, Andreas Hackethal, Johannes Koenen, Christine LaudenbachGender Differences in Financial Advice
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Household Finance SAFE Working Paper2021credence goods, financial aptitude, consumer protection, financial literacy, discrimination
Thomas PaulsThe Impact of Temporal Framing on the Marginal Propensity to Consume
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Household Finance SAFE Working Paper2021
Samuel Rönnqvist, Satchit Sagade, Katia Vozian, Pontus WistbackaPredicting Stock Price and Spread Movements from News
Proceedings of the 54th Hawaii International Conference on System Sciences, p. 1593
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Ester Faia, Andreas Fuster, Vincenzo Pezone, Basit ZafarBiases in Information Selection and Processing: Survey Evidence from the Pandemic
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Law and Finance SAFE Working Paper2021Belief updating, confirmatory biases, endogenous informa- tion acquisition, media polarization, source dependence, COVID-19
Aljoscha Janssen, Johannes KasingerObfuscation and Rational Inattention in Digitalized Markets
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Financial Intermediation, Financial Markets SAFE Working Paper2021Rational Inattention, Obfuscation, Price Competition, Digitalized Markets
Kevin Bauer, Oliver Hinz, Patrick WeberKI in der Finanzbranche: Im Spannungsfeld zwischen technologischer Innovation und regulatorischer Anforderung
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Sabine Bernard, Benjamin Loos, Martin WeberThe Disposition Effect in Boom and Bust Markets
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Household Finance SAFE Working Paper2021Disposition Effect, Financial Market Cycles, Household Finance, Retail Investor
Monica Billio, Mila Getmansky Sherman, Andrew Lo, Loriana Pelizzon, Abalfazl ZareeiGlobal Realignment in Financial Market Dynamics
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Financial Markets SAFE Working Paper2021Network theory; Centrality; High Frequency Data; ETFs; Financial Crises; Covid-19; International Finance
Andreas Hackethal, Ankit Kalda, Benjamin Loos, Alessandro PreviteroSmart (Phone) Investing? A Within Investor-Time Analysis of New Technologies and Trading Behavior
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Household Finance SAFE Working Paper2021fintech, investor behavior, financial risk-taking, lottery-type assets, investment biases, trend chasing, spillover effects
Stephanie Collet, Caroline FohlinFrom Liberalism to Fascism and Back Again: Law, Politics and the Evolution of Corporate Governance in Germany (1850-1950)
The Emergence of Corporate Governance - People, Power and Performance (Routledge Taylor & Francis Group)
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Di Bu, Tobin Hanspal, Yin Liao, Yong LiuRisk Taking, Preferences, and Beliefs: Evidence from Wuhan
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Household Finance SAFE Working Paper2021
Dennis Gram, Pantelis Karapanagiotis, Jan Krzyzanowski, Marius Liebald, Uwe WalzAn Extensible Model for Historical Financial Data with an Application to German Company and Stock Market Data
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Financial Intermediation, Data Center SAFE Working Paper2021
Ferdinand von SiemensMotivated Beliefs and the Elderly’s Compliance with COVID-19 Measures
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Law and Finance, Experiment Center SAFE Working Paper2021motivated beliefs; compliance behavior; age; health; COVID-19
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Financial Markets Policy Paper2021Bank Capitalization, Financial Crisis, Covid-19, Non-performing Loans, Asset Management Companies, Forbearance
Di Bu, Tobin Hanspal, Yin Liao, Yong LiuCultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing
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Thomas MoskCaptured by financial institutions? New academic insights for European policymakers
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Sandra Eckert, Vincent R. Lindner, Andreas NölkeEMU reform proposals and their (non) implementation: An overview
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Macro Finance Policy Paper2020Economic and Monetary Union; Banking Union; Capital Markets Union; Financial Integration; Economic Governance; Fiscal Solidarity; Eurozone; Policy Analysis
Emanuel Moench, Loriana Pelizzon, Michael Schneider, Calebe de RoureOTC Discount
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Financial Markets, Systemic Risk Lab, Data Center SAFE Working Paper2020Market Microstructure, Hybrid Markets, Venue Choice, Interdealer Brokerage, Fixed-Income, OTC Markets, Search Frictions, Information Frictions
Andreas Hackethal, Annika WeberFiscal Policies and Household Consumption during the COVID-19 Pandemic: A Review of Early Evidence
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Household Finance Policy Paper2020Household Consumption, Fiscal Policies, Covid-19, Fiscal Stimulus Program
Dimitrios Kostopoulos, Steffen Meyer, Charline UhrAmbiguity and Investor Behavior
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Household Finance SAFE Working Paper2020ambiguity, uncertainty, individual investor, trading behavior
Reint Gropp, Thomas Mosk, Steven Ongena, Ines Simac, Carlo WixSupranational Rules, National Discretion: Increasing Versus Inflating Regulatory Bank Capital?
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Macro Finance SAFE Working Paper2020Public-Private Partnerships, Infrastructure, Financing Costs, Default.
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Jan Pieter Krahnen, Katja Langenbucher, Christian Leuz, Loriana PelizzonWhat are the wider supervisory implications of the Wirecard case?
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Thomas HuertasPlug the gap: Make resolution ready for corona
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Law and Finance Policy Paper2020Resolution, Covid-19, Banking Crisis
Christoph Hambel, Holger Kraft, André Meyer-WehmannWhen Should Retirees Tap Their Home Equity?
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Household Finance SAFE Working Paper2020reverse mortgage, consumption-portfolio decisions, optimal stopping, biometric risks, financial disasters
Christian Alemán, Christopher Busch, Alexander Ludwig, Raül Santaeulàlia-LlopisEvaluating the Effectiveness of Policies Against a Pandemic
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Macro Finance SAFE Working Paper2020https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3714697
Andrea ModenaRecapitalization, Bailout, and Long-run Welfare in a Dynamic Model of Banking
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Financial Markets SAFE Working Paper2020Banks, bailout, general equilibrium, financial frictions, recapitalization, welfare.
Loriana Pelizzon, Satchit Sagade, Katia VozianResiliency: Cross-Venue Dynamics with Hawkes Processes
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Financial Markets SAFE Working Paper2020liquidity, resiliency, fragmentation, competition, high-frequency data, Hawkes processes
Nicole Branger, Patrick Konermann, Christoph Meinerding, Christian SchlagEquilibrium Asset Pricing in Directed Networks
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Christian Schlag, Michael Semenischev, Julian ThimmePredictability and the Cross-Section of Expected Returns: A Challenge for Asset Pricing Models
Management Science
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Nicola Fuchs-Schündeln, Dirk Krueger, Alexander Ludwig, Irina PopovaThe Long-Term Distributional and Welfare Effects of Covid-19 School Closures
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Macro Finance SAFE Working Paper2020Covid-19, school closures, inequality, intergenerational persistence
Christian Schlag, Michael Semenischev, Julian ThimmePredictability and the Cross-Section of Expected Returns: A Challenge for Asset Pricing Models
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Financial Markets SAFE Working Paper2020Asset pricing, cross-section of stock returns, predictability
Michele Costola, Oliver Hinz, Michael Nofer, Loriana PelizzonMachine Learning Sentiment Analysis, COVID-19 News and Stock Market Reactions
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Financial Markets SAFE Working Paper2020COVID-19 news, Sentiment Analysis, Stock Markets
Monica Billio, Mila Getmansky Sherman, Loriana PelizzonNon-Parametric Analysis of Hedge Fund Returns: New Insights from High Frequency Data
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Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz, Michael Kosfeld, Nicolas Winfried PfeufferThe Economic Consequences of Algorithmic Discrimination: Theory and Empirical Evidence
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Financial Intermediation, Experiment Center SAFE Working Paper2020 Algorithmic Discrimination, Artificial Intelligence, Game Theory, Economics, Batch Learning
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Household Finance SAFE Working Paper2020Risk Preferences, Incentives, Experimental Economics, Risk Aversion
Wenhui Li, Christian WildeSeparating the Effects of Beliefs and Attitudes on Pricing under Ambiguity
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Financial Markets SAFE Working Paper2021ambiguity, belief estimation, belief effect, ambiguity premium, laboratory experiments
Matthias Thiemann, Mario TümmlerBeyond Moral Hazard Arguments: The Role of National Deposit Insurance Schemes for Member States’ Preferences on EDIS
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Financial Intermediation Policy Paper2020Banking Union, Deposit Insurance, EDIS
Elena Carletti, Tommaso Oliviero, Marco Pagano, Loriana Pelizzon, Marti SubrahmanyamThe COVID-19 Shock and Equity Shortfall: Firm-level Evidence from Italy
The Review of Corporate Finance Studies
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Elena Carletti, Tommaso Oliviero, Marco Pagano, Loriana Pelizzon, Marti SubrahmanyamThe COVID-19 Shock and Equity Shortfall: Firm-level Evidence from Italy
SAFE Working Paper No. 285
Financial Markets SAFE Working Paper2020COVID-19, pandemics, losses, distress, equity, recapitalization.
Monica Billio, Michele Costola, Iva Hristova, Carmelo Latino, Loriana PelizzonInside the ESG Ratings: (Dis)agreement and Performance
SAFE Working Paper No. 284
Financial Markets SAFE Working Paper2020
Philipp Lamprecht, Alfons J. WeichenriederDer Verlustrücktrag als Mittel der Konjunkturpolitik – Ausweitung des Verlustrücktrags auch auf die Gewerbesteuer erforderlich
White Paper No. 71
Law and Finance Policy Paper2020Verlustrücktrag, Corona-Steuerhilfegesetz, Gewerbesteuer, Konjunkturpolitik
Vanessa Endrejat, Matthias ThiemannWhen Brussels meets shadow banking- technical complexity, regulatory agency and the reconstruction of the shadow banking chain
Competition & Change
Financial Intermediation, Systemic Risk Lab Published Paper2020
Jan Pieter Krahnen, Katja LangenbucherThe Wirecard lessons: A reform proposal for the supervision of securities markets in Europe
Policy Letter No. 88
Financial Markets Policy Paper2020Wirecard, securities markets, market supervision
Moritz Schularick, Sascha Steffen, Tobias TrögerBank capital and the European recovery from the COVID-19 crisis
White Paper No. 69
Law and Finance, Macro Finance Policy Paper2020bank capital, financial stablity, COVID-19
Daniel Munevar, Grygoriy PustovitBack to the Future: A Sovereign Debt Standstill Mechanism IMF Article VIII, Section 2 (b)
SAFE Working Paper No. 282
Macro Finance SAFE Working Paper2020sovereign debt standstill, sovereign debt restructuring, sovereign debt litigation, holdout litigation, vulture creditors
Kevin BauerHow did we do? The Impact of Relative Performance Feedback on Intergroup Hostilities
SAFE Working Paper No. 281
Financial Intermediation SAFE Working Paper2020social identity, relative performance feedback, discrimination, outgroup derogation
Calogero Brancatelli, Andreas Hackethal, Roman Inderst, Sebastian SchulerErkenntnisse aus sechs Wellen des Haushaltsbarometers: Sind "Konsumschecks" das richtige Mittel in der Corona-Krise?
Policy Letter No. 87
Household Finance Policy Paper2020Helicoptergeld, Haushaltskrisenbarometer, Mehrwertsteuersenkung, Kinderbonus
Tobin Hanspal, Annika Weber, Johannes WohlfartExposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations
SAFE Working Paper No. 279
Household Finance SAFE Working Paper2020Coronavirus, Stockholding, Wealth shocks, Expectation formation, Inequality.
Helmut Gründl, Fabian RegelePandemic Insurance through Pandemic Partnership Bonds: A Fully Funded Insurance Solution in a Public Private Partnership
Policy Letter No. 86
Financial Markets Policy Paper2020Covid-19-Crisis, catastrophe bond, public private partnership, pandemic insurance
Otmar IssingEncompassing monetary policy strategy review
White Paper No. 68
Money and Finance Policy Paper2020monetary policy, ECB, price stability, two-pillar system, strategy review
Sandra EckertEU Agencies in Banking and Energy Between Institutional and Policy Centralisation
SAFE Working Paper No. 278
Financial Intermediation SAFE Working Paper2020agency, banking, centralisation, energy, fiduciary, electricity, policy
Andreas Hackethal, Tobin Hanspal, Dominique Lammer, Kevin RinkThe Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments
SAFE Working Paper No. 277
Household Finance SAFE Working Paper2020Bitcoin, Cryptocurrencies, Structured retail products, Retail investors, Household finance, Investor behavior
Dimitrios Kostopoulos, Steffen Meyer, Charline UhrGoogle Search Volume and Individual Investor Trading
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Household Finance Published Paper2020Individual investorTrading behaviorInvestor sentiment
Massimiliano Caporin, Loriana Pelizzon, Alberto PlazziDoes Monetary Policy Impact Sovereign Credit Risk Comovement?
SAFE Working Paper No. 276
Financial Markets, Macro Finance SAFE Working Paper2020
Vanya Horneff, Raimond Maurer, Olivia S. MitchellPutting the Pension Back in 401(k) Plans: Optimal versus Default Longevity Income Annuities
Journal of Banking and Finance
Household Finance Published Paper2020Life cycle savingHousehold financeAnnuityLongevity risk401(k) planRetirement
Gbenga Ibikunle, Khaladdin RzayevCOVID-19: Venue Selection Effects and Implications for Market Quality
Financial Markets, Systemic Risk Lab Thirdparty Working Paper2020
Jan Pieter Krahnen, Loriana PelizzonPriorities for the CMU agenda
Policy Letter No. 85
Financial Markets Policy Paper2020CMU, High-Level-Forum, Interim Report
Loriana Pelizzon, Max Riedel, Zorka Simon, Marti SubrahmanyamCollateral Eligibility of Corporate Debt in the Eurosystem
SAFE Working Paper No. 275
Financial Markets, Macro Finance, Systemic Risk Lab SAFE Working Paper2020
Elsa MassocPolitics of Banking in Europe: Global Banks and Domestic Institutional Legacies
E-International Relations
Financial Intermediation Published Paper2020
Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Marti SubrahmanyamCorona and Financial Stability 4.0: Implementing a European Pandemic Equity Fund
Policy Letter No. 84
Financial Markets Policy Paper2020Coronavirus, Risk sharing, Financial stability, Policy measures in the EU, Equity fund
Marcel Thum, Alfons J. WeichenriederCorona-Bonds und ihre Alternativen
Policy Letter No. 83
Macro Finance Policy Paper2020Corona Bonds, Corona-Krise, Transferzahlungen
Matej Avbelj, Antonia Baraggia, Jürgen Bast, Bojan Bugarič, Emanuel Castellarin, Francesco Costamagna, Anuscheh Faraha, Matthias Goldmann, Anna-Katharina Mangold, Mario Savino, Alexander Thiele, Annamaria ViterboThe Case for Corona Bonds
Policy Letter No. 82
Law and Finance Policy Paper2020Corona Bonds, Coronavirus
Christopher Busch, Alexander Ludwig, Raül Santaeulàlia-LlopisEmerging Evidence of a Silver Lining: A Ridge Walk to Avoid an Economic Catastrophe in Italy and Spain
White Paper No. 67
Macro Finance Policy Paper2020Coronavirus, pandemic economics, lockdown costs
Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Marti SubrahmanyamCorona and Financial Stability 3.0: Try equity -risk sharing for companies, large and small
Policy Letter No. 81
Financial Markets Policy Paper2020Coronavirus, Financial stability, Risk sharing, Policy measures in the EU
Di Bu, Tobin Hanspal, Yin Liao, Yong LiuCultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing
SAFE Working Paper No. 273
Household Finance SAFE Working Paper2020Financial literacy, online borrowing, Consumer credit, Self-control, FinTech, China
Leo KaasCapital in the Corona Crisis
Policy Letter No. 80
Macro Finance Policy Paper2020corona crisis, capital liquidations, emergency loans
Christine Laudenbach, Benjamin Loos, Jenny Pirschel, Johannes WohlfartThe Trading Response of Individual Investors to Local Bankruptcies
SAFE Working Paper No. 272
Household Finance SAFE Working Paper2020Individual investors, risk-taking, trading, experiences
Pietro Dindo, Andrea Modena, Loriana PelizzonRisk Pooling, Leverage, and the Business Cycle
SAFE Working Paper No. 271
Financial Markets, Macro Finance SAFE Working Paper2020Amplification, business cycle, efficiency, dampening, restricted market participation, risk pooling
Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Marti SubrahmanyamCorona and Financial Stability 2.0: Act jointly now, but also think about tomorrow
Policy Letter No. 79
Financial Markets Policy Paper2020coronavirus, financial stability, systemic risk, strategies
Klaus Adam, Thiess Büttner, Joachim Hennrichs, Jan Pieter Krahnen, Jörg RochollZur Reform der Einlagensicherung: Elemente einer anreizkompatiblen Europäischen Rückversicherung
White Paper No. 66
Financial Markets Policy Paper2020Einlagensicherung, EDIS, Bankenunion
Arnoud Boot, Elena Carletti, Rainer Haselmann, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Stephen Schaefer, Marti SubrahmanyamThe Coronavirus and Financial Stability
Policy Letter No. 78
Financial Markets Policy Paper2020coronavirus, financial stability, banking, strategies
Marie Lalanne, Lorenzo Maria LevatiThe Impact of Job Referrals on Employment Outcomes in Top Corporate Positions
SAFE Working Paper No. 268
Financial Intermediation SAFE Working Paper2020Referrals, Job Match Quality, Social Networks, Board of Directors
Ester Faia, Maximilian Mayer, Vincenzo PezoneThe Value of Firm Networks: A Natural Experiment on Board Connections
SAFE Working Paper No. 269
Law and Finance SAFE Working Paper2020
Wataru Kureishi, Hannah Paule-Paludkiewicz, Hitoshi Tsujiyama, Midori WakabayashiTime Preferences over the Life Cycle
SAFE Working Paper No. 267
Household Finance SAFE Working Paper2020Time Preferences; Preference Stability; Age; Discount Rates
Aleksey Kolokolov, Giulia Livieri, Davide PirinoStatistical Inferences for Price Staleness
Journal of Econometrics
Financial Markets Published Paper2020staleness, idle time, liquidity, zero returns, stable convergence
Christian Schlag, Julian Thimme, Rüdiger WeberImplied Volatility Duration: A Measure for the Timing of Uncertainty Resolution
Journal of Financial Economics
Financial Markets Published Paper2021Preference for early resolution of uncertainty, implied volatility, cross-section of expected stock returns, asset pricing
Hengjie Ai, Jun E. Li, Kai Li, Christian SchlagThe Collateralizability Premium
Review of Financial Studies
Financial Markets Published Paper2020
Benjamin Bluhm, Jannic CuturaEconometrics at Scale: Spark Up Big Data in Economics
SAFE Working Paper No. 266
Financial Intermediation SAFE Working Paper2020Econometrics, Distributed Computing, Apache Spark
Raimond Maurer, Olivia S. MitchellOlder Peoples' Willingness to Delay Social Security Claiming
Journal of Pension Economics and Finance
Household Finance Published Paper2020Annuity; labor supply; lump sum; retirement age; social security
Christian Schlag, Julian Thimme, Rüdiger WeberImplied Volatility Duration: A Measure for the Timing of Uncertainty Resolution
SAFE Working Paper No. 265
Financial Markets SAFE Working Paper2020Preference for early resolution of uncertainty, implied volatility, cross-section of expected stock returns, asset pricing
Ignazio AngeloniTime to address the shortcomings of the banking union
Policy Letter No. 77
Policy Center, Money and Finance Policy Paper2020ECB, Banking Union, Cross-border Banking, Banking Supervision, Banking Resolution
Tatiana Farina, Jan Pieter Krahnen, Loriana Pelizzon, Mark WahrenburgWhat are the main factors for the subdued profitability of significant banks in the Banking Union, and is the ECB’s supervisory response conclusive and exhaustive?
White Paper No. 65
Financial Markets Policy Paper2019Bank Profitability, Supervisory Guidance, Banking Union, Financial regulation
Panagiotis Anagnostidis, Patrice FontaineLiquidity Commonality and High Frequency Trading: Evidence from the French Stock Market
International Review of Financial Analysis
Systemic Risk Lab Thirdparty Related Work2020
Jan FriedrichThe Effect of Academic Literature on Accounting Regulation: Evidence from Leases in Germany
Accounting History Review
Financial Intermediation Published Paper2019
Vanya Horneff, Raimond Maurer, Olivia S. MitchellHow will Persistent Low Expected Returns Shape Household Economic Behavior?
Journal of Pension Economics & Finance
Household Finance Published Paper2019
Hengjie Ai, Jun E. Li, Kai Li, Christian SchlagThe Collateralizability Premium
SAFE Working Paper No. 264
Financial Markets SAFE Working Paper2019
Andrea Bedin, Monica Billio, Michele Costola, Loriana PelizzonCredit Scoring in SME Asset-Backed Securities: An Italian Case Study
SAFE Working Paper No. 262
Financial Markets, Systemic Risk Lab SAFE Working Paper2019credit scoring; probability of default; small and medium enterprises; assetbacked securities
Monica Billio, Michele Costola, Loriana Pelizzon, Max RiedelBuildings' Energy Efficiency and the Probability of Mortgage Default: The Dutch Case
SAFE Working Paper No. 261
Financial Markets, Systemic Risk Lab SAFE Working Paper2019Mortgages, Energy Eciency, Credit Risk
Andrea Bedin, Monica Billio, Michele Costola, Loriana PelizzonCredit Scoring in SME Asset-Backed Securities: An Italian Case Study
Journal of Risk and Financial Management
Systemic Risk Lab Published Paper2019credit scoring; probability of default; small and medium enterprises; asset-backed securities
Matthias Thiemann, Tobias TrögerThe Case for a Normatively Charged Approach to Regulating Shadow Banking - Multipolar Regulatory Dialogues as a Means to Detect Tail Risks and Preclude Regulatory Arbitrage
SAFE Working Paper No. 260
Financial Intermediation SAFE Working Paper2019shadow banking, regulatory arbitrage, principles-based regulation, credit funds, prudential supervision, non-bank financial intermediation
Maik SchmelingWhat is Libra? Understanding Facebook´s Currency
Policy Letter No. 76
Financial Markets Policy Paper2019Libra, cryptocurrency, currency board
Stine Louise Daetz, Marti Subrahmanyam, Dragon Yongjun Tang, Sarah Qian WangCan Central Banks Boost Corporate Investment? Evidence from the ECB Liquidity Injections
Financial Markets, Macro Finance Thirdparty Related Work2019
Thomas HuertasCompleting Banking Union
White Paper No. 63
Financial Intermediation Policy Paper2019Banking Union, EDIS, EDIC
Anderson Grajales-Olarte, Burak Uras, Nathanael VellekoopRigid Wages and Contracts: Time- versus State-Dependent Wages in the Netherlands
SAFE Working Paper No. 258
Macro Finance SAFE Working Paper2019Wage rigidity, microdata, time dependency, state dependency, flexible-hour contracts
Stefano Colonnello, Giuliano Curatola, Alessandro GioffréPricing Sin Stocks: Ethical Preference vs. Risk Aversion
European Economic Review
Financial Markets Published Paper2019
Jannis Bischof, Christian Laux, Christian LeuzAccounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges
forthcoming in Journal of Financial Economics
Financial Intermediation Published Paper2022Banks, Financial crisis, Financial stability, Disclosure, Loan loss accounting, Expected credit losses, Incurred loss model, Prudential filter, Fair value accounting
Matthias GoldmannForeign Investment, Sovereign Debt, and Human Rights
Sovereign Debt and Human Rights (Oxford University Press)
Financial Intermediation Published Paper2018Foreign direct investment, regulatory power, expropriation, socio-economic rights, linkages
Burkard Eberlein, Sandra EckertPrivate Authority in Tackling Cross-border Issues. The Hidden Path of Integrating European Energy Markets
Journal of European Integration
Financial Intermediation Published Paper2020
Sandra EckertSupranational Authorities and Private Actors as Drivers of Single Market Integration? The State of the Union in Electricity and Banking
Journal of European Integration
Financial Intermediation Published Paper2022
Erik Theissen, Christian WestheideCall of Duty: Designated Market Maker Participation in Call Auctions
Journal of Financial Markets
Financial Markets Published Paper2020
Christian Schlag, Kailin ZengHorizontal Industry Relationships and Return Predictability
Journal of Empirical Finance
Financial Markets Published Paper2019Connected industries, information flow, return predictability
Darien Huang, Christian Schlag, Ivan Shaliastovich, Julian ThimmeVolatility-of-Volatility Risk
Journal of Financial and Quantitative Analysis
Financial Markets Published Paper2019
Nicole Branger, Patrick Konermann, Christian SchlagOptimists and Pessimists in (In)Complete Markets
Journal of Financial and Quantitative Analysis
Financial Markets Published Paper2020
Ludger SchuknechtFiscal-Financial Vulnerabilities
White Paper No. 62
Macro Finance Policy Paper2019fiscal financial vulnerabilities, fiscal variables, public finance
Christian Schlag, Kailin ZengHorizontal Industry Relationships and Return Predictability
SAFE Working Paper No. 256
Financial Markets SAFE Working Paper2019Connected industries, information flow, return predictability
Reinhard H. SchmidtDeutsche Bank and its Strategy Change: What it Means for the German Financial System
Policy Letter No. 75
Financial Intermediation Policy Paper2019German financial system, corporate governance, German banks
Katja LangenbucherInterdisziplinäre Forschung im Unternehmensrecht – Auf dem Weg zu einer Cognitive Corporate Governance?
Zeitschrift für Unternehmens- und Gesellschaftsrecht
Law and Finance Published Paper2019
Iñaki Aldasoro, Florian Balke, Andreas Barth, Egemen ErenSpillovers of Funding Dry-ups
SAFE Working Paper No. 259
Financial Intermediation SAFE Working Paper2019
Bertram SchefoldDer Neo-Fisher-Effekt: Die historische Alternative zur Nullzinspolitik
Policy Letter No. 74
Macro Finance Policy Paper2019Inflation, Geldpolitik, Europäische Zentralbank, Zinsen
Tina KoziolFire-Sale Externalities in the South African Banking Sector
Financial Markets Thirdparty Working Paper2019
Konstantin Bräuer, Andreas Hackethal, Tobin HanspalConsuming Dividends
SAFE Working Paper No. 280
Household Finance SAFE Working Paper2020Consumption, Stock market wealth, Dividends, Excess sensitivity, Self-control, Household finance, Retail investor
Martin GötzFinancing Conditions and Toxic Emissions
SAFE Working Paper No. 254
Law and Finance SAFE Working Paper2019
Reinhard H. SchmidtOn the Change of the German Financial System
White Paper No. 61
Financial Intermediation Policy Paper2019German financial system, corporate governance, German banks
Reinhard H. SchmidtDiversity in Finance: An Overview
White Paper No. 60
Financial Intermediation Policy Paper2019diversity, finance, banking systems, financial systems
Thomas Johann, Talis Putnins, Satchit Sagade, Christian WestheideQuasi-Dark Trading: The Effects of Banning Dark Pools in a World of Many Alternatives
SAFE Working Paper No. 253
Financial Markets SAFE Working Paper2019
Silvia Dalla Fontana, Marco Holz auf der Heide, Loriana Pelizzon, Martin ScheicherThe Anatomy of the Euro Area Interest Rate Swap Market
SAFE Working Paper No. 255
Financial Markets, Systemic Risk Lab SAFE Working Paper2019OTC derivatives, network analysis, interest rate risk, banking, risk management, hedging
Wenhui Li, Christian WildeBelief Formation and Belief Updating under Ambiguity: Evidence from Experiments
SAFE Working Paper No. 251
Financial Markets, Experiment Center SAFE Working Paper2019ambiguity, learning strategy, belief updates, non-Bayesian updates, pessimism, laboratory experiments
Volker Brühl, Jan Pieter KrahnenAn open banking platform for Germany - a future-oriented alternative to a merger of Deutsche Bank / Commerzbank
Policy Letter No. 73
Financial Intermediation Policy Paper2019Open Banking Platform Germany, Banking Union, Merger, Deutsche Bank, Commerzbank
Nicole Branger, Patrick Konermann, Christian SchlagOptimists and Pessimists in (In)Complete Markets
SAFE Working Paper No. 252
Financial Markets SAFE Working Paper2019
Puriya Abbassi, Michael SchmidtFinancial Stability Effect of Yield-Oriented Investment Behaviour
Financial Markets, Macro Finance Thirdparty Working Paper2019Portfolio allocation, fixed income, yield reversals, financial stress, financial stability
Tobias Tröger, Uwe WalzDoes Say on Pay Matter? Evidence from Germany
European Company and Financial Law Review
Law and Finance, Transparency Lab Published Paper2019Say-on-pay, corporate governance, management compensation
Sascha Baghestanian, Paul Gortner, Joël van der WeelePeer Effects and Risk Sharing in Experimental Asset Markets
European Economic Review
Household Finance, Financial Markets, Experiment Center Published Paper2019peer effects, laboratory experiments, risk taking, asset markets
Yuri Pettinicchi, Nathanael VellekoopJob Loss Expectations, Durable Consumption and Household Finances: Evidence from Linked Survey Data
SAFE Working Paper No. 249
Household Finance SAFE Working Paper2019Subjective expectations; Durable consumption; Household saving
Panagiotis Anagnostidis, Patrice Fontaine, Christos VarsakelisAre High-Frequency Traders Informed?
Economic Modelling
Systemic Risk Lab Thirdparty Related Work2020
Panagiotis Anagnostidis, Patrice FontaineLiquidity Provision, Commonality and High Frequency Trading
Systemic Risk Lab Thirdparty Working Paper2018
Margherita Borella, Mariacristina De Nardi, Fang YangThe Lost Ones: The Opportunities and Outcomes of Non-College-Educated Americans born in the 1960s
Macro Finance Thirdparty Working Paper2019
Martin Götz, Tobias Tröger, Mark WahrenburgThe Next SSM Term: Supervisory Challenges Ahead
White Paper No. 59
Financial Intermediation Policy Paper2019SSM, Banking Union, ECB supervision
Mario Bellia, Loriana Pelizzon, Marti Subrahmanyam, Jun Uno, Darya YuferovaMarket Liquidity and Competition Among Designated Market Makers
SAFE Working Paper No. 247
Financial Markets, Systemic Risk Lab SAFE Working Paper2019esignated Market Makers (DMMs), Liquidity Provision
Rainer Haselmann, Jan Pieter Krahnen, Mark WahrenburgEvaluierung gesamt- und finanzwirtschaftlicher Effekte der Reformen europäischer Finanzmarktregulierung im deutschen Finanzsektor seit der Finanzkrise
Policy Report No.2
Financial Intermediation Policy Paper2019Regulierung, Banken, Kreditinstitute
Volker Brühl, Jan Pieter KrahnenEine Open Banking Plattform für Deutschland – eine zukunftsorientierte Alternative zu einer Fusion Deutsche Bank/Commerzbank
Policy Letter No. 72
Financial Intermediation Policy Paper2019Open Banking Platform Germany, Bankenunion, Fusion, Deutsche Bank, Commerzbank
Andreas Hackethal, Steffen Meyer, Charline UhrSmoking Hot Portfolios? Overtrading from Self-Control Failure
SAFE Working Paper No. 245
Household Finance SAFE Working Paper2019self-control; portfolio allocation; individual investor; trading behavior
Tim Eisert, Christian EufingerInterbank Networks and Backdoor Bailouts: Benefiting from Other Banks’ Government Guarantees
Management Science
Law and Finance, Systemic Risk Lab Published Paper2019bailout, cycle flows, cyclical liabilities, interbank network, leverage
Mila Getmansky Sherman, Ravi Jagannathan, Loriana Pelizzon, Ernst Schaumburg, Darya YuferovaRecovery from Fast Crashes: Role of Mutual Funds
Financial Markets, Systemic Risk Lab, Data Center Thirdparty Related Work2018Liquidity Provision; Market Fragility; Flash Crash; Slow-Moving Capital
Mauro Bernardi, Michele CostolaHigh-Dimensional Sparse Financial Networks through a Regularised Regression Model
SAFE Working Paper No. 244
Systemic Risk Lab SAFE Working Paper2019VAR estimation, Financial Networks, Bayesian inference, Sparsity, Spike-and-Slab prior, Stochastic Search Variable Selection, Expectation-Maximisation
Nicole Branger, Christian Schlag, Ivan Shaliastovich, Dongho SongMacroeconomic Bond Risks and the Zero Lower Bound
Financial Markets, Macro Finance Thirdparty Related Work2016Macro-Finance Term Structure Models, Zero Lower Bound, Shadow Rates, Shadow Risk Premia
Roberto Casarin, Michele CostolaStructural Changes in Large Economic Datasets: A Nonparametric Homogeneity Test
Economics Letters
Systemic Risk Lab Published Paper2019
Massimiliano Caporin, Michele CostolaAsymmetry and Leverage in GARCH Models: A News Impact Curve Perspective
Applied Economics
Systemic Risk Lab Published Paper2019
Matthias Max Nagel, Matthias ThiemannShifting Frames of the Expert Debate: Quantitative Easing, International Macro-Finance and the Potential Impact of Post-Keynesian Scholarship
Financial Markets, Macro Finance Thirdparty Working Paper2019
Viral Acharya, Tim Eisert, Christian Eufinger, Christian HirschWhatever it Takes: The Real Effects of Unconventional Monetary Policy
Review of Financial Studies
Financial Intermediation, Data Center Published Paper2019
Zhiwu Hong, LinLin NiuAn Arbitrage-Free Yield Net Model with Application to the Euro Debt Crisis
Financial Markets, Macro Finance Thirdparty Working Paper2019
Tina Koziol, Jesper Riedler, Joeri SchasfoortEuro Area Quantitative Easing in a Portfolio Balance Model with Heterogeneous Agents and Assets
Financial Markets, Macro Finance Thirdparty Working Paper2019
LinLin NiuSparse-Group Independent Component Analysis with Application to Yield Curve Prediction
Computational Statistics & Data Analysis
Macro Finance Thirdparty Related Work2019
Christopher Busch, Alexander LudwigHigher-Order Income Risk over the Business Cycle: A Parametric Approach
SAFE Working Paper No. 274
Macro Finance SAFE Working Paper2020Labor Income Risk, Business Cycle, GMM Estimation, Skewness, Persistent and Transitory Income Shocks, Risk Attitudes, Life-Cycle Model
Ester Faia, Vincenzo PezoneThe Heterogeneous Cost of Wage Rigidity: Evidence and Theory
SAFE Working Paper No. 242
Money and Finance SAFE Working Paper2019
Alexander Bick, Bettina Brüggemann, Nicola Fuchs-Schündeln, Hannah Paule-PaludkiewiczLong-term Changes in Married Couples’ Labor Supply and Taxes: Evidence from the US and Europe Since the 1980s
Macro Finance Thirdparty Working Paper2018
Allan Davids, Co-Pierre GeorgThe Cape of Good Homes: Exchange Rate Depreciations, Foreign Demand and House Prices
Financial Markets, Macro Finance Thirdparty Working Paper2019foreign housing demand, exchange rates, house prices
Martin GötzFinancial Constraints and Corporate Environmental Responsibility
SAFE Working Paper No. 241
Law and Finance SAFE Working Paper2019
Mucai Lin, LinLin NiuEcho over the Great Wall: Spillover Effects of QE Announcements on Chinese Yield Curve
Financial Markets, Macro Finance Thirdparty Working Paper2019
Jan Pieter KrahnenTarget Balances and Financial Crises
Policy Letter No. 71
Financial Markets Policy Paper2019Target 2, payment system, central banks, Eurosystem
Viral AcharyaForeign Fund Flows and Asset Prices: Evidence from the Indian Stock Market
Financial Markets Thirdparty Related Work2016
Kunka Petkova, Alfons J. WeichenriederGrunderwerbsteuer: Eine Steuer für das 21. Jahrhundert?
White Paper No. 58
Macro Finance Policy Paper2019Grunderwerbsteuer, Reformvorschläge, Freibetrag, Steuergestaltung, Share Deals
Paul Gortner, Baptiste MassenotLeverage and Bubbles: Experimental Evidence
SAFE Working Paper No. 239
Macro Finance, Experiment Center SAFE Working Paper2018
LinLin Niu, Loriana Pelizzon, Marti Subrahmanyam, Reiko Tobe, Davide Tomio, Jun UnoScarcity and Spotlight Effects on Liquidity and Yield: Quantitative Easing in Japan
Financial Markets, Macro Finance, Systemic Risk Lab Thirdparty Working Paper2018
Holger Kraft, Claus Munk, Farina WeissPredictors and Portfolios Over the Life Cycle
Journal of Banking and Finance
Household Finance Published Paper2019Return predictability, human capital, housing, investments, welfare
Joost Driessen, Theo E. Nijman, Zorka SimonMuch Ado About Nothing: A Study of Differential Pricing and Liquidity of Short and Long Term Bonds
SAFE Working Paper No. 238
Financial Markets, Systemic Risk Lab SAFE Working Paper2018Sovereign Bonds, Term Structure of Interest Rates, Segmentation, Liquidity, Flight-to-safety, Credit Risk, Unconventional Monetary Policy
Nathanael VellekoopExplaining Intra-Monthly Consumption Patterns: The Timing of Income or the Timing of Consumption Commitments?
SAFE Working Paper No. 237
Household Finance SAFE Working Paper2018consumption, consumption commitments, paycheck frequency, liquidity
Mario Bellia, Kim Christensen, Aleksey Kolokolov, Loriana Pelizzon, Roberto RenòHigh-Frequency Trading During Flash Crashes: Walk of Fame or Hall of Shame?
SAFE Working Paper No. 270
Financial Markets, Systemic Risk Lab SAFE Working Paper2020
Julia Hirsch, Uwe WalzThe Financing Dynamics of Newly Founded Firms
Journal of Banking and Finance
Law and Finance Published Paper2019financing decisions, life-cycle, firm growth, newly founded firms
Irina Gemmo, Helmut Gründl, Martin GötzLife Insurance and Demographic Change: An Empirical Analysis of Surrender Decisions Based on Panel Data
SAFE Working Paper No. 240
Household Finance SAFE Working Paper2019
Daniel Harenberg, Alexander LudwigIdiosyncratic Risk, Aggregate Risk, and the Welfare Effects of Social Security
International Economic Review
Household Finance, Macro Finance Published Paper2019social security, idiosyncratic risk, aggregate risk, welfare
Jasmin Gider, Peter Gomber, Simon N. M. Schmickler, Christian WestheideHigh-Frequency Trading and Price Informativeness
SAFE Working Paper No. 248
Financial Markets SAFE Working Paper2019High-Frequency Trading, Price Efficiency, Information Acquisition, Information Production
Mila Getmansky Sherman, Christian Kubitza, Loriana PelizzonLoss Sharing in Central Clearinghouses: Winners and Losers
SAFE Working Paper No. 235
Systemic Risk Lab SAFE Working Paper2018Central Clearing, Counterparty Risk, Systematic Risk, OTC markets, Derivatives, Loss Sharing, Collateral, Margin
Nicoletta Berardi, Marie Lalanne, Paul SeabrightProfessional Networks and their Coevolution with Executive Careers: Evidence from Europe and North America
SAFE Working Paper No. 243
Law and Finance SAFE Working Paper2019
Alejandro Bernales, Nicolas Garrido, Satchit Sagade, Marcela Valenzuela, Christian WestheideTrader Competition in Fragmented Markets: Liquidity Supply versus Picking-off Risk
SAFE Working Paper No. 234
Financial Markets SAFE Working Paper2018Fragmentation, Competition, Liquidity, Price Efficiency
Vanya Horneff, Daniel Liebler, Raimond Maurer, Olivia S. MitchellMoney-Back Guarantees in Individual Retirement Accounts: Still a Good Deal?
SAFE Working Paper No. 263
Household Finance SAFE Working Paper2019individual retirement account, investment guarantee, longevity risk, retirement income, life cycle model
Tabea Bucher-Koenen, Andreas Hackethal, Johannes Kasinger, Christine LaudenbachWie viel Rente wirst du bekommen? – Pilotstudie zur Einführung einer Renteninformationsplattform in Deutschland
Household Finance Policy Paper2018
Holger Kraft, Farina WeissConsumption-Portfolio Choice with Preferences for Cash
Journal of Economic Dynamics and Control
Household Finance Published Paper2019consumption-portfolio choice, money in the utility function, stock demand, stochastic control
Tim Alexander Kroencke, Maik Schmeling, Andreas SchrimpfThe FOMC Risk Shift
SAFE Working Paper No. 302
Financial Markets SAFE Working Paper2021Monetary Policy Surprises; Equity Premium; Fund Flows; Portfolio Rebalanc- ing; Price Pressures
Jannic CuturaDebt Holder Monitoring and Implicit Guarantees: Did the BRRD Improve Market Discipline?
SAFE Working Paper No. 232
Financial Intermediation SAFE Working Paper2018
Benjamin Clapham, Peter Gomber, Jens Lausen, Sven PanzLiquidity Provider Incentives in Fragmented Securities Markets
SAFE Working Paper No. 231
Financial Markets SAFE Working Paper2018Liquidity, Trading Volume, Market Fragmentation, Liquidity Provider Incentives, Transaction Costs
Yalin Gündüz, Giorgio Ottonello, Loriana Pelizzon, Michael Schneider, Marti SubrahmanyamLighting up the Dark: Liquidity in the German Corporate Bond Market
SAFE Working Paper No. 230
Financial Markets, Systemic Risk Lab SAFE Working Paper2018Corporate Bonds, WpHG, Liquidity, Transparency, OTC markets
Daniel HarenbergAsset Pricing in OLG Economies With Borrowing Constraints and Idiosyncratic Income Risk
SAFE Working Paper No. 229
Macro Finance SAFE Working Paper2018equity premium; idiosyncratic risk; aggregate risk; lifecycle
Roberto PanzicaIdiosyncratic Volatility Puzzle: The Role of Assets' Interconnections
SAFE Working Paper No. 228
Financial Markets, Systemic Risk Lab SAFE Working Paper2018Idiosyncratic volatility puzzle; Networks; Expected Returns; Granger Causality
Mila Getmansky Sherman, Giulio Girardi, Stanislava Nikolova, Loriana Pelizzon, Kathleen Weiss HanleyPortfolio Similarity and Asset Liquidation in the Insurance Industry
Journal of Financial Economics
Financial Markets, Systemic Risk Lab Published Paper2021Interconnectedness, Asset Liquidation, Similarity, Financial Stability, Insurance Com- panies, SIFI
Mila Getmansky Sherman, Ravi Jagannathan, Loriana Pelizzon, Ernst Schaumburg, Darya YuferovaRecovery from Fast Crashes: Role of Mutual Funds
SAFE Working Paper No. 227
Financial Markets, Systemic Risk Lab, Data Center SAFE Working Paper2018Liquidity Provision; Market Fragility; Flash Crash; Slow-Moving Capital
Vanessa Endrejat, Matthias ThiemannReviving the Shadow Banking Chain in Europe: Regulatory Agency, Technical Complexity and the Dynamics of Co-Habitation
SAFE Working Paper No. 222
Financial Intermediation SAFE Working Paper2018
Jan Pieter KrahnenÜber Scheinriesen: Was TARGET-Salden tatsächlich bedeuten Eine finanzökonomische Überprüfung
White Paper No. 56
Financial Markets Policy Paper2018TARGET-Salden, TARGET2, europäischer Zahlungsverkehr, Zentralbankensystem, Eurosystem
Axel Börsch-Supan, Duarte Nuno Leite, Alexander LudwigEndogenous Retirement Behavior of Heterogeneous Households Under Pension Reforms
SAFE Working Paper No. 221
Macro Finance SAFE Working Paper2018Population aging, pension reform, social security, life-cycle behavior, labor supply, retirement age, welfare
Florian Hoffmann, Roman Inderst, Marcus OppOnly Time will Tell: A Theory of Deferred Compensation
SAFE Working Paper No. 218
Law and Finance SAFE Working Paper2018Compensation design, duration of pay, moral hazard, persistence, principal- agent models, informativeness principle
Andreas Hackethal, Christine Laudenbach, Steffen Meyer, Annika WeberClient Involvement in Expert Advice: Antibiotics in Finance?
SAFE Working Paper No. 219
Household Finance SAFE Working Paper2018Financial Advice, Individual Investors, Client Involvement
Florian DeuflhardQuantifying Inertia in Retail Deposit Markets
SAFE Working Paper No. 223
Household Finance SAFE Working Paper2018
Andrej Gill, Florian Hett, Johannes TischerMeasuring Time Inconsistency Using Financial Transaction Data
White Paper No. 55
Household Finance, Experiment Center Policy Paper2018financial transaction data, financial decision-making, time inconsistency, present bias
Stefano Colonnello, Giuliano Curatola, Alessandro GioffréPricing Sin Stocks: Ethical Preference vs. Risk Aversion
SAFE Working Paper No. 216
Financial Markets SAFE Working Paper2018Asset Pricing, General Equilibrium, Sin Stocks
Reint Gropp, Felix Noth, Ulrich SchüwerWhat Drives Banks' Geographic Expansion? The Role of Locally Non-Diversifiable Risk
SAFE Working Paper No. 246
Financial Intermediation SAFE Working Paper2019banking, geographic expansion, deregulation, locally non-diversiable risk, catastrophic risk
Peter Gomber, Ilya GvozdevskiyDark Trading under MiFID II
Regulation of the EU Financial Markets: MiFID II and MiFIR (Oxford University Press)
Financial Markets Published Paper2017
Loriana Pelizzon, Anjan Thakor, Calebe de RoureP2P Lenders versus Banks: Cream Skimming or Bottom Fishing?
The Review of Corporate Finance Studies
Household Finance Published Paper2022
Jaakko Aspara, Arvid Hoffmann, Joost Pennings, Simone WiesCan Advertising Investments Counter the Negative Impact of Shareholder Complaints on Firm Value?
Journal of Marketing
Household Finance Published Paper2019
Domenico Rocco Cambrea, Stefano Colonnello, Giuliano Curatola, Giulia FantiniCEO Investment of Deferred Compensation Plans and Firm Performance
Journal of Business Finance & Accounting
Law and Finance Published Paper2019Inside Debt, Executive Compensation, Corporate Distress
Stefano Colonnello, Giuliano Curatola, Alessandro GioffréPricing Sin Stocks: Ethical Preference vs. Risk Aversion
European Economic Review
Financial Markets Published Paper2019
Yangming Bao, Martin GötzLocal Peer Effects and Corporate Investment
SAFE Working Paper No. 220
Law and Finance SAFE Working Paper2018Investments, Peer Firm Effects, Agglomeration, Corporate Income Tax
Baptiste Massenot, Giang NghiemDepressed Demand
SAFE Working Paper No. 257
Macro Finance SAFE Working Paper2019
Rainer Haselmann, Mark WahrenburgHow Demanding and Consistent is the 2018 Stress Test Design in Comparison to Previous Exercises?
White Paper No. 54
Financial Intermediation Policy Paper2018stress test, European banks, Banking union,
Massimiliano Caporin, Aleksey Kolokolov, Roberto RenòSystemic Co-Jumps
Journal of Financial Economics
Financial Markets, Systemic Risk Lab Published Paper2017Jumps; Return predictability; Systemic events; Variance risk premium
Edin Ibrocevic, Matthias ThiemannAll Economic Ideas are Equal, but Some are more Equal than Others: A Differentiated Perspective on Macroprudential Ideas and their Implementation
SAFE Working Paper No. 214
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2018macroprudential regulation, ideational shift, systemic risk, topic modelling, central bank policy
Jan Friedrich, Matthias ThiemannA New Governance Architecture for European Financial Markets? Towards a European Supervision of CCPs
White Paper No. 53
Financial Intermediation Policy Paper2018Central Counterparties, European Supervisory Architecture, Capital Markets Union, regulatory arbitrage, EMIR, supervisory arbitrage, Brexit
Marcel BluhmPersistent Liquidity Shocks and Interbank Funding
Journal of Financial Stability
Financial Intermediation, Systemic Risk Lab Published Paper2018Financial fragility, Interbank market, Liquidity, Maturity, Network
Otmar IssingStabiles Geld – eine Illusion? Alternative Währungssysteme – Hayeks Fundamentalkritik – Unabhängigkeit der Notenbanken
White Paper No. 52
Macro Finance Policy Paper2018Geldpolitik, Zentralbanken, Unabhängigkeit, Währungswettbewerb, Kryptowährungen, Hayek
Aleksey Kolokolov, Giulia Livieri, Davide PirinoStatistical Inferences for Price Staleness
SAFE Working Paper No. 236
Financial Markets SAFE Working Paper2018staleness, idle time, liquidity, zero returns, stable convergence
Jan Friedrich, Christian Resch, Matthias ThiemannIf you do it, do it right – The need for a Common European Supervisory Architecture for CCPs
Policy Letter No. 70
Financial Intermediation Policy Paper2018Central Counterparties, European Supervisory Architecture, Capital Markets Union, regulatory arbitrage, EMIR, supervisory arbitrage
Jannis Bischof, Christian Laux, Christian LeuzAccounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges
SAFE Working Paper No. 283
Financial Intermediation SAFE Working Paper2020Banks, Financial crisis, Financial stability, Disclosure, Loan loss accounting, Expected credit losses, Incurred loss model, Prudential filter, Fair value accounting
Thomas MoskBargaining with a Bank
SAFE Working Paper No. 211
Financial Intermediation SAFE Working Paper2018Credit lines, Contract terms, Bargaining, Screening
Darien Huang, Christian Schlag, Ivan Shaliastovich, Julian ThimmeVolatility-of-Volatility Risk
SAFE Working Paper No. 210
Financial Markets SAFE Working Paper2018volatility of volatility, hedging errors, risk premiums
Claudia Lambert, Felix Noth, Ulrich SchüwerHow Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina
Review of Finance
Financial Intermediation Published Paper2019catastrophic events, bank regulation, capital ratios, natural experiment
Jan Friedrich, Matthias ThiemannDrawing the Line: The Political Economy of Off-Balance Sheet-Financing
Financial Intermediation Published Paper2016
Zsuzsa R. Huszar, Zorka SimonThe Pricing Implications of Oligopolistic Securities Lending Market: A Beneficial Owner Perspective
SAFE Working Paper No. 215
Systemic Risk Lab SAFE Working Paper2018
Eren Gürer, Alfons J. WeichenriederPro-rich Inflation in Europe: Implications for the Measurement of Inequality
SAFE Working Paper No. 209
Macro Finance SAFE Working Paper2018Inequality, Gini, EU countries, income dependent inflation
Fabian OchsenfeldThe Relational Nature of Employment Dualization: Evidence from Subcontracting Establishments
European Sociological Review
Law and Finance Published Paper2018
Vasso Ioannidou, Jose Liberti, Thomas Mosk, Jason SturgessIntended and Unintended Consequences of Government Credit Guarantee Programs
Finance and Investment: The European Case (Oxford University Press)
Financial Intermediation Published Paper2018
Nikolaus Fink, Philipp Schmidt-Dengler, Konrad Stahl, Christine ZulehnerRegistered Cartels in Austria: An Overview
European Journal of Law and Economics
Law and Finance Published Paper2017Collusion, Cartels, Legal cartels, Contracts
Klaus Gugler, Michael Weichselbaumer, Christine ZulehnerEffects of Government Spending on Employment: Evidence from Winners and Runners-up in Procurement Auctions
SAFE Working Paper No. 213
Macro Finance SAFE Working Paper2018labor demand, labor hoarding, construction procurement, first-price auctions, recent economic crisis, regression discontinuity design
Helmut Elsinger, Philipp Schmidt-Dengler, Christine ZulehnerCompetition in Treasury Auctions
American Economic Journal: Microeconomics
Law and Finance Published Paper2019treasury auctions, multi-unit auctions, independent private values, competition, bidder surplus, auction format
Michael Donadelli, Antonio Paradiso, Max RiedelA Quasi Real-Time Leading Indicator for the EU Industrial Production
The Manchester School
Financial Markets Published Paper2019Leading indicator, EU industrial production, Granger causality, Turning points, Forward-looking Taylor rule
Jan Friedrich, Matthias ThiemannWhy the Initial Regulation of Financial Innovations is Decisive − Regulatory Arbitrage and Off-Balance-Sheet Leasing in Germany
Policy Letter No. 69
Financial Markets Policy Paper2018financial innovations, regulation, regulatory arbitrage, leasing
Claes Bäckman, Tobin HanspalParticipation and Losses in Multi-Level Marketing: Evidence from an FTC Settlement
SAFE Working Paper No. 207
Household Finance SAFE Working Paper2018Intermediated work; Multi-level marketing; Gig-economy; Entrepreneurship; Con- sumer financial protection
Reint Gropp, Thomas Mosk, Steven Ongena, Carlo WixBank Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment
Review of Financial Studies
Financial Intermediation Published Paper2019Bank capital ratios, Bank regulation, Credit supply
Michael Brennan, Holger KraftLeaning Against the Wind: Debt Financing in the Face of Adversity
Financial Management
Financial Markets Published Paper2018Capital structure, financing policy, managerial incentives
Horst Entorf, Jia HouFinancial Education for the Disadvantaged? A Review
SAFE Working Paper No. 205
Household Finance SAFE Working Paper2018Education, Financial Literacy, Inequality, Program Evaluation
Tobias TrögerToo Complex to Work – A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime
Journal of Financial Regulation
Financial Intermediation Published Paper2018
Massimiliano Caporin, Loriana Pelizzon, Francesco Ravazzolo, Roberto RigobonMeasuring Sovereign Contagion in Europe
Journal of Financial Stability
Financial Markets, Systemic Risk Lab Published Paper2018
Stephanie Collet, Kim OosterlinckLe Concept de Dettes Odieuses
Revue d´économie Financière
Data Center Published Paper2019
Florian Hett, Felix SchmidtPushing Through or Slacking Off? Heterogeneity in the Reaction to Rank Feedback
SAFE Working Paper No. 203
Household Finance, Experiment Center SAFE Working Paper2018heterogeneity, competitiveness; contest; rank feedback, relative performance evaluation
Stephanie Collet, Kim OosterlinckDenouncing Odious Debts
Journal of Business Ethics
Financial Markets, Data Center Published Paper2018 Ethics, Odious debt, Repudiation, Financial history, Sovereign debt, Russia
Nicole Branger, Paulo Rodrigues, Christian SchlagLevel and Slope of Volatility Smiles in Long-Run Risk Models
SAFE Working Paper No. 186
Financial Markets, Systemic Risk Lab SAFE Working Paper2017Asset pricing, Epstein-Zin preferences, jump risk, stochastic volatility, level and slope of implied volatility smile
Matthias Goldmann, Grygoriy PustovitGoverning Cryptocurrencies through Forward Guidance?
Policy Letter No. 68
Financial Markets Policy Paper2018cryptocurrencies, blockchain, distributed ledger technology, regulation, forward guidance
Tobias TrögerGermany's Reluctance to Regulate Related Party Transactions
SAFE Working Paper No. 202
Law and Finance SAFE Working Paper2018related party transactions, Germany Inc., industrial organization, tunneling, private benefits of control, capital maintenance, group law
Dirk Krueger, Alexander LudwigOptimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk
SAFE Working Paper No. 201
Macro Finance SAFE Working Paper2018Idiosyncratic Risk, Taxation of Capital, Overlapping Generations, Precautionary Saving, Pecuniary Externality
Nils Grevenbrock, Max Groneck, Alexander Ludwig, Alexander ZimperCognition, Optimism and the Formation of Age-Dependent Survival Beliefs
SAFE Working Paper No. 200
Macro Finance SAFE Working Paper2018Subjective Survival Beliefs, Probability Weighting Function, Conrmatory Bias, Cognition, Optimism, Pessimism
Massimiliano Caporin, Luca Corazzini, Michele CostolaMeasuring the Behavioural Component of the S&P 500 and its Relationship to Financial Stress and Aggregated Earnings Surprises
British Journal of Management
Financial Markets, Systemic Risk Lab Published Paper2019
Tobias TrögerRegulation of Crowdfunding in Germany
SAFE Working Paper No. 199
Law and Finance SAFE Working Paper2018crowdfunding, crowdsponsoring, crowdlending, crowdinvesting, contract law, conflict of laws, banking regulation, securities regulation
Benjamin Clapham, Peter Gomber, Martin Haferkorn, Paul Jentsch, Sven PanzCircuit Breakers – A Survey among International Trading Venues
SAFE Working Paper No. 197
Financial Markets SAFE Working Paper2018
Johannes Kasinger, Loriana PelizzonFinancial Stability in the EU: A Case for Micro Data Transparency
Policy Letter No. 67
Financial Markets, Systemic Risk Lab Policy Paper2018micro data transparency, financial stability, financial market data
Brigitte HaarToo-big-to-fail im Spannungsfeld von Wettbewerb und Regulierung
Festschrift für Theodor Baums zum siebzigsten Geburtstag (Mohr Siebeck)
Financial Intermediation Published Paper2017
Reinhard H. SchmidtPasst das deutsche Dreisäulensystem in eine zunehmend harmonisierte Bankenstruktur für Europa?
Policy Letter No. 65
Financial Intermediation Policy Paper2018Drei-Säulen-System, Bankensektor, Finanzkrise
Martin HaferkornHigh-Frequency Trading and its Role in Fragmented Markets
Journal of Information Technology
Financial Markets Published Paper2017Eelectronic market hypothesis, High-frequency trading, Market efficiency, Regulation, Securities trading
Markus GanglLohnbildung und Lohnverteilung
Arbeitsmarktsoziologie: Probleme, Theorien, empirische Befunde (Springer)
Law and Finance Published Paper2018
Iñaki Aldasoro, Domenico Delli Gatti, Ester FaiaBank Networks: Contagion, Systemic Risk and Prudential Policy
Journal of Economic Behavior and Organization
Macro Finance Published Paper2017Banking networks; Systemic risk; Contagion, Fire sales, Prudential regulation
Iñaki Aldasoro, Ester FaiaSystemic Loops and Liquidity Regulation
Journal of Financial Stability
Macro Finance Published Paper2016Bank runs, Liquidity scarcity, Interconnections, Contagion, Phase-in
Baptiste MassenotPain of Paying in a Business Cycle Model
SAFE Working Paper No. 194
Macro Finance SAFE Working Paper2018
Otmar IssingDeutschland und Europa
Policy Letter No. 66
Macro Finance Policy Paper2018Europäische Währungsunion, Fiskalunion, ESM, Europäischer Währungsfonds
Mario Bellia, Giulio Girardi, Roberto Panzica, Loriana Pelizzon, Tuomas A. PeltonenThe Demand for Central Clearing: To Clear or Not to Clear, That is the Question
SAFE Working Paper No. 193
Systemic Risk Lab SAFE Working Paper2018Credit Default Swap (CDS), Central Counterparty Clearing House (CCP), European Market Infrastructure Regulation (EMIR), Sovereign
Steffen Andersen, Tobin Hanspal, Kasper Meisner NielsenOnce Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking
Journal of Financial Economics
Household Finance Published Paper2019Experiences, Risk taking, Financial crisis, Household finance
Patrick GrüningHeterogeneity in the Internationalization of R&D: Implications for Anomalies in Finance and Macroeconomics
Finance Research Letters
Financial Markets Published Paper2018Heterogeneous innovation; Technology spillover; Endogenous growth; Creative destruction; International finance
Massimiliano Caporin, Michele Costola, Gregory Jannin, Bertrand B. MailletOn the (Ab)use of Omega?
Journal of Empirical Finance
Systemic Risk Lab Published Paper2018Performance measure Omega Return distribution Risk Stochastic dominance
Benjamin Clapham, Peter Gomber, Martin Haferkorn, Paul Jentsch, Sven PanzEnsuring Market Integrity and Stability: Circuit Breakers on International Trading Venues
Journal of Trading
Financial Markets Published Paper2017
Loriana Pelizzon, Anjan Thakor, Calebe de RoureP2P Lending versus Banks: Cream Skimming or Bottom Fishing?
SAFE Working Paper No. 206
Household Finance, Systemic Risk Lab SAFE Working Paper2018
Loriana Pelizzon, Matteo SottocornolaThe Impact of Monetary Policy Interventions on the Insurance Industry
SAFE Working Paper No. 204
Financial Markets, Macro Finance, Systemic Risk Lab SAFE Working Paper2018Event study, monetary policy surprise, unconventional monetary policy, conventional monetary policy, insurance industry
Alfons J. WeichenriederDigitalization and Taxation: Beware Ad hoc Measures
Policy Letter No. 64
Macro Finance Policy Paper2018Digitalization, taxation
Matthias GoldmannMonetary Policy and Prudential Supervision – From Functional Separation to a Holistic Approach?
Policy Letter No. 63
Macro Finance Policy Paper2018Monetary policy, financial stability, financial supervision
Fabrizio Lillo, Loriana Pelizzon, Michael SchneiderModelling Illiquidity Spillovers with Hawkes Processes: An Application to the Sovereign Bond Market
Quantitative Finance
Financial Markets, Systemic Risk Lab Published Paper2018Liquidity, Jump detection, Hawkes processes, Government bonds, MTS bond market
Nathanael Vellekoop, Mirko WiederholtInflation Expectations and Choices of Households
SAFE Working Paper No. 250
Household Finance SAFE Working Paper2019
Luca Enriques, Tobias TrögerThe Law and Finance of Related Party Transactions
Cambridge University Press
Law and Finance Published Paper2019
Vincenzo PezoneThe Real Effects of Judicial Enforcement
SAFE Working Paper No. 192
Law and Finance SAFE Working Paper2018
Julia Hirsch, Uwe WalzFinancial Constraints, Newly Founded Firms and the Financial Crisis
SAFE Working Paper No. 191
Law and Finance SAFE Working Paper2017financial constraints, financial crisis, financing decisions, investment decisions, newly founded firms
Martin Götz, Jan Pieter Krahnen, Tobias TrögerFive Years after the Liikanen Report: What Have We Learned?
White Paper No. 50
Financial Intermediation Policy Paper2017Financial stability, banking separation, prohibition of proprietary trading, banking and treasury functions, bail-in, MREL, TLAC
Monica Billio, Michele Costola, Roberto Panzica, Loriana PelizzonSystemic Risk and Financial Interconnectedness: Network Measures and the Impact of the Indirect Effect
Systemic Risk Tomography: Signals, Measurement and Transmission Channels (ISTE Press - Elsevier)
Financial Intermediation, Systemic Risk Lab Published Paper2016systemic 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
Elia Berdin, Matteo SottocornolaSystemic Risk in Insurance: Towards a new Approach
Policy Letter No. 62
Financial Markets Policy Paper2017systemic risk, macroprudential franework, insurance, financial stability
Mark WahrenburgProvisioning Policies for Non-Performing Loans: How to Best Ensure a "Clean Balance Sheet"?
White Paper No. 51
Financial Intermediation Policy Paper2017IFRS 9, provisioning rules, EU banks
Vanya Horneff, Raimond Maurer, Olivia S. MitchellHow Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior
SAFE Working Paper No. 190
Household Finance SAFE Working Paper2017dynamic portfolio choice; 401(k) plan; saving; Social Security claiming age; retirement income; minimum distribution requirements; tax
Carlo WixThe Long-Run Real Effects of Banking Crises: Firm-Level Investment Dynamics and the Role of Wage Rigidity
SAFE Working Paper No. 189
Financial Intermediation SAFE Working Paper2017Financial Crises, Bank Lending, Real Effects, Firm Investment, Wage Rigidity, Labor Hoarding
Michael Donadelli, Patrick Grüning, Marcus Jüppner, Renatas KizysGlobal Temperature, R&D Expenditure, and Growth
SAFE Working Paper No. 188
Financial Markets SAFE Working Paper2017Global Temperature, R&D, Welfare Costs
Kunka Petkova, Alfons J. WeichenriederReformpläne bei der Grunderwerbsteuer
Policy Letter No. 61
Macro Finance Policy Paper2017Grunderwerbsteuer, Reformvorschläge, Freibetrag, Steuergestaltung, Share Deals
Baptiste Massenot, Yuri PettinicchiCan Firms See into the Future? Survey Evidence from Germany
SAFE Working Paper No. 187
Macro Finance SAFE Working Paper2017Expectation formation; Expectation error; Learning; Extrapolation; Experience
Mila Getmansky Sherman, Giulio Girardi, Stanislava Nikolova, Loriana Pelizzon, Kathleen Weiss HanleyPortfolio Similarity and Asset Liquidation in the Insurance Industry
SAFE Working Paper No. 224
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2018Interconnectedness, Asset Liquidation, Similarity, Financial Stability, Insurance Com- panies, SIFI
Baptiste Massenot, Yuri PettinicchiCan Households See into the Future? Survey Evidence from the Netherlands
SAFE Working Paper No. 233
Macro Finance SAFE Working Paper2018
Maddalena Davoli, Jia HouFinancial Literacy and Socialist Education: Lessons from the German Reunification
SAFE Working Paper No. 217
Household Finance SAFE Working Paper2018 financial literacy determinants, socialist education, German reunification, DiD
Jens Gal, Helmut GründlThe Recalibration of the European System of Financial Supervision in Regard of the Insurance Sector: From Dreary to Dreamy or Vice Versa?
Policy Letter No. 60
Financial Intermediation, Household Finance Policy Paper2017European Insurance Union, European Supervisory Authorities, EIOPA, European Insurance and Occupational Pensions Authority, Insurance Supervision
Nicole Branger, Paulo Rodrigues, Christian SchlagLevel and Slope of Volatility Smiles in Long-Run Risk Models
Journal of Economic Dynamics and Control
Financial Markets, Systemic Risk Lab Published Paper2018Asset pricing, Epstein-Zin preferences, jump risk, stochastic volatility, level and slope of implied volatility smile
Juan Pablo Bohoslavsky, Matthias GoldmannSovereign Debt Sustainability as a Principle of Public International Law: An Incremental Approach to Sovereign Debt Restructuring
Yale Journal of International Law
Financial Intermediation Published Paper2016sovereign debt restructuring, international law, collective action clauses, debt sustainability, legal principles, holdout creditors, holdout litigation
Matthias Goldmann, Silvia SteiningerA Discourse Theoretical Approach to Sovereign Debt Restructuring: Towards a Democratic Financial Order
German Law Journal
Financial Intermediation Published Paper2016democracy, finance, role of law, discourse theory, Habermas, sovereign debt, cleavages
Matthias Goldmann, Ingo Venzke, Armin von BogdandyFrom Public International to International Public Law: Translating World Public Opinion into International Public Authority
European Journal of International Law
Financial Intermediation Published Paper2017international organizations, global governance, world public opinion, public authority, soft law
Matthias GoldmannInternational Investment Law and Financial Regulation: Towards a Deliberative Approach
International Investment Law and the Global Financial Architecture (Edward Elgar)
Financial Intermediation Published Paper2017international investment law, financial regulation, deliberation, monetary policy, sovereign debt
Patrick GrüningHeterogeneity in the Internationalization of R&D: Implications for Anomalies in Finance and Macroeconomics
SAFE Working Paper No. 185
Financial Markets SAFE Working Paper2017Heterogeneous innovation, Technology spillover, Endogenous growth, Creative destruction, International finance
Tobias TrögerRemarks on the German Regulation of Crowdfunding
SAFE Working Paper No. 184
Financial Intermediation SAFE Working Paper2017crowdinvesting, crowdfunding, fintech, financial stability, market infrastructure, investor protection
Florian Hett, Johannes KasingerUndermined Market Discipline: The Role of Bank Rescues and Bailout Expectations
Policy Letter No. 59
Financial Intermediation, Experiment Center Policy Paper2017bailout, market discipline, financial institutions, financial crisis, banks
Fabian OchsenfeldMercantilist Dualization: The Introduction of the Euro, Redistribution of Industry Rents, and Wage Inequality in Germany, 1993–2008
Socio-Economic Review
Macro Finance Published Paper2018distribution, manufacturing, causal mechanisms, political economy, Germany, Europe
Katja Langenbucher, Lara Milione, Andreas Roth, Tobias TrögerEU Mapping 2017: Systematic Overview on Economic and Financial Legislation
White Paper No. 49
Law and Finance Policy Paper2017EU economic and financial services legislation
Joost Driessen, Theo E. Nijman, Zorka SimonThe Missing Piece of the Puzzle: Liquidity Premiums in Inflation-Indexed Markets
SAFE Working Paper No. 183
Financial Markets SAFE Working Paper2017Liquidity premium, liquidity risk, TIPS, inflation swaps, TIPS–Treasury puzzle
Benjamin Clapham, Peter Gomber, Sven PanzCoordination of Circuit Breakers? Volume Migration and Volatility Spillover in Fragmented Markets
SAFE Working Paper No. 196
Financial Markets SAFE Working Paper2018Circuit Breaker, Volatility Interruption, Market Fragmentation, High-Frequency Trading, Stock Market, Regulation, Liquidity
Benjamin Clapham, Peter Gomber, Martin Haferkorn, Sven PanzManaging Excess Volatility: Design and Effectiveness of Circuit Breakers
SAFE Working Paper No. 195
Financial Markets SAFE Working Paper2018Circuit Breaker, Volatility Interruption, Volatility, Liquidity, Market Design
Alexander Bick, Nicola Fuchs-SchündelnQuantifying the Disincentive Effects of Joint Taxation on Married Women’s Labor Supply
American Economic Review: Papers & Proceedings
Macro Finance Published Paper2017Tax Law, Fiscal Policies, Behavior of Economic Agents, Household
Mario Bellia, Loriana Pelizzon, Marti Subrahmanyam, Jun Uno, Darya YuferovaComing Early to the Party
SAFE Working Paper No. 182
Financial Markets, Systemic Risk Lab SAFE Working Paper2017High-Frequency Traders (HFTs), Proprietary Trading, Opening Auction, Liquidity Provision, Price Discovery
Henning Hesse, Boris Hofmann, James WeberThe Macroeconomic Effects of Asset Purchases Revisited
SAFE Working Paper No. 198
Macro Finance SAFE Working Paper2018unconventional monetary policy, asset purchases, monetary transmission
Henning HesseIncentive Effects from Write-down CoCo Bonds: An Empirical Analysis
SAFE Working Paper No. 212
Macro Finance SAFE Working Paper2018CoCo bonds, contingent capital, endogenous risk, capital structure, incentives, monitoring
Jan Friedrich, Matthias ThiemannMuch Ado about Nothing? Macro-Prudential Ideas and the Post-Crisis Regulation of Shadow Banking
Kölner Zeitschrift für Soziologie und Sozialpsychologie
Financial Intermediation Published Paper2018financial regulation, shadow banking, epistemic authority, private risk-management
Jan Friedrich, Matthias ThiemannCapital Markets Union: The Need for Common Laws and Common Supervision
DIW-Vierteljahreshefte zur Wirtschaftsforschung
Financial Intermediation Published Paper2017Capital Markets Union, clearing, regulatory competition, regulatory arbitrage, supervision
Roberto Casarin, Michele Costola, Erdem YenerdagFinancial Bridges and Network Communities
SAFE Working Paper No. 208
Systemic Risk Lab SAFE Working Paper2018Systemic Risk; Financial Institutions; Network Communities; Financial Crises
Loriana Pelizzon, Marti Subrahmanyam, Davide Tomio, Jun UnoCentral Bank-Driven Mispricing
SAFE Working Paper No. 226
Financial Markets, Macro Finance, Systemic Risk Lab SAFE Working Paper2018Central Bank Interventions, Liquidity, Sovereign Bonds, Futures Contracts, Arbitrage
Viral Acharya, Diane Pierret, Sascha SteffenLender of Last Resort, Buyer of Last Resort, and a Fear of Fire Sales in the Sovereign Bond Market
Financial Markets, Macro Finance Thirdparty Working Paper2018
Holger Kraft, Claus Munk, Sebastian WagnerHousing Habits and Their Implications for Life-Cycle Consumption and Investment
Review of Finance
Household Finance Published Paper2018Habit formation, life-cycle household decisions, housing expenditure share, consumption hump, stock market participation, renting vs. owning home, human capital
Monica Billio, Massimiliano Caporin, Lorenzo Frattarolo, Loriana PelizzonNetworks in Risk Spillovers: A Multivariate GARCH Perspective
SAFE Working Paper No. 225
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2018spatial GARCH; network; risk spillover; nancial spillover
Holger Kraft, Farina WeissConsumption-Portfolio Choice with Preferences for Cash
SAFE Working Paper No. 181
Household Finance SAFE Working Paper2018consumption-portfolio choice, money in the utility function, stock demand, stochastic control
Hans-Helmut Kotz, Reinhard H. SchmidtCorporate Governance of Banks – A German Alternative to the “Standard Model”
White Paper No. 45
Financial Intermediation Policy Paper2017corporate governance, German banks, German banking system
Reinhard H. SchmidtMicrofinance – Once and Today
White Paper No. 48
Financial Intermediation Policy Paper2017Microfinance, German savings banks, German cooperative banks, Inclusive Finance
Tobias TrögerWhy MREL Won't Help Much
SAFE Working Paper No. 180
Financial Intermediation SAFE Working Paper2017MREL, TLAC, G-SIB, bail-in, bank resolution
Tobias TrögerToo Complex to Work - A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime
SAFE Working Paper No. 179
Financial Intermediation SAFE Working Paper2017bail-in, private sector involvement, precautionary recapitalization, cross-border insolvency, market discipline
Matthias GoldmannKarlsruhe Refers the QE Case to Luxembourg: Summer of Love
Policy Letter No. 58
Macro Finance Policy Paper2017ECB, Quantitative Easing, OMT, Monetary Policy, ECJ, BVerfG
Matthias GoldmannUnited in Diversity? The Relationship between Monetary Policy and Banking Supervision in the Banking Union
SAFE Working Paper No. 178
Financial Intermediation, Macro Finance SAFE Working Paper2018Banking Union, Monetary Policy, Financial Stability, Single Supervisory Mechanism, Democratic Legitimacy
Michael Donadelli, Marcus Jüppner, Max Riedel, Christian SchlagTemperature Shocks and Welfare Costs
Journal of Economic Dynamics and Control
Financial Markets Published Paper2017Temperature shocks, long-run growth, asset prices, welfare costs, adaptation
Michael Donadelli, Marcus Jüppner, Max Riedel, Christian SchlagTemperature Shocks and Welfare Costs
SAFE Working Paper No. 177
Financial Markets SAFE Working Paper2017Temperature shocks, long-run growth, asset prices, welfare costs, adaptation
Giuliano Curatola, Ilya DergunovInternational Capital Markets with Time-Varying Preferences
SAFE Working Paper No. 176
Household Finance, Financial Markets SAFE Working Paper2017Asset pricing, general equilibrium, heterogeneous agents, interdependent preferences, portfolio choice
Reint Gropp, Deyan RadevInternational Banking Conglomerates and the Transmission of Lending Shocks Across Borders
SAFE Working Paper No. 175
Financial Intermediation SAFE Working Paper2017Commercial banks, global banks, wholesale shocks, solvency shocks, transmission, internal capital markets
Reint Gropp, Deyan RadevSocial Centralization, Bank Integration and the Transmission of Lending Shocks
SAFE Working Paper No. 174
Financial Intermediation SAFE Working Paper2017Global banks, social centralization, bank integration, shocks, transmission
Holger Kraft, Eduardo S. Schwartz, Farina WeissGrowth Options and Firm Valuation
European Financial Management
Financial Markets Published Paper2018Firm valuation, Real options, Volatility, R&D expenses
Martin GötzCompetition and Bank Stability
Journal of Financial Intermediation
Financial Intermediation Published Paper2018Risk, Stability, Competition, Contestability, Entry, Lending
Christel Merlin Kuate Kamga, Christian WildeLiquidity Premia in CDS Markets
SAFE Working Paper No. 173
Financial Intermediation, Financial Markets SAFE Working Paper2017CDS, liquidity
Raimond Maurer, Olivia S. MitchellIncentivizing Older People to Delay Social Security Claiming
Policy Letter No. 57
Household Finance Policy Paper2017pensions, German retirement system, social security claiming
Tobias TrögerHow Not To Do Banking Law in the 21st Century
Policy Letter No. 56
Financial Intermediation Policy Paper2017Banking Union, ECB, EGC, Landeskreditbank Baden-Württemberg, NCAs, SSM
Giuliano CuratolaPortfolio Choice and Asset Prices when Preferences are Interdependent
Journal of Economic Behavior & Organization
Macro Finance Published Paper2017Asset pricing; General equilibrium; heterogeneous investors; interdependent preferences; portfolio choice
Massimiliano Caporin, Michele Costola, Shawkat Hammoudeh, Ahmed KhalifaSystemic Risk for Financial Institutions of Major Petroleum-Based Economies: The Role of Oil
SAFE Working Paper No. 172
Financial Intermediation, Financial Markets, Systemic Risk Lab SAFE Working Paper2017Systemic Risk, Risk Measurement, VaR, ΔCoVaR, Oil, Financial Institutions, Petroleum-based Economies
Andreas Hubener, Raimond Maurer, Olivia S. MitchellHow Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios
Review of Financial Studies
Household Finance Published Paper2016
Giuliano CuratolaOptimal Portfolio Choice with Loss Aversion Over Consumption
Quarterly Review of Economics and Finance
Financial Markets Published Paper2017Loss-aversion, Habit-formation, Consumption–portfolio choice
Stefano Colonnello, Giuliano Curatola, Ngoc Giang HoangDirect and Indirect Risk-Taking Incentives of Inside Debt
Journal of Corporate Finance
Law and Finance Published Paper2017Inside Debt, Credit Spreads, Risk-Taking
Jan Pieter Krahnen, Felix Noth, Ulrich SchüwerStructural Reforms in Banking: The Role of Trading
Journal of Financial Regulation
Financial Intermediation Published Paper2017banking, structural reforms, prohibition of proprietary trading, banking separation
Michael Donadelli, Patrick GrüningInnovation Dynamics and Fiscal Policy: Implications for Growth, Asset Prices, and Welfare
SAFE Working Paper No. 171
Financial Markets SAFE Working Paper2017Endogenous growth, Asset pricing, Government, Fiscal policy, Heterogeneous innovation
Raimond Maurer, Olivia S. MitchellOlder People’s Willingness to Delay Social Security Claiming
SAFE Working Paper No. 170
Household Finance SAFE Working Paper2016
Max Groneck, Alexander Ludwig, Alexander ZimperWho Saves More, the Naive or the Sophisticated Agent?
SAFE Working Paper No. 169
Household Finance, Macro Finance SAFE Working Paper2017Survival beliefs; Ambiguity; Choquet expected utility; Dynamic inconsistency
Martin Götz, Tobias TrögerFines for Misconduct in the Banking Sector – What is the Situation in the EU?
White Paper No. 47
Financial Intermediation Policy Paper2017financial stability, banking supervision, banking regulation, bank sanctions, monetary penalties
Guido Friebel, Marie Lalanne, Bernard Richter, Peter Schwardmann, Paul SeabrightWomen Form Social Networks More Selectively and Less Opportunistically Than Men
SAFE Working Paper No. 168
Law and Finance, Transparency Lab SAFE Working Paper2017Social Networks, Gender Differences, Trust Game
Patrick GrüningInternational Endogenous Growth, Macro Anomalies, and Asset Prices
Journal of Economic Dynamics and Control
Financial Markets Published Paper2017Innovation, Technology spillover, Endogenous growth, Long-run risk, International finance
Gabriele Camera, Alessandro GioffréAsymmetric Social Norms
Economics Letters
Money and Finance Published Paper2017cooperation, repeated games, social dilemmas
Franklin Allen, Jan Pieter Krahnen, Holger Lüthen, Hélène ReyFinancial Resilience Revisited: Why Consistency in Regulation is now Paramount – Across Sectors and Regions, and Over Time
Policy Letter No. 55
Financial Intermediation, Financial Markets Policy Paper2017financial resilience, financial markets regulation, banking regulation
Felix Noth, Ulrich SchüwerNatural Disaster and Bank Stability: Evidence from the U.S. Financial System
SAFE Working Paper No. 167
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2017natural disasters, bank stability, non-performing assets, bank performance
Martin Götz, Jan Pieter Krahnen, Tobias TrögerTaking Bail-in Seriously - The Looming Risks for Banking Policy in the Rescue of Monte dei Paschi di Siena
Policy Letter No. 54
Financial Intermediation Policy Paper2017BRRD, banking resolution, banking supervision, SRM, financial stability, systemic risk
Monica Billio, Massimiliano Caporin, Roberto Panzica, Loriana PelizzonThe Impact of Network Connectivity on Factor Exposures, Asset Pricing and Portfolio Diversification
SAFE Working Paper No. 166
Financial Markets, Systemic Risk Lab SAFE Working Paper2016CAPM, volatility, network, interconnections, systematic risk
Rainer Haselmann, David Schoenherr, Vikrant VigRent-Seeking in Elite Networks
Journal of Political Economy
Financial Intermediation, Law and Finance Published Paper2018-
Jan Pieter Krahnen, Christian WildeSkin-in-the-Game in ABS Transactions: A Critical Review of Policy Options
White Paper No. 46
Financial Markets Policy Paper2017Structured finance, ABS, STS (simple, transparent, and standardized securitizations), regulation, retention, Dodd-Frank Act
Giovanni Bonaccolto, Massimiliano Caporin, Roberto PanzicaEstimation and Model-Based Combination of Causality Networks
SAFE Working Paper No. 165
Financial Markets SAFE Working Paper2017Granger causality, quantile causality, multi-layer network, network combination
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana SchimetschekOptimal Social Security Claiming Behavior under Lump Sum Incentives: Theory and Evidence
SAFE Working Paper No. 164
Household Finance SAFE Working Paper2017Annuity, delayed retirement, lifetime income, pension, early retirement, Social Security
Monica Billio, Loriana PelizzonSystemic Risk Tomography
Systemic Risk Tomography: Signals, Measurement and Transmission Channels (ISTE Press - Elsevier)
Systemic Risk Lab Published Paper2016
Gabriele Camera, Alessandro GioffréAsymmetric Social Norms
SAFE Working Paper No. 162
Money and Finance SAFE Working Paper2017cooperation, repeated games, social dilemmas
Giuliano Curatola, Michael Donadelli, Patrick GrüningTechnology Trade with Asymmetric Tax Regimes and Heterogeneous Labor Markets: Implications for Macro Quantities and Asset Prices
SAFE Working Paper No. 163
Financial Markets SAFE Working Paper2017Technology Adoption, R&D Investment, Asymmetric Tax Regimes, Asset Prices
Michael Donadelli, Renatas Kizys, Max RiedelDangerous Infectious Diseases: Bad News for Main Street, Good News for Wall Street?
Journal of Financial Markets
Financial Markets Published Paper2017WHO alerts, investor sentiment, pharmaceutical industry, trading strategies
Günter Franke, Jan Pieter KrahnenSME Funding Without Banks? On the Interplay of Banks and Markets
White Paper No. 44
Financial Intermediation, Financial Markets Policy Paper2017SME, funding, capital markets, lending instruments, banks
Martin Götz, Luc Laeven, Ross LevineIdentifying the Valuation Effects and Agency Costs of Corporate Diversification: Evidence from the Geographic Diversification of US Banks
Review of Financial Studies
Financial Intermediation Published Paper2013
Tobin HanspalThe Effect of Personal Financing Disruptions on Entrepreneurship
SAFE Working Paper No. 161
Law and Finance, Household Finance SAFE Working Paper2016Entrepreneurship; Small business; Personal finance; Financial crisis; Bank defaults
Domenico Rocco Cambrea, Stefano Colonnello, Giuliano Curatola, Giulia FantiniCEO Investment of Deferred Compensation Plans and Firm Performance
SAFE Working Paper No. 160
Law and Finance SAFE Working Paper2016Inside Debt, Executive Compensation, Corporate Distress
Brigitte Haar"Comply or Explain" im Spannungsfeld von Law and Finance
100 Jahre Rechtswissenschaft in Frankfurt (Vittorio Klostermann)
Law and Finance Published Paper2014
Monica Billio, Michael Donadelli, Antonio Paradiso, Max RiedelWhich Market Integration Measure?
Journal of Banking and Finance
Financial Markets Published Paper2016Equity market integration, dynamic correlation, principal components, international diversification benefits
Monica Billio, Michael Donadelli, Antonio Paradiso, Max RiedelWhich Market Integration Measure?
SAFE Working Paper No. 159
Financial Markets SAFE Working Paper2016Equity market integration, dynamic correlation, principal components, international diversification benefits
Michael Donadelli, Renatas Kizys, Max RiedelGlobally Dangerous Diseases: Bad News for Main Street, Good News for Wall Street?
SAFE Working Paper No. 158
Financial Markets SAFE Working Paper2016WHO alerts, investor sentiment, pharmaceutical industry, trading strategies
Sophie Ahlswede, Steffen Meyer, Linda UrbanDoes feedback on personal investment success help?
SAFE Working Paper No. 157
Household Finance SAFE Working Paper2016household finance, field study, individual investors, reporting, investment mistakes, regulation
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana SchimetschekWill They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum
Journal of Risk and Insurance
Household Finance Published Paper2018Annuity, lump sum, Social Security, delayed retirement, lifetime income, pension
Reint Gropp, Thomas Mosk, Steven Ongena, Carlo WixBank Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment
SAFE Working Paper No. 156
Financial Intermediation SAFE Working Paper2016Bank capital ratios, Bank regulation, Credit supply
Vahid SaadiMortgage Supply and the US Housing Boom: The Role of the Community Reinvestment Act
SAFE Working Paper No. 155
Financial Intermediation SAFE Working Paper2016The Community Reinvestment Act, Mortgage supply, House prices, Homeownership
Brigitte HaarShareholder Wealth vs. Stakeholder interests? Evidence from Code Compliance under the German Corporate Governance Code
SAFE Working Paper No. 154
Law and Finance SAFE Working Paper2016corporate governance codes, soft law, stakeholder, shareholder wealth, market enforcement, German corporate governance, supervisory board, incentive pay, severance pay caps, age limits
Rainer Haselmann, Mark WahrenburgBanks' Internal Rating Models - Time for a Change? The System of Floors as Proposed by the Basel Committee
White Paper No. 43
Financial Intermediation Policy Paper2016Internal rating models, floors, banking regulation, BCBS
Julia Hirsch, Uwe WalzThe Financing Dynamics of Newly Founded Firms
SAFE Working Paper No. 153
Law and Finance SAFE Working Paper2016financing decisions, life-cycle, firm growth, newly founded firms
Viral Acharya, Tim Eisert, Christian Eufinger, Christian HirschWhatever it Takes: The Real Effects of Unconventional Monetary Policy
SAFE Working Paper No. 152
Financial Intermediation, Data Center SAFE Working Paper2016Unconventional Monetary Policy, Real Effects, Zombie Lending
Florian Hett, Alexander SchmidtBank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis
Journal of Financial Economics
Financial Intermediation, Transparency Lab, Experiment Center Published Paper2017Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline
Fabrizio Lillo, Loriana Pelizzon, Michael SchneiderHow Has Sovereign Bond Market Liquidity Changed? - An Illiquidity Spillover Analysis
SAFE Working Paper No. 151
Financial Markets, Systemic Risk Lab SAFE Working Paper2016Liquidity, jump detection, Hawkes processes, government bonds, MTS bond market, Quantitative Easing.
Massimiliano Caporin, Aleksey Kolokolov, Roberto RenòSystemic Co-Jumps
SAFE Working Paper No. 149
Financial Markets, Systemic Risk Lab SAFE Working Paper2016Jumps, Return predictability, Systemic events, Variance Risk Premium
Vanya Horneff, Raimond Maurer, Olivia S. MitchellPutting the Pension Back in 401(k) Plans: Optimal versus Default Longevity Income Annuities
SAFE Working Paper No. 150
Household Finance SAFE Working Paper2016dynamic portfolio choice, longevity risk, variable annuity, retirement income
Otmar IssingCentral Banks – From Overburdening to Decline?
White Paper No. 42
Macro Finance Policy Paper2016Central Banking, ECB, Monetary Policy
Petr Jakubik, Sven-Thorsten JakuschOn the Applicability of Maximum Likelihood Methods: From Experimental to Financial Data
SAFE Working Paper No. 148
Household Finance SAFE Working Paper2016Utility Functions, Model Selection, Parameter Elicitation
Andreas Hackethal, Sven-Thorsten Jakusch, Steffen MeyerTaring All Investors with the Same Brush? Evidence for Heterogeneity in Individual Preferences from a Maximum Likelihood Approach
SAFE Working Paper No. 147
Household Finance SAFE Working Paper2016Utility Theory, Maximum Likelihood, Individual Investors
Andreas Hackethal, Sven-Thorsten Jakusch, Steffen MeyerTaming Models of Prospect Theory in the Wild? Estimation of Vlcek and Hens (2011)
SAFE Working Paper No. 146
Household Finance SAFE Working Paper2016Prospect Theory, Parameter Elicitation, Investors Heterogeneity
Sascha Baghestanian, Paul Gortner, Baptiste MassenotCompensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis
Experimental Economics
Law and Finance, Experiment Center Published Paper2017compensation, liquidity, experimental asset markets, bubbles
Raphael Abiry, Christian Geppert, Alexander LudwigSecular Stagnation? Growth, Asset Returns and Welfare in the Next Decades: First Results
SAFE Working Paper No. 145
Macro Finance SAFE Working Paper2016secular stagnation; demographic change; overlapping generations; natural rate; equity premium; growth; welfare; human capital
Mario Bellia, Loriana Pelizzon, Marti Subrahmanyam, Jun Uno, Darya YuferovaHigh Frequency Traders without Trading: Price Discovery and Liquidity Provision in the Pre-Opening Period
SAFE Working Paper No. 144
Financial Markets, Systemic Risk Lab SAFE Working Paper2016High-Frequency Traders (HFTs), Pre-Opening, Opening Call Auction, Price Discovery, Liquidity provision.
Christian Eufinger, Andrej GillIncentive-Based Capital Requirements
Management Science
Law and Finance, Transparency Lab, Experiment Center Published Paper2017Basel III, capital regulation, compensation, leverage, risk
Peter Gomber, Satchit Sagade, Erik Theissen, Moritz Christian Weber, Christian WestheideSpoilt for Choice: Order Routing Decisions in Fragmented Equity Markets
SAFE Working Paper No. 143
Financial Markets, Systemic Risk Lab SAFE Working Paper2016Dark Trading, Fragmentation, Anonymity, Immediacy
Tomaso Aste, Loriana Pelizzon, Nicolas Perony, Paolo TascaBanking 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)
Financial Intermediation, Systemic Risk Lab Published Paper2016
Michael Kosfeld, Ulrich SchüwerAdd-On Pricing in Retail Financial Markets and the Fallacies of Consumer Education
Review of Finance
Household Finance, Experiment Center Published Paper2017consumer education,financial literacy, bounded rationality, competition, regulation
Jan Pieter Krahnen, Loriana Pelizzon"Predatory" Margins and the Regulation and Supervision of Central Counterparty Clearing Houses (CCPs)
White Paper No. 41
Financial Markets, Systemic Risk Lab Policy Paper2016 central counterparties, CCP, derivatives, financial market regulation, financial market supervision
Alexander LudwigDas Deutsche Rentensystem: Thesen zur derzeitigen Diskussion um „Umkehr“-Reformen
White Paper No. 40
Household Finance Policy Paper2016German pension system, reform, retirement age
Nathanael VellekoopThe Impact of Long-Run Macroeconomic Experiences on Personality
SAFE Working Paper No. 142
Household Finance SAFE Working Paper2016Personality traits, Big Five, Locus of control, labor market, unemployment
Brigitte HaarFreedom of Contract and Financial Stability Through the Lens of the Legal Theory of Finance
SAFE Working Paper No. 141
Law and Finance SAFE Working Paper2016law and finance, financial stability, financial contracts, structured finance, asset-backed securities, pari passu clauses, collective action clauses, otc derivatives markets, central counter parties, Basel III, Coco bonds, trust law, China
Peter Gomber, Satchit Sagade, Erik Theissen, Moritz Christian Weber, Christian WestheideCompetition Between Equity Markets: A Review of the Consolidation Versus Fragmentation Debate
Journal of Economic Surveys
Financial Markets Published Paper2017Competition, Fragmentation, Market Structure, Liquidity, Price Discovery
Günter Franke, Thomas Mosk, Eberhard SchnebelFair Retail Banking: How to Prevent Mis-Selling by Banks
White Paper No. 39
Law and Finance Policy Paper2016Retail Banking, Mis-selling, MiFID II
Helmut SiekmannKurzkommentar zum Volksentscheid im Vereinigten Königreich am 23. Juni 2016
Policy Letter No. 53
Macro Finance Policy Paper2016Brexit, Europäische Union, Vereinigtes Königreich
Reint Gropp, Rasa Karapandza, Julian OpferkuchThe Forward-Looking Disclosures of Corporate Managers: Theory and Evidence
SAFE Working Paper No. 140
Financial Intermediation SAFE Working Paper2016Repeated Games; Asymmetric Information; Firms; Reputation
Holger Kraft, Thomas Seiferling, Frank Thomas SeifriedOptimal Consumption and Investment with Epstein-Zin Recursive Utility
Finance and Stochastics
Financial Markets Published Paper2017consumption-portfolio choice, asset pricing, stochastic differential utility, incomplete markets, fixed point approach, FBSDE
Emanuel Bayer, Bernd Skiera, Kapil TuliDo Disclosures of Customer Metrics Lower Investors’ and Analysts’ Uncertainty, But Hurt Firm Performance?
Journal of Marketing Research
Law and Finance Published Paper2017disclosure, customer metrics, accounting, financial reporting, marketing–finance interface
Shafik Hebous, Alfons J. WeichenriederToward a Mutualization of European Unemployment Insurance? On Limiting the Downsides of a Fiscal Transfer System for the Eurozone
CESifo Economic Studies
Macro Finance Published Paper2016EMU, Eurozone, European unemployment insurance, fiscal transfers
Mohamed Aldegwy, Matthias ThiemannVon mikro- zu makroprudenzieller Regulierung
Die Innenwelt der Ökonomie: Wissen, Macht und Performativität in der Wirtschaftswissenschaft (Springer)
Macro Finance Published Paper2016Banking Regulation, Systemic Risk, Formalism, Equilibrium Thinking, Discourse, Citation Network Analysis
Brigitte HaarFreedom of Contract and Financial Stability
European Business Organization Law Review
Law and Finance, Systemic Risk Lab Published Paper2016
Alfons J. WeichenriederPanama & Co: Implikationen für die Steuerpolitik
Policy Letter No. 52
Macro Finance Policy Paper2016Steuerhinterziehung, Steuervermeidung, Steueroasen, Briefkastenfirmen, Panama Papers
Holger Kraft, Claus Munk, Farina WeissPredictors and Portfolios Over the Life Cycle
SAFE Working Paper No. 139
Household Finance SAFE Working Paper2016Return predictability, human capital, housing, investments, welfare
Michael Donadelli, Patrick GrüningLabor Market Dynamics, Endogenous Growth and Asset Prices
Economics Letters
Financial Markets Published Paper2016http://www.sciencedirect.com/science/article/pii/S0165176516300933
Mohamed Aldegwy, Matthias ThiemannHow Economics Got it Wrong: Formalism, Equilibrium Modelling and Pseudo-Optimization in Banking Regulatory Studies
SAFE Working Paper No. 138
Macro Finance SAFE Working Paper2016Sociology of Finance, Optimal Regulation, Dynamic and Reliable Regulation, Banking Regulation, Financial Crisis
Alexander LudwigDemographischer Wandel: Kapitalrenditen, Löhne und Verteilungswirkungen
White Paper No. 38
Macro Finance Policy Paper2016Demographischer Wandel, Migration, säkulare Stagnation, Kapitalrenditen, Ungleichheit
Elia Berdin, Christoffer Kok, Cosimo PancaroA Stochastic Forward-Looking Model to Assess the Profitability and Solvency of European Insurers
SAFE Working Paper No. 137
Financial Intermediation SAFE Working Paper2016Financial Stability, Insurance, Interest Rate Risk, Stress Test
Holger Kraft, Claus Munk, Frank Thomas Seifried, Sebastian WagnerConsumption Habits and Humps
Economic Theory
Household Finance Published Paper2017Consumption hump, life-cycle utility maximization, habit formation, impatience
Mohamed Aldegwy, Edin Ibrocevic, Matthias ThiemannUnderstanding the Shift from Micro to Macro-Prudential Thinking: A Discursive Network Analysis
SAFE Working Paper No. 136
Macro Finance SAFE Working Paper2016Banking Regulation, Systemic Risk, Formalism, Equilibrium Thinking, Discourse, Citation Network Analysis
Douglas Cumming, Jochen Christian Werth, Yelin ZhangGovernance in Entrepreneurial Ecosystems: Venture Capitalists vs. Technology Parks
SAFE Working Paper No. 135
Law and Finance SAFE Working Paper2016Entrepreneurship, Entrepreneurial Finance, Governance, Technology Park, Incubator, Board of Directors, Venture Capital, Angel
Günter Beck, Hans-Helmut KotzEuro Area Shadow Banking Activities in a Low-Interest-Rate Environment: A Flow-of-Funds Perspective
White Paper No. 37
Financial Intermediation, Macro Finance Policy Paper2016Non-bank financial intermediation, shadow banking, financial stability, systemic risk, financial regulation, low interest rate environment
Günter Beck, Hans-Helmut Kotz, Natalia ZabelinaLost in Translation? ECB’s Monetary Impulses and Financial Intermediaries’ Responses
White Paper No. 36
Financial Intermediation, Macro Finance Policy Paper2016Non-bank financial intermediation, interest-rate channel, credit channel, risk-taking channel of monetary policy, market-based financial intermediation, monetary transmission mechanism, waterbed effect
Vilen Lipatov, Alfons J. WeichenriederA Decentralization Theorem of Taxation
CESifo Economic Studies
Macro Finance Published Paper2016fiscal federalism, taxing rights, decentralization theorem
Brigitte HaarInvestor Protection Through Model Case Procedures – Implementing Collective Goals and Individual Rights Under the 2012 Amendment to the German Capital Markets Model Case Act (KapMuG)
European Business Organization Law Review
Law and Finance Published Paper2014collective litigation, investor protection, test cases, German Capital Markets Model Case Act (KapMuG)
Markus Kröll, Devesh RustagiReputation, Honesty, and Cheating in Informal Milk Markets in India
SAFE Working Paper No. 134
Law and Finance, Experiment Center SAFE Working Paper2016Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India
Markus Behn, Rainer Haselmann, Thomas Kick, Vikrant VigThe Political Economy of Bank Bailouts
SAFE Working Paper No. 133
Financial Intermediation, Law and Finance SAFE Working Paper2016political economy, bailouts, state-owned enterprises, elections
Rainer Haselmann, David Schoenherr, Vikrant VigRent-Seeking in Elite Networks
SAFE Working Paper No. 132
Financial Intermediation, Law and Finance SAFE Working Paper2016-
Andrej Gill, Nikolai VisnjicPerformance Benefits of Tight Control
The Journal of Private Equity
Law and Finance, Transparency Lab, Experiment Center Published Paper2015private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance
Marcel Fratzscher, Reint Gropp, Hans-Helmut Kotz, Jan Pieter Krahnen, Christian Odendahl, Beatrice Weder di Mauro, Guntram B. WolffMere criticism of the ECB is no solution
Policy Letter No. 51
Macro Finance Policy Paper2016eurozone, crisis, monetary policy
Nicole Branger, Patrick Grüning, Christian SchlagCommodities, Financialization, and Heterogeneous Agents
SAFE Working Paper No. 131
Financial Markets SAFE Working Paper2016Commodities, General Equilibrium, Heterogeneous Preferences, Financial Markets
Martin Götz, Tobias TrögerShould the Marketing of Subordinated Debt be Restricted/Different in One Way or the Other? What to do in the Case of Mis-selling?
White Paper No. 35
Financial Intermediation Policy Paper2016Bail-in, BRRD, subordinated debt, EU market regulation
Peter GomberThe German Equity Trading Landscape
White Paper No. 34
Financial Markets Policy Paper2016MiFID II, MiFIR, equity trading, electronic trading, cash equity markets
Jan Pieter Krahnen, Felix Noth, Ulrich SchüwerStructural Reforms in Banking: The Role of Trading
White Paper No. 33
Financial Intermediation, Financial Markets Policy Paper2016proprietary trading, banking separation proposals, bank risk
Patrick Behr, Reinhard H. SchmidtThe German Banking System: Characteristics and Challenges
White Paper No. 32
Financial Intermediation Policy Paper2015banks, government, regulation
Adrian Buss, Bernard Dumas, Raman Uppal, Grigory VilkovThe Intended and Unintended Consequences of Financial-Market Regulations: A General Equilibrium Analysis
Journal of Monetary Economics
Financial Markets Published Paper2016Tobin tax, borrowing constraints, short-sale constraints, stock market volatility, incomplete markets, differences of opinion
Giuliano CuratolaOptimal Consumption and Portfolio Choice with Loss Aversion
SAFE Working Paper No. 130
Financial Markets SAFE Working Paper2016Loss-aversion, Habit-formation, Consumption-portfolio choice
Giuliano Curatola, Michael Donadelli, Patrick Grüning, Christoph MeinerdingInvestment-Specific Shocks, Business Cycles, and Asset Prices
SAFE Working Paper No. 129
Financial Markets SAFE Working Paper2016General Equilibrium Asset Pricing, Production Economy, Long-Run Risk, Investment-Specific Shocks, Nominal Rigidities
Giuliano CuratolaPreference Evolution and the Dynamics of Capital Markets
SAFE Working Paper No. 128
Macro Finance SAFE Working Paper2016Asset pricing, general equilibrium, heterogeneous investors, interdependent preferences, portfolio choice
Helmut Elsinger, Philipp Schmidt-Dengler, Christine ZulehnerCompetition in Treasury Auctions
SAFE Working Paper No. 127
Law and Finance SAFE Working Paper2016treasury auctions, multi-unit auctions, independent private values, competition, bidder surplus, auction format
Carsten Bienz, Karin Thorburn, Uwe WalzFund Ownership, Wealth, and Risk-Taking: Evidence on Private Equity Managers
SAFE Working Paper No. 126
Financial Intermediation SAFE Working Paper2016Private equity, leveraged buyouts, incentives, coinvestment, risk taking, wealth
Jens-Hinrich BinderTo Ring-Fence or Not, and How? Strategic Questions for Post-Crisis Banking Reform in Europe
forthcoming in European Banking Regulation (CH Beck)
Financial Intermediation Published Paper2018EU banking regulation, Liikanen Report, ring-fencing, structural bank reform, Vickers Commission, Volcker Rule
Jens-Hinrich BinderKomplexitätsbewältigung durch Verwaltungsverfahren?
Zeitschrift für das gesamte Handels- und Wirtschaftsrecht
Financial Intermediation Published Paper2015
On the Optimal Provision of Social Insurance: Progressive Taxation versus Education Subsidies in General Equilibrium
Journal of Monetary Economics, Vol 77, pp. 72-98
Macro Finance Published Paper2016Progressive Taxation, Education Subsidy, Transitional Dynamics
Tobias Tröger, Uwe WalzDoes Say on Pay Matter? Evidence from Germany
SAFE Working Paper No. 125
Law and Finance, Transparency Lab SAFE Working Paper2016Say-on-pay, corporate governance, management compensation
Adrian Buss, Bernard Dumas, Raman Uppal, Grigory VilkovThe Intended and Unintended Consequences of Financial-Market Regulations: A General Equilibrium Analysis
SAFE Working Paper No. 124
Financial Markets SAFE Working Paper2016Tobin tax, borrowing constraints, short-sale constraints, stock market volatility, incomplete markets, differences of opinion
Marie Lalanne, Paul SeabrightThe Old Boy Network: The Impact of Professional Networks on Remuneration in Top Executive Jobs
SAFE Working Paper No. 123
Law and Finance SAFE Working Paper2016professional networks, gender wage gap, executive compensation, placebo technique
Douglas Cumming, Uwe Walz, Jochen Christian WerthEntrepreneurial Spawning: Experience, Education, and Exit
SAFE Working Paper No. 122
Law and Finance SAFE Working Paper2016Venture governance, entrepreneurship, entrepreneurial spawning, angel finance, venture capital, exit
Douglas Cumming, Uwe Walz, Jochen Christian WerthEntrepreneurial Spawning: Experience, Education, and Exit
Financial Review
Law and Finance Published Paper2016Venture governance, entrepreneurship, entrepreneurial spawning, angel finance, venture capital, exit
Elia Berdin, Matteo SottocornolaInsurance Activities and Systemic Risk
SAFE Working Paper No. 121
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2015Systemic Risk, Insurance Activities, Systemically Important Financial Institutions
Bijan Kaffenberger, Mark WahrenburgFragmentation in the European Retail Deposit Market and Implications for Loan Availability in European Member States
White Paper No. 31
Household Finance Policy Paper2015household finance, deposits, European market fragmentation
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana SchimetschekThe Potential Effect of Offering Lump Sums as Retirement Payments
Policy Letter No. 50
Household Finance Policy Paper2015Social Security solvency, Pension system
Günther GebhardtImpairments of Greek Government Bonds under IAS 39 and IFRS 9: A Case Study
White Paper No. 30
Financial Markets Policy Paper2015government bonds, IFRS 9, credit losses
Helmut GründlSolvency II ante portas: Nutzen und Risiken der neuen Versicherungsregulierung
Policy Letter No. 49
Financial Intermediation Policy Paper2015Versicherungen, Regulierung
Helmut GründlSolvency II at the Gates: Benefits and Risks of the New Insurance Regulation
Policy Letter No. 48
Financial Intermediation Policy Paper2015Insurance, Regulation
Matthias Heinz, Heiner SchumacherSignaling Cooperation
SAFE Working Paper No. 120
Law and Finance SAFE Working Paper2015Signaling, Public Goods, Labor Markets, Extracurricular Activities
Michael Brennan, Holger KraftLeaning Against the Wind: Debt Financing in the Face of Adversity
SAFE Working Paper No. 119
Financial Markets SAFE Working Paper2015Capital structure, financing policy, managerial incentives
Michael Donadelli, Antonio Paradiso, Max RiedelA Quasi Real-Time Leading Indicator for the EU Industrial Production
SAFE Working Paper No. 118
Financial Markets SAFE Working Paper2015Leading indicator, EU industrial production, Granger causality, Turning points, Forward-looking Taylor rule
Dirk Krueger, Philipp Krüger, Alexander LudwigOn the Optimal Provision of Social Insurance
SAFE Working Paper No. 110
Macro Finance SAFE Working Paper2015Progressive Taxation, Education Subsidy, Transitional Dynamics
Marcel BluhmInterbank Funding as Insurance Mechanism for (Persistent) Liquidity Shocks
SAFE Working Paper No. 117
Financial Intermediation SAFE Working Paper2015Financial fragility, interbank market, liquidity, maturity, network model
Andreas Fagereng, Charles Gottlieb, Luigi GuisoAsset Market Participation and Portfolio Choice Over the Life-Cycle
SAFE Working Paper No. 115
Household Finance SAFE Working Paper2015-
Charles GottliebOn the Distributive Effects of Inflation
SAFE Working Paper No. 116
Household Finance SAFE Working Paper2015Anticipated Inflation, Monetary Policy, Incomplete markets, Heterogeneous agents, Endogenous Asset Market Participation
Ester Faia, Andreas Hackethal, Michael Haliassos, Katja LangenbucherFinancial Regulation: A Transatlantic Perspective
Cambridge University Press
Household Finance, Macro Finance Published Paper2015banking union, microprudential regulation, macroprudential regulation, investor protection, borrower protection
Monica Billio, Lorenzo Frattarolo, Loriana PelizzonA Time Varying Performance Evaluation of Hedge Fund Strategies through Aggregation
Bankers, Markets and Investors
Financial Intermediation, Systemic Risk Lab Published Paper2014Extra performances, Hedge funds, Markov switching models, Financial crises
Tobias TrögerA Political Economy Perspective on Common Supervision in the Eurozone
Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Financial Intermediation Published Paper2015
Gabriele Camera, Alessandro GioffréA Tractable Analysis of Contagious Equilibria
Journal of Mathematical Economics
Macro Finance Published Paper2015Cooperation, Social norms, Grim trigger, Random matching
Andrea Weber, Moritz Christian Weber, Andrea Weber, Christine ZulehnerCompetition and Gender Prejudice: Are Discriminatory Employers Doomed to Fail?
Journal of the European Economic Association
Law and Finance Published Paper2014
Jan Pieter Krahnen, Laura MorettiBail-In Clauses
Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Financial Intermediation Published Paper2015
Baptiste Massenot, Stéphane StraubInformal Sector and Economic Development: The Credit Supply Channel
SAFE Working Paper No. 106
Macro Finance SAFE Working Paper2015-
Loriana Pelizzon, Domenico SartoreDeciphering the Libor and Euribor Spreads during the Subprime Crisis
North American Journal of Economics and Finance
Financial Intermediation, Systemic Risk Lab Published Paper2013Subprime crisis, Collateral, Liquidity, Unconventional monetary policy
Klaus Gugler, Michael Weichselbaumer, Christine ZulehnerCompetition in the Economic Crisis: Analysis of Procurement Auctions
European Economic Review
Law and Finance Published Paper2015Construction procurement, First-price auctions, Private values, Economic crisis, Government stimulus
Franz Hackl, Michael Kummer, Rudolf Winter-Ebmer, Christine ZulehnerMarket Structure and Market Performance in E-Commerce
European Economic Review
Financial Markets Published Paper2014Retailing, Product life cycle, Market structure, Market performance, Markup, Price dispersion
Helmut Mahringer, Christine ZulehnerChild-Care Costs and Mothers’ Employment Rates: An Empirical Analysis for Austria
Review of Economics of the Household
Law and Finance Published Paper2013Child-care, Labour supply, Bivariate sample selection, Matched survey and administrative data
René Böheim, Klemens Himpele, Helmut Mahringer, Christine ZulehnerThe Distribution of the Gender Pay Gap in Austria: Evidence from Matched Employer-Employee Data and Tax Records
Journal for Labour Market Research
Law and Finance Published Paper2013gender wage differentials, quantile regressions, decomposition, matched employer-employee data
René Böheim, Klemens Himpele, Helmut Mahringer, Christine ZulehnerThe Gender Wage Gap in Austria: Eppur si muove!
Empirica
Law and Finance Published Paper2013Gender wage differentials, Wage inequality, Decomposition, Matched employer-employee data
Ester Faia, Isabel SchnabelThe road from micro-prudential to macro-prudential regulation
Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Macro Finance Published Paper2015
Alfons J. WeichenriederGreece: Threatening Recovery
Policy Letter No. 37
Macro Finance Policy Paper2015Financial Assistance, Conditionality
Holger Kraft, Claus Munk, Sebastian WagnerHousing Habits and Their Implications for Life-Cycle Consumption and Investment
SAFE Working Paper No. 85
Household Finance SAFE Working Paper2015Habit formation, life-cycle household decisions, housing expenditure share, consumption hump, stock market participation, renting vs. owning home, human capital
Kosmas Kaprinis, Katja LangenbucherPrivate Enforcement of Investor Protection – Is Private Law up for the Challenge? A Glance at the United Kingdom
100 Jahre Rechtswissenschaft in Frankfurt (Vittorio Klostermann)
Household Finance Published Paper2014
Agar Brugiavini, Danilo Cavapozzi, Mario Padula, Yuri PettinicchiFinancial Education, Literacy and Investment Attitudes
SAFE Working Paper No. 86
Household Finance SAFE Working Paper2015Financial education, Financial literacy, Planning, Investment attitudes
Iñaki Aldasoro, Domenico Delli Gatti, Ester FaiaBank Networks: Contagion, Systemic Risk and Prudential Policy
SAFE Working Paper No. 87
Macro Finance SAFE Working Paper2015banking networks, centrality metrics, systemic risk
Ester Faia, Beatrice Weder di MauroCross-Border Resolution of Global Banks
SAFE Working Paper No. 88
Macro Finance SAFE Working Paper2015single point of entry, multiple point of entry, strategic interaction of regulators, financial spillover, financial retrenchment
Julia Braun, Alfons J. WeichenriederDoes Exchange of Information between Tax Authorities Influence Multinationals’ Use of Tax Havens?
SAFE Working Paper No. 89
Macro Finance SAFE Working Paper2015Tax havens, tax information exchange agreements, location decisions, international taxation
Pinar TopalFiscal Stimulus and Labor Market Flexibility
SAFE Working Paper No. 90
Macro Finance SAFE Working Paper2015fiscal policy, labour economics, labour market policies, threshold vector auto-regressive models, panel VAR, non-linear VAR, impulse analysis
Giuliano Curatola, Michael Donadelli, Patrick GrüningMatching the BRIC equity premium: A structural approach
Emerging Markets Review
Financial Markets Published Paper2015BRIC countries, Equity risk premium, Long-run risk, Persistence
Giuliano CuratolaLoss aversion, habit formation and the term structures of equity and interest rates
Journal of Economic Dynamics and Control
Financial Markets, Macro Finance Published Paper2015Loss-aversion, Habit formation, Yield curve, Dividend strips, General equilibrium
Tobias TrögerHow 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 Published Paper2016shadow banking, regulatory arbitrage, prudential supervision
Dirk Hackbarth, Rainer Haselmann, David SchoenherrFinancial Distress, Stock Returns, and the 1978 Bankruptcy Reform Act
Review of Financial Studies
Financial Intermediation Published Paper2015financial distress, law and finance, shareholder recovery, stock returns
Markus Behn, Rainer Haselmann, Paul WachtelPro-Cyclical Capital Regulation and Lending
The Journal of Finance
Financial Intermediation Published Paper2016capital regulation, credit crunch, financial crisis, pro-cyclicality
Christoph Hambel, Holger Kraft, Eduardo S. SchwartzOptimal Carbon Abatement in a Stochastic Equilibrium Model with Climate Change
SAFE Working Paper No. 92
Macro Finance, Systemic Risk Lab SAFE Working Paper2015Climate change economics, Carbon abatement, GDP growth
Shafik Hebous, Tom ZimmermannRevisiting the Narrative Approach of Estimating Tax Multipliers
SAFE Working Paper No. 93
Macro Finance SAFE Working Paper2015Narrative Approach, Fiscal Stabilization, Tax Multiplier, Weak Instruments
Claudia Lambert, Felix Noth, Ulrich SchüwerHow Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina
SAFE Working Paper No. 94
Financial Intermediation SAFE Working Paper2015catastrophic events, bank regulation, capital ratios, natural experiment
Silvia Bressan, Noemi Pace, Loriana PelizzonHealth Status and Portfolio Choice: Is Their Relationship Economically Relevant?
International Review of Financial Analysis
Household Finance, Systemic Risk Lab Published Paper2014Household portfolios, Health status
Loriana Pelizzon, Marti Subrahmanyam, Davide Tomio, Jun UnoSovereign Credit Risk, Liquidity, and ECB Intervention: Deus Ex Machina?
SAFE Working Paper No. 95
Financial Markets, Systemic Risk Lab SAFE Working Paper2015Liquidity, Credit Risk, Euro-zone Government Bonds, Financial Crisis, MTS Bond Market
Jens-Hinrich BinderBanking Union and the Governance of Credit Institutions - A Legal Perspective
SAFE Working Paper No. 96
Financial Intermediation SAFE Working Paper2015Banking Union, Single Supervisory Mechanism, Single Resolution Mechanism, Banking Regulation, Bank Corporate Governance
Axel Börsch-Supan, Alexander LudwigAging in Europe: Reforms, International Diversification, and Behavioral Reactions
American Economic Review Papers and Proceedings
Macro Finance Published Paper2014
Alexander Ludwig, Alexander ZimperBiased Bayesian Learning with an Application to the Risk-Free Rate Puzzle
Journal of Economic Dynamics and Control
Macro Finance Published Paper2014Ambiguity, Non-additive probability measures, Bayesian learning, Truncated normal distribution, Risk-free rate puzzle
Vanya Horneff, Raimond Maurer, Olivia S. Mitchell, Ralph RogallaOptimal Life Cycle Portfolio Choice with Variable Annuities Offering Liquidity and Investment Downside Protection
Insurance: Mathematics and Economics
Household Finance Published Paper2015dynamic portfolio choice; longevity risk; variable annuity; money-back guarantee; liquidity; retirement income
Helmut SiekmannThe Legal Framework for the European System of Central Banks
White Paper No. 26
Macro Finance Policy Paper2015economic and monetary union, euro, monetary policy, economic policy
Tobias TrögerCorporate Groups – A German’s European Perspective
German and Nordic Perspectives on Company Law and Capital Markets Law (Mohr Siebeck)
Law and Finance Published Paper2015Corporate Groups, Related Party Transactions, Tunneling, Corporate Governance, E.U. Corporate Law, Shareholder Rights Directive, Group Interesterest, Minority Shareholder Protection, Creditor Protection
Marcel Grupp, Christian Rauch, Marc Umber, Uwe WalzThe Influence of Leveraged Buyouts on Target Firms’ Competitors
SAFE Working Paper No. 99
Law and Finance SAFE Working Paper2015Product Market Competition, Peers, LBOs, Restructuring
Alfons J. WeichenriederStellungnahme zu den Plänen einer Erbschaftsteuerreform
Policy Letter No. 39
Macro Finance Policy Paper2015Steuerpolitik, Erbschaftsteuer, Schenkungsteuer
Marcel GruppTaking the Lead: When Non-Banks Arrange Syndicated Loans
SAFE Working Paper No. 100
Law and Finance SAFE Working Paper2015Non-bank lead arrangers, syndicated loans, spread premium
Marcel GruppOn the Impact of Leveraged Buyouts on Bank Systemic Risk
SAFE Working Paper No. 101
Financial Intermediation SAFE Working Paper2015Leveraged buyouts, syndicated loans, systemic risk
Christine Moorman, Simone WiesGoing Public: How Stock Market Participation Changes Firm Innovation Behavior
Journal of Marketing Research
Financial Markets Published Paper2015Innovation, breakthrough innovation, stock market impact, IPO, marketing-finance interface, consumer packaged goods
Iñaki Aldasoro, Iván AlvesMultiplex Interbank Networks and Systemic Importance: An Application to European Data
SAFE Working Paper No. 102
Macro Finance SAFE Working Paper2015interbank networks, systemic importance, multiplex networks
Guido Friebel, Matthias HeinzMedia Slant Against Foreign Owners: Downsizing
Journal of Public Economics
Law and Finance Published Paper2014Media economics, Globalization, Economic xenophobia, Multi-national enterprises, Foreign direct investment
Volker Brühl, Helmut Gründl, Andreas Hackethal, Hans-Helmut Kotz, Jan Pieter Krahnen, Tobias TrögerComments on the EU Commission’s Capital Markets Union Project
White Paper No. 27
Financial Markets Policy Paper2015Capital Markets Union, functional finance approach, level playing field, financial services
Massimiliano Caporin, Loriana Pelizzon, Francesco Ravazzolo, Roberto RigobonMeasuring Sovereign Contagion in Europe
SAFE Working Paper No. 103
Financial Markets, Systemic Risk Lab SAFE Working Paper2015Sovereign Risk, Contagion, Disintegration
Sascha Baghestanian, Baptiste MassenotCredit Cycles: Experimental Evidence
SAFE Working Paper No. 104
Macro Finance, Experiment Center SAFE Working Paper2015-
Vilen Lipatov, Alfons J. WeichenriederA Decentralization Theorem of Taxation
SAFE Working Paper No. 105
Macro Finance SAFE Working Paper2015fiscal federalism, taxing rights, decentralization theorem
Michael HaliassosKeeping Households out of Financial Trouble
Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Household Finance Published Paper2015
Charles N. Noussair, Stefan T. Trautmann, Nathanael Vellekoop, Gijs van de KuilenRisk Aversion and Religion
Journal of Risk and Uncertainty
Household Finance Published Paper2013
Daniel Powell, Marc Steffen RappNon-Mandatory Say on Pay Votes and AGM Participation: Evidence from Germany
SAFE Working Paper No. 107
Law and Finance SAFE Working Paper2015Corporate Governance, Executive Remuneration, Say on Pay, Annual General Meeting, Germany
Sascha Baghestanian, Paul Gortner, Baptiste MassenotCompensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis
SAFE Working Paper No. 108
Law and Finance, Experiment Center SAFE Working Paper2015compensation, liquidity, experimental asset markets, bubbles
Tobias TrögerVertragsrechtliche Fragen negativer Zinsen auf Einlagen
Neue Juristische Wochenschrift
Financial Intermediation Published Paper2015
Tobias TrögerNegative Zinsen auf Einlagen – Juristische Hindernisse und ihre wettbewerbspolitischen Auswirkungen
Policy Letter No. 40
Law and Finance Policy Paper2015Niedrigzinsumfeld, Einlageverträge, negativer Zins
Jan Pieter KrahnenDrei Thesen zur Griechenlandkrise
Policy Letter No. 41
Macro Finance Policy Paper2015Währungsunion, Fiskalunion, Politische Union
Jan Pieter KrahnenThree Theses on the Greek Crisis
Policy Letter No. 42
Macro Finance Policy Paper2015Monetary Union, Fiscal Union, Political Union
Reinhard H. SchmidtEscalating Crisis in the Eurozone: The Case for Conditional Debt Relief for Greece
Policy Letter No. 43
Macro Finance Policy Paper2015Greek crisis, structural reforms, debt sustainability
Alfons J. WeichenriederEin ESM Programm ist nicht zu rechtfertigen
Policy Letter No. 44
Macro Finance Policy Paper2015Vertrag über die Arbeitsweise der EU (AEUV), ESM, Währungsunion
Guglielmo Maria Caporale, Michael Donadelli, Alessia VaraniInternational Capital Markets Structure, Preferences and Puzzles: A US-China World
Journal of International Financial Markets, Institutions and Money
Financial Markets Published Paper2015Macro-anomalies, Financial autarky, Complete markets, Long-run innovations, Home bias
Alfons J. Weichenrieder, Fangying XuAre Tax Havens Good? Implications of the Crackdown on Secrecy
SAFE Working Paper No. 111
Macro Finance SAFE Working Paper2015Tax haven, secrecy, tax information exchange, China, India
Shafik Hebous, Alfons J. WeichenriederTowards a Fiscal Union? On the Acceptability of a Fiscal Transfer System in the Eurozone
White Paper No. 28
Macro Finance Policy Paper2015EMU, Eurozone, European unemployment insurance, fiscal transfers
Bettina Brüggemann, Jinhyuk YooAggregate and Distributional Effects of Increasing Taxes on Top Income Earners
SAFE Working Paper No. 113
Macro Finance SAFE Working Paper2015Top Income Taxation, Heterogeneous Agents, Incomplete Markets, Income and Wealth Inequality
Helmut Gründl, Tobias NiedrigThe Effects of Contingent Convertible (CoCo) Bonds on Insurers' Capital Requirements under Solvency II
Policy Letter No. 45
Financial Intermediation Policy Paper2015Life insurance companies, Coco bonds, Solvency II
Günter Beck, Hans-Helmut Kotz, Natalia ZabelinaEuro Area Macro-Financial Stability: A Flow-of-Funds Perspective
White Paper No. 29
Financial Intermediation, Macro Finance Policy Paper2015Bank and non-bank financial intermediation, shadow banking, financial stability, systemic risk, financial regulation
Martin Götz, Rainer Haselmann, Jan Pieter Krahnen, Sascha SteffenDid Emergency Liquidity Assistance (ELA) of the ECB Delay the Bankruptcy of Greek Banks?
Policy Letter No. 46
Financial Intermediation, Macro Finance Policy Paper2015emergency liquidity assistance (ELA), economic and monetary union, banking supervision, Greece
Martin Götz, Rainer Haselmann, Jan Pieter Krahnen, Sascha SteffenWaren die ELA-Notkredite der EZB für griechische Banken eine Konkursverschleppung?
Policy Letter No. 47
Financial Intermediation, Macro Finance Policy Paper2015emergency liquidity assistance (ELA), Währungsunion, Bankenaufsicht, Griechenland
Andreas HackethalFinancial Advice
Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Household Finance Published Paper2015
Helmut SiekmannZur Offenlegung der Bezüge von Sparkassenführungskräften im Internet
White Paper No. 12
Law and Finance Policy Paper2014Bezüge im Bankensektor, Transparenz, Corporate Governance
Douglas J. Elliott, Christian RauchLessons from the Implementation of the Volcker Rule for Banking Structural Reform in the European Union
White Paper No. 13
Financial Intermediation Policy Paper2014banking separation proposals, proprietary trading ban, Dodd-Frank Act
Reint GroppHow Important Are Hedge Funds in a Crisis?
Policy Letter No. 23
Financial Intermediation Policy Paper2014systemic risk analysis, statistical risk measurement, spillover effects
Ester FaiaFrontiers of Sustainable Finance in Europe: The Social Impact Bond
Policy Letter No. 24
Financial Intermediation Policy Paper2014social impact bonds, risk premia, incentives for investment
Michael HaliassosThe Fiscal Crisis as a Crisis in Trust
Policy Letter No. 25
Household Finance Policy Paper2014fiscal crisis, household liquidity, economic reforms, Greece
Peter Gomber, Benedikt Thomas JaegerMiFID: Eine systematische Analyse der Zielerreichung
White Paper No. 14
Financial Markets Policy Paper2014MiFID, Wettbewerb, Integration, Transparenz, Integrität
Helmut SiekmannEuropa und die Instabilität des Rechts
Press Article, 2014
Macro Finance Policy Paper2014Europarecht, Rechtsdurchsetzung, EZB
Andreas Hubener, Raimond Maurer, Olivia S. MitchellFamily Status, Social Security Claiming Options, and Life Cycle Portfolios
Policy Letter No. 26
Household Finance Policy Paper2014life-cycle models, household savings, investment decisions
Cornelia WollCurtailing Capture through the European Banking Union: A Note of Caution
Policy Letter No. 27
Financial Intermediation Policy Paper2014public-private relations, capture, collective action, social relations
Alfons J. WeichenriederIm Schatten der Lowflation
Policy Letter No. 28
Macro Finance Policy Paper2014Deflation, Zentralbanken, Quantitative Lockerung
Otmar IssingMonetary Policy and Balance Sheet Adjustment
White Paper No. 15
Macro Finance Policy Paper2014recession, monetary policy, balance sheet adjustment
Otmar IssingForward Guidance: A New Challenge for Central Banks
White Paper No. 16
Macro Finance Policy Paper2014central bank communication, monetary policy, forward guidance
Raimond MaurerDen Ruhestand optimal finanzieren
Press Article, 2014
Household Finance Policy Paper2014Alterssicherung, USA, Deutschland
Hermann RemspergerDer makroprudenzielle Komplex: der Prozess, das Schloss, das Urteil
White Paper No. 17
Macro Finance Policy Paper2014makroprudenzielle Regulierung, Finanzstabilität, Europäische Zentralbank
Marcel Gellings, Kai Jungbluth, Katja LangenbucherEU Mapping: Systematic Overview on Economic and Financial Legislation
White Paper No. 18
Law and Finance Policy Paper2014EU economic and financial services legislation
Andreas Hackethal, Thomas SchäferAnlegerschutz braucht mehr Eigenverantwortung
Press Article, 2014
Household Finance Policy Paper2014Anlegerschutz, Bankberatung, Finanzbildung
Reint GroppTaxes, Banks and Financial Stability
White Paper No. 6
Financial Intermediation Policy Paper2013taxes, financial institutions, tax incidence, financial stability, tax revenues, bank incentives
Helmut GründlStellungnahme zum Entwurf eines Gesetzes zur Absicherung stabiler und fairer Leistungen für Lebensversicherte
Policy Letter No. 29
Financial Intermediation Policy Paper2014Lebensversicherungen, Solvency II, Bewertungsreserven, Niedrigzinsphase
Jan Pieter KrahnenOn the European Commission’s Proposal for a Structural Reform of Banking
Press Article, 2014
Financial Intermediation Policy Paper2014proprietary trading, banking separation proposals, Liikanen Commission
Tobias TrögerCorporate Groups
SAFE Working Paper No. 66
Law and Finance SAFE Working Paper2014Corporate Groups, Related Party Transactions, Tunneling, Corporate Governance, E.U. Corporate Law, Shareholder Rights Directive, Group Interest, Minority Shareholder Protection, Creditor Protection
Sascha Baghestanian, Paul Gortner, Joël van der WeelePeer Effects and Risk Sharing in Experimental Asset Markets
SAFE Working Paper No. 67
Household Finance, Financial Markets, Experiment Center SAFE Working Paper2014peer effects, laboratory experiments, risk taking, asset markets
Tobias TrögerHow Special Are They? – Targeting Systemic Risk by Regulating Shadow Banking
SAFE Working Paper No. 68
Financial Intermediation SAFE Working Paper2014shadow banking, regulatory arbitrage, prudential supervision
Nina Biljanovska, Spyridon PalligkinisControl Thyself: Self-Control Failure and Household Wealth
SAFE Working Paper No. 69
Household Finance, Macro Finance SAFE Working Paper2014Self-Control, Household Wealth, Household Finance
Deyan RadevAssessing Systemic Fragility – A Probabilistic Perspective
SAFE Working Paper No. 70
Financial Intermediation SAFE Working Paper2014Banking Stability, Financial Distress, Tail Risk, Contagion
Alexander Ludwig, Matthias SchönEndogenous Grids in Higher Dimensions: Delaunay Interpolation and Hybrid Methods
SAFE Working Paper No. 72
Household Finance, Macro Finance SAFE Working Paper2014Dynamic Models, Numerical Solution, Method of Endogenous Gridpoints, Delaunay Interpolation
Max Groneck, Alexander Ludwig, Alexander ZimperA Life-Cycle Model with Ambiguous Survival Beliefs
SAFE Working Paper No. 73
Household Finance, Macro Finance SAFE Working Paper2014Cumulative prospect theory, Choquet expected utility, Dynamic inconsistency, Life-cycle hypothesis, Saving puzzles
Günter Franke, Jan Pieter Krahnen, Thomas von LüpkeEffective Resolution of Banks: Problems and Solutions
White Paper No. 19
Financial Intermediation Policy Paper2014Bank Recovery and Resolution Directive (BRRD), Single Resolution Mechanism (SRM), Bail-in
Peter Gomber, Frank NassauerNeuordnung der Finanzmärkte in Europa durch MiFID II/MiFIR
White Paper No. 20
Financial Markets Policy Paper2014MiFID II, MiFIR, Derivatehandel, Hochfrequenzhandel
Michael HaliassosNational Strategic Framework for Research and Innovation 2014 - 2020
White Paper No. 21
Macro Finance Policy Paper2014Greece, growth, innovation
Jan Pieter KrahnenKeine Institutionenkonkurrenz auf nationaler Ebene schaffen: das „doppelte AIDA“-Modell
Policy Letter No. 30
Macro Finance Policy Paper2014Bankenaufsicht, Bankenabwicklung, Bundesbank, Bafin
Martin GötzStellungnahme zum Entwurf eines Gesetzes zur Umsetzung der Richtlinie 2014/59/EU (BRRD-Umsetzungsgesetz)
Policy Letter No. 31
Financial Intermediation Policy Paper2014Bankenabwicklung, Restrukturierung, Bail-in, SoFFin
Shafik Hebous, Alfons J. WeichenriederWhat Do We Know about the Tax Planning of German-Based Multinational Firms?
White Paper No. 22
Macro Finance Policy Paper2014taxation, foreign direct investment, multinational firms
Viral Acharya, Sascha SteffenMaking Sense of the Comprehensive Assessment
Policy Letter No. 32
Financial Intermediation Policy Paper2014Asset Quality Review, Single Supervisy Mechanism, European Central Bankor
Sascha SteffenRobustness, Validity, and Significance of the ECB’s Asset Quality Review and Stress Test Exercise
White Paper No. 23
Financial Intermediation Policy Paper2014Stress Test, Comprehensive Assessment, Asset Quality Review, European Central Bank, European Banking Authority, Single Supervisory Mechanism
Nicole Branger, Patrick Konermann, Christoph Meinerding, Christian SchlagEquilibrium Asset Pricing in Directed Networks
SAFE Working Paper No. 74
Financial Markets, Systemic Risk Lab SAFE Working Paper2014Dynamic Networks, Mutually Exciting Processes, Asset Pricing, General Equilibrium, Recursive Preferences
Magdalena Ignatowski, Josef KorteResolution Threats and Bank Discipline – What Europe Can Learn for the Single Resolution Mechanism from U.S. Experience
Policy Letter No. 33
Financial Intermediation Policy Paper2014risk-taking, bank resolution regimes, USA, Europe
Craig Lewis, Christian SchlagWhat Does U.S. Money Market Mutual Fund Reform Portend for the European Union?
White Paper No. 24
Financial Markets Policy Paper2014money market funds, liquidity runs, floating net asset value (FNAV)
Markus Behn, Rainer Haselmann, Vikrant VigThe Limits of Model-Based Regulation
SAFE Working Paper No. 75
Financial Intermediation SAFE Working Paper2014capital regulation, internal ratings, Basel regulation
Iñaki Aldasoro, Ester FaiaThe Fiscal Compact and Government Debt: One Law, Multiple Statistics
Policy Letter No. 22
Macro Finance Policy Paper2014government debt, statistics, Fiscal Compact
Jan Pieter KrahnenBail-In jetzt richtig umsetzen
Policy Letter No. 34
Financial Intermediation Policy Paper2014total loss absorbing capacity (TLAC), nachrangiges Fremdkapital, too big to fail, bail-in
Jan Pieter KrahnenImplementing Bail-In Properly
Policy Letter No. 35
Financial Intermediation Policy Paper2014total loss absorbing capacity (TLAC), too big to fail, bail-in
Alfons J. WeichenriederPPPs: Umgehung von Defizitregeln oder höhere Effizienz im Staatssektor?
Policy Letter No. 36
Macro Finance Policy Paper2014Schuldenbremse, Defizitregeln, Private Public Partnership (PPP)
Benjamin Born, Gernot J. Müller, Johannes PfeiferDoes Austerity Pay Off?
SAFE Working Paper No. 77
Macro Finance SAFE Working Paper2014Fiscal policy, austerity, sovereign risk, yield spreads, confidence, panel VAR, local projections, fiscal stress
Harris Dellas, Dirk NiepeltAusterity
SAFE Working Paper No. 78
Macro Finance SAFE Working Paper2014Austerity, credit rationing, default, incomplete information, investment, growth, pooling equilibrium, separating equilibrium
Òscar Jordà, Alan M. TaylorThe Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
SAFE Working Paper No. 79
Macro Finance SAFE Working Paper2014fiscal multipliers, booms, slumps, output fluctuations, allocation bias, matching, Rubin Causal Model, average treatment effect, propensity score, inverse probability weighting, regression adjustment, local projection, identification
Enrique G. Mendoza, Linda L. Tesar, Jing ZhangSaving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
SAFE Working Paper No. 80
Macro Finance SAFE Working Paper2014European debt crisis, tax competition, capacity utilization, fiscal austerity
Jens-Hinrich BinderResolution Planning and Structural Bank Reform within the Banking Union
SAFE Working Paper No. 81
Financial Intermediation SAFE Working Paper2015Bank Resolution, Resolution Planning, Living Wills, Structural Bank Reform, Banking Union
Patrick GrüningInternational Endogenous Growth, Macro Anomalies, and Asset Prices
SAFE Working Paper No. 83
Financial Markets SAFE Working Paper2015Innovation, Product Market Competition, Endogenous Growth, Long-run Risk, International Finance
Alfons J. WeichenriederAusterity and Growth – Concepts for Europe
SAFE Policy Letter Collection No. 1, 2015
Macro Finance Policy Paper2015Fiscal Consolidation, Sovereign Debt, Growth
Matthias ThiemannThe Regulation of Repo Markets: Incorporating Public Interest through a Stronger Role of Civil Society
White Paper No. 25
Financial Markets Policy Paper2015Repo Markets, Shadow Banking, Non-governmental Organizations
Otmar IssingDie letzte Waffe - Helicopter Money?
Press Article, 2015
Macro Finance Policy Paper2015Quantitative Easing, European Central Bank, Geldpolitik
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana SchimetschekWill They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum
SAFE Working Paper No. 84
Household Finance SAFE Working Paper2015Annuity, lump sum, Social Security, delayed retirement, lifetime income, pension
Volker Wieland, Maik WoltersZwei Makrooekonomen gewinnen den Nobelpreis
Policy Letter No. 04, 2012
Macro Finance Policy Paper2012makroökonomische Konjunkturforschung, vektorautoregressive Modelle, monetäre Makroökonomik
Volker Wieland, Maik WoltersMacroeconomic Model Comparisons and Forecast Competition
Policy Letter No. 03, 2012
Macro Finance Policy Paper2012macroeconomic models, financial models, forecasting
Helmut Siekmann, Volker WielandSchlechte Erfahrungen
Policy Letter No. 02, 2012
Financial Intermediation Policy Paper2012Finanztransaktionssteuer, Bankenaufsicht
Helmut Siekmann, Patrick TuschlConstitutional Ruling on Court of Auditors’ Review of Banks
Policy Letter No. 01, 2012
Law and Finance Policy Paper2012fiscal responsibility, control by Court of Auditors
Helmut GründlStellungnahme zum Gesetzentwurf der Bundesregierung: Finanzkonglomerate-Aufsichtsgesetz
Policy Letter No. 7
Financial Intermediation Policy Paper2013Finanzkonglomerate; Eigenmittelanforderungen; Aufsichtsbehörde; BaFin; Bundesbank
Athanasios OrphanidesWhat Happened in Cyprus
Policy Letter No. 6
Macro Finance Policy Paper2013financial crisis, troika, Cyprus
Hans-Joachim Böcking, Marius Gros, Daniel WorretStellungnahme zu aktuellen Formulierungsvorschlägen für Änderungen am Deutschen Corporate Governance Kodex
Policy Letter No. 5
Law and Finance Policy Paper2013Deutscher Corporate Governance Kodex, Financial Expert, Prüfungsausschuss, Vorstandsvergütung, Aufsichtsratsvergütung
Jan Pieter Krahnen, Thomas MayerManagementvergütung im Bankensektor
Policy Letter No. 4
Law and Finance Policy Paper2013Boni, Bail-in Anleihen, Liikanen-Kommission
Andreas Hackethal, Jan Pieter KrahnenKommentierung des “Entwurf eines Gesetzes zur Abschirmung von Risiken und zur Planung der Sanierung and Abwicklung von Kreditinstituten und Finanzgruppen”
Policy Letter No. 3
Financial Intermediation Policy Paper2013Handelsgeschäft, Einlagengeschäft, Risiko
Helmut GründlBeteiligung der Versicherungsnehmer an den Bewertungsreserven in der Lebensversicherung
Policy Letter No. 2
Financial Intermediation Policy Paper2013Lebensversicherungen, Garantiezins, Bewertungsreserven
Michael HaliassosSalary Cuts and Competitiveness
Policy Letter No. 1
Macro Finance Policy Paper2013Greek economic crisis, productivity, structural reforms
Theodor BaumsDie gerichtliche Kontrolle von Beschlüssen der Gläubigerversammlung
White Paper No. 7, 2008
Law and Finance Policy Paper2008Gläubigerversammlung
Theodor BaumsZur monistischen Verfassung der deutschen Aktiengesellschaft. Überlegungen de lege ferenda
White Paper No. 6, 2008
Law and Finance Policy Paper2008Corporate Governance, Unternehmensverfassung
Theodor Baums, Florian DrinhausenZur Anfechtung von Hauptversammlungsbeschlüssen - rechtspolitische Vorschläge
White Paper No. 5, 2008
Law and Finance Policy Paper2008Anfechtungsklage
Katrin Assenmacher-Wesche, Stefan GerlachEnsuring Financial Stability: Financial Structure and the Impact of Monetary Policy and Asset Prices
White Paper No. 4, 2008
Macro Finance Policy Paper2008asset prices, monetary policy, panel VAR
Jan Pieter KrahnenStellungnahme zum Referentenentwurf "Risikobegrenzungsgesetz"
White Paper No. 2, 2008
Law and Finance Policy Paper2008Corporate Governance, Finanzinnovationen
Theodor BaumsEuropäische Modellgesetze im Gesellschaftsrecht
White Paper No. 1, 2008
Law and Finance Policy Paper2008Modellgesellschaftsgesetze
Theodor BaumsZur Deregulierung des Depotstimmrechts
White Paper No. 2, 2007
Law and Finance Policy Paper2007Depotstimmrecht
Theodor BaumsThe Law of Corporate Finance in Europe - an Essay
White Paper No. 1, 2007
Law and Finance Policy Paper2007corporate finance
Jan Pieter Krahnen, Theodor WeimerDie Auswirkungen von Regulierung auf Bankverhalten und Wettbewerb
Policy Letter No. 12
Financial Intermediation Policy Paper2013Bail-in Anleihen, Banken, Regulierung, Liikanen-Kommission
Roman Beck, Wolfgang König, Immanuel Pahlke, Martin WolfMindfully Resisting the Bandwagon – IT Implementation and Its Consequences in the Financial Crisis
Policy Letter No. 10
Financial Markets Policy Paper2013IT innovations, financial services
Jens Gal, Helmut GründlOwn Risk and Solvency Assessment Within the Solvency II Framework and its Interplay with the Quantitative Solvency Capital Requirements
Policy Letter No. 11
Financial Intermediation Policy Paper2013Insurance, Solvency II, Own Risk and Solvency Assessment
Helmut Siekmann, Volker WielandThe European Central Bank’s Outright Monetary Transactions and the Federal Constitutional Court of Germany
White Paper No. 4
Macro Finance Policy Paper2013ECB, OMT, monetary policy, fiscal policy
Dilek Bülbül, Reinhard H. Schmidt, Ulrich SchüwerSavings Banks and Cooperative Banks in Europe
White Paper No. 5
Financial Intermediation Policy Paper2013national systems of local banks, bank competition, performance indicators
Elke KönigGesprächsreihe zu Strukturreformen im europäischen Bankensektor: Wiederherstellung privater Haftung und die zukünftige Rolle der Aufsicht
Policy Letter No. 13
Financial Intermediation Policy Paper2013Bail-in Anleihen, Banken, Aufsicht, Liikanen-Kommission
Otmar IssingChallenges for Monetary Policy
White Paper No. 7
Macro Finance Policy Paper2013ECB, OMT, central banking
Jan Pieter KrahnenRettung durch Regulierung? Eckpunkte des Liikanen-Berichts
White Paper No. 8
Financial Intermediation Policy Paper2013Liikanen-Kommission, Bail-in, Trennbanken, Bankenunion
Tobias TrögerDer einheitliche Abwicklungsmechanismus – Europäisches Allheilmittel oder weiße Salbe?
Policy Letter No. 14
Financial Intermediation Policy Paper2013Bankenunion, SRM, Abwicklungsinstrumente, Bail-in
Hans-Joachim Böcking, Marius Gros, Daniel WorretCommentary on ESMA Guidelines on Enforcement of Financial Information
Policy Letter No. 15
Law and Finance Policy Paper2013Enforcement, ESMA, financial reporting quality, restatements
Jan Pieter KrahnenRescue by Regulation? Key Points of the Liikanen Report
White Paper No. 9
Financial Intermediation Policy Paper2013Liikanen Commission, Bail-in, Banking Separation, Banking Union
Jan Pieter KrahnenDesigning the Funding Side of the Single Resolution Mechanism (SRM): A Proposal for a Layered Scheme with Limited joint Liability
White Paper No. 10
Financial Intermediation Policy Paper2013Banking Union, Single Resolution Mechanism
Jan Pieter KrahnenA Big Bang for Banking in Europe
Policy Letter No. 16
Financial Intermediation Policy Paper2013comprehensive assessment, banking supervision, euro area
Peter Gomber, Martin Haferkorn, Kai ZimmermannSecurities Transaction Tax in France: Impact on Market Quality and Inter-Market Price Coordination
White Paper No. 11
Financial Intermediation Policy Paper2014financial transaction tax, market fragmentation, speculative trading, market quality
Jan Pieter KrahnenFinanzmärkte: Mut zu radikaler Ordnungspolitik
Policy Letter No. 17
Financial Intermediation Policy Paper2013Finanzkrise, Bankenunion, Regulierung, Ordnungspolitik
Ester FaiaSurveillance of peer to peer payment systems and peer to peer lending platforms
Policy Letter No. 18
Financial Intermediation Policy Paper2014financial innovation, peer to peer payment systems, Bitcoin, regulation
Ester FaiaPolitically Acceptable Debt Restructuring in the Euro Zone: Is it Really Better than the Redemption Fund?
Policy Letter No. 19
Macro Finance Policy Paper2014public debt, debt restructuring
Alfons J. WeichenriederEnergiewende, Butterberge und das Kiwi-in-Grönland-Problem
Policy Letter No. 20
Macro Finance Policy Paper2014Erneuerbare-Energien-Gesetz, Energiewende, Steuergelder
Otmar Issing, Jan Pieter KrahnenTranscript of a Hearing before Members of the House of Lords (UK) in Frankfurt on Genuine Economic and Monetary Union and its Implication for the UK
Policy Letter No. 21
Macro Finance Policy Paper2014Monetary Union, European Central Bank, Outright Monetary Transactions, UK
Otmar Issing, Jan Pieter Krahnen, Klaus Regling, William WhiteRecommendations by the Issing Commission – Memo for the G-20 November 2011 Summit in Cannes
White Paper No. 04, 2012
Financial Intermediation Policy Paper2012shadow banking, systemic risk analysis, regulatory arbitrage
Peter GomberHigh-Frequency-Trading: Zwischen Nutzeffekten und Risiken
Press Article No. 8, 2011
Financial Markets Policy Paper2011Wertpapiermärkte, High Frequency Trading, Regulierung
Helmut SiekmannStellungnahme zum Entwurf eines Zweiten Gesetzes zur Umsetzung eines Maßnahmenpakets zur Stabilisierung des Finanzmarktes
White Paper No. 03, 2012
Financial Intermediation Policy Paper2012Finanzmarktrecht, BaFin, FMSA
Reinhard H. SchmidtEin Plädoyer für Banken-Vielfalt
Press Article No. 5, 2011
Financial Intermediation Policy Paper2011Drei-Säulen-System, Bankensektor, Finanzkrise
Alfons J. WeichenriederDas Prinzip der Selbstbindung
Press Article No. 3, 2011
Macro Finance Policy Paper2011Schuldenbremse, Haushaltspolitik, Staatsverschuldung
Volker WielandNext Hike End of 2014: FOMC Matches Historical Responses to Member’s Forecasts and Risks Repeating Earlier Mistakes
White Paper No. 02, 2012
Macro Finance Policy Paper2012federal funds rate, interest rates, inflation forecasts
Stefan GerlachEuropas Staaten brauchen Stresstests
Press Article No. 2, 2011
Macro Finance Policy Paper2011Stabilitäts- und Wachstumspakt, Fiskalpolitik
Theodor Baums, Roland SchmidtbleicherNeues Schuldverschreibungsrecht und Altanleihen
White Paper No. 01, 2012
Law and Finance Policy Paper2012Collective Action Clauses, Anleihen, Umstrukturierung
Stefan GerlachNotenbanker müssen zunehmend Finanzmarkterfahrung haben
Press Article No. 1, 2011
Macro Finance Policy Paper2011Ernennungspraxis von Zentralbankern, Finanzfachkenntnis, moderne Notenbanker
Hans-Joachim Böcking, Marius Gros, Christoph Wallek, Daniel WorretDas Grünbuch der EU-Kommission „Weiteres Vorgehen im Bereich der Abschlussprüfung: Lehren aus der Krise“ – Eine Auswertung der Stellungnahmen des Konsultationsprozesses
White Paper No. 12, 2011
Law and Finance Policy Paper2011Abschlussprüfung, Finanzkrise, EU Grünbuch, Konsultationsprozess
Günter Franke, Jan Pieter KrahnenEin staatliches Hospital für kranke Banken
Press Article No. 2, 2010
Financial Intermediation Policy Paper2010Systemisches Risiko, Bankenhospital
Volker WielandDem Druck standhalten
Press Article No. 3, 2009
Macro Finance Policy Paper2009Geldpolitik, EZB
Hans-Joachim Böcking, Marius Gros, Christoph Wallek, Daniel WorretAnalysis of the EU Consultation on the Green Paper “Audit Policy: Lessons from the Crisis”
White Paper No. 11, 2011
Law and Finance Policy Paper2011Audit Policy, Financial Crisis, EU Green Paper, Consultation Process
Stefan GerlachCan Monetary Policy Really be Used to Stabilise Asset Prices?
Policy Letter No. 1, 2008
Macro Finance Policy Paper2008monetary policy, asset prices
Volker WielandEurozone Stimulus: A Myth, Some Facts, and Estimates
Policy Letter No. 2, 2009
Macro Finance Policy Paper2009fiscal stimulus packages
Theodor Baums, Florian Drinhausen, Astrid KeinathAnfechtungsklagen und Freigabeverfahren. Eine empirische Studie
White Paper No. 10, 2011
Law and Finance Policy Paper2011Aktionärsrechte, Berufskläger, Anlegerschutz
Volker Wieland"Neue" Regeln für die Notenbanken?
Policy Letter No. 1, 2009
Macro Finance Policy Paper2009Geldpolitik, Taylor-Regel
Helmut SiekmannLaw and Economics of the Monetary Union
White Paper No. 9, 2011
Macro Finance Policy Paper2011Euro, sovereign debt crisis, legal foundations
Helmut SiekmannDas neue System der Europäischen Finanzmarktaufsicht
White Paper No. 8, 2011
Financial Intermediation Policy Paper2011Regulierung, Finanzaufsicht, Systemrisiken
Hans-Helmut Kotz, Jan Pieter Krahnen, Christian Leuz, Helmut SiekmannEurobonds zur Bewältigung der europäischen Krise? Wegweisung zu einer modernen Entwicklungsunion
White Paper No. 7, 2011
Macro Finance Policy Paper2011Eurobonds, Staatsschuldenkrise, Europäische Union
Hans-Joachim Böcking, Marius GrosComment on the European Commission's Green Paper "Audit Policy: Lessons from the Crisis"
Policy Letter No. 16, 2010
Law and Finance Policy Paper2010audit quality, expectation gap, regulation
Heinz Hilgert, Jan Pieter Krahnen, Günther Merl, Helmut SiekmannOn a Fundamental Reorganisation of the Landesbanks and Savings Banks Sector in Germany
White Paper No. 2, 2011
Financial Intermediation Policy Paper2011Landesbanks and savings banks sector; public law financial system
Stefan GerlachStrengthening the Institutional Underpinnings of the Euro
Policy Letter No. 14, 2010
Macro Finance Policy Paper2010Stability and Growth Pact, fiscal policy, public debt
Theodor BaumsUnternehmen und Ethik
Policy Letter No. 13, 2010
Law and Finance Policy Paper2010Rechtsnormen, ethische Normen, Wirtschaftsverfassung
Heinz Hilgert, Jan Pieter Krahnen, Günther Merl, Helmut SiekmannStreitschrift für eine grundlegende Neuordnung des Sparkassen- und Landesbankensektors in Deutschland
White Paper No. 1, 2011
Financial Intermediation Policy Paper2011Sparkassen- und Landesbankensektor, öffentlich rechtlicher Finanzsektor
Hermann RemspergerBasel III: Unvollendet, aber nicht allein
Policy Letter No. 12, 2010
Financial Intermediation Policy Paper2010Basel III, Eigenkapital, Finanzkrise, Insolvenzordnung
Stefan Gerlach, Peter TillmannInflation Targeting Matters in Asia
Policy Letter No. 11, 2010
Macro Finance Policy Paper2010inflation targeting
Stefan Gerlach, Peter TillmannInflation Targeting: In Asien besonders erfolgreich
Policy Letter No. 10, 2010
Macro Finance Policy Paper2010inflation targeting
Stefan GerlachMakroprudentielle Politik zur Stabilisierung der Finanzmärkte
Policy Letter No. 9, 2010
Macro Finance Policy Paper2010makroprudentielle Instrumente, Regulierung
Volker WielandLiquidity Management and the Reform of the International Monetary System
White Paper No. 4, 2011
Macro Finance Policy Paper2011international monetary system, reserve currencies, liquidity
Björn Arndt, Peter Gomber, Marco Lutat, Tim UhleHigh Frequency Trading
White Paper No. 3, 2011
Financial Markets Policy Paper2011algorithmic trading, high-frequency trading, regulation
Theodor BaumsReport of the Reflection Group on the Future of EU Company Law
White Paper No. 5, 2011
Law and Finance Policy Paper2011EU-harmonization, corporate governance, regulation, cross-border mobility
Michael Haliassos, Dimitri VayanosGetting Greece Back on Track: How?
White Paper No. 6, 2011
Macro Finance Policy Paper2011financial crisis, structural reforms, productivity
Stefan GerlachA Credible Stability and Growth Pact: Raising the Bar for Budgetary Transparency
Policy Letter No. 5, 2010
Macro Finance Policy Paper2010public debt, ECB
Volker WielandHow to be a good European...
Policy Letter No. 4, 2010
Macro Finance Policy Paper2010Schuldenkrise
Stefan GerlachG20 and Macroprudential Policy
Policy Letter No. 3, 2010
Macro Finance Policy Paper2010At the upcoming G20 meetings the issue what can be done to avoid a repetition of the current deep financial crisis will again be debated. Much attention and criticism will be directed to central banks. That is unavoidable: central banks must never again p
Stefan GerlachEU Economic Governance
White Paper No. 26, 2010
Macro Finance Policy Paper2010Stability and Growth Pact, Excessive Imbalance Procedure, national fiscal frameworks
Volker WielandThe Fiscal Stimulus Debate "Bone-Headed" and "Neanderthal"?
Policy Letter No. 3, 2009
Macro Finance Policy Paper2009fiscal policy, new Keynesian macroeconomic models
Stefan Gerlach, Emilie YooZur Stärkung der Deutschen Bundesbank
Policy Letter No. 1, 2010
Macro Finance Policy Paper2010Die zum Ende April 2010 frei werdenden zwei Vorstandsposten in der Deutschen Bundesbank haben bereits Anfang des Jahres eine lebhafte Debatte über mögliche Kandidaten ausgelöst. Die Diskussion über eine weitaus wesentlichere Frage, nämlich welche fachlich
Peter Gomber, Markus Gsell, Marco LutatCompetition Among Electronic Markets and Market Quality
White Paper No. 25, 2010
Financial Markets Policy Paper2010MiFID, market fragmentation,liquidity
Theodor BaumsLow Balling, Creeping In und deutsches Übernahmerecht
White Paper No. 24, 2010
Law and Finance Policy Paper2010feindliche Übernahme, Hauptversammlungsmehrheit, Meldepflichten
Otmar Issing, Jan Pieter Krahnen, Klaus Regling, William WhiteRecommendations by the Issing Commission - Memo for the G-20 Summit in Seoul
White Paper No. 23, 2010
Financial Intermediation Policy Paper2010Basel III, systemic risk, liquidity support
Peter Gomber, Axel PierronMiFID - Spirit and Reality of a European Financial Markets Directive
White Paper No. 22, 2010
Financial Markets Policy Paper2010MiFID, regulation, securities trading
Stefan GerlachAsset Prices and Monetary Policy: Some Skeptical Observations
White Paper No. 9, 2009
Macro Finance Policy Paper2009monetary policy, macroecomomic fluctuations, regulation
Jan Pieter Krahnen, Helmut SiekmannStellungnahme zum "Restrukturierungsgesetz"
White Paper No. 20, 2010
Financial Intermediation Policy Paper2010Systemisches Risiko, Restruktuierung, Abwicklung
Stefan Gerlach, Alexander Schulz, Guntram B. WolffBanking and Sovereign Risk in the Euro Area
White Paper No. 19, 2010
Macro Finance Policy Paper2010sovereign bond markets, banking, liquidity, EMU
Theodor BaumsManagerhaftung und Verjährungsfrist
White Paper No. 17, 2010
Law and Finance Policy Paper2010Organhaftungsregeln, Verjährungsfristen
Helmut SiekmannDie Finanzmarktaufsicht in der Krise
White Paper No. 16, 2010
Financial Intermediation Policy Paper2010Finanzmarktaufsicht, Ratingagenturen, Abwicklung
Helmut SiekmannUrsachen, Auswirkungen und Lehren der Finanzkrise: Eine systematische Bestandsaufnahme
White Paper No. 15, 2010
Financial Intermediation Policy Paper2010Systemisches Risiko, Finanzaufsicht
Otmar Issing, Jan Pieter KrahnenCriteria for a Workable Approach Towards Bank Levies and Bank Restructuring
White Paper No. 14, 2010
Financial Intermediation Policy Paper2010systemic risk, bank resolution
Stefan GerlachThe Greek Sovereign Debt Crisis and ECB Policy
White Paper No. 12, 2010
Macro Finance Policy Paper2010public debt, ECB
Stefan GerlachAre the Golden Years of Central Banking Over? Monetary Policy after the Crisis
White Paper No. 10, 2010
Macro Finance Policy Paper2010monetary policy, public debt, central banks
Theodor BaumsRisiko und Risikosteuerung im Aktienrecht
White Paper No. 9, 2010
Law and Finance Policy Paper2010Risikomanagement, Vorstandspflichten
Günter Franke, Jan Pieter KrahnenDie Rolle von Anreizen für die Zukunfts der Kreditverbriefung
White Paper No. 5, 2009
Financial Intermediation Policy Paper2009Kreditverbriefung, Agency Theorie, Vergütungssysteme
Stefan GerlachThe Risk of Deflation
White Paper No. 4, 2009
Macro Finance Policy Paper2009deflation, monetary policy, fiscal policy
Stefan GerlachFuture Development of Global Imbalances
White Paper No. 4, 2010
Macro Finance Policy Paper2010current account balances, international monetary system, G20
Jan Pieter Krahnen, Helmut SiekmannRescue Strategy Without Moral Hazard – An Attempt to Provide a Master Plan for Avoiding Banking Crises
White Paper No. 3, 2010
Financial Intermediation Policy Paper2010systemic risk, banking hospital
Jan Pieter Krahnen, Helmut SiekmannRettungsstrategie ohne Moral Hazard – Versuch eines Gesamtkonzepts zur Bankkrisenvermeidung
White Paper No. 2, 2010
Financial Intermediation Policy Paper2010Systemisches Risiko, Bankenhospital
Theodor BaumsDie Unabhängigkeit des Vergütungsberaters
White Paper No. 1, 2010
Law and Finance Policy Paper2010Corporate Governance-Kodex, Vergütungsberater
Stefan GerlachDefining and Measuring Systemic Risk
White Paper No. 8, 2009
Financial Intermediation Policy Paper2009systemic risk, statistical risk measurement
Helmut SiekmannStabilisierung der WestLB AG durch Garantien des Landes NRW
White Paper No. 7, 2009
Financial Intermediation Policy Paper2009Landesbanken
Helmut SiekmannDie Neuordnung der Finanzmarktaufsicht
White Paper No. 6, 2009
Financial Intermediation Policy Paper2009Finanzmärkte, Rechtsordnung
Gregor Bachmann, Theodor Baums, Mathias Habersack, Martin Henssler, Marcus Lutter, Hartmut Oetker, Peter UlmerEntwurf einer Regelung zur Mitbestimmungsvereinbarung und zur Größe des mitbestimmten Aufsichtsrats
White Paper No. 3, 2009
Law and Finance Policy Paper2009Mitbestimmungsrecht
Helmut SiekmannDie Schaffung von Einrichtungen der Finanzaufsicht auf EU-Ebene
White Paper No. 2, 2009
Financial Intermediation Policy Paper2009Gemeinschaftsagenturen, Finanzmarktaufsicht
Theodor BaumsAnschleichen an Übernahmeziele mittels Cash Settled Equity Derivaten - ein Regelungsvorschlag
White Paper No. 1, 2009
Law and Finance Policy Paper2009Unternehmensübernahmen, Equity Swaps
Michael HaliassosVerschwenderische Südeuropäer?
Policy Letter No. 25, 2011
Macro Finance Policy Paper2011Staatsschuldenkrise, Europäische Währungsunion, Arbeitsproduktivität
Michael HaliassosProdigal Italy Greece Spain?
Policy Letter No. 24, 2011
Macro Finance Policy Paper2011http://safe-frankfurt.de/policy-publications/administrator/components/com_jresearch/files/publications/Haliassos_Prodigal_Italy_Greece_Spain.pdf
Hermann RemspergerOrdnungspolitik gegen Systemrisiken
Policy Letter No. 23, 2011
Macro Finance Policy Paper2011systemisches Risiko, Geldpolitik
Otmar IssingDer Weg in die Knechtschaft
Policy Letter No. 22, 2011
Macro Finance Policy Paper2011Freiheit, soziale Marktwirtschaft, Basisdemokratie
Bertram SchefoldEuropa - wohin
Policy Letter No. 21, 2011
Macro Finance Policy Paper2011Europäische Währungsunion, Strukturanpassungen, Europäische Integration
Jan Pieter KrahnenKluge Finanzarchitektur zur Begrenzung des systemischen Risikos
Policy Letter No. 20, 2011
Financial Intermediation Policy Paper2011systemisches Risiko, too-big-to-fail, Regulierung
Volker WielandStellungnahme zum Antrag der SPD-Fraktion auf Einführung einer Finanztransaktionssteuer in Europa
Policy Letter No. 19, 2011
Financial Intermediation Policy Paper2011Finanztransaktionssteuer, Finanzinnovationen, Finanzspekulation
Volker WielandRational Learning About Rare-Disaster Frequencies: A Persistent Source of Asset-Price Overreaction
Policy Letter No. 14, 2011
Financial Markets Policy Paper2011asset prices, comsumer beliefs, Bayesian learning
Helmut Gründl, Hato SchmeiserLong-Term Guarantees and the Countercyclical Premium Under Solvency II
Policy Letter No. 15, 2011
Financial Intermediation Policy Paper2011insurance supervision, capital requirements, Solvency II
Helmut SiekmannRechtsbrüche im Euroraum
Policy Letter No. 13, 2011
Macro Finance Policy Paper2011Europäische Währungsunion, Währungsrecht, Europarecht
Stefan Gerlach, Laura MorettiGeldpolitik vor der Krise
Policy Letter No. 12, 2011
Macro Finance Policy Paper2011Geldpolitik, reale Zinssätze, Finanzkrise
Stefan Gerlach, Laura MorettiMonetary Policy Before the Crisis
Policy Letter No. 11, 2011
Macro Finance Policy Paper2011monetary policy, real interest rates, financial crisis
Hermann RemspergerEin makroprudenzielles Mandat für die Bundesbank
Policy Letter No. 10, 2011
Macro Finance Policy Paper2011makroprudenzielle Regulierung, Finanzstabilität, Bundesbank
Hans-Joachim Böcking, Marius GrosComment on the European Commission's Green Paper "The EU Corporate Governance Framework"
Policy Letter No. 9, 2011
Law and Finance Policy Paper2011corporate governance, supervisory board, shareholder activism
Reinhard H. SchmidtRatingagenturen entmachten - aber wie?
Policy Letter No. 8, 2011
Financial Intermediation Policy Paper2011Ratingagenturen, Marktmacht
Jan Pieter Krahnen"Politiker wollen die Wahrheit nicht hören"
Policy Letter No. 7, 2011
Financial Intermediation Policy Paper2011Ratingagenturen, Schuldenkrise
Jan Pieter KrahnenThe Bail-In Puzzle
Policy Letter No. 6, 2011