SAFE Working Paper Series

No.Author/sTitlePublishedPublication SeriesAreaYearKeywordsAuthorCreation DateTypeArea
416 Olga Balakina,
Claes Bäckman,
Anastasiia Parakhoniak
Beyond Connectivity: Stock Market Participation in a Network
SAFE Working Paper No. 416
Mar 2023 Working Papers Household Finance 1677625200SAFE Working Paper
415Monica Billio, Aoife Fitzpatrick,
Carmelo Latino,
Loriana Pelizzon
Unpacking the ESG Ratings: Does One Size Fit All?
SAFE Working Paper No. 415
Feb 2024 Working Papers Financial Markets 1706742000SAFE Working Paper
414 Peter Andre,
Teodora Boneva, Felix Chopra, Armin Falk
Misperceived Social Norms and Willingness to Act Against Climate Change
SAFE Working Paper No. 414
Feb 2024 Working Papers Household Finance, 1706742000SAFE Working Paper
413 Errikos Melissinos Real Term Premia in Consumption-Based Models
SAFE Working Paper No. 413
Jan 2024 Working Papers 1704063600SAFE Working Paper
412Max Grossmann, Andreas Hackethal,
Marten Laudi, Thomas Pauls
Conform to the Norm. Peer Information and Sustainable Investments
SAFE Working Paper No. 412
Dec 2023 Working Papers Household Finance 1701385200SAFE Working Paper
411 Peter Andre,
Marc Kaufmann, Botond Köszegi
Understanding Markets with Socially Responsible Consumers
SAFE Working Paper No. 411
Dec 2023 Working Papers Household Finance, 1701385200SAFE Working Paper
410 Carmelo Latino Surfing the Green Wave: What’s in a “Green” Name Change?
SAFE Working Paper No. 410
Dec 2023 Working Papers Financial Markets 1701385200SAFE Working Paper
409Kevin Bauer, Yan Chen, Florian Hett,
Michael Kosfeld
Group Identity and Belief Formation: A Decomposition of Political Polarization
SAFE Working Paper No. 409
Dec 2023 Working Papers 1701385200SAFE Working Paper
408Robert F. Dittmar, Christian Schlag,
Julian Thimme
Non-Substitutable Consumption Growth Risk
SAFE Working Paper No. 408
Dec 2023 Working Papers Financial Markets 1701385200SAFE Working Paper
407Michele Costola, Matteo Iacopini, Casper WichersBayesian SAR Model with Stochastic Volatility and Multiple Time-Varying Weights
SAFE Working Paper No. 407
Nov 2023 Working Papers Financial Markets 1698793200SAFE Working Paper
406 Peter Andre,
Philipp Schirmer,
Johannes Wohlfart
Mental Models of the Stock Market
SAFE Working Paper No. 406
Nov 2023 Working Papers Household Finance, Financial Markets, 1698793200SAFE Working Paper
405 Peter Andre Shallow Meritocracy
SAFE Working Paper No. 405
Oct 2023 Working Papers Household Finance, 1696111200SAFE Working Paper
404Christian Alemán-Pericón, Christopher Busch,
Alexander Ludwig,
Raül Santaeulàlia-Llopis
Stage-Based Identification of Policy Effects
SAFE Working Paper No. 404
Oct 2023 Working Papers Macro Finance 1696111200SAFE Working Paper
403Monica Billio, Roberto Casarin, Michele CostolaLearning from Experts: Energy Efficiency in Residential Buildings
SAFE Working Paper No. 403
Oct 2023 Working Papers Financial Markets 1696111200SAFE Working Paper
402Julian Detemple, Michael Kosfeld Fairness and Inequality in Institution Formation
SAFE Working Paper No. 402
Sep 2023 Working Papers Household Finance, 1693519200SAFE Working Paper
401Kevin Bauer, Oliver Hinz,
Michael Kosfeld,
Lena Liebich
Decoding GPT’s Hidden ‘Rationality’ of Cooperation
SAFE Working Paper No. 401
Sep 2023 Working Papers Household Finance, 1693519200SAFE Working Paper
400 Andreas Hackethal,
Philip Schnorpfeil, Michael Weber
Households’ Response to the Wealth Effects of Inflation
SAFE Working Paper No. 400
Sep 2023 Working Papers Household Finance 1693519200SAFE Working Paper
399 Raimond Maurer,
Sehrish Usman
Dynamics of Life Course Family Transitions in Germany: Exploring Patterns, Process and Relationships
SAFE Working Paper No. 399
Sep 2023 Working Papers Household Finance 1693519200SAFE Working Paper
398 Pantelis Karapanagiotis,
Marius Liebald
Entity Matching with Similarity Encoding: A Supervised Learning Recommendation Framework for Linking (Big) Data
SAFE Working Paper No. 398
Aug 2023 Working Papers Law and Finance, 1690840800SAFE Working Paper
397Matteo Bagnara, Milad GoodarziClustering-Based Sector Investing
SAFE Working Paper No. 397
Aug 2023 Working Papers Financial Markets 1690840800SAFE Working Paper
396Nils Grevenbrock, Alexander Ludwig,
Nawid Siassi
Homeownership Rates, Housing Policies, and Co-Residence Decisions
SAFE Working Paper No. 396
Jul 2023 Working Papers Macro Finance 1688162400SAFE Working Paper
395 Ruggero Jappelli,
Loriana Pelizzon,
Marti Subrahmanyam
Quantitative Easing, the Repo Market, and the Term Structure of Interest Rates
SAFE Working Paper No. 395
Jul 2023 Working Papers Financial Markets 1688162400SAFE Working Paper
394Kevin Bauer, Oliver Hinz,
Moritz von Zahn
Please Take Over: XAI, Delegation of Authority, and Domain Knowledge
SAFE Working Paper No. 394
Jul 2023 Working Papers Financial Intermediation, 1688162400SAFE Working Paper
393 Michael Kosfeld,
Zahra Sharafi
The Preference Survey Module: Evidence on Social Preferences from Tehran
SAFE Working Paper No. 393
Jul 2023 Working Papers Household Finance, 1688162400SAFE Working Paper
392 Christian Mücke Bank Dividend Restrictions and Banks’ Institutional Investors
SAFE Working Paper No. 392
Jul 2023 Working Papers Financial Markets 1688162400SAFE Working Paper
391 Carmelo Latino,
Loriana Pelizzon,
Max Riedel
How to Green the European Auto ABS Market? A Literature Survey
SAFE Working Paper No. 391
Jun 2023 Working Papers Financial Markets 1685570400SAFE Working Paper
390Kamelia Kosekova, Angela Maddaloni, Melina Papoutsi, Fabiano SchivardiFirm-Bank Relationships: A Cross-Country Comparison
SAFE Working Paper No. 390
Jun 2023 Working Papers Financial Markets 1685570400SAFE Working Paper
389Stefan Goldbach, Philipp Harms, Axel Jochem,
Volker Nitsch, Alfons J. Weichenrieder
Retained Earnings and Foreign Portfolio Ownership: Implications for the Current Account Debate
SAFE Working Paper No. 389
May 2023 Working Papers Macro Finance 1682892000SAFE Working Paper
388Gill Segal, Ivan ShaliastovichUncertainty, Risk, and Capital Growth
SAFE Working Paper No. 388
May 2023 Working Papers Financial Markets 1682892000SAFE Working Paper
387Michele Costola, Katia Vozian Pricing Climate Transition Risk: Evidence from European Corporate CDS
SAFE Working Paper No. 387
May 2023 Working Papers Financial Markets 1682892000SAFE Working Paper
386Alperen Afşin Gözlügöl, Wolf-Georg RingeNet-Zero Transition and Divestments of Carbon-Intensive Assets
SAFE Working Paper No. 386
May 2023 Working Papers Law and Finance 1682892000SAFE Working Paper
385Angela MaddaloniLiquidity Support and Distress Resilience in Bank-Affiliated Mutual Funds
SAFE Working Paper No. 385
Mar 2023 Working Papers Financial Intermediation 1677625200SAFE Working Paper
384 Julian Greth,
Alperen Afşin Gözlügöl, Tobias Tröger
The Oscillating Domains of Public and Private Markets
SAFE Working Paper No. 384
Mar 2023 Working Papers Law and Finance 1677625200SAFE Working Paper
383Satyajit Dutt, Jan Wedigo RadermacherAge, Wealth, and the MPC in Europe - A Supervised Machine Learning Approach
SAFE Working Paper No. 383
Feb 2023 Working Papers Household Finance 1675206000SAFE Working Paper
382Jan Wedigo RadermacherMamma Mia! Revealing Hidden Heterogeneity by PCA-Biplot - MPC Puzzle for Italy’s Elderly Poor
SAFE Working Paper No. 382
Feb 2023 Working Papers Household Finance 1675206000SAFE Working Paper
381Olga Goldfayn-Frank, Nathanael VellekoopThe Role of Personality Traits in Household Loan Expectations and Borrowing Constraints
SAFE Working Paper No. 381
Jan 2023 Working Papers Financial Intermediation, Household Finance 1672527600SAFE Working Paper
380 Alexander Hillert,
Alexandra Niessen-Ruenzi, Stefan Ruenzi
Mutual Fund Shareholder Letters: Flows, Performance, and Managerial Behavior
SAFE Working Paper No. 380
Feb 2023 Working Papers Financial Markets, 1675206000SAFE Working Paper
379Irene Mecatti, Tobias Tröger Who Should Hold Bail-Inable Debt and How can Regulators Police Holding Restrictions Effectively?
SAFE Working Paper No. 379
Jan 2023 Working Papers Law and Finance 1672527600SAFE Working Paper
378Sabine Bernard, Benjamin Loos, Martin WeberHow Speculative Asset Characteristics Shape Retail Investors’ Selling Behavior
SAFE Working Paper No. 378
Jan 2023 Working Papers Household Finance 1672527600SAFE Working Paper
377Konstantin EgorovOptimal Policy under Dollar Pricing
SAFE Working Paper No. 377
Jan 2023 Working Papers Macro Finance 1672527600SAFE Working Paper
376Raphael Abiry, Marien Ferdinandusse, Alexander Ludwig,
Carolin Nerlich
Climate Change Mitigation: How Effective is Green Quantitative Easing?
SAFE Working Paper No. 376
Dec 2022 Working Papers Macro Finance 1669849200SAFE Working Paper
375Abigail Hurwitz, Olivia S. Mitchell,
Orly Sade
Testing Methods to Enhance Longevity Awareness
SAFE Working Paper No. 375
Dec 2022 Working Papers Household Finance 1669849200SAFE Working Paper
374Franco Fiordelisi, Giulia Fusi, Angela Maddaloni, David Marqués-IbáñezPandemic Lending: Micro and Macro Effects of Model-Based Regulation
SAFE Working Paper No. 374
Dec 2022 Working Papers Financial Intermediation 1669849200SAFE Working Paper
373 Andreas Hackethal,
Tobin Hanspal, Emily Kormanyos
Do Gamblers Invest in Lottery Stocks?
SAFE Working Paper No. 373
Dec 2022 Working Papers Household Finance 1669849200SAFE Working Paper
372Alessandro Pollastri, Paulo Rodrigues, Christian Schlag,
Norman Seeger
A Jumping Index of Jumping Stocks? An MCMC Analysis of Continuous-Time Models for Individual Stocks
SAFE Working Paper No. 372
Dec 2022 Working Papers Financial Markets 1669849200SAFE Working Paper
371Mariano Massimiliano Croce, Tatyana Marchuk, Christian Schlag The Leading Premium
SAFE Working Paper No. 371
Dec 2022 Working Papers Financial Markets 1669849200SAFE Working Paper
370Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz,
Michael Nofer
The Effects of Discontinuing Machine Learning Decision Support
SAFE Working Paper No. 370
Dec 2022 Working Papers Financial Intermediation, 1669849200SAFE Working Paper
369 Katja Langenbucher Consumer Credit in The Age of AI – Beyond Anti-Discrimination Law
SAFE Working Paper No. 369
Dec 2022 Working Papers Law and Finance 1669849200SAFE Working Paper
368Vanya Horneff, Raimond Maurer,
Olivia S. Mitchell
How Would 401(k) ‘Rothification’ Alter Saving, Retirement Security, and Inequality?
SAFE Working Paper No. 368
Dec 2022 Working Papers Financial Markets 1669849200SAFE Working Paper
367Micha Bender, Benjamin Clapham, Peter Gomber,
Jens Lausen
Drivers and Effects of Stock Market Fragmentation - Insights on SME Stocks
SAFE Working Paper No. 367
Dec 2022 Working Papers Financial Markets 1669849200SAFE Working Paper
366Satchit Sagade, Stefan Scharnowski, Christian WestheideBroker Colocation and the Execution Costs of Customer and Proprietary Orders
SAFE Working Paper No. 366
Dec 2022 Working Papers Financial Markets 1669849200SAFE Working Paper
365 Caroline Fohlin,
Zhikun Lu, Nan Zhou
Short Sale Bans May Improve Market Quality During Crises: New Evidence from the 2020 Covid Crash
SAFE Working Paper No. 365
Dec 2022 Working Papers Financial Markets, 1669849200SAFE Working Paper
364 Rachel Nam Open Banking and Customer Data Sharing: Implications for FinTech Borrowers
SAFE Working Paper No. 364
Dec 2022 Working Papers Financial Markets 1669849200SAFE Working Paper
363Kevin Bauer, Oliver Hinz,
Johanna Jagow, Cristina Mihale-Wilson, Maximilian Speicher, Moritz von Zahn
The Smart Green Nudge: Reducing Product Returns through Enriched Digital Footprints & Causal Machine Learning
SAFE Working Paper No. 363
Oct 2022 Working Papers Financial Intermediation, 1664575200SAFE Working Paper
362Tabea Bucher-Koenen, Andreas Hackethal,
Johannes Kasinger, Christine Laudenbach
Disparities in Financial Literacy, Pension Planning, and Saving Behavior
SAFE Working Paper No. 362
Oct 2022 Working Papers Household Finance 1664575200SAFE Working Paper
361Ata Can Bertay, José Gabo Carreño Bustos, Harry Huizinga, Burak Uras, Nathanael VellekoopTechnological Change and the Finance Wage Premium
SAFE Working Paper No. 361
Oct 2022 Working Papers Macro Finance 1664575200SAFE Working Paper
360 Alfons J. Weichenrieder A Note on the Role of Monetary Policy When Natural Gas Supply Is Inelastic
SAFE Working Paper No. 360
Sep 2022 Working Papers Macro Finance 1661983200SAFE Working Paper
359Spencer Yongwook Kwon, Yueran Ma, Niklas Kaspar Zimmermann100 Years of Rising Corporate Concentration
SAFE Working Paper No. 359
Sep 2022 Macro Finance 1661983200SAFE Working Paper
358Matteo Bagnara, Ruggero Jappelli Liquidity Derivatives
SAFE Working Paper No. 358
Sep 2022 Working Papers Financial Markets 1661983200SAFE Working Paper
357Huynh Sang Truong, Uwe Walz Spillovers of PE Investments
SAFE Working Paper No. 357
Sep 2022 Working Papers Financial Intermediation 1661983200SAFE Working Paper
356Markus EytingWhy do we Discriminate? The Role of Motivated Reasoning
SAFE Working Paper No. 356
Sep 2022 Working Papers Household Finance, 1661983200SAFE Working Paper
355Stephan Jank, Emanuel Moench, Michael SchneiderSafe Asset Shortage and Collateral Reuse
SAFE Working Paper No. 355
Jul 2022 Working Papers Financial Markets 1656626400SAFE Working Paper
354 Sebastian Steuer Common Ownership and the (Non-)Transparency of Institutional Shareholdings: An EU-US Comparison
SAFE Working Paper No. 354
Jul 2022 Working Papers Law and Finance 1656626400SAFE Working Paper
353 Olga Balakina,
Claes Bäckman,
Andreas Hackethal,
Tobin Hanspal, Dominique Lammer
Personal Recommendations and Portfolio Quality
SAFE Working Paper No. 353
Jul 2022 Working Papers Household Finance 1656626400SAFE Working Paper
352Monica Billio, Michele Costola, Loriana Pelizzon,
Max Riedel
Creditworthiness and buildings’ energy efficiency in the Italian mortgage market
SAFE Working Paper No. 352
Jun 2022 Working Papers Financial Markets 1654034400SAFE Working Paper
351Markus Dertwinkel-Kalt, Johannes Kasinger, Dmitrij SchneiderSkewness Preferences: Evidence from Online Poker
SAFE Working Paper No. 351
Jun 2022 Working Papers Financial Intermediation 1654034400SAFE Working Paper
350 Ruggero Jappelli,
Konrad Lucke,
Loriana Pelizzon
Price and Liquidity Discovery in European Sovereign Bonds and Futures
SAFE Working Paper No. 350
Apr 2022 Working Papers Financial Markets 1648764000SAFE Working Paper
349Monica Billio, Michele Costola, Iva Hristova, Carmelo Latino,
Loriana Pelizzon
Sustainable Finance: A journey toward ESG and climate risk
SAFE Working Paper No. 349
Apr 2022 Working Papers Financial Markets 1648764000SAFE Working Paper
348Fabian 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
Apr 2022 Working Papers Household Finance 1648764000SAFE Working Paper
347 Andrej Gill,
Florian Hett,
Johannes Tischer
Time Inconsistency and Overdraft Use: Evidence from Transaction Data and Behavioral Measurement Experiments
SAFE Working Paper No. 347
Apr 2022 Working Papers Household Finance, 1648764000SAFE Working Paper
346Roman Inderst, Marcus OppSocially Optimal Sustainability Standards with Non-Consequentialist ("Warm Glow") Investors
SAFE Working Paper No. 346
Mar 2022 Working Papers Financial Intermediation, Law and Finance, Household Finance 1646089200SAFE Working Paper
345 Florian Heider,
Roman Inderst
A Corporate Finance Perspective on Environmental Policy
SAFE Working Paper No. 345
Mar 2022 Working Papers Financial Intermediation, Law and Finance, Household Finance 1646089200SAFE Working Paper
344Steffen Eibelshäuser, Fabian Smetak Frequent Batch Auctions and Informed Trading
SAFE Working Paper No. 344
Mar 2022 Working Papers Household Finance, Financial Markets 1646089200SAFE Working Paper
343Alessandro Di Nola, Leo Kaas,
Haomin Wang
Rescue Policies for Small Businesses in the COVID-19 Recession
SAFE Working Paper No. 343
Mar 2022 Working Papers Macro Finance 1646089200SAFE Working Paper
342Alperen Afşin Gözlügöl, Wolf-Georg RingePrivate Companies: The Missing Link on The Path to Net Zero
SAFE Working Paper No. 342
Mar 2022 Working Papers Law and Finance 1646089200SAFE Working Paper
341 Sandra Eckert The 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
Feb 2022 Working Papers Financial Intermediation 1643670000SAFE Working Paper
340Anastasia Kotovskaia, Tobias Tröger National Interests and Supranational Resolution in the European Banking Union
SAFE Working Paper No. 340
Feb 2022 Working Papers Financial Intermediation, Law and Finance, Financial Markets 1643670000SAFE Working Paper
339 Sandra Eckert,
Vincent R. Lindner,
Andreas Nölke
Political 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
Jan 2022 Working Papers Macro Finance 1640991600SAFE Working Paper
338Elsa 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
Jan 2022 Working Papers Law and Finance 1640991600SAFE Working Paper
337Maximilian 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
Jan 2022 Working Papers Law and Finance 1640991600SAFE Working Paper
336Victor Klockmann, Marie Claire Villeval, Alicia von SchenkArtificial Intelligence, Ethics, and Pivotality
SAFE Working Paper No. 336
Jan 2022 Working Papers Household Finance, 1640991600SAFE Working Paper
335Victor Klockmann, Marie Claire Villeval, Alicia von SchenkArtificial Intelligence, Ethics, and Intergenerational Responsibility
SAFE Working Paper No. 335
Jan 2022 Working Papers Household Finance, 1640991600SAFE Working Paper
334Ilya Dergunov, Christoph Meinerding,
Christian Schlag
Extreme Inflation and Time-Varying Expected Consumption Growth
SAFE Working Paper No. 334
Jan 2022 Working Papers Financial Markets 1640991600SAFE Working Paper
333 Vincent R. Lindner Solidarity without Conditionality. Comparing the EU Covid-19 Safety Nets SURE, Pandemic Crisis Support, and European Guarantee Fund
SAFE Working Paper No. 333
Jan 2022 Working Papers Macro Finance 1640991600SAFE Working Paper
332Gyozo Gyöngyösi, Judit Rariga, Emil VernerThe Anatomy of Consumption in a Household Foreign Currency Debt Crisis
SAFE Working Paper No. 332
Dec 2021 Working Papers Household Finance 1638313200SAFE Working Paper
331 Ruggero Jappelli,
Loriana Pelizzon,
Alberto Plazzi
The Core, the Periphery, and the Disaster: Corporate-Sovereign Nexus in COVID-19 Times
SAFE Working Paper No. 331
Dec 2021 Working Papers Financial Markets 1638313200SAFE Working Paper
330Jan Krzyzanowski, Uwe Walz Bank Regulation, Lending and Patenting: Evidence from the EBA Capital Exercise
SAFE Working Paper No. 330
Dec 2021 Working Papers Financial Intermediation 1638313200SAFE Working Paper
329Jana Eisenkopf, Steffen Juranek, Uwe Walz Responsible Investment and Stock Market Shocks: Short-Term Insurance and Persistent Outperformance Post-Crisis?
SAFE Working Paper No. 329
Dec 2021 Working Papers Financial Intermediation 1638313200SAFE Working Paper
328Hoang Ha Nguyen Thi, Alfons J. Weichenrieder C and S Corporation Banks: Did Trump’s Tax Reform Lead to Differential Effects?
SAFE Working Paper No. 328
Dec 2021 Working Papers Macro Finance 1638313200SAFE Working Paper
327 Fincap Team, Jan Pieter Krahnen,
Loriana Pelizzon,
Christian Westheide
Non-Standard Errors
SAFE Working Paper No. 327
Nov 2021 Working Papers Financial Intermediation, Financial Markets 1635721200SAFE Working Paper
326Wenhui Li, Peter Ockenfels,
Christian Wilde
The Effect of Ambiguity on Price Formation and Trading Behavior in Financial Markets
SAFE Working Paper No. 326
Nov 2021 Working Papers Financial Markets, 1635721200SAFE Working Paper
325Alperen Afşin 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
Nov 2021 Working Papers Law and Finance 1635721200SAFE Working Paper
324Massimiliano 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
Oct 2021 Working Papers Financial Markets 1633039200SAFE Working Paper
323Alexandre Corhay, Thilo Kind, Howard Kung, Gonzalo MoralesDiscount Rates, Debt Maturity, and the Fiscal Theory
SAFE Working Paper No. 323
Oct 2021 Working Papers Macro Finance 1633039200SAFE Working Paper
322Gianluca Anese, Marco Corazza, Michele Costola, Loriana Pelizzon Impact of Public News Sentiment on Stock Market Index Return and Volatility
SAFE Working Paper No. 322
Oct 2021 Working Papers Financial Markets 1633039200SAFE Working Paper
321Ignazio Angeloni, Johannes Kasinger, Chantawit TantasithThe Geography of Banks in the United States (1990-2020)
SAFE Working Paper No. 321
Sep 2021 Working Papers Financial Intermediation 1630447200SAFE Working Paper
320 Sebastian Steuer,
Tobias Tröger
The Role of Disclosure in Green Finance
SAFE Working Paper No. 320
Aug 2021 Working Papers Law and Finance 1627768800SAFE Working Paper
319 Erik Theissen,
Christian Westheide
Call of Duty: Designated Market Maker Participation in Call Auctions
SAFE Working Paper No. 319
Aug 2021 Working Papers Financial Markets 1627768800SAFE Working Paper
318Kevin Bauer, Michael Kosfeld,
Ferdinand von Siemens
Incentives, Self-Selection, and Coordination of Motivated Agents for the Production of Social Goods
SAFE Working Paper No. 318
Jan 2021 Working Papers Financial Intermediation, 1609455600SAFE Working Paper
317Volker Flögel, Christian Schlag,
Claudia Zunft
Momentum-Managed Equity Factors
SAFE Working Paper No. 317
Jul 2021 Working Papers Financial Markets 1625090400SAFE Working Paper
316 Christian Mücke,
Loriana Pelizzon,
Vincenzo Pezone, Anjan Thakor
The Carrot and the Stick: Bank Bailouts and the Disciplining Role of Board Appointments
SAFE Working Paper No. 316
Jul 2021 Working Papers Financial Markets 1625090400SAFE Working Paper
315Kevin Bauer, Oliver Hinz,
Moritz von Zahn
Expl(AI)ned: The Impact of Explainable Artificial Intelligence on Users' Information Processing
SAFE Working Paper No. 315
Jun 2021 Working Papers Financial Intermediation, 1622498400SAFE Working Paper
314Farshid Abdi, Mila Getmansky Sherman, Emily Kormanyos, Loriana Pelizzon,
Zorka Simon
The President Reacts to News Channel of Government Communication
SAFE Working Paper No. 314
May 2021 Working Papers Financial Markets 1619820000SAFE Working Paper
313Kevin Bauer, Andrej Gill Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies
SAFE Working Paper No. 313
Apr 2021 Working Papers Financial Intermediation, 1617228000SAFE Working Paper
312Can Gao, Ian MartinVolatility, Valuation Ratios, and Bubbles: An Empirical Measure of Market Sentiment
SAFE Working Paper No. 312
Jan 2021 Working Papers Financial Markets 1609455600SAFE Working Paper
311Wenhui Li, Christian WildeSeparating the Effects of Beliefs and Attitudes on Pricing under Ambiguity
SAFE Working Paper No. 311
Mar 2021 Working Papers Financial Markets, 1614553200SAFE Working Paper
310 Loriana Pelizzon,
Aleksandra Rzeźnik, Kathleen Weiss Hanley
Investor Reliance on ESG Ratings and Stock Price Performance
SAFE Working Paper No. 310
Mar 2021 Working Papers Financial Markets 1614553200SAFE Working Paper
309Tabea Bucher-Koenen, Andreas Hackethal,
Johannes Koenen, Christine Laudenbach
Gender Differences in Financial Advice
SAFE Working Paper No. 309
Feb 2021 Working Papers Household Finance 1612134000SAFE Working Paper
308Thomas PaulsThe Impact of Temporal Framing on the Marginal Propensity to Consume
SAFE Working Paper No. 308
Feb 2021 Working Papers Household Finance 1612134000SAFE Working Paper
307Ester Faia, Andreas Fuster, Vincenzo Pezone, Basit ZafarBiases in Information Selection and Processing: Survey Evidence from the Pandemic
SAFE Working Paper No. 307
Feb 2021 Working Papers Law and Finance 1612134000SAFE Working Paper
306Aljoscha Janssen, Johannes KasingerObfuscation and Rational Inattention in Digitalized Markets
SAFE Working Paper No. 306
Feb 2021 Working Papers Financial Intermediation, Financial Markets 1612134000SAFE Working Paper
305Sabine Bernard, Benjamin Loos, Martin WeberThe Disposition Effect in Boom and Bust Markets
SAFE Working Paper No. 305
Feb 2021 Working Papers Household Finance 1612134000SAFE Working Paper
304Monica Billio, Mila Getmansky Sherman, Andrew Lo, Loriana Pelizzon,
Abalfazl Zareei
Global Realignment in Financial Market Dynamics
SAFE Working Paper No. 304
Feb 2021 Working Papers Financial Markets 1612134000SAFE Working Paper
303 Andreas Hackethal,
Ankit Kalda, Benjamin Loos, Alessandro Previtero
Smart (Phone) Investing? A Within Investor-Time Analysis of New Technologies and Trading Behavior
SAFE Working Paper No. 303
Feb 2021 Working Papers Household Finance 1612134000SAFE Working Paper
302Tim Alexander Kroencke, Maik Schmeling,
Andreas Schrimpf
The FOMC Risk Shift
SAFE Working Paper No. 302
Jan 2021 Working Papers Financial Markets 1609455600SAFE Working Paper
301Di Bu, Tobin Hanspal, Yin Liao, Yong LiuRisk Taking, Preferences, and Beliefs: Evidence from Wuhan
SAFE Working Paper No. 301
Mar 2020 Working Papers Household Finance 1583017200SAFE Working Paper
300 Dennis Gram,
Pantelis Karapanagiotis,
Jan Krzyzanowski, Marius Liebald, Uwe Walz
An Extensible Model for Historical Financial Data with an Application to German Company and Stock Market Data
SAFE Working Paper No. 300
Jan 2021 Working Papers Financial Intermediation, 1609455600SAFE Working Paper
299 Ferdinand von Siemens Motivated Beliefs and the Elderly’s Compliance with COVID-19 Measures
SAFE Working Paper No. 299
Jan 2021 Working Papers Law and Finance, 1609455600SAFE Working Paper
298Emanuel Moench, Loriana Pelizzon,
Michael Schneider, Calebe de Roure
OTC Discount
SAFE Working Paper No. 298
Dec 2020 Working Papers Financial Markets, 1606777200SAFE Working Paper
297Dimitrios Kostopoulos, Steffen Meyer, Charline UhrAmbiguity and Investor Behavior
SAFE Working Paper No. 297
Nov 2020 Working Papers Household Finance 1604185200SAFE Working Paper
296Reint Gropp, Thomas Mosk, Steven Ongena, Ines Simac, Carlo WixSupranational Rules, National Discretion: Increasing Versus Inflating Regulatory Bank Capital?
SAFE Working Paper No. 296
Nov 2020 Working Papers Financial Intermediation 1604185200SAFE Working Paper
295Besart Avdiu, Alfons J. Weichenrieder Financing Costs and the Efficiency of Public-Private Partnerships
SAFE Working Paper No. 295
Nov 2020 Working Papers Macro Finance 1604185200SAFE Working Paper
294Christian Alemán-Pericón, Christopher Busch,
Alexander Ludwig,
Raül Santaeulàlia-Llopis
Evaluating the Effectiveness of Policies Against a Pandemic
SAFE Working Paper No. 294
Oct 2020 Working Papers Macro Finance 1601503200SAFE Working Paper
293Christoph Hambel, Holger Kraft,
André Meyer-Wehmann
When Should Retirees Tap Their Home Equity?
SAFE Working Paper No. 293
Oct 2020 Working Papers Household Finance 1601503200SAFE Working Paper
292Andrea ModenaRecapitalization, Bailout, and Long-run Welfare in a Dynamic Model of Banking
SAFE Working Paper No. 292
Oct 2020 Working Papers Financial Markets 1601503200SAFE Working Paper
291 Loriana Pelizzon,
Satchit Sagade, Katia Vozian
Resiliency: Cross-Venue Dynamics with Hawkes Processes
SAFE Working Paper No. 291
Oct 2020 Working Papers Financial Markets 1601503200SAFE Working Paper
290Nicola Fuchs-Schündeln, Dirk Krueger, Alexander Ludwig,
Irina Popova
The Long-Term Distributional and Welfare Effects of Covid-19 School Closures
SAFE Working Paper No. 290
Sep 2020 Working Papers Macro Finance 1598911200SAFE Working Paper
289 Christian Schlag,
Michael Semenischev, Julian Thimme
Predictability and the Cross-Section of Expected Returns: A Challenge for Asset Pricing Models
SAFE Working Paper No. 289
Sep 2020 Working Papers Financial Markets 1598911200SAFE Working Paper
288Michele Costola, Oliver Hinz,
Michael Nofer, Loriana Pelizzon
Machine Learning Sentiment Analysis, COVID-19 News and Stock Market Reactions
SAFE Working Paper No. 288
Sep 2020 Working Papers Financial Markets 1598911200SAFE Working Paper
287Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz,
Michael Kosfeld,
Nicolas Winfried Pfeuffer
The Economic Consequences of Algorithmic Discrimination: Theory and Empirical Evidence
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Inside the ESG Ratings: (Dis)agreement and Performance
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283 Jannis Bischof,
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282Daniel Munevar, Grygoriy Pustovit Back to the Future: A Sovereign Debt Standstill Mechanism IMF Article VIII, Section 2 (b)
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281Kevin BauerHow did we do? The Impact of Relative Performance Feedback on Intergroup Hostilities
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280Konstantin Bräuer, Andreas Hackethal,
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279Tobin Hanspal, Annika Weber, Johannes WohlfartExposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations
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278 Sandra Eckert EU Agencies in Banking and Energy Between Institutional and Policy Centralisation
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277 Andreas Hackethal,
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Max Riedel,
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Collateral Eligibility of Corporate Debt in the Eurosystem
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274 Christopher Busch,
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The Trading Response of Individual Investors to Local Bankruptcies
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271Pietro Dindo, Andrea Modena, Loriana Pelizzon Risk Pooling, Intermediation Efficiency, and the Business Cycle
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270Mario Bellia, Kim Christensen, Aleksey Kolokolov, Loriana Pelizzon,
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269Ester Faia, Maximilian Mayer, Vincenzo PezoneThe Value of Firm Networks: A Natural Experiment on Board Connections
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268Marie Lalanne, Lorenzo Maria LevatiThe Impact of Job Referrals on Employment Outcomes in Top Corporate Positions
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266Benjamin Bluhm, Jannic CuturaEconometrics at Scale: Spark Up Big Data in Economics
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264Hengjie Ai, Jun E. Li, Kai Li, Christian Schlag The Collateralizability Premium
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250Nathanael Vellekoop, Mirko Wiederholt Inflation Expectations and Choices of Households
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242Ester Faia, Vincenzo PezoneThe Heterogeneous Cost of Wage Rigidity: Evidence and Theory
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241Martin GötzFinancial Constraints and Corporate Environmental Responsibility
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239Paul Gortner, Baptiste MassenotLeverage and Bubbles: Experimental Evidence
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236Aleksey Kolokolov, Giulia Livieri, Davide PirinoStatistical Inferences for Price Staleness
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232Jannic CuturaDebt Holder Monitoring and Implicit Guarantees: Did the BRRD Improve Market Discipline?
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228Roberto PanzicaIdiosyncratic Volatility Puzzle: The Role of Assets' Interconnections
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227Mila Getmansky Sherman, Ravi Jagannathan, Loriana Pelizzon,
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226 Loriana Pelizzon,
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223Florian DeuflhardQuantifying Inertia in Retail Deposit Markets
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222Vanessa Endrejat, Matthias Thiemann Reviving the Shadow Banking Chain in Europe: Regulatory Agency, Technical Complexity and the Dynamics of Co-Habitation
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221Axel Börsch-Supan, Duarte Nuno Leite, Alexander Ludwig Endogenous Retirement Behavior of Heterogeneous Households Under Pension Reforms
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220Yangming Bao, Martin GötzLocal Peer Effects and Corporate Investment
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218Florian Hoffmann, Roman Inderst, Marcus OppOnly Time will Tell: A Theory of Deferred Compensation
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216Stefano Colonnello, Giuliano Curatola, Alessandro Gioffré Pricing Sin Stocks: Ethical Preference vs. Risk Aversion
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215Zsuzsa R. Huszar, Zorka SimonThe Pricing Implications of Oligopolistic Securities Lending Market: A Beneficial Owner Perspective
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214Edin Ibrocevic, Matthias Thiemann All Economic Ideas are Equal, but Some are more Equal than Others: A Differentiated Perspective on Macroprudential Ideas and their Implementation
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212Henning HesseIncentive Effects from Write-down CoCo Bonds: An Empirical Analysis
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211Thomas MoskBargaining with a Bank
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210Darien Huang, Christian Schlag,
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209Eren Gürer, Alfons J. Weichenrieder Pro-rich Inflation in Europe: Implications for the Measurement of Inequality
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208Roberto Casarin, Michele Costola, Erdem YenerdagFinancial Bridges and Network Communities
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207 Claes Bäckman,
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Participation and Losses in Multi-Level Marketing: Evidence from an FTC Settlement
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206 Loriana Pelizzon,
Anjan Thakor, Calebe de Roure
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205Horst Entorf, Jia HouFinancial Education for the Disadvantaged? A Review
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204 Loriana Pelizzon,
Matteo Sottocornola
The Impact of Monetary Policy Interventions on the Insurance Industry
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203 Florian Hett,
Felix Schmidt
Pushing Through or Slacking Off? Heterogeneity in the Reaction to Rank Feedback
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202 Tobias Tröger Germany's Reluctance to Regulate Related Party Transactions
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201Dirk Krueger, Alexander Ludwig Optimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk
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200Nils Grevenbrock, Max Groneck, Alexander Ludwig,
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199 Tobias Tröger Regulation of Crowdfunding in Germany
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198Henning Hesse, Boris Hofmann, James WeberThe Macroeconomic Effects of Asset Purchases Revisited
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197Benjamin Clapham, Peter Gomber,
Martin Haferkorn, Paul Jentsch, Sven Panz
Circuit Breakers – A Survey among International Trading Venues
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196Benjamin Clapham, Peter Gomber,
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Coordination of Circuit Breakers? Volume Migration and Volatility Spillover in Fragmented Markets
SAFE Working Paper No. 196
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195Benjamin Clapham, Peter Gomber,
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Managing Excess Volatility: Design and Effectiveness of Circuit Breakers
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194Baptiste MassenotPain of Paying in a Business Cycle Model
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193Mario Bellia, Giulio Girardi, Roberto Panzica, Loriana Pelizzon,
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192Vincenzo PezoneThe Real Effects of Judicial Enforcement
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191Julia Hirsch, Uwe Walz Financial Constraints, Newly Founded Firms and the Financial Crisis
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190Vanya Horneff, Raimond Maurer,
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189Carlo WixThe Long-Run Real Effects of Banking Crises: Firm-Level Investment Dynamics and the Role of Wage Rigidity
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188Michael Donadelli, Patrick Grüning, Marcus Jüppner, Renatas KizysGlobal Temperature, R&D Expenditure, and Growth
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187Baptiste Massenot, Yuri PettinicchiCan Firms See into the Future? Survey Evidence from Germany
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186 Nicole Branger,
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185Patrick GrüningHeterogeneity in the Internationalization of R&D: Implications for Anomalies in Finance and Macroeconomics
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184 Tobias Tröger Remarks on the German Regulation of Crowdfunding
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183Joost Driessen, Theo E. Nijman, Zorka SimonThe Missing Piece of the Puzzle: Liquidity Premiums in Inflation-Indexed Markets
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181 Holger Kraft,
Farina Weiss
Consumption-Portfolio Choice with Preferences for Cash
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180 Tobias Tröger Why MREL Won't Help Much
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179 Tobias Tröger Too Complex to Work - A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime
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178Matthias GoldmannUnited in Diversity? The Relationship between Monetary Policy and Banking Supervision in the Banking Union
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177Michael Donadelli, Marcus Jüppner, Max Riedel,
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176Giuliano Curatola, Ilya DergunovInternational Capital Markets with Time-Varying Preferences
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175Reint Gropp, Deyan RadevInternational Banking Conglomerates and the Transmission of Lending Shocks Across Borders
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174Reint Gropp, Deyan RadevSocial Centralization, Bank Integration and the Transmission of Lending Shocks
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173Christel Merlin Kuate Kamga, Christian WildeLiquidity Premia in CDS Markets
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172Massimiliano Caporin, Michele Costola, Shawkat Hammoudeh, Ahmed KhalifaSystemic Risk for Financial Institutions of Major Petroleum-Based Economies: The Role of Oil
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Older People’s Willingness to Delay Social Security Claiming
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168Guido Friebel, Marie Lalanne, Bernard Richter, Peter Schwardmann, Paul SeabrightWomen Form Social Networks More Selectively and Less Opportunistically Than Men
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167Felix Noth, Ulrich SchüwerNatural Disaster and Bank Stability: Evidence from the U.S. Financial System
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166Monica Billio, Massimiliano Caporin, Roberto Panzica, Loriana Pelizzon The Impact of Network Connectivity on Factor Exposures, Asset Pricing and Portfolio Diversification
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Tatjana Schimetschek
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163Giuliano Curatola, Michael Donadelli, Patrick GrüningTechnology Trade with Asymmetric Tax Regimes and Heterogeneous Labor Markets: Implications for Macro Quantities and Asset Prices
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162Gabriele Camera, Alessandro Gioffré Asymmetric Social Norms
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161Tobin HanspalThe Effect of Personal Financing Disruptions on Entrepreneurship
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160Domenico Rocco Cambrea, Stefano Colonnello, Giuliano Curatola, Giulia FantiniCEO Investment of Deferred Compensation Plans and Firm Performance
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159Monica Billio, Michael Donadelli, Antonio Paradiso, Max Riedel Which Market Integration Measure?
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158Michael Donadelli, Renatas Kizys, Max Riedel Globally Dangerous Diseases: Bad News for Main Street, Good News for Wall Street?
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157Sophie Ahlswede, Steffen Meyer, Linda UrbanDoes feedback on personal investment success help?
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156Reint Gropp, Thomas Mosk, Steven Ongena, Carlo WixBank Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment
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155Vahid SaadiMortgage Supply and the US Housing Boom: The Role of the Community Reinvestment Act
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154Brigitte HaarShareholder Wealth vs. Stakeholder interests? Evidence from Code Compliance under the German Corporate Governance Code
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153Julia Hirsch, Uwe Walz The Financing Dynamics of Newly Founded Firms
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152Viral Acharya, Tim Eisert, Christian Eufinger, Christian HirschWhatever it Takes: The Real Effects of Unconventional Monetary Policy
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151Fabrizio Lillo, Loriana Pelizzon,
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150Vanya Horneff, Raimond Maurer,
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149Massimiliano Caporin, Aleksey Kolokolov, Roberto RenòSystemic Co-Jumps
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148Petr Jakubik, Sven-Thorsten JakuschOn the Applicability of Maximum Likelihood Methods: From Experimental to Financial Data
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147 Andreas Hackethal,
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146 Andreas Hackethal,
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145Raphael Abiry, Christian Geppert, Alexander Ludwig Secular Stagnation? Growth, Asset Returns and Welfare in the Next Decades: First Results
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143 Peter Gomber,
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142Nathanael VellekoopThe Impact of Long-Run Macroeconomic Experiences on Personality
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141Brigitte HaarFreedom of Contract and Financial Stability Through the Lens of the Legal Theory of Finance
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140Reint Gropp, Rasa Karapandza,
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139 Holger Kraft,
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138Mohamed Al Degwy, Matthias Thiemann How Economics Got it Wrong: Formalism, Equilibrium Modelling and Pseudo-Optimization in Banking Regulatory Studies
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137Elia Berdin, Christoffer Kok, Cosimo PancaroA Stochastic Forward-Looking Model to Assess the Profitability and Solvency of European Insurers
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136Mohamed Al Degwy, Edin Ibrocevic, Matthias Thiemann Understanding the Shift from Micro to Macro-Prudential Thinking: A Discursive Network Analysis
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135 Douglas Cumming,
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133Markus Behn, Rainer Haselmann,
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132 Rainer Haselmann,
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131 Nicole Branger,
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130Giuliano CuratolaOptimal Consumption and Portfolio Choice with Loss Aversion
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129Giuliano Curatola, Michael Donadelli, Patrick Grüning, Christoph Meinerding Investment-Specific Shocks, Business Cycles, and Asset Prices
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128Giuliano CuratolaPreference Evolution and the Dynamics of Capital Markets
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127Helmut Elsinger, Philipp Schmidt-Dengler, Christine ZulehnerCompetition in Treasury Auctions
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126 Carsten Bienz,
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125 Tobias Tröger,
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124Adrian Buss, Bernard Dumas, Raman Uppal, Grigory VilkovThe Intended and Unintended Consequences of Financial-Market Regulations: A General Equilibrium Analysis
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123Marie Lalanne, Paul SeabrightThe Old Boy Network: The Impact of Professional Networks on Remuneration in Top Executive Jobs
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122 Douglas Cumming,
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121Elia Berdin, Matteo SottocornolaInsurance Activities and Systemic Risk
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120Matthias Heinz, Heiner Schumacher Signaling Cooperation
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119Michael Brennan, Holger Kraft Leaning Against the Wind: Debt Financing in the Face of Adversity
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118Michael Donadelli, Antonio Paradiso, Max Riedel A Quasi Real-Time Leading Indicator for the EU Industrial Production
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117Marcel BluhmInterbank Funding as Insurance Mechanism for (Persistent) Liquidity Shocks
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116Charles GottliebOn the Distributive Effects of Inflation
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115Andreas Fagereng, Charles Gottlieb, Luigi GuisoAsset Market Participation and Portfolio Choice Over the Life-Cycle
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114Kevin Bauer, Nicole Branger,
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113Bettina Brüggemann, Jinhyuk YooAggregate and Distributional Effects of Increasing Taxes on Top Income Earners
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112Shafik Hebous, Alfons J. Weichenrieder On Deficits and Symmetries in a Fiscal Capacity
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111 Alfons J. Weichenrieder,
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110Dirk Krueger, Philipp Krüger, Alexander Ludwig On the Optimal Provision of Social Insurance
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109 Tobias Tröger Regulatory Influence on Market Conditions in the Banking Union
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108Sascha Baghestanian, Paul Gortner, Baptiste MassenotCompensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis
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107Daniel Powell, Marc Steffen RappNon-Mandatory Say on Pay Votes and AGM Participation: Evidence from Germany
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106Baptiste Massenot, Stéphane StraubInformal Sector and Economic Development: The Credit Supply Channel
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105Vilen Lipatov, Alfons J. Weichenrieder A Decentralization Theorem of Taxation
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104Sascha Baghestanian, Baptiste MassenotCredit Cycles: Experimental Evidence
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103Massimiliano Caporin, Loriana Pelizzon,
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102Iñaki Aldasoro, Iván AlvesMultiplex Interbank Networks and Systemic Importance: An Application to European Data
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101Marcel GruppOn the Impact of Leveraged Buyouts on Bank Systemic Risk
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100Marcel GruppTaking the Lead: When Non-Banks Arrange Syndicated Loans
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99Marcel Grupp, Christian Rauch, Marc Umber, Uwe Walz The Influence of Leveraged Buyouts on Target Firms’ Competitors
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98 Helmut Gründl,
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97Tobias NiedrigOptimal Asset Allocation for Interconnected Life Insurers in the Low Interest Rate Environment Under Solvency Regulation
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96Jens-Hinrich BinderBanking Union and the Governance of Credit Institutions - A Legal Perspective
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95 Loriana Pelizzon,
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Sovereign Credit Risk, Liquidity, and ECB Intervention: Deus Ex Machina?
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94Claudia Lambert, Felix Noth, Ulrich SchüwerHow Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina
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93Shafik Hebous, Tom ZimmermannRevisiting the Narrative Approach of Estimating Tax Multipliers
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92Christoph Hambel, Holger Kraft Optimal Carbon Abatement in a Stochastic Equilibrium Model with Climate Change
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91Anne-Caroline HüserToo Interconnected to Fail: A Survey of the Interbank Networks Literature
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90Pinar TopalFiscal Stimulus and Labor Market Flexibility
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89Julia Braun, Alfons J. Weichenrieder Does Exchange of Information between Tax Authorities Influence Multinationals’ Use of Tax Havens?
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88Ester Faia, Beatrice Weder di Mauro Cross-Border Resolution of Global Banks
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87Iñaki Aldasoro, Domenico Delli Gatti, Ester FaiaBank Networks: Contagion, Systemic Risk and Prudential Policy
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86Agar Brugiavini, Danilo Cavapozzi, Mario Padula, Yuri PettinicchiFinancial Education, Literacy and Investment Attitudes
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85 Holger Kraft,
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84 Raimond Maurer,
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Will They Take the Money and Work? An Empirical Analysis of People’s Willingness to Delay Claiming Social Security Benefits for a Lump Sum
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83Patrick GrüningInternational Endogenous Growth, Macro Anomalies, and Asset Prices
SAFE Working Paper No. 83
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82Axel Börsch-Supan, Alexander Ludwig,
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Aging and Pension Reform: Extending the Retirement Age and Human Capital Formation
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81Jens-Hinrich BinderResolution Planning and Structural Bank Reform within the Banking Union
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80Enrique G. Mendoza, Linda L. Tesar, Jing ZhangSaving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
SAFE Working Paper No. 80
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79Òscar Jordà, Alan M. TaylorThe Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
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78Harris Dellas, Dirk NiepeltAusterity
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77Benjamin Born, Gernot J. Müller, Johannes PfeiferDoes Austerity Pay Off?
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76Alberto Alesina, Carlo Ambrogio Favero, Francesco Giavazzi, Andreas MüllerThe Output Effect of Fiscal Consolidation Plans
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75Markus Behn, Rainer Haselmann,
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The Limits of Model-Based Regulation
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74 Nicole Branger,
Patrick Konermann, Christoph Meinerding,
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73Max Groneck, Alexander Ludwig,
Alexander Zimper
A Life-Cycle Model with Ambiguous Survival Beliefs
SAFE Working Paper No. 73
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72 Alexander Ludwig,
Matthias Schön
Endogenous Grids in Higher Dimensions: Delaunay Interpolation and Hybrid Methods
SAFE Working Paper No. 72
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71 Daniel Harenberg,
Alexander Ludwig
Social Security in an Analytically Tractable Overlapping Generations Model with Aggregate and Idiosyncratic Risk
SAFE Working Paper No. 71
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70Deyan RadevAssessing Systemic Fragility – A Probabilistic Perspective
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69Nina Biljanovska, Spyridon PalligkinisControl Thyself: Self-Control Failure and Household Wealth
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68 Tobias Tröger How Special Are They? – Targeting Systemic Risk by Regulating Shadow Banking
SAFE Working Paper No. 68
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67Sascha Baghestanian, Paul Gortner, Joël van der WeelePeer Effects and Risk Sharing in Experimental Asset Markets
SAFE Working Paper No. 67
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66 Tobias Tröger Corporate Groups
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65Elia Berdin, Helmut Gründl The Effects of a Low Interest Rate Environment on Life Insurers
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64Daniel HerboldA Repeated Principal-Agent Model with On-the-Job Search
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63Nicola Fuchs-Schündeln, Michael HaliassosDoes Product Familiarity Matter for Participation?
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62Patrick Behr, Alejandro H. Drexler, Reint Gropp, Andre GuettlerFinancial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort Under an Incomplete Contract
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61Iñaki Aldasoro, Mike SeiferlingVertical Fiscal Imbalances and the Accumulation of Government Debt
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60Stefano Colonnello, Giuliano Curatola, Ngoc Giang HoangDirect and Indirect Risk-Taking Incentives of Inside Debt
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59 Daniel Harenberg,
Alexander Ludwig
Idiosyncratic Risk, Aggregate Risk, and the Welfare Effects of Social Security
SAFE Working Paper No. 59
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58Michael Haliassos, Thomas Jansson, Yigitcan KarabulutIncompatible European Partners? Cultural Predispositions and Household Financial Behavior
SAFE Working Paper No. 58
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57Brigitte HaarFinancial Regulation in the EU – Cross-Border Capital Flows, Systemic Risk and the European Banking Union as Reference Points for EU Financial Market Integration
SAFE Working Paper No. 57
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56Giuliano Curatola, Michael Donadelli, Alessandro Gioffré,
Patrick Grüning
Austerity, Fiscal Uncertainty, and Economic Growth: Insights from Fiscally Weak EU Countries
SAFE Working Paper No. 56
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55 Jan Pieter Krahnen,
Peter Ockenfels,
Christian Wilde
Measuring Ambiguity Aversion: A Systematic Experimental Approach
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54Sascha Baghestanian, Todd B. WalkerAnchoring in Experimental Asset Markets
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53 Holger Kraft,
Claus Munk, Frank Thomas Seifried, Mogens Steffensen
Consumption and Wage Humps in a Life-Cycle Model with Education
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52 Holger Kraft,
Thomas Seiferling, Frank Thomas Seifried
Optimal Consumption and Investment with Epstein-Zin Recursive Utility
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51Yacine Aït-Sahalia, Roger J. A. Laeven, Loriana Pelizzon Mutual Excitation in Eurozone Sovereign CDS
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50Ignazio Angeloni, Ester Faia, Roland C. WinklerExit Strategies
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49Stefania Bortolotti, Gabriele Camera, Marco CasariAn Experiment on Retail Payments Systems
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48Marcel Bluhm, Jan Pieter Krahnen Systemic Risk in an Interconnected Banking System with Endogenous Asset Markets
SAFE Working Paper No. 48
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47 Michael Kosfeld,
Ulrich Schüwer
Add-On Pricing in Retail Financial Markets and the Fallacies of Consumer Education
SAFE Working Paper No. 47
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46Marcel Bluhm, Ester Faia, Jan Pieter Krahnen Monetary Policy Implementation in an Interbank Network: Effects on Systemic Risk
SAFE Working Paper No. 46
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45Fabio Castiglionesi, Fabio Feriozzi, Gyöngyi Lóránth, Loriana Pelizzon Liquidity Coinsurance and Bank Capital
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44Lorenz SchendelCritical Illness Insurance in Life Cycle Portfolio Problems
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43Lorenz SchendelConsumption-Investment Problems with Stochastic Mortality Risk
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42Reint Gropp, John Krainer, Elizabeth LadermanDid Consumers Want Less Debt? Consumer Credit Demand versus Supply in the Wake of the 2008-2009 Financial Crisis
SAFE Working Paper No. 42
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41Adrian Buss, Raman Uppal, Grigory VilkovAsset Prices in General Equilibrium with Recursive Utility and Illiquidity Induced by Transactions Costs
SAFE Working Paper No. 41
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40Christoph Hambel, Holger Kraft,
Lorenz Schendel, Mogens Steffensen
Life Insurance Demand under Health Shock Risk
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39H. Evren Damar, Reint Gropp, Adi MordelBanks’ Financial Distress, Lending Supply and Consumption Expenditure
SAFE Working Paper No. 39
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38Claudia Lambert, Felix Noth, Ulrich SchüwerHow do Insured Deposits Affect Bank Risk? Evidence from the 2008 Emergency Economic Stabilization Act
SAFE Working Paper No. 38
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37Deyan RadevSystemic Risk and Sovereign Debt in the Euro Area
SAFE Working Paper No. 37
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36 Florian Hett,
Alexander Schmidt
Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis
SAFE Working Paper No. 36
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35 Peter Gomber,
Satchit Sagade, Erik Theissen,
Moritz Christian Weber, Christian Westheide
Competition Between Equity Markets: A Review of the Consolidation Versus Fragmentation Debate
SAFE Working Paper No. 35
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34 Nicole Branger,
Patrick Grüning, Holger Kraft,
Christoph Meinerding,
Christian Schlag
Asset Pricing Under Uncertainty About Shock Propagation
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33Gabriele Camera, YiLi ChienTwo Monetary Models with Alternating Markets
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32Gabriele Camera, Alessandro Gioffré Game-Theoretic Foundations of Monetary Equilibrium
SAFE Working Paper No. 32
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31Dirk Bursian, Sven FürthTrust Me! I am a European Central Banker
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30Dirk Bursian, Markus RothOptimal Policy and Taylor Rule Cross-Checking Under Parameter Uncertainty
SAFE Working Paper No. 30
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29Iñaki Aldasoro, Ignazio AngeloniInput-Output-Based Measures of Systemic Importance
SAFE Working Paper No. 29
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28 Nicole Branger,
Holger Kraft,
Christoph Meinerding
Partial Information about Contagion Risk, Self-Exciting Processes and Portfolio Optimization
SAFE Working Paper No. 28
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27 Tobias Tröger The Single Supervisory Mechanism – Panacea or Quack Banking Regulation?
SAFE Working Paper No. 27
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26Michael Brennan, Holger Kraft Financing Asset Growth
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25 Holger Kraft,
Alexander Schmidt
Systemic Risk in the Financial Sector: What Can We Learn from Option Markets?
SAFE Working Paper No. 25
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24 Andrej Gill,
Nikolai Visnjic
Performance Benefits of Tight Control
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23 Andrej Gill,
Nikolai Visnjic
Insight Private Equity
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22Dirk Bursian, Alfons J. Weichenrieder,
Jochen Zimmer
Trust in Government and Fiscal Adjustments
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21Stefano Corradin, Reint Gropp, Harry Huizinga, Luc LaevenWho Invests in Home Equity to Exempt Wealth from Bankruptcy?
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20Zeno Adams, Roland Füss, Reint GroppSpillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach
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19Reint Gropp, Christian Gruendl, Andre GuettlerHidden Gems and Borrowers with Dirty Little Secrets: Investment in Soft Information, Borrower Self-selection and Competition
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18 Alfons J. Weichenrieder,
Jochen Zimmer
Euro Membership and Fiscal Reaction Functions
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17 Holger Kraft,
Frank Thomas Seifried
Stochastic Differential Utility as the Continuous-Time Limit of Recursive Utility
SAFE Working Paper No. 17
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16Marius Ascheberg, Nicole Branger,
Holger Kraft,
Frank Thomas Seifried
When Do Jumps Matter for Portfolio Optimization?
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15 Holger Kraft,
Claus Munk, Frank Thomas Seifried, Sebastian Wagner
Consumption Habits and Humps
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14Dirk Bursian, Ester FaiaTrust in the Monetary Authority
SAFE Working Paper No. 14
Jan 2013 Working Papers Macro Finance 1356994800SAFE Working Paper
13Laurent Calvet, Paolo SodiniTwin Picks: Disentangling the Determinants of Risk-Taking in Household Portfolios
SAFE Working Paper No. 13
Jan 2013 Working Papers Household Finance 1356994800SAFE Working Paper
12Marcel Bluhm, Ester Faia, Jan Pieter Krahnen Endogenous Banks’ Networks, Cascades and Systemic Risk
SAFE Working Paper No. 12
Jan 2013 Working Papers Macro Finance, 1356994800SAFE Working Paper
11 Nicole Branger,
Holger Kraft,
Christoph Meinerding
The Dynamics of Crises and the Equity Premium
SAFE Working Paper No. 11
Jan 2013 Working Papers Financial Markets, 1356994800SAFE Working Paper
10Tim Eisert, Christian EufingerInterbank Network and Bank Bailouts: Insurance Mechanism for Non-Insured Creditors?
SAFE Working Paper No. 10
Jan 2013 Working Papers Law and Finance, 1356994800SAFE Working Paper
9Christian Eufinger, Andrej Gill Incentive-Based Capital Requirements
SAFE Working Paper No. 9
Jan 2013 Working Papers Law and Finance, 1356994800SAFE Working Paper
8Ignazio Angeloni, Ester Faia, Marco Lo DucaMonetary Policy and Risk Taking
SAFE Working Paper No. 8
Jan 2013 Working Papers Macro Finance 1356994800SAFE Working Paper
7Matthieu Darracq Pariès, Ester Faia, Diego Rodriguez PalenzuelaBank and Sovereign Debt Risk Connection
SAFE Working Paper No. 7
Jan 2013 Working Papers Macro Finance, 1356994800SAFE Working Paper
6 Holger Kraft,
Eduardo S. Schwartz, Farina Weiss
Growth Options and Firm Valuation
SAFE Working Paper No. 6
Jan 2013 Working Papers Financial Markets, 1356994800SAFE Working Paper
5Grigory Vilkov, Yan XiaoOption-Implied Information and Predictability of Extreme Returns
SAFE Working Paper No. 5
Jan 2013 Working Papers Financial Markets 1356994800SAFE Working Paper
4Markku Kaustia, Elias RantapuskaDoes Mood Affect Trading Behavior?
SAFE Working Paper No. 4
Jan 2013 Working Papers Household Finance 1356994800SAFE Working Paper
3Markku Kaustia, Antti Lehtoranta, Vesa PuttonenDoes Sophistication Affect Long-Term Return Expectations? Evidence from Financial Advisers' Exam Scores
SAFE Working Paper No. 3
Jan 2013 Working Papers Household Finance 1356994800SAFE Working Paper
2Markku Kaustia, Samuli Knüpfer, Sami TorstilaStock Ownership and Political Behavior: Evidence from Demutualization
SAFE Working Paper No. 2
Jan 2013 Working Papers Household Finance 1356994800SAFE Working Paper
1Dimitris Georgarakos, Michael Haliassos, Giacomo PasiniHousehold Debt and Social Interactions
SAFE Working Paper No. 1
Jan 2013 Working Papers Household Finance 1356994800SAFE Working Paper