Financial Intermediation

The department Financial Intermediation examines the role of intermediary institutions on the capital markets, in particular banks and insurance companies, but also little or unregulated market participants such as hedge funds and what is called "shadow banks". Selected research topics are the real economic effects of banking regulation, the trade-off between stability and competition, and the consequences of digitization for the business models of financial intermediaries.


Publications

Author/sTitleProgram AreaTypePublishedKeywords
Markus Dertwinkel-Kalt, Johannes Kasinger, Dmitrij SchneiderSkewness Preferences: Evidence from Online Poker
SAFE Working Paper No. 351
Financial Intermediation SAFE Working Paper2022Online Poker; Risk Attitudes; Risk Preferences; Choice under Risk
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,
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Aljoscha Janssen, Johannes KasingerObfuscation and Rational Inattention in Digitalized Markets
SAFE Working Paper No. 306
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
White Paper No. 80
Financial Intermediation Policy Paper2021Künstliche Intelligenz, Regulatorik, Finanzbranche, eXplainable Artificial Intelligence, Machine Learning
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
SAFE Working Paper No. 300
Financial Intermediation, Data Center SAFE Working Paper2021
Reint Gropp, Thomas Mosk, Steven Ongena, Ines Simac, Carlo WixSupranational Rules, National Discretion: Increasing Versus Inflating Regulatory Bank Capital?
SAFE Working Paper No. 296
Financial Intermediation SAFE Working Paper2020
Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz, Michael Kosfeld, Nicolas Winfried PfeufferThe Economic Consequences of Algorithmic Discrimination: Theory and Empirical Evidence
SAFE Working Paper No. 287
Financial Intermediation, Experiment Center SAFE Working Paper2020 Algorithmic Discrimination, Artificial Intelligence, Game Theory, Economics, Batch Learning
Matthias Thiemann, Mario TümmlerBeyond Moral Hazard Arguments: The Role of National Deposit Insurance Schemes for Member States’ Preferences on EDIS
White Paper No. 72
Financial Intermediation Policy Paper2020Banking Union, Deposit Insurance, EDIS
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
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
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
Elsa MassocPolitics of Banking in Europe: Global Banks and Domestic Institutional Legacies
E-International Relations
Financial Intermediation Published Paper2020
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
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
Jan FriedrichThe Effect of Academic Literature on Accounting Regulation: Evidence from Leases in Germany
Accounting History Review
Financial Intermediation Published Paper2019
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
Thomas HuertasCompleting Banking Union
White Paper No. 63
Financial Intermediation Policy Paper2019Banking Union, EDIS, EDIC
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
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
Iñaki Aldasoro, Florian Balke, Andreas Barth, Egemen ErenSpillovers of Funding Dry-ups
SAFE Working Paper No. 259
Financial Intermediation 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
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
Martin Götz, Tobias Tröger, Mark WahrenburgThe Next SSM Term: Supervisory Challenges Ahead
White Paper No. 59
Financial Intermediation Policy Paper2019SSM, Banking Union, ECB supervision
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
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
Jannic CuturaDebt Holder Monitoring and Implicit Guarantees: Did the BRRD Improve Market Discipline?
SAFE Working Paper No. 232
Financial Intermediation SAFE Working Paper2018
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
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
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,
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
Rainer Haselmann, David Schoenherr, Vikrant VigRent-Seeking in Elite Networks
Journal of Political Economy
Financial Intermediation, Law and Finance Published Paper2018-
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
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
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
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
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
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
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
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
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-
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
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
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
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
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
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
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
Jan Pieter Krahnen, Laura MorettiBail-In Clauses
Financial Regulation: A Transatlantic Perspective (Cambridge University Press)
Financial Intermediation Published 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
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
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
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
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
Tobias TrögerVertragsrechtliche Fragen negativer Zinsen auf Einlagen
Neue Juristische Wochenschrift
Financial Intermediation Published Paper2015
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
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
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
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 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
Deyan RadevAssessing Systemic Fragility – A Probabilistic Perspective
SAFE Working Paper No. 70
Financial Intermediation SAFE Working Paper2014Banking Stability, Financial Distress, Tail Risk, Contagion
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
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
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
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
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
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
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
Helmut Siekmann, Volker WielandSchlechte Erfahrungen
Policy Letter No. 02, 2012
Financial Intermediation Policy Paper2012Finanztransaktionssteuer, Bankenaufsicht
Helmut GründlStellungnahme zum Gesetzentwurf der Bundesregierung: Finanzkonglomerate-Aufsichtsgesetz
Policy Letter No. 7
Financial Intermediation Policy Paper2013Finanzkonglomerate; Eigenmittelanforderungen; Aufsichtsbehörde; BaFin; Bundesbank
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
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
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
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
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
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
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
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
Günter Franke, Jan Pieter KrahnenEin staatliches Hospital für kranke Banken
Press Article No. 2, 2010
Financial Intermediation Policy Paper2010Systemisches Risiko, Bankenhospital
Helmut SiekmannDas neue System der Europäischen Finanzmarktaufsicht
White Paper No. 8, 2011
Financial Intermediation Policy Paper2011Regulierung, Finanzaufsicht, Systemrisiken
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
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
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
Jan Pieter Krahnen, Helmut SiekmannStellungnahme zum "Restrukturierungsgesetz"
White Paper No. 20, 2010
Financial Intermediation Policy Paper2010Systemisches Risiko, Restruktuierung, Abwicklung
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
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
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
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
Helmut SiekmannDie Schaffung von Einrichtungen der Finanzaufsicht auf EU-Ebene
White Paper No. 2, 2009
Financial Intermediation Policy Paper2009Gemeinschaftsagenturen, Finanzmarktaufsicht
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
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
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
Financial Intermediation Policy Paper2011debt restructuring, financial stability, bank bonds
Helmut SiekmannDie Bankenabgabe in Deutschland
Policy Letter No. 3, 2011
Financial Intermediation Policy Paper2011Bankenabgabe, Systemisches Risiko, Restrukturierungsgesetz
Jan Pieter KrahnenEuropataugliche Einlagensicherung: Vorschlag für eine dreistufige Einlagensicherung mit begrenzter europäischer Haftung
Policy Letter No. 16, 2012
Financial Intermediation Policy Paper2012Bankenunion, Einlagensicherung, Bankinsolvenzen
Jan Pieter KrahnenComment on the European Parliament Draft Report on the Proposal for a Recovery and Resolution Directive
Policy Letter No. 14, 2012
Financial Intermediation Policy Paper2012bail-in bonds, bank resolution, Liikanen Report
Reint Gropp, Christian Gruendl, Andre GuettlerHidden Gems and Borrowers with Dirty Little Secrets: Investment in Soft Information, Borrower Self-selection and Competition
SAFE Working Paper No. 19
Financial Intermediation, Transparency Lab SAFE Working Paper2013soft information, discretionary lending, relationship lending, competition
Stefano Corradin, Reint Gropp, Harry Huizinga, Luc LaevenWho Invests in Home Equity to Exempt Wealth from Bankruptcy?
SAFE Working Paper No. 21
Financial Intermediation, Transparency Lab SAFE Working Paper2013Homestead exemptions, Personal bankruptcy, Portfolio allocation, Home ownership
Holger Kraft, Alexander SchmidtSystemic Risk in the Financial Sector: What Can We Learn from Option Markets?
SAFE Working Paper No. 25
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2013Systemic risk, Value-at-risk, Equity options, Implied volatility
Florian Hett, Alexander SchmidtBank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis
SAFE Working Paper No. 36
Financial Intermediation, Transparency Lab, Experiment Center SAFE Working Paper2013Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline
Deyan RadevSystemic Risk and Sovereign Debt in the Euro Area
SAFE Working Paper No. 37
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2013Sovereign debt, Sovereign default, Financial distress, Systemic risk, Contagion, Banking stability, Tail risk
Claudia Lambert, Felix Noth, Ulrich SchüwerHow do Insured Deposits Affect Bank Risk? Evidence from the 2008 Emergency Economic Stabilization Act
SAFE Working Paper No. 38
Financial Intermediation SAFE Working Paper2013financial crisis, deposit insurance, bank regulation
H. Evren Damar, Reint Gropp, Adi MordelBanks’ Financial Distress, Lending Supply and Consumption Expenditure
SAFE Working Paper No. 39
Financial Intermediation SAFE Working Paper2014credit supply, banking, financial crisis, consumption expenditure, liquid assets, consumption smoothing
Reint 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
Financial Intermediation, Transparency Lab SAFE Working Paper2014credit supply, deleveraging, households, financial crisis
Jan Pieter Krahnen, Peter Ockenfels, Christian WildeMeasuring Ambiguity Aversion: A Systematic Experimental Approach
SAFE Working Paper No. 55
Financial Intermediation, Financial Markets, Transparency Lab, Experiment Center SAFE Working Paper2014ambiguity, valuation discount, experimental economics
Brigitte HaarEuropean Financial Regulation – Cross-Border Capital Flows, Systemic Risk and the European Banking Union as Reference Points for EU Financial Market Integration
The Oxford Handbook of Financial Regulation (Oxford University Press)
Financial Intermediation, Systemic Risk Lab Published Paper2014Financial regulation, systemic risk, microprudential supervision, European Banking Authority, macroprudential supervision, European Systemic Risk Board, European Banking Union, Single Supervisory Mechanism
Brigitte 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
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2014Financial regulation, systemic risk, microprudential supervision, European Banking Authority, macroprudential supervision, European Systemic Risk Board, European Banking Union, Single Supervisory Mechanism
Patrick Behr, Alejandro H. Drexler, Reint Gropp, Andre GuettlerFinancial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort Under an Incomplete Contract
SAFE Working Paper No. 62
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2014Loan officer, incentives, monitoring, screening, loan origination
Michael Kemmer, Jan Pieter KrahnenZukunft der Universalbanken
Policy Letter No. 9
Financial Intermediation Policy Paper2013Trennbanken, Restrukturierung, Abwicklung, Liikanen-Kommission
Jan Pieter KrahnenDeposit Insurance Suitable for Europe: Proposal for a Three-Stage Deposit Guarantee Scheme with Limited European Liability
Policy Letter No. 8
Financial Intermediation Policy Paper2013banking union; deposit insurance; bank risk
Brigitte HaarCivil Liability of Credit Rating Agencies after CRA 3 – Regulatory All-or-Nothing Approaches Between Immunity and Over-Deterrence
White Paper No. 1
Financial Intermediation Policy Paper2013Rating Agencies, regulation, contractual liability, CRA3
Helmut SiekmannStellungnahme zum Entwurf eines Dritten Gesetzes zur Umsetzung eines Maßnahmenpakets zur Stabilisierung des Finanzmarktes
White Paper No. 14, 2012
Financial Intermediation Policy Paper2012Finanzmarktstabilisierungsgesetz, Restrukturierungsfond, systemisches Risiko
Günter Franke, Jan Pieter KrahnenMarktkräfte und Finanzstabilität: Desiderate und Anreizwirkungen eines institutionellen Rahmens für Bankenrestrukturierung
White Paper No. 13, 2012
Financial Intermediation Policy Paper2012Ankeranleihen, Bail-in, systemisches Risiko, Bankenrestrukturierung
Peter Gomber, Thorsten GommelNeuausrichtung des OTC-Derivate-Marktes als Chance begreifen
White Paper No. 11, 2012
Financial Intermediation Policy Paper2012EMIR, OTC-Derivate, CDS
Reinhard H. SchmidtAktuelle Finanzmarktpolitik: Wo bleibt die Nachhaltigkeit?
White Paper No. 10, 2012
Financial Intermediation Policy Paper2012Finanzkrise, Finanzmarktpolitik, Regulierung, Nachhaltigkeit
Richard Herring, Reinhard H. Schmidt"The Economic Rationale for Financial Regulation” Reconsidered
White Paper No. 05, 2012
Financial Intermediation Policy Paper2012regulation, supervision, systemic risk
Jan Pieter KrahnenRisiko muss wieder kosten
Press Article No. 9, 2011
Financial Intermediation Policy Paper2011Anleihemärkte, systemisches Risiko, Bankeninsolvenz
Zeno Adams, Roland Füss, Reint GroppSpillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach
SAFE Working Paper No. 20
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2013Risk spillovers, state-dependent sensitivity value-at-risk (SDSVaR), quantile regression, financial institutions, hedge funds
Tobias TrögerThe Single Supervisory Mechanism – Panacea or Quack Banking Regulation?
SAFE Working Paper No. 27
Financial Intermediation SAFE Working Paper2013prudential supervision, banking union, regulatory capture, political economy of bureaucracy, Single Supervisory Mechanism (SSM), European Central Bank (ECB), European Banking Authority (EBA)
Fabio Castiglionesi, Fabio Feriozzi, Gyöngyi Lóránth, Loriana PelizzonLiquidity Coinsurance and Bank Capital
SAFE Working Paper No. 45
Financial Intermediation, Systemic Risk Lab SAFE Working Paper2014Bank Capital, Interbank Markets, Liquidity Coinsurance
Helmut Gründl, Tobias NiedrigThe Effects of Contingent Convertible (CoCo) Bonds on Insurers’ Capital Requirements under Solvency II
SAFE Working Paper No. 98
Financial Intermediation SAFE Working Paper2015Contingent Convertible Capital, CoCo Bond, Basel III, Solvency II, Life Insurance, Interconnectedness
Martin Götz, Luc Laeven, Ross LevineDoes the Geographic Expansion of Bank Assets Reduce Risk?
Journal of Financial Economics
Financial Intermediation Published Paper2016Banking, Bank Regulation, Financial Stability, Risk, Hedging, Business Cycles, Industrial Structuree
Elia Berdin, Helmut GründlThe Effects of a Low Interest Rate Environment on Life Insurers
SAFE Working Paper No. 65
Financial Intermediation SAFE Working Paper2014Life Insurers, Interest Rate Guarantees, Risk Assessment, Solvency II
Tobias NiedrigOptimal Asset Allocation for Interconnected Life Insurers in the Low Interest Rate Environment Under Solvency Regulation
SAFE Working Paper No. 97
Financial Intermediation SAFE Working Paper2015Basel III, Solvency II, Life Insurance, Interest Rate Guarantees, Asset Allocation, Contagion, Interconnectedness
Tobias TrögerRegulatory Influence on Market Conditions in the Banking Union
SAFE Working Paper No. 109
Financial Intermediation SAFE Working Paper2015banking union, macro-prudential supervision, real estate lending, bail-in, market discipline
Zeno Adams, Roland Füss, Reint GroppSpillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach
Journal of Financial and Quantitative Analysis
Financial Intermediation, Systemic Risk Lab Published Paper2014Risk spillovers, state-dependent sensitivity value-at-risk (SDSVaR), quantile regression, financial institutions, hedge funds
Fabio Castiglionesi, Fabio Feriozzi, Gyöngyi Lóránth, Loriana PelizzonLiquidity Coinsurance and Bank Capital
Journal of Money, Credit and Banking
Financial Intermediation, Systemic Risk Lab Published Paper2014Bank Capital, Interbank Markets, Liquidity Coinsurance
Elia Berdin, Helmut GründlThe Effects of a Low Interest Rate Environment on Life Insurers
The Geneva Papers on Risk and Insurance: Issues and Practice
Financial Intermediation Published Paper2015Life Insurers, Interest Rate Guarantees, Risk Assessment, Solvency II
Tobias TrögerThe Single Supervisory Mechanism – Panacea or Quack Banking Regulation?
European Business Organization Law Review
Financial Intermediation Published Paper2014prudential supervision, banking union, regulatory capture, political economy of bureaucracy, Single Supervisory Mechanism (SSM), European Central Bank (ECB), European Banking Authority (EBA)
Helmut Gründl, Tobias NiedrigThe Effects of Contingent Convertible (CoCo) Bonds on Insurers’ Capital Requirements under Solvency II
The Geneva Papers on Risk and Insurance: Issues and Practice
Financial Intermediation Published Paper2015Contingent Convertible Capital, CoCo Bond, Basel III, Solvency II, Life Insurance, Interconnectedness
Tobias NiedrigOptimal Asset Allocation for Interconnected Life Insurers in the Low Interest Rate Environment Under Solvency Regulation
Journal of Insurance Issues
Financial Intermediation Published Paper2015Basel III, Solvency II, Life Insurance, Interest Rate Guarantees, Asset Allocation, Contagion, Interconnectedness
Tobias TrögerRegulatory Influence on Market Conditions in the Banking Union
European Business Organization Law Review
Financial Intermediation Published Paper2015banking union, macro-prudential supervision, real estate lending, bail-in, market discipline

Ongoing Research Projects

CategoryProjectResearcherProject DurationKeywordsProject IDPublication Count
Financial Intermediation, Law and Finance, Financial Markets

From Machine Learning to Machine Teaching – Making Machines AND Humans Smarter (ML2MT)

Hendrik Drachsler, Oliver Hinz, Kristian Kersting, Loriana Pelizzon, Gernot Rohde, Yee Lee Shing, Tobias Tröger20221781011
Financial Intermediation

The Capital Purchase Program and Board Appointment

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

Crises, Anti-Finance Opinions and Populisms in Europe

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

Digitalization of the Financial System

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

Mirror, Mirror in the Wall: Algorithmic Assessments and Self-Fulfilling Prophecies

Kevin Bauer, Andrej Gill20201
Financial Intermediation

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

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

Asset Concentration Risk and Insurance Solvency Regulation

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

Networks and Corporate Governance

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

How do Startups Grow?

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

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

Renée Adams, Thomas Mosk2019219001
Financial Intermediation

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

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

Foundations of Law and Finance

Rainer Haselmann, Casimiro Antonio Nigro, Tobias Tröger2018212911
Financial Intermediation

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

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

In or Out? In-Group Bias in Diverse Social Environments

Kevin Bauer, Florian Hett2018Overlapping group affiliations; Pro-social behavior; Ingroup bias; Diversity management1
Financial Intermediation

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

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

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

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

Stability through Deliberation: Finance and Public Law

Matthias Goldmann, Grygoriy Pustovit2016211931
Financial Intermediation, Household Finance

Social Networks and Informal Lines of Credit

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

Financial Interactions in the Presence of Ambiguity

Wenhui Li, Peter Ockenfels, Christian Wilde2016216501

Current Research Team

ResearcherPosition
Bauer, Kevin Advanced Researcher
Bischof, Jannis SAFE Fellow
Gill, Andrej SAFE Fellow
Goldmann, Matthias Advanced Researcher
Gründl, Helmut SAFE Fellow
Haselmann, Rainer External Researcher, SAFE Fellow
Hett, Florian SAFE Fellow
Krahnen, Jan Pieter Senior Researcher
Leuz, Christian SAFE Fellow
Mertens, Daniel External Researcher
Skiera, Bernd SAFE Fellow
Thiemann, Matthias External Researcher
Tröger, Tobias Senior Researcher
Vig, Vikrant SAFE Fellow
Walz, Uwe Senior Researcher