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Veranstaltungen der Abteilung Makroökonomie

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362 Ergebnisse, ab 221
  • 15. Februar 2017

    Seminar

    Is it the "How" or the "When" that Matters in Fiscal Adjustments?

    Speaker: Carlo Favero, Bocconi University
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    Using data from 16 OECD countries from 1981 to 2014 we find that the composition of fiscal adjustments is much more important than the state of the cycle in determining their e¤ects on output. Adjustments based upon spending cuts are much less costly than those based upon tax increases regardless of whether they start in a recession or not. Our results appear not to be systematically ...

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  • 8. Februar 2017

    Seminar

    Strains on money market makers and money market liquidity

    Speaker: Falko Fecht, Frankfurt School of Finance and Management
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    We analyze the trading book of a key market maker in the European unsecured money market and study the extent to which liquidity risks accumulated by this market maker affect his pricing of liquidity and the bid/ask spread he quotes on unsecured borrowing and lending. We find that the larger the funding liquidity risk he assumed, the higher is the price he quotes for liquidity. Furthermore, his ...

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  • 1. Februar 2017

    Seminar

    Daily Currency Interventions in Emerging markets: Incorporating Reserve Accumulation to the Reaction Function

    Speaker: Michael Frömmel, Ghent University
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    This study considers emerging market central bank interventions motivated by international reserve management. Emerging market central banks use currency intervention as a policy tool against exchange rate movements and accumulate international reserves as an insurance against sudden stops or reversals in capital flows. To account for both of these motivations, the model of Ito and Yabu (2007), ...

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  • 25. Januar 2017

    Seminar

    Bank Resolution and the Structure of Global Banks

    Speaker: Martin Oehmke, London School of Economics
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

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  • 18. Januar 2017

    Seminar

    Labor market reforms and current account imbalances - beggar-thy-neighbor policies in a currency union?

    Speaker: Timo Baas, University Duisburg-Essen
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    Member countries of the European Monetary Union (EMU) have initiated wideranging labor market reforms in the last decade. This process is ongoing, as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union. This fosters fears among observers about a beggar-thy-neighbor policy that leaves non-reforming ...

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  • 11. Januar 2017

    Seminar

    Institutions, public debt and growth in Europe

    Speaker: Klaus Masuch, European Central Bank
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    This paper shows that initial cross-country institutional differences can explain to a substantial extent the relative GDP performance of European countries since 1995, after controlling for the initial level of GDP per capita and government debt. It shows that improving the quality of institutions could lead to significantly higher per capita GDP. It also shows that an initial government debt ...

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  • 14. Dezember 2016

    Seminar

    Did the Swiss exchange rate shock shock the market?

    Speaker: Gregor Schweinitz, Leibniz-Institut für Wirtschaftsforschung Halle
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

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  • 13. Dezember 2016

    DIW Europe Lecture

    The Populist Turn in American Politics: Implications for Europe

    Speaker: Barry Eichengreen
    Ort: Schumpeter Hall
    Mohrenstr. 58
    10117 Berlin
    Zeit: 17:30 - 19.00 Uhr

    The DIW Europe Lecture is a lecture series by leading policy-makers and academics on the future of Europe. The series aims at fostering and informing the debate on key European policy issues, and at bringing this debate to the heart of Germany's policy-making in Berlin.  This lecture will trace the populist turn in American politics, and identify instances and conditions under which ...

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  • 7. Dezember 2016

    Seminar

    Credit Growth and the Financial Crisis: A New Narrative.

    Speaker: Stefania Albanesi, University of Pittsburgh
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    A broadly accepted view of the financial crisis contends that it was caused by an expansion in the supply of credit to high risk borrowers during the 2002-2006 credit boom. The expansion in subprime credit led to the spike in defaults and foreclosures that sparked the 2007-09 crisis. The resulting decline in housing values determined a broad contraction in credit and consumption, substantially ...

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  • 23. November 2016

    Seminar

    Monetary Policy, Real activity, and Credit Spreads: Evidence from Bayesian Proxy SVARs

    Speaker: Dario Caldara, Federal Reserve
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    This paper studies the interaction between monetary policy, financial markets, and the real economy. We develop a Bayesian framework to estimate proxy structural vector autoregressions (SVARs) in which monetary policy shocks are identified by exploiting the information contained in high frequency data. For the Great Moderation period, we find that monetary policy shocks are key drivers of  ...

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  • 18. - 19. November 2016

    Workshop

    Macroeconometric Workshop 2016

    Ort: Schumpeter Saal
    DIW Berlin im Quartier 110
    Mohrenstraße 58
    10117 Berlin

    The DIW Berlin organizes its annual workshop on macroeconometricmodelling. The workshop will be held at the German Institute for Economic Research, in the center of Berlin.The aim of the workshop is to bring together academic researchers and practitioners to promote and exchange ideas in the field of macroeconometric modelling.

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  • 16. November 2016

    Seminar

    Monetary shocks at high-frequency and their
    changing FX transmission around the globe

    Speaker: Andreas Schrimpf, Bank for International Settlements
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    We show that the impact of monetary policy on exchange rates has been growing significantly in recent years. Our results are established by a high-frequency event study of how key fixed income instruments - Overnight-Index Swaps (OIS) and Bonds - respond jointly with exchange rates to news about monetary policy from seven major central banks. News a ecting short-term maturity bonds tend to have ...

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  • 9. November 2016

    Seminar

    Monetary Policy Shocks, Sign Restrictions, and Asset Prices

    Speaker: Gabor Uhrin, Universität Göttingen
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin

    A central question in the empirical monetary policy literature is how do asset prices respond to an unexpected monetary policy shock. We provide empirical evidence on this issue by augmenting the VAR model specification of Uhlig (2005) with the S&P 500 Composite Index, and estimating the model on monthly US data. We use the sign restrictions put forth in Uhlig (2005) as identifying assumptions ...

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  • 3. November 2016

    Konferenz

    Conference partners are Financial Risk and Stability Network (organiser), Bruegel, DIW Berlin, ESMT Berlin and Jacques Delors Institut Berlin (scientific co-organisers).

    Ort: ESMT Berlin
    European School of Management and Technology
    Schloßplatz 1
    10178 Berlin
    Zeit: 8.15 am to 6.00 pm

    The conference topics relate to the current situation of banks in the EU and the efforts to make the financial system more resilient. Eight years after the financial crisis the banking sector remains in part fragile. Moreover, one crucial aim of last years regulatory reforms has not been reached: To clean-up and achieve a level playing field. In particular, the hazardous interdependency between ...

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  • 2. November 2016

    Seminar

    Misallocation in the Market for Intermediate Inputs

    Speaker: Johannes Boehm, Sciences Po
    Zeit: 12:00 - 13:15

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  • 26. Oktober 2016

    Seminar

    Man-cessions, Fiscal Policy, and the Gender Composition of Employment

    Speaker: Roland Winkler, TU Dortmund
    Zeit: 12:00 - 13:15

    In recessions, predominantly men lose their jobs, which has been described by the term ”mancessions”. Against this background, we analyze whether fiscal expansions foster job creation predominantly for men. Yet, we find empirically that fiscal shocks lead to employment growth that is larger for women than for men. We show that the gender-specific employment effects of fiscal policy are ...

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  • 21. Oktober 2016

    Veranstaltung

    IWF-Report zur globalen Finanzmarktstabilität

    Speaker: Dr. Gaston Gelos, Leiter der Abteilung Globale Finanzstabilität des Internationalen Währungsfonds (IWF) Prof. Marcel Fratzscher Ph.D., Präsident des DIW Berlin, Marcel Fratzscher
    Ort: Schumpeter Hall
    Mohrenstr. 58
    10117 Berlin
    Zeit: 11.45 bis 13.00 Uhr

    Gaston Gelos stellt den im Herbst 2016 veröffentlichten Bericht zur globalen Finanzmarktstabilität vor. Wo liegen die aktuellen Risiken zur Finanzstabilität weltweit? Desweiteren: Verliert die Geldpolitik durch die wachsende Rolle der Nichtbanken an Effektivität? Und: Welche Konsequenzen für die internationale Stabilität hat die Corporate Governance in Schwellenlä ...

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  • 19. Oktober 2016

    Seminar

    Monetary facts revisited

    Speaker: Boris Hofmann, Bank for International Settlements
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin
    Zeit: 12:00 - 13:15

    This paper uses a cross-country database covering 46 economies over the post-war period to revisit two key monetary facts: (i) the long-run link between money growth and inflation and (ii) the link between credit growth and financial crises. The analysis reveals that the former has weakened over time, while the latter has become stronger. Moreover, the money-inflation nexus has been stronger in ...

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  • 17. August 2016

    Seminar

    Why Are Big Banks Getting Bigger?

    Speaker: Christoffer Koch, Federal Reserve Bank of Dallas
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin
    Zeit: 12:00 - 13:15

    We analyze the increasing concentration of U.S. banking assets using nonparametric empirical methods that characterize dynamic power law distributions in terms of two shaping factors the asset reversion rates and idiosyncratic volatilities for different size-ranked banking institutions. We show that the greater concentration of bank-holding company (BHC) assets is caused by decreased mean ...

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  • 20. Juli 2016

    Seminar

    The risk-return relationship

    Speaker: Minxian Yang, University of New South Wales
    Ort: Gustav-Schmoller-Raum
    DIW Berlin im Quartier 110
    Room 3.3.002A
    Mohrenstraße 58
    10117 Berlin
    Zeit: 12:00 - 13:15

    The risk return relationship is analysed in bivariate models for return and realised variance (RV) series. Based on daily time series from 21 international market indices for more than 13 years (January 2000 to February 2013), the empirical findings support the arguments of risk return tradeoff, volatility feedback and statistical balance. It is argued that the empirical risk return relationship ...

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362 Ergebnisse, ab 221
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