According to the 2015 Paris Agreement, a long-term goal is the commitment to “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” Reconciling climate change objectives and financial flows is an enormous challenge in the 21st century. States in general and Germany in particular have various instruments at their disposal to initiate ...
We estimate the effect of government spending shocks on the U.S. economy with a time‐varying parameter vector autoregression. The recent Great Recession period appears to be characterized by uniquely large impulse responses of output to fiscal shocks. Moreover, the particularity of this period is underlined by highly unusual responses of several other variables. The pattern of fiscal shock responses ...
Opinions regarding capital account openness have been undergoing changes. On the one hand, financial liberalization and integration are viewed as sources of economic growth and prosperity due to a better allocation of capital to productive uses. In addition, free capital mobility and access to foreign capital are considered to be important facilitators of investment as well as cross-border risk sharing. ...
Der Frauenanteil in den Vorständen der 100 größten Banken in Deutschland stagnierte 2018 bei knapp neun Prozent. In den 60 größten Versicherungen nahm er um gut einen Prozentpunkt auf fast zehn Prozent zu. Während sich damit in den Vorständen die schon in den vergangenen Jahren schwache Dynamik fortgesetzt hat, fällt sie nun auch in den Aufsichtsräten des Finanzsektors verhalten aus. Der Frauenanteil ...
The proportion of women on executive boards of the 100 largest banks stagnated at almost nine percent in 2018. In the 60 largest insurance companies, the proportion increased by a good percentage point to almost ten percent. While growth on executive boards has been weakening in past years, it is now slowing down on supervisory boards in the financial sector as well. In 2018, the proportion of women ...
Um die europäischen Kapitalmärkte krisenfester zu machen, sollen grenzüberschreitende Investitionen in Kapitalanlagen steigen – Wenn rechtliche Harmonisierung zunimmt, legen vor allem Versicherungen und Pensionsfonds mehr in Aktien im Ausland an – Im Bankensektor müssen noch mehr Anreize für Eigenkapitalinvestitionen geschaffen werden Die Finanz- und Schuldenkrise ...
We propose a novel, risk-based transmission mechanism for the effects of currency manipulation: policies that systematically induce a country's currency to appreciate in bad times lower its risk premium in international markets and, as a result, lower the country's risk-free interest rate and increase domestic capital accumulation and wages. Currency manipulations by large countries also have...
