Thema Finanzmärkte

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115 Ergebnisse, ab 21
DIW Wochenbericht 6 / 2020

Der Faktor Angst kann schnell um sich greifen: Interview

2020| Max Hanisch, Erich Wittenberg
DIW Weekly Report 6/7 / 2020

From Iran to Russia to Hong Kong: Geopolitical Risks Are Weighing on the German Economy

Over the past years, there has been an increase in global geopolitical risk, the most recent example being the intensifying conflict between the USA and Iran. Such geopolitical risks also affect the German economy. A geopolitical shock, defined as an unexpected increase in risk, has a significantly negative effect on the development of the German economy, and stock prices fall. By comparison, German ...

2020| Max Hanisch
Diskussionspapiere 1912 / 2020

Financial Literacy and Intertemporal Arbitrage

We study the role of financial literacy for inter-temporal decision-making using an adapted version of the Convex Time Budget Protocol (Andreoni and Sprenger 2012). While we find no evidence of dynamically inconsistent preferences in the aggregate, we document substantial heterogeneity in choice-patterns and estimated parameters at the individual-level: We find that subjects with higher levels of financial ...

2020| Luis Oberrauch, Tim Kaiser
Diskussionspapiere 1864 / 2020

Financial Education Affects Financial Knowledge and Downstream Behaviors

We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors. Treatment effects are economically meaningful ...

2020| Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urban
Diskussionspapiere 1914 / 2020

The Relationship between Financial Literacy and Financial Inclusion

About two billion people in the world do not own a financial account and there are many more who use financial services only occasionally. In the past, initiatives which address these problems of financial exclusion focused on the supply side of financial markets, in particular by increasing the branch network of banks and by offering cheap bank products. While this had the desired effect, recent ...

2020| Antonia Grohmann, Lukas Menkhoff
Diskussionspapiere 1915 / 2020

Foreign Exchange Intervention: A New Database

We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. Our new dataset allows us to document stylized facts about the use of foreign exchange interventions for countries that ...

2020| Marcel Fratzscher, Tobias Heidland, Lukas Menkhoff, Lucio Sarno, Maik Schmeling
DIW Wochenbericht 22 / 2020

Mobile Money treibt finanzielle Entwicklung Afrikas voran

Mit Hilfe von Mobile Money können Finanztransaktionen über ein Handy getätigt werden. Auch in armen Gegenden Afrikas besitzt fast jeder ein Mobiltelefon. Mobile Money könnte dafür sorgen, dass niemand mehr von Finanzdienstleistungen ausgeschlossen bleibt, und so zum wirtschaftlichen Wachs-tum des Kontinents beitragen. Tatsächlich zeigen vom DIW Berlin erhobene Daten aus Afrika, dass Mobile Money weniger ...

2020| Katharina Lehmann-Uschner, Lukas Menkhoff
DIW Wochenbericht 22 / 2020

Mobile Money trägt zur finanziellen Inklusion bei und kann negative Schocks abpuffern: Interview

2020| Katharina Lehmann-Uschner, Erich Wittenberg
DIW Weekly Report 21/22 / 2020

Mobile Money is Driving Financial Development in Africa

Mobile money is an innovation that allows financial transactions to be performed via a cell phone. Even in poor regions of Africa, almost everyone has a cell phone; therefore, mobile money could both contribute to the continent’s economic growth and ensure that no Africans are excluded from access to financial services. However, DIW Berlin data from Uganda show that mobile money is actually used less ...

2020| Katharina Lehmann-Uschner, Lukas Menkhoff
Diskussionspapiere 1854 / 2020

The Dynamic Impact of FX Interventions on Financial Markets

Evidence on the effectiveness of FX interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Generally, we find, for freely floating currencies, that FX intervention shocks significantly affect exchange rates and that this impact ...

2020| Lukas Menkhoff, Malte Rieth, Tobias Stöhr
115 Ergebnisse, ab 21
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