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159 results, from 41
  • Economic Bulletin

    Risk weighting for government bonds: challenge for Italian banks

    Although banks are required to document their equity capital for loans, corporate bonds, and other receivables, they are currently exempted from the procedure when investing in government bonds: they enjoy an “equity capital privilege.” As part of the Basel III regulatory framework redraft, the privilege may be eliminated in order to disentangle the default risks between sovereigns and ...

    12.07.2017| Dorothea Schäfer
  • Interview

    Capital requirements for new government bond purchases only could be a reasonable strategy: Seven questions for Dorothea Schäfer

    Mrs. Schäfer, the Basel Committee on Banking Supervision has been negotiating the Basel III reform package since 2013. Banks have long been able to finance EU government bonds with 100% third-party debt capital. Is there agreement with regard to increasing the capital requirement for them? The committee members agree that capital requirements for EU government bonds must be implemented in the ...

    12.07.2017| Dorothea Schäfer
  • Personnel news

    Benjamin Beckers has successfully defended his dissertation

    Benjamin Beckers, who works at the Macroeconomics department, has successfully defended his dissertation at the Freie Universität Berlin.The dissertation with the title "Booms and Busts in Asset Prices: Risk Modeling, Bubble Detection, and the Role of Monetary Policy" was supervised by Prof. Dr. Helmut Lütkepohl (DIW Berlin, Freie Universität Berlin) and Prof. Dr. Kerstin Bernoth ...

    30.06.2017
  • Economic Bulletin

    No Germany-wide housing bubble but overvaluation in regional markets and segments

    Although the housing prices in the 127 largest German cities have surged strongly in recent years, there is still no sign of a Germanywide housing bubble. In comparison with 2009, the price of condominiums has risen by around 55 percent. Single-family houses cost between 38 and 45 percent more in 2016 than seven years prior, and building lot prices have risen by around 63 percent. The study at hand ...

    26.06.2017| Konstantin A. Kholodilin, Claus Michelsen
  • Press Release

    Chinese investment strategy in Europe differs according to region

    Technology transfer primary motive behind Chinese OFDI in Western Europe; access to EU internal market motivates OFDI in Central and Eastern Europe; factors influencing investment decisions differ based on type of investment China’s investment strategy in the EU differs depending on the target country. With investment in Western Europe, the main motivation is gaining access to advanced technologies. ...

    05.04.2017
  • Interview

    „China's investment strategy is different for Western and Eastern Europe“: five questions for Christian Dreger

    Mr. Dreger, how high is China’s OFDI, and how has it been developing over the past few years? Chinese global FDI amounts to 150 billion US dollars—and it is on the rise. The flows have grown substantially since the financial crisis. China is now the second largest investor in the global economy. More than 40 percent of China’s FDI in developed countries flows into Europe, and the ...

    05.04.2017| Christian Dreger
  • Economic Bulletin

    How rising income inequality influenced economic growth in Germany

    The cumulative growth rate of the German economy since reunification would have been around two percentage points higher if income inequality had remained constant. This is what simulations using the DIW Macroeconomic Model have shown. They were made under the assumption that the income distribution dynamics would not be influenced by any feedback effects of economic growth. In 2015, Germany’s ...

    15.03.2017| Marius Clemens, Stefan Gebauer, Simon Junker
  • Press Release

    The austerity policy was counterproductive in Spain, Portugal, and Italy

    DIW study showed: To some extent, drastic savings measures neutralized the effects of structural reform. The countries affected relapsed into recession without having improved their financial picture – a balanced policy mixture would have been better. The austerity measures and tax increases implemented from 2010 onwards did not reduce sovereign debt in Spain, Portugal and Italy as anticipated. ...

    22.02.2017
  • Interview

    A more balanced policy mix would be more successful: Seven questions for Philipp Engler and Mathias Klein

    Mr. Engler, Mr. Klein: In 2010, several European countries started implementing austerity measures to reduce their sovereign debt. Of these countries, you studied the southern European countries of Spain, Portugal, and Italy as examples. To what extent was the austerity policy successful there? Philipp Engler: The austerity measures were not successful. The absolute level of sovereign debt has risen ...

    22.02.2017| Philipp Engler, Mathias Klein
  • Economic Bulletin

    Climate protection and a new operator: the Eastern German lignite industry is changing

    According to the German federal government’s climate protection targets, there will be a continuous reduction of lignite-based electricity well before 2030. Simulations show that the currently authorized lignite mines in eastern Germany would not be fully depleted if the climate protection targets for 2030 were complied with. This makes planning for new mines or the expansion of existing ones ...

    13.02.2017| Claudia Kemfert, Pao-Yu Oei, Dorothea Schäfer
  • Report

    Call for papers: Growth and inequality: Challenges for EU economies

    Euroframe Conference on Economic Policy  Issues in the European UnionGrowth and inequality: Challenges for EU economies Friday, 9 June 2017, Berlin  The EUROFRAME group of research institutes (CASE, CPB, DIW, ESRI, ETLA, IfW, NIESR, OFCE, PROMETEIA, WIFO) will hold its fourteenth annual Conference on Economic Policy Issues in the European Union in Berlin on Friday 9 June 2017. ...

    03.02.2017
  • Report

    Call for Papers: Public Authority and Finance: What is the Relevant Scale and Scope of Deregulation and Re-Regulation?

    International Conference, Paris, September 1 and 2, 2017 Call for Papers This conference seeks to contribute to the ongoing research into financial regulation, combining approaches by economists, legal experts, political scientists, geographers and historians. It aims to adopt an empirical approach from a comparative and historical perspective to characterize public authority and its relationship ...

    09.01.2017
  • Report

    Call for Papers "Vierteljahrshefte zur Wirtschaftsforschung": EU Capital Markets Union – alluring opportunity or blind alley?

    Editors: Hans-Helmut Kotz and Dorothea Schäfer On September 30, 2015, the European Commission (EU COM) adopted an action plan to create a European Capital Markets Union. To reduce the alleged gap to the U.S.A. as the frontier financial system in financing Small- and Medium-Sized Enterprises (SMEs) as well as infrastructures, the EU COM aims at creating a more market-based and unified financing ...

    05.12.2016
  • Interview

    "ECB announcements lift inflation expectations by overall 20–30 basis points": seven questions to Malte Rieth

    Dr. Rieth, the European Central Bank (ECB) has initiated various bond purchase programs. What exactly is it hoping to achieve? First of all, the ECB wants to stabilize inflation and inflation expectations by purchasing bonds and assets, thus lowering interest rates— especially in the long run. Long-term interest rates are important for lending to households and businesses alike. The hope is ...

    23.09.2016
  • Report

    ECB asset purchase programs raise inflation expectations in the Euro area

    Facing deflationary threats, the ECB has engaged in several forms of asset purchase programs to fulfill its mandate of maintaining price stability. A main objective of these programs is raising inflation expectations, as these are a main determinant of actual inflation. This study empirically evaluates the effectiveness of these ECB policies in raisinginflation expectations. The results suggest that ...

    23.09.2016
  • Press Release

    The Brexit vote impact: What does the uncertainty mean for the economy?

    DIW Berlin study shows that Brexit vote-related uncertainty will do considerable damage to the European and German economies in a way that will be noticeable even two years from now – since the German economy is primarily affected by sinking business investment, policy should be more oriented toward promoting investment Uncertainty plays a major role in the economy overall – but what are ...

    10.08.2016
  • Interview

    "Machinery investment is likely to experience the strongest declines as a result of the uncertainty": seven questions to Malte Rieth

    Dr. Rieth, you’ve investigated the possible consequences of the recent spike in uncertainty related to the Brexit vote. How exactly did you measure the change in economic uncertainty here? We isolated one specific aspect that was undoubtedly related to the “Leave” vote: the change in economic uncertainty that took place overnight between June 23 and June 24, 2016. We tried ...

    10.08.2016
  • Press Release

    Brexit decision could cost the German economy 0.3 percentage points of growth in 2017

    Brexit putting a strain on trade and dampening investment across the globe – German economy likely to be affected – uncertainty about exports – investment will be restrained, and both income and consumption will lose momentum Due to the Brexit decision, the German economy is expected to grow by 0.1 percentage points less this year and by 0.3 percentage points less next year than ...

    05.08.2016
  • Report

    Brexit: What’s at stake for the financial sector?

    The United Kingdom's exit from the European Union will have far-reaching implications for the British financial sector. London is currently the financial capital of Europe, and the UK's financial institutions benefit from passport rights that allow them to provide their services throughout the Single Market. The UK plays two key roles in the European financial system: the first as a major hub for wholesale ...

    05.08.2016
  • Report

    Design and Pitfalls of Basel’s New Liquidity Rules

    Following the financial crisis of 2008/09, the Basel Committee on Banking Supervision introduced a new framework for banking regulation, commonly known as Basel III. For the first time since the inception of global banking regulation in 1988, Basel III contains explicit mandatory rules for liquidity regulation. The cornerstones of the new liquidity regulation are two balance sheet ratios that seek ...

    25.05.2016
159 results, from 41
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