Central bank collateral policy specifies which assets banks can pledge as collateral to obtain central bank funding and is an important determinant of liquidity in the banking system. We propose a high-frequency identification approach to study the systematic effects of central bank collateral policy on banks, financial markets, and asset prices. We identify collateral policy surprises using intraday ...
October 8, 1936 – † April 4, 2026 Professor Dr. Richard Hauser passed away in early April at the age of 89. With his death, the SOEP longitudinal study loses one of its founding fathers, long-time promoters, and consistently reliable supporters. Richard Hauser, together with his colleagues from the fields of economics and sociology, launched the SOEP in the early 1980s and significantly shaped its ...
Introduction Most people want two or more children, but many do not realize their fertility desires. At the same time, recent studies suggest that up to 15% of parents regret having children. To investigate how fertility mismatch relates to well-being (i.e., affect balance, life satisfaction, family life satisfaction, and work satisfaction), this preregistered study used nationally representative cross-sectional ...
In conventional proxy VAR analysis, the shocks of interest are identified by external instruments. This is typically accomplished by considering the covariance of the instruments and the reducedform residuals. Alternatively, the instruments may be internalized by augmenting the VAR process by the instruments or proxies. These alternative identification methods are compared and it is shown that the ...
This paper studies how the distance between prison and an incarcerated individual’s home affects their likelihood of recidivism. Leveraging a unique dataset covering more than 20,000 incarcerated individuals and over 200,000 prison visits, I exploit quasi-random variation in home-to-prison distance generated by facility assignment rules. I find that a 100-mile increase in placement distance raises...
