This paper studies the bank-sovereign link in a dynamic stochastic general equilibrium set-up with strategic default on public debt. Heterogeneous banks give rise to an interbank market where government bonds are used as collateral. A default penalty arises from a breakdown of interbank intermediation that induces a credit crunch. Government borrowing under limited commitment is costly ex ante as...
Christoph Große Steffen, Philipp Engler
München,
26.05.2014
| Internal Seminar of the CESifo Group
In designing education systems, policy-makers face a trade-off between the provision of higher levels of schooling and earlier labour market entries. A fundamental education reform in Germany tackles this trade-off by increasing education efficiency: The time in high school is reduced by one year while the total number of instruction hours is left unchanged. Employing administrative data on all...
Jan Marcus, Mathias Huebener
Oslo, Norwegen,
25.05.2014
- 27.05.2014| Educational Governance and Finance: Workshop of the Department of Economics and Centre for Economic Research at the Norwegian University of Science and Technology
Kerstin Bernoth
Berlin,
23.05.2014
- 20.06.2014| Economic Policy Analysis in Turbulent Times: Europe and Turkey: Boston College Summer School at DIW Berlin and Bahcesehir University
Philipp König
Berlin,
23.05.2014
- 20.06.2014| Economic Policy Analysis in Turbulent Times: Europe and Turkey: Boston College Summer School at DIW Berlin and Bahcesehir University
Dorothea Schäfer, Susan Steiner
Berlin,
23.05.2014
- 20.06.2014| Economic Policy Analysis in Turbulent Times: Europe and Turkey: Boston College Summer School at DIW Berlin and Bahcesehir University
Marcel Fratzscher
Nauen,
21.05.2014
- 22.05.2014| Von der Idee zum Erfolg - Investitionen und Innovationen für Nachhaltigkeit: econsense Impulse für Nachhaltigkeit - Nauener Gespräche 2014
Daniel Kemptner
Berlin,
21.05.2014
| Cluster-Seminar Öffentliche Finanzen und Lebenslagen: Early Retirement Disincentives: Effectiveness and Implications for Distribution and Welfare
Karl Brenke
Wiesbaden,
20.05.2014
- 21.05.2014| Selbstständig erwerbstätig - jenseits des Arbeitnehmerdaseins: Wissenschaftliche Tagung des Fachausschusses Erwerbstätigkeit/Arbeitsmarkt des Statistischen Bundesamtes
Elke Holst
Tokio, Japan,
20.05.2014
| Frauen in Führungspositionen: Symposium. Japanisch-Deutsches Zentrum Berlin (JDZB), Keizai Koho Center (KKC), Deutsches Institut für Wirtschaftsforschung (DIW)