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892 results, from 31
  • Vierteljahrshefte zur Wirtschaftsforschung 2 / 2023

    Impact of the 2022 Interest-Rate Shock on Cooperative Banks in Germany: A Case Study

    Zwischen Juli und Dezember erhöhte die Europäische Zentralbank (EZB) ihren Leitzins äußerst kräftig um 250 Basispunkte. Dieser Zinsschock stellte für die deutschen Genossenschaftsbanken wie auch für viele andere Kreditinstitute eine große Herausforderung dar. Infolgedessen mussten die Genossenschaftsbanken deutliche Ertragseinbußen hinnehmen. Diese äußerten sich überwiegend in einem hohen Bewertungsaufwand ...

    2023| Andreas Bley
  • Vierteljahrshefte zur Wirtschaftsforschung 2 / 2023

    Dimensions and Determinants of Inflation Anchoring

    Die vorliegende Studie analysiert Dimensionen und Determinanten von umfragebasierten Maßen zur Verankerung von Inflationserwartungen. Wir analysieren 82 Volkswirtschaften über einen Zeitraum von 1995 bis 2022 und zeigen, dass verschiedene Dimensionen der Inflationsverankerung grundsätzlich stark korreliert sind; die Standardabweichung der Inflationsvorhersagen zeigt jedoch zum Teil eine andere Dynamik. ...

    2023| Joscha Beckmann, Robert L. Czudaj
  • Refereed essays Web of Science

    Selection, Socialization, and Risk Preferences in the Finance Industry: Longitudinal Evidence for German Finance Professionals

    The financial sector plays a crucial role in society. Consequently, prior research has examined the preferences of professionals working in finance. However, these studies have tended to be cross-sectional and have neglected the dynamic roles played by (self-)selection and socialization. This paper uses longitudinal data from Germany to examine how individuals’ financial risk preferences affect their ...

    In: Journal of Behavioral and Experimental Economics 106 (2023), 102071, 12 S. | Max Deter, André van Hoorn
  • Diskussionspapiere 2051 / 2023

    Collaborative Investor Engagement with Policymakers: Changing the Rules of the Game?

    Although a growing number of investors are engaging with sovereign entities on environmental, social, and governance (ESG) issues, little academic research investigates this new form of investor activism. Applying universal ownership theory and drawing on eleven case studies of policy engagement, this article analyzes what drives institutional investors to engage with government entities and what challenges ...

    2023| Camila Yamahaki, Catherine Marchewitz
  • Refereed essays Web of Science

    The Multifaceted Impact of US Trade Policy on Financial Markets

    We study the multifaceted effects of trade policy shocks on financial markets using a structural vector autoregression identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock prices heterogeneously, but generally negatively. They increase market uncertainty, lower US interest rates, and lead to an appreciation of the US dollar. ...

    In: Journal of Applied Econometrics 38 (2023), 3, S. 388-406 | Lukas Boer, Lukas Menkhoff, Malte Rieth
  • Data Documentation 104 / 2023

    Decommissioning of Nuclear Power Plants: Regulation, Financing, and Production

    2023| Alexander Wimmers, Rebekka Bärenbold, Muhammad Maladoh Bah, Rebecca Lordan-Perret, Björn Steigerwald, Christian von Hirschhausen, Hannes Weigt, Ben Wealer
  • Refereed essays Web of Science

    Insolvency Regimes and Cross-Border Investment Decisions

    This paper investigates the effect of insolvency regulation reforms on cross-border debt and equity investments at aggregate and sectoral levels. Using disaggregated data from the ECB’s Securities Holdings Statistics by Sector (SHSS) database and the OECD indicators on efficiency of insolvency regulations, we find that investors increase their debt and equity holdings in the countries that undertook ...

    In: Journal of International Money and Finance 131 (2023), 102795, 24 S. | Tatsiana Kliatskova, Loïc Baptiste Savatier, Michael Schmidt
  • Refereed essays Web of Science

    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. This new dataset allows us to document stylized facts about the use of foreign exchange interventions for countries that ...

    In: IMF Economic Review 71 (2023), 4, S. 852–884 | Marcel Fratzscher, Tobias Heidland, Lukas Menkhoff, Lucio Sarno, Maik Schmeling
  • Refereed essays Web of Science

    Crisis Stress for the Diversity of Financial Portfolios - Evidence from European Households

    In this paper, we investigate how European households changed the diversity of their financial portfolios in response to the Great Financial and the subsequent European Debt Crisis. For this purpose we apply a Difference-in-Differences (DiD) approach estimated as a correlated random effects (CRE) model to six waves of the Survey of Health, Ageing and Retirement in Europe (SHARE). We find that households ...

    In: International Review of Economics and Finance 83 (2023), S. 330-347 | Dorothea Schäfer, Andreas Stephan, Henriette Weser
  • Diskussionspapiere 2037 / 2023

    The Impacts of Global Risk and US Monetary Policy on US Dollar Exchange Rates and Excess Currency Returns

    We examine the causal relationship between US monetary policy shocks, exchange rates and currency excess returns for a sample of eight advanced countries over the period 1980M1 to 2022M11. We find that the dynamics of the US dollar exchange rate is the main driver of currency excess returns. The exchange rate is significantly affected by US monetary policy shocks, where the persistence of this shock ...

    2023| Kerstin Bernoth, Helmut Herwartz, Lasse Trienens
892 results, from 31
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