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733 results, from 511
Diskussionspapiere 1387 / 2014

Impact of Renewable Energy Act Reform on Wind Project Finance

The 2014 reform of the German Renewable Energy Act introduces a mandatory shift from a fixed feed-in tariff to a floating premium system. This is envisaged to create additional incentives for project developers, but also impacts revenues and costs for new investments in wind generation. Thus uncertainties for example about balancing costs and the impact of the location specific generation profile on ...

2014| Matthew Tisdale, Thilo Grau, Karsten Neuhoff
DIW Economic Bulletin 6 / 2014

Pitfalls of Compound Interest Effect: Private Investors Underestimate Loss Risks of Financial Products

People are investing their life savings in financial products, for instance, to provide for their retirement, and in doing so they are making their future financial situation almost entirely dependent on the success of these investments. The financial sector promotes numerous investment opportunities with widely varying levels of risk - from the classic private pension insurance to high-risk equity ...

2014| Christian Zankiewicz

Macroeconomics and Financial Markets: Essays on Micro-Macro Linkages ; Dissertation

Die globale Finanz- und Wirtschaftskrise hat verdeutlicht, dass enge Verflechtungen zwischen Real- und der Finanzwirtschaft bestehen. Darüber hinaus hat die Krise gezeigt, dass einzelwirtschaftliche Strukturen eine wichtige Rolle für die Stabilität der Gesamtwirtschaft spielen. In dieser Dissertation werden die Verflechtungen zwischen einzel- und gesamtwirtschaftlicher Ebene, sowie zwischen dem Finanzsektor ...

Tübingen: Universität Tübingen, 2014, IX, 176 S. | Franziska Bremus
DIW Economic Bulletin 3 / 2014

Financial Sector: Upward Trend in Share of Women on Corporate Boards Progressing Only in Small Steps

Last year, more women were appointed to the executive boards of major financial institutions. The share of women on the executive boards of banks and savings banks at the end of 2013 was a good six percent, which represents an increase of almost two percentage points over the previous year. This increase is primarily attributable to changes at private financial institutions and cooperative banks. At ...

2014| Elke Holst, Anja Kirsch
Diskussionspapiere 1352 / 2014

The Global Crisis and Equity Market Contagion

We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of contagion. While we find evidence of contagion from the U.S. and the global financial sector, the effects are small. By contrast, there has been substantial ...

2014| Geert Bekaert, Michael Ehrmann, Marcel Fratzscher, Arnaud Mehl

Capital Controls and Macroprudential Measures: What Are They Good For?

Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding to changes in variables that the CFMs are intended to influence. This paper addresses these challenges by ...

London: CEPR, 2014, 54 S.
(Discussion Paper Series / Centre for Economic Policy Research ; 9798)
| Kristin Forbes, Marcel Fratzscher, Roland Straub
Diskussionspapiere 1422 / 2014

Institutional Determinants of Financial Development in MENA Countries

Developed and well regulated financial markets are usually seen as a precondition for an efficient allocation of resources and can foster long term economic growth. This paper explores the institutional determinants for financial development in the countries of the Middle East and North African (MENA) region. Institutional conditions are from the International Country Risk Guide. Paneleconometric techniques ...

2014| Mondher Cherif, Christian Dreger
Weitere Aufsätze

A Statistical Comparison of Alternative Identification Schemes for Monetary Policy Shocks

In: Johan Knif, Bernd Pape (Eds.) , Contributions to Mathematics, Statistics, Econometrics, and Finance : Essays in Honour of Professor Seppo Pynnönen
Vaasa : University of Vaasa
S. 137-152
Acta Wasaensia ; 296 : Statistics ; 7
| Markku Lanne, Helmut Lütkepohl
Diskussionspapiere 1367 / 2014

Search-Based Endogenous Illiquidity and the Macroeconomy

We endogenize asset liquidity in a dynamic general equilibrium model with search frictions on asset markets. In the model, asset liquidity is tantamount to the ease of issuance and resaleability of private financial claims, which is driven by investors' participation on the search market. Limited resaleability of private claims creates a role for liquid assets, such as government bonds or fiat money, ...

2014| Wei Cui, Sören Radde
Diskussionspapiere 1309 / 2013

Bank Lending Procyclicality and Credit Quality during Financial Crises

This paper analyses macroeconomic and financial determinants of bad loans applying a SVAR approach to investigate whether excessive loans granted during expansionary phases can explain the more than proportional increase in non-performing loans during contractionary periods. The results indicate that the effects of a permanent shock to bad loans on the excess of credit are significant and persistent ...

2013| Guglielmo Maria Caporale, Stefano Di Colli, Juan Sergio Lopez
733 results, from 511