-
Seminar of the Macro Department
11.01.2022| Alexander Kriwoluzky
-
Schumpeter BSoE Macro Seminar
04.01.2022| Prof. Ryan Kim, Johns Hopkins University
-
Diskussionspapiere 1993 / 2022
This paper studies external sovereign bonds as an asset class. It compiles a new database of 266,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the Battle of Waterloo) and 2016, covering up to 91 countries. The main insight is that, as in equity markets, the returns on external sovereign bonds have been sufficiently high to compensate for risk. Real ...
2022| Josefin Meyer, Carmen M. Reinhart, Christoph Trebesch
-
DIW Weekly Report 3/4 / 2022
2022| Anja Kirsch, Virginia Sondergeld, Katharina Wrohlich
-
DIW Weekly Report 3/4 / 2022
There was a significant increase in the number of women on executive boards of large companies in Germany from 2020 to 2021 after years of slow progress: In fall 2021, there were 139 women on the executive boards of the 200 largest companies, 38 more than in 2020. This is an increase of a good three percentage points to almost 15 percent, the largest seen since the beginning of the DIW Berlin Women ...
2022| Anja Kirsch, Virginia Sondergeld, Katharina Wrohlich
-
DIW Weekly Report 3/4 / 2022
This second report in the DIW Berlin Women Executives Barometer 2022 explores the designs and effects of gender quotas across Europe, coming to the conclusion that they are an effective instrument for increasing the share of women in top positions at large companies. Furthermore, the quotas differ greatly between the countries, for example in regard to the number of companies subject to the quota, ...
2022| Anja Kirsch, Virginia Sondergeld, Katharina Wrohlich
-
Diskussionspapiere 1990 / 2022
Negative interest rates remain a controversial policy for central banks. We study a novel signalling channel and ask under what conditions negative rates should exist in an optimal policymaker’s toolkit. We prove two necessary conditions for the optimality of negative rates: a time-consistent policy setting and a preference for policy smoothing. These conditions allow negative rates to signal policy ...
2022| Oliver de Groot, Alexander Haas
-
Refereed essays Web of Science
This randomized controlled trial examines the effect of a new finance training style during which participants are given personalized feedback on their financial business outcomes in addition to a rule-of-thumb training approach. We compare this with the effects of a rule-of-thumb training by itself and a control group. Targeting about 500 small entrepreneurs in Uganda, we find that the personalized ...
In:
Economic Development and Cultural Change
70 (2022), 3, S. 1197-1227
| Antonia Grohmann, Lukas Menkhoff, Helke Seitz
-
Refereed essays Web of Science
Mobile money is an important instrument to improve the degree of financial inclusion, especially in developing countries. However, having a mobile money account does not imply that this account is actually used. In our sample, 86% of microentrepreneurs own a mobile money account, but only 49% actively use it – the resulting gap indicates unmet opportunities. We estimate that mobile money reaches up ...
In:
Journal of Development Studies
58 (2022), 4, S. 671-691
| Jana S. Hamdan, Katharina Lehmann-Uschner, Lukas Menkhoff
-
Refereed essays Web of Science
We provide a description of ownership patterns in the top 25 European banks for the period 2003–2015, where we especially focus on the global financial crisis. Investment managers, such as Blackrock, are dominant in terms of number of blockholdings in different banks, maintaining fairly stable “common ownership” networks throughout our sample. However, the financial crisis led to capital injections ...
In:
Journal of Competition Law & Economics
18 (2022), 1, S. 135–167
| Albert Banal-Estañol, Nuria Boot, Jo Seldeslachts