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602 results, from 21
Diskussionspapiere 1862 / 2020

Insolvency Regimes and Cross-Border Investment Decisions

This paper investigates the effect of reforms of insolvency regulations on cross-border debt and equity investments at a sectoral level. Using disaggregated data from the Securities Holdings Statistics by Sector (SHSS) and OECD-indicators on the efficiency of insolvency regulations, we find that investors prefer to invest more in countries with more efficient insolvency frameworks. The effect, however, ...

2020| Tatsiana Kliatskova, Loïc Baptiste Savatier
Vierteljahrshefte zur Wirtschaftsforschung 1 / 2020

The German Debt Brake: Approaches for an Improvement of the Technical Design

Der Artikel untersucht die deutsche Schuldenbremse von einem technischen Standpunkt aus. Mit der Ausgestaltung der Schuldenbremse anhand der EU-Methode sollte eine adäquate Aufteilung zwischen der konjunkturellen und der strukturellen Komponente des Budgetsaldos gelingen und dabei antizyklische Fiskalpolitik möglich sein. Aktuelle Studien zeigen jedoch, dass die Mechanik der Schuldenbremse eher pro-zyklischer ...

2020| Thomas Lenk, Christian Bender, Philipp Glinka
Vierteljahrshefte zur Wirtschaftsforschung 1 / 2020

The Spillover Effects of Prudential Regulation on Banking Competition

Die europäischen Aufsichtsbehörden forderten aggressiv mehr Kapital bei den Großbanken. Das könnte die Kreditvergabe an die Wirtschaft einschränken. Wir bestätigen, dass vor allem größere Banken ihre Kredite kürzten, während weniger bedeutende Banken diesen Kreditrückgang teilweise kompensierten. Darüber hinaus identifizieren wir unangenehme Spillovers aus dieser Interaktion. Insbesondere die Deleveraging-Aktivitäten ...

2020| Giovanni Ferri, Valerio Pesic
Schumpeter BSE Macro Seminar

Trade Flows and Fiscal Multipliers

10.12.2019| Nora Traum, HEC Montréal
Schumpeter BSE Macro Seminar

Resurrecting the New-Keynesian Model: (Un)conventional Policy and the Taylor rule

07.01.2020| Olaf Posch, Universität Hamburg
Monographien

Essays in International Finance

Opinions regarding capital account openness have been undergoing changes. On the one hand, financial liberalization and integration are viewed as sources of economic growth and prosperity due to a better allocation of capital to productive uses. In addition, free capital mobility and access to foreign capital are considered to be important facilitators of investment as well as cross-border risk sharing. ...

Berlin: FU Berlin, 2019, 121, XXX S. | Tatsiana Kliatskova
Sustainable Finance

5th Research Meeting on Sustainable Finance: Taxonomy and Reporting

The Sustainable Finance Research Platform meets regularly for research meetings to discuss current research topics and projects and their relevance for the political discourse at national and EU level. The aim of the research meetings is an open, informal exchange to promote the discourse on sustainable finance from a research perspective and to cooperate constructively on the basis of our...

15.08.2019
DIW Roundup 133 / 2019

Insolvency Regimes and Economic Outcomes

When in distress, a firm may need restructuring or liquidation; in either case, legal uncertainty compounds the difficulty. Sound and efficient insolvency regimes are important as these not just positively affect investment, innovation, and economic growth, but also the supply and cost of credit. The design of appropriate insolvency frameworks in Europe is, however, still controversial. The debate ...

2019| Tatsiana Kliatskova, Loïc Baptiste Savatier
Research Project

The effect of the low interest environment on household investment behavior

The objective of the project is to analyze the effects of long enduring low interest rates on household investment behavior, setting a special focus on the stock market participation of German and US households. In particular, we address four questions within the project. Did the low interest rate environment induced more households to enter the stock market? How do low interest rates affect the...

Current Project| Macroeconomics
Research Project

Macroeconomic fundamentals and asset prices – state dependence and implications for the conduct of monetary policy

Noticing the adoption of unconventional measures of monetary policy in major currency areas on the one hand and continuing globalisation and integration of international financial markets on the other hand, we analyse the linkages between monetary policy and asset prices. Apart from excess asset valuation, we consider second order dynamics (uncertainties, tail risks) as specific threats to...

Current Project| Macroeconomics
602 results, from 21