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Diskussionspapiere 1844 / 2020

Legal History, Institutions and Banking System Development in Africa

This paper links banking systems development to the colonial and legal history of African countries. Specifically, we investigate the impact of differing legal traditions on the development of existing investor and creditor protection, and on African banking systems. Based on a sample of 40 African countries from 2000 to 2016, our empirical findings show a significant dependence of current financial ...

2020| Samuel Mutarindwa, Dorothea Schäfer, Andreas Stephan
DIW Lecture on Money and Finance

Monetary Policy in the Modern Era

26.02.2020| Gabriel Makhlouf, Ulrike Neyer, Hans-Helmut Kotz, Dorothea Schäfer
Diskussionspapiere 1869 / 2020

Institutional Diversity in Domestic Banking Sectors and Bank Stability: A Cross-Country Study

This paper analyzes the causal relationship between institutional diversity in domestic banking sectors and bank stability. We use a large bank- and country-level unbalanced panel data set covering the EU member states’ banking sectors between 1998 and 2014. Constructing two distinct indicators for measuring institutional diversity, we find that a high degree of institutional diversity in the domestic ...

2020| Christopher F. Baum, Caterina Forti Grazzini, Dorothea Schäfer
Diskussionspapiere 1866 / 2020

Currency Futures' Risk Premia and Risk Factors

The use of futures exchange contracts instead of forwards completes the maturity spectrum of the correlation between the spot yield and the premium. We find that the forward premium puzzle (FFP) depends significantly on the maturity horizon of the futures contract and the choice of sampling period. The FFP appears to be a pre-crisis phenomenon and is only observed for maturities longer than about one ...

2020| Kerstin Bernoth, Jürgen von Hagen, Casper G. de Vries
Vierteljahrshefte zur Wirtschaftsforschung 3 / 2020

Development Banks – Not Only Important in Times of Covid-19: Editorial

2020| Andreas Pfingsten, Dorothea Schäfer
Event

2. DIW Women’s Finance Summit

After failing to fully recover from the last financial crisis, the pandemic poses major new challenges for banks. However, this time, banks are not the problem, but part of the solution. By providing credit to the economy, banks play a crucial role in fighting the pandemic by ensuring the transmission of fiscal and monetary stimulus to the economy. Nevertheless, banks are not among the winners of...

06.05.2021| Jill Ader, Megan Butler, Mary Erdoes, Sir Douglas Flint CBE, Franziska Giffey, Peter Grauer, Ulrike Hoffmann-Burchardi, Charlotte Hogg, Sabine Keller-Busse, Elke König, Sabine Lautenschläger, Christiana Riley, Isabel Schnabel, Brenda Trenowden CBE, Axel A. Weber, Moderator: Gillian Tett, Marcel Fratzscher
Externe referierte Aufsätze

The Appropriateness of the Macroeconomic Imbalance Procedure for Central and Eastern European Countries

The European Commission’s Scoreboard of Macroeconomic Imbalances is a rare case of a publicly released early warning system. It was published first time in 2012 by the European Commission as a reaction to public debt crises in Europe. So far, the Macroeconomic Imbalance Procedure takes a one-size-fits-all approach with regard to the identification of thresholds. The experience of Central and Eastern ...

In: Empirica (2020), im Ersch. [online first: 2020-02-05] | Geraldine Dany‑Knedlik, Martina Kämpfe, Tobias Knedlik
Report

Vierteljahrsheft 1/2020: Debt – Blessing or Curse?

Since the 1980s, especially in the new millenium, the issue of debt is increasingly the focus of political debates, as an analysis of parliamentary speeches since 1949 shows. More than ten years after the outbreak of the great financial crisis and almost ten years since the beginning of the European sovereignty debt crisis, there are not just questions about the opportunities and risks of debt but ...

25.03.2020| Dorothea Schäfer
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
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