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  • DIW Weekly Report 40 / 2022

    Activation of New ECB Emergency Program TPI Has Not Yet Been Required

    Since the beginning of 2022, monetary policy in the euro area has been gradually normalizing. As a result, bond yields of highly indebted countries such as Italy and Greece are rising more sharply than those of countries with less debt, such as Germany, a development referred to as bond market fragmentation. To ensure the coherent effectiveness of monetary policy on economic developments and, ultimately, ...

    2022| Kerstin Bernoth, Sara Dietz, Gökhan Ider, Rosa María Lastra
  • Diskussionspapiere 2012 / 2022

    Real Effects of Financial Market Integration: Evidence from an ECB Collateral Framework Change

    This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank replaced national collateral lists with a single list specifying which assets euro area banks can pledge as collateral. Banks holding newly eligible assets experience a reduction in their cost of funding and increase loan supply compared to banks without such assets. The effect is ...

    2022| Pia Hüttl, Matthias Kaldorf
  • Zeitungs- und Blogbeiträge

    Financial Education is Effective and Efficient

    In: (17.02.2022), [Online-Artikel] | Lukas Menkhoff, Tim Kaiser, Annamaria Lusardi, Carly Urban
  • Externe referierte Aufsätze

    Financial Education Affects Financial Knowledge and Downstream Behaviors

    We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. Many of these experiments are published in top economics and finance journals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge ...

    In: Journal of Financial Economics 145 (2022), S. 255–272 | Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urband
  • DIW Roundup

    How Shocks Affect Stock Market Participation

    While there is a broad consensus in the literature that stock ownership is associated with individual characteristics, such as wealth, income, risk preferences, and financial literacy, less is known about the dynamics of stock market participation (SMP). Major fluctuations in SMP are oftentimes related to political events, economic shocks, and technological disruptions. We discuss the literature...

    02.12.2022| Lorenz Meister
  • Sonstige Publikationen des DIW / Monographien

    Transformational Change towards Low-carbon Development in Emerging Economies: Insights from International Climate Finance Cases

    2020| Nils May, Heiner von Lüpke, Camila Yamahaki, Gustavo Velloso Breviglieri, Annelise Vendramini, Samantha Keen, Harald Winkler, Tamiksha Singh, Saumya Malhotra, Jalpa Mishra, Julie Emmrich, Lukas Kahlen, Katharina Lütkehermöller, Cor Marijs, Alessa Widmaier, Imad Ahmed, Djoko Suroso, Budhi Setiawan, Sita Primadevi, Karsten Neuhoff, David Rusnok, Lucie Bioret, Frida von Zahn
  • Sonstige Publikationen des DIW / Monographien

    Climate Finance Interactions with National Development and Climate Policy Frameworks: Review of Current Research Status

    2020| Heiner von Lüpke, Nils May, Karsten Neuhoff
  • Schumpeter BSE Macro Seminar

    Perceptions about Monetary Policy

    24.05.2022| Michael Bauer, Universität Hamburg
  • Diskussionspapiere 2023 / 2022

    Ownership Diversification and Product Market Pricing Incentives

    We link investor ownership to profit loads on rival firms by the managers of a firm. We propose a theory model in which we distinguish between passive and active investors’ holdings, where passive investors are relatively more diversified. We find that if passive investors become relatively bigger, then common ownership incentives increase. We show that these higher incentives, in turn, are linked ...

    2022| Albert Banal-Estanol, Jo Seldeslachts, Xavier Vives
  • DIW Weekly Report 37 / 2022

    Consumer Debt: Many Borrowers Unaware of Their Interest Rates; Cost Display Influences Likelihood of Accepting Credit Scenario

    The consumer debt of households in Germany totals in the triple-digit billions and is characterized by a wide range of interest rates. Despite the high volume of debt, many people do not know the terms of their consumer credit contracts. This report analyzes new survey data on general knowledge about typical forms of consumer credit, such as the overdraft facility and consumer loans. Women tend to ...

    2022| Antonia Gipp, Jana Hamdan, Lukas Menkhoff
860 results, from 21