107 Ergebnisse, ab 101
DIW Economic Bulletin 5 / 2014

Low Base Interest Rates: An Opportunity in the Euro Debt Crisis

Member states of the euro area have been struggling with the legacies of the severe financial and economic crisis for four years now. But debt ratios are still rising. Negative primary balances, low growth, and low inflation do not allow for a recovery similar to the one in the US after the Second World War. Between 1946 and 1953, the US was able to almost halve its debt with no haircuts. The crisis ...

2014| Marius Kokert, Dorothea Schäfer, Andreas Stephan
DIW Economic Bulletin 42/43 / 2015

Overcoming Weaknesses in Municipal Investment

2015| Marcel Fratzscher, Ronny Freier, Martin Gornig
DIW Wochenbericht 43 / 2015

Kommunale Investitionsschwäche überwinden

2015| Marcel Fratzscher, Ronny Freier, Martin Gornig
Externe referierte Aufsätze

Sovereign Risk Premiums in the European Government Bond Market

This paper provides a study of bond yield differentials among EU government bonds on the basis of a unique data set of issue spreads in the US and DM (Euro) bond market between 1993 and 2009. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk premiums which increase with fiscal imbalances and depend negatively on the issuer's relative bond market size. The ...

In: Journal of International Money and Finance 31 (2012), 5, S. 975-995 | Kerstin Bernoth, Jürgen von Hagen, Ludger Schuknecht
DIW Economic Bulletin 13 / 2015

Unchartered Territory: Large-Scale Asset Purchases by the European Central Bank

The European Central Bank (ECB) decided at its Council meeting in January to implement a comprehensive program to purchase bonds, including euro area government bonds. The purchases are intended to anchor the rate of inflation and inflation expectations at below but close to two percent again. Given the lack of experience with this unconventional monetary policy instrument, the ECB is venturing into ...

2015| Kerstin Bernoth, Philipp König, Carolin Raab, Marcel Fratzscher
DIW Wochenbericht 13 / 2015

Unbekanntes Terrain: Anleihekäufe der Europäischen Zentralbank

Auf ihrer Ratssitzung im Januar beschloss die Europäische Zentralbank (EZB) ein umfassendes Ankaufprogramm für Anleihen, insbesondere Staatsanleihen. Die Käufe sollen dazu dienen, die Inflationsrate und die Inflationserwartungen wieder bei knapp unter zwei Prozent zu verankern. Angesichts der nur geringen Erfahrungen mit diesem unkonventionellen geldpolitischen Instrument wagt sich die EZB damit auf ...

2015| Kerstin Bernoth, Philipp König, Carolin Raab, Marcel Fratzscher
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