334 Ergebnisse, ab 21

The effect of the low nominal interest rate 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 does a low interest rate...

Aktuelles Projekt| Makroökonomie

„Big Bank Theory“: Lieber grenzüberschreitend als national konsolidieren. Kommentar von Franziska Bremus

Eine mögliche Fusion von Deutscher Bank und Commerzbank steht seit einigen Monaten im Raum. Jüngst haben beide Geldhäuser die Aufnahme von Gesprächen öffentlich gemacht. Vor dem Hintergrund der geringen Profitabilität und internationalen Bedeutung deutscher Banken wird die Debatte bislang vor allem betriebswirtschaftlich und politisch geführt. Aber welche gesamtwirtschaftlichen ...

27.03.2019| Franziska Bremus
DIW Wochenbericht 9 / 2019

Bankenchampions sind keine Lösung: Kommentar

2019| Dorothea Schäfer

Reforms and the Real Exchange Rate: The Role of Pricing-to-Market

The paper investigates how endogenous markups affect the extent to which policy reforms can inuence international competitiveness. In a two-country model where trade costs allow for international market segmentation, we show that endogenous pricing-to-market behavior of firms acts as an important transmission channel of the policies. By strengthening the degree of competition between rms, product...

10.04.2019| Celine Poilly, University of Aix-Marseille, France

Ambiguity Attitudes about investments: Evidence from the field

Using an incentivized survey and a representative sample of investors, we elicit ambiguity attitudes toward a familiar company stock, a local stock index, a foreign stock index, and a crypto currency. We separately estimate ambiguity aversion (ambiguity preferences) and perceived ambiguity levels (perceptions about ambiguity), while controlling for unknown likelihood beliefs. We show that...

15.05.2019| Roy Kouwenberg, Mahidol University, Bangkok

European unemployment insurance

The paper explores the scope for a federal unemployment insurance scheme in the euro area. It models a union of atomistic member states that have authority over a wide range of domestic labor-market policies. Member states are faced with idiosyncratic business-cycle shocks, but are prevented from international borrowing.Labor-market frictions and wage rigidities mean that business cycles are...

22.05.2019| Marek Jarocinski, European Central Bank

International spillovers of the Fed and ECB monetary policy surprises

This paper uses a structural vector autoregression identified with the high frequency approach to study the international spillovers of the Fed and ECB monetary policy surprises. It distinguishes between the news about monetary policy (monetary policy shocks) and news about the economy in these surprises. The paper finds that the Fed monetary policy shocks have a very strong effect on the euro...

05.06.2019| Marek Jarocinski, European Central Bank

Microforecasting with Individual Forecast Selection

19.06.2019| Raffaella Giacomini, University College London
334 Ergebnisse, ab 21