Similar Search Results

Empirical risk analysis of pension insurance: the case of Germany

Schmieder, Christian; Reinschmidt, Timo; Mager, Ferdinand; … - Deutsche Bundesbank - 2006

With this paper we seek to contribute to the literature on pension insurance systems. The financial literature tends to … focus exclusively on the US pension insurance system. This is the first major empirical study to address the German … occupational pension insurance (PSVaG) plan in Germany. The study is based on a Merton-type one-factor model, in which we determine …

Persistent link: https://www.econbiz.de/10005059006

Investment Behaviour of German Equity Fund Managers

Arnswald, Torsten - Deutsche Bundesbank - 2001

, in the data on investment behaviour. Common to all types is the primary aim of achieving above-average returns on … investment with due allowance being made for sluggishness in the reaction of market prices to new information. Another universal … significant extent, by time horizons and the fear of market movements. Besides investment focus and basic attitudes towards market …

Persistent link: https://www.econbiz.de/10005083125

The dark and the bright side of liquidity risks: evidence from open-end real estate funds in Germany

Fecht, Falko; Wedow, Michael - Deutsche Bundesbank - 2009

We use a unique and comprehensive data set on open-end real estate funds in Germany to study a liquidity crisis that hit this industry between 2005 and 2006. Since this industry is comparably unregulated our data set permits us to contrast competing explanations of liquidity crisis. We find that...

Persistent link: https://www.econbiz.de/10008533497

Are there disadvantaged clienteles in mutual funds?

Jank, Stephan - Deutsche Bundesbank - 2010

, financial corporations, and insurance companies and pension funds, establishing the following findings: Financial corporations … have a strong tendency to chase past performance and also hold an increased share in the top performing funds. Insurance …

Persistent link: https://www.econbiz.de/10008833257

Cash holdings of German open-end equity funds: Does ownership matter?

Dötz, Niko; Weth, Mark - Deutsche Bundesbank - 2013

In the light of the recent financial crisis, the discussion on the nature of runs and on the stabilizing role of liquidity holdings has intensified. This paper explores the cash management conducted by German open-end equity funds for the period between 2005 and 2010. Since ownership structures...

Persistent link: https://www.econbiz.de/10010984710

How is the low-interest-rate environment affecting the solvency of German life insurers?

Kablau, Anke; Weiß, Matthias - Deutsche Bundesbank - 2014

Life insurance companies are affected directly by the impact of the low-interestrate environment. To fulfil promised … funds requirements. This points to a potential solvency risk in the life insurance industry. …

Persistent link: https://www.econbiz.de/10011093842

Wie wirkt sich das Niedrigzinsumfeld auf die Solvabilität der deutschen Lebensversicherer aus?

Kablau, Anke; Weiß, Matthias - Deutsche Bundesbank - 2014

Persistent link: https://www.econbiz.de/10011093843

Wertpapierdepots

Deutsche Bundesbank - Frankfurt, M. : Dt. Bundesbank - 1993 - 2005; damit Ersch. eingest.

Persistent link: https://www.econbiz.de/10000505412

Interest rate risk and the Swiss solvency test

Eder, Armin; Keiler, Sebastian; Pichl, Hannes - Deutsche Bundesbank - 2013

In this paper, we present a new approach to measuring interest rate risk for insurers within the Swiss Solvency Test, which overcomes the shortcomings of the standard model. The standard model of the Swiss Solvency Test is based on more interest rate risk factors than are actually needed to...

Persistent link: https://www.econbiz.de/10010957135

The Contribution of Rapid Financial Development to Asymmetric Growth of Manufacturing Industries: Common Claims vs. Evidence for Poland

Furstenberg, George M. von - Deutsche Bundesbank - 2004

CEE countries such as Poland started to experience a very high rate of financial development within a few years after emerging from socialism. A review of the literature suggests that this asymmetric development should have been most beneficial for those industry sectors most dependent on...

Persistent link: https://www.econbiz.de/10005083067