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Heidorn, Thomas; Schmaltz, Christian - Frankfurt School of Finance and Management - 2009

Banks are liquidity brokers: they acquire it at the market in form of deposits and lend it in form of loans. As … liquidity is not for free, the costs of its acquisition have to be transferred to those (departments) that lend it. Furthermore …, banks take liquidity risk. The costs to hedge this risk have to be transferred to those that bring this risk into the bank …

Persistent link: https://www.econbiz.de/10005049668

Unternehmen im Prime Standard staying public oder going private? Nutzenanalyse der Börsennotiz

Schanz, Kay-Michael; Richard, Jörg; Schalast, Christoph - Frankfurt School of Finance and Management - 2004

sense (any more): in particular, due to the volume of their market capitalization and the liquidity of their stock, they …

Persistent link: https://www.econbiz.de/10005026953

Niederschlagsderivate

Heidorn, Thomas; Trautmann, Alexandra - Frankfurt School of Finance and Management - 2005

Some traders estimate precipitation derivatives to have a potential which increases even that of temperature derivatives. Precipitation derivatives can be used both for hedging and marketing purposes for a diverse number of possible end users. However, the complex way of measuring precipitation,...

Persistent link: https://www.econbiz.de/10005026964

The dynamics of short- and long-term CDS-spreads of banks

Almer, Thomas; Heidorn, Thomas; Schmaltz, Christian - Frankfurt School of Finance and Management - 2008

This paper studies 'Stylised Facts' and 'Determinants' of short-and long-term CDS-spreads of banks. As short-term spreads we choose 6M-, as long-term spreads we choose 5Y-spreads. In the section 'Stylised Facts' we found that the correlation between short-and long-term spreads for the total...

Persistent link: https://www.econbiz.de/10005027024

Measures of excess liquidity

Polleit, Thorsten; Gerdesmeier, Dieter - Frankfurt School of Finance and Management - 2005

The aim of this note is to provide an overview of various measures of excess liquidity, which can be defined as the … deviation of the actual stock of money from an estimated equilibrium level. Given their dynamic nature, the excess liquidity … price pressures. In addition, excess liquidity measures consider inflation as a purely monetary phenomenon: neither the …

Persistent link: https://www.econbiz.de/10005049669

How the ECB and US Fed set interest rates

Belke, Ansgar; Polleit, Thorsten - Frankfurt School of Finance and Management - 2006

Monetary policies of the ECB and US Fed can be characterised by Taylor rules, that is both central banks seem to be setting rates by taking into account the output gap and inflation. We also set up and tested Taylor rules which incorporate money growth and the euro-dollar exchange rate, thereby...

Persistent link: https://www.econbiz.de/10005026958

The relevance of real-time data in estimating reaction functions for the Euro area

Gerdesmeier, Dieter; Roffia, Barbara - Frankfurt School of Finance and Management - 2004

This paper tackles the issue of the incompleteness of information available to the central bank when taking its monetary policy decisions. It is focused on euro area data and based on the simplistic assumption of the central bank following a simple monetary policy rule à-la-Taylor. Along the...

Persistent link: https://www.econbiz.de/10005027011