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The Distribution of Debt Across Euro Area Countries : The Role of Individual Characteristics, Institutions and Credit Conditions
Bover, Olympia - 2016
the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …
Persistent link: https://www.econbiz.de/10012988756
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Do Exposures to Sagging Real Estate, Subprime or Conduits Abroad Lead to Contraction and Flight to Quality in Bank Lending at Home?
Ongena, Steven - 2016
We investigate how differential exposures by German banks to the US real estate market during the recent financial crisis affect their corporate lending in Germany. Using unique bank-level exposure data, we distinguish between three different types of bank exposures, i.e. direct exposure to the...
Persistent link: https://www.econbiz.de/10012988695
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A Stress Test Framework for the German Residential Mortgage Market : Methodology and Application
Siemsen, Thomas - 2018
This paper exploits a recent and granular data set for 1,500 German LSIs to conduct a residential mortgage stress …
Persistent link: https://www.econbiz.de/10012930939
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Banks, Markets, and Financial Stability
Eder, Armin - 2016
We use a Diamond/Dybvig-based model with two banks operating in separate regions connected by a common asset market in which banks and sophisticated depositors invest. We study the effect of a potential run (crisis) and subsequent fire sales on the asset price in both the crisis and no-crisis...
Persistent link: https://www.econbiz.de/10012988724
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Bank Risk Taking and Competition : Evidence from Regional Banking Markets
Kick, Thomas K. - 2016
This study investigates the bank competition-stability nexus using a unique regulatory dataset provided by the Deutsche …-varying characteristics of banks which are likely to influence the competition-risk taking channel. Third, we include different measures of … competition, contestability and market power, each corresponding to a different contextual level of a bank's competitive …
Persistent link: https://www.econbiz.de/10012988767
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On the exposure of insurance companies to sovereign risk: Portfolio investments and market forces
Düll, Robert; König, Felix; Ohls, Jana - 2015
A sovereign debt crisis can have significant knock-on effects in the financial markets and put financial stability at risk. This paper focuses on the transmission of sovereign risk to insurance companies as some of the largest institutional investors in the sovereign bond market. We use a firm...
Persistent link: https://www.econbiz.de/10011372077
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Interest rate risk and the Swiss solvency test
Eder, Armin; Keiler, Sebastian; Pichl, Hannes - 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/10010326841
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How is the low-interest-rate environment affecting the solvency of German life insurers?
Kablau, Anke; Weiß, Matthias - 2014
Life insurance companies are affected directly by the impact of the low-interestrate environment. To fulfil promised guarantees they may be forced to tap into their own funds, say if the current income generated is no longer sufficient to cover the policyholders' profit participation share as...
Persistent link: https://www.econbiz.de/10010435197
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Wie wirkt sich das Niedrigzinsumfeld auf die Solvabilität der deutschen Lebensversicherer aus?
Kablau, Anke; Weiß, Matthias - 2014
Die Lebensversicherer sind von den Auswirkungen des Niedrigzinsumfelds unmittelbar betroffen. Damit sie die zugesicherten Garantien erfüllen können, müssen sie unter Umständen Eigenmittel aufwenden. Dies ist dann der Fall, wenn die von den Unternehmen festgelegte Überschussbeteiligung oder...
Persistent link: https://www.econbiz.de/10010435199
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Interest Rate Risk and the Swiss Solvency Test
Eder, Armin - 2016
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/10012988653