Narrow search
Showing 1 - 10 of 79
Cover Image
Inflation and Output in Germany : The Role of Inflation Expectations
Reckwerth, Jürgen - 2016
The observation, analysis and forecasting of inflationary trends is of particular interest to all economic agents -not just to institutions with monetary policy tasks. Almost all central banks have specified a price target as the final goal of monetary policy, for example, and some central banks...
Persistent link: https://www.econbiz.de/10012990914
Cover Image
Estimating the German Term Structure
Schich, Sebastian - 2016
This paper introduces the Deutsche Bundesbank's new procedure for estimating the term structure of interest rates. It describes the basic methodological approaches used (Nelson and Siegel (1987) and Svensson (1994)) and some fundamental concepts which are important for estimating and...
Persistent link: https://www.econbiz.de/10012990915
Cover Image
Alternative Specifications of the German Term Structure and its Information Content Regarding Inflation
Schich, Sebastian - 2016
The purpose of the present paper is twofold. First, it describes zero-coupon yield curve estimates for Germany from September 1972 to February 1996 using a variety of curve-fitting procedures. Second, these estimates are tested for their information content regarding future inflation
Persistent link: https://www.econbiz.de/10012990930
Cover Image
Sectoral Disaggregation of German M3
Read, Vicky - 2016
Das Papier teilt die Geldmenge M3 (ohne Bargeld) nach den wichtigsten Haltern (inländische Unternehmen und private Haushalte) auf und untersucht die Bestimmungsgründe dieser Unteraggregate. Eine solche disaggregierte Betrachtung erscheint insbesondere auch für ein besseres Verständnis der...
Persistent link: https://www.econbiz.de/10012990945
Cover Image
Bank-Related Loan Supply Factors During the Crisis : An Analysis Based on the German Bank Lending Survey
Blaes, Barno - 2016
This paper analyses the role of bank-related constraints in explaining the sharp slowdown in bank lending to non-financial corporations in Germany during the recent financial crisis. We use a panel approach based on a unique data set which matches the individual responses of the banks...
Persistent link: https://www.econbiz.de/10012991014
Cover Image
Home-Field Advantage or a Matter of Ambiguity Aversion? Local Bias Among German Individual Investors
Baltzer, Markus - 2016
-field advantage') of local over non-local investors. Instead, households' preference for local equity turns out to be familiarity …-driven. We conclude that individual investors' local bias is induced by ambiguity aversion in the portfolio selection process … rather than a trading strategy based on superior information about local companies …
Persistent link: https://www.econbiz.de/10012991017
Cover Image
An Information Economics Perspective on Main Bank Relationships and Firm R&D
Hoewer, Daniel - 2016
Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...
Persistent link: https://www.econbiz.de/10012991022
Cover Image
Does Lowering Dividend Tax Rates Increase Dividends Repatriated? : Evidence of Intra-Firm Cross-Border Dividend Repatriation Policies by German Multinational Enterprises
Bellak, Christian - 2016
This paper explores the impact dividend taxes exert on the dividends repatriated from foreign affiliates to their German parent company. Based on an augmented Lintner model of firms' dividend payout decisions, the paper focusses on cross-border intra-firm dividend payments of wholly-owned...
Persistent link: https://www.econbiz.de/10012991035
Cover Image
The Effects of Knowledge Management on Innovative Success : An Empirical Analysis of German Firms
Cantner, Uwe - 2016
The aim of this paper is to analyse the effects of knowledge management on the innovation success of firms in Germany. Using a matching procedure on data from the German Innovation Survey of 2003 (Mannheim Innovation Panel), we pair firms applying knowledge management with twin firms with...
Persistent link: https://www.econbiz.de/10012991037
Cover Image
The Impact of Fiscal Policy on Economic Activity Over the Business Cycle - Evidence from a Threshold VAR Analysis
Baum, Anja - 2016
Does the state of the business cycle matter for the effects of fiscal policy shocks on GDP? This study analyses quarterly German data from 1976 to 2009 in a threshold SVAR, expanding the SVAR approach by Blanchard and Perotti (2002). In a linear benchmark SVAR, the analysis finds that hiking...
Persistent link: https://www.econbiz.de/10012991046