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The Good, the Bad, and the Ugly : Impact of Negative Interest Rates and QE on the Profitability and Risk-Taking of 1600 German Banks
Florian, Urbschat - 2019
about the pass-through of monetary policy. On the one hand, negative rates could lead to declining bank profitability making …
Persistent link: https://www.econbiz.de/10012892229
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Profit Shifting in the EU : Evidence from Germany
Weichenrieder, Alfons J. - 2021
correlation between the home country tax rate of a parent and the net of tax profitability of its German affiliate that is … increase in the profitability of the German affiliate. On the outbound side of German FDI, the data provides some evidence that … tax rate changes in the host country lead to a stronger change in after-tax profitability for affiliates that are wholly …
Persistent link: https://www.econbiz.de/10013316976
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The Central Bank Governor and Interest Rate Setting by Committee
Ommeren, Emile van - 2019
This paper examines the role of central bank governors in monetary policy decisions taken by a committee. To carry out this analysis, we constructed a novel dataset of committee voting behaviour for six OECD countries for up to three decades. Using a range of Taylor-rule specifications, we show...
Persistent link: https://www.econbiz.de/10012861451
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Monetary Policy Interactions : The Policy Rate, Asset Purchases, and Optimal Policy with an Interest Rate Peg
Gödl-Hanisch, Isabel; Mau, Ronald; Rawls, Jonathan - 2023
We study monetary policy in a New Keynesian model with a variable credit spread and scope for central bank asset purchases to matter. A novel financial and labor market interaction generates an endogenous cost-push channel in the Phillips curve and a credit wedge in the IS curve. The “divine...
Persistent link: https://www.econbiz.de/10014357043
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Hartz IV and the Decline of German Unemployment : A Macroeconomic Evaluation
Hochmuth, Brigitte; Kohlbrecher, Britta; Merkl, Christian; … - 2021
decline in the replacement rate for long-term unemployed. We find that Hartz IV was a major driver for the decline of Germany …
Persistent link: https://www.econbiz.de/10013239563
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Early Child Care and Labor Supply of Lower-Ses Mothers : A Randomized Controlled Trial
Hermes, Henning; Krauß, Marina; Lergetporer, Philipp; … - 2023
We present experimental evidence that enabling access to universal early child care for families with lower socioeconomic status (SES) increases maternal labor supply. Our intervention provides families with customized help for child care applications, resulting in a large increase in enrollment...
Persistent link: https://www.econbiz.de/10014264150
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Causal Effects of Countercyclical Interest Rates : Evidence from the Classical Gold Standard
Mitchener, Kris James; Pina, Gonçalo - 2022
We estimate the causal impact of countercyclical interest rates on macroeconomic outcomes in open economies. To identify countercyclical interest rates, we construct a new database of short-term interest rates, principal exports, and international commodity prices for 40 economies from 1870 to...
Persistent link: https://www.econbiz.de/10013291318
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Non-Linearities and Persistence in US Long-Run Interest Rates
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; … - 2021
-August 2020, the other from the ECB reporting average monthly values over the period January 1900-August 2020. The estimation …
Persistent link: https://www.econbiz.de/10013314848
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The Hidden Heterogeneity of Inflation and Interest Rate Expectations : The Role of Preferences
Dräger, Lena; Lamla, Michael J.; Pfajfar, Damjan - 2022
Using a new consumer survey dataset, we show that macroeconomic preferences affect expectations and economic decisions through different channels. While household expectations are on average inversely related to preferences, households with the same inflation or interest rate expectations can...
Persistent link: https://www.econbiz.de/10013293855
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Bank Consolidation, Interest Rates, and Risk : A Post-Merger Analysis Based on Loan-Level Data from the Corporate Sector
Juranek, Steffen; Nilsen, Øivind Anti; Ulsaker, Simen A. - 2021
In this paper we analyse the bank merger between DnB and Gjensidige Bank in 2003, ranked by market share as number one and number three in the Norwegian bank market. Focusing on loans to firms, our difference-in-differences analysis shows no increase of concentration of new loans. The...
Persistent link: https://www.econbiz.de/10013310766