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Bargaining power and outside options in the interbank lending market

Abbassi, Puriya; Bräuning, Falk; Schulze, Niels - 2017

We study the role of bargaining power and outside options for the pricing of over-the-counter interbank loans using a bilateral Nash bargaining model and test the model predictions with detailed transaction-level data from the euro-area interbank market. We find that lender banks with greater...

Persistent link: https://www.econbiz.de/10011740274

Loan pricing in internal capital markets and the impact of the two-tier system : finance groups in Germany

Busch, Ulrike; Khayal, Nuri; Klein, Melanie - 2022

This paper sheds light on the functioning of internal capital markets by analysing money market transactions within the German cooperatives and savings banks finance groups. Using a unique dataset, the money market statistical reporting, this is the first paper to explicitly analyze the...

Persistent link: https://www.econbiz.de/10013336396

Solving RE models with discontinuous policy rules : an application to minimum wage setting in Germany

Bursian, Dirk - 2016

The legal regulations require the minimum wage in Germany to be adjusted biennially which gives rise to a policy … minimum wage setting in Germany, the paper illustrates how such models can be solved using the method of undetermined …

Persistent link: https://www.econbiz.de/10011538716

Robust inference intime-varying structural VAR models : the DC-Cholesky multivariate stochasticvolatility model

Hartwig, Benny - 2020

This paper investigates how the ordering of variables affects properties of the time-varying covariance matrix in the Cholesky multivariate stochastic volatility model.It establishes that systematically different dynamic restrictions are imposed whenthe ratio of volatilities is time-varying....

Persistent link: https://www.econbiz.de/10012250452

Crisis? : what Crisis? : currency vs. banking in the financial crisis of 1931

Ritschl, Albrecht; Salferaz, Samad - 2010

Persistent link: https://www.econbiz.de/10003964365

Scarcity effects of QE : a transaction-level analysis in the Bund market

Schlepper, Kathi; Riordan, Ryan; Hofer, Heiko; … - 2017

This paper investigates the scarcity effects of quantitative easing (QE) policies, drawing on intra-day transaction-level data for German government bonds, purchased under the Public Sector Purchase Program (PSPP) of the ECB/Eurosystem. This paper is the first to match high-frequency QE purchase...

Persistent link: https://www.econbiz.de/10011632212

A novel housing price misalignment indicator for Germany

Hertrich, Markus - 2019

From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except …

Persistent link: https://www.econbiz.de/10012098990

Quantitative easing, portfolio rebalancing and credit growth : micro evidence from Germany

Tischer, Johannes - 2018

This paper sheds light on the effect of quantitative easing (QE) on bank lending. Using data on German banks for 2014-2016, I show that QE encourages banks to rebalance from securities to loans. For identification, I use bond redemptions as exogenous variation in banks' need to rebalance their...

Persistent link: https://www.econbiz.de/10011874231

Rebalancing the euro area : is wage adjustment in Germany the answer?

Hoffmann, Mathias; Kliem, Martin; Krause, Michael; … - 2020

We assess to what extent wage inflation policies in Germany could contribute to an economic rebalancing in the euro … and output in Germany and the rest of the euro area. The duration of constant interest rates and expectations about the … consists of Germany, the rest of the euro area, and the rest of the world. …

Persistent link: https://www.econbiz.de/10012184056

Global monetary and financial spillovers : evidence from a new measure of Bundesbank policy shocks

Cloyne, James S.; Hürtgen, Patrick; Taylor, Alan M. - 2022

monetary contraction. But given Germany's central role in the European Monetary System (EMS), we can also shed light on debates …

Persistent link: https://www.econbiz.de/10013361910

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