This paper presents a framework for estimating losses in the residential real estate mortgage portfolios of German banks. We develop an EL model where LGD estimates are based on current collateral values and PD dynamics are estimated using a structural PVAR approach. We confirm empirically that...

This study analyses the impact of a high-profile crime event on perceived public safety. At the 2015 New Year's Eve celebrations in Cologne (NYE), Germany, refugees allegedly committed over a thousand crimes, ranging from theft to sexual assault. The widespread media coverage of these incidents...