Households regularly fail to make optimal financial decisions. But what are the underlying reasons for this? Using two conceptually distinct measures of time inconsistency based on bank account transaction data and behavioral measurement experiments, we show that the excessive use of bank...

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...