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Investment funds are highly connected with each other, but also with the broader financial system. In this paper, we quantify potential vulnerabilities arising from funds' connectedness. While previous work exclusively focused on indirect connections (overlapping asset portfolios) between...
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We study the role of liquidity management tools (LMTs) in mitigating financial fragility in investment funds during the COVID-19 market distress. We employ a unique dataset that reports the availability of different types of LMTs in a sample of Irish-domiciled corporate bond funds. We find that...
Persistent link: https://www.econbiz.de/10015055847
Using granular data of German banks for the 2003 to 2018 period, we analyse the determinants of bank rates on retail deposits. We find that a bank's rate on sight deposits is especially low if the bank operates in rural districts, if it is not exposed to strong competition and if it provides...
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I investigate how households and firms adjust their inflation expectations when experiencing an increase in their … households increase their inflation expectations when they personally experience an increase in their electricity prices. This … result is inconsistent with full-information rational expectations but can be rationalized by households extrapolating their …
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Since 2002 the German government seeks to stimulate private retirement savings by means of special allowances and tax … scheme on households' propensities to save in a natural experiment framework. Estimation results from both the German Socio …
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