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more than 7,000 firm observations in Germany over a multi-year period. Our theoretical predictions are only supported for …
Persistent link: https://www.econbiz.de/10009270085
In contrast to earlier field studies, we survey German public savings banks on their management of capital. We find that the most important determinants of the savings banks’ target capital ratio are risk aversion, the desired credit growth and profitability. Savings banks prefer to manage the...
Persistent link: https://www.econbiz.de/10003178539
Persistent link: https://www.econbiz.de/10001911581
Climate change poses several risks to the value of financial assets and financial stability. The study conducted in this paper focuses on the German banking sector and estimates its exposure to climate risks arising from a transition to a carbon-neutral economy. Our analysis identifies the...
Persistent link: https://www.econbiz.de/10013164602
During the financial crisis numerous European governments decided to rescue domestic banks with public funds to prevent a collapse of the banking system. To internalize the public costs, bank levies have been introduced in many countries. This paper analyzes the German bank levy which was...
Persistent link: https://www.econbiz.de/10011571027
This study analyzes the exchange rate pass-through into German import prices based on disaggregated data taken on a monthly basis between 1995 and 2012. Our main contribution is twofold: firstly, we employ various time-series techniques to analyze data for different product categories, and also...
Persistent link: https://www.econbiz.de/10009771153
This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...
Persistent link: https://www.econbiz.de/10003728591
portray the labour market outcomes of second generation immigrants in Germany. Special attention is attributed to observable …
Persistent link: https://www.econbiz.de/10003740243
In contrast to West-Germany, illicit drugs were virtually absent in East-Germany until 1990. Yet, after the collapse of … the former GDR, East-Germany was expected to encounter a sharp increase in the prevalence of substance abuse. By analyzing … individual data, we find that East-Germany largely caught up with West-Germany's ever-growing prevalence of illicit drugs within …
Persistent link: https://www.econbiz.de/10003740307
We present evidence for a highly significant interaction between state dependence in individual unemployment risk and the business cycle. The disadvantage from having been unemployed in the previous period is smaller in times of relatively high unemployment and larger in times of low...
Persistent link: https://www.econbiz.de/10003745095