Evidence on the effects of negative interest rates on bank lending is inconclusive so far. By applying a difference …-in-difference estimation using granular loan level data with a large coverage from Austria, I show, contrary to some previous findings, that … the introduction of a negative deposit facility rate by the European Central Bank led to an increased credit supply by …

Austria, Japan and the USA. Further I deal with the concept of stock market efficiency, the question whether or not …

mechanisms, markup cyclicality or simply because they are forward-looking. Empirical results for Austria show that retail rate … behind this finding. -- leading indicator ; business cycle ; shock propagation ; financial accelerator ; bank markup …

prices, complicating economic calculation and entrepreneurial planning, and contributes to boom-bust cycles. The Bank of …

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …

correlation of incentive pay with both the level and volatility of bank trading income -particularly for the pre-crisis period … markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking. Moreover, pre …

addition to general sluggishness, bank deposit rates' reactions are clearly asymmetric: flexible when market rates are …

returns or risk, or both. This is in conformity with the theory of the bank which postulates superiority of large banks …