This chapter focuses on institutional investors in the German financial markets. Institutional investors are specialized financial intermediaries who collect and manage funds on behalf of small investors toward specific objectives in terms of risk, return and maturity. The major types of...

Welche Folgen hat die europäische Integration für die Mitgliedstaaten? In diesem Artikel geht es mir darum zu zeigen, wie die Verflechtung mit der EU die institutionellen Handlungsoptionen nationaler Akteure verändert. Mein Ausgangspunkt ist das deutsche politische System, das aufgrund...

In a two-stage model insurance companies first decide upon risk classification and then compete in prices. I show that the observed heterogeneous behavior of similar firms is compatible with rational behavior. On the deregulated German insurance market individual application of classification...