This paper examines the impact of bank heterogeneity on the assessment of systemic risk in the context of the German banking sector. Precisely, it is questioned whether currently employed systemic risk indicators are able to account for banks' heterogeneity and to signal systemic risk reliably...

Many economist wonder how and when national economies will recover after the fall of quarantine for COVID-19. Based on the article we can say that different types of economies (The types are described below in the article) will recover differently. The fastest will recover small, predominantly...

We estimate the effects of a mandate allocating a third of corporate board seats to workers (shared governance). We study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked it in for the older cohorts. In sharp contrast to the...

In a New Keynesian DSGE model with non-Ricardian consumers, we show that automatic stabilization according to a countercyclical spending rule following the idea of the debt brake is well suited both to steer the economy and in terms of welfare. In particular, the adjustment account set up to...

Germany benefits from an especially lively philanthropic sector, with over twenty three thousand active charitable foundations. An empirical assessment of the portfolio preferences of German foundations yields fundamental intragroup differences in their approach to asset allocation. We build on...

There is believed that German and French economies set the tone for other EU economies. It is why we use data from German speaking countries of EU and France for illustration of our findings in context of other EU countries like Czech Republic or Poland. Effectiveness of liquid assets...

Effectiveness of working capital investments is only one from possible explanations of working capital levels in firms. Too small working capital leads some firms to negative changes in their sale levels. Destruction of cash revenues creation possibilities is dangerous for them and is hard to...

We estimate the effects of a mandate allocating a third of corporate board seats to workers (shared governance). We study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked it in for the older cohorts. In sharp contrast to the...

This paper examines the impact of bank heterogeneity on the assessment of systemic risk in the context of the German banking sector. Precisely, it is questioned whether currently employed systemic risk indicators are able to account for banks' heterogeneity and to signal systemic risk reliably...