This dissertation consists of six self-contained chapters that are related to the behavior of firms and politicians in a broader sense. After an introduction to the topic, the first part of the dissertation elaborates on how institutional and political framework conditions influence the behavior...

Die Dissertation besteht aus vier eigenständigen empirischen Aufsätzen. Das erste Kapitel untersucht auf der Grundlage von Gewerbesteuererhöhungen auf Gemeindeebene in Deutschland, inwieweit Unternehmen ihre Investitionspläne an höhere Steuersätze anpassen. Die weiteren Kapitel befassen...

With the Paris Agreement of 2016, 189 nations signed a legally binding document to keep global warming below 2 C, and to pursue efforts to limit the temperature increase to 1.5 C. It was recognized that this would reduce climate change impacts substantially. All signatories submitted "Intended...

The payoff of many credit derivatives depends on the level of credit spreads. In particular, the payoff of credit derivatives with a leverage component is sensitive to jumps in the underlying credit spreads. In the framework of first passage time models we extend the model introduced in...

This doctoral dissertation analyses the transmission of monetary policy. It applies a variety of empirical methods to study how conventional and unconventional monetary policy measures transmit to different macroeconomic and financial variables. The first article analyses the effect of monetary...