In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...

The writing of this article predates by several months the failure of Silicon Valley Bank and the takeover of Credit Suisse which occurred in March 2023. It does not represent the views of the European Central Bank (ECB) and should not be construed as linked to or an advice for the winding down...

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...

Various attempts have been made to reveal the impact of corona virus on the global economy through interdisciplinary approaches. The ultimate logic behind the strategies adopted by leaders of various economies regarding the first level policy response of lockdown and the and the end level...

Conducting a building thermal efficiency retrofit (or further thermal retrofit) is a long and relatively complex decision-making process involving building owners, managers, residents/tenants, and construction industry professionals. A variety of information instruments exists to support...

Eine energetische Gebäudesanierung (Sanierung zur Erhöhung der Energieeffizienz) erfordert einen langen, relativ komplexen Entscheidungsprozess für Gebäudeeigentümer, -verwalter, Mieter sowie Bauhandwerker. Es gibt verschiedene Möglichkeiten diese Akteure in Ihren Entscheidungen durch...

In der vorliegenden Studie wurde der Frage nachgegangen, welche öffentlichen Unterstützungsleistungen für Nachfolgen in Deutschland angeboten werden und inwiefern eine staatliche Förderung notwendig ist. Neben einer Bestandsaufnahme des Förderangebots wurden die Probleme des...

We study the role of whistleblowing in the following inspection game. Two agents who compete for a prize can either behave legally or illegally. After the competition, a controller investigates the agents' behavior. This inspection game has a unique Bayesian equilibrium in mixed strategies. We...

This paper contributes to the ongoing debate on fiscal consolidation and the questionable effectiveness of the Stability and Growth Pact by addressing the problem of economic governance in the EMU with a game-theoretic principal-agent approach. Following the theory of delegation, we develop a...

Infolge der Finanzkrise hatten britische Unternehmen deutlich häufiger Probleme Kredite zu erhalten als deutsche. Die Studie zeigt, dass ein Grund hierfür im deutschen Regionalbankensystem und seinen spezifischen Eigenschaften liegen könnte. Durch die Nähe zum Unternehmer besteht die...