The reuse of collateral can support the efficient allocation of assets in the financial system. Exploiting a novel dataset, we quantify banks' collateral reuse at the security level. We show that banks substantially increase their reuse of collateral in response to scarcity induced by central...

We study price dispersion and venue choice in the interdealer market for German sovereign bonds, where an exchange and over-the-counter segments coexist. We show that 85% of OTC traded prices are favorable with respect to exchange quotes, indicating the prevalence of an OTC discount. This...

1. Introduction -- 2. Measuring inequality in the distribution of wealth -- 3. Empirical studies of the distribution of wealth -- 4. Determinants of the distribution of wealth -- 5. Determinants of changes in the distribution of wealth -- 6. Ranking alternative distributions of wealth -- 7. How...

We document a sizable OTC discount in the interdealer market for German sovereign bonds where exchange and over-the-counter trading coexist: the vast majority of OTC prices are favorable with respect to exchange quotes. This is a challenge for theories of OTC markets centered around search...

This book is about the distribution of wealth among people, described by statisticians as the size distribution of wealth, and the way that this distribution has changed over time. It provides answers to a host of important questions including, why is the distribution of wealth important and how...

Immer mehr Ältere werden zukünftig von immer weniger informell und professionell Pflegenden versorgt werden müssen. In anderen Branchen gehören intelligente technische Systeme längst zum Alltag. Im Bereich der (stationären) Pflege steht diese Entwicklung noch am Anfang.