We take up the widely held view that the observed discrepancy between law on the books and law in action has prevented economic transition and investigate its role for the failure of the Bulgarian credit market. In doing so, we focus on the role of injunctive informal institutions which have...

German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank deposits playing an important role. Using a unique data set provided by the Deutsche Bundesbank for German banks, we examine whether German depositors are really that patient,...

In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account where linearization procedures in our...

We analyse how money as a store of value affects the decisions of a representative household under diversifiable and non-diversifiable risks given that the central bank successfully stabilizes the rate of inflation at a low level. Assuming exponential utility allows us to derive an explicit...

Der Überschuldungsreport erscheint regelmäßig seit 2007 und analysiert Struktur und Entwicklung der Überschuldung in Deutschland. Im Fokus stehen dabei auch dieses Jahr wieder die hauptsächlichen Auslöser einer Überschuldungssituation und deren Auswirkungen. Grundlage des Reports sind...

Seit 2008 erstellt das iff in jedem Jahr einen Überschuldungsreport. Für den diesjährigen iff-Überschuldungsreport wurden für den Zeitraum 2008-2022 insgesamt 187.968 Beratungsfälle bei 78 Beratungsstellen aus fast allen Bundesländern ausgewertet, hiervon 16.436 mit Beratungsbeginn im...

We study an Agent-based model of household-bank relationships where households borrow for the purpose of consumption. Desired consumption is driven by households disposable income as well as a social norm of consumption. If households care about their relative position in the economy (i.e. want...