Im Zuge der gravierenden gesellschaftlichen Umbrüche der letzten Dekaden wurden (und werden) die herkömmlichen Formen der gesellschaftlichen Handlungssteuerung, -regulierung und -koordination in vielfacher Hinsicht in Frage gestellt und es bilden sich - auf der Ebene des Institutionensystems...

This paper documents and assesses the risk stemming from rising corporate indebtedness in China using a firm-level dataset of listed firms. It finds that while leverage on average is not high, there is a fat tail of highly leveraged firms accounting for a significant share of total corporate...

This paper uses a dataset on private-sector risk aversion as well as expectations of long-run growth and debt to explain trends in implied forward rates on government bonds in the G-7 countries. The results show, consistent with the literature, that a one-percent rise in the long-run projected...