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Dr Ulf von Kalckreuth

Research Interests

  • Econometric work with micro data, specifically issues related to household finance, corporate finance, firm investment and financing constraints, survey statistics
  • The distribution of income and wealth
  • Topics in International Economics, Macro and Finance

Refereed Publications

  • Kalckreuth, U. von, T. Schmidt and H. Stix, Using Cash to Monitor Liquidity – Implications for Payments, Currency Demand and Withdrawal Behavior, Journal of Money, Credit and Banking, Vol. 46(8), pp. 1753-1786.
  • Kalckreuth, U. von, T. Schmidt and H. Stix, Choosing and using payment instruments: evidence from German microdata, Empirical Economics, DOI 10.1007/s00181-013-0708-3, forthcoming.
  • Kalckreuth, U. von and G. Wolff (2011), Identifying discretionary fiscal policy with real-time data, Journal of Money, Credit and Banking, Vol. 43(6), 1271-1285.
  • Kalckreuth, U. von (2011), Panel estimation of state dependent adjustment when the target is unobserved, Empirical Economics, Vol. 40(1), 205-235.
  • Fürstenberg, G. von and U. von Kalckreuth (2007), Dependence on external finance by manufacturing sector: Examining the measure and its properties, Economie internationale, Vol. 111(1), 55-80.
  • Kalckreuth, U. von and G. Ziebarth (2007), Globalisation, Accumulation and Inequality – the Case of Germany, Zeitschrift für Wirtschaftspolitik, Vol. 56(29), 231-251.
  • Kalckreuth, U. von (2006), Financial constraints and capacity adjustment - Evidence from a large panel of survey data, Economica, Vol. 73, issue 292, 691-724.
  • Fürstenberg, G. von and U. von Kalckreuth (2006), Dependence on external finance – an inherent industry characteristic?, Open Economies Review, Vol. 17(4), 541-559.
  • Kalckreuth, U. von and M. Krtscha (2004), Stable solutions to homogeneous difference-differential equations with constant coefficients: Analytical instruments and an application to monetary policy. Applications of Mathematics, Vol. 49(4), 373-386.
  • Kalckreuth, U. von (2003), Exploring the role of uncertainty for corpora-te investment decisions in Germany, Schweizerische Zeitschrift für Volkswirtschaft und Statistik (Swiss Journal of Economics), Vol. 139(2), 173-206.
  • Chatelain, J.-B., I. Hernando, A. Generale, U. von Kalckreuth and P. Vermeulen (2003), New findings on firm investment and monetary transmission in the Euro area, Oxford Review of Economic Policy, Vol. 19(1), 1-11.
  • Kalckreuth, U. von and J. Schroeder (2002), Monetary transmission in the new economy: Service life of capital, transmission channels and the speed of adjustment. Jahrbuch für Wirtschaftswissenschaften (Review of Economics), 53, 125-141.

Other Working Papers and Publications

  • Kalckreuth, U. von (2014), A Research Data and Service Centre (RDSC) at the Deutsche Bundesbank - a draft concept. IFC-Bulletin No 37, Irving-Fisher Comittee on Central Bank Statistics, January.
  • Kalckreuth, U. von (2008), Financing Constraints and the Adjustment Dynamics of Enterprises. Habilitationsschrift zur Erlangung der Lehrbefugnis an der Universität Mannheim, Mai 2008
  • Kalckreuth, U. von (2005), Financial constraints and real activity. A non-structural approach using UK survey data, BIS Papers No. 20, „Investigating the Relationship between the Financial and the Real Economy“, Bank for International Settlements, 64-81.
  • Kalckreuth, U. von and G. Ziebarth (2005), Wachstum tut not! In: Gerhardt Rübel and Makram El-Shagi (ed.), Aspekte der Internationalen Ökonomie. Festschrift für Jürgen Schröder zum 65. Geburtstag. Deutscher Universitätsverlag, 2005.
  • J.-B. Chatelain, I. Hernando, A. Generale, P. Vermeulen, and U. von Kalckreuth (2003), Firm investment and monetary policy transmission in the euro area. In: I. Angeloni, A. Kashyap, B. Mojon (eds.), Monetary Policy Transmission in the Euro Area, Cambridge, Cambridge University Press, 133-161.
  • Kalckreuth, U. von (2003), Investment and monetary transmission in Germany: A microeconometric approach. In: I. Angeloni, A. Kashyap, B. Mojon (eds.), Monetary Policy Transmission in the Euro Area, Cam¬bridge, Cambridge University Press, 173-186.
  • Kalckreuth, U. von (2003), Discussion of ‘The impact of uncertainty on investment plans’, by P. Butzen, C. Fuss and P. Vermeulen. In: J. Smets, C. Fuss, P. Butzen (eds.), Firms' Investment and Finance Deci¬sions: Theory and Empirical Methodology. Cheltenham, Edward Elgar, 245-252.
  • Chirinko, R.S. and U. von Kalckreuth (2003), On the German monetary transmission mechanism: Interest rate and credit channels for investment spending. CESifo Working Paper No. 838
  • Kalckreuth, U. von (2002), Der finanzielle Akzelerator in der monetären Transmission (The financial accelerator in monetary transmission). Wirtschaftsdienst, Vol. 82 (9), 555-560.
  • Kalckreuth, U. von (1998), Wachstum und soziale Integration in dualistischen Volkswirtschaften. (Growth and Social Integration in Dualistic Economies). Berlin; Bern; New York; Paris; Wien: Peter Lang, ISBN 3-631-34323-X

Discussion Papers

Additional information


Dr Ulf von Kalckreuth

Dr Ulf von Kalckreuth

+49 69 9566-6010


Deutsche Bundesbank

Central Office, Directorate General Statistics

Wilhelm-Epstein-Straße 14
60431 Frankfurt am Main