Mitarbeiter

Dr. Ulf von Kalckreuth

• Deutsche Bundesbank
• Central Office, Economics Department
• Wilhelm Epstein Str. 14
• D-60431 Frankfurt am Main
•  
• +49 69 9566-2217
• Ulf von Kalckreuth

Research Interests

• Ongoing research implies theoretical and empirical work on household and firm behavior, specifically issues related to corporate finance, household finance, investment, innovation, the distribution of income and wealth, as well as studies of the monetary transmission process.

Selected Publications and Working Papers

1. Refereed journals

• von Fürstenberg, G. and U. von Kalckreuth, Dependence on external finance by manufacturing sector: Examining the measure and its properties, Economie internationale. Vol. 111(1), 2007, 55-80.
• von Kalckreuth, U. and G. Ziebarth, Globalisation, Accumulation and Inequality – the Case of Germany. Zeitschrift für Wirtschaftspolitik, Vol. 56(29), 2007, 231-251.
• von Kalckreuth, U., Financial constraints and capacity adjustment - Evidence from a large panel of survey data. Economica, Vol. 73, issue 292, 2006, 691-724.
• von Fürstenberg, G. and U. von Kalckreuth, Dependence on external finance – an inherent industry characteristic? Open Economies Review, Vol. 17(4), 2006, 541-559.
• von Kalckreuth, U. and M. Krtscha, Stable solutions to homogeneous difference-differential equations with constant coefficients: Analytical instruments and an application to monetary policy. Applications of Mathematics, Vol. 49(4), 2004, 373-386.
• von Kalckreuth, U., Exploring the role of uncertainty for corporate investment decisions in Germany. Schweizerische Zeitschrift für Volkswirtschaft und Statistik (Swiss Journal of Economics), Vol. 139(2), 2003, 173-206.
• Chatelain, J.-B., I. Hernando, A. Generale, U. von Kalckreuth and P. Vermeulen, New findings on firm investment and monetary transmission in the Euro area. Oxford Review of Economic Policy, Vol. 19(1), 2003, 1-11.
• von Kalckreuth, U. and J. Schroeder, Monetary transmission in the new economy: Service life of capital, transmission channels and the speed of adjustment. Jahrbuch für Wirtschaftswissenschaften (Review of Economics), 53, December 2002, 125-141.

2. Not refereed journals

• Kalckreuth, U., Der finanzielle Akzelerator in der monetären Transmission (The financial accelerator in monetary transmission). Wirtschaftsdienst, Vol. 82 (9), September 2002, 555-560.

3. Books, contributions to books and conference volumes

• von Kalckreuth, U., Financing Constraints and the Adjustment Dynamics of Enterprises. Habilitationsschrift zur Erlangung der Lehrbefugnis an der Universität Mannheim, May 2008.
• von Kalckreuth, U. und G. Ziebarth, 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.
• von Kalckreuth, U., 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, April 2005, 64-81.
• Chatelain, J.-B., I. Hernando, A. Generale, P. Vermeulen and U. von Kalckreuth, 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, 2003, 133-161.
• von Kalckreuth, U., Investment and monetary transmission in Germany: A microeconometric approach. In: I. Angeloni, A. Kashyap, B. Mojon (eds.), Monetary Policy Transmission in the Euro Area, Cambridge, Cambridge University Press, 2003, 173-186.
• von Kalckreuth, U., 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 Decisions: Theory and Empirical Methodology. Cheltenham, Edward Elgar, 2003, 245-252.
• von Kalckreuth, U., Wachstum und soziale Integration in dualistischen Volkswirtschaften. (Growth and Social Integration in Dualistic Economies). Berlin; Bern; New York; Paris; Wien: Peter Lang, 1998, ISBN 3-631-34323-X.

4. Selected working papers

• von Kalckreuth, U., Financing constraints, firm level adjustment of capital and aggregate implications. Deutsche Bundesbank Discussion Paper Series 1, No. 11/2008.
• von Kalckreuth, U., Panel estimation of state dependent adjustment when the target is unobserved. Deutsche Bundesbank Discussion Paper Series 1, No. 09/2008.
• von Kalckreuth, U. and G. B. Wolff, Testing the contemporary fiscal policy discretion with real time data.anel estimation of state dependent adjustment when the target is unobserved. Deutsche Bundesbank Discussion Paper Series 1, No. 24/2007.
• von Kalckreuth, U., A "wreckers theory" of financial distress. Deutsche Bundesbank Discussion Paper Series 1, No 40/2005.
• von Kalckreuth, U.and E. Murphy, Financial constraints and capacity adjustment in the United Kingdom: Are small firms really different? Evidence from a large panel of survey data. Bank of England Working Paper 260 and Deutsche Bundesbank Discussion Paper, No. 01/05.
• von Kalckreuth, U., Financial constraints for investors and the speed of adaptation: Are innovators special? Deutsche Bundesbank Discussion Paper Series 1, No. 20/04.
• Breitung, J., R. S. Chirinko and U. von Kalckreuth, A vectorautoregressive investment model (VIM) and monetary policy transmission: Panel evidence from German firms. Deutsche Bundesbank Discussion Paper Series 1, No. 06/03.
• Chirinko, R.S. and U. von Kalckreuth, On the German monetary transmission mechanism: Interest rate and credit channels for investment spending. CESifo Working Paper No. 838, January 2003.
• Chirinko, R.S. and U. von Kalckreuth, Further evidence on the relationship between firm investment and financial status, Deutsche Bundesbank Discussion Paper Series 1, No. 28/02.