Diskussionspapiere
Die Diskussionspapiere mit ökonomischen Studien oder Finanz- und Bankenstudien werden vom Forschungszentrum der Bundesbank erarbeitet.
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Do what you know and leave the rest to the experts: Quantifying the gains from efficient trade Discussion paper 15/2025: Mario Larch, Philipp Meinen, Arne J. Nagengast, Yoto V. Yotov
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The impact of climate policies on financial markets: Evidence from the EU Carbon Border Adjustment Mechanism Discussion paper 14/2025: Mengjie Shi, Yupu Zhang, Christoph Meinerding
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The financial instability – Monetary policy nexus: Evidence from the FOMC minutes Discussion paper 13/2025: Dimitrios Kanelis, Lars H. Kranzmann, Pierre L. Siklos
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A KISS for central bank communication in times of high inflation Discussion paper 12/2025: Mathias Hoffmann, Emanuel Moench, Lora Pavlova, Guido Schultefrankenfeld
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Climate stress test for the German banking sector: Impact of the green transition on corporate loan portfolios Discussion paper 11/2025: Christian Gross, Laura-Chloé Kuntz, Simon Niederauer, Lena Strobel, Joachim Zwanzger
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Disentangling supply-side and demand-side effects of uncertainty shocks on U.S. financial markets: Identification using prices of gold and oil Discussion paper 10/2025: Timo Bettendorf
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Consistent commercial real estate market indicators: Methodology and an application to the German office market Discussion paper 09/2025: Thomas A. Knetsch, Martin Micheli, Phil Kafke, Mario Schimmelpfennig
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Revisions in concurrent seasonal adjustments of daily and weekly economic time series Discussion paper 08/2025: Karsten Webel
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Modeling the term structure Discussion paper 07/2025: Christoph Memmel, Lotta Heckmann-Draisbach
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Monetary policy, central bank information, and bank lending: Evidence from German banks Discussion paper 06/2025: Sophia List, Norbert Metiu
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Bank lending and firm internal capital markets following a deglobalization shock Discussion paper 05/2025: Björn Imbierowicz, Arne Nagengast, Esteban Prieto, Ursula Vogel
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Pro-cyclical emissions, real externalities, and optimal monetary policy Discussion paper 04/2025: Francesco Giovanardi, Matthias Kaldorf
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Trade dynamics under geopolitical risk Discussion paper 03/2025: Makram Khalil, David Osten, Felix Strobel
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Cap and Trade versus tradable performance standard: A comparison for Europe and China Discussion paper 02/2025: Peter Burgold, Anne Ernst, Natascha Hinterlang, Marius Jäger, Nikolai Stähler
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Stuck in a marriage: Labor market shocks, divorce and intra-household reallocation Discussion paper 01/2025: Wataru Kureishi, Hannah Paule-Paludkiewicz, Hitoshi Tsujiyama, Midori Wakabayashi
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Banks’ foreign homes Discussion paper 46/2024: Kirsten Schmidt, Lena Tonzer
974 KB, PDF
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Macroeconomic and financial effects of natural disasters Discussion paper 45/2024: Sandra Eickmeier, Josefine Quast, Yves Schüler
991 KB, PDF
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The optimal inflation target: Bridging the gap between theory and policy Discussion paper 44/2024: Klaus Adam, Henning Weber
792 KB, PDF
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The ECB’s climate activities and public trust Discussion paper 43/2024: Sandra Eickmeier, Luba Petersen
2 MB, PDF
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What moves households’ expectations during a crisis? Evidence from a randomized information experiment Discussion paper 42/2024: Norbert Metiu, Valentin Stockerl
1 MB, PDF
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Who pays the greenium and why? A decomposition Discussion paper 41/2024: Daniel Fricke, Christoph Meinerding
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Relative monetary policy and exchange rates Discussion paper 40/2024: Sören Karau
1 MB, PDF
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Benchmarking short term forecasts of regional banknote lodgements and withdrawals Discussion paper 39/2024: Benedikt Sonnleitner, Jelena Stapf, Kai Wulff
695 KB, PDF
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Constructing fan charts from the ragged edge of SPF forecasts Discussion paper 38/2024: Todd E. Clark, Gergely Ganics, Elmar Mertens
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Geopolitical risk perceptions Discussion paper 37/2024: Yevheniia Bondarenko, Vivien Lewis, Matthias Rottner, Yves Schüler
3 MB, PDF
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Financial fragility in open-ended mutual funds: the role of liquidity management tools Discussion paper 36/2024: Peter Dunne, Lorenz Emter, Falko Fecht, Raffaele Giuliana, Oana Peia
819 KB, PDF
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Risky sovereign bond holdings by commercial banks in the euro area: Do safe assets availability and differences in bank funding costs play a role? Discussion paper 35/2024: Axel Jochem, Ernest Lecomte
2 MB, PDF
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Doom loop, trilemma, and moral hazard: Which narrative of the banking union did stock market investors buy? Discussion paper 34/2024: Tobias Körner, Michael Papageorgiou
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What is the value of retail order flow? Discussion paper 33/2024: Peter Hoffmann, Stephan Jank
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Dynamics of probabilities of default Discussion paper 32/2024: Peter Bednarek, Günter Franke
1 MB, PDF
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Unemployment benefit duration and startup success Discussion paper 31/2024: Sebastian Camarero Garcia, Martin Murmann
2 MB, PDF
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The scenario-based equity price impact induced by greenhouse gas emissions Discussion paper 30/2024: Mark A. Weth, Markus Baltzer, Christoph Bertram, Jérôme Hilaire, Craig Johnston
3 MB, PDF
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Do firm credit constraints impair climate policy? Discussion paper 29/2024: Matthias Kaldorf, Mengjie Shi
865 KB, PDF
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Digital transformation and its impact on labour productivity – A multi-sector perspective Discussion paper 28/2024: Elisabeth Falck, Oke Röhe, Johannes Strobel
901 KB, PDF
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Toward a holistic approach to central bank trust Discussion paper 27/2024: Sandra Eickmeier, Luba Petersen
2 MB, PDF
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Climate Minsky moments and endogenous financial crises Discussion paper 26/2024: Matthias Kaldorf, Matthias Rottner
834 KB, PDF
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Taxation of top incomes and tax avoidance Discussion paper 25/2024: Alessandro Di Nola, Georgi Kocharkov, Almuth Scholl, Anna-Mariia Tkhir, Hoamin Wang
815 KB, PDF
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Returns to scale: New evidence from administrative firm-level data Discussion paper 24/2024: Peter McAdam, Philipp Meinen, Chris Papageorgiou, Patrick Schulte
2 MB, PDF
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Inflation distorts relative prices: Theory and evidence Discussion paper 23/2024: Klaus Adam, Andrey Alexandrov, Henning Weber
2 MB, PDF
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Sudden stop: Supply and demand shocks in the German natural gas market Discussion paper 22/2024: Jochen Güntner, Magnus Reif, Maik Wolters
2 MB, PDF
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Changes in the euro area interest rate pass-through Discussion paper 21/2024: Henrike Michaelis
3 MB, PDF
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Financial repression in general equilibrium: The case of the United States, 1948–1974 Discussion paper 20/2024: Martin Kliem, Alexander Kriwoluzky, Gernot J. Müller, Alexander Scheer
2 MB, PDF
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Listening to the noise: On price efficiency with dynamic trading Discussion paper 19/2024: Lutz G. Arnold, David Russ
790 KB, PDF
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First-order and higher-order inflation expectations: Evidence about households and firms Discussion paper 18/2024: Pascal Kieren, Christian König-Kersting, Robert Schmidt, Stefan Trautmann, Franziska Heinicke
1 MB, PDF
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Structural change and the climate risk premium during the green transition Discussion paper 17/2024: Sophie Zhou, Frederick van der Ploeg
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Zero-risk weights and capital misallocation Discussion paper 16/2024: Takuji Fueki, Patrick Hürtgen, Todd B. Walker
681 KB, PDF
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CBDC and banks: Disintermediating fast and slow Discussion paper 15/2024: Rhys Bidder, Timothy Jackson, Matthias Rottner
5 MB, PDF
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Product turnover and endogenous price flexibility in uncertain times Discussion paper 14/2024: Makram Khalil, Vivien Lewis
3 MB, PDF
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Climate change and the macroeconomics of bank capital regulation Discussion paper 13/2024: Francesco Giovanardi, Matthias Kaldorf
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Does the right to work part-time affect mothers’ labor market outcomes? Discussion paper 12/2024: Hannah Paule-Paludkiewicz