Lethal lapses – how a positive interest rate shock might stress German life insurers Mark Feodoria, Till Förstemann

The pattern of home ownership across cohorts and its impact on the net wealth distribution: empirical evidence from Germany and the US Arthur Alik-Lagrange, Tobias Schmidt

The interest rate pass-through in the euro area during the sovereign debt crisis Julia von Borstel, Sandra Eickmeier, Leo Krippner

Do exposures to sagging real estate, subprime or conduits abroad lead to contraction and flight to quality in bank lending at home? Steven Ongena, Günseli Tümer-Alkan, Natalja von Westernhagen

Securities trading by banks and credit supply: micro-evidence Puriya Abbassi, Rajkamal Iyer, José-Luis Peydró, Francesc R. Tous

Imperfect information about financial frictions and consequences for the business cycle Josef Hollmayr, Michael Kühl

Fiscal austerity, unemployment and family firms Zsuzsa Munkacsi

German and the rest of euro area fiscal policy during the crisis Niklas Gadatsch, Klemens Hauzenberger, Nikolai Stähler

Financial frictions and global spillovers Norbert Metiu, Björn Hilberg, Michael Grill

Centrality-based capital allocations Adrian Alter, Ben R. Craig, Peter Raupach