Retained Earnings, Foreign Portfolio Ownership, and the German Current Account: A Firm-Level Approach Goldbach S., Harms P., Jochem A., Nitsch V., Weichenrieder A.J.

German Labor Market and Fiscal Reforms 1999 to 2008: Can They Be Blamed for Intra-Euro Area Imbalances? Gadatsch N., Stähler N., Weigert B.

Too Much of a Good Thing? Short-term Debt as a Sorting Device König P., Pothier D.

Interest rate shocks, competition and bank liquidity creation Kick T.

On the Credibility of the Euro/Swiss Franc Floor: A Financial Market Perspective Hertrich M., Zimmermann H.

The Risk-Taking Channel of Monetary Policy Transmission in the Euro Area Neuenkirch M., Nöckel M.

Time-variation in the Effects of Push and Pull Factors on Portfolio Flows: Evidence from a Bayesian Dynamic Factor Model Bettendorf T., Karadimitropoulou A.

International Financial Markets' Influence on the Welfare Performance of Alternative Exchange Rate Regimes Hoffmann M.

Earnings baths by CEOs during turnovers: Empirical evidence from German savings banks Bornemann S., Kick T., Pfingsten A., Schertler A.

Uncertainty Shocks and Systemic-Risk Indicators Hristov N., Roth M.