Discussion Papers
The Discussion Papers with economic studies or financial and banking studies are elaborated by the research centre of the Deutsche Bundesbank.
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Staggered difference-in-differences in gravity settings: Revisiting the effects of trade agreements Arne J. Nagengast, Yoto V. Yotov
867 KB, PDF
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Effects of mergers on network models of the financial system Daniel Nevermann, Lotta Heckmann-Draisbach
998 KB, PDF
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Energy prices and inflation expectations: Evidence from households and firms Nils Wehrhöfer
667 KB, PDF
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Forceful or persistent: How the ECB’s new inflation target households’ inflation expectations Mathias Hoffmann, Emanuel Moench, Lora Pavlova, Guido Schultefrankenfeld
701 KB, PDF
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Effects of bank capital requirements on lending by banks and non-bank financial institutions Peter Bednarek, Olga Briukhova, Steven Ongena, Natalja von Westernhagen
2 MB, PDF
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Precision-based sampling for state space models that have no measurement error Elmar Mertens
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Towards seasonal adjustment of infra-monthly time series with JDemetra+ Karsten Webel, Anna Smyk
5 MB, PDF
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Capital reallocation under climate policy uncertainty Makram Khalil, Felix Strobel
1 MB, PDF
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Learning monetary policy strategies at the effective lower bound with sudden surprises Spencer Krane, Leonardo Melosi, Matthias Rottner
903 KB, PDF
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Effects of the ECB’s communication on government bond spreads Sebastian Camarero Garcia, Frederik Neugebauer, Jan Russnak, Lilli Zimmermann
1 MB, PDF
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Forecasting banknote circulation during the COVID-19 pandemic using structural time series models Nikolaus Bartzsch, Marco Brandi, Raymond de Pastor, Lucas Devigne, Gianluca Maddaloni, Diana Posada Restrepo, Gabriele Sene
14 MB, PDF
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The state-dependent impact of changes in bank capital requirements Jan Hannes Lang, Dominik Menno
2 MB, PDF
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Monetary policy rules under bounded rationality Michael Dobrew, Rafael Gerke, Daniel Kienzler, Alexander Schwemmer
3 MB, PDF
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The pass-through from inflation perceptions to inflation expectations Stefanie J. Huber, Daria Minina, Tobias Schmidt
4 MB, PDF
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Corporate taxes, productivity, and business dynamism Andrea Colciago, Vivien Lewis, Branka Matyska
2 MB, PDF
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Shadow-rate VARs Andrea Carriero, Todd E. Clark, Massimiliano Marcellino, Elmar Mertens
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Long-term deposit funding and demand for central bank funds: Evidence from targeted longer-term refinancing operations Adina-Elena Fudulache, Martin R. Goetz
2 MB, PDF
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Banks’ net interest margin and changes in the term structure Christoph Memmel, Lotta Heckmann-Draisbach
676 KB, PDF
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On the empirical relevance of the exchange rate as a shock absorber at the zero lower bound David Finck, Mathias Hoffmann, Patrick Hürtgen
2 MB, PDF
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Banks of a feather: The informational advantage of being alike Peter Bednarek, Valeriya Dinger, Alison Schultz, Natalja von Westernhagen
1 MB, PDF
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Pricing the Bund term structure with linear regressions – without an observable short rate Christian Speck
2 MB, PDF
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The rollout of internal credit risk models: Implications for the novel partial-use philosophy Carina Schlam, Corinna Woyand
956 KB, PDF
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Asset allocation with recursive parameter updating and macroeconomic regime identifiers Milad Goodarzi, Christoph Meinerding
3 MB, PDF
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Time-varying stock return correlation, news shocks, and business cycles Norbert Metiu, Esteban Prieto
1 MB, PDF
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Inflation expectations in the wake of the war in Ukraine Geghetsik Afunts, Misina Cato, Tobias Schmidt
852 KB, PDF
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Households’ expectations and regional COVID-19 dynamics Misina Cato, Tobias Schmidt
998 KB, PDF
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Make-up strategies with incomplete markets and bounded rationality Michael Dobrew, Rafael Gerke, Sebastian Giesen, Joost Röttger
746 KB, PDF
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The preferential treatment of green bonds Francesco Giovanardi, Matthias Kaldorf, Lucas Radke, Florian Wicknig
704 KB, PDF
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Score-based calibration testing for multivariate forecast distributions Malte Knüppel, Fabian Krüger, Marc-Oliver Pohle
1 MB, PDF
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Estimating the impact of quality adjustment on consumer price inflation Jan-Oliver Menz, Elisabeth Wieland, Jens Mehrhoff
1 MB, PDF
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Real interest rates, bank borrowing, and fragility Toni Ahnert, Kartik Anand, Philipp Johann König
593 KB, PDF
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On the macroeconomic effects of reinvestments in asset purchase programmes Rafael Gerke, Daniel Kienzler, Alexander Scheer
1 MB, PDF
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What drives inflation? Disentangling demand and supply factors Sandra Eickmeier, Boris Hofmann
3 MB, PDF
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A nonlinear generalization of the Country-Product-Dummy method Ludwig von Auer, Sebastian Weinand
2 MB, PDF
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The global financial cycle and macroeconomic tail risks Johannes Beutel, Lorenz Emter, Norbert Metiu, Esteban Prieto, Yves Schüler
1 MB, PDF
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Who creates and who bears flow externalities in mutual funds? Daniel Fricke, Stephan Jank, Hannes Wilke
2 MB, PDF
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Determinants of TARGET2 transactions of European banks based on micro-data Constantin Drott, Stefan Goldbach, Axel Jochem
2 MB, PDF
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The Eurosystem’s asset purchase programmes, securities lending and Bund specialness Markus Baltzer, Kathi Schlepper, Christian Speck
751 KB, PDF
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The effects of sanctions on Russian banks in TARGET2 transactions data Constantin Drott, Stefan Goldbach, Volker Nitsch
1 MB, PDF
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The impact of natural disasters on banks’ impairment flow – Evidence from Germany Iliriana Shala, Benno Schumacher
1 MB, PDF
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Robust real-time estimates of the German output gap based on a multivariate trend-cycle decomposition Tino Berger, Christian Ochsner
2 MB, PDF
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Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks James S. Cloyne, Patrick M. Hürtgen, Alan M. Taylor
2 MB, PDF
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