Discussion papers
The discussion papers with economic studies or financial and banking studies are elaborated by the research center of the Deutsche Bundesbank.
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Systematic Risk in Recovery Rates - An empirical Analysis of US Corporate Credit Exposures Discussion paper 02/2004: Klaus Düllmann, Monika Trapp
324 KB, PDF
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Who do you trust while bubbles grow and blow? A comparative analysis of the explanatory power of accounting and patent information for the market values of German firms Discussion paper 17/2004: Fred Ramb, Markus Reitzig
243 KB, PDF
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On the decision to go public: Evidence from privately-held firms Discussion paper 16/2004: Ekkehart Boehmer, Alexander Ljungqvist
273 KB, PDF
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Welfare Implications of the Design of a Currency Union in Case of Member Countries of Different Sizes and Output Persistence Discussion paper 15/2004: Rainer Frey
769 KB, PDF
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Real-Time Estimation of the Output Gap in Japan and its Usefulness for Inflation Forecasting and Policymaking Discussion paper 14/2004: Koichiro Kamada
362 KB, PDF
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Consumption Smoothing Across States and Time: International Insurance vs. Foreign Loans Discussion paper 13/2004: George M.von Furstenberg
331 KB, PDF
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Business Cycle Transmission from the US to Germany - a Structural Factor Approach Discussion paper 12/2004: Sandra Eickmeier
581 KB, PDF
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Real-time data business cycle analysis in Germany Discussion paper 11/2004: Jörg Döpke
360 KB, PDF
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Evaluating the German inventory cycle using data from the IFO business survey Discussion paper 10/2004: Thomas A. Knetsch
465 KB, PDF
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The inventory cycle of the German economy Discussion paper 09/2004: Thomas A. Knetsch
328 KB, PDF
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A rental-equivalence index for owner-occupied housing in West-Germany 1985 to 1998 Discussion paper 08/2004: Claudia Kurz, Johannes Hoffmann
211 KB, PDF
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FDI versus cross-border financial services: The globalisation of German banks Discussion paper 05/2004: Claudia M. Buch, Alexander Lipponer
632 KB, PDF
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Clustering or competition? The foreign investment behaviour of German banks Discussion paper 06/2004: Claudia M. Buch, Alexander Lipponer
325 KB, PDF
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Forecasting Credit Portfolio Risk Discussion paper 01/2004: Alfred Hamerle, Thilo Liebig, Harald Scheule
287 KB, PDF
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Policy Instrument Choice and Non-Coordinated Monetary Policy in Interdependent Economies Discussion paper 03/2004: Giovanni Lombardo, Alan Sutherland
359 KB, PDF
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Inflation Targeting Rules and Welfare in an Asymmetric Currency Area Discussion paper 04/2004: Giovanni Lombardo
411 KB, PDF
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Foreign Bank Entry into Emerging Economies: An Empirical Assessment of the Determinants and Risks Predicted on German FDI Data Discussion paper 01/2004: Torsten Wezel
408 KB, PDF
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Does Co-Financing by Multilateral Development Banks Increase "Risky" Direct Investment in Emerging Markets? - Evidence for German Banking FDI Discussion paper 02/2004: Torsten Wezel
377 KB, PDF
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How wacky is the DAX? The changing structure of German stock market volatility Discussion paper 18/2003: Jelena Stapf, Thomas Werner
581 KB, PDF
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The Forecasting Performance of German Stock Option Densities Discussion paper 17/2003: Ben R. Craig, Ernst Glatzer, Joachim G. Keller, Martin Scheicher
570 KB, PDF
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Credit Risk Factor Modeling and the Basel II IRB Approach Discussion paper 02/2003: Alfred Hamerle, Thilo Liebig, Daniel Rösch
367 KB, PDF
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Exact tests and confidence sets for the tail coefficient of α-stable distributions Discussion paper 16/2003: Jean-Marie Dufour, Jeong-Ryeol Kurz-Kim
430 KB, PDF
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Measuring the Discriminative Power of Rating Systems Discussion paper 01/2003: Bernd Engelmann, Evelyn Hayden, Dirk Tasche
231 KB, PDF
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Money in a New-Keynesian model estimated with german data Discussion paper 15/2003: Jana Kremer, Giovanni Lombardo, Thomas Werner
336 KB, PDF
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Did the Bundesbank React to Stock Price Movements? Discussion paper 14/2003: Martin T.Bohl (European University Viadrina), Pierre L.Siklos (Wilfrid Laurier University Waterloo), Thomas Werner (Deutsche Bundesbank)
482 KB, PDF
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Bidder Behavior in Repo Auctions without Minimum Bid Rate: Evidence from the Bundesbank Discussion paper 13/2003: Tobias Linzert, Dieter Nautz (Goethe-University Frankfurt), Jörg Breitung (University of Bonn)
211 KB, PDF
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Active monetary policy, passive fiscal policy and the value of public debt: Some further monetarist arithmetic Discussion paper 12/2003: Leopold von Thadden
470 KB, PDF
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On the Stability of Different Financial Systems Discussion paper 10/2003: Falko Fecht
321 KB, PDF
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The international integration of foreign exchange markets in the central and east European accession countries: speculative efficiency, transaction costs and exchange rate premiums Discussion paper 08/2003: Sabine Herrmann, Axel Jochem
198 KB, PDF
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Determinants of German Foreign Direct Investment in Latin American and Asian Emerging Markets in the 1990s Discussion paper 11/2003: Torsten Wezel
513 KB, PDF
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Die internationale Integration der Devisenmärkte in den mittel- und osteuropäischen Beitrittsländern: Spekulative Effizienz, Transaktionskosten und Wechselkursprämien Diskussionspapier 08/2003: Sabine Herrmann, Axel Jochem
171 KB, PDF
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Determinants of German FDI: New Evidence from Micro-Data Discussion paper 09/2003: Claudia M. Buch, Jörn Kleinert, Farid Toubal
145 KB, PDF
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Die internationale Integration der Geldmärkte in den mittel- und osteuropäischen Beitrittsländern: Abweichungen von der gedeckten Zinsparität, Kapitalverkehrskontrollen und Ineffizienzen des Finanzsektors Diskussionspapier 07/2003: Sabine Herrmann, Axel Jochem
188 KB, PDF
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The international integration of money markets in the central and east European accession countries: deviations from covered interest parity, capital controls and inefficiencies in the financial sector Discussion paper 07/2003: Sabine Herrmann, Axel Jochem
158 KB, PDF
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A vectorautoregressive investment model (VIM) and monetary policy: panel evidence from German firms Discussion paper 06/2003: Jörg Breitung, Robert S. Chirinko, Ulf von Kalckreuth
278 KB, PDF
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A comparison of dynamic panel data estimators: Monte Carlo evidence and an application to the investment function Discussion paper 05/2003: Andreas Behr
249 KB, PDF
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Multiple equilibrium overnight rates in a dynamic interbank market game Discussion paper 04/2003: Jens Tapking
361 KB, PDF
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The stock return-inflation puzzle and the asymmetric causality in stock returns,inflation and real activity Discussion paper 03/2003: Jeong-Ryeol Kim
254 KB, PDF
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Finite-sample distributions of self normalized sums Discussion paper 02/2003: Jeong-Ryeol Kim
460 KB, PDF
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Testing mean-variance efficiency in CAPM with possibly non-gaussian errors: an exact simulation-based approach Discussion paper 01/2003: Marie-Claude Beaulieu, Jean-Marie Dufour, Lynda Khalaf
380 KB, PDF
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Optimal factor taxation under wage bargaining - a dynamic perspective Discussion paper 31/2002: Leopold von Thadden, Erkki Koskela
351 KB, PDF
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Genetic Learning as an Explanation of Stylized Facts of Foreign Exchange Markets Discussion paper 29/2002: Thomas Lux, Sascha Schornstein
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Wechselkurszielzonen, wirtschaftlicher Aufholprozess und endogene Realignmentrisiken Diskussionspapier 30/2002: Karin Radeck
362 KB, PDF
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Cost Push Shocks and Monetary Policies in Open Economies Discussion paper 27/2002: Alan Sutherland
309 KB, PDF
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Further Evidence On The Relationship Between Firm Investment And Financial Status Discussion paper 28/2002: Robert S. Chirinko, Ulf von Kalckreuth
152 KB, PDF
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Bootstrapping Autoregressions with Conditional Heteroskedasticity of Unknown Form Discussion paper 26/2002: Silvia Goncalves, Lutz Kilian
597 KB, PDF
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Tail Wags Dog? Time-Varying Information Shares in the Bund Market Discussion paper 24/2002: Christian Upper, Thomas Werner
146 KB, PDF
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Time Variation in the Tail Behaviour of Bund Futures Returns Discussion paper 25/2002: Thomas Werner, Christian Upper
232 KB, PDF
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Dynamic Q-investment functions for Germany using panel balance sheet data and a new algorithm for the capital stock at replacement values Discussion paper 23/2002: Andreas Behr, Egon Bellgardt
294 KB, PDF