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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Trade in value added: Do we need new measures of competitiveness? Kirsten Lommatzsch, Maria A. Silgoner, Paul Ramskogler
799 KB, PDF
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The imperfect-common-knowledge Phillips curve: Calvo versus Rotemberg Radek Šauer
342 KB, PDF
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The effect of conventional and unconventional euro area monetary policy on macroeconomic variables Arne Halberstadt, Leo Krippner
2 MB, PDF
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On measuring uncertainty and its impact on investment: cross-country evidence from the euro area Philipp Meinen, Oke Röhe
1 MB, PDF
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Macroeconomic now- and forecasting based on the factor error correction model using targeted mixed frequency indicators Jeong-Ryeol Kurz-Kim
615 KB, PDF
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Time-varying volatility, financial intermediation and monetary policy Sandra Eickmeier, Norbert Metiu, Esteban Prieto
797 KB, PDF
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Support for the SME supporting factor – multi-country empirical evidence on systematic risk factor for SME loans Michel Dietsch, Philipp Koziol, Klaus Düllmann, Christine Ott, Henri Fraisse
1 MB, PDF
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Optimal fiscal substitutes for the exchange rate in a monetary union Christoph Kaufmann
719 KB, PDF
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The determinants of CDS spreads: evidence from the model space Matthias Pelster, Johannes Vilsmeier
1 MB, PDF
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Spillover effects of credit default risk in the euro area and the effects on the euro: a GVAR approach Timo Bettendorf
455 KB, PDF
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Financial shocks and inflation dynamics Angela Abbate, Sandra Eickmeier, Esteban Prieto
574 KB, PDF
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Thoughts on a fiscal union in EMU Niklas Gadatsch, Josef Hollmayr, Nikolai Stähler
1 MB, PDF
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Learning about banks’ net worth and the slow recovery after the financial crisis Josef Hollmayr, Michael Kühl
895 KB, PDF
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The effects of government bond purchases on leverage constraints of banks and non-financial firms Michael Kühl
1 MB, PDF
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Potential implications of a NSFR on German banks‘ credit supply and profitability Matthias Schmitt, Christian Schmaltz
2 MB, PDF
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On the suitability of alternative competitiveness indicators for explaining real exports of advanced economies Christoph Fischer, Oliver Hossfeld, Karin Radeck
352 KB, PDF
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Solving RE models with discontinuous policy rules – an application to minimum wage setting in Germany Dirk Bursian
597 KB, PDF
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Cross-border transmission of emergency liquidity Thomas Kick, Michael Koetter, Manuela Storz
1 MB, PDF
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Optimal unemployment insurance and international risk sharing Stéphane Moyen, Nikolai Stähler, Fabian Winkler
568 KB, PDF
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Below the zero lower bound – a shadow-rate term structure model for the euro area Wolfgang Lemke, Andreea L. Vladu
715 KB, PDF
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Inflation expectations, disagreement, and monetary policy Mathias Hoffmann, Patrick Hürtgen
485 KB, PDF
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How does P2P lending fit into the consumer credit market? Calebe de Roure, Loriana Pelizzon, Paolo Tasca
445 KB, PDF
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Capturing information contagion in a stress-testing framework Kartik Anand, Céline Gauthier, Prasanna Gai, Moez Souissi
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Approximating fixed-horizon forecasts using fixed-event forecasts Malte Knüppel, Andreea L. Vladu
471 KB, PDF
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International banking and cross-border effects of regulation: lessons from Germany Jana Ohls, Marcus Pramor, Lena Tonzer
594 KB, PDF
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Budget-neutral labour tax wedge reductions: a simulation-based analysis for selected euro area countries Maria-Grazia Attinasi, Doris Prammer, Nikolai Stähler, Martino Tasso, Stefan van Parys
662 KB, PDF
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Flying under the radar: the effects of short-sale disclosure rules on investor behavior and stock prices Stephan Jank, Christoph Roling, Esad Smajlbegovic
737 KB, PDF
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Transmission of global financial shocks to EMU member states: the role of monetary policy and national factors Maria Gelman, Axel Jochem, Stefan Reitz
1 MB, PDF
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Banks’ interest rate risk and search for yield: a theoretical rationale and some empirical evidence Christoph Memmel, Atılım Seymen, Max Teichert
582 KB, PDF
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On the dynamics of the investment income balance Thomas A. Knetsch, Arne J. Nagengast
800 KB, PDF
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The effect of bank shocks on firm-level and aggregate investment João Amador, Arne J. Nagengast
1 MB, PDF
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Point, interval and density forecasts of exchange rates with time-varying parameter models Angela Abbate, Massimiliano Marcellino
900 KB, PDF
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Black Monday, globalization and trading behavior of stock investors Jeong-Ryeol Kurz-Kim
533 KB, PDF
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Asset encumbrance, bank funding and financial fragility Toni Ahnert, Kartik Anand, Prasanna Gai, James Chapman
594 KB, PDF
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How central is central counterparty clearing? A deep dive into a European repo market during the crisis André Ebner, Falko Fecht, Alexander Schulz
2 MB, PDF
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The joint dynamics of sovereign ratings and government bond yields Makram El-Shagi, Gregor von Schweinitz
583 KB, PDF
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You’re banned! The effect of sanctions on German cross-border financial flows Tibor Besedeš, Stefan Goldbach, Volker Nitsch
428 KB, PDF
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Traditional banks, shadow banks and the US credit boom – credit origination versus financing Robert Unger
2 MB, PDF
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Credit risk interconnectedness: what does the market really know? Puriya Abbassi, Christian Brownlees, Christina Hans, Natalia Podlich
924 KB, PDF
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A data-driven selection of an appropriate seasonal adjustment approach Karsten Webel
1 MB, PDF
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Does banknote quality affect counterfeit detection? Experimental evidence from Germany and the Netherlands Frank van der Horst, Martina Eschelbach, Susann Sieber, Jelle Miedema
1 MB, PDF
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How do regional labor markets adjust to immigration? A dynamic analysis for post-war Germany Sebastian Till Braun, Henning Weber
971 KB, PDF
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Heterogeneity in euro-area monetary policy transmission: results from a large multi-country BVAR model Martin Mandler, Michael Scharnagl, Ute Volz
484 KB, PDF