Discussion papers
The discussion papers with economic studies or financial and banking studies are elaborated by the research center of the Deutsche Bundesbank.
Subscribe to the newsletter for discussion papers
-
Convenient but risky government bonds Discussion paper 15/2023: Matthias Kaldorf, Joost Röttger
528 KB, PDF
-
Shadow-rate VARs Discussion paper 14/2023: Andrea Carriero, Todd E. Clark, Massimiliano Marcellino, Elmar Mertens
-
Mental accounting and the marginal propensity to consume Discussion paper 13/2023: René Bernard
2 MB, PDF
-
Long-term deposit funding and demand for central bank funds: Evidence from targeted longer-term refinancing operations Discussion paper 12/2023: Adina-Elena Fudulache, Martin R. Goetz
2 MB, PDF
-
Banks’ net interest margin and changes in the term structure Discussion paper 11/2023: Christoph Memmel, Lotta Heckmann-Draisbach
676 KB, PDF
-
On the empirical relevance of the exchange rate as a shock absorber at the zero lower bound Discussion paper 10/2023: David Finck, Mathias Hoffmann, Patrick Hürtgen
2 MB, PDF
-
Banks of a feather: The informational advantage of being alike Discussion paper 09/2023: Peter Bednarek, Valeriya Dinger, Alison Schultz, Natalja von Westernhagen
1 MB, PDF
-
Pricing the Bund term structure with linear regressions – without an observable short rate Discussion paper 08/2023: Christian Speck
2 MB, PDF
-
The rollout of internal credit risk models: Implications for the novel partial-use philosophy Discussion paper 07/2023: Carina Schlam, Corinna Woyand
956 KB, PDF
-
Asset allocation with recursive parameter updating and macroeconomic regime identifiers Discussion paper 06/2023: Milad Goodarzi, Christoph Meinerding
3 MB, PDF
-
Time-varying stock return correlation, news shocks, and business cycles Discussion paper 05/2023: Norbert Metiu, Esteban Prieto
1 MB, PDF
-
Shocks to transition risk Discussion paper 04/2023: Christoph Meinerding, Yves S. Schüler, Philipp Zhang
1 MB, PDF
-
Inflation expectations in the wake of the war in Ukraine Discussion paper 03/2023: Geghetsik Afunts, Misina Cato, Tobias Schmidt
852 KB, PDF
-
Households’ expectations and regional COVID-19 dynamics Discussion paper 02/2023: Misina Cato, Tobias Schmidt
998 KB, PDF
-
Make-up strategies with incomplete markets and bounded rationality Discussion paper 01/2023: Michael Dobrew, Rafael Gerke, Sebastian Giesen, Joost Röttger
746 KB, PDF
-
Bayesian VARs and prior calibration in times of COVID-19 Discussion paper 52/2022: Benny Hartwig
3 MB, PDF
-
The preferential treatment of green bonds Discussion paper 51/2022: Francesco Giovanardi, Matthias Kaldorf, Lucas Radke, Florian Wicknig
704 KB, PDF
-
Score-based calibration testing for multivariate forecast distributions Discussion paper 50/2022: Malte Knüppel, Fabian Krüger, Marc-Oliver Pohle
1 MB, PDF
-
Estimating the impact of quality adjustment on consumer price inflation Discussion paper 49/2022: Jan-Oliver Menz, Elisabeth Wieland, Jens Mehrhoff
1 MB, PDF
-
Real interest rates, bank borrowing, and fragility Discussion paper 48/2022: Toni Ahnert, Kartik Anand, Philipp Johann König
593 KB, PDF
-
On the macroeconomic effects of reinvestments in asset purchase programmes Discussion paper 47/2022: Rafael Gerke, Daniel Kienzler, Alexander Scheer
1 MB, PDF
-
What drives inflation? Disentangling demand and supply factors Discussion paper 46/2022: Sandra Eickmeier, Boris Hofmann
3 MB, PDF
-
A nonlinear generalization of the Country-Product-Dummy method Discussion paper 45/2022: Ludwig von Auer, Sebastian Weinand
2 MB, PDF
-
Chinese supply chain shocks Discussion paper 44/2022: Makram Khalil, Marc-Daniel Weber
3 MB, PDF
-
The global financial cycle and macroeconomic tail risks Discussion paper 43/2022: Johannes Beutel, Lorenz Emter, Norbert Metiu, Esteban Prieto, Yves Schüler
1 MB, PDF
-
-
Who creates and who bears flow externalities in mutual funds? Discussion paper 41/2022: Daniel Fricke, Stephan Jank, Hannes Wilke
2 MB, PDF
-
Determinants of TARGET2 transactions of European banks based on micro-data Discussion paper 40/2022: Constantin Drott, Stefan Goldbach, Axel Jochem
2 MB, PDF
-
The Eurosystem’s asset purchase programmes, securities lending and Bund specialness Discussion paper 39/2022: Markus Baltzer, Kathi Schlepper, Christian Speck
751 KB, PDF
-
The effects of sanctions on Russian banks in TARGET2 transactions data Discussion paper 38/2022: Constantin Drott, Stefan Goldbach, Volker Nitsch
1 MB, PDF
-
Basel III and SME bank finance in Germany Discussion paper 37/2022: Philipp Marek, Ingrid Stein
589 KB, PDF
-
The impact of natural disasters on banks’ impairment flow – Evidence from Germany Discussion paper 36/2022: Iliriana Shala, Benno Schumacher
1 MB, PDF
-
Robust real-time estimates of the German output gap based on a multivariate trend-cycle decomposition Discussion paper 35/2022: Tino Berger, Christian Ochsner
2 MB, PDF
-
Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks Discussion paper 34/2022: James S. Cloyne, Patrick M. Hürtgen, Alan M. Taylor
2 MB, PDF
-
Going below zero – How do banks react? Discussion paper 33/2022: Henrike Michaelis
2 MB, PDF
-
New facts on consumer price rigidity in the euro area Discussion paper 32/2022: Erwan Gautier, Cristina Conflitti, Riemer P. Faber, Brian Fabo, Ludmila Fadejeva, Valentin Jouvanceau, Jan-Oliver Menz, Teresa Messner, Pavlos Petroulas, Pau Roldan-Blanco, Fabio Rumler, Sergio Santoro, Elisabeth Wieland, Helene Zimmer
4 MB, PDF
-
A review of some recent developments in the modelling and seasonal adjustment of infra-monthly time series Discussion paper 31/2022: Karsten Webel
1 MB, PDF
-
Loan pricing in internal capital markets and the impact of the two-tier system – Finance groups in Germany Discussion paper 30/2022: Ulrike Busch, Nuri Khayal, Melanie Klein
944 KB, PDF
-
Information transmission between banks and the market for corporate control Discussion paper 29/2022: Christian Bittner, Falko Fecht, Melissa Pala, Farzad Saidi
2 MB, PDF
-
Smart or smash? The effect of financial sanctions on trade in goods and services Discussion paper 28/2022: Tibor Besedeš, Stefan Goldbach, Volker Nitsch
1 MB, PDF
-
The impact of weight shifts on inflation: Evidence for the euro area HICP Discussion paper 27/2022: Thomas A. Knetsch, Patrick Schwind, Sebastian Weinand
698 KB, PDF
-
Spending effects of child-related fiscal transfers Discussion paper 26/2022: Olga Goldfayn-Frank, Vivien Lewis, Nils Wehrhöfer
629 KB, PDF
-
Carbon pricing, border adjustment and climate clubs: An assessment with EMuSe Discussion paper 25/2022: Anne Ernst, Natascha Hinterlang, Alexander Mahle, Nikolai Stähler
4 MB, PDF
-
CDS market structure and bond spreads Discussion paper 24/2022: Andrada Bilan, Yalin Gündüz
787 KB, PDF
-
Pulling ourselves up by our bootstraps: the greenhouse gas value of products, enterprises and industries Discussion paper 23/2022: Ulf von Kalckreuth
1 MB, PDF
-
The augmented bank balance-sheet channel of monetary policy Discussion paper 22/2022: Christian Bittner, Diana Bonfim, Florian Heider, Farzad Saidi, Glenn Schepens, Carla Soares
1 MB, PDF
-
Monetary policy and endogenous financial crises Discussion paper 21/2022: Frédéric Boissay, Fabrice Collard, Jordi Gali, Cristina Manea
-
Foreign exchange interventions and their impact on expectations: Evidence from the USD/ILS options market Discussion paper 20/2022: Markus Hertrich, Daniel Nathan
-
The impact of German public support transfers on firm finance – Evidence from the Covid-19 crisis Discussion paper 19/2022: Leo Gärtner, Philipp Marek
782 KB, PDF
-
Time inconsistency and overdraft use: Evidence from transaction data and behavioral measurement experiments Discussion paper 18/2022: Andrej Gill, Florian Hett, Johannes Tischer
5 MB, PDF