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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A flexible state-space model with lagged states and lagged dependent variables: Simulation smoothing Discussion paper 15/2019: Philipp Hauber, Christian Schumacher, Jiachun Zhang
410 KB, PDF
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Equilibrium real exchange rate estimates across time and space Discussion paper 14/2019: Christoph Fischer
444 KB, PDF
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Labor market reforms, precautionary savings, and global imbalances Discussion paper 13/2019: Brigitte Hochmuth, Stephane Moyen, Nikolai Stähler
3 MB, PDF
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Fear, deposit insurance schemes, and deposit reallocation in the German banking system Discussion paper 12/2019: Falko Fecht, Stefan Thum, Patrick Weber
3 MB, PDF
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Redemptions and asset liquidations in corporate bond funds Discussion paper 11/2019: Niko Dötz, Mark Weth
646 KB, PDF
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Procyclical leverage in Europe and its role in asset pricing Discussion paper 10/2019: Markus Baltzer, Alexandra Koehl, Stefan Reitz
531 KB, PDF
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Model and estimation risk in credit risk stress tests Discussion paper 9/2019: Peter Grundke, Kamil Pliszka, Michael Tuchscherer
1 MB, PDF
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The nonlinear dynamics of corporate bond spreads: Regime-dependent effects of their determinants Discussion paper 8/2019: Henning Fischer, Oscar Stolper
1 MB, PDF
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Information effects of euro area monetary policy: New evidence from high-frequency futures data Discussion paper 7/2019: Mark Kerssenfischer
2 MB, PDF
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Connectedness between G10 currencies: Searching for the causal structure Discussion paper 6/2019: Timo Bettendorf, Reinhold Heinlein
519 KB, PDF
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What drives the short-term fluctuations of banks’ exposure to interest rate risk? Discussion paper 5/2019: Christoph Memmel
651 KB, PDF
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Anatomy of regional price differentials: Evidence from micro price data Discussion paper 4/2019: Sebastian Weinand, Ludwig von Auer
1 MB, PDF
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Who benefits from using property taxes to finance a labor tax wedge reduction? Discussion paper 3/2019: Nikolai Stähler
977 KB, PDF
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Monetary policy, housing, and collateral constraints Discussion paper 2/2019: Thorsten Franz
1 MB, PDF
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The interest rate exposure of euro area households Discussion paper 1/2019: Panagiota Tzamourani
1 MB, PDF
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Credit crunches from occasionally binding bank borrowing constraints Discussion paper 57/2018: Tom D. Holden, Paul Levine, Jonathan M. Swarbrick
974 KB, PDF
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Assessing the uncertainty in central banks‘ inflation outlooks Discussion paper 56/2018: Malte Knüppel, Guido Schultefrankenfeld
641 KB, PDF
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Revisiting the finance and growth nexus – A deeper look at sectors and instruments Discussion paper 55/2018: Robert Unger
598 KB, PDF
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Effects of bank capital requirement tightenings on inequality Discussion paper 54/2018: Sandra Eickmeier, Benedikt Kolb, Esteban Prieto
415 KB, PDF
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Politics, banks, and sub-sovereign debt: Unholy trinity or divine coincidence? Discussion paper 53/2018: Michael Koetter, Alexander Popov
1 MB, PDF
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The role of non-performing loans for bank lending rates Discussion paper 52/2018: Sebastian Bredl
704 KB, PDF
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Bank capital buffers in a dynamic model Discussion paper 51/2018: Jochen Mankart, Alexander Michaelides, Spyros Pagratis
995 KB, PDF
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Monetary-fiscal interaction and quantitative easing Discussion paper 50/2018: Josef Hollmayr, Michael Kühl
2 MB, PDF
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May the force be with you: Exit barriers, governance shocks, and profitability sclerosis in banking Discussion paper 49/2018: Michael Koetter, Carola Müller, Felix Noth, Benedikt Fritz
1 MB, PDF
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An evaluation of early warning models for systemic banking crises: Does machine learning improve predictions? Discussion paper 48/2018: Johannes Beutel, Sophia List, Gregor von Schweinitz
1 MB, PDF
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A structural quantitative analysis of services trade de-liberalization Discussion paper 47/2018: Sven Blank, Peter H. Egger, Valeria Merlo, Georg Wamser
1 MB, PDF
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Monetary policy communication shocks and the macroeconomy Discussion paper 46/2018: Robert Goodhead, Benedikt Kolb
2 MB, PDF
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Freeze! Financial sanctions and bank responses Discussion paper 45/2018: Matthias Efing, Stefan Goldbach, Volker Nitsch
2 MB, PDF
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Macroeconomic effects of bank capital regulation Discussion paper 44/2018: Sandra Eickmeier, Benedikt Kolb, Esteban Prieto
2 MB, PDF
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Implications of bank regulation for loan supply and bank stability: A dynamic perspective Discussion paper 43/2018: Monika Bucher, Diemo Dietrich, Achim Hauck
1 MB, PDF
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The pricing of FX forward contracts: micro evidence from banks’ dollar hedging Discussion paper 42/2018: Puriya Abbassi, Falk Bräuning
1023 KB, PDF
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Seasonal adjustment of daily time series Discussion paper 41/2018: Daniel Ollech
7 MB, PDF
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Large mixed-frequency VARs with a parsimonious time-varying parameter structure Discussion paper 40/2018: Thomas B. Götz, Klemens Hauzenberger
1 MB, PDF
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Coordination failures, bank runs and asset prices Discussion paper 39/2018: Monika Bucher, Diemo Dietrich, Mich Tvede
384 KB, PDF
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Oil price shocks and stock return volatility: New evidence based on volatility impulse response analysis Discussion paper 38/2018: Sercan Eraslan, Faek Menla Ali
562 KB, PDF
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Equilibrium asset pricing in directed networks Discussion paper 37/2018: Nicole Branger, Patrick Konermann, Christoph Meinerding, Christian Schlag
947 KB, PDF
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Short-term forecasting economic activity in Germany: a supply and demand side system of bridge equations Discussion paper 36/2018: Nicolas Pinkwart
8 MB, PDF
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What are the real effects of financial market liquidity? Evidence on bank lending from the euro area Discussion paper 34/2018: Andreas R. Dombret, Daniel Foos, Kamil Pliszka, Alexander Schulz
1 MB, PDF
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The role of central bank knowledge and trust for the public’s inflation expectations Discussion paper 32/2018: Sathya Mellina, Tobias Schmidt
1 MB, PDF
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To sign or not to sign? On the response of prices to financial and uncertainty shocks Discussion paper 33/2018: Philipp Meinen, Oke Röhe
528 KB, PDF
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On a quest for robustness: about model risk, randomness and discretion in credit risk stress tests Discussion paper 31/2018: Thomas Siemsen, Johannes Vilsmeier
972 KB, PDF
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Labor tax reductions in Europe: the role of property taxation Discussion paper 30/2018: Marcin Bielecki, Nikolai Stähler
2 MB, PDF
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Interest rate rules under financial dominance Discussion paper 29/2018: Vivien Lewis, Markus Roth
521 KB, PDF
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Fiscal multipliers of central, state and local government and of the social security funds in Germany: evidence of a SVAR Discussion paper 28/2018: Josef Hollmayr, Jan Kuckuck
3 MB, PDF
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With a little help from my friends: Survey-based derivation of euro area short rate expectations at the effective lower bound Discussion paper 27/2018: Felix Geiger, Fabian Schupp
2 MB, PDF
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Bank use of sovereign CDS in the eurozone crisis: hedging and risk incentives Discussion paper 26/2018: Viral V. Acharya, Yalin Gündüz, Timothy C. Johnson
1 MB, PDF
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Convertible bonds and bank risk-taking Discussion paper 24/2018: Natalya Martynova, Enrico Perotti
1 MB, PDF
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Interest rate pass-through to the rates of core deposits – a new perspective Discussion paper 25/2018: Heiko Sopp
584 KB, PDF
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Love and money with inheritance: marital sorting by labor income and inherited wealth in the modern partnership Discussion paper 23/2018: Etienne Pasteau, Junyi Zhu
744 KB, PDF