Contact
Contact Get a quick overview of how to reach us and whom to contact: Postal...
See page
Research Departments
Research Departments Research at IWH is organised in a matrix. As the primary organisational units, the research departments have been established on a medium to long-term...
See page
Brown Bag Seminar
Brown Bag Seminar Financial Markets Department The seminar series "Brown...
See page
Demographic Change
Demographic Change Dossier ...
See page
Centre for Evidence-based Policy Advice
Centre for Evidence-based Policy Advice (IWH-CEP) ...
See page
01.04.2019 • 8/2019
Bank profitability increases after eliminating consolidation barriers
When two banks merge because political consolidation barriers are abolished, the combined entity is considerably more profitable and useful to the real economy. This is the headline result of an analysis of compulsory savings banks mergers carried out by the Halle Institute for Economic Research (IWH). The study yields important insights for the German and the European banking market.
Michael Koetter
Read press release
Elevated Uncertainty during the Financial Crisis: Do Effects on Subjective Well-being Differ across European Countries?
Lena Tonzer
B.E. Journal of Economic Analysis & Policy,
No. 2,
2019
Abstract
This paper focuses on the effect of uncertainty as reflected by financial market variables on subjective well-being. The analysis is based on Eurobarometer surveys, covering 18 countries over the period 2000–2013. Individuals report lower levels of life satisfaction in times of higher uncertainty approximated by stock market volatility. This effect is heterogeneous across respondents: the probability of being unsatisfied is higher for respondents who are older, unemployed, less educated, and live in one of the GIIPS countries of the Euro area. Furthermore, higher uncertainty in combination with a financial crisis increases the probability of reporting low values of life satisfaction.
Read article
Monetary Policy Communication: Frameworks and Market Impact
Michael McMahon, Alfred Schipke, Xiang Li
A. Schipke, M. Rodlauer, L. Zhang (eds.), The Future of China's Bond Market. Washington, D.C.: International Monetary Fund,
forthcoming
Abstract
Bond markets are an important conduit of monetary policy signals to the economy. Reforms that improve the functioning of bond markets will hence facilitate macroeconomic management effectiveness. Here communication plays an increasingly important role. Good monetary policy communication is not only important to improve the effectiveness of monetary policy in the first place, but by reducing uncertainty it makes bond markets more attractive for investors, further improving monetary transmission.
Read article
IWH FDI Micro Database
IWH FDI Micro Database The IWH FDI Micro Database (FDI = Foreign Direct...
See page
Mission
The Halle Spirit We provide independent research on economic topics that really matter and aim to enrich society with facts and evidence-based insights that facilitate...
See page
