Political Cycles in Bank Lending to the Government
Review of Financial Studies,
We study how political party turnover after German state elections affects banks’ lending to the regional government. We find that between 1992 and 2018, party turnover at the state level leads to a sharp and substantial increase in lending by local savings banks to their home-state government. This effect is accompanied by an equivalent reduction in private lending. A statistical association between political party turnover and government lending is absent for comparable cooperative banks that exhibit a similar regional organization and business model. Our results suggest that political frictions may interfere with government-owned banks’ local development objectives.
May 2022 Oliver Holtemöller: "IT-Fachkräfte verzweifelt gesucht" ...
Podcast "Die Wirtschaftsprüfer"
Podcast „Die Wirtschaftsprüfer“ ...
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Brown Bag Seminar
Brown Bag Seminar Financial Markets Department The seminar series "Brown...
To Rent or not to Rent: A Household Finance Perspective on Berlin's Short-term Rental Regulation
IWH Discussion Papers,
With the increasing concerns that accompany the rising trends of house sharing economies, regulators impose new laws to counteract housing supply scarcity. In this paper, I investigate whether the ban on short-term entire house listings activated in Berlin in May 2016 had any adverse effects from a household finance perspective. More specifically, I derive short-term rental income and counter-factually compare it with long-term rental income to find that the ban, by decreasing the supply of short-term housing, accelerated short-term rental income but did not have any direct effect on long-term rental income. Commercial home-owners therefore would find renting on the short-term market to be financially advantageous.
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