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26.06.2019 • 14/2019

Study: How financial crises lower life satisfaction and how to prevent this

Financial crises not only result in severe disruptions to the economic system, they also affect people’s life satisfaction. A new study by Martin Luther University Halle-Wittenberg (MLU) and the Halle Institute for Economic Research (IWH) shows that weaker members of society are more affected by increased uncertainty during crisis times, even if they may not be speculating on the stock market themselves. This could potentially also lower their propensity to consume, thereby intensifying the impact of a financial crisis. The study was recently published in “The B.E. Journal of Economic Analysis & Policy”.

Lena Tonzer
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26
NOV 2018
13:45 - 15:15

IWH Research Seminar

"Inspect what you expect to get respect?" Can bank supervision kill zombie lending?

Who
Geraldo Cerqueiro (Católica-Lisbon School of Business and Economics)
Where
IWH conference room

A bank in poor financial shape may have incentives to maintain a lending relationship with a "zombie" firm in order to avoid or delay the recognition of credit losses.

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08
OCT 2018
14:15 - 15:45

IWH Research Seminar

The New Area-Wide Model II: An Extended Version the ECB's Micro-founded Model for Forecasting and Policy Analysis with a Financial Sector

Who
Günther Coenen
Where
IWH conference room, Leipziger Straße 100

This paper provides a detailed description of an extended version of the ECB's New Area-Wide Model (NAWM) of the euro area (cf. Christoffel, Coenen and Warne, 2008).

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04
JUN 2018
14:15 - 15:45

IWH Research Seminar

Interest Rates, Market Power, and Financial Stability

Who
David Martinez-Miera (University of Madrid)
Where
IWH conference room

This paper analyzes the effects of policy rates on financial intermediaries' risk-taking decisions. We consider an economy where (i) intermediaries have market power in granting loans, (ii) intermediaries monitor borrowers which lowers their probability of default, and (iii) monitoring is not observable which creates a moral hazard problem.

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11
DEC 2017
14:15 - 15:45

IWH Research Seminar

The Anatomy of the Transmission of Macroprudential Policies: Evidence from Ireland

Who
Tim Eisert (Erasmus University Rotterdam)
Where
IWH conference room

We provide a comprehensive analysis of the transmission of macroprudential policies aimed at limiting bank risk-taking in residential real estate.

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16
OCT 2017
14:15 - 15:45

IWH Research Seminar

Does Bank Supervision Matter? Evidence from Regulatory Office Closures

Who
Jens Hagendorff (The University of Edinburgh)
Where
IWH conferene room

We use a quasi-natural experiment to identify the effects of supervision on bank behavior. Under the decentralized structure of U.S. bank supervision, banks in the same geographic area may be supervised by different regulatory offices.

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19
JUN 2017
14:15 - 15:45

IWH Research Seminar

Uncertainty Shocks in Currency Unions

Who
Benjamin Born (Rheinische Friedrich-Wilhelms-Universität Bonn)
Where
IWH conference room

Uncertainty shocks cause economic activity to contract and more so, if monetary policy is constrained by an effective lower bound on interest rates.

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15
AUG 2016
14:15 - 15:45

IWH Research Seminar

Why Are Big Banks Getting Bigger?

Who
Christoffer Koch (Federal Reserve Bank of Dallas)
Where
IWH conference room

The U.S. banking sector has become substantially more concentrated since the 1990s, raising questions about both the causes and implications of this consolidation.

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06
JUN 2016
14:15 - 15:45

IWH Research Seminar

Monetary Policy and Asset Mispricing

Who
Kerstin Bernoth (Deutsches Institut für Wirtschaftsforschung e.V.)
Where
IWH conference room

This paper investigates, whether conventional interest rate policy of central banks is a suitable instrument to attenuate excessive mispricing in stocks as suggested by the proponents of a 'leaning against the wind' (LATW) monetary policy.

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02
MAY 2016
14:15 - 15:45

IWH Research Seminar

Lending-of-Last-Resort is as Lending-of-Last-Resort Does: Central Bank Liquidity Provision and Interbank Market Functioning in the Euro Erea

Who
Florian Heider
Where
IWH conference room

This paper investigates the impact of ample liquidity provision by the European Central Bank on the functioning of the overnight unsecured interbank market from 2008 to 2014.

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