Volatilität, Wachstum und Finanzkrisen
Diese Forschungsgruppe analysiert die Entstehung von Instabilitäten im Finanzsystem und die realökonomischen Konsequenzen von Finanzkrisen. Dabei werden kausale Reaktionen gesamtwirtschaftlicher Größen auf makroökonomische Schocks identifiziert. Frühwarnmodelle beschreiben das zyklische Auftreten von Vulnerabilitäten im Finanzsystem.
IWH-Datenprojekt: Financial Stability Indicators in Europe
Forschungscluster
Finanzresilienz und RegulierungIhr Kontakt
Mitglied - Abteilung Makroökonomik
PROJEKTE
01.2018 ‐ 12.2018
International Monetary Policy Transmission
Deutsche Bundesbank
01.2017 ‐ 12.2018
Early-warning Models for Systemic Banking Crises
Deutsche Forschungsgemeinschaft (DFG)
Referierte Publikationen
Are Universal Banks Bad for Financial Stability? Germany During the World Financial Crisis
in: Quarterly Review of Economics and Finance, Nr. 2, 2012
Abstract
This case study explores the contribution of universal banking to financial stability in Germany during the recent financial crisis. Germany is a prototype for universal banking and has suffered from a rather small number of banking crises in the past. We review the banking literature and analyze the major institutional and regulatory features of the German financial system to establish a nexus between universal banking and stability.
Die Verlustquote bei Handelskreditausfällen – Eine empirische Untersuchung in Deutschland
in: Zeitschrift für Controlling & Management, Nr. 2, 2012
Publikation lesen
Macroeconomic Adjustment: The Baltic States versus Euro Area Crisis Countries
in: Intereconomics, Nr. 6, 2011
Abstract
Estonia, Latvia and Lithuania have succeeded in rapidly reducing their current account deficits despite fixed exchange rates. Which factors have played a major role in this? What similarities, and what differences, do the Baltic states show compared to Greece and Portugal? What insights can be gained for the political debate on the euro area debt crisis?
Did the Crisis Affect Potential Output?
in: Applied Economics Letters, Nr. 8, 2011
Abstract
Conventional Phillips-curve models that are used to estimate the output gap detect a substantial decline in potential output due to the present crisis. Using a multivariate state space model, we show that this result does not hold if the long run role of excess liquidity (that we estimate endogeneously) for inflation is taken into account.
New IMF Lending Facilities and Financial Stability in Emerging Markets
in: Economic Analysis and Policy, Nr. 2, 2011
Abstract
In the light of the current global financial and economic crisis, the International Monetary Fund (IMF) has undertaken some major reforms of its lending facilities. The new Flexible Credit Line and the High Access Precautionary Arrangements differ from what has been in place so far, by allowing for ex ante conditionality. This paper summarizes preconditions for effective last resort lending and evaluates the newly introduced measures, concluding that the Flexible Credit Line comes very close to what has been called an International Lender of Last Resort. The main obstacles are the low demand and slow progress in complementary reforms.
