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04
JUN 2018
14:15 - 15:45

IWH Research Seminar

Interest Rates, Market Power, and Financial Stability

Wer
David Martinez-Miera (University of Madrid)
Wo
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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09
SEP 2025
14:15 - 15:45

IWH Research Seminar

Asymmetric Consumption Responses to Equivalent Real Interest Rate Changes

Wer
Ciril Bosch-Rosa (TU Berlin)
Wo
IWH, conference room and via Zoom

We study how individuals adjust consumption in response to changes in the real interest rate using a large, preregistered, within-subject survey experiment on a representative sample of the German population. Respondents evaluate hypothetical scenarios in which the real interest rate rises by five percentage points through either an increase in the nominal interest rate or an equivalent decline in expected inflation.

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