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Professor Michael Koetter, Ph.D.

Professor Michael Koetter, Ph.D.
Aktuelle Position

seit 10/20

Stellvertretender Präsident

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 9/16

Leiter der Abteilung Finanzmärkte

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 9/16

Professor für Financial Economics

Otto-von-Guericke-Universität, Magdeburg

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Forschungsschwerpunkte
  • Allokation von Unternehmensinvestition und Gesamtwachstum
  • Finanzintermediation
  • Finanzmarktstabilität und Bankenregulierung
  • Risikobereitschaft und Wettbewerb
  • reale Auswirkungen auf Geldpolitik und Wirtschaftspolitik

Michael Koetter ist stellvertretender Präsident des Instituts und Leiter der Abteilung Finanzmärkte am IWH. Er ist Professor für Financial Economics an der Otto-von-Guericke-Universität Magdeburg. Die Abteilung richtet die jährliche FIN-FIRE conference on challenges to financial stability aus. Seine Forschung untersucht vornehmlich mithilfe empirischer Methoden die Interaktionen zwischen Finanzinstitutionen und -systemen, Regulation, Politik und der Realwirtschaft.

Michael Koetter promovierte an der Universität Utrecht und studierte International Money and Banking an der Universität Maastricht. Er war Professor an der Frankfurt School of Finance & Management (2012 – 2016) und an der Universität Groningen (2006 – 2012). Zurzeit ist er Mitglied des wissenschaftlichen Beratungsausschusses des Forschungsdaten- und Servicezentrums der Deutschen Bundesbank, Editor bei der Fachzeitschrift Economics of Transition and Institutional Change (ETIC) sowie Associate Editor beim Journal of Financial Stability. Er fungierte regelmäßig als Berater bei Zentralbanken und war Präsident der IBEFA.

Ihr Kontakt

Professor Michael Koetter, Ph.D.
Professor Michael Koetter, Ph.D.
- Abteilung Finanzmärkte
Nachricht senden +49 345 7753-727 Persönliche Seite LinkedIn Profil

Publikationen

Zitationen
5859

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A Belowground Perspective on the Nexus between Biodiversity Change, Climate Change, and Human Well-being

Michael Koetter et al.

in: Journal of Sustainable Agriculture and Environment, Nr. 2, 2024

Abstract

<p>Soil is central to the complex interplay among biodiversity, climate, and society. This paper examines the interconnectedness of soil biodiversity, climate change, and societal impacts, emphasizing the urgent need for integrated solutions. Human-induced biodiversity loss and climate change intensify environmental degradation, threatening human well-being. Soils, rich in biodiversity and vital for ecosystem function regulation, are highly vulnerable to these pressures, affecting nutrient cycling, soil fertility, and resilience. Soil also crucially regulates climate, influencing energy, water cycles, and carbon storage. Yet, climate change poses significant challenges to soil health and carbon dynamics, amplifying global warming. Integrated approaches are essential, including sustainable land management, policy interventions, technological innovations, and societal engagement. Practices like agroforestry and organic farming improve soil health and mitigate climate impacts. Effective policies and governance are crucial for promoting sustainable practices and soil conservation. Recent technologies aid in monitoring soil biodiversity and implementing sustainable land management. Societal engagement, through education and collective action, is vital for environmental stewardship. By prioritizing interdisciplinary research and addressing key frontiers, scientists can advance understanding of the soil biodiversity–climate change–society nexus, informing strategies for environmental sustainability and social equity.</p>

Publikation lesen
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Non-Standard Errors

Albert J. Menkveld Anna Dreber Felix Holzmeister Juergen Huber Magnus Johannesson Michael Koetter Markus Kirchner Sebastian Neusüss Michael Razen Utz Weitzel Shuo Xia et al.

in: Journal of Finance, Nr. 3, 2024

Abstract

<p>In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation across researchers adds uncertainty—nonstandard errors (NSEs). We study NSEs by letting 164 teams test the same hypotheses on the same data. NSEs turn out to be sizable, but smaller for more reproducible or higher rated research. Adding peer-review stages reduces NSEs. We further find that this type of uncertainty is underestimated by participants.</p>

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Compensation Regulation in Banking: Executive Director Behavior and Bank Performance after the EU Bonus Cap

Stefano Colonnello Michael Koetter Konstantin Wagner

in: Journal of Accounting and Economics, Nr. 1, 2023

Abstract

The regulation that caps executives’ variable compensation, as part of the Capital Requirements Directive IV of 2013, likely affected executive turnover, compensation design, and risk-taking in EU banking. The current study identifies significantly higher average turnover rates but also finds that they are driven by CEOs at poorly performing banks. Banks indemnified their executives by off-setting the bonus cap with higher fixed compensation. Although our evidence is only suggestive, we do not find any reduction in risk-taking at the bank level, one purported aim of the regulation.

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Arbeitspapiere

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The Reverse Revolving Door in the Supervision of European Banks

Stefano Colonnello Michael Koetter Alex Sclip Konstantin Wagner

in: IWH Discussion Papers, Nr. 25, 2023

Abstract

We show that around one third of executive directors on the boards of national supervisory authorities (NSA) in European banking have an employment history in the financial industry. The appointment of executives without a finance background associates with negative valuation effects. Appointments of former bankers, in turn, spark positive stock market reactions. This „proximity premium“ of supervised banks is a more likely driver of positive valuation effects than superior financial expertise or intrinsic skills of former executives from the financial industry. Prior to the inception of the European Single Supervisory Mechanism, the presence of former financial industry executives on the board of NSA associates with lower regulatory capital and faster growth of banks, pointing to a more lenient supervisory style.

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Real Estate Transaction Taxes and Credit Supply

Michael Koetter Philipp Marek Antonios Mavropoulos

in: IWH Discussion Papers, Nr. 26, 2022

Abstract

We exploit staggered real estate transaction tax (RETT) hikes across German states to identify the effect of house price changes on mortgage credit supply. Based on approximately 33 million real estate online listings, we construct a quarterly hedonic house price index (HPI) between 2008:q1 and 2017:q4, which we instrument with state-specific RETT changes to isolate the effect on mortgage credit supply by all local German banks. First, a RETT hike by one percentage point reduces HPI by 1.2%. This effect is driven by listings in rural regions. Second, a 1% contraction of HPI induced by an increase in the RETT leads to a 1.4% decline in mortgage lending. This transmission of fiscal policy to mortgage credit supply is effective across almost the entire bank capitalization distribution.

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The Effect of Firm Subsidies on Credit Markets

Aleksandr Kazakov Michael Koetter Mirko Titze Lena Tonzer

in: IWH Discussion Papers, Nr. 24, 2022

Abstract

<p>We use project-level information for the largest regional economic development program in German history to study how government subsidies to firms affect credit markets. We identify credit market responses by considering both, bank lending and firm borrowing during 1998-2019. We find that subsidies lead to larger lending volumes without crowding out credit to non-subsidized firms. Banks that are more exposed to subsidized firms exhibit moderately higher credit risk though. Firm subsidies support lending especially when credit constraints are elevated during the years of the financial crisis.</p>

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Themen

Finanzinstitutionen Finanzmärkte Finanzstabilität Evaluierung von Politikmaßnahmen Geldpolitik Neues Europa Risiko Regulierung Immobilien Mittelstand Corona Energiewende
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