Second Workshop on

Financial Market Imperfections and Macroeconomic Performance

March 1 – 2, 2013

University of Cologne, Germany

Conference program

Session 1:


Session 2:

  • Sören Radde “Endogenous Liquidity and Monetary Policy”
  • Thomas Siemsen “Relationship Lending and the Microfoundation of Loan Rate Inertia in a
    New Keynesian DSGE Model”

Session 3:

  • Franziska Bremus “Big Banks and Macroeconomic Outcomes: Theory and Cross‐Country
    Evidence of Granularity”
  • Florian Hett “Do Bank Bailouts Hurt Market Discipline? Evidence from the Recent
    Financial Crisis”
  • Reint Gropp “The Real Effects of Public Guarantees”


Session 4:

  • Markus Behn “Capital Regulation and the Cyclicality of Lending – An Empirical
  • Holger Daske “Reporting Standards versus Bank Regulation: What Determines Bank

Session 5:

  • Patrick Hürtgen “Sovereign Default Risk and State‐Dependent Twin Deficits”
  • Joost Roettger “Public Debt, Inflation, and Sovereign Default”


Session 6:

  • Maren Froemel “External Debt and the Cyclicality of Social Transfers”
  • Zeno Enders “Global Banking, Trade, and the International Transmission of the Great

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