Asset Prices and Monetary Policy
Bank Regulation and Market Discipline: Empirical Evidence from the Introduction of Basel II Pillar 3
Boom-Bust Cycles in Housing and Credit Markets: The Role of Financial Innovation and Government Policy
Debt Market Imperfections and Macroeconomic Implications
Financial Contagion through Market Prices - Theory and Evidence
Fiscal Consolidation in Times of Financial Stress: Theory and Evidence
- Hürtgen, P. and R. Rühmkorf (2014): Sovereign default risk and
state-dependent twin deficits, Journal of International Money and
Finance, forthcoming, DOI: 10.1016/j.jimonfin.2014.05.020.
- Born, B., G. Müller and J. Pfeifer (2014): Does austerity pay off?
- Müller, G. (2014): Fiscal austerity and the multiplier in times of crisis, German Economic Review 15(2), 243-258, May.
- Corsetti, G., K. Kuester, A. Meier, and G. Müller (2014): Sovereign risk and belief-driven fluctuations in the euro area, Journal of Monetary Economics 61, 53-73, January.
- Corsetti, G., K. Kuester, A. Meier, and G. Müller (2013): Sovereign Risk, Fiscal Policy, and Macroeconomic Stability, Economic Journal 123, F99–F132, February.
- Kirsch, F. and R. Rühmkorf (2013): Sovereign Borrowing, Financial Assistance and Debt Repudiation.
Illiquidity, Insolvency, and Banking Regulation
- Illing, G. and T. Siemsen (2014): Forward Guidance in a Simple Model with a Zero Lower Bound.
- Grimme, C. and T. Siemsen (2014): Interbank Uncertainty in a DSGE Model (work in progress).
- Corbae, D., P. D'Erasmo, S. Galaasen, A. Irarrazabal, and T. Siemsen
(2014): Stress Testing in a Structural Model of the Banking Industry
(work in progress).
Implications of Financial Market Imperfections for Wealth and Debt Accumulation in the Household Sector
International Integration in Heterogeneous Agent Economies with Capital Market Imperfections
Market Structure in Banking and Macroeconomic Stability
- Bremus, F. M. (2015): "Cross-border banking, bank market structures and market power: Theory and cross-country evidence", Journal of Banking & Finance 50(1): 242-259.
- Bremus, F. and C.M. Buch (2013): "Granularity in Banking and Growth: Does Financial Openness Matter?", CESIfo Discussion Paper No. 4356.
- Bremus, F., Buch, C.M., Russ, K.N. and M. Schnitzer (2013): "Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity", NBER Working Paper No. 19093.
Monetary and Fiscal Policy in Times of Crises
- Hoermann, M., and A. Schabert (2013): „A Monetary Analysis of Balance Sheet Policies”, The Economic Journal, forthcoming, http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12167/pdf.
F., L. Linnemann, and A. Schabert (2013): „Default Risk Premia on
Government Bonds in a Quantitative Macroeconomic Model”, Macroeconomic
C., F. Juessen and A. Schabert (2014): „Revisiting Fiscal Policy at
Zero Policy Rates”, Center for Macroeconomic Research, Working Paper.
K., and A. Schabert (2014): “Interest Rates, Money, and Banks in an
Estimated Euro Area Model”, Center for Macroeconomic Research, Working
F., and Schabert, A. (2013): “Fiscal Policy, Sovereign Default, and
Bailouts “, University of Cologne, Working Paper Series in Economics 67.
J. (2014): “Monetary and Fiscal Policy with Sovereign Default”,
University of Cologne, Working Paper Series in Economics, No. 74.
A. (2014): “Optimal Monetary Policy, Asset Purchases, and Credit Market
Frictions, University of Cologne, ECB Working Paper Series,
Real Effects of a Bank Liquidity Shock on Bank Lending Decisions and Corporate Investments
Strategic Effects of Liquidity Injections, Lender-of-Last Resort Facilities and Monetary Policy responses to Asset Prices
The Macroeconomic Consequences of Sovereign and Private Default Risks
C., L. Kaas and Y. Wen (2014): Self-Fulfilling Credit Cycles,
Working Paper (Earlier version: Federal Reserve Bank of St. Louis
Working Paper 2012-047A).
F. and A. Scholl (2014): A Quantitative Model of Sovereign Debt,
Bailouts and Conditionality, Working Paper (Earlier version: Working
Paper No. 2011-46, Department of Economics, University of Konstanz).
M. (2014): Imperfect Financial Markets and the Cyclicality of Social
Spending, Working Paper No. 2014-11, Department of Economics, University
L., J. Mellert and A. Scholl (2014): Sovereign and Private Default
Risks over the Business Cycle, Working paper, University of Konstanz.
A. (2013): Debt Relief for Poor Countries: Conditionality and
Effectiveness, Working Paper No. 2013-23, Department of Economics,
University of Konstanz.
The Role of the Financial Sector in the Transmission and Prevention of Asset Price Bubbles
The Welfare Effects of Social Security with Individual and Aggregate Risk: A Macroeconomic Analysis
D. and A. Ludwig (2014): Social Security and the Interactions between
Aggregate and Idiosyncratic Risk, Working Paper.
- Geppert, C. (2014): On the Distributional Implications of Demographic Change, Manuscript (Work in Progress).
- Geppert, C. and A. Ludwig (2013a): Risky Human Capital, Aging and the Equity Premium, Manuscript (Work in Progress).
C. and A. Ludwig (2013b): Computing Transitional Dynamics in
Heterogeneous Agent Models with Aggregate Risk by Parameterized Laws of
Motion, Manuscript (Work in Progress).
D. and A. Ludwig (2014): On the Welfare Effects of Social Security in
an Analytically Tractable Overlapping Generations Model with Aggregate
and Idiosyncratic Risk, Manuscript (Work in Progress).
D., A. Ludwig and J. Maus (2014): Is Social Security a Good Thing when
the Correlation of Wages and Returns is Low?, Manuscript (Work in Progress).