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Can Germany’s economy stage an unexpected recovery?Steffen MüllerThe Economist, January 30, 2025
We use a quasi-natural experiment to identify the effects of supervision on bank behavior. Under the decentralized structure of U.S. bank supervision, banks in the same geographic area may be supervised by different regulatory offices.
Banks’ limited knowledge about borrowers’ creditworthiness constitutes an important friction in credit markets. Is this friction deeper in recessions, thereby contributing to cyclical swings in credit?
In this paper, we investigate the economic returns to industrial espionage by linking information from East Germany's foreign intelligence service to sector-specific gaps in total factor productivity (TFP) between West and East Germany.
Gesprächspartner von IWH-Präsident Reint E. Gropp ist diesmal der Chef der Europäischen Bankenaufsichtsbehörde (EBA), Andrea Eria. Als Teil des Europäischen Systems der Finanzaufsicht (ESFS) ist es Aufgabe der EBA, ein wirksames und kohärentes Maß an Regulierung und Beaufsichtigung im europäischen Bankensektor zu gewährleisten. Sie soll helfen, die Finanzstabilität in der EU zu wahren und das ordnungsgemäße Funktionierens des Bankensektors zu sichern.
On behalf of the Deutsche Bundesbank, IWH and CEPR, we invite you to attend the conference on the topic of "The Future of Financial Intermediation: Opportunities and Challenges Posed by Regulatory Reforms and New Technologies". The event takes place at the Deutsche Bundesbank's Conference Centre in Eltville near Frankfurt am Main on 9 and 10 November.
This paper explores how bank concentration affects product market competition of non-financial firms. We argue, and provide evidence, that sharing common lenders lowers the cost of debt financing. This is because common lenders internalize potential adverse effects of higher loan rates on the product market behavior of their borrowers’ competitors.
The talk covers an experimental paper as well as a theory paper, both on economic situations where an agent's payoff depends on market interactions between other agents. In the experimental paper, we assess the ability of human agents to predict the quilibrium of such interactions.
The widespread emergence of intangible technologies in recent decades may have significantly hurt output growth-even when these technologies replaced considerably less productive tangible technologies-because of low interest rates.
This paper studies the long-run effects of credit market disruptions on real firm outcomes and how these effects depend on nominal wage rigidities at the firm level.
We provide a comprehensive analysis of the transmission of macroprudential policies aimed at limiting bank risk-taking in residential real estate.
