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Dr Jan-Christopher Scherer

Dr Jan-Christopher Scherer
Current Position

since 10/22

Research Affiliate

Halle Institute for Economic Research (IWH) – Member of the Leibniz Association

since 10/22

Economist

DIW

Research Interests
  • dynamic macroeconomics, especially investment decisions
  • business cycle analysis and forecasting for the USA
  • applied time series econometrics
  • international macroeconomics

Jan-Christopher Scherer joined the institute as a Research Affiliate in October 2022. His research focuses on dynamic macroeconomics, applied time series econometrics, and international macroeconomics.

Jan-Christopher Scherer holds the position of Research Associate of the Macroeconomics Department at DIW.

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Dr Jan-Christopher Scherer
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Working Papers

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Sovereign Stress, Banking Stress, and the Monetary Transmission Mechanism in the Euro Area

Oliver Holtemöller Jan-Christopher Scherer

in: IWH Discussion Papers, No. 3, 2018

Abstract

In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in the level and in the heterogeneity of nonfinancial firms’ refinancing costs in the Euro area during the European debt crisis and how they did affect the monetary transmission mechanism. We identify the increasing effect of government bond yield spreads (sovereign stress) and the share of non-performing loans (banking stress) on firms’ financing costs using an instrumental-variable approach. Moreover, we estimate both sources of stress to have significantly impaired the monetary transmission mechanism during the European debt crisis.

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