Zu wenige institutionelle Anleger sind bereit, in junge und innovative Unternehmen zu investieren. Das hemmt die langfristigen Wachstumsaussichten der deutschen Wirtschaft. Stattdessen halten institutionelle Anleger in Deutschland konservativere Portfolios als ihre europäischen Pendants, da sie...

Zu wenige institutionelle Anleger sind bereit, in junge und innovative Unternehmen zu investieren. Das hemmt die langfristigen Wachstumsaussichten der deutschen Wirtschaft. Stattdessen halten institutionelle Anleger in Deutschland konservativere Portfolios als ihre europäischen Pendants, da sie...

How do banks facilitate creative destruction and shape firm turnover? We develop a dynamic general equilibrium model of bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By restructuring loans to firms with poor prospects and...

We propose a New Keynesian DSGE model of the Eurozone and analyze an asymmetric recession in a vulnerable member state characterized by a trilemma of high public debt, weak banks, and deteriorating competitiveness. We compare macroeconomic adjustment under continued membership with two exit...

How do banks facilitate creative destruction and shape firm turnover? We develop a dynamic general equilibrium model of bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By restructuring loans to firms with poor prospects and...

How do banks facilitate creative destruction and shape firm turnover? We develop a dynamic general equilibrium model of bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By restructuring loans to firms with poor prospects and...