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We present an analysis of VaR forecasts and P&L-series of all 13 German banks that used internal models for regulatory purposes in the year 2001. To this end, we introduce the notion of well-behaved forecast systems. Furthermore, we provide a series of statistical tools to perform our analyses....
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European companies that are larger than a specific size have had to comply with reporting requirements on non …-financial topics since 2017 under the European Union's Non-Financial Reporting Directive (2014/95/EU), thereby making non …-financial reporting (NFR) mandatory. To the best of the author's knowledge, no study has examined the quality of non-financial reporting …
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This article examines the spread of financialization in Germany before the financial crisis. It provides an up-to date overview on the literature on financialization and reviews which of the phenomena typically associated with financialization have emerged in Germany. In particular, the article...
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This Selected Issues paper analyzes France's fiscal stance using a structural stochastic model. The theoretical model features a forward-looking benevolent government that needs to decide the optimal fiscal stance given the level of public debt, the cyclical position of the economy, and...
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