We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson (2000) shows theoretically that the relationship between these two variables is rather tenuous. The present study employs empirical evidence on the relations in his model to quantify its...

The extensive public support measures for the financial sector were key for the management of the financial crisis. This paper gives a detailed description of the measures taken by governments during the period 2008–2010 and attempts a preliminary assessment of the effectiveness of such...

We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson (2000) shows theoretically that the relationship between these two variables is rather tenuous. The present study employs empirical evidence on the relations in his model to quantify its...

This paper analyzes the effect of the business cycle on the regulatory capital buffers of German local banks in the period 1993-2004. The capital buffers are found to fluctuate countercyclically over the business cycle. The evidence supports that low-capitalized banks do not catch up with their...

In this paper, we investigate the claim that German banks are special compared to banks in other industrialised economies. We show that banks are of particular importance to the German economy - as financial intermediary, as lender to the corporate sector, and as part of the corporate governance...