The rapidly growing literature on the relationship between energy consumption and economic growth has not univocally identified the "real" causal relationship yet. We argue that bivariate models, which analyze the causality at the level of the total economy, are not appropriate - especially in...

Accounting comparability has been the subject of significant interest in empirical financial accounting research. Recent literature, particularly that following De Franco et al.'s (2011) influential study, has focused on utilizing the output of the financial reporting process to measure...

We use a factor model and elastic net shrinkage to model a high-dimensional network of European CDS spreads. Our empirical approach allows us to assess the joint transmission of bank and sovereign risk to the non-financial corporate sector. Our findings identify a sectoral clustering in the CDS...

The UK's Accounting Standards Board and the European Financial Reporting Advisory Group have published a discussion paper entitled ‘Considering the Effects of Accounting Standards'. While the effort to think through potential consequences of proposed regulatory acts in advance is welcome, we...

Infolge des russischen Angriffskriegs auf die Ukraine kam es zu einem starken Anstieg der Energiepreise. Um die Folgen dieser Energiekrise für die Haushalte in Deutschland in der ganzen Breite zu erfassen, führt der Sachverständigenrat für Verbraucherfragen (SVRV) mit dem...

Elementarschäden an Immobilien werden klimabedingt zunehmen, aber noch immer sindin Deutschland nicht alle Wohnimmobilien gegen Elementarschäden versichert. Sie sindaber überall zu tragbaren Prämien versicherbar. Die zentralen Parameter, die es zu regelngilt, sind der Abdeckungsgrad...

This report elucidates the risk channels for EU economies associated with international financial integration and provides an overview of the macroprudential policy options that are available to address these risks.1 It builds on the main insights from the rich academic literature developed...

This report elucidates the risk channels for EU economies associated with international financial integration and provides an overview of the macroprudential policy options that are available to address these risks. It builds on the main insights from the rich academic literature developed...

We use a factor model and elastic net shrinkage to model a high-dimensional network of European CDS spreads. Our empirical approach allows us to assess the joint transmission of bank and sovereign risk to the non-financial corporate sector. Our findings identify a sectoral clustering in the CDS...