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  1. The multifaceted impact of US trade policy on financial markets
    Author: Boer, Lukas; Menkhoff, Lukas; Rieth, Malte
    Published: 2021
    Publisher:  DIW Berlin, German Institute for Economic Research, Berlin

    We study the multifaceted effects of trade policy shocks on financial markets using a structural vector autoregression identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock... more

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    We study the multifaceted effects of trade policy shocks on financial markets using a structural vector autoregression identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock prices heterogeneously, but generally negatively. They increase market uncertainty, lower US interest rates, and lead to an appreciation of the US -Dollar. The effects are significant for several weeks or quarters. Decomposing the trade policy shocks further suggests that trade policy uncertainty dominates tariff level effects. Chinese trade policy shocks against the US further hurt US stocks.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/259822
    Edition: This (updated) version: May 2022
    Series: Discussion papers / Deutsches Institut für Wirtschaftsforschung ; 1956
    Subjects: Außenwirtschaftspolitik; Aktienmarkt; Wechselkurs; Zins; Wirkungsanalyse; VAR-Modell; USA; China; Trade policy shock; structural VAR; stock prices; exchange rates; interest rates; heteroskedasticity
    Scope: 1 Online-Ressource (circa 76 Seiten), Illustrationen
  2. Pensionsrückstellungen im Niedrigzinsumfeld
    Author: Hentze, Tobias; Maiworm, Kai
    Published: [2021]
    Publisher:  Stiftung Familienunternehmen, München

    Die Familienunternehmen in Deutschland brauchen andere Rechnungszinsen für die Bildung von Pensionsrückstellungen. Der seit Jahrzehnten geltende Zinssatz von 6 Prozent im Steuerrecht sollte auf ein marktkonformes Niveau gesenkt werden. Für die... more

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    Die Familienunternehmen in Deutschland brauchen andere Rechnungszinsen für die Bildung von Pensionsrückstellungen. Der seit Jahrzehnten geltende Zinssatz von 6 Prozent im Steuerrecht sollte auf ein marktkonformes Niveau gesenkt werden. Für die Handelsbilanz wäre ein fester Zinskorridor empfehlenswert. Das ist das Ergebnis der Studie der Stiftung Familienunternehmen, verfasst vom Institut der deutschen Wirtschaft in Köln (IW).

     
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    Source: Union catalogues
    Language: German
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/250038
    Subjects: Betriebliche Altersversorgung; Zins; Deutschland
    Scope: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  3. Falling interest rates and credit misallocation
    lessons from general equilibrium
    Author: Asriyan, Vladimir; Laeven, Luc; Martin, Alberto; Van der Ghote, Alejandro; Vanasco, Victoria
    Published: [2021]
    Publisher:  Universitat Pompeu Fabra, Department of Economics and Business, Barcelona

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: Updated version: November 2021
    Series: Economics working paper series ; no. 1784
    Subjects: Allgemeines Gleichgewicht; Kapitalbedarf; Zins; Allokation; Kreditmarkt; Wirkungsanalyse; Investitionsentscheidung; Theorie
    Scope: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  4. Estimates of the US shadow-rate
    Author: Alfaro, Rodrigo; Piña, Marco
    Published: [2021]
    Publisher:  Banco Central de Chile, Santiago, Chile

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documentos de trabajo / Banco Central de Chile ; no 923 (septiembre 2021)
    Subjects: Zins; Zinsstruktur; Schätzung; USA
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  5. Das Schuldenmanagement des Bundes
    ein Plädoyer für längere Laufzeiten und eine Reform der Agio- und Disagio-Regeln
    Published: [2021]
    Publisher:  Bundesministerium der Finanzen, Berlin

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    Source: Union catalogues
    Language: German
    Media type: Book
    Format: Online
    Edition: Stand November 2021
    Corporations / Congresses:
    Deutschland, Array (VerfasserIn)
    Series: Gutachten / Wissenschaftlicher Beirat beim Bundesministerium der Finanzen ; 2021, 04
    Subjects: Schuldenmanagement; Öffentliche Anleihe; Dauer; Zins; Kameralistik; Öffentlicher Haushalt; Deutschland
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  6. Interest rates in Switzerland 1852-2020
    Author: Kaufmann, Daniel; Stuart, Rebecca; Tille, Cédric; Hauzenberger, Niko; Huber, Florian
    Published: 2021
    Publisher:  Staatssekretariat für Wirtschaft SECO, Bern

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    Source: Union catalogues
    Language: German
    Media type: Book
    Format: Online
    Series: Array ; Nr. 24
    Subjects: Zins; Realzins; Inflation; Wirtschaftsgeschichte; Schweiz
    Scope: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  7. The impact of an interest rate cut on corporate activities in a low interest rate environment
    = Auswirkungen einer Zinssenkung auf Unternehmensaktivitäten im Niedrigzinsumfeld
    Author: Eufinger, Christian; Gill, Andrej; Girard, Yann; Hett, Florian; Waldenmaier, Tobias
    Published: 2021
    Publisher:  Staatssekretariat für Wirtschaft SECO, Bern

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; Nr. 27
    Subjects: Zins; Wirkungsanalyse; Investition; Unternehmensfinanzierung; Personalbeschaffung; Schweiz
    Scope: 1 Online-Ressource (circa 76 Seiten), Illustrationen
  8. Öffentliche Investitionen und Fiskalregeln im Tiefzinsumfeld
    = Public investment and fiscal rules in a low interest rate environment
    Author: Feld, Lars P.; Bury, Yannick; Weber, Philipp; Zetzmann, Steffen; Schaltegger, Christoph A.; Zell, Laura
    Published: 2021
    Publisher:  Staatssekretariat für Wirtschaft SECO, Bern

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    Source: Union catalogues
    Language: German
    Media type: Book
    Format: Online
    Series: Array ; Nr. 28
    Subjects: Öffentliche Investition; Zins; Finanzpolitik; Länderfinanzen; Gemeindefinanzen; Finanzverfassung; Schweiz
    Scope: 1 Online-Ressource (circa 96 Seiten), Illustrationen
  9. Country risk
    Author: Hassan, Tarek A.; Schreger, Jesse; Schwedeler, Markus; Tahoun, Ahmed
    Published: 2021
    Publisher:  Boston University - Department of Economics, [Boston, MA]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: [IED working papers] ; 359
    Subjects: Länderrisiko; Währungsrisiko; Zins; Investition; Erwerbstätigkeit; Ansteckungseffekt; Wirkungsanalyse; Welt
    Scope: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  10. Micro Risks and Pareto Improving Policies with Low Interest Rates
    Author: Aguiar, Mark; Amador, Manuel; Arellano, Cristina
    Published: 2021
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We provide sufficient conditions for the feasibility of a Pareto-improving fiscal policy when the risk-free interest rate on government bonds is below the growth rate (r < g). We do so in the class of incomplete markets models pioneered by... more

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    We provide sufficient conditions for the feasibility of a Pareto-improving fiscal policy when the risk-free interest rate on government bonds is below the growth rate (r < g). We do so in the class of incomplete markets models pioneered by Bewley-Huggett-Aiyagari, but we allow for an arbitrary amount of ex ante heterogeneity in terms of preferences and income risk. We consider both the case of dynamic inefficiency as well as the more plausible case of dynamic efficiency. The key condition is that seigniorage revenue raised by government bonds exceeds the increase in the interest rate times the initial capital stock. The Pareto improving fiscal policies weakly expand every agent's budget set at every point in time. The policies improve risk sharing and potentially guide the economy to a more efficient level of capital. In simulations, we find that the government must rely on moderate levels of debt issuance along the transition to the new steady state

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: NBER working paper series ; no. w28996
    Subjects: Finanzpolitik; Zins; Pareto-Optimum
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  11. The multifaceted impact of US trade policy on financial markets
    Author: Boer, Lukas; Menkhoff, Lukas; Rieth, Malte
    Published: 2021
    Publisher:  DIW Berlin, German Institute for Economic Research, Berlin

    We study the multifaceted effects and persistence of trade policy shocks on financial markets in a structural vector autoregression. The model is identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US... more

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    DS 14
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    We study the multifaceted effects and persistence of trade policy shocks on financial markets in a structural vector autoregression. The model is identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock prices heterogeneously, but generally negatively, increasing market uncertainty, lowering interest rates, and leading to an appreciation of the US-Dollar. The effects are significant for several weeks or quarters. Regarding shock types, we reveal a dominating trade policy uncertainty shock and a weaker level shock. Chinese trade policy shocks against the US further hurt US stocks.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/235764
    Series: Discussion papers / Deutsches Institut für Wirtschaftsforschung ; 1956
    Subjects: Außenwirtschaftspolitik; Aktienmarkt; Wechselkurs; Zins; Wirkungsanalyse; VAR-Modell; USA; China; Trade policy shock; structural VAR; stock prices; exchange rates; interest rates; heteroskedasticity
    Scope: 1 Online-Ressource (circa 78 Seiten), Illustrationen
  12. Interest cost risks to government budgets
    Author: Clemens, Jason; Palacios, Milagros; Fuss, Jake
    Published: June 2021
    Publisher:  Fraser Institute, [Vancouver, BC]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Fraser research bulletin
    Subjects: Öffentliche Schulden; Zins; Öffentlicher Haushalt; Länderhaushalt; Kanada
    Scope: 1 Online-Ressource (circa 8 Seiten), Illustrationen
  13. Federal and provincial debt-interest costs for Canadians
    Author: Fuss, Jake; Lafleur, Steve
    Published: February 2021
    Publisher:  Fraser Institute, [Vancouver, BC]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Fraser research bulletin
    Subjects: Öffentliche Schulden; Öffentlicher Haushalt; Länderverschuldung; Zins; Teilstaat; Kanada
    Scope: 1 Online-Ressource (circa 10 Seiten), Illustrationen
  14. Sale of national savings certificate
    beneficiaries and interest rate mismatch
    Author: Banerjee, Prashanta K.; Siddique, Md. Mohiuddin; Kayum, Md. Abdul; Mehdee, Tanweer; Amin, Md. Ruhul; Amin, Mohd. Rashedul
    Published: January, 2021
    Publisher:  Bangladesh Institute of Bank Management, Mirpur, Dhaka

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    C 284081
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Research monograph / Bangladesh Institute of Bank Management ; 45
    Subjects: Öffentliche Anleihe; Zins; Sparen; Indien
    Scope: xiii, 39 Seiten, Illustrationen
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    Erscheint auch als Online-Ausgabe
  15. Low for long
    side effects of negative interest rates : study requested by the ECON committee
    Author: Inhoffen, Justus; Pekanov, Atanas; Url, Thomas
    Published: June 2021
    Publisher:  European Parliament, Luxembourg

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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789284681679
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    Series: Monetary dialogue papers ; June 2021
    Subjects: Niedrigzinspolitik; Zins; EU-Staaten
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  16. Ansteckungseffekte während der europäischen Staatsschuldenkrise
    Author: Kokot, Andreas Marcell
    Published: 2021
    Publisher:  Universitäts- und Landesbibliothek der Heinrich-Heine-Universität Düsseldorf, Düsseldorf

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Source: Union catalogues
    Contributor: Smeets, Heinz-Dieter (AkademischeR BetreuerIn); Heimeshoff, Ulrich (AkademischeR BetreuerIn)
    Language: German
    Media type: Dissertation
    Format: Online
    Other identifier:
    Subjects: Schuldenkrise; Eurozone; Ansteckungseffekt; Öffentliche Anleihe; Zins; Risikoprämie; Theorie; Schätzung; Portugal; Irland; Griechenland; Spanien; Schuldenkrise; Eurozone; Ansteckungseffekt; Öffentliche Anleihe; Zins; Risikoprämie; Theorie; Schätzung; Portugal; Irland; Griechenland; Spanien
    Scope: 1 Online-Ressource (circa 507 Seiten), Illustrationen
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    Dissertation, Heinrich-Heine-Universität Düsseldorf, 2021
  17. Tax Policy Design with Low Interest Rates
    Author: Auerbach, Alan J.; Gale, William G.
    Published: 2021
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Interest rates on government debt have fallen in many countries over the last several decades, with markets indicating that rates may stay low well into the future. It is by now well understood that sustained low interest rates can change the nature... more

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    Interest rates on government debt have fallen in many countries over the last several decades, with markets indicating that rates may stay low well into the future. It is by now well understood that sustained low interest rates can change the nature of long-run fiscal policy choices. In this paper, we examine a related issue: the implications of sustained low interest rates for the structure of tax policy. We show that low interest rates (a) reduce the differences between consumption and income taxes; (b) make wealth taxes less efficient relative to capital income taxes, at given rates of tax; (c) reduce the value of firm-level investment incentives, and (d) substantially raise the valuation of benefits of carbon abatement policies relative to their costs

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: NBER working paper series ; no. w29352
    Subjects: Öffentliche Schulden; Zins; Steuerpolitik; Verbrauchsteuer; Einkommensteuer; Vermögensteuer; Investitionspolitik
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  18. Falling Rates and Rising Superstars
    Author: Kroen, Thomas; Liu, Ernest; Mian, Atif; Sufi, Amir
    Published: 2021
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Do low interest rates contribute to the rise in market concentration? Using data on firm financials and high frequency monetary policy shocks, we find that falling interest rates disproportionately benefit industry leaders, especially when the... more

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    Do low interest rates contribute to the rise in market concentration? Using data on firm financials and high frequency monetary policy shocks, we find that falling interest rates disproportionately benefit industry leaders, especially when the initial interest rate is already low. Falling rates raise the valuation of industry leaders relative to industry followers and this effect snowballs as the interest rate approaches zero. There are multiple channels through which falling rates disproportionately benefit industry leaders: (i) the cost of borrowing falls more for industry leaders, (ii) industry leaders are able to raise more debt, increase leverage, and buyback more shares, and (iii) capital investment and acquisitions increase more for industry leaders. All three of these effects also snowball as the interest rate approaches zero. The findings provide empirical support to the idea that extremely low interest rates and the rise of superstar firms are connected

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: NBER working paper series ; no. w29368
    Subjects: Unternehmenskonzentration; Kreditzins; Zins; Unternehmensfinanzierung; Unternehmenserfolg; USA
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  19. Pensionsrückstellungen im Niedrigzinsumfeld
    Published: 2021
    Publisher:  Stiftung Familienunternehmen, München

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    B21-1408
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    Duale Hochschule Baden-Württemberg Villingen-Schwenningen, Bibliothek
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    WK da 30
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    Source: Union catalogues
    Language: German
    Media type: Book
    Format: Print
    ISBN: 9783948850067; 3948850062
    Other identifier:
    9783948850067
    Subjects: Betriebliche Altersversorgung; Zins; Deutschland
    Scope: 46 Seiten, Illustrationen, 29.5 cm x 21 cm
  20. Some international evidence on indebted demand
    Author: Brault, Joshua; Khan, Hashmat
    Published: September 2, 2021
    Publisher:  Carleton University, Department of Economics, Ottawa, Ontario

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 429
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Carleton economics working papers ; CEWP 21, 10
    Subjects: Einkommensverteilung; Private Verschuldung; Zins; Theorie
    Scope: 1 Online-Ressource (circa 11 Seiten), Illustrationen
  21. Forward guidance and household expectations
    Author: Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, Yuriy; Weber, Michael
    Published: [2021]
    Publisher:  [Banca d'Italia], [Rom]

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: This Draft: April 19th, 2021
    Subjects: Forward Guidance; Information; Prognose; Zins; Inflationserwartung; Privater Haushalt; USA; Expectations management; inflation expectations; surveys; communication; randomized controlled trial
    Scope: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  22. FinTech as a Financial Liberator
    Author: Buchak, Greg; Hu, Jiayin; Wei, Shang-jin
    Published: 2021
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    A binding interest rate cap on household savings is a common form of financial repression in developing economies and typically benefits banks. Using proprietary data from a leading Chinese FinTech company, we study Fintech's role in ending financial... more

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    Location:
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
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    Location:
    Universitätsbibliothek Freiburg
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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    A binding interest rate cap on household savings is a common form of financial repression in developing economies and typically benefits banks. Using proprietary data from a leading Chinese FinTech company, we study Fintech's role in ending financial repression in China through the introduction of a money market fund with deposit-like features available through an already widely-adopted household payment platform. Cities and banks whose depositor base is more exposed to FinTech see greater deposit outflows. Importantly, exposed banks respond to FinTech competition by offering competing products with market interest rates. FinTech thus facilitates a bottom-up interest rate liberalization

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: NBER working paper series ; no. w29448
    Subjects: Kreditgeschäft; Bank; Finanztechnologie; Finanzdienstleistung; Kredit; Zins; China
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers
  23. Pensionsrückstellungen im Niedrigzinsumfeld
    Author: Hentze, Tobias; Maiworm, Kai
    Published: [2021]
    Publisher:  Stiftung Familienunternehmen, München

  24. The multifaceted impact of US trade policy on financial markets
    Author: Boer, Lukas; Menkhoff, Lukas; Rieth, Malte
    Published: 2021
    Publisher:  Deutsches Institut für Wirtschaftsforschung (DIW), Berlin

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  25. Grundbausteine einer gerechten Wirtschaftsordnung im Islam
    eine ethisch-exegetische Analyse
    Author: Jäggi, Christian J.
    Published: [2021]
    Publisher:  Frank & Timme, Berlin

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