Publications of the Research Unit Pensions and Sustainable Financial Markets

• Economic Expectations Mostly Hold Steady at a Low Level
• Eurozone: Economic Expectations Remain Dampened
• USA: Further Reduction in Short-Term Interest Rates Expected
• Japan: Survey Participants Forecast Weaker…

• Economic Sentiment for Central and Eastern Europe Continues to Rise
• Czech Republic, Poland, and Slovakia: Clearly Stronger Stock Markets Expected, More Positive Economic Outlook
• Hungary, Romania, Croatia: Mixed…

• Erwartungen gehen zurück
• EZB: Mehrheit für Zinssenkungen nimmt ab
• USA: Arbeitsmarktbericht verstärkt Konjunktursorgen
• Japan: Schwächeres Wachstum erwartet
• Großbritannien: Immobilienmarkt macht Experten Sorgen
• Sonderf…

For many central banks, overnight money markets are the key channel through which monetary policy is executed. Overnight rates, such as the US federal funds rate, are the operational targets of monetary policy…

• Economic Outlook for Switzerland Continues to Deteriorate
• Eurozone: Survey Participants Continue to Anticipate Interest Rate Cuts
• United States: No brightening up of the Economic Picture Expected
• Japan: Economy…

• Economic Sentiment for Central and Eastern Europe Recovers Considerably
• Very Good Economic Situation in the Czech Republic and Slovakia; Depreciation of Both Currencies Expected
• A Brighter Outlook for the…

• Erwartungen auf Erholungskurs
• EZB: Experten bleiben bei Zinssenkungen
• USA: Hoffen auf die US-Notenbank
• Japan: Konjunkturelle Abschwächung erwartet
• Großbritannien: Inflationssorgen nehmen zu
• Sonderfrage: Outsourcing…

Motivated by substantial cross-sectional variation in banks’ leverage, which stands in contrast to the conventional wisdom that capital regulation is the main driver of banks’ capital structures, this paper…