Publications of the Research Unit Pensions and Sustainable Financial Markets

Are borrowers rewarded for repaying their loans? This paper investigates the consequences of covenant violations on subsequent loans to the same borrower using a hand-collected sample of US syndicated loans…

We investigate whether the application of risk weights impairs financial stability. Zero risk weight regulation associated with euro-denominated sovereign debt creates a “sovereign subsidy” for European banks,…

We show that eurozone bank risks during 2007-2013 can be understood as carry trade behavior. Bank equity returns load positively on peripheral (Greece, Italy, Ireland, Portugal, Spain, or GIIPS) bond returns and…

• Economic Outlook: Expectations for Switzerland Back to Zero
• International Financial Market Data - Assessments and Expectations
• Inflation Expectations Remain in Positive Territory
• No Change Expected for Short-Term…

• Rising Concern Over China's Economic Growth
• Higher Public Spending and Lower Interest Rates to Stimulate Economic Growth
• Great Uncertainty About the Further Development of the German Automotive and Automotive…