Publications of the Research Unit Pensions and Sustainable Financial Markets

We investigate the transmission of central bank liquidity to bank deposit and loan spreads in Europe over the January 2006 to June 2010 period. We find evidence consistent with an impaired transmission channel…

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…