Publications of the Research Unit Pensions and Sustainable Financial Markets

• European Banks Under Stress – Crisis Scenario Reveals Huge Capital Shortfalls
• Digitisation in the Electricity Industry Proceeds at Too Slow a Pace
• State Aid for Companies in Financial Straits Realised Desired…

• Goodbye Privacy? – Every Second Free App Has Access to Sensitive Data
• Crowdworking – Currently Only a Marginal Form of Employment in Germany
• Among Businesses, Trademarks See More Use Than Patents for Tax Planning
• …

• New ZEW President Achim Wambach Establishes Research Group "Market Design"
• Childhood Is a Decisive Factor in Income Disparities in the UK and the US
• Still Room for Improvement as EU Fibre-Optic Networks Expand
• Unil…

We examine how the geographical proximity to a microfinance bank affects financial inclusion. We study the expansion of the branch network of ProCredit banks in South-East Europe between 2006 and 2010. We report…

I study credit rationing in small firm-bank relationships by using a unique data set of matched loan applications and contracts. I establish the degree of credit rationing by relating a firm’s requested loan…

Could macroeconomic factors such as income inequality be the real root cause of financial crises? We explore a broad variety of financial and macroeconomic variables and employ a general-to-specific model…