Policy Publications

Contributions to the Policy Publications Series are either published as "White Papers", "Policy Letters" or "Press Articles". White Papers are comprised of research-based contributions to current policy debates. Policy Letters are short essays or commentaries on current policy topics. Press Articles feature commentary on current economic policy issues made by SAFE scholars in newspapers and periodicals. SAFE Policy Papers represent the authors‘ personal opinions and do not necessarily reflect the views of SAFE or its staff.

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Title	Author/s	Published	Publication Series	Topic Area	Year	Keywords	Author
Beitragsgarantien in der kapitalgedeckten Altersversorgung: Ein Reformvorschlag in Zeiten des Niedrigzinsniveaus White Paper No. 75	Andreas Hackethal, Raimond Maurer	Nov 2020	White Paper	Household Finance	2020	Private Altersvorsorge, Beitragsgarantien, Riester-Rente, Niedrigzinsen	Maurer, Raimond Hackethal, Andreas
Inflation, Inflationsmessung und Zentralbankpolitik Policy Letter No. 89	Eren Gürer, Alfons J. Weichenrieder	Nov 2020	Policy Letter	Macro Finance	2020	Inflation, Zentralbankpolitik, Inflationsmessung, Geldpolitik, EZB	Gürer, Eren Weichenrieder, Alfons J.
What are the wider supervisory implications of the Wirecard case? White Paper No. 74	Jan Pieter Krahnen, Katja Langenbucher, Christian Leuz, Loriana Pelizzon	Nov 2020	White Paper	Financial Markets	2020	Wirecard, Supervisory Achitecture, Auditing, Internal Controls, Market Oversight , Investor Protection, Market Integrity	Krahnen, Jan Pieter Leuz, Christian Langenbucher, Katja Pelizzon, Loriana
Plug the gap: Make resolution ready for corona White Paper No. 73	Thomas Huertas	Nov 2020	White Paper	Law and Finance	2020	Resolution, Covid-19, Banking Crisis	Huertas, Thomas
Beyond Moral Hazard Arguments: The Role of National Deposit Insurance Schemes for Member States’ Preferences on EDIS White Paper No. 72	Matthias Thiemann, Mario Tümmler	Aug 2020	White Paper	Financial Intermediation	2020	Banking Union, Deposit Insurance, EDIS	Tümmler, Mario Thiemann, Matthias
Der Verlustrücktrag als Mittel der Konjunkturpolitik – Ausweitung des Verlustrücktrags auch auf die Gewerbesteuer erforderlich White Paper No. 71	Philipp Lamprecht, Alfons J. Weichenrieder	Jul 2020	White Paper	Law and Finance	2020	Verlustrücktrag, Corona-Steuerhilfegesetz, Gewerbesteuer, Konjunkturpolitik	Lamprecht, Philipp Weichenrieder, Alfons J.
The Wirecard lessons: A reform proposal for the supervision of securities markets in Europe Policy Letter No. 88	Jan Pieter Krahnen, Katja Langenbucher	Jul 2020	Policy Letter	Financial Markets	2020	Wirecard, securities markets, market supervision	Krahnen, Jan Pieter Langenbucher, Katja
Bank capital and the European recovery from the COVID-19 crisis White Paper No. 69	Moritz Schularick, Sascha Steffen, Tobias Tröger	Jun 2020	White Paper	Law and Finance, Macro Finance	2020	bank capital, financial stablity, COVID-19	Tröger, Tobias Schularick, Moritz Steffen, Sascha
Erkenntnisse aus sechs Wellen des Haushaltsbarometers: Sind "Konsumschecks" das richtige Mittel in der Corona-Krise? Policy Letter No. 87	Calogero Brancatelli, Andreas Hackethal, Roman Inderst, Sebastian Schuler	Jun 2020	Policy Letter	Household Finance	2020	Helicoptergeld, Haushaltskrisenbarometer, Mehrwertsteuersenkung, Kinderbonus	Schuler, Sebastian Brancatelli, Calogero Hackethal, Andreas Inderst, Roman
Pandemic Insurance through Pandemic Partnership Bonds: A Fully Funded Insurance Solution in a Public Private Partnership Policy Letter No. 86	Helmut Gründl, Fabian Regele	May 2020	Policy Letter	Financial Markets	2020	Covid-19-Crisis, catastrophe bond, public private partnership, pandemic insurance	Regele, Fabian Gründl, Helmut
Encompassing monetary policy strategy review White Paper No. 68	Otmar Issing	Jun 2020	White Paper		2020	monetary policy, ECB, price stability, two-pillar system, strategy review	Issing, Otmar
Priorities for the CMU agenda Policy Letter No. 85	Jan Pieter Krahnen, Loriana Pelizzon	May 2020	Policy Letter	Financial Markets	2020	CMU, High-Level-Forum, Interim Report	Krahnen, Jan Pieter Pelizzon, Loriana
Corona and Financial Stability 4.0: Implementing a European Pandemic Equity Fund Policy Letter No. 84	Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Marti Subrahmanyam	Apr 2020	Policy Letter	Financial Markets	2020	Coronavirus, Risk sharing, Financial stability, Policy measures in the EU, Equity fund	Krahnen, Jan Pieter Kotz, Hans-Helmut Boot, Arnoud Pelizzon, Loriana Subrahmanyam, Marti Carletti, Elena
Corona-Bonds und ihre Alternativen Policy Letter No. 83	Marcel Thum, Alfons J. Weichenrieder	Apr 2020	Policy Letter	Macro Finance	2020	Corona Bonds, Corona-Krise, Transferzahlungen	Thum, Marcel Weichenrieder, Alfons J.
The Case for Corona Bonds Policy Letter No. 82	Matej Avbelj, Antonia Baraggia, Jürgen Bast, Bojan Bugarič, Emanuel Castellarin, Francesco Costamagna, Anuscheh Faraha, Matthias Goldmann, Anna-Katharina Mangold, Mario Savino, Alexander Thiele, Annamaria Viterbo	Apr 2020	Policy Letter	Law and Finance	2020	Corona Bonds, Coronavirus	Avbelj, Matej Viterbo, Annamaria Bast, Jürgen Goldmann, Matthias Savino, Mario Baraggia, Antonia Mangold, Anna-Katharina Castellarin, Emanuel Faraha, Anuscheh Thiele, Alexander Costamagna, Francesco Bugarič, Bojan
Emerging Evidence of a Silver Lining: A Ridge Walk to Avoid an Economic Catastrophe in Italy and Spain White Paper No. 67	Christopher Busch, Alexander Ludwig, Raül Santaeulàlia-Llopis	Apr 2020	White Paper	Macro Finance	2020	Coronavirus, pandemic economics, lockdown costs	Santaeulàlia-Llopis, Raül Ludwig, Alexander Busch, Christopher
Corona and Financial Stability 3.0: Try equity -risk sharing for companies, large and small Policy Letter No. 81	Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Marti Subrahmanyam	Mar 2020	Policy Letter	Financial Markets	2020	Coronavirus, Financial stability, Risk sharing, Policy measures in the EU	Krahnen, Jan Pieter Kotz, Hans-Helmut Boot, Arnoud Pelizzon, Loriana Subrahmanyam, Marti Carletti, Elena
Capital in the Corona Crisis Policy Letter No. 80	Leo Kaas	Mar 2020	Policy Letter	Macro Finance	2020	corona crisis, capital liquidations, emergency loans	Kaas, Leo
Corona and Financial Stability 2.0: Act jointly now, but also think about tomorrow Policy Letter No. 79	Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Marti Subrahmanyam	Mar 2020	Policy Letter	Financial Markets	2020	coronavirus, financial stability, systemic risk, strategies	Krahnen, Jan Pieter Kotz, Hans-Helmut Boot, Arnoud Pelizzon, Loriana Subrahmanyam, Marti Carletti, Elena
Zur Reform der Einlagensicherung: Elemente einer anreizkompatiblen Europäischen Rückversicherung White Paper No. 66	Klaus Adam, Thiess Büttner, Joachim Hennrichs, Jan Pieter Krahnen, Jörg Rocholl	Mar 2020	White Paper	Financial Markets	2020	Einlagensicherung, EDIS, Bankenunion	Rocholl, Jörg Hennrichs, Joachim Krahnen, Jan Pieter Büttner, Thiess Adam, Klaus
The Coronavirus and Financial Stability Policy Letter No. 78	Arnoud Boot, Elena Carletti, Rainer Haselmann, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon, Stephen Schaefer, Marti Subrahmanyam	Mar 2020	Policy Letter	Financial Markets	2020	coronavirus, financial stability, banking, strategies	Krahnen, Jan Pieter Kotz, Hans-Helmut Boot, Arnoud Haselmann, Rainer Schaefer, Stephen Pelizzon, Loriana Subrahmanyam, Marti Carletti, Elena
Time to address the shortcomings of the banking union Policy Letter No. 77	Ignazio Angeloni	Jan 2020	Policy Letter		2020	ECB, Banking Union, Cross-border Banking, Banking Supervision, Banking Resolution	Angeloni, Ignazio
What are the main factors for the subdued profitability of significant banks in the Banking Union, and is the ECB’s supervisory response conclusive and exhaustive? White Paper No. 65	Tatiana Farina, Jan Pieter Krahnen, Loriana Pelizzon, Mark Wahrenburg	Dec 2019	White Paper	Financial Markets	2019	Bank Profitability, Supervisory Guidance, Banking Union, Financial regulation	Krahnen, Jan Pieter Wahrenburg, Mark Farina, Tatiana Pelizzon, Loriana
What is Libra? Understanding Facebook´s Currency Policy Letter No. 76	Maik Schmeling	Sep 2019	Policy Letter	Financial Markets	2019	Libra, cryptocurrency, currency board	Schmeling, Maik
Completing Banking Union White Paper No. 63	Thomas Huertas	Sep 2019	White Paper	Financial Intermediation	2019	Banking Union, EDIS, EDIC	Huertas, Thomas
Fiscal-Financial Vulnerabilities White Paper No. 62	Ludger Schuknecht	Aug 2019	White Paper	Macro Finance	2019	fiscal financial vulnerabilities, fiscal variables, public finance	Schuknecht, Ludger
Deutsche Bank and its Strategy Change: What it Means for the German Financial System Policy Letter No. 75	Reinhard H. Schmidt	Jul 2019	Policy Letter	Financial Intermediation	2019	German financial system, corporate governance, German banks	Schmidt, Reinhard H.
Der Neo-Fisher-Effekt: Die historische Alternative zur Nullzinspolitik Policy Letter No. 74	Bertram Schefold	Jul 2019	Policy Letter	Macro Finance	2019	Inflation, Geldpolitik, Europäische Zentralbank, Zinsen	Schefold, Bertram
On the Change of the German Financial System White Paper No. 61	Reinhard H. Schmidt	Jul 2019	White Paper	Financial Intermediation	2019	German financial system, corporate governance, German banks	Schmidt, Reinhard H.
Diversity in Finance:An Overview White Paper No. 60	Reinhard H. Schmidt	Jun 2019	White Paper	Financial Intermediation	2019	diversity, finance, banking systems, financial systems	Schmidt, Reinhard H.
An open banking platform for Germany - a future-oriented alternative to a merger of Deutsche Bank / Commerzbank Policy Letter No. 73	Volker Brühl, Jan Pieter Krahnen	May 2019	Policy Letter	Financial Intermediation	2019	Open Banking Platform Germany, Banking Union, Merger, Deutsche Bank, Commerzbank	Krahnen, Jan Pieter Brühl, Volker
The Next SSM Term: Supervisory Challenges Ahead White Paper No. 59	Martin Götz, Tobias Tröger, Mark Wahrenburg	Mar 2019	White Paper	Financial Intermediation	2019	SSM, Banking Union, ECB supervision	Götz, Martin Tröger, Tobias Wahrenburg, Mark
Evaluierung gesamt- und finanzwirtschaftlicher Effekte der Reformen europäischer Finanzmarktregulierung im deutschen Finanzsektor seit der Finanzkrise Policy Report No.2	Rainer Haselmann, Jan Pieter Krahnen, Mark Wahrenburg	Mar 2019	Policy Report	Financial Intermediation	2019	Regulierung, Banken, Kreditinstitute	Krahnen, Jan Pieter Haselmann, Rainer Wahrenburg, Mark
Eine Open Banking Plattform für Deutschland – eine zukunftsorientierte Alternative zu einer Fusion Deutsche Bank/Commerzbank Policy Letter No. 72	Volker Brühl, Jan Pieter Krahnen	Mar 2019	Policy Letter	Financial Intermediation	2019	Open Banking Platform Germany, Bankenunion, Fusion, Deutsche Bank, Commerzbank	Brühl, Volker Krahnen, Jan Pieter
Target Balances and Financial Crises Policy Letter No. 71	Jan Pieter Krahnen	Jan 2019	Policy Letter	Financial Markets	2019	Target 2, payment system, central banks, Eurosystem	Krahnen, Jan Pieter
Grunderwerbsteuer: Eine Steuer für das 21. Jahrhundert? White Paper No. 58	Kunka Petkova, Alfons J. Weichenrieder	Jan 2019	White Paper	Macro Finance	2019	Grunderwerbsteuer, Reformvorschläge, Freibetrag, Steuergestaltung, Share Deals	Petkova, Kunka Weichenrieder, Alfons J.
Wie viel Rente wirst du bekommen? – Pilotstudie zur Einführung einer Renteninformationsplattform in Deutschland White Paper No. 57	Tabea Bucher-Koenen, Andreas Hackethal, Johannes Kasinger, Christine Laudenbach	Oct 2018	White Paper	Household Finance	2018	Rente, Rententransparenz, individuelle Altersvorsorge, Pensions Dashboard, Digitalisierung, Fin Tech	Hackethal, Andreas Bucher-Koenen, Tabea Kasinger, Johannes Laudenbach, Christine
Über Scheinriesen: Was TARGET-Salden tatsächlich bedeuten Eine finanzökonomische Überprüfung White Paper No. 56	Jan Pieter Krahnen	Aug 2018	White Paper	Financial Markets	2018	TARGET-Salden, TARGET2, europäischer Zahlungsverkehr, Zentralbankensystem, Eurosystem	Krahnen, Jan Pieter
Measuring Time Inconsistency Using Financial Transaction Data White Paper No. 55	Andrej Gill, Florian Hett, Johannes Tischer	Jul 2018	White Paper	Household Finance,	2018	financial transaction data, financial decision-making, time inconsistency, present bias	Gill, Andrej Tischer, Johannes Hett, Florian
How demanding and consistent is the 2018 stress test design in comparison to previous exercises? White Paper No. 54	Rainer Haselmann, Mark Wahrenburg	Jun 2018	White Paper	Financial Intermediation	2018	stress test, European banks, Banking union	Haselmann, Rainer Wahrenburg, Mark
A New Governance Architecture for European Financial Markets? Towards a European Supervision of CCPs White Paper No. 53	Jan Friedrich, Matthias Thiemann	Jun 2018	White Paper	Financial Intermediation	2018	Central Counterparties, European Supervisory Architecture, Capital Markets Union, regulatory arbitrage, EMIR, supervisory arbitrage, Brexit	Thiemann, Matthias Friedrich, Jan
Stabiles Geld – eine Illusion? Alternative Währungssysteme – Hayeks Fundamentalkritik – Unabhängigkeit der Notenbanken White Paper No. 52	Otmar Issing	Jun 2018	White Paper	Macro Finance	2018	Geldpolitik, Zentralbanken, Unabhängigkeit, Währungswettbewerb, Kryptowährungen, Hayek	Issing, Otmar
If you do it, do it right – The need for a Common European Supervisory Architecture for CCPs Policy Letter No. 70	Jan Friedrich, Christian Resch, Matthias Thiemann	May 2018	Policy Letter	Financial Intermediation	2018	Central Counterparties, European Supervisory Architecture, Capital Markets Union, regulatory arbitrage, EMIR, supervisory arbitrage	Thiemann, Matthias Resch, Christian Friedrich, Jan
Why the Initial Regulation of Financial Innovations is Decisive − Regulatory Arbitrage and Off-Balance-Sheet Leasing in Germany Policy Letter No. 69	Jan Friedrich, Matthias Thiemann	May 2018	Policy Letter	Financial Markets	2018	financial innovations, regulation, regulatory arbitrage, leasing	Thiemann, Matthias Friedrich, Jan
Governing Cryptocurrencies through Forward Guidance? Policy Letter No. 68	Matthias Goldmann, Grygoriy Pustovit	Mar 2018	Policy Letter	Financial Markets	2018	cryptocurrencies, blockchain, distributed ledger technology, regulation, forward guidance	Goldmann, Matthias Pustovit, Grygoriy
Financial Stability in the EU: A Case for Micro Data Transparency Policy Letter No. 67	Johannes Kasinger, Loriana Pelizzon	Feb 2018	Policy Letter	Financial Markets,	2018	micro data transparency, financial stability, financial market data	Kasinger, Johannes Pelizzon, Loriana
Passt das deutsche Dreisäulensystem in eine zunehmend harmonisierte Bankenstruktur für Europa? Policy Letter No. 65	Reinhard H. Schmidt	Feb 2018	Policy Letter	Financial Intermediation	2018	Drei-Säulen-System, Bankensektor, Finanzkrise	Schmidt, Reinhard H.
Deutschland und Europa Policy Letter No. 66	Otmar Issing	Feb 2018	Policy Letter	Macro Finance	2018	Europäische Währungsunion, Fiskalunion, ESM, Europäischer Währungsfonds	Issing, Otmar
Digitalization and Taxation: Beware Ad hoc Measures Policy Letter No. 64	Alfons J. Weichenrieder	Jan 2018	Policy Letter	Macro Finance	2018	Digitalization, taxation	Weichenrieder, Alfons J.
Monetary Policy and Prudential Supervision – From Functional Separation to a Holistic Approach? Policy Letter No. 63	Matthias Goldmann	Jan 2018	Policy Letter	Macro Finance	2018	Monetary policy, financial stability, financial supervision	Goldmann, Matthias
Five Years after the Liikanen Report: What Have We Learned? White Paper No. 50	Martin Götz, Jan Pieter Krahnen, Tobias Tröger	Dec 2017	White Paper	Financial Intermediation	2017	Financial stability, banking separation, prohibition of proprietary trading, banking and treasury functions, bail-in, MREL, TLAC	Tröger, Tobias Krahnen, Jan Pieter Götz, Martin
Systemic Risk in Insurance: Towards a new Approach Policy Letter No. 62	Elia Berdin, Matteo Sottocornola	Dec 2017	Policy Letter	Financial Markets	2017	systemic risk, macroprudential franework, insurance, financial stability	Sottocornola, Matteo Berdin, Elia
Provisioning Policies for Non-Performing Loans: How to Best Ensure a "Clean Balance Sheet"? White Paper No. 51	Mark Wahrenburg	Nov 2017	White Paper	Financial Intermediation	2017	IFRS 9, provisioning rules, EU banks	Wahrenburg, Mark
Reformpläne bei der Grunderwerbsteuer Policy Letter No. 61	Kunka Petkova, Alfons J. Weichenrieder	Nov 2017	Policy Letter	Macro Finance	2017	Grunderwerbsteuer, Reformvorschläge, Freibetrag, Steuergestaltung, Share Deals	Petkova, Kunka Weichenrieder, Alfons J.
The Recalibration of the European System of Financial Supervision in Regard of the Insurance Sector: From Dreary to Dreamy or Vice Versa? Policy Letter No. 60	Jens Gal, Helmut Gründl	Nov 2017	Policy Letter	Financial Intermediation, Household Finance	2017	European Insurance Union, European Supervisory Authorities, EIOPA, European Insurance and Occupational Pensions Authority, Insurance Supervision	Gal, Jens Gründl, Helmut
Undermined Market Discipline: The Role of Bank Rescues and Bailout Expectations Policy Letter No. 59	Florian Hett, Johannes Kasinger	Sep 2017	Policy Letter	Financial Intermediation,	2017	bailout, market discipline, financial institutions, financial crisis, banks	Kasinger, Johannes Hett, Florian
EU Mapping 2017: Systematic Overview on Economic and Financial Legislation White Paper No. 49	Katja Langenbucher, Lara Milione, Andreas Roth, Tobias Tröger	Jul 2017	White Paper	Law and Finance	2017	EU economic and financial services legislation	Roth, Andreas Tröger, Tobias Milione, Lara Langenbucher, Katja
Corporate Governance of Banks – A German Alternative to the “Standard Model” White Paper No. 45	Hans-Helmut Kotz, Reinhard H. Schmidt	Aug 2017	White Paper	Financial Intermediation	2017	corporate governance, German banks, German banking system	Kotz, Hans-Helmut Schmidt, Reinhard H.
Microfinance – Once and Today White Paper No. 48	Reinhard H. Schmidt	Aug 2017	White Paper	Financial Intermediation	2017	Microfinance, German savings banks, German cooperative banks, Inclusive Finance	Schmidt, Reinhard H.
Karlsruhe Refers the QE Case to Luxembourg: Summer of Love Policy Letter No. 58	Matthias Goldmann	Aug 2017	Policy Letter	Macro Finance	2017	ECB, Quantitative Easing, OMT, Monetary Policy, ECJ, BVerfG	Goldmann, Matthias
Incentivizing Older People to Delay Social Security Claiming Policy Letter No. 57	Raimond Maurer, Olivia S. Mitchell	Jul 2017	Policy Letter	Household Finance	2017	pensions, German retirement system, social security claiming	Maurer, Raimond Mitchell, Olivia S.
How Not To Do Banking Law in the 21st Century Policy Letter No. 56	Tobias Tröger	Jun 2017	Policy Letter	Financial Intermediation	2017	Banking Union, ECB, EGC, Landeskreditbank Baden-Württemberg, NCAs, SSM	Tröger, Tobias
Fines for Misconduct in the Banking Sector – What is the Situation in the EU? White Paper No. 47	Martin Götz, Tobias Tröger	Mar 2017	White Paper	Financial Intermediation	2017	financial stability, banking supervision, banking regulation, bank sanctions, monetary penalties	Tröger, Tobias Götz, Martin
Financial Resilience Revisited: Why Consistency in Regulation is now Paramount – Across Sectors and Regions, and Over Time Policy Letter No. 55	Franklin Allen, Jan Pieter Krahnen, Hélène Rey	Mar 2017	Policy Letter	Financial Intermediation, Financial Markets	2017	financial resilience, financial markets regulation, banking regulation	Krahnen, Jan Pieter Rey, Hélène Allen, Franklin
Financial resilience revisited: Why consistency in regulation is now paramount - across sectors and regions, and over time Policy Report No. 1	Franklin Allen, Jan Pieter Krahnen, Hélène Rey	Feb 2017	Policy Report		2017	financial resilience, free trade, global regulatory standards	Allen, Franklin Krahnen, Jan Pieter Rey, Hélène
Taking Bail-in Seriously - The Looming Risks for Banking Policy in the Rescue of Monte dei Paschi di Siena Policy Letter No. 54	Martin Götz, Jan Pieter Krahnen, Tobias Tröger	Feb 2017	Policy Letter	Financial Intermediation	2017	BRRD, banking resolution, banking supervision, SRM, financial stability, systemic risk	Tröger, Tobias Krahnen, Jan Pieter Götz, Martin
Skin-in-the-Game in ABS Transactions: A Critical Review of Policy Options White Paper No. 46	Jan Pieter Krahnen, Christian Wilde	Dec 2017	White Paper	Financial Markets	2017	Structured finance, ABS, STS (simple, transparent, and standardized securitizations), regulation, retention, Dodd-Frank Act	Wilde, Christian Krahnen, Jan Pieter
SME Funding Without Banks? On the Interplay of Banks and Markets White Paper No. 44	Günter Franke, Jan Pieter Krahnen	Jan 2017	White Paper	Financial Intermediation, Financial Markets	2017	SME, funding, capital markets, lending instruments, banks	Krahnen, Jan Pieter Franke, Günter
Banks' Internal Rating Models - Time for a Change? The System of Floors as Proposed by the Basel Committee White Paper No. 43	Rainer Haselmann, Mark Wahrenburg	Nov 2016	White Paper	Financial Intermediation	2016	Internal rating models, floors, banking regulation, BCBS	Wahrenburg, Mark Haselmann, Rainer
Central Banks – From Overburdening to Decline? White Paper No. 42	Otmar Issing	Oct 2016	White Paper	Macro Finance	2016	Central Banking, ECB, Monetary Policy	Issing, Otmar
"Predatory" Margins and the Regulation and Supervision of Central Counterparty Clearing Houses (CCPs) White Paper No. 41	Jan Pieter Krahnen, Loriana Pelizzon	Sep 2016	White Paper	Financial Markets,	2016	central counterparties, CCP, derivatives, financial market regulation, financial market supervision	Krahnen, Jan Pieter Pelizzon, Loriana
Das Deutsche Rentensystem: Thesen zur derzeitigen Diskussion um „Umkehr“-Reformen White Paper No. 40	Alexander Ludwig	Sep 2016	White Paper	Household Finance	2016	German pension system, reform, retirement age	Ludwig, Alexander
Fair Retail Banking: How to Prevent Mis-Selling by Banks White Paper No. 39	Günter Franke, Thomas Mosk, Eberhard Schnebel	Jul 2016	White Paper	Law and Finance	2016	Retail Banking, Mis-selling, MiFID II	Mosk, Thomas Schnebel, Eberhard Franke, Günter
Kurzkommentar zum Volksentscheid im Vereinigten Königreich am 23. Juni 2016 Policy Letter No. 53	Helmut Siekmann	Jun 2016	Policy Letter	Macro Finance	2016	Brexit, Europäische Union, Vereinigtes Königreich	Siekmann, Helmut
Panama & Co: Implikationen für die Steuerpolitik Policy Letter No. 52	Alfons J. Weichenrieder	Jun 2016	Policy Letter	Macro Finance	2016	Steuerhinterziehung, Steuervermeidung, Steueroasen, Briefkastenfirmen, Panama Papers	Weichenrieder, Alfons J.
Demographischer Wandel: Kapitalrenditen, Löhne und Verteilungswirkungen White Paper No. 38	Alexander Ludwig	May 2016	White Paper	Macro Finance	2016	Demographischer Wandel, Migration, säkulare Stagnation, Kapitalrenditen, Ungleichheit	Ludwig, Alexander
Euro Area Shadow Banking Activities in a Low-Interest-Rate Environment: A Flow-of-Funds Perspective White Paper No. 37	Günter Beck, Hans-Helmut Kotz	Apr 2016	White Paper	Financial Intermediation, Macro Finance	2016	Non-bank financial intermediation, shadow banking, financial stability, systemic risk, financial regulation, low interest rate environment	Beck, Günter Kotz, Hans-Helmut
Lost in Translation? ECB’s Monetary Impulses and Financial Intermediaries’ Responses White Paper No. 36	Günter Beck, Hans-Helmut Kotz, Natalia Zabelina	Apr 2016	White Paper	Financial Intermediation, Macro Finance	2016	Non-bank financial intermediation, interest-rate channel, credit channel, risk-taking channel of monetary policy, market-based financial intermediation, monetary transmission mechanism, waterbed effect	Zabelina, Natalia Beck, Günter Kotz, Hans-Helmut
Mere criticism of the ECB is no solution Policy Letter No. 51	Marcel Fratzscher, Reint Gropp, Hans-Helmut Kotz, Jan Pieter Krahnen, Christian Odendahl, Beatrice Weder di Mauro, Guntram B. Wolff	Apr 2016	Policy Letter	Macro Finance	2016	eurozone, crisis, monetary policy	Krahnen, Jan Pieter Wolff, Guntram B. Weder di Mauro, Beatrice Gropp, Reint Kotz, Hans-Helmut Odendahl, Christian Fratzscher, Marcel
Should the Marketing of Subordinated Debt be Restricted/Different in One Way or the Other? What to do in the Case of Mis-selling? White Paper No. 35	Martin Götz, Tobias Tröger	Mar 2016	White Paper	Financial Intermediation	2016	Bail-in, BRRD, subordinated debt, EU market regulation	Tröger, Tobias Götz, Martin
The German Equity Trading Landscape White Paper No. 34	Peter Gomber	Feb 2016	White Paper	Financial Markets	2016	MiFID II, MiFIR, equity trading, electronic trading, cash equity markets	Gomber, Peter
Structural Reforms in Banking: The Role of Trading White Paper No. 33	Jan Pieter Krahnen, Felix Noth, Ulrich Schüwer	Nov 2016	White Paper	Financial Intermediation, Financial Markets	2016	proprietary trading, banking separation proposals, bank risk	Krahnen, Jan Pieter Noth, Felix Schüwer, Ulrich
The German Banking System: Characteristics and Challenges White Paper No. 32	Patrick Behr, Reinhard H. Schmidt	Dec 2015	White Paper	Financial Intermediation	2015	banks, government, regulation	Behr, Patrick Schmidt, Reinhard H.
Fragmentation in the European Retail Deposit Market and Implications for Loan Availability in European Member States White Paper No. 31	Bijan Kaffenberger, Mark Wahrenburg	Nov 2015	White Paper	Household Finance	2015	household finance, deposits, European market fragmentation	Wahrenburg, Mark Kaffenberger, Bijan
The Potential Effect of Offering Lump Sums as Retirement Payments Policy Letter No. 50	Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana Schimetschek	Nov 2015	Policy Letter	Household Finance	2015	Social Security solvency, Pension system	Schimetschek, Tatjana Maurer, Raimond Rogalla, Ralph Mitchell, Olivia S.
Impairments of Greek Government Bonds under IAS 39 and IFRS 9: A Case Study White Paper No. 30	Günther Gebhardt	Nov 2015	White Paper	Financial Markets	2015	government bonds, IFRS 9, credit losses	Gebhardt, Günther
Solvency II ante portas: Nutzen und Risiken der neuen Versicherungsregulierung Policy Letter No. 49	Helmut Gründl	Nov 2015	Policy Letter	Financial Intermediation	2015	Versicherungen, Regulierung	Gründl, Helmut
Solvency II at the Gates: Benefits and Risks of the New Insurance Regulation Policy Letter No. 48	Helmut Gründl	Nov 2015	Policy Letter	Financial Intermediation	2015	Insurance, Regulation	Gründl, Helmut
Greece: Threatening Recovery Policy Letter No. 37	Alfons J. Weichenrieder	Feb 2015	Policy Letter	Macro Finance	2015	Financial Assistance, Conditionality	Weichenrieder, Alfons J.
Stellungnahme zu den DCGK-Änderungs-Vorschlägen der Regierungs-Kommission Deutscher Corporate Governance Kodex Policy Letter No. 38	Hans-Joachim Böcking, Marius Gros, Daniel Worret	Apr 2015	Policy Letter	Law and Finance	2015	Deutscher Corporate Governance Kodex, Professionalisierung der Aufsichtsratstätigkeit, Financial Expert, Prüfungsausschuss, Aufsichtsratsvergütung	Worret, Daniel Böcking, Hans-Joachim Gros, Marius
The Legal Framework for the European System of Central Banks White Paper No. 26	Helmut Siekmann	Apr 2015	White Paper	Macro Finance	2015	economic and monetary union, euro, monetary policy, economic policy	Siekmann, Helmut
Stellungnahme zu den Plänen einer Erbschaftsteuerreform Policy Letter No. 39	Alfons J. Weichenrieder	May 2015	Policy Letter	Macro Finance	2015	Steuerpolitik, Erbschaftsteuer, Schenkungsteuer	Weichenrieder, Alfons J.
Comments on the EU Commission’s Capital Markets Union Project White Paper No. 27	Volker Brühl, Helmut Gründl, Andreas Hackethal, Hans-Helmut Kotz, Jan Pieter Krahnen, Tobias Tröger	May 2015	White Paper	Financial Markets	2015	Capital Markets Union, functional finance approach, level playing field, financial services	Tröger, Tobias Krahnen, Jan Pieter Brühl, Volker Kotz, Hans-Helmut Gründl, Helmut Hackethal, Andreas
Negative Zinsen auf Einlagen – Juristische Hindernisse und ihre wettbewerbspolitischen Auswirkungen Policy Letter No. 40	Tobias Tröger	Jun 2015	Policy Letter	Law and Finance	2015	Niedrigzinsumfeld, Einlageverträge, negativer Zins	Tröger, Tobias
Drei Thesen zur Griechenlandkrise Policy Letter No. 41	Jan Pieter Krahnen	Jul 2015	Policy Letter	Macro Finance	2015	Währungsunion, Fiskalunion, Politische Union	Krahnen, Jan Pieter
Three Theses on the Greek Crisis Policy Letter No. 42	Jan Pieter Krahnen	Jul 2015	Policy Letter	Macro Finance	2015	Monetary Union, Fiscal Union, Political Union	Krahnen, Jan Pieter
Escalating Crisis in the Eurozone: The Case for Conditional Debt Relief for Greece Policy Letter No. 43	Reinhard H. Schmidt	Jun 2015	Policy Letter	Macro Finance	2015	Greek crisis, structural reforms, debt sustainability	Schmidt, Reinhard H.
Ein ESM Programm ist nicht zu rechtfertigen Policy Letter No. 44	Alfons J. Weichenrieder	Jul 2015	Policy Letter	Macro Finance	2015	Vertrag über die Arbeitsweise der EU (AEUV), ESM, Währungsunion	Weichenrieder, Alfons J.
Towards a Fiscal Union? On the Acceptability of a Fiscal Transfer System in the Eurozone White Paper No. 28	Shafik Hebous, Alfons J. Weichenrieder	Jul 2015	White Paper	Macro Finance	2015	EMU, Eurozone, European unemployment insurance, fiscal transfers	Hebous, Shafik Weichenrieder, Alfons J.
The Effects of Contingent Convertible (CoCo) Bonds on Insurers' Capital Requirements under Solvency II Policy Letter No. 45	Helmut Gründl, Tobias Niedrig	Aug 2015	Policy Letter	Financial Intermediation	2015	Life insurance companies, Coco bonds, Solvency II	Niedrig, Tobias Gründl, Helmut
Euro Area Macro-Financial Stability: A Flow-of-Funds Perspective White Paper No. 29	Günter Beck, Hans-Helmut Kotz, Natalia Zabelina	Sep 2015	White Paper	Financial Intermediation, Macro Finance	2015	Bank and non-bank financial intermediation, shadow banking, financial stability, systemic risk, financial regulation	Zabelina, Natalia Beck, Günter Kotz, Hans-Helmut
Did Emergency Liquidity Assistance (ELA) of the ECB Delay the Bankruptcy of Greek Banks? Policy Letter No. 46	Martin Götz, Rainer Haselmann, Jan Pieter Krahnen, Sascha Steffen	Sep 2015	Policy Letter	Financial Intermediation, Macro Finance	2015	emergency liquidity assistance (ELA), economic and monetary union, banking supervision, Greece	Krahnen, Jan Pieter Götz, Martin Haselmann, Rainer Steffen, Sascha
Waren die ELA-Notkredite der EZB für griechische Banken eine Konkursverschleppung? Policy Letter No. 47	Martin Götz, Rainer Haselmann, Jan Pieter Krahnen, Sascha Steffen	Sep 2015	Policy Letter	Financial Intermediation, Macro Finance	2015	emergency liquidity assistance (ELA), Währungsunion, Bankenaufsicht, Griechenland	Krahnen, Jan Pieter Götz, Martin Haselmann, Rainer Steffen, Sascha
Zur Offenlegung der Bezüge von Sparkassenführungskräften im Internet White Paper No. 12	Helmut Siekmann	Feb 2014	White Paper	Law and Finance	2014	Bezüge im Bankensektor, Transparenz, Corporate Governance	Siekmann, Helmut
Lessons from the Implementation of the Volcker Rule for Banking Structural Reform in the European Union White Paper No. 13	Douglas J. Elliott, Christian Rauch	Apr 2014	White Paper	Financial Intermediation	2014	banking separation proposals, proprietary trading ban, Dodd-Frank Act	Rauch, Christian Elliott, Douglas J.
How Important Are Hedge Funds in a Crisis? Policy Letter No. 23	Reint Gropp	Apr 2014	Policy Letter	Financial Intermediation	2014	systemic risk analysis, statistical risk measurement, spillover effects	Gropp, Reint
Frontiers of Sustainable Finance in Europe: The Social Impact Bond Policy Letter No. 24	Ester Faia	May 2014	Policy Letter	Financial Intermediation	2014	social impact bonds, risk premia, incentives for investment	Faia, Ester
The Fiscal Crisis as a Crisis in Trust Policy Letter No. 25	Michael Haliassos	May 2014	Policy Letter	Household Finance	2014	fiscal crisis, household liquidity, economic reforms, Greece	Haliassos, Michael
MiFID: Eine systematische Analyse der Zielerreichung White Paper No. 14	Peter Gomber, Benedikt Thomas Jaeger	May 2014	White Paper	Financial Markets	2014	MiFID, Wettbewerb, Integration, Transparenz, Integrität	Jaeger, Benedikt Thomas Gomber, Peter
Europa und die Instabilität des Rechts Press Article, 2014	Helmut Siekmann	May 2014	Press Article	Macro Finance	2014	Europarecht, Rechtsdurchsetzung, EZB	Siekmann, Helmut
Family Status, Social Security Claiming Options, and Life Cycle Portfolios Policy Letter No. 26	Andreas Hubener, Raimond Maurer, Olivia S. Mitchell	May 2014	Policy Letter	Household Finance	2014	life-cycle models, household savings, investment decisions	Hubener, Andreas Maurer, Raimond Mitchell, Olivia S.
Curtailing Capture through the European Banking Union: A Note of Caution Policy Letter No. 27	Cornelia Woll	Jun 2014	Policy Letter	Financial Intermediation	2014	public-private relations, capture, collective action, social relations	Woll, Cornelia
Im Schatten der Lowflation Policy Letter No. 28	Alfons J. Weichenrieder	Jun 2014	Policy Letter	Macro Finance	2014	Deflation, Zentralbanken, Quantitative Lockerung	Weichenrieder, Alfons J.
Monetary Policy and Balance Sheet Adjustment White Paper No. 15	Otmar Issing	Jun 2014	White Paper	Macro Finance	2014	recession, monetary policy, balance sheet adjustment	Issing, Otmar
Forward Guidance: A New Challenge for Central Banks White Paper No. 16	Otmar Issing	Jun 2014	White Paper	Macro Finance	2014	central bank communication, monetary policy, forward guidance	Issing, Otmar
Den Ruhestand optimal finanzieren Press Article, 2014	Raimond Maurer	Jun 2014	Press Article	Household Finance	2014	Alterssicherung, USA, Deutschland	Maurer, Raimond
Der makroprudenzielle Komplex: der Prozess, das Schloss, das Urteil White Paper No. 17	Hermann Remsperger	Jun 2014	White Paper	Macro Finance	2014	makroprudenzielle Regulierung, Finanzstabilität, Europäische Zentralbank	Remsperger, Hermann
EU Mapping: Systematic Overview on Economic and Financial Legislation White Paper No. 18	Marcel Gellings, Kai Jungbluth, Katja Langenbucher	May 2014	White Paper	Law and Finance	2014	EU economic and financial services legislation	Gellings, Marcel Langenbucher, Katja Jungbluth, Kai
Anlegerschutz braucht mehr Eigenverantwortung Press Article, 2014	Andreas Hackethal, Thomas Schäfer	Jul 2014	Press Article	Household Finance	2014	Anlegerschutz, Bankberatung, Finanzbildung	Hackethal, Andreas Schäfer, Thomas
Taxes, Banks and Financial Stability White Paper No. 6	Reint Gropp	Aug 2013	White Paper	Financial Intermediation	2013	taxes, financial institutions, tax incidence, financial stability, tax revenues, bank incentives	Gropp, Reint
Stellungnahme zum Entwurf eines Gesetzes zur Absicherung stabiler und fairer Leistungen für Lebensversicherte Policy Letter No. 29	Helmut Gründl	Jun 2014	Policy Letter	Financial Intermediation	2014	Lebensversicherungen, Solvency II, Bewertungsreserven, Niedrigzinsphase	Gründl, Helmut
On the European Commission’s Proposal for a Structural Reform of Banking Press Article, 2014	Jan Pieter Krahnen	Jan 2014	Press Article	Financial Intermediation	2014	proprietary trading, banking separation proposals, Liikanen Commission	Krahnen, Jan Pieter
Effective Resolution of Banks: Problems and Solutions White Paper No. 19	Günter Franke, Jan Pieter Krahnen, Thomas von Lüpke	Sep 2014	White Paper	Financial Intermediation	2014	Bank Recovery and Resolution Directive (BRRD), Single Resolution Mechanism (SRM), Bail-in	Krahnen, Jan Pieter von Lüpke, Thomas Franke, Günter
Neuordnung der Finanzmärkte in Europa durch MiFID II/MiFIR White Paper No. 20	Peter Gomber, Frank Nassauer	Sep 2014	White Paper	Financial Markets	2014	MiFID II, MiFIR, Derivatehandel, Hochfrequenzhandel	Gomber, Peter Nassauer, Frank
National Strategic Framework for Research and Innovation 2014 - 2020 White Paper No. 21	Michael Haliassos	Sep 2014	White Paper	Macro Finance	2014	Greece, growth, innovation	Haliassos, Michael
Keine Institutionenkonkurrenz auf nationaler Ebene schaffen: das „doppelte AIDA“-Modell Policy Letter No. 30	Jan Pieter Krahnen	Oct 2014	Policy Letter	Macro Finance	2014	Bankenaufsicht, Bankenabwicklung, Bundesbank, Bafin	Krahnen, Jan Pieter
Stellungnahme zum Entwurf eines Gesetzes zur Umsetzung der Richtlinie 2014/59/EU (BRRD-Umsetzungsgesetz) Policy Letter No. 31	Martin Götz	Oct 2014	Policy Letter	Financial Intermediation	2014	Bankenabwicklung, Restrukturierung, Bail-in, SoFFin	Götz, Martin
What Do We Know about the Tax Planning of German-Based Multinational Firms? White Paper No. 22	Shafik Hebous, Alfons J. Weichenrieder	Oct 2014	White Paper	Macro Finance	2014	taxation, foreign direct investment, multinational firms	Hebous, Shafik Weichenrieder, Alfons J.
Making Sense of the Comprehensive Assessment Policy Letter No. 32	Viral Acharya, Sascha Steffen	Oct 2014	Policy Letter	Financial Intermediation	2014	Asset Quality Review, Single Supervisy Mechanism, European Central Bankor	Acharya, Viral Steffen, Sascha
Robustness, Validity, and Significance of the ECB’s Asset Quality Review and Stress Test Exercise White Paper No. 23	Sascha Steffen	Nov 2014	White Paper	Financial Intermediation	2014	Stress Test, Comprehensive Assessment, Asset Quality Review, European Central Bank, European Banking Authority, Single Supervisory Mechanism	Steffen, Sascha
Resolution Threats and Bank Discipline – What Europe Can Learn for the Single Resolution Mechanism from U.S. Experience Policy Letter No. 33	Magdalena Ignatowski, Josef Korte	Nov 2014	Policy Letter	Financial Intermediation	2014	risk-taking, bank resolution regimes, USA, Europe	Korte, Josef Ignatowski, Magdalena
What Does U.S. Money Market Mutual Fund Reform Portend for the European Union? White Paper No. 24	Craig Lewis, Christian Schlag	Oct 2014	White Paper	Financial Markets	2014	money market funds, liquidity runs, floating net asset value (FNAV)	Schlag, Christian Lewis, Craig
The Fiscal Compact and Government Debt: One Law, Multiple Statistics Policy Letter No. 22	Iñaki Aldasoro, Ester Faia	Mar 2014	Policy Letter	Macro Finance	2014	government debt, statistics, Fiscal Compact	Aldasoro, Iñaki Faia, Ester
Bail-In jetzt richtig umsetzen Policy Letter No. 34	Jan Pieter Krahnen	Nov 2014	Policy Letter	Financial Intermediation	2014	total loss absorbing capacity (TLAC), nachrangiges Fremdkapital, too big to fail, bail-in	Krahnen, Jan Pieter
Implementing Bail-In Properly Policy Letter No. 35	Jan Pieter Krahnen	Nov 2014	Policy Letter	Financial Intermediation	2014	total loss absorbing capacity (TLAC), too big to fail, bail-in	Krahnen, Jan Pieter
PPPs: Umgehung von Defizitregeln oder höhere Effizienz im Staatssektor? Policy Letter No. 36	Alfons J. Weichenrieder	Nov 2014	Policy Letter	Macro Finance	2014	Schuldenbremse, Defizitregeln, Private Public Partnership (PPP)	Weichenrieder, Alfons J.
Austerity and Growth – Concepts for Europe SAFE Policy Letter Collection No. 1, 2015	Alfons J. Weichenrieder	Feb 2015	Policy Letter	Macro Finance	2015	Fiscal Consolidation, Sovereign Debt, Growth	Weichenrieder, Alfons J.
The Regulation of Repo Markets: Incorporating Public Interest through a Stronger Role of Civil Society White Paper No. 25	Matthias Thiemann	Feb 2015	White Paper	Financial Markets	2015	Repo Markets, Shadow Banking, Non-governmental Organizations	Thiemann, Matthias
Die letzte Waffe - Helicopter Money? Press Article, 2015	Otmar Issing	Feb 2015	Press Article	Macro Finance	2015	Quantitative Easing, European Central Bank, Geldpolitik	Issing, Otmar
Zwei Makrooekonomen gewinnen den Nobelpreis Policy Letter No. 04, 2012	Volker Wieland, Maik Wolters	Feb 2012	Policy Letter	Macro Finance	2012	makroökonomische Konjunkturforschung, vektorautoregressive Modelle, monetäre Makroökonomik	Wolters, Maik Wieland, Volker
Macroeconomic Model Comparisons and Forecast Competition Policy Letter No. 03, 2012	Volker Wieland, Maik Wolters	Feb 2012	Policy Letter	Macro Finance	2012	macroeconomic models, financial models, forecasting	Wolters, Maik Wieland, Volker
Schlechte Erfahrungen Policy Letter No. 02, 2012	Helmut Siekmann, Volker Wieland	Feb 2012	Policy Letter	Financial Intermediation	2012	Finanztransaktionssteuer, Bankenaufsicht	Siekmann, Helmut Wieland, Volker
Constitutional Ruling on Court of Auditors’ Review of Banks Policy Letter No. 01, 2012	Helmut Siekmann, Patrick Tuschl	Feb 2012	Policy Letter	Law and Finance	2012	fiscal responsibility, control by Court of Auditors	Tuschl, Patrick Siekmann, Helmut
Stellungnahme zum Gesetzentwurf der Bundesregierung: Finanzkonglomerate-Aufsichtsgesetz Policy Letter No. 7	Helmut Gründl	Apr 2013	Policy Letter	Financial Intermediation	2013	Finanzkonglomerate; Eigenmittelanforderungen; Aufsichtsbehörde; BaFin; Bundesbank	Gründl, Helmut
What Happened in Cyprus Policy Letter No. 6	Athanasios Orphanides	Apr 2013	Policy Letter	Macro Finance	2013	financial crisis, troika, Cyprus	Orphanides, Athanasios
Stellungnahme zu aktuellen Formulierungsvorschlägen für Änderungen am Deutschen Corporate Governance Kodex Policy Letter No. 5	Hans-Joachim Böcking, Marius Gros, Daniel Worret	Mar 2013	Policy Letter	Law and Finance	2013	Deutscher Corporate Governance Kodex, Financial Expert, Prüfungsausschuss, Vorstandsvergütung, Aufsichtsratsvergütung	Worret, Daniel Böcking, Hans-Joachim Gros, Marius
Managementvergütung im Bankensektor Policy Letter No. 4	Jan Pieter Krahnen, Thomas Mayer	Feb 2013	Policy Letter	Law and Finance	2013	Boni, Bail-in Anleihen, Liikanen-Kommission	Krahnen, Jan Pieter Mayer, Thomas
Kommentierung des “Entwurf eines Gesetzes zur Abschirmung von Risiken und zur Planung der Sanierung and Abwicklung von Kreditinstituten und Finanzgruppen” Policy Letter No. 3	Andreas Hackethal, Jan Pieter Krahnen	Feb 2013	Policy Letter	Financial Intermediation	2013	Handelsgeschäft, Einlagengeschäft, Risiko	Krahnen, Jan Pieter Hackethal, Andreas
Beteiligung der Versicherungsnehmer an den Bewertungsreserven in der Lebensversicherung Policy Letter No. 2	Helmut Gründl	Feb 2013	Policy Letter	Financial Intermediation	2013	Lebensversicherungen, Garantiezins, Bewertungsreserven	Gründl, Helmut
Salary Cuts and Competitiveness Policy Letter No. 1	Michael Haliassos	Jan 2013	Policy Letter	Macro Finance	2013	Greek economic crisis, productivity, structural reforms	Haliassos, Michael
Die gerichtliche Kontrolle von Beschlüssen der Gläubigerversammlung White Paper No. 7, 2008	Theodor Baums	Sep 2008	White Paper	Law and Finance	2008	Gläubigerversammlung	Baums, Theodor
Zur monistischen Verfassung der deutschen Aktiengesellschaft. Überlegungen de lege ferenda White Paper No. 6, 2008	Theodor Baums	Jul 2008	White Paper	Law and Finance	2008	Corporate Governance, Unternehmensverfassung	Baums, Theodor
Zur Anfechtung von Hauptversammlungsbeschlüssen - rechtspolitische Vorschläge White Paper No. 5, 2008	Theodor Baums, Florian Drinhausen	May 2008	White Paper	Law and Finance	2008	Anfechtungsklage	Baums, Theodor Drinhausen, Florian
Ensuring Financial Stability: Financial Structure and the Impact of Monetary Policy and Asset Prices White Paper No. 4, 2008	Katrin Assenmacher-Wesche, Stefan Gerlach	Mar 2008	White Paper	Macro Finance	2008	asset prices, monetary policy, panel VAR	Assenmacher-Wesche, Katrin Gerlach, Stefan
Stellungnahme zum Referentenentwurf "Risikobegrenzungsgesetz" White Paper No. 2, 2008	Jan Pieter Krahnen	Feb 2008	White Paper	Law and Finance	2008	Corporate Governance, Finanzinnovationen	Krahnen, Jan Pieter
Europäische Modellgesetze im Gesellschaftsrecht White Paper No. 1, 2008	Theodor Baums	Jan 2008	White Paper	Law and Finance	2008	Modellgesellschaftsgesetze	Baums, Theodor
Zur Deregulierung des Depotstimmrechts White Paper No. 2, 2007	Theodor Baums	Sep 2007	White Paper	Law and Finance	2007	Depotstimmrecht	Baums, Theodor
The Law of Corporate Finance in Europe - an Essay White Paper No. 1, 2007	Theodor Baums	Jun 2007	White Paper	Law and Finance	2007	corporate finance	Baums, Theodor
Die Auswirkungen von Regulierung auf Bankverhalten und Wettbewerb Policy Letter No. 12	Jan Pieter Krahnen, Theodor Weimer	Jun 2013	Policy Letter	Financial Intermediation	2013	Bail-in Anleihen, Banken, Regulierung, Liikanen-Kommission	Krahnen, Jan Pieter Weimer, Theodor
Mindfully Resisting the Bandwagon – IT Implementation and Its Consequences in the Financial Crisis Policy Letter No. 10	Roman Beck, Wolfgang König, Immanuel Pahlke, Martin Wolf	May 2013	Policy Letter	Financial Markets	2013	IT innovations, financial services	König, Wolfgang Wolf, Martin Beck, Roman Pahlke, Immanuel
Own Risk and Solvency Assessment Within the Solvency II Framework and its Interplay with the Quantitative Solvency Capital Requirements Policy Letter No. 11	Jens Gal, Helmut Gründl	May 2013	Policy Letter	Financial Intermediation	2013	Insurance, Solvency II, Own Risk and Solvency Assessment	Gal, Jens Gründl, Helmut
The European Central Bank’s Outright Monetary Transactions and the Federal Constitutional Court of Germany White Paper No. 4	Helmut Siekmann, Volker Wieland	Jun 2013	White Paper	Macro Finance	2013	ECB, OMT, monetary policy, fiscal policy	Siekmann, Helmut Wieland, Volker
Savings Banks and Cooperative Banks in Europe White Paper No. 5	Dilek Bülbül, Reinhard H. Schmidt, Ulrich Schüwer	Aug 2013	White Paper	Financial Intermediation	2013	national systems of local banks, bank competition, performance indicators	Bülbül, Dilek Schmidt, Reinhard H. Schüwer, Ulrich
Gesprächsreihe zu Strukturreformen im europäischen Bankensektor: Wiederherstellung privater Haftung und die zukünftige Rolle der Aufsicht Policy Letter No. 13	Elke König	Sep 2013	Policy Letter	Financial Intermediation	2013	Bail-in Anleihen, Banken, Aufsicht, Liikanen-Kommission	König, Elke
Challenges for Monetary Policy White Paper No. 7	Otmar Issing	Sep 2013	White Paper	Macro Finance	2013	ECB, OMT, central banking	Issing, Otmar
Rettung durch Regulierung? Eckpunkte des Liikanen-Berichts White Paper No. 8	Jan Pieter Krahnen	Oct 2013	White Paper	Financial Intermediation	2013	Liikanen-Kommission, Bail-in, Trennbanken, Bankenunion	Krahnen, Jan Pieter
Der einheitliche Abwicklungsmechanismus – Europäisches Allheilmittel oder weiße Salbe? Policy Letter No. 14	Tobias Tröger	Sep 2013	Policy Letter	Financial Intermediation	2013	Bankenunion, SRM, Abwicklungsinstrumente, Bail-in	Tröger, Tobias
Commentary on ESMA Guidelines on Enforcement of Financial Information Policy Letter No. 15	Hans-Joachim Böcking, Marius Gros, Daniel Worret	Oct 2013	Policy Letter	Law and Finance	2013	Enforcement, ESMA, financial reporting quality, restatements	Worret, Daniel Böcking, Hans-Joachim Gros, Marius
Rescue by Regulation? Key Points of the Liikanen Report White Paper No. 9	Jan Pieter Krahnen	Oct 2013	White Paper	Financial Intermediation	2013	Liikanen Commission, Bail-in, Banking Separation, Banking Union	Krahnen, Jan Pieter
Designing the Funding Side of the Single Resolution Mechanism (SRM): A Proposal for a Layered Scheme with Limited joint Liability White Paper No. 10	Jan Pieter Krahnen	Dec 2013	White Paper	Financial Intermediation	2013	Banking Union, Single Resolution Mechanism	Krahnen, Jan Pieter
A Big Bang for Banking in Europe Policy Letter No. 16	Jan Pieter Krahnen	Dec 2013	Policy Letter	Financial Intermediation	2013	comprehensive assessment, banking supervision, euro area	Krahnen, Jan Pieter
Securities Transaction Tax in France: Impact on Market Quality and Inter-Market Price Coordination White Paper No. 11	Peter Gomber, Martin Haferkorn, Kai Zimmermann	Jan 2014	White Paper	Financial Intermediation	2014	financial transaction tax, market fragmentation, speculative trading, market quality	Zimmermann, Kai Haferkorn, Martin Gomber, Peter
Finanzmärkte: Mut zu radikaler Ordnungspolitik Policy Letter No. 17	Jan Pieter Krahnen	Dec 2013	Policy Letter	Financial Intermediation	2013	Finanzkrise, Bankenunion, Regulierung, Ordnungspolitik	Krahnen, Jan Pieter
Surveillance of peer to peer payment systems and peer to peer lending platforms Policy Letter No. 18	Ester Faia	Feb 2014	Policy Letter	Financial Intermediation	2014	financial innovation, peer to peer payment systems, Bitcoin, regulation	Faia, Ester
Politically Acceptable Debt Restructuring in the Euro Zone: Is it Really Better than the Redemption Fund? Policy Letter No. 19	Ester Faia	Feb 2014	Policy Letter	Macro Finance	2014	public debt, debt restructuring	Faia, Ester
Energiewende, Butterberge und das Kiwi-in-Grönland-Problem Policy Letter No. 20	Alfons J. Weichenrieder	Feb 2014	Policy Letter	Macro Finance	2014	Erneuerbare-Energien-Gesetz, Energiewende, Steuergelder	Weichenrieder, Alfons J.
Transcript of a Hearing before Members of the House of Lords (UK) in Frankfurt on Genuine Economic and Monetary Union and its Implication for the UK Policy Letter No. 21	Otmar Issing, Jan Pieter Krahnen	Mar 2014	Policy Letter	Macro Finance	2014	Monetary Union, European Central Bank, Outright Monetary Transactions, UK	Krahnen, Jan Pieter Issing, Otmar
Recommendations by the Issing Commission – Memo for the G-20 November 2011 Summit in Cannes White Paper No. 04, 2012	Otmar Issing, Jan Pieter Krahnen, Klaus Regling, William White	Feb 2012	White Paper	Financial Intermediation	2012	shadow banking, systemic risk analysis, regulatory arbitrage	Regling, Klaus Krahnen, Jan Pieter White, William Issing, Otmar
High-Frequency-Trading: Zwischen Nutzeffekten und Risiken Press Article No. 8, 2011	Peter Gomber	Sep 2011	Press Article	Financial Markets	2011	Wertpapiermärkte, High Frequency Trading, Regulierung	Gomber, Peter
Stellungnahme zum Entwurf eines Zweiten Gesetzes zur Umsetzung eines Maßnahmenpakets zur Stabilisierung des Finanzmarktes White Paper No. 03, 2012	Helmut Siekmann	Feb 2012	White Paper	Financial Intermediation	2012	Finanzmarktrecht, BaFin, FMSA	Siekmann, Helmut
Ein Plädoyer für Banken-Vielfalt Press Article No. 5, 2011	Reinhard H. Schmidt	May 2011	Press Article	Financial Intermediation	2011	Drei-Säulen-System, Bankensektor, Finanzkrise	Schmidt, Reinhard H.
Das Prinzip der Selbstbindung Press Article No. 3, 2011	Alfons J. Weichenrieder	Mar 2011	Press Article	Macro Finance	2011	Schuldenbremse, Haushaltspolitik, Staatsverschuldung	Weichenrieder, Alfons J.
Next Hike End of 2014: FOMC Matches Historical Responses to Member’s Forecasts and Risks Repeating Earlier Mistakes White Paper No. 02, 2012	Volker Wieland	Feb 2012	White Paper	Macro Finance	2012	federal funds rate, interest rates, inflation forecasts	Wieland, Volker
Europas Staaten brauchen Stresstests Press Article No. 2, 2011	Stefan Gerlach	Feb 2011	Press Article	Macro Finance	2011	Stabilitäts- und Wachstumspakt, Fiskalpolitik	Gerlach, Stefan
Neues Schuldverschreibungsrecht und Altanleihen White Paper No. 01, 2012	Theodor Baums, Roland Schmidtbleicher	Jan 2012	White Paper	Law and Finance	2012	Collective Action Clauses, Anleihen, Umstrukturierung	Baums, Theodor Schmidtbleicher, Roland
Notenbanker müssen zunehmend Finanzmarkterfahrung haben Press Article No. 1, 2011	Stefan Gerlach	Jan 2011	Press Article	Macro Finance	2011	Ernennungspraxis von Zentralbankern, Finanzfachkenntnis, moderne Notenbanker	Gerlach, Stefan
Das Grünbuch der EU-Kommission „Weiteres Vorgehen im Bereich der Abschlussprüfung: Lehren aus der Krise“ – Eine Auswertung der Stellungnahmen des Konsultationsprozesses White Paper No. 12, 2011	Hans-Joachim Böcking, Marius Gros, Christoph Wallek, Daniel Worret	Nov 2011	White Paper	Law and Finance	2011	Abschlussprüfung, Finanzkrise, EU Grünbuch, Konsultationsprozess	Wallek, Christoph Worret, Daniel Böcking, Hans-Joachim Gros, Marius
Ein staatliches Hospital für kranke Banken Press Article No. 2, 2010	Günter Franke, Jan Pieter Krahnen	Feb 2010	Press Article	Financial Intermediation	2010	Systemisches Risiko, Bankenhospital	Krahnen, Jan Pieter Franke, Günter
Dem Druck standhalten Press Article No. 3, 2009	Volker Wieland	Jul 2009	Press Article	Macro Finance	2009	Geldpolitik, EZB	Wieland, Volker
Analysis of the EU Consultation on the Green Paper “Audit Policy: Lessons from the Crisis” White Paper No. 11, 2011	Hans-Joachim Böcking, Marius Gros, Christoph Wallek, Daniel Worret	Nov 2011	White Paper	Law and Finance	2011	Audit Policy, Financial Crisis, EU Green Paper, Consultation Process	Wallek, Christoph Worret, Daniel Böcking, Hans-Joachim Gros, Marius
Can Monetary Policy Really be Used to Stabilise Asset Prices? Policy Letter No. 1, 2008	Stefan Gerlach	Mar 2008	Policy Letter	Macro Finance	2008	monetary policy, asset prices	Gerlach, Stefan
Eurozone Stimulus: A Myth, Some Facts, and Estimates Policy Letter No. 2, 2009	Volker Wieland	Sep 2009	Policy Letter	Macro Finance	2009	fiscal stimulus packages	Wieland, Volker
Anfechtungsklagen und Freigabeverfahren. Eine empirische Studie White Paper No. 10, 2011	Theodor Baums, Florian Drinhausen, Astrid Keinath	Nov 2011	White Paper	Law and Finance	2011	Aktionärsrechte, Berufskläger, Anlegerschutz	Baums, Theodor Keinath, Astrid Drinhausen, Florian
"Neue" Regeln für die Notenbanken? Policy Letter No. 1, 2009	Volker Wieland	May 2009	Policy Letter	Macro Finance	2009	Geldpolitik, Taylor-Regel	Wieland, Volker
Law and Economics of the Monetary Union White Paper No. 9, 2011	Helmut Siekmann	Sep 2011	White Paper	Macro Finance	2011	Euro, sovereign debt crisis, legal foundations	Siekmann, Helmut
Das neue System der Europäischen Finanzmarktaufsicht White Paper No. 8, 2011	Helmut Siekmann	Sep 2011	White Paper	Financial Intermediation	2011	Regulierung, Finanzaufsicht, Systemrisiken	Siekmann, Helmut
Eurobonds zur Bewältigung der europäischen Krise? Wegweisung zu einer modernen Entwicklungsunion White Paper No. 7, 2011	Hans-Helmut Kotz, Jan Pieter Krahnen, Christian Leuz, Helmut Siekmann	Sep 2011	White Paper	Macro Finance	2011	Eurobonds, Staatsschuldenkrise, Europäische Union	Krahnen, Jan Pieter Leuz, Christian Kotz, Hans-Helmut Siekmann, Helmut
Comment on the European Commission's Green Paper "Audit Policy: Lessons from the Crisis" Policy Letter No. 16, 2010	Hans-Joachim Böcking, Marius Gros	Dec 2010	Policy Letter	Law and Finance	2010	audit quality, expectation gap, regulation	Böcking, Hans-Joachim Gros, Marius
On a Fundamental Reorganisation of the Landesbanks and Savings Banks Sector in Germany White Paper No. 2, 2011	Heinz Hilgert, Jan Pieter Krahnen, Günther Merl, Helmut Siekmann	Mar 2011	White Paper	Financial Intermediation	2011	Landesbanks and savings banks sector; public law financial system	Merl, Günther Hilgert, Heinz Krahnen, Jan Pieter Siekmann, Helmut
Strengthening the Institutional Underpinnings of the Euro Policy Letter No. 14, 2010	Stefan Gerlach	Oct 2010	Policy Letter	Macro Finance	2010	Stability and Growth Pact, fiscal policy, public debt	Gerlach, Stefan
Unternehmen und Ethik Policy Letter No. 13, 2010	Theodor Baums	Oct 2010	Policy Letter	Law and Finance	2010	Rechtsnormen, ethische Normen, Wirtschaftsverfassung	Baums, Theodor
Streitschrift für eine grundlegende Neuordnung des Sparkassen- und Landesbankensektors in Deutschland White Paper No. 1, 2011	Heinz Hilgert, Jan Pieter Krahnen, Günther Merl, Helmut Siekmann	Feb 2011	White Paper	Financial Intermediation	2011	Sparkassen- und Landesbankensektor, öffentlich rechtlicher Finanzsektor	Merl, Günther Hilgert, Heinz Krahnen, Jan Pieter Siekmann, Helmut
Basel III: Unvollendet, aber nicht allein Policy Letter No. 12, 2010	Hermann Remsperger	Oct 2010	Policy Letter	Financial Intermediation	2010	Basel III, Eigenkapital, Finanzkrise, Insolvenzordnung	Remsperger, Hermann
Inflation Targeting Matters in Asia Policy Letter No. 11, 2010	Stefan Gerlach, Peter Tillmann	Oct 2010	Policy Letter	Macro Finance	2010	inflation targeting	Tillmann, Peter Gerlach, Stefan
Inflation Targeting: In Asien besonders erfolgreich Policy Letter No. 10, 2010	Stefan Gerlach, Peter Tillmann	Oct 2010	Policy Letter	Macro Finance	2010	inflation targeting	Tillmann, Peter Gerlach, Stefan
Makroprudentielle Politik zur Stabilisierung der Finanzmärkte Policy Letter No. 9, 2010	Stefan Gerlach	Aug 2010	Policy Letter	Macro Finance	2010	makroprudentielle Instrumente, Regulierung	Gerlach, Stefan
Liquidity Management and the Reform of the International Monetary System White Paper No. 4, 2011	Volker Wieland	May 2011	White Paper	Macro Finance	2011	international monetary system, reserve currencies, liquidity	Wieland, Volker
High Frequency Trading White Paper No. 3, 2011	Björn Arndt, Peter Gomber, Marco Lutat, Tim Uhle	Apr 2011	White Paper	Financial Markets	2011	algorithmic trading, high-frequency trading, regulation	Lutat, Marco Arndt, Björn Gomber, Peter Uhle, Tim
Report of the Reflection Group on the Future of EU Company Law White Paper No. 5, 2011	Theodor Baums	May 2011	White Paper	Law and Finance	2011	EU-harmonization, corporate governance, regulation, cross-border mobility	Baums, Theodor
Getting Greece Back on Track: How? White Paper No. 6, 2011	Michael Haliassos, Dimitri Vayanos	Jun 2011	White Paper	Macro Finance	2011	financial crisis, structural reforms, productivity	Vayanos, Dimitri Haliassos, Michael
A Credible Stability and Growth Pact: Raising the Bar for Budgetary Transparency Policy Letter No. 5, 2010	Stefan Gerlach	Jan 2010	Policy Letter	Macro Finance	2010	public debt, ECB	Gerlach, Stefan
How to be a good European... Policy Letter No. 4, 2010	Volker Wieland	May 2010	Policy Letter	Macro Finance	2010	Schuldenkrise	Wieland, Volker
G20 and Macroprudential Policy Policy Letter No. 3, 2010	Stefan Gerlach	Apr 2010	Policy Letter	Macro Finance	2010	At the upcoming G20 meetings the issue what can be done to avoid a repetition of the current deep financial crisis will again be debated. Much attention and criticism will be directed to central banks. That is unavoidable: central banks must never again p	Gerlach, Stefan
EU Economic Governance White Paper No. 26, 2010	Stefan Gerlach	Dec 2010	White Paper	Macro Finance	2010	Stability and Growth Pact, Excessive Imbalance Procedure, national fiscal frameworks	Gerlach, Stefan
The Fiscal Stimulus Debate "Bone-Headed" and "Neanderthal"? Policy Letter No. 3, 2009	Volker Wieland	Mar 2009	Policy Letter	Macro Finance	2009	fiscal policy, new Keynesian macroeconomic models	Wieland, Volker
Zur Stärkung der Deutschen Bundesbank Policy Letter No. 1, 2010	Stefan Gerlach, Emilie Yoo	Mar 2010	Policy Letter	Macro Finance	2010	Die zum Ende April 2010 frei werdenden zwei Vorstandsposten in der Deutschen Bundesbank haben bereits Anfang des Jahres eine lebhafte Debatte über mögliche Kandidaten ausgelöst. Die Diskussion über eine weitaus wesentlichere Frage, nämlich welche fachlich	Yoo, Emilie Gerlach, Stefan
Competition Among Electronic Markets and Market Quality White Paper No. 25, 2010	Peter Gomber, Markus Gsell, Marco Lutat	Dec 2010	White Paper	Financial Markets	2010	MiFID, market fragmentation,liquidity	Lutat, Marco Gomber, Peter Gsell, Markus
Low Balling, Creeping In und deutsches Übernahmerecht White Paper No. 24, 2010	Theodor Baums	Nov 2010	White Paper	Law and Finance	2010	feindliche Übernahme, Hauptversammlungsmehrheit, Meldepflichten	Baums, Theodor
Recommendations by the Issing Commission - Memo for the G-20 Summit in Seoul White Paper No. 23, 2010	Otmar Issing, Jan Pieter Krahnen, Klaus Regling, William White	Nov 2010	White Paper	Financial Intermediation	2010	Basel III, systemic risk, liquidity support	Regling, Klaus Krahnen, Jan Pieter White, William Issing, Otmar
MiFID - Spirit and Reality of a European Financial Markets Directive White Paper No. 22, 2010	Peter Gomber, Axel Pierron	Nov 2010	White Paper	Financial Markets	2010	MiFID, regulation, securities trading	Gomber, Peter Pierron, Axel
Asset Prices and Monetary Policy: Some Skeptical Observations White Paper No. 9, 2009	Stefan Gerlach	Oct 2009	White Paper	Macro Finance	2009	monetary policy, macroecomomic fluctuations, regulation	Gerlach, Stefan
Stellungnahme zum "Restrukturierungsgesetz" White Paper No. 20, 2010	Jan Pieter Krahnen, Helmut Siekmann	Oct 2010	White Paper	Financial Intermediation	2010	Systemisches Risiko, Restruktuierung, Abwicklung	Krahnen, Jan Pieter Siekmann, Helmut
Banking and Sovereign Risk in the Euro Area White Paper No. 19, 2010	Stefan Gerlach, Alexander Schulz, Guntram B. Wolff	Sep 2010	White Paper	Macro Finance	2010	sovereign bond markets, banking, liquidity, EMU	Wolff, Guntram B. Schulz, Alexander Gerlach, Stefan
Managerhaftung und Verjährungsfrist White Paper No. 17, 2010	Theodor Baums	Aug 2010	White Paper	Law and Finance	2010	Organhaftungsregeln, Verjährungsfristen	Baums, Theodor
Die Finanzmarktaufsicht in der Krise White Paper No. 16, 2010	Helmut Siekmann	Aug 2010	White Paper	Financial Intermediation	2010	Finanzmarktaufsicht, Ratingagenturen, Abwicklung	Siekmann, Helmut
Ursachen, Auswirkungen und Lehren der Finanzkrise: Eine systematische Bestandsaufnahme White Paper No. 15, 2010	Helmut Siekmann	Jul 2010	White Paper	Financial Intermediation	2010	Systemisches Risiko, Finanzaufsicht	Siekmann, Helmut
Criteria for a Workable Approach Towards Bank Levies and Bank Restructuring White Paper No. 14, 2010	Otmar Issing, Jan Pieter Krahnen	Jun 2010	White Paper	Financial Intermediation	2010	systemic risk, bank resolution	Krahnen, Jan Pieter Issing, Otmar
The Greek Sovereign Debt Crisis and ECB Policy White Paper No. 12, 2010	Stefan Gerlach	Jun 2010	White Paper	Macro Finance	2010	public debt, ECB	Gerlach, Stefan
Are the Golden Years of Central Banking Over? Monetary Policy after the Crisis White Paper No. 10, 2010	Stefan Gerlach	Jun 2010	White Paper	Macro Finance	2010	monetary policy, public debt, central banks	Gerlach, Stefan
Risiko und Risikosteuerung im Aktienrecht White Paper No. 9, 2010	Theodor Baums	Jul 2010	White Paper	Law and Finance	2010	Risikomanagement, Vorstandspflichten	Baums, Theodor
Die Rolle von Anreizen für die Zukunfts der Kreditverbriefung White Paper No. 5, 2009	Günter Franke, Jan Pieter Krahnen	Apr 2009	White Paper	Financial Intermediation	2009	Kreditverbriefung, Agency Theorie, Vergütungssysteme	Krahnen, Jan Pieter Franke, Günter
The Risk of Deflation White Paper No. 4, 2009	Stefan Gerlach	Apr 2009	White Paper	Macro Finance	2009	deflation, monetary policy, fiscal policy	Gerlach, Stefan
Future Development of Global Imbalances White Paper No. 4, 2010	Stefan Gerlach	Mar 2010	White Paper	Macro Finance	2010	current account balances, international monetary system, G20	Gerlach, Stefan
Rescue Strategy Without Moral Hazard – An Attempt to Provide a Master Plan for Avoiding Banking Crises White Paper No. 3, 2010	Jan Pieter Krahnen, Helmut Siekmann	Feb 2010	White Paper	Financial Intermediation	2010	systemic risk, banking hospital	Krahnen, Jan Pieter Siekmann, Helmut
Rettungsstrategie ohne Moral Hazard – Versuch eines Gesamtkonzepts zur Bankkrisenvermeidung White Paper No. 2, 2010	Jan Pieter Krahnen, Helmut Siekmann	Feb 2010	White Paper	Financial Intermediation	2010	Systemisches Risiko, Bankenhospital	Krahnen, Jan Pieter Siekmann, Helmut
Die Unabhängigkeit des Vergütungsberaters White Paper No. 1, 2010	Theodor Baums	Jan 2010	White Paper	Law and Finance	2010	Corporate Governance-Kodex, Vergütungsberater	Baums, Theodor
Defining and Measuring Systemic Risk White Paper No. 8, 2009	Stefan Gerlach	Nov 2009	White Paper	Financial Intermediation	2009	systemic risk, statistical risk measurement	Gerlach, Stefan
Stabilisierung der WestLB AG durch Garantien des Landes NRW White Paper No. 7, 2009	Helmut Siekmann	Oct 2009	White Paper	Financial Intermediation	2009	Landesbanken	Siekmann, Helmut
Die Neuordnung der Finanzmarktaufsicht White Paper No. 6, 2009	Helmut Siekmann	Oct 2009	White Paper	Financial Intermediation	2009	Finanzmärkte, Rechtsordnung	Siekmann, Helmut
Entwurf einer Regelung zur Mitbestimmungsvereinbarung und zur Größe des mitbestimmten Aufsichtsrats White Paper No. 3, 2009	Gregor Bachmann, Theodor Baums, Mathias Habersack, Martin Henssler, Marcus Lutter, Hartmut Oetker, Peter Ulmer	May 2009	White Paper	Law and Finance	2009	Mitbestimmungsrecht	Oetker, Hartmut Baums, Theodor Ulmer, Peter Bachmann, Gregor Lutter, Marcus Henssler, Martin Habersack, Mathias
Die Schaffung von Einrichtungen der Finanzaufsicht auf EU-Ebene White Paper No. 2, 2009	Helmut Siekmann	Apr 2009	White Paper	Financial Intermediation	2009	Gemeinschaftsagenturen, Finanzmarktaufsicht	Siekmann, Helmut
Anschleichen an Übernahmeziele mittels Cash Settled Equity Derivaten - ein Regelungsvorschlag White Paper No. 1, 2009	Theodor Baums	Feb 2009	White Paper	Law and Finance	2009	Unternehmensübernahmen, Equity Swaps	Baums, Theodor
Verschwenderische Südeuropäer? Policy Letter No. 25, 2011	Michael Haliassos	Dec 2011	Policy Letter	Macro Finance	2011	Staatsschuldenkrise, Europäische Währungsunion, Arbeitsproduktivität	Haliassos, Michael
Prodigal Italy Greece Spain? Policy Letter No. 24, 2011	Michael Haliassos	Dec 2011	Policy Letter	Macro Finance	2011	http://safe-frankfurt.de/policy-publications/administrator/components/com_jresearch/files/publications/Haliassos_Prodigal_Italy_Greece_Spain.pdf	Haliassos, Michael
Ordnungspolitik gegen Systemrisiken Policy Letter No. 23, 2011	Hermann Remsperger	Dec 2011	Policy Letter	Macro Finance	2011	systemisches Risiko, Geldpolitik	Remsperger, Hermann
Der Weg in die Knechtschaft Policy Letter No. 22, 2011	Otmar Issing	Dec 2011	Policy Letter	Macro Finance	2011	Freiheit, soziale Marktwirtschaft, Basisdemokratie	Issing, Otmar
Europa - wohin Policy Letter No. 21, 2011	Bertram Schefold	Dec 2011	Policy Letter	Macro Finance	2011	Europäische Währungsunion, Strukturanpassungen, Europäische Integration	Schefold, Bertram
Kluge Finanzarchitektur zur Begrenzung des systemischen Risikos Policy Letter No. 20, 2011	Jan Pieter Krahnen	Dec 2011	Policy Letter	Financial Intermediation	2011	systemisches Risiko, too-big-to-fail, Regulierung	Krahnen, Jan Pieter
Stellungnahme zum Antrag der SPD-Fraktion auf Einführung einer Finanztransaktionssteuer in Europa Policy Letter No. 19, 2011	Volker Wieland	Nov 2011	Policy Letter	Financial Intermediation	2011	Finanztransaktionssteuer, Finanzinnovationen, Finanzspekulation	Wieland, Volker
Rational Learning About Rare-Disaster Frequencies: A Persistent Source of Asset-Price Overreaction Policy Letter No. 14, 2011	Volker Wieland	Nov 2011	Policy Letter	Financial Markets	2011	asset prices, comsumer beliefs, Bayesian learning	Wieland, Volker
Long-Term Guarantees and the Countercyclical Premium Under Solvency II Policy Letter No. 15, 2011	Helmut Gründl, Hato Schmeiser	Nov 2011	Policy Letter	Financial Intermediation	2011	insurance supervision, capital requirements, Solvency II	Schmeiser, Hato Gründl, Helmut
Rechtsbrüche im Euroraum Policy Letter No. 13, 2011	Helmut Siekmann	Oct 2011	Policy Letter	Macro Finance	2011	Europäische Währungsunion, Währungsrecht, Europarecht	Siekmann, Helmut
Geldpolitik vor der Krise Policy Letter No. 12, 2011	Stefan Gerlach, Laura Moretti	Aug 2011	Policy Letter	Macro Finance	2011	Geldpolitik, reale Zinssätze, Finanzkrise	Moretti, Laura Gerlach, Stefan
Monetary Policy Before the Crisis Policy Letter No. 11, 2011	Stefan Gerlach, Laura Moretti	Aug 2011	Policy Letter	Macro Finance	2011	monetary policy, real interest rates, financial crisis	Moretti, Laura Gerlach, Stefan
Ein makroprudenzielles Mandat für die Bundesbank Policy Letter No. 10, 2011	Hermann Remsperger	Aug 2011	Policy Letter	Macro Finance	2011	makroprudenzielle Regulierung, Finanzstabilität, Bundesbank	Remsperger, Hermann
Comment on the European Commission's Green Paper "The EU Corporate Governance Framework" Policy Letter No. 9, 2011	Hans-Joachim Böcking, Marius Gros	Jul 2011	Policy Letter	Law and Finance	2011	corporate governance, supervisory board, shareholder activism	Böcking, Hans-Joachim Gros, Marius
Ratingagenturen entmachten - aber wie? Policy Letter No. 8, 2011	Reinhard H. Schmidt	Jul 2011	Policy Letter	Financial Intermediation	2011	Ratingagenturen, Marktmacht	Schmidt, Reinhard H.
"Politiker wollen die Wahrheit nicht hören" Policy Letter No. 7, 2011	Jan Pieter Krahnen	Jul 2011	Policy Letter	Financial Intermediation	2011	Ratingagenturen, Schuldenkrise	Krahnen, Jan Pieter
The Bail-In Puzzle Policy Letter No. 6, 2011	Jan Pieter Krahnen	Jul 2011	Policy Letter	Financial Intermediation	2011	debt restructuring, financial stability, bank bonds	Krahnen, Jan Pieter
Reforms or Bankruptcy? Policy Letter No. 5, 2011	Michael Haliassos	Jun 2011	Policy Letter	Macro Finance	2011	Greek economic crisis, public debt, structural reforms	Haliassos, Michael
Die Bankenabgabe in Deutschland Policy Letter No. 3, 2011	Helmut Siekmann	Apr 2011	Policy Letter	Financial Intermediation	2011	Bankenabgabe, Systemisches Risiko, Restrukturierungsgesetz	Siekmann, Helmut
Stellungnahme zum Gesetzesentwurf der Bundesregierung zur Umsetzung der OGAW-Richtlinie der EU-Kommission Policy Letter No. 2, 2011	Raimond Maurer	Mar 2011	Policy Letter	Household Finance	2011	Investmentfonds, Wertpapiere, Anlegerschutz	Maurer, Raimond
Europataugliche Einlagensicherung: Vorschlag für eine dreistufige Einlagensicherung mit begrenzter europäischer Haftung Policy Letter No. 16, 2012	Jan Pieter Krahnen	Dec 2012	Policy Letter	Financial Intermediation	2012	Bankenunion, Einlagensicherung, Bankinsolvenzen	Krahnen, Jan Pieter
Gender Balance in the ECB's Executive Board Policy Letter No. 15, 2012	Laura Moretti	Nov 2012	Policy Letter	Macro Finance	2012	gender equality, ECB Executive Board	Moretti, Laura
Comment on the European Parliament Draft Report on the Proposal for a Recovery and Resolution Directive Policy Letter No. 14, 2012	Jan Pieter Krahnen	Nov 2012	Policy Letter	Financial Intermediation	2012	bail-in bonds, bank resolution, Liikanen Report	Krahnen, Jan Pieter
Nationality and the ECB's Executive Board Policy Letter No. 12, 2012	Laura Moretti	Aug 2012	Policy Letter	Macro Finance	2012	European Monetary Union, institutional design	Moretti, Laura
Die Notenbanken und das liebe Geld: Von Zinsen, Inflation und konjunktureller Überhitzung Policy Letter No. 13, 2012	Volker Wieland	Sep 2012	Policy Letter	Macro Finance	2012	Zentralbanken, Inflationssteuerung, Geldpolitik	Wieland, Volker
On the Potential Threats from a Greek Eurozone Exit Policy Letter No. 11, 2012	Ester Faia	May 2012	Policy Letter	Macro Finance	2012	European Monetary Union, TARGET balances, inflation	Faia, Ester
Central Bank Independence: Does the Governor's Passport Matter? Policy Letter No. 10, 2012	Laura Moretti	May 2012	Policy Letter	Macro Finance	2012	central bank independence, central bank governor	Moretti, Laura
Stellungnahme zu den vom Deutschen Standardisierungsrat vorgeschlagenen Änderungen der Anforderungen an die Konzernlageberichterstattung Policy Letter No. 09, 2012	Hans-Joachim Böcking, Marius Gros	Apr 2012	Policy Letter	Law and Finance	2012	Chancen- und Risikoberichterstattung, Strategieberichterstattung, Management Commentary	Böcking, Hans-Joachim Gros, Marius
Finanzstabilität im Bundestag Policy Letter No. 08, 2012	Hermann Remsperger	Apr 2012	Policy Letter	Macro Finance	2012	Finanzstabilitätsgesetz; makroprudenzielle Regulierung; Zentralbank	Remsperger, Hermann
Wie lässt sich der Kundennutzen der Anlageberatung steigern? Policy Letter No. 07, 2012	Andreas Hackethal	Apr 2012	Policy Letter	Household Finance	2012	Anlageentscheidung, Wertpapierberatung, Risikomaße, Rendite	Hackethal, Andreas
Stellungnahme zu den DCGK-Aenderungsvorschlaegen der Regierungskommission Deutscher Corporate Governance Kodex Policy Letter No. 06, 2012	Hans-Joachim Böcking, Marius Gros	Mar 2012	Policy Letter	Law and Finance	2012	Deutscher Corporate Governance Kodex, Prüfungsausschuss, Aufsichtsratsvergütung	Böcking, Hans-Joachim Gros, Marius
Support Mechanisms Pose Fundamental Legal Questions Policy Letter No. 05, 2012	Helmut Siekmann	Feb 2012	Policy Letter	Macro Finance	2012	sovereign debt crisis, ESM, EFSF, new fiscal compact	Siekmann, Helmut
Zukunft der Universalbanken Policy Letter No. 9	Michael Kemmer, Jan Pieter Krahnen	Apr 2013	Policy Letter	Financial Intermediation	2013	Trennbanken, Restrukturierung, Abwicklung, Liikanen-Kommission	Krahnen, Jan Pieter Kemmer, Michael
Deposit Insurance Suitable for Europe: Proposal for a Three-Stage Deposit Guarantee Scheme with Limited European Liability Policy Letter No. 8	Jan Pieter Krahnen	Apr 2013	Policy Letter	Financial Intermediation	2013	banking union; deposit insurance; bank risk	Krahnen, Jan Pieter
Zentralbankpolitik: Überforderung statt Langeweile? White Paper No. 3	Hermann Remsperger	Apr 2013	White Paper	Macro Finance	2013	makroprudenzielle Regulierung; Zentralbank; Bankenaufsicht	Remsperger, Hermann
Legal Aspects of Gender Balance on Corporate Boards in Germany White Paper No. 2	Katja Langenbucher	Mar 2013	White Paper	Law and Finance	2013	German corporate governance codex, gender equality, German constitutional law	Langenbucher, Katja
Civil Liability of Credit Rating Agencies after CRA 3 – Regulatory All-or-Nothing Approaches Between Immunity and Over-Deterrence White Paper No. 1	Brigitte Haar	Feb 2013	White Paper	Financial Intermediation	2013	Rating Agencies, regulation, contractual liability, CRA3	Haar, Brigitte
Missachtung rechtlicher Vorgaben des AEUV durch die Mitgliedstaaten und die EZB in der Schuldenkrise White Paper No. 15, 2012	Helmut Siekmann	Nov 2012	White Paper	Law and Finance	2012	Bankenkrise, Staatsschuldenkrise, EFSF, ESM, Fiskalpakt	Siekmann, Helmut
Stellungnahme zum Entwurf eines Dritten Gesetzes zur Umsetzung eines Maßnahmenpakets zur Stabilisierung des Finanzmarktes White Paper No. 14, 2012	Helmut Siekmann	Nov 2012	White Paper	Financial Intermediation	2012	Finanzmarktstabilisierungsgesetz, Restrukturierungsfond, systemisches Risiko	Siekmann, Helmut
Marktkräfte und Finanzstabilität: Desiderate und Anreizwirkungen eines institutionellen Rahmens für Bankenrestrukturierung White Paper No. 13, 2012	Günter Franke, Jan Pieter Krahnen	Oct 2012	White Paper	Financial Intermediation	2012	Ankeranleihen, Bail-in, systemisches Risiko, Bankenrestrukturierung	Krahnen, Jan Pieter Franke, Günter
Die Legende von der verfassungsrechtlichen Sonderstellung des „anonymen“ Kapitaleigentums White Paper No. 12, 2012	Helmut Siekmann	Sep 2012	White Paper	Law and Finance	2012	Geldeigentum, Anteilseigentum, Gesellschaftsrecht, Verfassungsrecht	Siekmann, Helmut
Neuausrichtung des OTC-Derivate-Marktes als Chance begreifen White Paper No. 11, 2012	Peter Gomber, Thorsten Gommel	Sep 2012	White Paper	Financial Intermediation	2012	EMIR, OTC-Derivate, CDS	Gommel, Thorsten Gomber, Peter
Löhne kürzen schadet der Wettbewerbsfähigkeit Press Article No. 01, 2013	Michael Haliassos	Jan 2013	Press Article	Macro Finance	2013	Griechenland, strukturelle Reformen, Arbeitsproduktivität	Haliassos, Michael
Aktuelle Finanzmarktpolitik: Wo bleibt die Nachhaltigkeit? White Paper No. 10, 2012	Reinhard H. Schmidt	Jul 2012	White Paper	Financial Intermediation	2012	Finanzkrise, Finanzmarktpolitik, Regulierung, Nachhaltigkeit	Schmidt, Reinhard H.
The Greek Crisis Two Years On: Policy Options and Resolution Prospects White Paper No. 09, 2012	Lucas Papademos	Jun 2012	White Paper	Macro Finance	2012	Greece; fiscal adjustment; European Monetary Union	Papademos, Lucas
Früher war nicht alles besser Press Article No. 04, 2012	Theodor Baums	Sep 2012	Press Article	Law and Finance	2012		Baums, Theodor
Central Banks – Paradise Lost? White Paper No. 08, 2012	Otmar Issing	May 2012	White Paper	Macro Finance	2012	central bank mandate, financial stability	Issing, Otmar
Systemic Risks and Central Banks White Paper No. 07, 2012	Hermann Remsperger	May 2012	White Paper	Macro Finance	2012	macroprudential regulation, monetary policy, Financial Stability Act	Remsperger, Hermann
Grosser Beifall von allen Seiten Press Article No. 03, 2012	Otmar Issing	Sep 2012	Press Article	Macro Finance	2012	Europäische Währungsunion, politische Union, Eurobonds	Issing, Otmar
Der Weg aus der Krise White Paper No. 06, 2012	Otmar Issing	Apr 2012	White Paper	Macro Finance	2012	Währungsunion, Fiskalunion, Eurobonds	Issing, Otmar
The Problem with Envisaging an Exit Press Article No. 02, 2012	Laura Moretti	Aug 2012	Press Article	Macro Finance	2012		Moretti, Laura
Jeder muss sich selbst helfen Press Article No. 01, 2012	Otmar Issing	Aug 2012	Press Article	Macro Finance	2012	Europäische Währungsunion, politische Union	Issing, Otmar
"The Economic Rationale for Financial Regulation” Reconsidered White Paper No. 05, 2012	Richard Herring, Reinhard H. Schmidt	Apr 2012	White Paper	Financial Intermediation	2012	regulation, supervision, systemic risk	Herring, Richard Schmidt, Reinhard H.
Moral Hazard will Result from ECB Bond Buying Press Article No. 10, 2011	Otmar Issing	Nov 2011	Press Article	Macro Finance	2011	lender of last resort, ECB, sovereign debt	Issing, Otmar
Risiko muss wieder kosten Press Article No. 9, 2011	Jan Pieter Krahnen	Sep 2011	Press Article	Financial Intermediation	2011	Anleihemärkte, systemisches Risiko, Bankeninsolvenz	Krahnen, Jan Pieter

Contact: policy_center@safe-frankfurt.de