CFS Working Paper Series

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2011/22: Monetary Policy and TIPS Yields Before the Crisis

Stefan Gerlach and Laura Moretti

2011/20: Investigating the Monetary Policy of Central Banks with Assessment Indicators

Marcel Bluhm

2011/19: Default Risk in an Interconnected Banking System with Endogeneous Asset Markets

Marcel Bluhm and Jan Pieter Krahnen

2010/08: The Diversity of Forecasts from Macroeconomic Models of the U.S. Economy

Volker Wieland and Maik H. Wolters

2009/18: Modelling and Forecasting Liquidity Supply Using Semiparametric Factor Dynamics

Wolfgang Karl Härdle, Nikolaus Hautsch and Andrija Mihoci

2009/11: CDOs and Systematic Risk: Why bond ratings are inadequate

Jan Pieter Krahnen and Christian Wilde

2009/04: Financial Advisors: A Case of Babysitters?

Andreas Hackethal, Michael Haliassos and Tullio Jappelli

2009/03: Analyzing Interest Rate Risk: Stochastic Volatility in the Term Structure of Government Bond Yields

Nikolaus Hautsch and Yangguoyi Ou

2009/02: Stockholding: From Participation to Location and to Participation Spillovers

Dimitris Christelis, Dimitris Georgarakos and Michael Haliassos

2009/01: Opting out of the Great Inflation: German Monetary Policy after the Break Down of Bretton Woods

Andreas Beyer, Vítor Gaspar, Christina Gerberding and Otmar Issing

2008/30: Financial Structure and the Impact of Monetary Policy on Asset Prices

Katrin Assenmacher and Stefan Gerlach

2008/29: Does Trade Integration Alter Monetary Policy Transmission?

Tobias Cwik, Gernot Müller and Maik H. Wolters

2008/28: Price Adjustment to News with Uncertain Precision

Nikolaus Hautsch, Dieter Hess and Christoph Müller

2008/25: Central Bank Misperceptions and the Role of Money in Interest Rate Rules

Volker Wieland and Günter W. Beck

2008/24: Confronting the Robinson Crusoe paradigm with household-size heterogeneity

Christos Koulovatianos, Carsten Schröder and Ulrich Schmidt

2008/22: How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States

Zeno Enders, Gernot J. Müller and Almut Scholl

2008/17: Learning, Endogenous Indexation and Disinflation in the New-Keynesian Model

Volker Wieland

2008/16: Economic Projections and Rules-of-Thumb for Monetary Policy

Athanasios Orphanides and Volker Wieland

2008/15: Risk Transfer with CDOs

Jan Pieter Krahnen and Christian Wilde

2008/14: Value-at-Risk and Expected Shortfall for Rare Events

Stefan Mittnik and Tina Yener

2008/13: Increasing Public Expenditures: Wagner’s Law in OECD Countries

Serena Lamartina and Andrea Zaghini

2008/09: International Evidence On Sticky Consumption Growth

Christopher Carroll, Jiri Slacalek and Martin Sommer

2008/08: Multivariate Regime–Switching GARCH with an Application to International Stock Markets

Markus Haas and Stefan Mittnik

2008/07: Asymmetric Multivariate Normal Mixture GARCH

Markus Haas, Stefan Mittnik and Mark S. Paolella

2008/06: Evidence on the Insurance Effect of Marginal Income Taxes

Charles Grant, Christos Koulovatianos, Alexander Michaelides and Mario Padula

2007/25: Capturing Common Components in High-Frequency Financial Time Series: A Multivariate Stochastic Multiplicative Error Model

Nikolaus Hautsch

2007/24: The CFS International Capital Flow Database: A User’s Guide

Christian Offermanns and Marcus Pramor

2007/23: International Investment Positions and Exchange Rate Dynamics: A Dynamic Panel Analysis

Michael Binder and Christian Offermanns

2007/18: Money in Monetary Policy Design under Uncertainty: A Formal Characterization of ECB-Style Cross-Checking

Guenter W. Beck and Volker Wieland

2007/17: Money in Monetary Policy Design under Uncertainty: The Two-Pillar Phillips Curve versus ECB-Style Cross-Checking

Guenter W. Beck and Volker Wieland

2007/16: Gradualism, Transparency and Improved Operational Framework: A Look at the Overnight Volatility Transmission

Silvio Colarossi and Andrea Zaghini

2007/14: Sticky Prices and Monetary Policy: Evidence from Disaggregated U.S. Data

Jean Boivin, Marc P. Giannoni and Ilian Mihov

2007/13: Menu Costs, Multi-Product Firms, and Aggregate Fluctuations

Virgiliu Midrigan

2007/12: Robustly Optimal Monetary Policy with Near-Rational Expectations

Michael Woodford

2007/11: Bayesian and Adaptive Optimal Policy under Model Uncertainty

Lars E. O. Svensson and Noah Williams

2007/10: Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter?

Alessandro Calza, Tommaso Monacelli and Livio Stracca

2007/09: Unemployment Fluctuation with Staggered Nash Wage Bargaining

Mark L. Gertler and Antonella Trigari

2007/08: A New Keynesian Model with Unemployment

Olivier Blanchard and Jordi Gali

2007/07: Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model

Kai Christoffel, Keith Kuester and Tobias Linzert

2007/06: The Mistake of 1937: A General Equilibrium Analysis

Gauti B. Eggertsson and Benjamin Wild Pugsley

2007/05: Three Great American Disinflations

Michael David Bordo, Christopher John Erceg, Andrew Theo Levin and Ryan Michaels

2006/34: Consumption Smoothing and Liquidity Income Redistribution

Giuseppe Bertola and Winfried Koeniger

2006/33: Credit Cycles and Macro Fundamentals

Siem Jan Koopman, Roman Kräussl, André Lucas and Andre Antonio Monteiro

2006/32: Does Patience Pay? Empirical Testing of the Option to Delay Accepting a Tender Offer in the U.S. Banking Sector

Rachel A. Campbell and Roman Kräussl

2006/31: Revisiting the Home Bias Puzzle. Downside Equity Risk

Rachel A. Campbell and Roman Kräussl

2006/30: Global Monetary Policy Shocks in the G5: A SVAR Approach

João Sousa and Andrea Zaghini

2006/29: Public Policy and Venture Capital Financed Innovation: A Contract Design Approach

Julia Hirsch

2006/28: Optimal Choice and Beliefs with Ex Ante Savoring and Ex Post Disappointment

Christian Gollier and Alexander Muermann

2006/27: Tying Lending and Underwriting: Scope Economies, Incentives, and Reputation

Christian Laux and Uwe Walz

2006/26: Mutual versus Stock Insurers: Fair Premium, Capital, and Solvency

Christian Laux and Alexander Muermann