(with Reint Gropp), IWH Online 8/2015, 1-14 Abstract: In a recent IWH online note, the IWH suggested that due to “flight to safety” effects, Germany was able to issue government debt at lower rates than otherwise would have been possible. …

Interest Benefits from the Debt Crisis to the German Budget Read more »

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(together with Claudia M. Buch), in: Nowotny, E, Ritzberger-Grünwald, D., Backé, P.: Financial Cycles and the Real Economy. Lessons for CESEE Countries, Edward Elgar, 2014 (and: IWH Discussion Paper 8/2014) Abstract: The economic and financial crisis that emerged in 2008 …

Do We Need New Modelling Approaches in Macroeconomics? Read more »

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(together with Susanne Prinz, Gerhard Gründer, Ralf Dieter Hilgers and Ingo Vernaleken), Frontiers in Psychology 5, 2014, Article 158 Abstract: This study on healthy young male students aimed to enlighten the associations between an individual’s financial decision making and surrogate …

Impact of Personal Economic Environment and Personality Factors on Individual Financial Decision Making Read more »

Guest article Irish Examiner, January 2, 2013 The debt crisis in some member states of the European Monetary Union shows once more how closely related bank crises and sovereign debt crises are. However, the details of the crises in the …

Many observers have appreciated the Irish response to the crisis Read more »

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(together with Steven Devaney and Rainer Schulz), IWH Discussion Paper 15/2012 Abstract: Informationally efficient prices are a necessary requirement for optimal resource allocation in the real estate market. Prices are informationally efficient if they reflect buildings’ benefit to marginal buyers, …

Efficiency in the UK Commercial Property Market: A Long-run Perspective Read more »

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(together with Mathias Hoffmann), Scandinavian Journal of Economics 112, 2010, 127-161 Abstract: We discuss how the welfare ranking of fixed and flexible exchange rate regimes in a New Open Economy Macroeconomics model depends on the interplay between the degree of …

Transmission of Nominal Exchange Rate Changes to Export Prices and Trade Flows in Europe Read more »