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Posts by Falko Fecht

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How CCyBs travel – Internal capital markets & domestic borrowing Björn Imbierowicz, Axel Loeffler, Steven Ongena, Ursula Vogel

Macroprudential policies are designed to make banking systems safer. But their effects may not stop where regulators intend them to.

👉 In a discussion paper, Bundesbank experts share how foreign countercyclical capital buffer increases affect multinational corporations: bundesbank.de/content/961182

1 week ago 4 2 0 0
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Social networks weaken geographic boundaries of existing deposit markets, finds a new SUERF Policy Brief, co-authored by Bundesbank economist Natalya Martynova. It shows that deposit competition is not purely local anymore.

Read more here: www.suerf.org/publications/…

2 weeks ago 2 3 0 0
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Bislang ist über die Wirkung der US-Zollpolitik seit April 2025 auf Unternehmen in Deutschland nur wenig bekannt. Eine neue Unternehmensbefragung der Deutschen Bundesbank aus dem vierten Quartal 2025 liefert neue Erkenntnisse. www.bundesbank.de/content/988552

3 weeks ago 2 1 0 0
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Geopolitical hybrid threats Norbert Metiu, Martin Völpel

Rising geopolitical tensions are leading to an increase in hybrid threats, such as cyberattacks and espionage. But how do these affect economies?

👉 In a discussion paper published today, Bundesbank experts introduce a new index and share their findings: bundesbank.de/content/961186

3 weeks ago 1 1 0 0
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America first? The macroeconomic implications of punitive tariffs in a production network model Anne Ernst, Natascha Hinterlang, Marius Jäger, Nikolai Stähler

New #discussionpaper by the #Bundesbank #researchcentre: America first? The macroeconomic implications of punitive tariffs in a production network model.

👉 bundesbank.de/content/966092

4 weeks ago 3 1 0 0
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High-frequency instruments with time-varying reliability: Understanding identification in macroeconomics Pooyan Amir-Ahmadi, Christian Matthes, Mu-Chun Wang

📝 New #discussionpaper by the #Bundesbank #researchcentre: Monetary policy, fragility, and fund flows

👉 Read the full paper here: www.bundesbank.de/content/967812

1 month ago 2 1 0 0
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Die durchschnittlichen #Inflationserwartungen der #Privatpersonen in #Deutschland für die kommenden zwölf Monate sind im Februar 2026 auf 2,7 Prozent gesunken. Die Mehrheit der Befragten (95 Prozent) füllte die Umfrage vor dem Ausbruch des Kriegs im Iran aus.
👉 www.bundesbank.de/content/849084

1 month ago 2 1 0 0
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From imposition to lifting: Estimating the effects of sanctions over their lifecycle Ohyun Kwon, Arne J. Nagengast, Jangsu Yoon, Yoto V. Yotov

A new Bundesbank discussion paper finds that complete trade sanctions reduce bilateral trade by around 58% – far more than traditional estimates suggest. How fast does trade recover once sanctions are lifted?

👉 Find out here: bundesbank.de/content/925538

2 months ago 1 1 0 0
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Redesigning the classical automatic selection of X-11 seasonal filters Karsten Webel

How can we improve the quality of seasonally adjusted estimates obtained with up-to-date methods tailored to the complexities of modern daily and weekly economic data?

The Bundesbank Research Centre has released a new Discussion Paper.

Read the entire text here:
👉 bundesbank.de/content/925522

1 month ago 2 2 0 0
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High-frequency instruments with time-varying reliability: Understanding identification in macroeconomics Pooyan Amir-Ahmadi, Christian Matthes, Mu-Chun Wang

New #discussionpaper by the #Bundesbank #researchcentre: High-frequency instruments with time-varying reliability: Understanding identification in macroeconomics. 📝
Read the full paper here: www.bundesbank.de/content/974504

1 month ago 4 1 0 0
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Multiple equilibria? Don’t panic! – A hitchhiker’s guide to global games Kartik Anand, Philipp J. König

A new discussionpaper by the #Bundesbank's researchcentre is out now, bearing the title: "Multiple equilibria? Don’t panic! – A hitchhiker’s guide to global games."

📝 Read the full paper here: bundesbank.de/content/925536

2 months ago 2 1 0 0

New #discussionpaper by the #Bundesbank #researchcentre: Monetary policy and supply-side turnover.

📝 Read the full paper here: bundesbank.de/content/989080

2 months ago 1 1 0 0

New #discussionpaper by #Bundesbank #researchcentre: Do local fuel prices affect remote working behaviors and carbon emission savings? Evidence from German panel data.

📝 Read the full paper here: bundesbank.de/content/988950

2 months ago 4 1 0 0

New #discussionpaper by #Bundesbank #researchcentre: Local peer effects and corporate investment

📝 Read the full paper here: bundesbank.de/content/925530

#business #investment #research

4 months ago 2 1 0 0
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Die durchschnittlichen #Inflationserwartungen der #Privatpersonen in Deutschland für die kommenden zwölf Monate verringerten sich im November gegenüber dem Vormonat geringfügig. Sie reduzierten sich von 3,0 Prozent auf 2,9 Prozent.

👉 bundesbank.de/content/849084

4 months ago 4 1 0 0
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"Resilienz ist eine Frage der Vorbereitung, der Zusammenarbeit und der richtigen Ressourcen", betonte Bundesbankvorständin Fritzi Köhler-Geib in ihrer Keynote auf einem Panel der Bundesbank zur #Anpassungsfähigkeit in Deutschland.💡

#Resilienz

📰Zur vollständigen Rede: bundesbank.de/content/972246

4 months ago 3 1 0 0
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„Central Banking ist Technologie“ | Börsen-Zeitung Die tägliche Arbeit der Bundesbank ist nach den Worten von Vorständin Fritzi Köhler-Geib eng mit Technologie verzahnt.

Vorständin Fritzi Köhler-Geib betont im #Interview mit der Börsen-Zeitung: "Central Banking ist Technologie." Ihre Schwerpunkte: Future of Finance, bessere Datenverfügbarkeit und die digitale Transformation der Bundesbank, von #KI bis #QuantenComputing.

👉 www.boersen-zeitung.de/konjunktur-p...

4 months ago 1 1 0 0
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Finanzzyklen stehen seit der Finanzkrise verstärkt im Fokus von Forschung und Politik.

▶️ Eine neue Studie der Bundesbank zeigt, dass die Geldpolitik eine entscheidende Rolle bei der Stabilisierung dieser Zyklen spielen kann.

Mehr dazu im aktuellen Research Brief: www.bundesbank.de/content/956820

4 months ago 3 1 0 0

New #discussionpaper by #Bundesbank #researchcentre: A simple model of geopolitical risk and sanctions

📄 Read the full paper here: bundesbank.de/content/970464

#EconSky #Research

5 months ago 1 1 0 0
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Social trading, correlated retail investing and non-fundamental speculation Discussion paper 29/2025: David Russ

New #discussionpaper by #Bundesbank #researchcentre: Social trading, correlated retail investing and non-fundamental speculation

📝Read the full paper here: www.bundesbank.de/content/967886

#EconSky #Research

6 months ago 1 1 0 1
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Regional loan market structure, bank lending rates and monetary transmission Discussion paper 30/2025: Sebastian Bredl

New #discussionpaper by #Bundesbank #researchcentre: Regional loan market structure, bank lending rates and monetary transmission

📝Read the full paper here: www.bundesbank.de/content/968132

#EconSky #Research

6 months ago 1 1 0 0

#econsky

6 months ago 2 0 0 0
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Optimal central bank collateral policy for the net zero transition Discussion paper 28/2025: Matthias Kaldorf

New #discussionpaper by #Bundesbank #researchcentre: Optimal central bank collateral policy for the net zero transition.

📝Read the full paper here: www.bundesbank.de/content/967708

#EconSky #Research

6 months ago 2 1 0 0

New #discussionpaper by #Bundesbank #researchcentre: A choice-based approach to the measurement of inflation expectations.

📝Read the full paper here: www.bundesbank.de/content/967244

#EconSky #Research

6 months ago 2 1 0 0
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Beyond the short run: Monetary policy and innovation investment Discussion paper 18/2025: Michaela Elfsbacka-Schmöller, Olga Goldfayn-Frank, Tobias Schmidt

New #discussionpaper by #Bundesbank #researchcentre: Beyond the short run: Monetary policy and innovation investment.

📝Read the full paper here: www.bundesbank.de/content/962548

#EconSky #Research

8 months ago 5 2 0 0
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Die durchschnittlichen #Inflationserwartungen der Privatpersonen in Deutschland für die kommenden zwölf Monate lagen im Juli bei 2,9 Prozent. Damit verblieben sie den dritten Monat in Folge unter der drei-Prozent-Marke.
bundesbank.de/content/849084

#Inflation #Preise #Erwartungen

8 months ago 3 1 0 0
(c) Norman Kriese / EZB

(c) Norman Kriese / EZB

Bundesbank #Researchbrief: Gewährung von #Zentralbankkrediten gegen Sicherheiten von geringerer Bonität kann Bedingungen am #Geldmarkt verbessern

➡️www.bundesbank.de/content/947856

8 months ago 4 1 0 0
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Do G-SIBs engage in window-dressing behavior? An empirical analysis Discussion paper 19/2025: Kamil Pliszka, Carina Schlam

New #discussionpaper by #Bundesbank #researchcentre: Do G-SIBs engage in window-dressing behavior? An empirical analysis

📝Read the full paper here: bundesbank.de/content/925512

#EconSky #Research

8 months ago 4 1 0 0
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Collateral easing and safe asset scarcity: How money markets benefit from low-quality collateral Discussion paper 20/2025: Stefan Greppmair, Karol Paludkiewicz, Sascha Steffen

New #discussionpaper by #Bundesbank #researchcentre: Collateral easing and safe asset scarcity: How money markets benefit from low-quality collateral

📝Read the full paper here: bundesbank.de/content/963958

#EconSky #Research

8 months ago 3 2 0 0
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Germany 🇩🇪 & Japan 🇯🇵 face similar structural challenges: ageing populations, low growth, global uncertainty. At the #BundesbankInvitedSpeakersSeries, Hiroshi Nakaso & Bundesbank President Nagel discussed how to build resilience in turbulent times.

📽️ Watch the recording: bundesbank.de/content/856244

9 months ago 5 2 0 0