Survey, Policy and Shorter Papers
European Banking and Capital Markets Union
- The Importance of a Banking Union and Fiscal Union for a Capital Markets Union.
Prepared for European Commission, Directorate-General for Economic and Financial Affairs, 2017
Co-authored with V. Acharya
> Paper - Feasibility Check: Transition to a New Regime for Bank Sovereign Exposure?
In-Depth Analysis, provided at the request of the Economic and Monetary Affairs Committee,
European Parliament, 2017
Co-authored with Y. Schneider
> Paper - Country Report – Germany
In “European Banking Supervision: The First Eighteen Months”, 2016
Edited by Nicolas Veron and Dirk Schoenmaker.
> Paper - Capital Markets Union – Why Other Unions Must Lead the Way
Swiss Journal of Economics and Statistics, 2016, Vol. 152 (4), 319-329.
Co-authored with V. Acharya
> Paper - Capital Shortfalls in SSM Banks: How much progress has been made?
In-Depth Analysis, provided at the request of the Economic and Monetary Affairs Committee,
European Parliament, 2015
> Paper - Is the Banking Union Stable and Resilient as it Looks?
Prepared for Allen, F., E. Carletti (edts), The New Financial Architecture, 2015
Co-authored with V. Acharya
> Paper - Did emergency liquidity assistance (ELA) of the ECB delay the bankruptcy of Greek banks?
SAFE Policy Brief, 2015
Co-authored with M. Goetz, R. Haselmann, and J. Krahnen
> Paper
Stress Testing and Systemic Risk
- Capital Shortfalls of European Banks following the 2018 Stress Test
2018
Co-authored with D. Pierret
- Have European Banks Become Safer?
2018
Co-authored with D. Pierret - High Time to Tell European Banks: No Dividends
Turning of the Dividend Spigot, Project Syndicate, Sept. 2016
Co-authored with V. Acharya, and D. Pierret - Introducing the “Leverage Ratio” in Assessing the Capital Adequacy of European Banks.
2016
Co-authored with V. Acharya, and D. Pierret
Coverage in Financial Times (2x), Wall Street Journal, Bloomberg (among others) - Capital Shortfalls of European Banks since the Start of the Banking Union.
2016
Co-authored with V. Acharya, and D. Pierret - Funktionsweise und Einschätzung des “Comprehensive Assessment”
zfbf Kontaktstudium (in German), 2015
with L. Steinruecke - Benchmarking the European Central Bank's Asset Quality Review and Stress Test – A Tale of Two Leverage Ratios.
Center of European Policy Studies Working Paper Series, 2014
Co-authored with V. Acharya- Coverage in NY Times, Financial Times, Telegraph (among others
- FT Letter to the editor: “Why should ECB have produced results so different from our?” with Viral V. Acharya and Robert Engle
- Making Sense of the Comprehensive Assessment
VoxEU.org October 2013
Co-authored with V. Acharya
> Paper- Reprinted in “Stress Testing and Macroprudential Regulation – A Transatlantic Assessment” edited by Ronal W. Anderson, CEPR Press, SRC, FMG, May 2016.
- Reprinted in “Stress Testing and Macroprudential Regulation – A Transatlantic Assessment” edited by Ronal W. Anderson, CEPR Press, SRC, FMG, May 2016.
- Robustness, validity and significance of the ECB’s asset quality review and stress test exercise.
In-Depth Analysis, provided at the request of the Economic and Monetary Affairs Committee,
European Parliament, 2014
> Paper - Falling Short of Expectations? Stress-Testing the European Banking System.
Center of European Policy Studies Working Paper Series, 2014
Co-authored with V. Acharya - Wie wirkt sich der Wegfall staatlicher Garantien auf die Risikoübernahme von Banken aus?
ifo Schnelldienst 65 (18), 2012, 17-21
Co-authored with M. Fischer, C. Hainz, and J. Rocholl - How much capital do European banks need? Some estimates
VoxEU.org, 2011
Co-authored with V. Acharya, and D. Schoenmaker
> Paper - Measuring systemic risk of the European banking sector
VoxEU.org, 2011
> Paper
Banking
- The banking crisis as a giant carry trade gone wrong
VoxEU.org May 2013
> Paper - Exit strategies of buyout investments: An empirical analysis.
Journal of Alternative Investments, 2014, 12(4): 58–84
Co-authored with D. Schmidt and F. Szabo
> Paper - Exit strategien von buyout-investments
Absolut|report, 2014, 26–31
Monographs and Book Chapters
- Analyzing systemic risk of the European banking sector
Handbook on systemic risk, 2014
Ed. J.-P. Fouque and J. Langsam, Cambridge, UK: Cambridge University Press.
Co-authored with V. Acharya
> Paper - Thesen zur Reform des Einlagensicherungssystems
Beck, 2011
Co-authored with M. Weber
> Paper - Funktionen und Einsatz von Finanzderivaten.
Außerbörsliche (OTC) Finanzderivate: Rechtshandbuch, 2008/2009/2010
Ed. J.-C. Zerey. München: Nomos
Co-authored with U. Schuewer, U. - The role of private information in financial contracting: Evidence from the syndicated loan market.
Dissertation, 2008