A new textbook by Prof. Löffler has been released: "Finanzierung". It's an introduction to financial theory (in German).
Were the prices of internet and technology stocks really too high in early 2000? Or was the subsequent decline in prices too strong? A study that is forthcoming in the Financial Review favors the second explanation. Whether there was a speculative bubble or not is thus much more difficult to decide than many observers think.
Do popular measures of systemic risk reliably indicate how much financial stability is threatened by individual institutions? A paper to be published in the Journal of Financial and Quantitative Analysis shows that there are many cases in which the measures can give misleading indications and create wrong incentives.
Were contagion effects in the euro debt crisis as relevant as many observers believed them to be? A new study with surprising results is published in the Journal of Fixed Income.
Teaching in the winter term 2018
Investment and Risk Management
Risk Management Roundup