Publications of the Research Unit Pensions and Sustainable Financial Markets

• New ZEW President Achim Wambach Establishes Research Group "Market Design"
• Childhood Is a Decisive Factor in Income Disparities in the UK and the US
• Still Room for Improvement as EU Fibre-Optic Networks Expand
• Unil…

We examine how the geographical proximity to a microfinance bank affects financial inclusion. We study the expansion of the branch network of ProCredit banks in South-East Europe between 2006 and 2010. We report…

I study credit rationing in small firm-bank relationships by using a unique data set of matched loan applications and contracts. I establish the degree of credit rationing by relating a firm’s requested loan…

Could macroeconomic factors such as income inequality be the real root cause of financial crises? We explore a broad variety of financial and macroeconomic variables and employ a general-to-specific model…

• Chinese Patents in International Comparison: Increasing Quantity at the Cost of Quality
• Highly Productive Enterprises Make More Use of Global Sourcing
• Mind the Gap – The Difference Between US and European Loan…

The economic meltdown since 2008-9 has created disinflation, and even deflation in some countries in the Euro-area, in a period with large debt overhang, creating the condition for a continuing financial market…

In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks, precipitating a run on their short-term debt. We assess the effectiveness of different…