Publications of the Research Unit Pensions and Sustainable Financial Markets

This study examines how knowledge about institutional settings and their reform affects the effectiveness of those reforms. We examine this question in the context of social security, the largest social…

Despite the socio-political importance of occupational pensions since the pension reforms of the 1990s and 2000s, the incomplete evidence base, lack of transparency and lack of data have been regularly…

The ZEW Financial Market Survey is a monthly panel survey among financial market experts that was launched in December 1991. The survey focuses on the experts’ expectations about international financial markets…

• Misappropriation of Subsidies Weakens Effectiveness of Chinese Innovation Policy
• Which Measures Promote Energy Savings in Private Households Most Cost-Effectively?
• Debt-Equity Bias Should Be Addressed on…

We develop a portfolio balance model to analyze the impact of euro area quantitative easing (QE) on asset yields. Our model features two countries each populated by two agents representing their respective…

In an international comparison, Germans have a relatively high level of financial knowledge. However, this does not imply that financial knowledge is universally distributed. The share of respondents, who are…

• Inflation Effect of the ECB’s Change of Strategy Disputed Among Financial Experts
• Counteracting Information Deficits and Disinformation in Times of Fake News
• Smart Distribution of Emissions Could Save the EU…

Correspondent banks allow local banks in emerging markets to access the international payments system. This helps local banks to make cross-border payments, clear currencies, and provide trade finance. The…