Working Papers

Prof. Dr. Frank Heinemann

Risk-taking under Limited Liability: Quantifying the Role of Motivated Beliefs (2019) CRC TRR 190 Discussion Paper No. 210Paper
Central Bank Reputation, Cheap Talk and Transparency as Substitutes for Commitment: Experimental Evidencewith John DuffySFB 649 Discussion Paper 2016-053Paper
Characterizing Equilibrium Selection in Global Games with Strategic Complementaritieswith Christian Basteck and Tijmen DaniëlsSFB 649 Discussion Paper 2010-008Paper
Escaping from a Combination of Liquidity Trap and Credit Crunch (2008) This version uses a private information approach to derive a unique equilibrium. The published version uses a private value approach.VOX (26.10.2008)
Multiple Outcomes of Speculative Behavior in Theory and in the Laboratory (2007)with Jim Costain and Peter Ockenfels Paper
Crossing Network versus Dealer Market: Unique Equilibrium in the Allocation of Order Flow (2006)with Jutta Dönges Paper
Multiple but Asymmetric Bank Financing: The Case of Relationship Lending (2004)with Ralf Elsas and Marcel Tyrell Paper
Flexibility of Wage Contracts and Monetary Policy (1999)  Paper
Relative Probabilities (1997)  Paper
Closing Economic Models by Information Assumptions

Dr. Steffen Ahrens

Loss Contracts Do Not Help Coordination (But Gender Does)(2020)with Lea Bitter and Ciril Bosch-Rosamimeo, 19 pp.Paper
Asset Price Dynamics and Endogenous Trader Overconfidence (2019)with Ciril Bosch-Rosa and Rasmus Pank Roulungmimeo, 40 pp.Paper
The Motivated Beliefs of Financial Decision-Making Under Limited Liability (2018)with Ciril Bosch-Rosamimeo, 19 pp.Paper
The Stabilizing Effects of Publishing Strategic Central Bank Projections (2015)with Lustenhouwer, J. and Tettamanzi, M.44 pp.Paper
Layoff Taxes, Unemployment Insurance, and Business Cycle Fluctuations (2015)with Nejati, N. and Pfeiffer, P.L.Kiel Working Papers 1988, Kiel Institute for the World Economy, 22 pp.Paper
Path-Dependent Wage Responsiveness (2015)with Pirschel, I. and Snower, D.J.Kiel Working Paper 1977, Kiel Institute for the World Economy, 33 pp.Paper
Inequality Aversion and the Long-Run Effectiveness of Monetary Policy: Bilateral versus Group Comparison (2012) Kiel Working Papers 1802, Kiel Institute for the World Economy, Kiel, 13 pp.Paper

Ciril Bosch-Rosa, PhD

Heads we both win, tails only you lose: the effect of limited liability on risk-taking in financial decision making (2018)with Steffen Ahrens Paper
The One Player Guessing Game: A diagnosis on the relationship between equilibrium play, stated beliefs, and best responses (2018)with Thomas Meissner Paper

Rouven Geismar

Teaching Economics with Interactive Browser-Based Models (2020)with Dominguez-Moran, Juan Paper

Muhammed Bulutay

Imperfect tacit collusion and asymmetric price transmission (2021)with David Hales, Patrick Julius and Weiwei Tasch Paper

Philipp Pfeiffer

How much Keynes and how much Schumpeter? An Estimated Macromodel of the US Economy (2017)with Guido Cozzi, Beatrice Pataracchia and Marco RattoJRC Working Papers in Economics and FinancePaper
Measuring Preferences Over the Temporal Resolution of Consumption Uncertainty (2017)with Thomas Meissner Paper

Dr. Kartik Anand

Rollover risk, network structure and systemic financial crises (2011)with Prasanna Gai and Matteo Marsili SSRN
A network model of financial system resilience (2010)with Simon Brennman, Prasanna Gai, Sujit Kapadia and Matthew Wilison ECB
Shannon and von neumann entropies of random networks with heterogenous expected degrees (2010)with Ginestra Bianconi and Simone Severini arXiv
Epidemics of rules, information aggregation failure and market crashes (2010)with Alan Kirman and Matteo Marsili SSRN

Dr. Philipp König

TARGET2 and the European Sovereign Debt Crisis (2012)with Ulrich Bindseil Paper
The Economics of TARGET2 (2011)with Ulrich Bindseil Paper
Liquidity and Capital Requirements and the Probability of Bank Failure SFB 649 Discussion Paper 2010-027Paper