Stefan W. Schmitz's Books

Institutional Change in the Payments System and Monetary Policy

By: Stefan W. Schmitz,Geoffrey Wood

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Institutional Change in the Payments System and Monetary Policy

By: Stefan W. Schmitz,Geoffrey Wood

Central bankers worldwide welcome the recent increase of research on payment systems. This volume, providing an expert overview on this timely subject, should be required reading for us all". - Erkki Liikanen, Governor of the Bank of Finland Monetary policy has been at the centre of economic research from the early stages of economic thought, but payment system research has attracted increased academic attention only in the past decade. This book’s succeeds in merging these two so far largely separated fields. Innovative and groundbreaking, Schmitz and Woods initiate research on the interdependence of institutional change in the payments system and monetary policy, examining the different channels via which payment systems affect monetary policy. It explores important themes such as: conceptualization and methods of analysis of institutional change in the payments system determinants of institutional change in the payments system – political-economy versus technology empirics of institutional change in the retail and in the wholesale payments systems – policy initiatives and new technologies in the payments system implications of institutional change in the payments system for monetary policy and the instruments available to central banks to cope with it. The result is an accessible overview of conceptual and methodological approaches to institutional change in payment systems, and a comprehensive and yet thorough assessment of its implications for monetary policy. The insights this timely book provides will be invaluable for researchers and practitioners in the field of monetary economics.

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Page Count

190

Publisher

Routledge

Published Date

ISBN 10

1134175116

ISBN 13

9781134175116

Photoelectron Spectroscopy

Principles and Applications

By: Stefan Hüfner

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Photoelectron Spectroscopy

Principles and Applications

By: Stefan Hüfner

Photoelectron Spectroscopy presents an up-to-date introduction to the field by comprehensively treating the electronic structures of atoms, molecules, solids, and surfaces. Brief descriptions are given of inverse photoemission, spin-polarized photoemission and photoelectron diffraction. Experimental aspects are considered throughout the book and the results are carefully interpreted in terms of the theory. A wealth of measured data is presented in tabulator form for easy use by experimentalists.

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Page Count

530

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3662032090

ISBN 13

9783662032091

Next Generation System-Wide Liquidity Stress Testing

By: Mr.Claus Puhr,Mr.Andre Santos,Mr.Christian Schmieder,Salih N. Neftci,Mr.Benjamin Neudorfer,Mr.Stefan W. Schmitz,Mr.Heiko Hesse

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Next Generation System-Wide Liquidity Stress Testing

By: Mr.Claus Puhr,Mr.Andre Santos,Mr.Christian Schmieder,Salih N. Neftci,Mr.Benjamin Neudorfer,Mr.Stefan W. Schmitz,Mr.Heiko Hesse

A framework to run system-wide, balance sheet data-based liquidity stress tests is presented. The liquidity framework includes three elements: (a) a module to simulate the impact of bank run scenarios; (b) a module to assess risks arising from maturity transformation and rollover risks, implemented either in a simplified manner or as a fully-fledged cash flow-based approach; and (c) a framework to link liquidity and solvency risks. The framework also allows the simulation of how banks cope with upcoming regulatory changes (Basel III), and accommodates differences in data availability. A case study shows the impact of a "Lehman" type event for stylized banks.

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Publisher

International Monetary Fund

Published Date

ISBN 10

147550246X

ISBN 13

9781475502466

Bank Solvency and Funding Cost

New Data and New Results

By: Mr.Stefan W. Schmitz,Michael Sigmund,Ms.Laura Valderrama

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Bank Solvency and Funding Cost

New Data and New Results

By: Mr.Stefan W. Schmitz,Michael Sigmund,Ms.Laura Valderrama

This paper presents new evidence on the empirical relationship between bank solvency and funding costs. Building on a newly constructed dataset drawing on supervisory data for 54 large banks from six advanced countries over 2004–2013, we use a simultaneous equation approach to estimate the contemporaneous interaction between solvency and liquidity. Our results show that liquidity and solvency interactions can be more material than suggested by the existing empirical literature. A 100 bps increase in regulatory capital ratios is associated with a decrease of bank funding costs of about 105 bps. A 100 bps increase in funding costs reduces regulatory capital buffers by 32 bps. We also find evidence of non-linear effects between solvency and funding costs. Understanding the impact of solvency on funding costs is particularly relevant for stress testing. Our analysis suggests that neglecting the dynamic features of the solvency-liquidity nexus in the 2014 EU-wide stress test could have led to a significant underestimation of the impact of stress on bank capital ratios.

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Publisher

International Monetary Fund

Published Date

ISBN 10

1484300890

ISBN 13

9781484300893

The Written Questionnaire in Social Dialectology

History, theory, practice

By: Stefan Dollinger

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The Written Questionnaire in Social Dialectology

History, theory, practice

By: Stefan Dollinger

Methods of linguistic data collection are among the most central aspects in empirical linguistics. While written questionnaires have only played a minor role in the field of social dialectology, the study of regional and social variation, the last decade has seen a methodological revival. This book is the first monograph-length account on written questionnaires in more than 60 years. It reconnects – for the newcomer and the more seasoned empirical linguist alike – the older questionnaire tradition, last given serious treatment in the 1950s, with the more recent instantiations, reincarnations and new developments in an up-to-date, near-comprehensive account. A disciplinary history of the method sets the scene for a discussion of essential theoretical aspects in dialectology and sociolinguistics. The book is rounded off by a step-by-step practical guide – from study idea to data analysis and statistics – that includes hands-on sections on Excel and the statistical suite R for the novice.

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Page Count

427

Publisher

John Benjamins Publishing Company

Published Date

ISBN 10

9027267774

ISBN 13

9789027267771

Book's by Stefan W. Schmitz

Institutional Change in the Payments System and Monetary Policy

Institutional Change in the Payments System and Monetary Policy

Photoelectron Spectroscopy

Photoelectron Spectroscopy

Next Generation System-Wide Liquidity Stress Testing

Next Generation System-Wide Liquidity Stress Testing

Bank Solvency and Funding Cost

Bank Solvency and Funding Cost

The Written Questionnaire in Social Dialectology

The Written Questionnaire in Social Dialectology

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