Party politics may influence German banks’ bond holdings, ECB paper finds
Researchers examine effects of local elections on decisions by local savings banks
A working paper published by the European Central Bank investigates the influence of party politics on German banks’ purchase of local government debt.
In Politics, banks and sub-sovereign debt: unholy trinity or divine coincidence? Michael Koetter and Alexander Popov construct a dataset they say “exploits the unique dual institutional setting of the German electoral system and of the German banking system”.
Germany has 16 states and 438 counties. The country has two major political parties
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