[cid:image002.png@01D1C0AB.662E0E50] ECONOMETRICS RESEARCH SEMINAR INVITATION R E M I N D E R The Institute for Advanced Studies cordially invites you to the following Econometrics Research Seminar <http://www.ihs.ac.at/vienna/resources/Economics/Papers/20130226_Paper_Zimmermann.pdf> Thursday, June 9, 2016 Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna Seminar Room 101, 1st floor 9:00 am (Please note that the seminar will start at 9 am sharp!) Bernd Schwaab<http://www.berndschwaab.eu/> European Central Bank Bank business models at zero interest rates<http://www.berndschwaab.eu/papers/LSS_BBM.pdf> We propose a novel observation-driven dynamic finite mixture model for the study of banking data. The model accommodates time-varying component means and co-variance matrices, normal and t-distributed mixtures, and economic determinants of time-varying parameters. Monte Carlo experiments suggest that banks can be classified reliably into distinct components in a variety of settings. In an empirical study of 233 European banks between 2008Q1-2015Q2, we demonstrate that past crises had a differential impact on banks with different business models. In addition, changes in long-term interest rates predict features of banks' business models. Paper jointly with André Lucas and Julia Schaumburg We are looking forward to seeing you! Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 145 e-Mail: economics@ihs.ac.at<mailto:economics@ihs.ac.at> http://economics.ihs.ac.at<http://economics.ihs.ac.at/> LINKS DIRECTIONS TO IHS on Google maps<https://www.google.at/maps/place/Institut+f%C3%BCr+H%C3%B6here+Studien/@48.2096845,16.3476134,15z/data=!4m2!3m1!1s0x0:0x86d55731043062b7> ECONOMICS SEMINARS <https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40group.calendar.google.com&ctz=Europe/Vienna> IN VIENNA<https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40group.calendar.google.com&ctz=Europe/Vienna> on Google calendar<https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40group.calendar.google.com&ctz=Europe/Vienna> [cid:image004.jpg@01CEBF6B.00DB9700]<http://economics.ihs.ac.at/> [http://www.ihs.ac.at/vienna/resources/Economics/Others/twitter-bird-white-on-blue.png]<https://twitter.com/IHS_Vienna>Institute for Advanced Studies @IHS_Vienna<https://twitter.com/IHS_Vienna> Diese Zusendung erfolgt entsprechend den Bestimmungen des TKG 247107. Sollten Sie keine weiteren Zusendungen wuenschen, senden Sie uns bitte eine kurze Mitteilung an: economics@ihs.ac.at<mailto:economics@ihs.ac.at>. If you do not want to receive our mailings please send an e-mail to: economics@ihs.ac.at<mailto:economics@ihs.ac.at>. Also sent to noeg-l@wu.ac.at<mailto:noeg-l@wu.ac.at> (https://mailman.wu.ac.at/mailman/listinfo/noeg-l).
