Prof. Dr. Isabel Schnabel CURRICULUM VITAE

Total Page:16

File Type:pdf, Size:1020Kb

Prof. Dr. Isabel Schnabel CURRICULUM VITAE Prof. Dr. Isabel Schnabel CURRICULUM VITAE Oktober 2019 Professorin für Finanzmarktökonomie Institut für Finanzmarktökonomie & Statistik Rheinische Friedrich-Wilhelms-Universität Bonn 53012 Bonn Telefon: (0228) 73 9202 Fax: (0228) 73 99 504 E-Mail: [email protected] URL: http://www.finance.uni-bonn.de/schnabel Twitter: @Isabel_Schnabel PERSÖNLICHE DATEN Geburtsdatum 9. August 1971 Geburtsort Dortmund Geburtsname Gödde Staatsangehörigkeit deutsch Familienstand verheiratet Kinder 3 Kinder (2004, 2006, 2008) GEGENWÄRTIGE BERUFLICHE STELLUNG Professorin (W3) für Finanzmarktökonomie an der Rheinischen Friedrich-Wilhelms-Universität Bonn, seit Dezember 2015 Mitglied des Sachverständigenrates zur Begutachtung der gesamtwirtschaftlichen Entwicklung, seit Juni 2014 Sprecherin des Excellenzclusters 2126 “ECONtribute – Markets & Public Policy” (Universität Bonn und Universität zu Köln), seit Januar 2019 Ko-Vorsitzende des Deutsch-Französischen Rates der Wirtschaftsexperten, seit Oktober 2019 Research Affiliate am Max-Planck-Institut zur Erforschung von Gemeinschaftsgütern, Bonn, seit September 2007 Research Fellow des Centre for Economic Policy Research (CEPR) im Bereich „Financial Economics“, seit Januar 2015 (Affiliate seit Dezember 2006) Research Affiliate und Vorstandsmitglied des Reinhard Selten Institute, Bonn und Köln, seit April 2017 1 FORSCHUNGSINTERESSEN Finanzkrisen, Bankenregulierung, „too big to fail“, systemische Risiken Internationale Kapitalströme, Finanzintegration Wirtschaftsgeschichte (Finanzkrisen und -institutionen) Recht und Ökonomie der Finanzmärkte AKADEMISCHER WERDEGANG März 2009 – November 2015 Professorin (W3) für Volkswirtschaftslehre, insbesondere Financial Economics an der Johannes Gutenberg-Universität Mainz September 2007–Februar 2009 Professorin (W2) für Volkswirtschaftslehre, insbesondere Financial Economics an der Johannes Gutenberg-Universität Mainz April 2007 – September 2007 Vertretungsprofessur (W2) für Volkswirtschaftslehre, insbesondere Financial Economics an der Johannes Gutenberg-Universität Mainz Mai 2004 – August 2007 Senior Research Fellow am Max-Planck-Institut zur Erforschung von Gemeinschaftsgütern, Bonn September 2004 – März 2005 Visiting Postdoctoral Fellow am Department of Economics der Harvard University, Cambridge, USA Februar 2003 – April 2004 Wissenschaftliche Assistentin am Lehrstuhl für Volkswirtschaftslehre, Wirtschaftstheorie von Prof. Martin Hellwig, Ph.D., Fakultät für Volkswirtschaftslehre, Universität Mannheim Februar 2003 Promotion (Dr. rer. pol.), Fakultät für Volkswirtschaftslehre, Universität Mannheim (summa cum laude), Titel der Dissertationsschrift: Macroeconomic Risks and Financial Crises - A Historical Perspective, Gutachter: Prof. Martin Hellwig, Ph.D., Prof. Dr. Christoph Buchheim 1998 –2003 Promotionsstudium im Rahmen des Graduiertenkollegs „Allokation auf Finanz- und Gütermärkten“ der Universität Mannheim Wissenschaftliche Mitarbeiterin am Lehrstuhl für Volkswirtschaftslehre, Wirtschaftstheorie von Prof. Martin Hellwig, Ph.D., Fakultät für Volkswirtschaftslehre, Universität Mannheim November 1998 Diplom im Fach Volkswirtschaftslehre, Universität Mannheim (mit Auszeichnung, Jahrgangsbeste) 1997 –1998 Einjähriges Auslandsstudium im Ph.D.-Programm in Volkswirtschaftslehre an der University of California, Berkeley, USA 1992 – 1994, 1995 – 1997 Studium der Volkswirtschaftslehre an der Universität Mannheim 1995 Sprachstudium in Sankt Petersburg, Russland (vier Monate) 2 1994 – 1995 Auslandsstudium in Volkswirtschaftslehre an der Sorbonne, Universität Paris I (ein Semester) 1990 Stadtgymnasium Dortmund, Abitur HERAUSGEBERSCHAFTEN Seit März 2019 Mitglied des Herausgeberbeirats, Perspektiven der Wirtschaftspolitik Seit Dezember 2009 Mitglied des Editorial Advisory Board der Zeitschrift Financial History Review 2012 – 2017 Mitglied des Board of Associate Editors der Zeitschrift Review of Economics 2008 – 2014 Mitherausgeberin der Zeitschrift The Economics of Transition 2012 – 2013 Panel Member der Zeitschrift Economic Policy DRITTMITTEL Seit 2019 Principal investigator im DFG-Exzellenzcluster 2126 “ECONtribute: Markets & Public Policy”, Universität Bonn und Universität zu Köln Seit 2018 Principal Investigator im DFG-Sonderforschungsbereich Transregio 224 „Economic Perspectives on Societal Challenges: Equality of Opportunity, Market Regulation, and Financial Stability“, Universitäten Bonn und Mannheim, im Projekt C04 „Regulating Asset Managers“ (co-PI: Andreas Engert, Universität Mannheim) Seit 2017 Mitglied des DFG-Graduiertenkollegs 2281 “The Macroeconomics of Inequality”, Universität Bonn Dezember 2015– November 2017 Forschungsförderung des Frankfurter Instituts für Risikomanagement und Regulierung (FIRM) für das Projekt „Asset Price Bubbles and Systemic Risk” (Kooperationspartner: Prof. Dr. Markus Brunnermeier, Princeton University) Januar 2012 – Dezember 2017 DFG-Sachbeihilfe im Rahmen des DFG- Schwerpunktprogramms 1578 Financial Market Imperfections and Macroeconomic Performance für das Projekt „Financial contagion through market prices – Theory and evidence“, mit Prof. Dr. Hendrik Hakenes, Universität Bonn Oktober 2013 –September 2015 Forschungsförderung der Stiftung Geld und Währung für das Projekt „Designing Centralized Banking Supervision and Resolution in the Presence of Multiple Actors and Diverging Interests“ (mit Prof. Dr. Elke Gurlit, JGU Mainz) August 2013 –November 2015 Forschungsförderung des Frankfurter Instituts für Risikomanagement und Regulierung (FIRM) für das Projekt 3 „Did Policy Interventions in the Crisis Foster Financial Disintegration?“ Oktober 2011 – März 2012 Förderung aus dem Forschungsfonds der Johannes Gutenberg-Universität Mainz für das Projekt „Systemic significance of banks – Evidence from the CDS market“ Januar – Dezember 2008 Förderung aus dem Forschungsfonds der Johannes Gutenberg-Universität Mainz für das Projekt „Contagion in interbank markets during the subprime crisis“ SONSTIGE BERUFLICHE AKTIVITÄTEN Seit September 2019 Mitglied des wissenschaftlichen Beirats des IZA – Institute of Labor Economics und der Deutsche Post Stiftung Seit Juni 2019 Stellvertretende Vorsitzende des Wissenschaftlichen Beirats (Advisory Scientific Committee, ASC) des European Systemic Risk Board (ESRB) (Mitglied seit März 2015) Seit Januar 2017 Stellvertretende Vorsitzende des wissenschaftlichen Beirats des Forschungsdaten- und Servicezentrums (FDSZ) der Deutschen Bundesbank (Mitglied seit Juni 2016) Seit April 2016 Vorsitzende des Fachbeirats der BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) (Mitglied seit Januar 2008) Seit März 2014 Fellow des CESifo-Netzwerks Seit Mai 2013 Mitglied des Verwaltungsrates der Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) Seit Juli 2012 Mitglied des Wissenschaftlichen Beirats des Zentrums für Europäische Wirtschaftsforschung (ZEW), Mannheim (zurzeit ruhend) 2015–2018 Mitglied des Erweiterten Vorstands des Vereins für Socialpolitik März 2017 6th Research Workshop in Financial Economics, Universität Bonn September/Oktober 2016 Annual Meeting of the German Finance Association (DGF), Universität Bonn März 2016 5th Research Workshop in Financial Economics, Universität Bonn März 2009–November 2015 Deputy Dean der Graduate School of Economics, Finance, and Management (GSEFM), Johannes Gutenberg-Universität Mainz, Goethe-Universität Frankfurt und Technische Universität Darmstadt Dezember 2013– November 2015 Mitglied des Wissenschaftlichen Beirats des Instituts für Wirtschaftsforschung Halle (IWH) Juni 2015 5th Workshop in Financial Law & Economics zum Thema The European Capital Markets Union, mit Prof. Dr. Josef Ruthig, Johannes Gutenberg-Universität Mainz 4 Juli 2013 – März 2015 Stellvertretendes Mitglied des Leitungsgremiums des Gutenberg Forschungskollegs, Johannes Gutenberg- Universität Mainz März 2015 4th Research Workshop in Financial Economics, Johannes Gutenberg-Universität Mainz Juni 2014 4th Workshop in Financial Law & Economics zum Thema The Comprehensive Assessment, mit Prof. Dr. Josef Ruthig, Johannes Gutenberg-Universität Mainz März 2014 3rd Research Workshop in Financial Economics, Johannes Gutenberg-Universität Mainz September 2013 Internationale Konferenz zum Thema The Structure of Banking Systems and Financial Stability, DFG- Schwerpunktprogramm 1578 und MPI Bonn (mit Prof. Dr. Claudia Buch, Prof. Martin Hellwig, Ph.D., Prof. Dr. Gerhard Illing), Bonn Juni 2013 3rd Workshop in Financial Law & Economics zum Thema The German Bank Restructuring Act – Legal and Economic Aspects, mit Prof. Dr. Josef Ruthig, Johannes Gutenberg- Universität Mainz April 2013 2nd Research Workshop in Financial Economics, Johannes Gutenberg-Universität Mainz Juni 2012 2nd Workshop in Financial Law & Economics zum Thema The Regulation of Shadow Banking – Legal and Economic Perspectives, mit Prof. Dr. Josef Ruthig, Johannes Gutenberg-Universität Mainz März 2012 1st Research Workshop in Financial Economics, Johannes Gutenberg-Universität Mainz November 2009 1st Workshop in Financial Law & Economics zum Thema Juristische und ökonomische Fragen der Bankenregulierung, mit Prof. Dr. Josef Ruthig, Johannes Gutenberg-Universität Mainz Mai – September 2009 Forschungsprojekt bei der European Bank for Reconstruction and Development (EBRD), London 2005 –2009 Mitglied des Board of Trustees der European Historical Economics Society Mai 2005 Forschungsaufenthalt, Europäische Zentralbank, Frankfurt Januar 2004 – August 2007 Kooptiertes Mitglied des Sonderforschungsbereichs/ Transregio 15: Governance and the Efficiency
Recommended publications
  • Forum 4 2020.Indd
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Bénassy-Quéré, Agnès; Weder di Mauro, Beatrice Article European Pandemic Recovery: An Opportunity to Reboot Intereconomics Suggested Citation: Bénassy-Quéré, Agnès; Weder di Mauro, Beatrice (2020) : European Pandemic Recovery: An Opportunity to Reboot, Intereconomics, ISSN 1613-964X, Springer, Heidelberg, Vol. 55, Iss. 4, pp. 205-209, http://dx.doi.org/10.1007/s10272-020-0903-3 This Version is available at: http://hdl.handle.net/10419/224747 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by/4.0/ www.econstor.eu DOI: 10.1007/s10272-020-0903-3 Forum Agnès Bénassy-Quéré and Beatrice Weder di Mauro* European Pandemic Recovery: An Opportunity to Reboot After a period of hesitation, national governments in Eu- and government defi cits in the order of 10% of GDP or rope have reacted forcefully to the pandemic through more.
    [Show full text]
  • The Swiss Interest Rate Puzzle
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Kugler, Peter; Weder di Mauro, Beatrice Working Paper The Demise of the Swiss Interest Rate Puzzle WWZ Working Paper, No. 04/09 Provided in Cooperation with: Center of Business and Economics (WWZ), University of Basel Suggested Citation: Kugler, Peter; Weder di Mauro, Beatrice (2009) : The Demise of the Swiss Interest Rate Puzzle, WWZ Working Paper, No. 04/09, University of Basel, Center of Business and Economics (WWZ), Basel, http://dx.doi.org/10.5451/unibas-ep61355 This Version is available at: http://hdl.handle.net/10419/123398 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Wirtschaftswissenschaftliches Zentrum (WWZ) der Universität Basel March 2009 The Demise of the Swiss Interest Rate Puzzle WWZ Working Paper 04/09 (B-093) Peter Kugler, Beatrice Weder The Author(s): Prof.
    [Show full text]
  • UBS AG (Registrant’S Name)
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: May 7, 2014 Commission File Number: 1-15060 UBS AG (Registrant’s Name) Bahnhofstrasse 45, Zurich, Switzerland, and Aeschenvorstadt 1, Basel, Switzerland (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ⌧ Form 40-F This Form 6-K consists of the News Release of UBS AG which appears immediately following this page. UBS 7 May 2014 News Release Results of the Annual General Meeting of UBS AG At the Annual General Meeting of UBS AG, held on May 7, 2014, UBS’s shareholders confirmed in their offices those members of the Board of Directors who stood for re-election. 1,666 shareholders attended the meeting, representing 1,994,794,917 votes. Zurich/Basel, 7 May 2014 – At the Annual General Meeting UBS AG shareholders approved the Annual Report and Consolidated Financial Statements for 2013 and confirmed Ernst & Young AG, Basel, as auditors and the Independent Proxy (ADB Altorfer Duss & Beilstein AG, Zurich). They also approved the distribution of a dividend of CHF 0.25 per share (98.80%) from capital contribution reserves. Compensation Report approved In an advisory vote, a majority of shareholders (85.93%) approved the Compensation Report for 2013. Discharge approved Shareholders approved the discharge of the members of the Board of Directors and the Group Executive Board for the 2013 financial year (87.30%).
    [Show full text]
  • Banks and Cross-Border Capital Flows: Policy Challenges and Regulatory Responses
    Banks and Cross-Border Capital Flows: Policy Challenges and Regulatory Responses Committee on International Economic Policy and Reform SEPTEMBER 2012 Markus Brunnermeier Philip R. Lane Dani Rodrik José De Gregorio Jean Pisani-Ferry Kenneth Rogoff Barry Eichengreen Eswar Prasad Hyun Song Shin Mohamed El-Erian Raghuram Rajan Andrés Velasco Arminio Fraga Maria Ramos Beatrice Weder di Mauro Takatoshi Ito Hélène Rey Yongding Yu Banks and Cross-Border Capital Flows: Policy Challenges and Regulatory Responses Committee on International Economic Policy and Reform SEPTEMBER 2012 Markus Brunnermeier Philip R. Lane Dani Rodrik José De Gregorio Jean Pisani-Ferry Kenneth Rogoff Barry Eichengreen Eswar Prasad Hyun Song Shin Mohamed El-Erian Raghuram Rajan Andrés Velasco Arminio Fraga Maria Ramos Beatrice Weder di Mauro Takatoshi Ito Hélène Rey Yongding Yu Table of Contents Preface . iii Executive Summary . iv 1 . Introduction . 1 2 . Some Key Features Of Capital Flows . 6 3 . Policy Implications . 20 4 . Summary And Recommendations . 29 References . 32 Appendix A: Subsidiarization . 37 Appendix B: On Europe . 44 BANKS AND CAPITAL FLOWS: POLICY CHALLENGES AND REGULATORY RESPONSES II Preface he Committee on International Economic in global economic management and economic Policy and Reform is a non-partisan, indepen- governance. Each Committee report will focus on Tdent group of experts, comprised of academics a specific topic and will emphasize longer-term and former government and central bank officials. rather than conjunctural policy issues. Its objective is to analyze global monetary and fi- nancial problems, offer systematic analysis, and The Committee is grateful to the Alfred P. Sloan advance reform ideas. The Committee attempts to Foundation* for providing financial support and identify areas in which the global economic archi- to the Brookings Institution for hosting the com- tecture should be strengthened and recommend mittee and facilitating its work.
    [Show full text]
  • From the Center for Economic Policy Research (1).Pdf
    Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes Edited by Richard Baldwin and Beatrice Weder di Mauro Centre for Economic Policy Research 33 Great Sutton Street A VoxEU.org Book London EC1V 0DX CEPR Press Tel: +44 (0)20 7183 8801 Email: [email protected] www.cepr.org CEPR Press Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes CEPR Press Centre for Economic Policy Research 33 Great Sutton Street London, EC1V 0DX UK Tel: +44 (0)20 7183 8801 Email: [email protected] Web: www.cepr.org ISBN: 978-1-912179-29-9 Copyright © CEPR Press, 2020. Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes Edited by Richard Baldwin and Beatrice Weder di Mauro A CEPR Press VoxEU.org eBook CEPR Press The views expressed in this book are those of the authors and not those of CEPR or any of the institutions with which the authors are affiliated. The editors would like to acknowledge the important and timely contribution of research assistance from Guilia Sabbatini and Anmol Kaur Grewal, together with Anil Shamdasani, Sophie Roughton and Alex Southworth’s hard work on production to enable this eBook to be produced so quickly. Centre for Economic Policy Research (CEPR) The Centre for Economic Policy Research (CEPR) is a network of over 1,500 research economists based mostly in European universities. The Centre’s goal is twofold: to promote world-class research, and to get the policy-relevant results into the hands of key decision-makers.
    [Show full text]
  • Economics in the Time of COVID-19 Economics in the Time of COVID-19
    Economics in the Time of COVID-19 Economics in the Time of COVID-19 Edited by Richard Baldwin and Beatrice Weder di Mauro Centre for Economic Policy Research 33 Great Sutton Street A VoxEU.org Book London EC1V 0DX CEPR Press Tel: +44 (0)20 7183 8801 Email: [email protected] www.cepr.org CEPR Press Economics in the Time of COVID-19 CEPR Press Centre for Economic Policy Research 33 Great Sutton Street London, EC1V 0DX UK Tel: +44 (0)20 7183 8801 Email: [email protected] Web: www.cepr.org ISBN: 978-1-912179-28-2 Copyright © CEPR Press, 2020. Economics in the Time of COVID-19 Edited by Richard Baldwin and Beatrice Weder di Mauro A CEPR Press VoxEU.org eBook CEPR Press The views expressed in this book are those of the authors and not those of CEPR or any of the institutions with which the authors are affiliated. The editors would like to acknowledge the important and timely contribution of research assistance from Guilia Sabbatini and Anmol Kaur Grewal, together with Anil Shamdasani and Sophie Roughton’s hard work on production to enable this eBook to be produced so quickly. Centre for Economic Policy Research (CEPR) The Centre for Economic Policy Research (CEPR) is a network of over 1,500 research economists based mostly in European universities. The Centre’s goal is twofold: to promote world-class research, and to get the policy-relevant results into the hands of key decision-makers. CEPR’s guiding principle is ‘Research excellence with policy relevance’. A registered charity since it was founded in 1983, CEPR is independent of all public and private interest groups.
    [Show full text]
  • The Coronavirus and Financial Stability | VOX, CEPR Policy Portal
    UvA-DARE (Digital Academic Repository) The coronavirus and financial stability Boot, A.; Carletti, E.; Haselmann, R.; Kotz, H.-H.; Krahnen, J.P.; Pelizzon, L.; Schaefer, S.; Subrahmanyam, M. Publication date 2020 Document Version Final published version Link to publication Citation for published version (APA): Boot, A. (Author), Carletti, E. (Author), Haselmann, R. (Author), Kotz, H-H. (Author), Krahnen, J. P. (Author), Pelizzon, L. (Author), Schaefer, S. (Author), & Subrahmanyam, M. (Author). (2020). The coronavirus and financial stability. Web publication/site, VoxEU.org. https://voxeu.org/content/coronavirus-and-financial-stability General rights It is not permitted to download or to forward/distribute the text or part of it without the consent of the author(s) and/or copyright holder(s), other than for strictly personal, individual use, unless the work is under an open content license (like Creative Commons). Disclaimer/Complaints regulations If you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons. In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website. Please Ask the Library: https://uba.uva.nl/en/contact, or a letter to: Library of the University of Amsterdam, Secretariat, Singel 425, 1012 WP Amsterdam, The Netherlands. You will be contacted as soon as possible. UvA-DARE is a service provided by the library of the University of Amsterdam (https://dare.uva.nl) Download
    [Show full text]
  • Supplement Dated 27 March 2012 to the Base Prospectus Dated 25 August 2011
    SUPPLEMENT DATED 27 MARCH 2012 TO THE BASE PROSPECTUS DATED 25 AUGUST 2011 UBS AG (incorporated with limited liability in Switzerland) EURO NOTE PROGRAMME This supplement (the Base Prospectus Supplement) to the Base Prospectus dated 25 August 2011 as supplemented by the supplements dated 28 September 2011, 12 October 2011, 20 October 2011, 28 October 2011, 2 December 2011 and 20 February 2012 (as so supplemented, the Base Prospectus) constitutes a supplement for the purposes of Article 16 of Directive 2003/71/EC (the Prospectus Directive) and is prepared in connection with the Euro Note Programme (the Programme) established by UBS AG (the Issuer). Terms defined in the Base Prospectus have the same meaning when used in this Base Prospectus Supplement. This Base Prospectus Supplement is supplemental to and should be read in conjunction with the Base Prospectus. The purpose of the Base Prospectus Supplement is to reflect certain recent developments in relation to the Issuer. The Base Prospectus Supplement has been approved by the Central Bank of Ireland, as competent authority under the Prospectus Directive. The Central Bank of Ireland only approves this Base Prospectus Supplement as meeting the requirements imposed under Irish and EU law pursuant to the Prospectus Directive. The Issuer accepts responsibility for the information contained in this Base Prospectus Supplement. To the best of the knowledge and belief of the Issuer (which has taken all reasonable care to ensure that such is the case) the information contained in this Base Prospectus Supplement is in accordance with the facts and does not omit anything likely to affect the import of such information.
    [Show full text]
  • The Rents of Banking a Public Choice Approach to Bank Regulation
    Herausgeber der Reihe: Hans-Werner Sinn Schriftleitung: Chang Woon Nam ifo Beiträge 59 zur Wirtschaftsforschung The Rents of Banking A Public Choice Approach to Bank Regulation Florian Christopher Buck Bibliografische Information der Deutschen Nationalbibliothek Die Deutsche Nationalbibliothek verzeichnet diese Publikation in der Deutschen Nationalbibliografie; detaillierte bibliografische Daten sind im Internet über http://dnb.d-nb.de abrufbar ISBN-13: 978-3-88512-562-4 Alle Rechte, insbesondere das der Übersetzung in fremde Sprachen, vorbehalten. Ohne ausdrückliche Genehmigung des Verlags ist es auch nicht gestattet, dieses Buch oder Teile daraus auf photomechanischem Wege (Photokopie, Mikrokopie) oder auf andere Art zu vervielfältigen. © ifo Institut, München 2015 Druck: ifo Institut, München ifo Institut im Internet: http://www.cesifo-group.de Preface The rise of a crisis-prone banking sector and its political power has received significant attention following the most recent financial crisis. The crisis sparked a growing interest in understanding how and why we have created a world of large, unstable banks. Excessive banking activity arose not by chance. Using theoretical models from a pub- lic choice perspective, the thesis rationalizes this trend as the outcome of political decisions. I argue that the asymmetric information on the costs of banking regulation (and on the social value of making credit available to selected borrowers) incentivizes politicians to combat banking panics and equally preserve electoral support through the smart design of banking rules, and most importantly the provision of an under- priced safety net for banks. However, this incentive structure has produced a regulatory framework that now favors the emergence of large, systemically important financial in- stitutions.
    [Show full text]
  • UBS AG (Registrant’S Name)
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: April 2, 2013 Commission File Number: 1-15060 UBS AG (Registrant’s Name) Bahnhofstrasse 45, Zurich, Switzerland, and Aeschenvorstadt 1, Basel, Switzerland (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ⌧ Form 40-F This Form 6-K consists of the ad hoc release of UBS AG which appears immediately following this page. Agenda for the Annual General Meeting of UBS AG on 2 May 2013 Zurich/Basel | 02 Apr 2013, 07:00 | Price Sensitive Information Zurich/Basel, 2 April 2013 – UBS AG today published the agenda for the Annual General Meeting of Shareholders (AGM) on 2 May 2013. The agenda items are as follows: 1. Annual report, Group and Parent Bank accounts for financial year 2012 1.1. Approval of annual report and Group and Parent Bank accounts 1.2. Advisory vote on the compensation report 2012 2. Appropriation of retained earnings and distribution 3. Discharge of the members of the Board of Directors and the Group Executive Board for the financial year 2012 4. Elections 4.1. Reelection of members of the Board of Directors 4.1.1. Axel A. Weber 4.1.2. Michel Demaré 4.1.3. David Sidwell 4.1.4. Rainer-Marc Frey 4.1.5. Ann F.
    [Show full text]
  • Long-Run Effects of Exchange Rate Appreciation: Another Puzzle?
    Aussenwirtschaft 68.1 Long-run effects of exchange rate appreciation: Another puzzle? Marlene Amstad and Beatrice Weder di Mauro The Chinese University of Hong Kong, Shenzhen; INSEAD, CEPR and ABFER In the short to medium run, open economy textbook models predict that a real exchange rate appreciation shock negatively impacts macroeconomic performance. Over the long run, exchange rate appreciation and economic growth are predicted to be positively associated due to Balassa- Samuelson effects. In this case, the causality runs from growth to appreciation and exchange rate changes merely reflect underlying economic development, they are not driving them. This paper starts with a selective review of recent empirical literature, which is more ambivalent and suggests several reasons as to why the sensitivity to exchange rate appreciation shocks seems lower than predicted by theory. Reviewing the long-run association of appreciation and growth suggests that causality may also be at issue and raises another puzzle, particularly pronounced in Switzerland. JEL codes: F41, F43, O42 Key words: real exchange rate, appreciation, growth The president “was confused about the dollar: Was it a strong one that’s good for the economy? Or a weak one?” Donald Trump purportedly asked National Security Advisor Flynn Introduction The confusion of Donald Trump may seem surprising, but the economics profession has pondered a similar question: “Do exchange rates and exchange rate regimes matter? And if so, how?” At issue are the channels through which movements in the (real) exchange rate transmit into the domestic economy, the timing, and the quantitative impact as well as the causality of these effects.
    [Show full text]
  • Proxy Report
    Proxy Report UBS Pays Suisse Date de l'assemblée mercredi 7 mai 2014 10:30 Lieu de l'assemblée Messe Basel, Messeplatz, Halle 1.0 Nord, Basel Type d'assemblée Assemblée générale ordinaire Titres ISIN CH0024899483, Telekurs 2489948 AGO 07.05.2014 UBS 1 of 3 Meeting Agenda and Voting Positions Ordre du jour Position de vote Proposition d'Ethos 1.1 Approbation du rapport annuel, des comptes consolidés et des comptes annuels POUR 1.2 Vote consultatif sur le rapport de rémunération CONTRE 2 Décision sur l'emploi du bénéfice et sur le dividende POUR 3 Décharge aux membres du conseil d'administration et de la direction générale CONTRE 4 Modification des statuts: Mise en oeuvre de l'ordonnance Minder POUR 5 Vote consultatif sur la Directive UE de 2013 relative aux exigences de fonds propres POUR réglementaires (CRD IV) 6 Elections au conseil d'administration 6.1.1 Réélection du Dr. oec. Axel Weber as chairman of the board POUR 6.1.2 Réélection de M. Michel Demaré POUR 6.1.3 Réélection de M. David Sidwell POUR 6.1.4 Réélection du Prof. Dr. jur. Reto Francioni POUR 6.1.5 Réélection de Mme Ann F. Godbehere POUR 6.1.6 Réélection du Dr. oec. Axel P. Lehmann POUR 6.1.7 Réélection de M. Dr.sc. Helmut Panke POUR 6.1.8 Réélection de M. William G. Parrett CONTRE 6.1.9 Réélection du Dr. iur. Isabelle Romy POUR 6.1.10 Réélection du Prof. Dr. oec. Beatrice Weder di Mauro POUR 6.1.11 Réélection de M.
    [Show full text]