Prof. Dr. Lena Tonzer
Prof. Dr. Lena Tonzer
2023
Peer-reviewed journal article
Cultural norms and corporate fraud - evidence from the Volkswagen scandal
Hasan, Iftekhar; Noth, Felix; Tonzer, Lena
In: Journal of corporate finance - [Amsterdam] : Elsevier Science, Bd. 82 (2023), Artikel 102443
2022
Peer-reviewed journal article
Understanding climate activism - who participates in climate marches such as “Fridays for Future” and what can we learn from it?
Noth, Felix; Tonzer, Lena
In: Energy research & social science - Amsterdam [u.a.] : Elsevier, Bd. 84 (2022), Artikel 102360
Peer-reviewed journal article
Completing the European Banking Union: Capital cost consequences for credit providers and corporate borrowers
Krause, Thomas; Koetter, Michael; Sfrappini, Eleonora; Tonzer, Lena
In: European Economic Review
Peer-reviewed journal article
Financial Linkages and Sectoral Business Cycle Synchronization: Evidence from Europe
Böhm, Hannes; Schaumburg, Julia; Tonzer, Lena
In: IMF Economic Review, Springer Science and Business Media LLC, Bd. 70, Heft 4, S. 698-734
Peer-reviewed journal article
A Note of Caution on Quantifying Banks' Recapitalization Effects
SCHMIDT, KIRSTEN; NOTH, FELIX; TONZER, LENA
In: Journal of Money, Credit and Banking, Wiley, Bd. 54, Heft 4, S. 1123-1133
Peer-reviewed journal article
Firm‐specific forecast errors and asymmetric investment propensity
Buchholz, Manuel; Tonzer, Lena; Berner, Julian
In: Economic Inquiry, Wiley, Bd. 60, Heft 2, S. 764-793
2021
Peer-reviewed journal article
Macroprudential policy and intra-group dynamics: The effects of reserve requirements in Brazil
Becker, Chris; Ossandon Busch, Matias; Tonzer, Lena
In: Journal of Corporate Finance, Elsevier BV, Bd. 71, S. 102096
Peer-reviewed journal article
Monetary policy through exchange rate pegs: The removal of the Swiss franc‐Euro floor and stock price reactions
von Schweinitz, Gregor; Tonzer, Lena; Buchholz, Manuel
In: International Review of Finance, Wiley, Bd. 21, Heft 4, S. 1382-1406
2020
Peer-reviewed journal article
Do conventional monetary policy instruments matter in unconventional times?
Buchholz, Manuel; Schmidt, Kirsten; Tonzer, Lena
In: Journal of Banking & Finance, Elsevier BV, Bd. 118, S. 105858
Peer-reviewed journal article
Interactions between bank levies and corporate taxes: How is bank leverage affected?
Bremus, Franziska; Schmidt, Kirsten; Tonzer, Lena
In: Journal of Banking & Finance, Elsevier BV, Bd. 118, S. 105874
2019
Peer-reviewed journal article
Elevated Uncertainty during the Financial Crisis: Do Effects on Subjective Well-Being Differ across European Countries?
Tonzer, Lena
In: The B.E. Journal of Economic Analysis & Policy, Walter de Gruyter GmbH, Bd. 19, Heft 2
Peer-reviewed journal article
Delay determinants of European Banking Union implementation
Koetter, Michael; Krause, Thomas; Tonzer, Lena
In: European journal of political economy - Amsterdam [u.a.] : Elsevier, Bd. 58 (2019), S. 1-20
Peer-reviewed journal article
Drivers of systemic risk: Do national and European perspectives differ?
Buch, Claudia M.; Krause, Thomas; Tonzer, Lena
In: Journal of International Money and Finance, Elsevier BV, Bd. 91, S. 160-176
2017
Peer-reviewed journal article
Complexity and bank risk during the financial crisis
Krause, Thomas; Sondershaus, Talina; Tonzer, Lena
In: Economics Letters, Elsevier BV, Bd. 150, S. 118-121
2016
Article in journal
Taxing banks - an evaluation of the German Bank Levy
Buch, Claudia M.; Hilberg, Björn; Tonzer, Lena
In: Journal of banking and finance - Amsterdam : Elsevier North-Holland, Bd. 72 (2016), S. 52-66
Article in journal
Bank risk proxies and the crisis of 2007/09 - a comparison
Noth, Felix; Tonzer, Lena
In: Applied economics letters - Abingdon : Routledge, Bd. 23 (2016), S. 1-4
Article in journal
2nd IWH-FIN-FIRE Workshop on Challenges to Financial Stability ein Tagungsbericht
Tonzer, Lena
In: Wirtschaft im Wandel - Halle, S. : IWH - 22(2016)5, S. 107
Article in journal
Aktuelle Trends - Turbulenzen an den Finanzmärkten vor und nach dem Brexit-Referendum
Tonzer, Lena
In: Wirtschaft im Wandel - Halle, S. : IWH - 22(2016)3, S. 48
Peer-reviewed journal article
Sovereign Credit Risk Co-Movements in the Eurozone: Simple Interdependence or Contagion? - Sovereign Credit Risk Co-Movements in the Eurozone
Buchholz, Manuel; Tonzer, Lena
In: International Finance, Wiley, Bd. 19, Heft 3, S. 246-268
Monograph
Central bank transparency and cross-border banking
Eichler, Stefan; Littke, Helge; Tonzer, Lena
In: Halle (Saale), Germany: Halle Institute for Economic Research (IWH), 2016, 1 Online-Ressource (III, 55 Seiten, 1,28 MB), Diagramme, Karten - (IWH discussion papers; no. 16/2016)
Monograph
The role of complexity for bank risk during the financial crisis - evidence from a novel dataset
Krause, Thomas; Sondershaus, Talina; Tonzer, Lena
In: Halle (Saale), Germany: Halle Institute for Economic Research (IWH), 2016, 1 Online-Ressource (III, 31 Seiten, 0,82 MB), Diagramme - (IWH discussion papers; no. 17/2016)
Monograph
Brexit (probability) and effects on financial market stability
Krause, Thomas; Noth, Felix; Tonzer, Lena
In: Halle (Saale): Leibniz-Institut für Wirtschaftsforschung Halle (IWH), 2016, 1 Online-Ressource (9 Seiten, 8,57 MB), Illustrationen - (IWH online; 2016, 5)
Monograph
International banking and cross-border effects of regulation - lessons from Germany
Ohls, Jana; Pramor, Marcus; Tonzer, Lena
In: Frankfurt am Main: Deutsche Bundesbank, 2016, 1 Online-Ressource (circa 35 Seiten) - (Discussion paper; Deutsche Bundesbank; no 2016/27), ISBN: 978-3-95729-280-3
Monograph
Asymmetric investment responses to firm-specific uncertainty
Buchholz, Manuel; Tonzer, Lena; Berner, Julian
In: Halle (Saale), Germany: Halle Institute for Economic Research (IWH), 2016, 1 Online-Ressource (58 Seiten = 1,7 MB), Illustrationen - (IWH discussion papers; no. 7/2016)
2015
Article in journal
Cross-border interbank networks, banking risk and contagion
Tonzer, Lena
In: Journal of financial stability - Amsterdam [u.a.] : Elsevier, Bd. 18.2015, S. 19-32
Article in journal
1st IWH-FIN-FIRE Workshop on challenges to financial stability
Bacher, Annika; Tonzer, Lena
In: Wirtschaft im Wandel - Halle, S. : IWH - 21(2015)5, S. 90
Article in journal
Welche Risikomaße bilden das Ausfallrisiko für Geschäftsbanken adäquat ab? - Eine Analyse am Beispiel US-amerikanischer Banken
Noth, Felix; Tonzer, Lena
In: Wirtschaft im Wandel - Halle, S. : IWH - 21(2015)2, S. 25-28
Peer-reviewed journal article
Uncertainty, Bank Lending, and Bank-Level Heterogeneity
Buch, Claudia M; Buchholz, Manuel; Tonzer, Lena
In: IMF Economic Review, Springer Science and Business Media LLC, Bd. 63, Heft 4, S. 919-954
Monograph
Bank risk proxies and the crisis of 2007/09 : a comparison
Noth, Felix; Tonzer, Lena
In: Halle (Saale): Leibniz-Inst. für Wirtschaftsforschung - IWH, 2015, Online-Ressource (PDF-Datei: III, 7 S., 0,3 MB), graph. Darst. - (IWH-Diskussionspapiere; 2015,13)
Current projects
Banks' Foreign Homes
Duration: 01.01.2023 bis 30.06.2025
This project analyses the drivers of banks' lending behaviour backed by real estate during the low interest rate environment. Typical drivers of cross-border activities of banks are distance, cultural similarities or institutional factors. Also profit opportunities play an important role. Especially during the low interest rate environment recently experienced in the euro area, banks might actively search for yield by investing abroad. Our study tests whether such motives can be observed in the data.
International Banking and Global Supply Chain Disruptions
Duration: 01.01.2022 bis 31.12.2024
Trade and financial flows are globally intertwined, and trade exposures might drive banks' cross-border lending decisions. In this study, we investigate how global supply chain exposures affect international lending activities of banks. For identification, we exploit the unexpected disruptions in international trade due to the Covid-19 pandemic in a panel of Austrian banks for the period from 2017 to 2021. Our analysis provides relevant insights into how trade exposures affect internationally active banks' cross border activities.
Distributional effects of macroprudential policies in Europe
Duration: 01.07.2021 bis 30.06.2024
The sustainability of economic unions like the European Union (EU) or currency unions like the euro area depend amongst others on similar economic growth paths, non-excessive debt levels or dispersions in income distributions across countries. Financial crises pose a threat in that respect, as they tend to result in deep and prolonged recessions. The re-regulation of the financial system over the last decade intends to decrease systemic vulnerability and thus negative effects of financial crises on the real sector and individuals. To reach the objective of a more stable financial system, a key element is the introduction of macroprudential policies. An increasing range of studies looks at the first order effects of macroprudential regulation on banking system stability or lending sensitivities finding that credit and house price growth declines given tighter regulation (e.g., Aiyar et al. 2014, Akinci and Olmstead-Rumsey 2018, Cerutti et al. 2017, Danisewicz et al. 2017). However, less evidence exists on indirect spillovers to individuals via distributional effects. In this paper, we aim to fill this gap and ask whether the introduction of macroprudential policies targeting financial system stability affect individuals’ income situation heterogeneously along the income distribution, which might have implications for income inequality in Europe. The analysis is based on EU-SILC microdata and covers households and individuals across countries being part of the European Union for the period from 2010 to 2018.