Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19763 
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dc.contributor.authorBannier, Christina E.en
dc.contributor.authorFecht, Falkoen
dc.contributor.authorTyrell, Marcelen
dc.date.accessioned2009-01-28T16:05:03Z-
dc.date.available2009-01-28T16:05:03Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/19763-
dc.description.abstractOpen-end real estate funds are of particular importance in the German bank- dominated financial system. However, recently the German open-end fund industry came under severe distress which triggered a broad discussion of required regulatory interventions. This paper gives a detailed description of the institutional structure of these funds and of the events that led to the crisis. Furthermore, it applies recent banking theory to openend real estate funds in order to understand why the open-end fund structure was so prevalent in Germany. Based on these theoretical insights we evaluate the various policy recommendations that have been raised.en
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 2 |x2007,04en
dc.subject.jelG28en
dc.subject.jelG23en
dc.subject.ddc330en
dc.subject.keywordOpen-End Fundsen
dc.subject.keywordLiquidity Transformationen
dc.subject.keywordLiquidity Crisisen
dc.subject.keywordRisk Sharingen
dc.subject.stwImmobilienfondsen
dc.subject.stwZahlungsunfähigkeiten
dc.subject.stwFinanzintermediären
dc.subject.stwRisikoen
dc.subject.stwBankenaufsichten
dc.subject.stwDeutschlanden
dc.titleOpen-end real estate funds in Germany: genesis and crisis-
dc.typeWorking Paperen
dc.identifier.ppn527422614en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp2:5575en

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