Archiv/ Research

Working papers by Isabel Schnabel can be downloaded here. Other working papers are available on the authors’ websites (see Team).

Banking Regulation


  • Hakenes, H., Schnabel, I.: Bank Bonuses and Bail-outs, Journal of Money, Credit, and Banking, 2014, 46(1), 259-288.
  • Schäfer, A., Schnabel, I., Weder di Mauro, B.: Financial Sector Reform After the Crisis: Has Anything Happened?, 2013, CEPR Discussion Paper No. 9502.
  • Hakenes, H., Schnabel, I.: Capital Regulation, Bank Competition, and Financial Stability, Economics Letters, 2011, 113, 256-258.
  • Hakenes, H., Schnabel, I.: Bank Size and Risk-Taking under Basel II, Journal of Banking and Finance, 2011, 35, 1436-1449.
  • Gropp, R., Hakenes, H., Schnabel, I.: Competition, Risk-Shifting, and Public Bail-out Policies, Review of Financial Studies, 2011, 24(6), 2084-2120. 
  • Hakenes, H., Schnabel, I.: Banks without Parachutes – Competitive Effects of Government Bail-out Policies, Journal of Financial Stability, 6, 2010, 156-168.
  • Hakenes, H., Schnabel, I.: The Regulation of Credit Derivative Markets, in Dewatripont, M., Freixas, X., and Portes, R. (eds.) Macroeconomic Stability and Financial Regulation: Key Issues for the G20, 2009, 113-127. Centre for Economic Policy Research (CEPR), E-Book, available at
  • Hakenes, H., Schnabel, I.: Welchen Einfluss haben staatliche Garantien auf die Risikoübernahme von Banken? [How Do Public Guarantees Affect Banks’ Risk-Taking?], Jahrbuch der Max-Planck-Gesellschaft, 2007, 199-202.
  • Schnabel, I.: The divorce between macro financial stability and micro supervisory responsibility: are we now in for a more stable life? – Comment, Monetary Policy and Financial Stability, Proceedings of the 33rd Economics Conference, Oesterreichische Nationalbank, Vienna, 2005, 164-171.



Financial Stability

  • Barth, A., Schnabel, I.: Why Banks Are Not Too Big To Fail - Evidence from the CDS Market, Economic Policy, 28(74), 2013, 335-369.
  • Schnabel, I.: Lessons from Financial Crises – Historical Perspectives and Theoretical Concepts, in Bankhistorisches Archiv, Beiheft 47, 2010, 89-97. 31. Symposium des Instituts für bankhistorische Forschung.
  • Schnabel, I.: The Role of Liquidity and Implicit Guarantees in the German Twin Crisis of 1931, Journal of International Money and Finance, 28, 2009, 1-25.
  • Abbassi, P., Schnabel, I.: Contagion Among Interbank Money Markets During the Subprime Crisis, Version 2009, Working Paper.
  • Schnabel, I.: The German Twin Crisis of 1931,  Journal of Economic History, 64(3), September 2004, 822-871.
  • Schnabel, I.: Reply to Thomas Ferguson and Peter Temin's Comment on 'The German Twin Crisis of 1931', Journal of Economic History, 64(3), September 2004, 877-878.
  • Schnabel, I., Shin, H. S.: Liquidity and Contagion: The Crisis of 1763, Journal of the European Economic Association, 2(6), December 2004, 929-968.
  • Financial Systems and Institutions


  • Schäfer, A., Weder di Mauro, B., Schnabel, I.: Financial Sector Reform After the Crisis: Has Anything Happened?, Review of Finance, forthcoming. 
  • Körner, T., Schnabel, I.: Public Ownership of Banks and Economic Growth: The Impact of Country Heterogeneity, Economics of Transition, 2011, 19(3), 407-441.
  • Bonin, John. P., Schnabel, I.: The great transformation: From government-owned to foreign-controlled banking sectors. A symposium on banking in transition, Economics of Transition, 2011, 19(3), 397-405.
  • Hakenes, H., Schnabel, I.: Credit Risk Transfer and Bank Competition, Journal of Financial Intermediation, 2010, 19(3), 308-332. 
  • Hakenes, H., Schnabel, I.: The Threat of Capital Drain: A Rationale for Public Banks?, Journal of Institutional and Theoretical Economics (JITE), 2010, 166(4), 662-689.
  • Schnabel, I., Shin, H. S.: The ‘Kipper- und Wipperzeit’ and the Foundation of Public Deposit Banks, Version 2009, Working Paper.
  • Hakenes, H., Schnabel, I.: Regionale Banken in einer globalisierten Welt,  Kredit und Kapital, 2007, 40(3): 351-380.
  • Hakenes, H., Schnabel, I.: Braucht Deutschland eine ‘private starke deutsche Bank’? Über die Notwendigkeit nationaler Champions im Bankwesen, [Is there a Need for a ‘Strong Private German Bank’? On the Desirability of National Champions in the Banking Sector], Kredit und Kapital, 2006, 39(2): 163-181.
  • Carletti, E., Hakenes, H, Schnabel, I.:  The Privatization of Italian Savings Banks – A Role Model for Germany?, DIW Quarterly Journal of Economic Research (Vierteljahrshefte für Wirtschaftsforschung), 2005, 74(4): 32-50.





    International Capital Flows

  • Friedrich, C., Schnabel, I., Zettelmeyer, J.: Financial Integration and Growth – Why Is Emerging Europe Different?, Journal of International Economics, 2013, 89, 522-538. (Corrigendum)
  • Dell'Ariccia, G., Schnabel, I., Zettelmeyer, J.: How Do Official Bailouts Affect the Risk of Investing in Emerging Markets?, Journal of Money, Credit, and Banking, October 2006, 38(7): 1689-1714.
  • Monetary Policy and Central Banking

  • Abbassi, P., Linzert, T.: "The Effectiveness of Monetary Policy in Steering Money Market Rates During the Recent Financial Turmoil", European Central Bank Working Paper, 2011, 1328, PDF.
  • Abbassi, P., Nautz, D.: Monetary Transmission Right from the Start: The (Dis)Connection Between the Money Market and the ECB's Main Refinancing Rates,  SFB Discussion Paper, 2010, 019, PDF.
  • Abbassi, P., Nautz, D., Offermanns, C.: "Interest Rate Dynamics and Monetary Policy Implementation in Switzerland, Swiss Journal of Economics and Statistics, 2010, 146(1), 313-340.