prof.dr. W.B. (Wolf) Wagner

Rotterdam School of Management (RSM)
Erasmus University Rotterdam
Fellow ERIM
Field: Finance & Accounting
Affiliated since 2015

Wolf Wagner is a Professor of Finance at the Rotterdam School of Management and a fellow of CEPR. He is also a member of ERIM, EBC and a Senior Member of TILEC. His work has been published in the main finance journals, such as the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Review of Finance, Management Science, the Journal of Financial & Quantitative Analysis. Wolf Wagner's work focuses on banking and financial markets. Key themes in his research are the wider implications of financial innovation for the efficiency and stability of the financial system, as well as the role of diversity in creating a more resilient economy. Recent interests include cross-border banking, systemic risk in the insurance sector as well as lobbying and political activities at banks.

See Wolf Wagner's personal site for more information.

Publications

  • Academic (51)
    • Igan, D., Lambert, T., Wagner, W., & Zhang, E. Q. (2022). Winning connections? Special interests and the sale of failed banks. Journal of Banking and Finance, 140, [106496]. https://doi.org/10.1016/j.jbankfin.2022.106496

    • Stenzel, A., & Wagner, W. (2022). Opacity, liquidity and disclosure requirements. Journal of Business Finance and Accounting, 49(5-6), 658-689. https://doi.org/10.1111/jbfa.12574

    • Huizinga, H., Todtenhaupt, M., Voget, J., & Wagner, W. (2022). Taxation and the external wealth of nations: Evidence from bilateral portfolio holdings. Journal of International Money and Finance, 122, [102548]. https://doi.org/10.1016/j.jimonfin.2021.102548

    • Galil, K., Samuel , M., Offer, S., & Wagner, W. (2022). Bailouts and the Modeling of Bank Distress. Journal of Financial Research. https://doi.org/10.1111/jfir.12313

    • Lambert, T., Wagner, W., & Zhang, E. (2022). Banks, Political Capital, and Growth. Review of Corporate Finance Studies. https://doi.org/10.2139/ssrn.3753597

    • Ellul, A., Jotikasthira, C., Kartasheva, A., Lundblad, C., & Wagner, W. (Accepted/In press). Insurers as Asset Managers and Systemic Risk. Review of Financial Studies, 35(12), 5483-5534. https://doi.org/10.1093/rfs/hhac056

    • Beck, T., Buston Silva, C., & Wagner, W. (Accepted/In press). The economics of supranational bank supervision. Journal of Financial and Quantitative Analysis. https://doi.org/10.2139/ssrn.3130124

    • Kahn, C. M., & Wagner, W. (2021). Liquidity provision during a pandemic. Journal of Banking and Finance, 133, 10-33. [106152]. https://doi.org/10.1016/j.jbankfin.2021.106152

    • Bongaerts, D., Mazzola, F., & Wagner, W. (2021). Closed for business: The mortality impact of business closures during the Covid-19 pandemic. PLoS ONE, 16(5), e0251373. [e0251373]. https://doi.org/10.1371/journal.pone.0251373

    • Kahn, C., & Wagner, W. (2021). Sources of Liquidity and Liquidity Shortages. Journal of Financial Intermediation, 46, [100869]. https://doi.org/10.1016/j.jfi.2020.100869

    • Wagner, W. (2020). Variable Annuities and Systemic Risk. Réalités Industrielles - Annales des Mines. http://hdl.handle.net/1765/125167

    • Voget, J., Wagner, W., & Huizinga, Harry, H. (2018). Capital gains taxation and the cost of capital: Evidence from unanticipated cross-border transfers of tax base. Journal of Financial Economics, 129(2), 306-328. https://doi.org/10.1016/j.jfineco.2018.04.014

    • Bertay, AC., Gong, D., & Wagner, W. (2017). Securitization and economic activity: The credit composition channel. Journal of Financial Stability, 28(February), 225-239. https://doi.org/10.1016/j.jfs.2016.01.010

    • Horvath, B., & Wagner, W. (2017). The Disturbing Interaction between Countercyclical Capital Requirements and Systemic Risk. Review of Finance, 21(4), 1485. https://doi.org/10.1093/rof/rfx001

    • Marsh, I. W., & Wagner, W. (2016). News-Specific Price Discovery in Credit Default Swap Markets. Financial Management, 45(2), 315-340. https://doi.org/10.1111/fima.12095

    • Wagner, W., & Beck, THL. (2016). Supranational Supervision - How Much and for Whom? International Journal of Central Banking, 12(2), 221-268.

    • Marsh, I., & Wagner, W. (2015). News?Specific Price Discovery in Credit Default Swap Markets. Financial Management. http://hdl.handle.net/1765/115289

    • Huizinga, HP., Voget, J., & Wagner, W. (2014). International Taxation and Cross-Border Banking. American Economic Journal. Economic Policy, 6(2), 94-125. https://doi.org/10.1257/pol.6.2.94

    • Norden, L., Buston, C., & Wagner, W. (2014). Financial innovation and bank behavior: Evidence from credit markets. Journal of Economic Dynamics and Control. http://hdl.handle.net/1765/115290

    • Schoenmaker, D., & Wagner, W. (2013). Cross-border Banking in Europe and Financial Stability. International Finance, 16(1), 1-22. https://doi.org/10.1111/j.1468-2362.2013.12026.x

    • Wagner, W. (2013). Performance evaluation and financial market runs. Review of Finance, 17(2), 597-624.

    • Castiglionesi, F., & Wagner, W. (2013). On the efficiency of bilateral interbank insurance. Journal of Financial Intermediation, 22(2), 177-200. https://doi.org/10.1016/j.jfi.2012.07.002

    • Beck, THL., Todorov, RI., & Wagner, W. (2013). Supervising cross-border banks. Economic Policy, 28(73), 5-44.

    • Pfajfar, D., Sgro, G., & Wagner, W. (2012). Are alternative currencies a substitute or a complement to fiat money? Evidence from cross-country data. International Journal of Community Currency Research, 16(D), 45-56.

    • Huizinga, HP., Voget, J., & Wagner, W. (2012). Who bears the burden of international taxation? Evidence from cross-border M&As. Journal of International Economics, 88(1), 186-197. https://doi.org/10.1016/j.jinteco.2012.02.013

    • Castiglionesi, F., & Wagner, W. (2012). Turning Bagehot on his head. Journal of Money, Credit, and Banking, 44(1), 201-219. https://doi.org/10.1111/j.1538-4616.2011.00473.x

    • Knaup, M., & Wagner, W. (2012). A market-based measure of credit quality and bank performance during the subprime crisis. Management Science, 58(8), 1423-1437. https://doi.org/10.1287/mnsc.1110.1501

    • Knaup, M., & Wagner, W. (2012). Forward-looking tail risk exposures at US bank holding companies. Journal of Financial Services Research, 42(1-2), 35-54. https://doi.org/10.1007/s10693-012-0131-5

    • Wagner, W. (2011). Systemic liquidation risk and the diversity-diversification trade-off. The Journal of Finance, 66(4), 1141-1175. https://doi.org/10.1111/j.1540-6261.2011.01666.x

    • Wagner, W., & Nijskens, RGM. (2011). Credit risk transfer activities and systemic risk. Journal of Banking and Finance, 35(6), 1391-1398. https://doi.org/10.1016/j.jbankfin.2010.10.001

    • Wagner, W. (2010). Diversification at financial institutions and systemic crises. Journal of Financial Intermediation, 19(3), 373-386. https://doi.org/10.1016/j.jfi.2009.07.002

    • Wagner, W. (2010). In the quest of systemic externalities. CESifo Economic Studies, 56(1), 96-111. https://doi.org/10.1093/cesifo/ifp022

    • Wagner, W. (2010). Loan market competition and bank risk taking. Journal of Financial Services Research, 37(1), 71-81. https://doi.org/10.1007/s10693-009-0073-8

    • Wagner, W. (2010). Divestment, entrepreneurial incentives and the life cycle of the firm. Journal of Business Finance and Accounting, 37(5-6), 591-611. https://doi.org/10.1111/j.1468-5957.2010.02184.x

    • Eijffinger, SCW., & Wagner, W. (2010). Incentive constraints and the pattern of international risk sharing. Journal of International Money and Finance, 29(7), 1206-1225. https://doi.org/10.1016/j.jimonfin.2010.06.002

    • Wagner, W. (2009). Efficient asset allocations in the banking sector and financial regulation. International Journal of Central Banking, 5(1), 75-95.

    • Fecht, F., & Wagner, W. (2009). The marketability of bank assets and managerial rents. Journal of Financial Stability, 5(3), 272-282. https://doi.org/10.1016/j.jfs.2009.05.002

    • Wagner, W. (2009). Banking fragility and liquidity creations. Annals of Finance, 5(1), 125-129. https://doi.org/10.1007/s10436-008-0095-5

    • Wagner, W. (2008). The homogenization of the financial system and financial crises. Journal of Financial Intermediation, 17(3), 330-356. https://doi.org/10.1016/j.jfi.2008.01.001

    • Wagner, W. (2008). The homgenization of the financial system and liquidity crises. Journal of Financial Intermediation, 17(3), 330-356.

    • Norden, L., & Wagner, W. (2008). Credit derivatives and loan pricing. Journal of Banking and Finance, 32(12), 2560-2569. https://doi.org/10.1016/j.jbankfin.2008.05.006

    • Eijffinger, SCW., & Wagner, W. (2008). Efficiency of capital taxation in an open economy. International Tax and Public Finance, 15(6), 636-646. https://doi.org/10.1007/s10797-008-9087-7

    • Wagner, W. (2007). International risk sharing and government moral hazard. Open Economies Review, 18(5), 577-598. https://doi.org/10.1007/s11079-007-9006-z

    • Wagner, W. (2007). Aggregate liquidity shortages, idiosyncratic liquidity smoothing and banking regulation. Journal of Financial Stability, 3(1), 18-32. https://doi.org/10.1016/j.jfs.2007.01.001

    • Wagner, W. (2007). The liquidity of bank assets and banking stability. Journal of Banking and Finance, 31(1), 121-139. https://doi.org/10.1016/j.jbankfin.2005.07.019

    • Wagner, W. (2007). Financial development and the opacity of banks. Economics Letters, 97(1), 6-10. https://doi.org/10.1016/j.econlet.2007.02.006

    • Knaup, M., & Wagner, W. (2006). The implications of performance evaluation for the stability of financial markets. FSR Forum, 9, 29-35.

    • Calcagno, R., & Wagner, W. (2006). Dispersed initial ownership and the efficiency of the stock market under moral hazard. Journal of Mathematical Economics, 42(1), 36-45. https://doi.org/10.1016/j.jmateco.2004.11.003

    • Wagner, W., & Marsh, I. (2006). Credit risk transfer and financial sector stability. Journal of Financial Stability, 2(2), 173-193. https://doi.org/10.1016/j.jfs.2005.11.001

    • Marsh, I., & Wagner, W. (2004). Safety features for credit derivatives. The Financial Regulator, 9(1), 38-43.

    • Alexander, K., & Wagner, W. (2004). Excess capital. The Financial Regulator, 9(3), 58-63.

  • Popular (3)
  • Professional (2)
  • Academic (3)
    • Allen, F., Beck, THL., Carletti, E., Lane, P., Schoenmaker, D., & Wagner, W. (2011). Cross-Border Banking in Europe. CEPR.

    • Eijffinger, SCW., & Wagner, W. (2002). Taxation if Capital is Not Perfectly Mobile. Economic Policy Research Unit (EPRU).

    • Eijffinger, SCW., & Wagner, W. (2001). The Feasible Gains from International Risk Sharing. CEPR.

  • Academic (1)
    • Wagner, W. (2014). Unintended consequences of macroprudential policies. In Macroprudentialism (pp. 105-113). CEPR Press.

  • Internal (1)
    • Wagner, W. (2002). Risk sharing under incentive constraints. [Doctoral Thesis, Tilburg University]. Tilburg University.

  • Academic (14)
    • Peersman, G., & Wagner, W. (2014). Shocks to Bank Lending, Risk-Taking, Securitization, and Their Role for U.S. Business Cycle Fluctuations.

    • Stenzel, A., & Wagner, W. (2013). Asset Opacity and Liquidity.

    • Schaeck, K., Silva Buston, CF., & Wagner, W. (2013). The Two Faces of Interbank Correlation.

    • Marsch, I., & Wagner, W. (2012). Why is Price Discovery in Credit Default Swap Markets News-Specific?.

    • Beck, THL., Todorov, RI., & Wagner, W. (2011). Bank Supervision Going Global? A Cost-Benefit Analysis (Replaced by CentER DP 2012-059).

    • Beck, THL., Todorov, RI., & Wagner, W. (2011). Bank Supervision Going Global? A Cost-Benefit Analysis (Replaced by EBC DP 2012-015).

    • Huizinga, HP., Voget, J., & Wagner, W. (2011). International Taxation and Cross-Border Banking.

    • Knaup, M., & Wagner, W. (2009). A Market Based Measure of Credit Quality and Banks' Performance During the Subprime Crisis.

    • Wagner, W. (2007). Loan Market Competition and Bank Risk-Taking.

    • Wagner, W. (2006). The Broadening of Activities in the Financial System.

    • Goderis, BVG., Marsh, I., Vall Castello, J., & Wagner, W. (2006). Bank Behavior with Access to Credit Risk Transfer Markets.

    • Calcagno, R., & Wagner, W. (2003). The Inefficiency of the Stock Market Equilibrium under Moral Hazard.

    • Wagner, W. (2002). Divestment, Entrepreneurial Incentives and the Decision to go Public.

    • Wagner, W. (2000). Decentralized International Risk Sharing and Governmental Moral Hazard.

  • Role: Member Doctoral Committee
  • PhD Candidate: Eden Quxian Zhang
  • Time frame: 2012 - 2018
  • Role: Promotor
  • PhD Candidate: Francesco Mazzola
  • Time frame: 2018 -
  • Role: Promotor
  • PhD Candidate: Taavi Mandel
  • Time frame: 2017 -
  • Role: Member Doctoral Committee
  • PhD Candidate: Lingtian Kong
  • Time frame: 2012 - 2019
  • Role: Promotor
  • PhD Candidate: Francesca Caucci
  • Time frame: 2022 -
2016
March
23

Address

Visiting address

Office: Mandeville Building T08-31
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands