infonet-economy

Wüpper, David Johannes; Borrelli, Pasquale; Mueller, Daniel; Finger, Robert

Blum, Nicola U.; Haupt, Mélanie; Bening, Catharina R.

Britz, Volker; Gersbach, Hans

KOF Konjunkturforschungsstelle der ETH Zürich

Khoshnama, Mahsa; Kopp, Daniel; Siegenthaler, Michael

This paper quantifies Switzerland's gains from trade using a multi-country multi-sector general equilibrium Ricardian trade model. The model calibration relies on a novel data source on sectoral linkages to provide a Switzerland-centric analysis. I find that using this novel dataset generates 13.4% higher estimates of the gains from trade for Switzerland, as other data sources tend…

Bolli, Thomas; Caves, Katherine M.; Pusterla, Filippo; Rageth, Ladina; Renold, Ursula; Sritharan, Aranya; Trachsel Díaz-Tejeiro, Sandra

Bolli, Thomas; Caves, Katherine M.; Pusterla, Filippo; Rageth, Ladina; Renold, Ursula; Sritharan, Aranya

A growing body of literature has highlighted two important caveats to the credit-to-GDP gap as advocated by the Bank for International Settlements (BIS). The first relates to the approach used to normalise credit (i.e., dividing nominal credit by GDP). In this regard, critics have argued that a normalised measure of credit runs the risk of being affected by GDP movements that may or…