Publications des institutions partenaires
241 - 260 of 1296
Taking Banks to Solow
We develop a simple integration of banks into the Solow model. The objective is to provide a tractable benchmark for analyzing the long-term impact of crises on economic activities and growth. A fraction of firms have to rely on banks for financing their investments while banks face themselves an endogenous leverage constraint. Informed lending by banks and uninformed lending through…
Institution partenaire
English / 24/02/2015
Quantification and characteristics of household inflation expectations in Switzerland
Inflation expectations are a key variable in conducting monetary policy. However, these expectations are generally unobservable and only certain proxy variables exist, such as surveys on inflation expectations. This article offers guidance on the appropriate quantification of household inflation expectations in the Swiss Consumer Survey, where answers are qualitative in nature. We…
Institution partenaire
English / 13/02/2015
Collateral requirements and asset prices
Many assets derive their value not only from future cash flows but also from their ability to serve as collateral. In this paper, we investigate this collateral premium and its impact on asset returns in an infinite-horizon general equilibrium model with heterogeneous agents facing col- lateral constraints for borrowing. We document that borrowing against collateral substantially…
Institution partenaire
English / 01/02/2015
The shadow cost of repos and bank liability structure
Making use of a structural model that allows for optimal liquidity management, we study the role that repos play in a bank's financing structure. In our model the bank's assets consist of illiquid loans and liquid reserves and are financed by a combination of repos, long--term debt, deposits and equity. Repos are a cheap source of funding, but they are subject to an…
Institution partenaire
English / 27/01/2015
Nein zum Diktat des Englischen an Schweizer Hochschulen
Institution partenaire
Deutsch / 04/01/2015
Droit des contrats : partie générale et contrats spéciaux
Institution partenaire
Français / 01/01/2015
Développements du droit suisse des OPA
Les auteurs ont choisi de retenir quatre aspects de la pratique de la Commission des OPA (COPA): le champ d'application matériel et géographique de la législation suisse sur les OPA, les transactions relatives à des sociétés ayant exclu l'offre obligatoire par une clause statutaire (opting out), la possibilité d'introduire dans l'offre une condition relative à la…
Institution partenaire
Français / 01/01/2015
Opting Out
Partant de l'exemple de l'achat de la société Pretium SA par la société Novarest Real Estate SA, cet article décrit la pratique de la Commission des OPA en matière de validation des clauses d'opting out.
Institution partenaire
Deutsch / 01/01/2015
Les adolescents ont droit au secret médical : pourquoi la LAMal n'en tient-elle pas compte?
Dès lors que le législateur et les tribunaux reconnaissent le droit à l’auto-détermination du patient mineur et le droit au respect de la sphère privée du patient mineur, ils devraient logiquement assurer la réalisation de ses droits dans le domaine de l’assurance.
Institution partenaire
Français / 01/01/2015
Corporate Social Responsibility, Sustainable Development et Corporate Governance: quelle corrélation?
Institution partenaire
Français / 01/01/2015
Le droit du design = Design Law : Actes de la Journée de droit de la propriété intellectuelle du 5 février 2015
Institution partenaire
Français / 01/01/2015
OPPRIM: Opportunity-Enabled Risk Management for Trust and Risk-Aware Asset Access Decision-Making
Nowadays BYOD and mobile work are a reality even if they challenge traditional security perimeters and risk management that mainly focus on the threats that these mobile opportunities create. They do not consider their potential benefits, e.g., if a user cannot work when being paid then the productivity is lower. It is the reason that in this paper we introduce a new risk management…
Institution partenaire
English / 01/01/2015
Towards a logic and chemical based coordination model
In this paper we propose a coordination model that integrates logic programs into a chemical-based coordination framework. The goal is to engineer self-organising systems as well as assess their emergent global properties. Our model is generic and accommodates various logics and it is also powerful enough to supersede various chemical-based approaches. By tuning the internal logic…
Institution partenaire
English / 01/01/2015
Un système d’aide pour développer les compétences numériques des étudiants à l’université
Développer les compétences numériques des étudiants est une tâche importante de l’université d’aujourd’hui. Pour soutenir et motiver les étudiants dans cette optique, nous travaillons à la création d’un système ayant deux objectifs : aider les étudiants à choisir leurs outils informatiques selon leurs activités d’apprentissage et les aider à démarrer leurs tâches de travail avec les…
Institution partenaire
Français / 01/01/2015
Inferring volatility dynamics and risk premia from the S&P 500 and VIX markets
Institution partenaire
English / 01/01/2015
Bank-firm relationships: A review of the implications for firms and banks in normal and crisis times
Banks are important providers of external finance to firms. In order to solve asymmetric information problems, firms and banks often engage in bank-firm relationships. Relationship banking occurs when a bank and a borrower enter multiple mutual interactions and both parties invest in obtaining some counterparty specific information, binding bank and firm, to a certain degree, to each…
Institution partenaire
English / 01/01/2015
Multivariate asset return prediction with mixture models
The use of mixture distributions for modeling asset returns has a long history in finance. New methods of demonstrating support for the presence of mixtures in the multivariate case are provided. The use of a two-component multivariate normal mixture distribution, coupled with shrinkage via a quasi-Bayesian prior, is motivated, and shown to be numerically simple and reliable to…
Institution partenaire
English / 01/01/2015
Robust capital requirements with model risk
We study capital requirements when the bank's econometric model only approximately describes the dynamics of portfolio returns—which is virtually always the case in practice. We derive a simple formula for capital requirements based on a first-order Taylor expansion of the Value at Risk around a ‘model confidence’ parameter. This formula allows to reflect the bank's…
Institution partenaire
English / 01/01/2015
Seiten
Le portail de l'information économique suisse
© 2016 Infonet Economy
