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Que signifie "Swiss made" en termes de gestion des compétences : le cas de l'horlogerie

Thèse de doctorat : Université de Fribourg, 2019.

Institution partenaire

Université de Fribourg

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/ 25/09/2019

Essays on Randomized Information Campaigns and Nonparametric Mediation Analysis

Thèse de doctorat : Université de Fribourg, 2019.

Institution partenaire

Université de Fribourg

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/ 25/09/2019

The impact of environmental regulation on Chinese spatial development

We examine the relationship between environmental regulation and spatial development in China. Exploiting changes in national pollution standards for three industries, ammonia, paper and cement, we measure the impact of environmental regulation on industry productivity. Our results suggest that national pollution standards do not affect industry productivity, but they reallocate…

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English / 19/09/2019

Empirical Methods for Detecting Bid-rigging Cartels

Thèse de doctorat : Université de Fribourg, 2018.

Institution partenaire

Université de Fribourg

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/ 20/08/2019

Limits to the independence of the ECB

The ECB might seem to be the most independent central bank in the world. Its statutes were carefully designed to ensure independence and they are enshrined in an international treaty. Yet, while serving many governments may be a protection, it can also act as a constraint on policy decisions. This essay explains how the ECB has faced limits during the Eurozone crisis. First, it had…

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English / 02/08/2019

Taming the global financial cycle: what role for the global financial safety net?

An ongoing active debate considers the role of the Global Financial Cycle (GFC) in driving international capital flows - especially in emerging economies - as well as the policy options available to absorb their impact. We make two contributions to the debate. First, we rely on a structural measure of the GFC developed in a companion paper to identify episodes of large capital flows…

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English / 02/08/2019

Corporate debt, firm size and financial fragility in emerging markets

The post-Global Financial Crisis period shows a surge in corporate leverage in emergingmarkets and a number of countries with deteriorated corporate financial fragility indicators (Altman's Z-score). Firm size plays a critical role in the relationship between leverage, firm fragility and exchange rate movements in emerging markets. While the relationship between firm-leverage and…

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English / 30/07/2019

How FinTech enters China's credit market

How does FinTech credit mitigate local credit supply frictions in China's segmented credit market? In our simple theoretical models, we show that FinTech credit (i) expands the extensive margin of credit to borrowers of lower credit scores and (ii) provides relatively more credit to borrowers with lower credit scores. We confirm both predictions based on comprehensive data from one…

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English / 19/07/2019

Three essays in labor economics

Thèse de doctorat : Università della Svizzera italiana, 2019 ; 2019ECO003.

Institution partenaire

Università  della Svizzera italiana

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English / 01/07/2019

Oil prices, inflation expectations and monetary policy

The sharp declines in oil prices starting in late 2014 sparked a debate about their effect on inflation and the world economy (e.g. GEP January 2015). The decline in oil prices lowered inflation in the short run and in some cases pushed some economies that already experience very low inflation into deflation. More surprisingly, data from the US, Euro area, UK and Israel shows that…

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English / 28/06/2019

Has inflation targeting become less credible?

Beginning with the global financial crisis (2008) the correlation between crude oil prices and medium-term and forward inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices as a measure for global aggregate demand, we decompose nominal oil prices to a global demand factor and remaining factors. Using a…

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English / 28/06/2019

Nominal exchange rate dynamics and monetary policy: uncovered interest rate parity and purchasing power parity revisited

The increasing globalization of trade in goods and services and the deepening of financial markets have reduced frictions that may impede the operation of the PPP and UIP relationships in the short run. In this paper, we estimate the short term relative PPP and UIP relationships. Using data from Israel, which has a deep market for inflation expectations for 12 months, we show that…

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English / 28/06/2019

Tax administration and compliance: evidence from medieval Paris

We use tax and historical records to analyze the Parisian taille - an institution that resolved the tax compliance problem. The taille’s essential features were; an agreement between the king and city government to collect a fixed amount of revenue and a sequential collection process that included public revelation of individual tax assessments prior to their collection. Modelling…

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English / 28/06/2019

Access to banking, savings and consumption smoothing in rural India

Access to formal banking is increasing across the world and may transform how people manage their finances. We report from a field experiment that randomly provides access to a bank account to a representative sample of villagers in rural India. The treated respondents save actively into the account and their individual savings increase. There is, however, no significant impact on…

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English / 27/06/2019

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