infonet-economy

This paper aims at deriving the market's assessment as to whether banks worldwide still benefit from a Too Big To Fail (TBTF) subsidy. Such a subsidy reflects the market's expectation of government support in the event of a crisis and results in reduced funding costs for the benefiting bank. To capture this effect, we use two different extensions of the Merton (1974) framework. We…

Ollier, Joseph; Neff, Simon; Dworschak, Christine; Sejdiji, Arber; Santhanam, Prabhakaran; Keller, Roman; Xiao, Grace; Asisof, Alina; Rüegger, Dominik; Bérubé, Caterina; Hilfiker Tomas, Lena; Neff, Joël; Yao, Jiali; Alattas, Aishah; Varela-Mato, Veronica; Pitkethly, Amanda; Vara, Mª Dolores; Herrero, Rocío; Baños, Rosa Mª; Parada, Carolina; Agatheswaran, Rajashree Sundaram;…

Chinese firms have been widely seen as imitative. This historical case study explores what organizational mechanisms allowed Tencent, a Chinese firm in the fast-changing instant messaging (IM) service sector, to achieve a new-to-the-world innovation with its WeChat smartphone app. Tracing the competitive dynamics in the Chinese IM sector from its inception, we found that Tencent was…

Bolli, Thomas; Caves, Katherine M.; Dändliker, Lena; Morlet, Guillaume Maxence; Pusterla, Filippo; Rageth, Ladina; Renold, Ursula; Sritharan, Aranya

In: uwf UmweltWirtschaftsForum, 2015, vol. 23, no. 4, p. 265-277

Thèse de doctorat : Université de Fribourg, 2021.

Since the financial crisis, major central banks have introduced negative interest rates with the help of tiered reserve remuneration. We theoretically and empirically investigate monetary policy implementation via reserve tiering using a unique bank-level dataset from Switzerland. We find that reserve tiering can successfully be used to steer short-term interest rates. Furthermore,…

Bohn, Frank; Sturm, Jan-Egbert

Beck, Mathias; Lehmann, Selina; Wörter, Martin