Publications des institutions partenaires
So far, so good: and now don't be afraid of moral hazard
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 23/03/2020
Mitigating the COVID economic crisis: act fast and do whatever it takes
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 23/03/2020
Thinking ahead about the trade impact of COVID-19
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 20/03/2020
Increasing trust in bankers to enhance savings: experimental evidence from India
According to economic theory, repeated interactions can play a crucial role in shaping trust. We randomly allocated people to treatments that promote interactions with bankers. Next, these people play incentivised trust games with their own banker and with an anonymous other banker. While the effect on trust in the own banker is limited, the impact on trust in other bankers is...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/03/2020
When government promise to prioritize public debt: do markets care ?
During the European sovereign debt crisis of 2011-13, some nations faced with rising borrowing costs adopted commitments to treat bondholders as priority claimants. That is, if there was a shortage of funds, bondholders would be paid first. In this article, we analyze the prevalence and variety of these types of commitments and ask whether they impact borrowing costs. We examine a...
Institution partenaire
Institut de hautes études internationales et du développement
English / 10/03/2020
Inflation expectations: review and evidence
This paper presents a comprehensive examination of the determination and evolution of inflation expectations, with a focus on emerging market and developing economies (EMDEs). The results suggest that long-term inflation expectations in EMDEs are not as well anchored as those in advanced economies, despite notable improvements over the past two decades. Indeed, in EMDEs, long-term...
Institution partenaire
Institut de hautes études internationales et du développement
English / 10/03/2020
The motive to borrow
Institution partenaire
Institut de hautes études internationales et du développement
English / 09/03/2020
BigTech and the changing structure of financial intermediation
We consider the drivers and implications of the growth of "BigTech" in finance – ie the financial services offerings of technology companies with established presence in the market for digital services. BigTech firms often start with payments. Thereafter, some expand into the provision of credit, insurance and money management products, either directly or in cooperation with...
Institution partenaire
Institut de hautes études internationales et du développement
English / 06/03/2020
Does leverage predict delinquency in consumer lending?: evidence from Peru
This paper examines to what extent household leverage—as measured by the debt-to-income (DTI) ratio—predicts delinquency in Peru’s consumer credit market. A model is estimated to assess the relation between delinquency and the DTI ratio. The initial and current DTI ratios are assessed as delinquency predictors. The results confirm that the current DTI ratio is effective for...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 05/03/2020
Globotics and development: when manufacturing is jobless and services are tradable
Globalization and robotics (globotics) are transforming the world economy at an explosive pace. While much of the literature has focused on rich nations, the changes are quite likely to affect developing nations in important ways. The premise of the paper - which should be regarded as a thought-piece - is based on an extreme thought experiment. What does development look like when...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 03/03/2020
China's offshore corporate dollar bonds
China's bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country's bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China's bond market structure, its unique...
Institution partenaire
Institut de hautes études internationales et du développement
English / 24/02/2020
Bayesian mixtures for large scale inference
Thèse de doctorat : Università della Svizzera italiana, 2020 ; 2020ECO001.
Institution partenaire
English / 20/02/2020
Euro area sovereign debt: restructuring options
Countries with large debts stocks are vulnerable to the vagaries of the markets. Confidence crises can arise out of nowhere, constricting access to the markets. Hence, the question arises as to whether these countries should put in place mechanisms that will help them better prepare for the possibility of crisis. In effect, the choice is whether to buy insurance. The cost of buying...
Institution partenaire
Institut de hautes études internationales et du développement
English / 14/11/2019
Narrativas, políticas y resultados del desarrollo alternativo en la región andina
Desde principios del 2000, muchos países latinoamericanos alcanzaron un notable crecimiento económico acompañado de la reducción de la pobreza y la desigualdad, debido en gran parte a la persistente aplicación del patrón secular de exportación de materias primas. El fin del superciclo de los precios de los las materias primas en 2014 puso en riesgo algunas de estas ganancias en...
Institution partenaire
Institut de hautes études internationales et du développement
English / 05/11/2019
Alternative development narratives, policies and outcomes in the Andean Region
Since the early 2000s, many Latin American countries achieved remarkable economic growth coupled with poverty and inequality reduction, largely due to the pursuit of a centuries-old pattern of commodity exports. The end of the commodity price super-cycle in 2014 puts some of these development gains in jeopardy, raising anxiety among emerging middle classes wary of slipping back into...
Institution partenaire
Institut de hautes études internationales et du développement
English / 05/11/2019
Le "fardeau" de la dette publique suisse: éclairages des recherches scientifiques et pistes pour le futur
The Swiss Federal government finances are in an excellent shape: debt is small (and decreasing), and carries a low interest rate. This paper reviews the prospects for the Swiss finances drawing on the recent literature. We argue that the current policy of running surpluses and paying down the debt is inefficient, and propose three alternatives. First, as the interest rate on the debt...
Institution partenaire
Institut de hautes études internationales et du développement
English / 17/10/2019
The financial development of London in the 17th century revisited: a view from the accounts of the Corporation of London
We study an overlooked episode of financial development in England during the 17th century. We construct a novel, annual series of interest rates paid by the Corporation of London. We show that: interest rates declined by 350 basis points; Interest rates co-moved with Amsterdam: we attribute half of this decline to the integration of the capital markets of London and Amsterdam and...
Institution partenaire
Institut de hautes études internationales et du développement
English / 01/10/2019
Finance and firm volatility: evidence from Alibaba FinTech Credit in China
The online trading platform Alibaba provides financial technology (FinTech) credit for millions of micro, small, and medium enterprises (MSMEs). Using an internal credit score threshold that governs the allocation of credit, we apply a Fuzzy Regression Discontinuity Design (RDD) to explore the causal effect of credit access on firm volatility. We find that credit access significantly...
Institution partenaire
Institut de hautes études internationales et du développement
English / 27/09/2019
Bank risk appetite in a world of CoCos
Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO015.
Institution partenaire
English / 25/09/2019
The Effects of Negative Consumer Online Product Reviews and Company-Based Response Strategies
Thèse de doctorat : Université de Fribourg, 2018.
Institution partenaire
/ 25/09/2019
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