Publications des institutions partenaires
Bezug des Vorkapitals ist ein Problem für die anderen
Rentner, die sich ihr Vermögen aus der Pensionskasse auszahlen lassen, sind später eher auf Ergänzungsleistungen angewiesen
Institution partenaire
/ 01/04/2016
Dynamisches Finanzierungsverhalten von Unternehmen und Folgen für Geschäfts- und Zentralbanken
Ein breiter empirischer Befund und neue Erklärungen führen auf drei Verhaltensweisen, mit denen Unternehmen in ihrer Kreditnachfrage auf Zinsänderungen reagieren. Dadurch wird ein Beitrag zum Verständnis der Wirkung der Zins- und Geldpolitik geleistet.
Institution partenaire
Deutsch / 08/03/2016
Social Norms and Strategic Default
This paper studies the behavioral mechanisms underlying the increase in strategic defaults during an economic crisis. We report data from a laboratory experiment in which we exogenously vary the state of the economy. Our data reveal two main reasons for why an economic contraction adversely affects repayments. First, weak economic conditions seem to soften debtors' moral...
Institution partenaire
English / 07/03/2016
Wasserkraft: Wiederherstellung der Wettbewerbsfähigkeit
Die Schweizer Wasserkraft soll für die zukünftige Energieversorgung im zentraleuropäischen Raum eine wichtige Rolle spielen. Dies kann sie aber nur, wenn sie wieder rentabel wird.
Um die im aktuellen Marktumfeld schlechte Rentabilität von Wasserkraftwerken zu verbessern, sollten einerseits die Energieversorgungsunternehmen: neue Handelsstrategien auf den Strommärkten...
Institution partenaire
Deutsch / 01/03/2016
Was wir von der Krise in Island lernen können
Ein festes Grundeinkommen ohne Bedingungen macht die Menschen nicht kreativ und frei,sondern träge und bequem
Institution partenaire
/ 01/03/2016
The Economic Drivers of Differences in House Price Inflation Rates across MSAs
This study examines why monetary policy at the national level can have vastly different effects on appreciation rates of single family houses across metropolitan statistical areas (MSAs). The study employs Case/Shiller monthly house price index data for 19 MSAs from 1992:06 to 2014:12 and FHFA quarterly house price index data for 94 MSAs from 1992:3 to 2014:4. We model the importance...
Institution partenaire
English / 01/03/2016
Uniform-Price Auctions for Swiss Government Bonds: Origin and Evolution
The Swiss Treasury has used the sealed-bid, uniform-price auction format for allocating government bonds since 1980. In this study, we examine the authorities’ motivation for choosing the uniform-price auction. In addition, we describe how the institutional set-up evolved over time. It includes bidding requirements, class of bidders, pre-auction information, the bidding process, the...
Institution partenaire
English / 01/03/2016
Could the Recently Enacted Data Localization Requirements in Russia Backfire?
In the wake of ex-NSA contractor Edward Snowden's surveillance revelations to the global public, and despite an unimpeded cross-border data flow and knowledge transfer being a pre-requisite for the development of the digital economy, governments around the world are increasingly tending to resort to mandatory local data storage and to restrictions and bans on data transfers in a...
Institution partenaire
English / 22/02/2016
The finite sample performance of estimators for mediation analysis under sequential conditional independence
Using a comprehensive simulation study based on empirical data, this paper investigates the finite sample properties of different classes of parametric and semi-parametric estimators of (natural or pure) direct and indirect causal effects used in mediation analysis under sequential conditional independence assumptions. The estimators are based on regression, inverse probability...
Institution partenaire
English / 01/02/2016
Das ständige Gefühl, zu kurz zu kommen
Die AHV kennt nicht nur eine Strafe für Verheiratete, sondern
auch eine für Alleinstehende, Mütter oder für Mehrlings-Eltern
Institution partenaire
Deutsch / 01/02/2016
Die Haftung des Arbeitgebers bei Berufsunfällen und Berufskrankheiten
Gemäss Statistik per 2014 ereignen sich täglich über 700 Berufsunfälle. Alle diese Unfälle müssen finanziell und haftungstechnisch abgewickelt werden. In der Regel wird dabei der Arbeitgeber den Unfall bei der Unfallversicherung melden, welche anschliessend die anfallenden Kosten und weitgehend den Lohnausfall übernimmt. Allerdings ergeben sich bei der Abwicklung zahlreiche Probleme...
Institution partenaire
Deutsch / 01/02/2016
The Determinants of Efficiency and Productivity in the Swiss Insurance Industry
Using state-of-the-art frontier efficiency methodologies, we study the efficiency and productivity of Swiss insurance companies in the life, property/casualty, and reinsurance sectors from 1997-2013. In this context, we provide the first empirical analysis of internationalization strategies of insurance companies, a topic of high interest in the business and economics literature, but...
Institution partenaire
English / 16/01/2016
Basel III versus Solvency II: An Analysis of Regulatory Consistency under the New Capital Standards, Presentation at the 50th Annual Meeting of the Western Risk and Insurance Association (WRIA) (Maui, USA)
Institution partenaire
English / 03/01/2016
Moral Capabilities and Institutional Innovation - An Extended Transaction Cost Approach
When facing complex ethical problems, assigning responsibility is a difficult undertaking with far-reaching consequences. Chapter 3 by Thomas Beschorner and Martin Kolmar addresses this foundational issue by arguing for a multilevel approach that rejects this either/or thinking of moral actions versus institutions. It proposes using an extended transaction cost approach (inspired by...
Institution partenaire
English / 01/01/2016
The Swing Voter's Curse in Social Networks
We study private communication between jury members who have to decide
between two policies in a majority vote. While interests of all agents are perfectly aligned, only some agents ("experts") receive a private noisy signal about which policy is correct. Each expert can, but need not, recommend a policy to her audience of "non-experts" prior to the vote. We...
Institution partenaire
English / 01/01/2016
Wenn das Geschlecht die Leistung bestimmt
Stereotype über Männer und Frauen sind die schlimmsten Feinde der Gleichberechtigung. Dabei gäbe es Mittel dagegen.
Institution partenaire
Deutsch / 01/01/2016
Employment and Earnings Effects of Awarding Training Vouchers in Germany
Participation in intensive training programs for the unemployed in Germany is allocated by awarding training vouchers. Using rich administrative data for all vouchers and actual program participation,
the authors provide first estimates of the short-run and long-run employment and earnings effects of receiving a training voucher award based on a selection-on-observables...
Institution partenaire
English / 01/01/2016
Characteristics-based Porfolio Choice with Leverage Constraints
We show that the introduction of a leverage constraint improves the practical implementation of characteristics-based portfolios. The addition of the constraint leads to significantly lower transaction costs, to a reduction of negative portfolio weights, and to a decrease in volatility and misspecification risk. Furthermore, it allows investors to implement any desired level of...
Institution partenaire
English / 01/01/2016
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