Publications des institutions partenaires
Acquirers and financial constraints: theory and evidence from emerging markets
How do financial frictions shape the set of acquirers, how much they acquire, and how long they keep ownership? To address these questions, we develop a tractable model of M&As; whereby acquirers and targets emerge endogenously due to differences in liquidity. Financial crises lead to selection effects among acquirers that result in larger acquired stakes and more persistent...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 16/04/2018
Education, gender, religion, politics: what priorities for cultural integration policies in Switzerland?
This paper explores cultural integration paths of eight migrant groups in Switzerland. It specifically analyzes the evolution of objective behaviors and subjective attitudes of migrants from the first to the second generation. In order to deepen the analysis, the cultural integration of migrants is further examined from different perspectives: across cohorts (older vs. younger...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 16/04/2018
Down with diarrhea: using fuzzy Regression Discontinuity Design to link communal water supply with health
This paper contributes to the existing literature by demonstrating that the provision of communal water supply can be effective in improving child health if the targeted population shows adequate hygiene awareness and behavior. Until now, the fast growing body of literature on water development interventions could not establish a significant effect of communal water supply on health...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 16/04/2018
Fiscal multipliers for Bosnia and Herzegovina
The aim of this paper is to determine the size of fiscal multipliers (spending and tax multipliers) using a structural vector autoregressive model for Bosnia and Herzegovina (BiH). This is the first attempt of its kind for the BiH economy. The results show that the spending multiplier is higher than the tax multiplier, as expected. The tax multiplier has a negative effect on output...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Fiscal shocks and international production networks: an empirical investigation
Recently, a large literature has been developed from the production network models, to be applied in a diversity of fields as financial contagion, trade comovements or the aggregation of micro shocks. Thus, one theoretical implication introduced by Acemoglu et al. (2015), argue that demand-side shocks (i.e. government spending) spread through the production networks following...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Standards of proofs in sequential merger control procedures
We model merger control procedures as a process of sequential acquisition of information in which mergers can be cleared after a first phase of investigation. We find that the enforceability of clearance decisions at the end of the first phase is unattractive to the extent that it prevents the authorities to use their expectations as to whether evidence gathered in the first phase...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Things have changed (or Have they?): tariff protection and environmental concerns in the WTO
This paper considers the APEC and proposed EGA agreements which grant tariff concession in favor of "green" goods. We find that the practical signi cance of the APEC agreement should not be overestimated as it involves modest tariff concessions over a subset of goods which are not heavily traded. Still, these agreements involve a paradigm shift to the extent that they use tariffs...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Investment gaps in IDB borrowing countries
We estimate public investment gaps in a sample of developing countries using a public investment demand function. We then use GDP per capita projections, forecasts of structural transformation, and three SDG targets (poverty, infant mortality and lower secondary school completion) to predict public investment needs in 2030 among IDB borrowing countries. Our estimates suggest that in...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Trade re(im)balanced: the role of regional trade agreements
This paper documents the novel fact that Regional Trade Agreements (RTA) decrease bilateral trade imbalances as measured by conventional measure of the net export share in gross trade. While on average an RTA decreases bilateral trade imbalance by 7%, greater trade integration through a deeper RTA is associated with a reduction of up to 50% among the sample of over 160 countries...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Exchange rates, international trade and growth: re-evaluation of undervaluation
This paper shows that a regional bias resulting from trade integration alters the transmission of a country's monetary policy by shifting the burden of the exchange rate adjustment towards the less integrated trading partners. I first develop a simple model which illustrates how a concentration of trade flows among regional trading partners a↵ects the sensitivity of the trade balance...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 13/04/2018
Structural budget balances in oil-rich countries: the cases of Azerbaijan, Kazakhstan, and Russia
This study aims to analyse the discretionary fiscal policy of Azerbaijan, Kazakhstan, and Russia for the period 2003-2015 using the structural budget balance (SBB). The SBB considers the permanent component of oil revenue and therefore clearly defines the discretionary fiscal position and the aggregate demand effect of fiscal policy. The SBBs in Azerbaijan and Russia experience a...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 20/03/2018
Are fiscal rules helpful in mitigating the impact of oil market fluctuations?
In this paper we empirically examined the role of fiscal rules in mitigating the impact of oil market fluctuations in resource-rich economies using a structural panel VAR framework following P. Pedroni (2013) and incorporating identification scheme of Kilian (2009). Our key findings can be summarized as: l) oil exporting developing countries exhibit procyclical respond to positive...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 26/02/2018
How does environmental regulation shape economic development?: a tax competition model of China
We propose a novel theoretical framework to study how environmental regulation shapes economic development in a developing country such as China. We develop a dynamic tax competition model in which local governments, located in development zones, use variation in taxes to attract workers to their jurisdictions. Their objective is to maximize tax revenue less local health costs that...
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 20/02/2018
The Advocate General's opinion in Intel: more consistent enforcement across practices and instruments
Institution partenaire
Institut de hautes études internationales et du développement
Français, English / 19/02/2018
Guilty speculators? Range-based conditional volatility in a cross-section of wheat futures
In response to the unusually high levels of price volatility during the world food price crisis of 2007/2008, US and EU regulators have introduced position limits that aim to protect commodity markets from exposure to excess speculation. Such regulatory initiatives presuppose that excess speculation is indeed responsible for excess volatility. Our results debunk this presupposition...
Institution partenaire
English / 01/01/2018
Business Ethics and Human Rights. The Industrial Involvement in the Embeddedness of the Tibetan Community in Rikon, Switzerland: A Case Study
This case study discusses the complex socio-cultural and political dynamics of the Tibetan Diaspora in Switzerland from a multilayer perspective of history, human rights, law, international business, social and developmental economics. We focus on the village Rikon in Tösstal, Canton Zurich as an example of social embeddedness for refugees driven by the Kuhn-Rikon industry and...
Institution partenaire
English / 01/01/2018
In search of new product ideas: Identifying ideas in online communities by machine learning and text mining
Online communities are attractive sources of ideas relevant for new product development and innovation. However, making sense of the ‘big data’ in these communities is a complex analytical task. A systematic way of dealing with these data is needed to exploit their potential for boosting companies' innovation performance. We propose a method for analysing online community data...
Institution partenaire
English / 09/12/2017
"Principled Embeddedness": How foreign direct Investment may contribute to inclusive and sustainable growth in developing economies?
Foreign direct investment (FDI) plays a crucial role in enabling developing economies to embark on a path of inclusive growth. This applies in particular if local subsidiaries of multinational enterprises (MNEs) are committed to ‘principled embeddedness’ meaning that they are prepared to integrate parts of the local economy into global value chains by enabling them to comply with the...
Institution partenaire
English / 23/11/2017
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