Publications des institutions partenaires

S'abonner aux flux infonet economy   1 - 20 of 11418

Democratic epistemology and democratic morality: the appeal and challenges of peircean pragmatism

Does the wide distribution of political power in democracies, relative to other modes of government, result in better decisions? Specifically, do we have any reason to believe that they are better qualitatively – more reasoned, better supported by the available evidence, more deserving of support – than those which have been made by other means? In order to answer this question we...

Institution partenaire

Université de Genève

Full Text

English / 01/01/2018

Petra Gerlach-Kristen, Richhild Moessner and Rina Rosenblatt-Wisch: Computing long‐term market inflation expectations for countries without inflation expectation markets

We derive daily market‐based domestic long‐term inflation expectations for eight countries without inflation swap markets. To do so, we use foreign inflation swaps together with (1) foreign and domestic interest rate swaps assuming that purchasing power parity (PPP) and uncovered interest rate parity (UIP) hold or together with (2) spot and forward exchange rates assuming...

Institution partenaire

Banque nationale suisse

Full Text

English / 20/09/2017

Andreas M. Fischer, Rafael Greminger and Christian Grisse: Portfolio rebalancing in times of stress

This paper investigates time variation in the dynamics of international portfolio equity flows. We extend the empirical model of Hau and Rey (2004) by embedding a two-state Markov regime-switching model into the structural VAR. The model is estimated using monthly data for the period 1995-2015 on equity returns, exchange rate returns and equity flows between the United States and...

Institution partenaire

Banque nationale suisse

Full Text

English / 20/09/2017

Christian Grisse and Silvio Schumacher: The response of long-term yields to negative interest rates: evidence from Switzerland

This paper studies the transmission of changes in short-term interest rates to longer-term government bond yields when interest rates are at very low levels or negative. We focus on Switzerland, where short-term interest rates have been at zero since late 2008 and negative since the beginning of 2015. The expectations hypothesis of the term structure implies that as nominal interest...

Institution partenaire

Banque nationale suisse

Full Text

English / 20/09/2017

Evaluation of business services from a buyer’s perspective: the service type as a distinctive feature

Due to increasing market competition, the purchasing and the measurement of the quality of goods and services can be considered as an essential task within a company. While goods purchasing and evaluation is a well-known process, research on acquisition and evaluation of business services still barely exists. Although the importance of service quality aspects seems obvious, existing...

Full Text

English / 15/09/2017

A process for co-creating shared value with the crowd: tourism case studies from a regional innovation system in western Switzerland

Despite the presence of a regional innovation system, the gross value added attributed to tourism in the Swiss region of Valais is declining. Innovation policies fostering private initi-atives and collaboration between companies, researchers, and coaching services have been reinforced recently, and policy instruments are in place to support strategic indus-tries. However, no...

Institution partenaire

Haute Ecole de Gestion de Genève

Full Text Full Text

English / 11/09/2017

Human Barriers to International Trade

This paper investigates whether the relatedness of populations across the world shapes international trade flows. Using data on common ancestry for 172 countries covering more than 99% of global trade, we document that country pairs with a larger ancestral distance are less likely to trade with each other (extensive margin) and, if they do trade, they trade fewer goods and smaller...

Full Text

/ 10/09/2017

Contests with small noise and the robustness of the all-pay auction

This paper considers all-pay contests in which the relationship between bids and allocations reflects a small amount of noise. Prior work had focused on one particular equilibrium. However, there may be other equilibria. To address this issue, we introduce a new and intuitive measure for the proximity to the all-pay auction. This allows, in particular, to provide simple conditions...

Full Text

English / 01/09/2017

Gregor Bäurle, Matthias Gubler and Diego R. Känzig: International inflation spillovers - the role of different shocks

We analyze how the transmission of international inflation spillovers depends on the nature of the underlying shocks that drive inflation abroad. We find evidence for substantial heterogeneity in the magnitude of spillovers to domestic inflation related to the fundamental source of international price fluctuations and the corresponding monetary policy reactions. Indeed, it turns out that...

Institution partenaire

Banque nationale suisse

Full Text

English / 31/08/2017

Alain Galli: Which indicators matter? Analyzing the Swiss business cycle using a large-scale mixed-frequency dynamic factor model

For policy institutions such as central banks, it is important to have a timely and ac-curate measure of past and current economic activity and the business cycle situation. The most prominent example for such a measure is gross domestic product (GDP). However, GDP is only released at a quarterly frequency and with a substantial delay. Furthermore, it captures elements that are not...

Institution partenaire

Banque nationale suisse

Full Text

English / 29/08/2017

Vollgeld ist liberal

Abgedruckter Leserbrief zum "Gastkommentar" von Dirk Niepelt, "Die Kunden sollten zwischen Sichtguthaben und elektronischem Notenbankgeld wählen können", NZZ vom 17.08.2017. Darin befasst sich Prof. Niepelt, Direktor am (SNB-nahen) Studienzentrum Gerzensee, mit der Vollgeld-Initiative und schlägt eine abgeschwächte Variante vor. Der Leserbrief zeigt deren zwei...

Full Text

Deutsch / 25/08/2017

A live-case lite approach as formative assessment

Written case studies have been widely used in marketing. This method presents some shortcomings. We have suggested an approach employing a version of live case studies involving managers of a local company as formative evaluators contributing to an iterative and formalized formative assessment process. This approach may add some interesting features such as presenting a more...

Institution partenaire

Haute Ecole de Gestion de Genève

Full Text

English / 09/06/2017

Finanzkapitalismus oder: Was sich Karl Marx nicht hätte träumen lassen

G - W - G'. So lautet nach Karl Marx die elementare Formel des Kapitalismus. Könnte sich Karl Marx heute, 150 Jahre nach der Veröffentlichung des ersten Bands seines Hauptwerks "Das Kapital", die kapitalistische Gesellschaft anschauen, würde er sich die Augen reiben...

Full Text

Deutsch / 21/08/2017

Lucas Marc Fuhrer: Liquidity in the Repo Market

This paper examines liquidity in the Swiss franc repurchase (repo) market and assesses its determinants using a proprietary dataset ranging from 2006 to 2016. I find that repo market liquidity has a distinct intraday pattern, with low liquidity in early and late trading hours. Moreover, repo market liquidity is negatively affected by stress in the global financial system and the end...

Institution partenaire

Banque nationale suisse

Full Text

English / 17/08/2017

Text-as-data analysis of preferential trade agreements

Preferential trade agreements (PTAs) form an intricate web that connects countries across the globe. In this article, we introduce a PTA text corpus and research tools for its finegrained, automated analysis. Recent computational advances allow for efficient and effective content analysis by treating text as data. We digitize PTA texts and use textual similarity tools to assess PTA...

Full Text

English / 14/08/2017

Pages

Le portail de l'information économique suisse

© 2016 Infonet Economy