Publications des institutions partenaires
Advancing the notion of a social market economy : Concepts for a renewal of ordoliberalism from the perspective of integrative economic ethics
Institution partenaire
English / 01/01/2010
The Risk Premium Project (RPP) Update - RPP II Report
Institution partenaire
English / 01/01/2010
Risk Comparison of Different Bonus Distribution Approaches in Participating Life Insurance
Institution partenaire
English / 01/01/2010
Siemens: Management Innovation at the Corporate Level
The case study explores management innovation at the corporate level at Siemens AG for the ten-year period from 1998 to 2007. Faced with severe capital markets pressure in the late 1990s, Siemens launched its first comprehensive corporate program in July 1998. A critical part of the so-called Ten-Point Program was the top+ program, which exclusively addressed issues of business…
Institution partenaire
English / 01/01/2010
Exploring the theatrical experience: Results from an empirical investigation
The article aims at explaining visitors’ overall judgment of a theatrical event. A questionnaire was constructed including the 4 dimensions of the theatrical experience identified by Eversmann (2004): perceptual, cognitive, emotional, and communicative. The authors investigated 125 visitors of a production in a German community theater and confirmed that both the emotional and…
Institution partenaire
English / 01/01/2010
The C-CAPM without ex post data
Survey and option data are used to take a fresh look at the equity premium puzzle. Survey data on equity returns (Livingston survey) shows much lower expected excess returns than ex post data. At the same time, option data suggests that investors tend to overestimate the volatility of equity returns. Both facts contribute towards solving the puzzle. However, data on beliefs about…
Institution partenaire
English / 01/12/2009
Home Heating and the Co-construction of Gender, Technology and Sustainability
Institution partenaire
English / 01/12/2009
How different can differences be(come)? Interpretative repertoires of diversity concepts in Swiss-based organizations
Institution partenaire
English / 01/12/2009
After the Crisis: Is There a Comeback of Economic Interventionism?
This presentation reviews the economic interventions by governments and central banks in response to the 2007-2009 financial and economic crisis.
In the area of trade policy, we find that protectionism has increased substantially, with governments targeting in particular the products of declining industries and financial services. Nevertheless, spiralling protectionism as in…
Institution partenaire
English / 16/11/2009
Are Training Programs More Effective When Unemployment Is High?
We estimate short-run, medium-run, and long-run individual labor market effects of training programs for the unemployed by following program participation on a monthly basis over a 10-year period. Since analyzing the effectiveness of training over such a long period is impossible with experimental data, we use an administrative database compiled for evaluating German training…
Institution partenaire
English / 01/11/2009
Strategic Balance Sheet Management
Die Übernahme des Risikos aus der Transformation von liquiden Kundeneinlagen in langfristige Kredite und Hypotheken ist eine wichtige Ertragsquelle Schweizerischer Kantonal- und Regionalbanken. In monatlichen Steuerungsausschüssen berät das Management über die aktuelle Risikosituation der Bank und fällt Entscheide über strategische Massnahmen, wie die Konditionenpolitik oder den…
Institution partenaire
English / 01/11/2009
The Role of Monetary Aggregates in the Policy Analysis of the Swiss National Bank
Using Swiss data from 1983 to 2008, this paper investigates whether growth rates of the different measures of the quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand relations are specified, estimated and tested. Then, employing error correction models, measures of excess money are derived. Using recursive estimates…
Institution partenaire
English / 01/11/2009
Active Labour Market Policy in East Germany : Waiting for the Economy to Take Off
We investigate the effects of the most important East German active labour market programmes on the labour market outcomes of their participants. The analysis is based on a large and informative individual database coming from administrative data sources. Using matching methods, we find that over a horizon of 2.5 years after programme start the programmes fail to increase the…
Institution partenaire
English / 01/10/2009
Chiastic Reflections : Rash Moments in the Life of Zuckerman
http://muse.jhu.edu/journals/philip_roth_studies/summary/v005/5.2.bruhwi...
Nathan Zuckerman's farewell with Exit Ghost is interwoven with Joseph Conrad's initiation story The Shadow-Line (1917) which traces the moral maturation of a young captain. While one could see…
Institution partenaire
English / 01/10/2009
Targeting Labour Market Programmes : Results from A Randomized Experiment
We evaluate a randomized experiment of a statistical support system developed to assist caseworkers in Swiss employment offices in choosing appropriate active labour market programmes for their unemployed clients. This statistical support system predicted the labour market outcome for each programme and thereby suggested an 'optimal' labour market programme for each…
Institution partenaire
English / 26/09/2009
Ethical Fashion: Analysis of the consumer behavior in Switzerland
Institution partenaire
English / 21/09/2009
Intra-Day Characteristics of Stock Price Crashes
This article presents the first detailed analysis of the intra-day characteristics of idiosyncratic stock price crashes. The analysis focuses on the impact of large crashes in single stocks on their intra-day returns and liquidity in the US market. Furthermore, optimal intra-daily behavior during crashes is studied. Crashes are found to happen rather quickly, usually during a time…
Institution partenaire
English / 01/09/2009
Implied and Realized Volatility in the Cross-Section of Equity Options
Using a complete sample of US equity options, we analyze pat-
terns of implied volatility in the cross-section of equity options with
respect to stock characteristics. We find that high-beta stocks, small
stocks, stocks with a low-market-to-book ratio, and non-momentum
stocks trade at higher implied volatilities after controlling for histor-
ical…
Institution partenaire
English / 01/09/2009
Financial and World Economic Crisis: What Did Economists Contribute?
In this paper we deal with two questions, (1) what are the origins of the current financial crisis, and (2) what did economists contribute, or why did economists fail to provide a convincing answer for the origins of the crisis, and possible solutions to overcome it? The economics profession apparently was unaware of the looming worldwide financial and economic crisis, and…
Institution partenaire
English / 01/09/2009
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