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The Liquidity Coverage Ratio and Security Prices

What is the added value of a security which qualifies as a “high-quality liquid asset” (HQLA) under the Basel III “Liquidity Coverage Ratio” (LCR)? In this paper, we quantify the added value in terms of yield changes and, as suggested by Stein (2013), call it “HQLA premium”. To do so, we exploit the introduction of the LCR in Switzerland as a unique quasi-natural experiment and we...

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English / 01/02/2017

High-skilled immigration, STEM employment, and non-routine-biased technical change

We study the role of foreign-born workers in the growth of employment in STEM occupations since 1980. Given the importance of employment in these fields for research and innovation, we consider their role in a model featuring endogenous non-routine-biased technical change. We use this model to quantify the impact of high-skilled immigration, and the increasing tendency of such...

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English / 01/02/2017

Nonlinear effects of taxation on growth

We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest severely hurt their growth performance. In our model, the effects of taxation on growth are highly nonlinear. Low tax rates have a very small impact on...

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English / 01/02/2017

Revealed preferences in a sequential prisoners' dilemma: a horse-race between five utility functions

We experimentally investigate behavior and beliefs in a sequential prisoner’s dilemma. Each subject had to choose an action as first-mover and a conditional action as second-mover. All subjects also had to state their beliefs about others’ second-mover choices. We find that subjects’ beliefs about others’ choices are fairly accurate on average. Using the elicited beliefs, we compare...

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English / 01/02/2017

A study of the performance of fine wine on the Swiss market

This paper studies the price evolution and the performance of an investment in fine wine on the Swiss market over the period 2002-2012. Using a repeat-sales-regression approach we calculate different wine indices based on auction hammer prices obtained by Steinfels Weinauktionen. Our results show that different fine wines followed a similar evolution across the sample period but that...

Institution partenaire

Haute Ecole de Gestion de Genève

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English / 31/01/2017

Evidence for the need to distinguish between selfinitiated and organizationally imposed overload in studies of work stress

This study attempts to enhance our understanding of the inconsistencies reported in the literature concerning the relationship between work overload and work outcomes. We tested the proposition that work overload should be divided into two constructs based on its source: self-initiated overload (SIO), and organization-imposed overload (OIO). Based on the work stress and job crafting...

Institution partenaire

Haute Ecole de Gestion de Genève

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English / 31/01/2017

Financial impact of LEED and energy star certifications on hotel revenues

This study examines the topline performance of a cross-section of hotels in the United States from 2009 to 2013 to test whether eco-labeled (LEED or Energy Star, in particular) properties generated revenue performance premiums over noncertified hotels. In other words, does it pay to acquire these labels? Regressions included regional, class, chain scale, size, and location controls....

Institution partenaire

Haute Ecole de Gestion de Genève

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English / 31/01/2017

Supporting the competent practitioner: : trans-disciplinary coaching with a knowledge-based expert system

The purpose of this paper is to describe the roles of the coach and the coachee from the perspective of their respective competences and a particular type of the coaching process that we call ‘competent coaching’. We also show how this process can be supported with a knowledge-based expert system (KBS); to illustrate this, we introduce a particular knowledge-based expert system shell...

Institution partenaire

Haute Ecole de Gestion de Genève

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English / 31/01/2017

Herding: a new phenomenon affecting medical decision-making in multiple sclerosis care? Lessons learned from DIScUTIR MS

Purpose: Herding is a phenomenon by which individuals follow the behavior of others rather than deciding independently on the basis of their own private information. A herding-like phenomenon can occur in multiple sclerosis (MS) when a neurologist follows a therapeutic recommendation by a colleague even though it is not supported by best practice clinical guidelines. Limited...

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English / 31/01/2017

Kunden, Aktionäre - und die Bürger?

Es wird heute immer wichtiger, die nach Tagesaktualität schwankende
öffentliche Meinung von den tief verwurzelten Einstellungen
der Bürger zu unterscheiden.

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Deutsch / 25/01/2017

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