infonet-economy

Les marques horlogères de luxe ont longtemps été assez méfiantes envers les NTIC (nouvelles technologies de l’information et de la communication), notamment avec Internet. Elles voyaient en effet une certaine contradiction entre les valeurs d’exclusivité, voire de rareté, qu’elles véhiculent et un média de masse. Cet article s’appuie sur le cadre conceptuel...

This paper reports on selected findings fr om a study conducted on collaborative-learning in undergraduate and post-graduate management educ ation. Course redesign called for the inclusion of synchronous and asynchronous learning tasks in th e course syllabus. The findings reported here are for the first, second, third and fourth iterations of the course carried out over a two-...

We investigate the dynamic effects of interregional labor market integration on migration flows, capital formation, and the price for housing services. The co-evolution of these variables depends on initial conditions at the time of labor market integration. In an initially capital-poor economy, there may be a reversal of migration flows during the transition to the steady state,...

Der Einsatz von Maschinen, Computern und Robotern hat nicht zu einem deutlichen Rückgang der Beschäftigung geführt. Hingegen spaltet sich der Arbeitsmarkt in gut und schlecht bezahlte Berufe.

This paper provides an empirical analysis of the network characteristics of two interrelated interbank money markets and their impact on overall market conditions. Based on transaction data from the unsecured and secured Swiss franc money markets, the trading network structures are assessed before, during and after the financial market crisis. It can be shown that banks in the...

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 find...

The global Great Recession has sparked renewed interest in the relationships between financial conditions and real activity. This paper considers the Swiss experience, studying the impact of credit market conditions and housing prices on real activity over the last three decades through the lens of a medium-scale structural Bayesian vector autoregressive model (BVAR). From a...

Few would dispute that sovereign defaults entail significant economic costs, including, most notably, important output losses. However, most of the evidence supporting this conventional wisdom, based on annual observations, suffers from serious measurement and identification problems. To address these drawbacks, we examine the impact of default on growth by looking at quarterly data...