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Es ist zuerst eine Katastrophe nötig, bis die Politik handelt : Was die niederländischen Deiche mit den schweizerischen Banken gemein haben

Am 1. Februar 1953 wurden grosse Teile der Niederlande von einer Sturmflut heimgesucht. Etwa 2000 Menschen starben und die Wirtschaftsleistung grosser Landstriche wurde weitgehend zerstört. Ausgelöst wurde die Flutkatastrophe durch unglückliche klimatische Umstände und den schlechten Zustand vieler Deiche im Mündungsgebiet der drei Flüsse Rhein, Maas und Schelde.

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Deutsch / 25/10/2010

Pension reform, retirement, and life-cycle unemployment

This paper investigates the labor market impact of four often proposed
policy measures for sustainable pensions: strengthening the tax benefit link, moving from wage to price indexation of benefits, lengthening calculation periods, and introducing more actuarial fairness in pension assessment. We consider the impact on three margins of aggregate labor supply, retirement...

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English / 07/10/2010

The impact of capital market integration on educational choice and the consequences for economic growth

This paper examines the impact of capital market integration on higher education and the link to economic growth. The analysis takes into account that participation in higher education is non-compulsory and depends on individual choice. Due to capital–skill complementarity, integration increases (reduces) the incentives to participate in higher education in capital-importing (-...

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English / 06/10/2010

Both sides retaliate in the Israeli-Palestinian conflict

Ending violent international conflicts requires understanding the causal factors that perpetuate them. In the Israeli–Palestinian conflict, Israelis and Palestinians each tend to see themselves as victims, engaging in violence only in response to attacks initiated by a fundamentally and implacably violent foe bent on their destruction. Econometric techniques allow us to empirically...

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English / 04/10/2010

When Organization Theory Met Business Ethics. Towards Further Symbiosis

Organization theory and business ethics are essentially the positive and normative sides of the very same coin, reflecting on how human cooperative activities are organized
and how they ought to be organized respectively. It is therefore unfortunate that—due to the relatively impermeable manmade boundaries segregating the corresponding scholarly communities into separate...

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English / 01/10/2010

Risk-type concentration and efficiency incentives: a challenge for the risk adjustment formula

An important goal of risk-adjusted capitation payments (RACPs) to competitive community-rated health plans-that may differ in coverage and/or the organisation of delivering care-is to reduce incentives for risk selection while maintaining incentives for efficiency. In most schemes, RACPs are simply based on the average observed costs in risk groups (in a prior year). We show that...

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English / 01/10/2010

Withering Academia?

Strong forces lead to a withering of academia as it exists today. The major causal forces are the rankings mania, increased division of labor in research, intense publication pressure, academic fraud, dilution of the concept of “university”, and inadequate organizational forms for modern research. Academia, in a broader sense understood as “the locus of seeking truth and learning...

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English / 01/10/2010

Awards as Signals

Awards are widespread in all countries and are prevalent both in the public sphere and in the private sector. This paper argues, and empirically supports, that awards serve public functions and economists should take them seriously. Using a unique cross-country data set, we suggest that awards serve as signals. Awards are more prevalent the more difficult the position and status of...

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English / 01/10/2010

Democracy and Innovation

Self-determination in politics has become the ideal everybody accepts. This paper argues that such contentment undermines the very idea of democracy. Democracy should be open to criticism and change. Two possible developments are considered:
(a) More political power should be given to the citizens. Direct democracy is the appropriate form of democracy for the 21st century....

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English / 01/10/2010

Robust Performance Hypothesis Testing with the Variance

"Applied researchers often test for the difference of the variance of two investment strategies; in particular, when the investment strategies under consideration aim to implement the global minimum variance portfolio. A popular tool to this end is the F-test for the equality of variances. Unfortunately, this test is not valid when the returns are correlated, have tails heavier...

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English / 01/10/2010

Impact of Specialization on Health Outcomes - Evidence from U.S. Cancer Data

There have been many studies of the volume-outcome relationship. In all of these, the unit of analysis is the hospital or physician. However, this level of analysis is mostly limited to the use of in-hospital mortality rates and is particularly sensitive to selective referral. Moreover, the literature on agglomeration economies highlights the importance of information spillovers...

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English / 01/10/2010

The Effect of Direct Democracy on Income Redistribution : Evidence for Switzerland

In political economics, the impact of institutions on income redistribution is mainly studied by comparing different forms of representative democracy. In this article, we analyze the influence of direct democratic institutions on redistribution first focusing on welfare and nonwelfare spending using yearly panel data for Swiss cantons. Then, we estimate a model, which explains the...

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English / 01/10/2010

Spurious correlation in estimation of the health production function: A note

In this paper, we address the issue of spurious correlation in the production of health in a systematic way. Spurious
correlation entails the risk of linking health status to medical (and nonmedical) inputs when no links exist. This note
first presents the bounds testing procedure as a method to detect and avoid spurious correlation. It then applies it to a
recent...

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English / 28/09/2010

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