Around 100 professors teach and do research at our Faculty. But who are they, what motivates them and what are the questions they want to find answers to? In a new series, we introduce various professors and their research. In the first portrait, it's Lauren Howe's turn.
Der Bundesrat hat am 19. März 2021 das vereinfachte Verfahren für Kurzarbeitsentschädigung (KAE) sowie die Aufhebung der Karenzzeit bis am 30. Juni 2021 verlängert. Die entsprechenden Änderungen der Covid-19-Verordnung Arbeitslosenversicherung treten am 1. April 2021 in Kraft.
Le 19 mars 2021, le Conseil fédéral a décidé de prolonger jusqu’au 30 juin 2021 la procédure simplifiée pour l’indemnité en cas de réduction de l’horaire de travail et la suppression du délai d’attente. Les modifications correspondantes de l’ordonnance COVID-19 assurance-chômage entrent en vigueur le 1er avril 2021.
We provide empirical evidence on the heterogeneous transmission of monetary policy to the housing market across and within countries. We use household-level data from Germany, Italy and Switzerland together with the respective monetary policy shocks identified from high-frequency data. We find that the pass-through of monetary policy shocks to rates of newly originated (fixed-rate) mortgages is twice as strong in Switzerland than in Germany and Italy. After an accommodative monetary policy shock, this is associated in the housing market with a larger immediate, and persistent increase of transitions from renting to owning; a stronger decrease in rents; and an increase of the price-rent ratio. Within Italy, we find a stronger pass-through to mortgage rates, housing tenure transitions and the price-rent ratio in the northern regions that have been characterized in the literature as more financially developed than the southern regions.
