infonet-economy

The post-Global Financial Crisis period shows a surge in corporate leverage in emergingmarkets and a number of countries with deteriorated corporate financial fragility indicators (Altman's Z-score). Firm size plays a critical role in the relationship between leverage, firm fragility and exchange rate movements in emerging markets. While the relationship between firm-leverage and...

How does FinTech credit mitigate local credit supply frictions in China's segmented credit market? In our simple theoretical models, we show that FinTech credit (i) expands the extensive margin of credit to borrowers of lower credit scores and (ii) provides relatively more credit to borrowers with lower credit scores. We confirm both predictions based on comprehensive data from one...

Knowing the part of currency in circulation that is used for transactions is important information for a central bank. For several countries, the share of banknotes that is hoarded or circulates abroad is sizeable, which may be particularly relevant for large-denomination banknotes. We analyse the demand for Swiss banknotes over a period starting in 1950 to 2017 and use different...

Thèse de doctorat : Università della Svizzera italiana, 2019 ; 2019ECO003.

Renold, Ursula; Rageth, Ladina; Caves, Katherine M.; Buergi, Jutta

The sharp declines in oil prices starting in late 2014 sparked a debate about their effect on inflation and the world economy (e.g. GEP January 2015). The decline in oil prices lowered inflation in the short run and in some cases pushed some economies that already experience very low inflation into deflation. More surprisingly, data from the US, Euro area, UK and Israel shows that...

The increasing globalization of trade in goods and services and the deepening of financial markets have reduced frictions that may impede the operation of the PPP and UIP relationships in the short run. In this paper, we estimate the short term relative PPP and UIP relationships. Using data from Israel, which has a deep market for inflation expectations for 12 months, we show that...

Kolbe, Michaela; Boos, Margarete

Alors que l'Organisation internationale du travail (OIT) célèbre son centenaire, le principe fondateur de l'organisation demeure pertinent : les menaces sur la paix prennent racine dans les injustices et inégalités inhérentes aux grandes transformations économiques. Dans le contexte de mutations rapides et profondes qui affectent le monde du travail et de l'emploi, l'OIT suscite de...