Publications des institutions partenaires
Three essays in labor economics
Thèse de doctorat : Università della Svizzera italiana, 2019 ; 2019ECO003.
Institution partenaire
English / 01/07/2019
Oil prices, inflation expectations and monetary policy
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...
Institution partenaire
Institut de hautes études internationales et du développement
English / 28/06/2019
Has inflation targeting become less credible?
Beginning with the global financial crisis (2008) the correlation between crude oil prices and medium-term and forward inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices as a measure for global aggregate demand, we decompose nominal oil prices to a global demand factor and remaining factors. Using a...
Institution partenaire
Institut de hautes études internationales et du développement
English / 28/06/2019
Nominal exchange rate dynamics and monetary policy: uncovered interest rate parity and purchasing power parity revisited
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...
Institution partenaire
Institut de hautes études internationales et du développement
English / 28/06/2019
Tax administration and compliance: evidence from medieval Paris
We use tax and historical records to analyze the Parisian taille - an institution that resolved the tax compliance problem. The taille’s essential features were; an agreement between the king and city government to collect a fixed amount of revenue and a sequential collection process that included public revelation of individual tax assessments prior to their collection. Modelling...
Institution partenaire
Institut de hautes études internationales et du développement
English / 28/06/2019
Access to banking, savings and consumption smoothing in rural India
Access to formal banking is increasing across the world and may transform how people manage their finances. We report from a field experiment that randomly provides access to a bank account to a representative sample of villagers in rural India. The treated respondents save actively into the account and their individual savings increase. There is, however, no significant impact on...
Institution partenaire
Institut de hautes études internationales et du développement
English / 27/06/2019
L'OIT centenaire: pertinence et défis dans un monde du travail en mutation
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...
Institution partenaire
Institut de hautes études internationales et du développement
English / 25/06/2019
The ILO @ 100: in search of renewed relevance
As the International Labour Organization (ILO) celebrates its centenary, its founding precept remains as relevant as ever: the main breeding grounds for threats to peace are the injustices and unequal opportunities that result from ongoing economic transformation. The moral idea that forged the ILO still lies at the heart of the international efforts for peace and development driving...
Institution partenaire
Institut de hautes études internationales et du développement
English / 25/06/2019
Has inflation targeting become less credible?: oil prices, global aggregate demand and inflation expectations during the global financial crisis
Following the onset of the global financial crisis (2008) we witness a strengthening of the correlation between crude oil prices and medium-term inflation expectations. Using the first principal component of commodity prices as a measure for global aggregate demand, we decompose oil prices into a global demand factor and idiosyncratic factors that include supply side effects and...
Institution partenaire
Institut de hautes études internationales et du développement
English / 24/06/2019
Politique monétaire non conventionnelle: l'expérience israélienne
Au cours de la crise financière mondiale, la politique monétaire israélienne a eu recours à des mesures non conventionnelles parallèlement à des réductions énergiques du taux d’intérêt de la banque centrale. L’expérience acquise par Israël dans l’utilisation de ce type de mesures pendant la crise, leur suppression aux premiers signes de reprise et l’usage prolongé de l’une d’entre...
Institution partenaire
Institut de hautes études internationales et du développement
English / 24/06/2019
Monetary policy and interest rate products
Thèse de doctorat : Università della Svizzera italiana, 2019 ; 20019ECO002.
Institution partenaire
English / 06/06/2019
Financial constraints, institutions, and foreign ownership
We develop a model of cross-border acquisitions in which the foreign acquirer's ownership choice reflects a trade-off between easing the target's credit constraints and the costs of operating in an environment with weak institutions. Data on domestic and foreign acquisitions in emerging markets over the period 1990–2007 support the model predictions. The share of full foreign...
Institution partenaire
Institut de hautes études internationales et du développement
English / 30/04/2019
Coming out in America: AIDS, politics, and cultural change
The last few decades witnessed a dramatic change in public opinion towards gay people. This paper uses a difference-in-difference empirical strategy to investigate the hypothesis that the AIDS epidemic and the ensuing endogenous political process led to this transformation. We show that the process of change was discontinuous over time and show suggestive evidence that the '92...
Institution partenaire
Institut de hautes études internationales et du développement
English / 15/04/2019
The Hausmann–Gorky Effect
On May 26, 2017, Harvard economist Ricardo Hausmann published an Op Ed titled "Hunger Bonds", urging investors to avoid Venezuelan sovereign bonds on the grounds that the country was prioritizing payments on the bonds over remedying a humanitarian crisis. Contemporaneously, news emerged regarding a suspicious looking bond issue by Venezuela's oil company that was purchased largely by...
Institution partenaire
Institut de hautes études internationales et du développement
English / 22/03/2019
Three essays in economics of catastrophes
Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO013.
Institution partenaire
English / 12/02/2019
Integrating anti-money laundering compliance duties into the banking culture
Thèse de doctorat : Università della Svizzera italiana, 2016 ; 2016ECO011.
Institution partenaire
English / 12/02/2019
Strategic M&A announcement timing, information asymmetry and behavioral biases
Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO012.
Institution partenaire
English / 12/02/2019
Options trading strategies and equity risk premia
Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO010.
Institution partenaire
English / 12/02/2019
Derivative securities in risk management and asset pricing
Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO009.
Institution partenaire
English / 12/02/2019
The importance of geographical proximity : Evidence on the concentration of firms, culture and political ideologies
Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO008.
Institution partenaire
English / 12/02/2019
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