Publications des institutions partenaires

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Der grosse Krypto-Quatsch

Derzeit ist nicht erkennbar, dass es eine klare Rolle für Kryptowährungen gibt, die für legitime Zwecke nicht ebenso gut durch traditionelle Währungen erfüllt werden könnte. Ein Kommentar von Joachim Voth.

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Deutsch / 21/08/2017

Career dynamics and gender gaps among employees in the microfinance sector

While microfinance institutions (MFIs) are increasingly important as employers in the developing world, there is little micro-level evidence on gender differences among MFI employees and MFIs' relation to economic development. We use a unique panel dataset of employees from Latin America's largest MFI to show that gender gaps favouring men for promotion exist primarily in...

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/ 18/08/2017

Conditional FAVAR and scenario analysis for a large data: case of Tunisia

The aim of this paper is to compute the conditional forecasts of a set of variables of interest on future paths of some variables in dynamic systems. We build a large dynamic factor models for a quarterly data set of 30 macroeconomic and financial indicators. Results of forecasting suggest that conditional FAVAR models which incorporate more economic information outperform the...

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/ 18/08/2017

Lucas Marc Fuhrer: Liquidity in the Repo Market

This paper examines liquidity in the Swiss franc repurchase (repo) market and assesses its determinants using a proprietary dataset ranging from 2006 to 2016. I find that repo market liquidity has a distinct intraday pattern, with low liquidity in early and late trading hours. Moreover, repo market liquidity is negatively affected by stress in the global financial system and the end...

Institution partenaire

Banque nationale suisse

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English / 17/08/2017

Text-as-data analysis of preferential trade agreements: mapping the PTA landscape

Preferential trade agreements (PTAs) form an intricate web that connects countries across the globe. In this article, we introduce a PTA text corpus and research tools for its finegrained, automated analysis. Recent computational advances allow for efficient and effective content analysis by treating text as data. We digitize PTA texts and use textual similarity tools to assess PTA...

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/ 14/08/2017

Der Aufstieg der Superstar-Firmen

Der Erfolg von Unternehmen wie Microsoft und Amazon hat zur Marktdominanz einzelner Anbieter geführt und deren Besitzer immens reich gemacht. Ein Kommentar von David Dorn.

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Deutsch / 14/08/2017

Abandon ship?: party brands and politicians’ responses to a political scandal

In this article, we study politicians’ – rather than voters’ – responses to the main political scandal in Italian recent history (Tangentopoli), and overcome endogeneity concerns by analysing the local implications of this national corruption scandal. We find that local politicians withdraw support for incumbents in parties hit by Tangentopoli – inducing increased political...

Institution partenaire

Università  della Svizzera italiana

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English / 09/08/2017

The impact of CSR reporting quality on analyst forecast accuracy

We investigate the impact of the quality of corporate social responsibility (CSR) reports on sell-side analyst forecast accuracy. The sample comprises 506 large companies that were selected according to the CSR-Sustainability Monitor, which was used to measure the quality of CSR reports issued in 2012 by the members listed in Fortune 500 US and the Global Index. Forecast error is...

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English / 08/08/2017

Prix de transfert optimaux et comportement stratégique des multinationales

The purpose of this paper is to deal with two features of the multinational behaviour not found in previous models of transfer pricing. First on the contrary to earlier literature, we assume that quantity (or price) decisions are no more centralised but are delegated to exporting and importing affiliates. Second, we underline the importance of strategic interactions with other firms...

Institution partenaire

Université de Fribourg

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English / 02/08/2017

,,Kosten der Kleinheit" und die Föderalismusdebatte in der Schweiz

This article discusses the smallness of subsidiary jurisdictions as a third dimension of centrality, besides vertical centrality and fragmentation (horizontal centrality). A panel analysis concerning all 26 Swiss cantons (from 1990 to 2003) shows that public expenditure per capita increases with the number of inhabitants of a canton. This holds for the aggregate expenditure level and...

Institution partenaire

Université de Fribourg

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ger / 02/08/2017

Costly institutions as substitutes: novelty and limits of the Coasian approach

One of the main contributions of Ronald H. Coase was to demonstrate how mainstream economics was based on a contradictory amalgam of costly physical inputs and free institutional resources, and to give origin to the economics of institutions: each institution is a mode of allocation and organization of economic resources that is to be investigated. In particular, none of the...

Institution partenaire

Università  della Svizzera italiana

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English / 02/08/2017

Fédéralisme, coordination et harmonisation fiscales Etude du cas suisse

1. CHAPITRE PRELIMINAIRE 1.1 Introduction Cette étude a pour objet les problèmes de coordination et d'harmonisation fiscales dans un système fédéral. Pris au sens général, la coordination et l'harmonisation fiscales se réfèrent à l'ensemble des mesures permettant de passer d'un système fiscal épars à un système uniforme, puis unifié. Par système fiscal épars, on entend un système...

Institution partenaire

Université de Fribourg

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English / 02/08/2017

Gender gaps in policy making: evidence from direct democracy in Switzerland

This paper uses a unique data set on individual voting decisions to shed new light on gender gaps in policy making. Our analysis focuses on Switzerland, the world leader in direct democracy, where all citizens directly decide on a broad range of policies at the ballot box. Analysing all federal votes held between 1981 and 2003, we show that there are large gender gaps in the areas of...

Institution partenaire

Università  della Svizzera italiana

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English / 02/08/2017

Positional goods and Robert Lee Hale's legal economics

The legal realist Robert Lee Hale offered a definition of freedom as a zero-sum game: each volitional freedom implies some degree of coercion over other people's freedom, and at the same time one's freedom is subject to some degree of control and coercion by others. The objective of our work is to develop this idea along with the theory of positional goods. This allows us to...

Institution partenaire

Università  della Svizzera italiana

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English / 02/08/2017

Wer ist der beste Formel 1 Fahrer? Eine ökonometrische Talentbewertung

Who is the best Formula 1 driver? Until today it was impossible to answer this question because the observable performance of a driver depends both on his talent and the quality of his cars. In this article we separate for the first time driver talent from car quality by econometrically analyzing data for 57 years of Formula 1 racing. Our estimates also control for the number of...

Institution partenaire

Université de Fribourg

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ger / 02/08/2017

Innovationsmanagement im Energiesektor

Innovationen stellen eine Kernherausforderung, aber auch eine Kernopportunität für kleinere und mittlere Energieversorger dar. Um sie erfolgreich umzusetzen, müssen diese Unternehmen bestehende Innovationsansätze adaptieren: Auf der Ebene des Managements sollten Kerngeschäft und Innovation klar getrennt werden, die Mitarbeiter muss man jedoch dazu befähigen, Innovation und...

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Deutsch / 02/08/2017

Strategic technology adoption and hedging under incomplete markets

We investigate the implications of technological innovation and non-diversifiable risk on entrepreneurial entry and optimal portfolio choice. In a real options model where two risk-averse individuals strategically decide on technology adoption, we show that the impact of non-diversifiable risk on the option timing decision is ambiguous and depends on the frequency of technological...

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English / 01/08/2017

The determinants of food choice

Health nudge interventions to steer people into healthier lifestyles are increasingly applied by governments worldwide, and it is natural to look to such approaches to improve health by altering what people choose to eat. However, to produce policy recommendations that are likely to be effective, we need to be able to make valid predictions about the consequences of proposed...

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English / 01/08/2017

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