infonet-economy

We document that U.S. employment polarization in the 1980-2008 period is largely generated by women. Female employment shares increase both at the bottom and at the top of the skill distribution, generating the typical U-shape polarization graph, while male employment shares decrease in a more similar fashion along the whole skill distribution. We show that a canonical model of skill...

In this paper we model the situation where a non-renewable investment is given, for instance a resource reservoir, and show how to optimally trade-off between dividends and leverage, in order to maximize a performance indicator for shareholders, up to the bankruptcy time. We then study the way market risk (the volatility of the market price of the resource) impacts the optimal...

Avec l’entrée en vigueur du nouveau droit de la protection de l’adulte au 1er janvier 2013, la «privation de liberté à des fins d’assistance» (PLAFA) a été renommée en «placement à des fins d’assistance» (PAFA). Toutefois, les opinions juridiques et médico-éthiques divergent sur la question de savoir si un tel placement est également admissible chez les personnes capables de...

What if the statutory fiscal depreciation of buildings was higher than their effective economic depreciation? This would imply that markets would value buildings more than their social fundamental value. I prove that this would allow house price bubbles to emerge and open the door to sudden crashes. This paper provides an example of how a misaligned fiscal policy measure could...

The literature on IPO long-term performance generally focuses on three- to five-year post-issue time horizons. Research published in the 2000s shows that the apparent underperformance of IPOs docu-mented in the 1990s disappears when the different risk exposures between IPO and mature firms are accounted for by using a Carhart (1997) factor model. In this paper, we show that a sample...

Ob tiefgekühlt, gekühlt oder gewärmt – der Anteil an temperaturgeführt gelagerten und transportierten Gütern nimmt stetig zu. Gründe für diese Entwicklungen sind unter anderem striktere Gesetzesvorschriften
(v.a. im Bereich der Hygiene) und ein verändertes Konsumentenverhalten.
So steigt die Nachfrage nach Frische- und Convenience-Produkten ungebrochen an.

Building on critical literature on corporate sustainability, we add a perspective thus far only scarcely addressed: The toxicity of financial products imposing systemic risk. We start with various illustrative cases from the financial sector which have also been discussed colorfully in the media. This sets the stage for toxic assets and practices as revealed after the onset of the...

Rechtsrisiken gehören zu den grössten Risiken für Unternehmen. Rechtsrisiken entstehen, wenn bindende Verpflichtungen nicht eingehalten werden. Der Verwaltungsrat ist für die Einhaltung der bindenden Verpflichtungen, kurz die «Compliance», verantwortlich. Durch Einführung eines Compliance-Managementsystems nach internationalem Standard kann der Verwaltungsrat seiner Sorgfaltspflicht...

In magnetic resonance imaging, precise measurements of longitudinal relaxation time (T1) is crucial to acquire useful information that is applicable to numerous clinical and neuroscience applications. In this work, we investigated the precision of T1 relaxation time as measured using the variable flip angle method with emphasis on the noise propagated from radiofrequency transmit...