Printed from https://ideas.repec.org/s/szg/worpap.html
Content
2024
- 24.07 This paper employs the opening of the first international telegraph between London and Paris on 13 November 1851 as a unique event that enabled a virtually instanta- neous information exchange between the largest financial centers. Before this opening, a London currency speculator comparing the short-term return between British pounds and French francs had to form an expectation about the current exchange rate in Paris. With the telegraph, this expectation became suddenly obsolete. Weekly data around 1851 suggest that returns in London and Paris were closely aligned. Apparently, cur- rency speculators held on average quite accurate exchange-rate expectations before the introduction of the telegraph
by Nils Herger - 24.06 A geometric approach to factor model identification
by Sylvia Kaufmann & Markus Pape - 24.05 On-the-run Premia, Settlement Fails, and Central Bank Access
by Fabienne Schneider - 24.04 Credit and Anonymity
by Fabienne Schneider & Remo Taudien - 24.03 Truth by Consensus: A Theoretical and Empirical Investigation
by Gabriele Camera & Rodney Garratt & Cyril Monnet - 24.01 Dynamic factor models with common (drifting) stochastic trends
by Sylvia Kaufmann & Rodney W. Strachan - 24.01 A Runs Test for Stock-Market Prices with an Unobserved Trend
by Nils Herger
2023
- 23.04 Bayesian (non-)unique sparse factor modelling
by Sylvia Kaufmann & Markus Pape - 23.03 Moral Constraints, Social Norm Enforcement and Strategic Default in Weak and Strong Economic Conditions
by Martin Brown & Jan Schmitz & Christian Zehnder - 23.02 Communication and Hidden Action: A Credit Market Experiment
by Martin Brown & Jan Schmitz & Christian Zehnder - 23.01 Fragility of Secured Credit Chains
by Piero Gottardi & Vincent Maurin & Cyril Monnet
2022
- 22.04 Real interest rates and population growth across generations
by Lucas Fuhrer & Nils Herger - 22.03 Central Bank Digital Currency: Stability and Information
by Todd Keister & Cyril Monnet - 22.02R Covid-19 outbreak and beyond: A retrospect on the information content of registered short-time workers for GDP now- and forecasting
by Sylvia Kaufmann - 22.02 Covid-19 outbreak and beyond: A retrospect on the information content of registered short-time workers for GDP now- and forecasting
by Sylvia Kaufmann - 22.01 The Political Economy of Early COVID-19 Interventions in US States
by Martin Gonzalez-Eiras & Dirk Niepelt
2021
- 21.01 Distributed Ledgers and the Governance of Money
by Raphael Auer & Cyril Monnet & Hyun Song Shin
2020
- 20.06 Optimally Controlling an Epidemic
by Martin Gonzalez-Eiras & Dirk Niepelt - 20.05 Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics
by Dirk Niepelt - 20.04 Bank lending in Switzerland: Capturing cross-sectional heterogeneity and asymmetry over time
by Toni Beutler & Matthias Gubler & Simona Hauri & Sylvia Kaufmann - 20.03 Covid-19 outbreak and beyond: The information content of registered short-time workers for GDP now- and forecasting
by Sylvia Kaufmann - 20.02 Tractable Epidemiological Models for Economic Analysis
by Martin Gonzalez-Eiras & Dirk Niepelt - 20.01 On the Optimal "Lockdown" During an Epidemic
by Martin Gonzalez-Eiras & Dirk Niepelt
2019
- 19.06 Unregulated and regulated free banking. The case of Switzerland reinterpreted
by Nils Herger - 19.05 On the Equivalence of Private and Public Money
by Markus K. Brunnermeier & Dirk Niepelt - 19.04 On the Instability of Banking and Other Financial Intermediation
by Chao Gu & Cyril Monnet & Ed Nosal & Randall Wright - 19.03 Streamlining Time-varying VAR with a Factor Structure in the Parameters
by Simon Beyeler - 19.02 Unraveling News: Reconciling Conflicting Evidence
by Maria Bolboaca & Sarah Fischer - 19.01 News Shocks: Different Effects in Boom and Recession?
by Maria Bolboaca & Sarah Fischer - 16.08R Factor augmented VAR revisited - A sparse dynamic factor model approach
by Simon Beyeler & Sylvia Kaufmann
2018
- 18.03 The Risk-Taking Channel of Liquidity Regulations and Monetary Policy
by Stephan Imhof & Cyril Monnet & Shengxing Zhang - 18.02 Reserves for All? Central Bank Digital Currency, Deposits, and their (Non)-Equivalence
by Dirk Niepelt - 18.01 Asset Prices under Alternative Exchange Rate Regimes
by Nicole Aregger
2017
- 17.04 Testing the interest parity condition with Irving Fisher's example of Indian rupee and sterling bonds in the London financial market (1869 - 1906)
by Nils Herger - 17.03 Unconventional Monetary Policy under Appreciation Pressure - The Role of Financial Frictions
by Nicole Aregger & Jessica Leutert - 17.02 Policy Evaluation by the Synthetic Control Approach: The Case of the Swiss Franc
by Nicole Aregger & Jessica Leutert - 17.01 An empirical assessment of the Swedish Bullionist Controversy
by Nils Herger
2016
- 16.08 Factor augmented VAR revisited - A sparse dynamic factor model approach
by Simon Beyeler & Sylvia Kaufmann - 16.07 Exchange rate floor and central bank balance sheets: Simple spillover tests of the Swiss franc
by Adrien Alvero & Andreas M. Fischer - 16.06 Hidden Markov models in time series, with applications in economics
by Sylvia Kaufmann - 16.05 Fiscal Federalism, Taxation and Grants
by Martín Gonzalez-Eiras & Dirk Niepelt - 16.04 Capital Flows and the Swiss Franc
by Pinar Yesin - 16.03 Exchange Rate Predictability and State-of-the-Art Models
by Pinar Yesin - 16.02 Changing dynamics at the zero lower bound
by Gregor Bäurle & Daniel Kaufmann & Sylvia Kaufmann & Rodney W. Strachan
2015
- 16.01 The impact of international swap lines on stock returns of banks in emerging markets
by Alin Marius Andries & Andreas M. Fischer & Pinar Yesin - 15.05 The Impact of Interest Rate Risk on Bank Lending
by Toni Beutler & Robert Bichsel & Adrian Bruhin & Jayson Danton - 15.04 An uncovered interest parity condition that worked - The continental investment demand for London bills of exchange during the gold standard (1880 -1914)
by Nils Herger - 15.03 Human Capital and the Dynamic Effects of Trade
by Raphael A Auer - 15.02 Capital flow waves to and from Switzerland before and after the financial crisis
by Pinar Yesin
2014
- 15.01 Exchange Rate Pass-Through, Domestic Competition, and Infl?ation: Evidence from the 2005/08 Revaluation of the Renminbi
by Raphael A Auer - 14.07 Austerity
by Harris Dellas & Dirk Niepelt - 14.06 Intertemporal discoordination in the 100 percent reserve banking system
by Romain Baeriswyl - 14.05 Trade linkages and the globalisation of inflation in Asia and the Pacific
by Raphael A Auer & Aaron Mehrotra - 14.04 K-state switching models with time-varying transition distributions – Does credit growth signal stronger effects of variables on inflation?
by Sylvia Kaufmann - 14.03 The Cyclical Component of Labor Market Polarization and Jobless Recoveries in the US
by Paul Gaggl & Sylvia Kaufmann - 14.02 Horizontal, Vertical, and Conglomerate FDI: Evidence from Cross Border Acquisitions
by Nils Herger & Steve McCorriston - 14.01 Offshoring and Sequential Production Chains: A General-Equilibrium Analysis
by Philipp Harms & Jaewon Jung & Oliver Lorz
2013
- 13.08 Market Entries and Exits and the Nonlinear Behaviour of the Exchange Rate Pass-Through into Import Prices
by Herger Nils - 13.07 Risk-off Episodes and Swiss Franc Appreciation: the Role of Capital Flows
by Irineu de Carvalho Filho - 13.06 Foreign Currency Loans and Systemic Risk in Europe
by Pinar Yesin - 13.05 Credibility For Sale
by Harris Dellas & Dirk Niepelt - 13.04 Bayesian estimation of sparse dynamic factor models with order-independent identification
by Sylvia Kaufmann & Christian Schumacher - 13.03 What Drives Target2 Balances? Evidence From a Panel Analysis
by Raphael A. Auer - 13.02 On Discrete Location Choice Models
by Nils Herger - 13.01 Product Heterogeneity, Cross-Country Taste Differences, and the Consumption Home Bias
by Raphael A. Auer
2012
- 12.03 Forecasting Exchange Rates with Commodity Convenience Yields
by Toni Beutler - 12.02 Economic and Politico-Economic Equivalence
by Martín Gonzalez-Eiras & Dirk Niepelt - 12.01 Transmission of Sovereign Risk in the Euro Crisis
by Filippo Brutti & Philip Sauré
2011
- 11.11 The Collateral Channel under Imperfect Debt Enforcement
by Toni Beutler & Mathieu Grobéty - 11.10 An FDI is an FDI is an FDI? The growth effects of greenfield investment and mergers and acquisitions in developing countries
by Philipp Harms & Pierre-Guillaume Méon - 11.09 Prices and Choices in the Swiss Health Care Insurance Market
by Yves Ortiz - 11.08 Limited Rationality and Strategic Interaction: A Probabilistic Multi-Agent Model
by Yves Ortiz & Martin schüle - 11.07 Surfing the Capital Waves: A sector-level examination of surges in FDI inflows
by Salvatore Dell’Erba & Dennis Reinhardt - 11.06 Ageing, Government Budgets, Retirement, and Growth
by Dirk Niepelt & Martín Gonzalez-Eiras - 11.05 The Journal Rankings of Central Banks
by Emanuel Kohlscheen - 11.04 Spatial Competition in Quality, Demand-Induced Innovation, and Schumpeterian Growth
by Raphael Auer & Philip Sauré - 11.03 CHF Strength and Swiss Export Performance – Evidence and Outlook From a Disaggregate Analysis
by Raphael Auer & Philip Sauré - 11.02 Low-Wage Import Competition, Inflationary Pressure, and Industry Dynamics in Europe
by Raphael Auer & Kathrin Degen & Andreas M. Fischer - 11.01 Development (Paradigm) Failures
by Roland Hodler
2010
- 10.05 Foreign Aid and Enlightened Leaders
by Roland Hodler & Paul A. Raschky - 10.04 Compulsory Voting and Public Finance
by Roland Hodler - 10.03 The Home Bias in Equities and Distribution Costs
by Philipp Harms & Mathias Hoffmann & Christina Ortseifer - 10.02 Into the Allocation Puzzle - A Sectoral Analysis
by Dennis Reinhardt - 10.01 Biased Experts, Costly Lies, and Binary Decisions
by Roland Hodler & Simon Loertscher & Dominic Rohner
2009
- 09.06 Deciding to Peg the Exchange Rate in Developing Countries:The Role of Private-Sector Debt
by Philipp Harms & Matthias Hoffmann - 09.05 Product Heterogeneity, Within-Industry Trade Patterns, and the Home Bias of Consumption?
by Raphael Auer - 09.04 Can Parameter Instability Explain the Meese-Rogoff Puzzle?
by Philippe Bacchetta & Eric van Wincoop & Toni Beutler - 09.03 The Colonial and Geographic Origins of Comparative Development
by Raphael Auer - 09.02 The Demographics of Expropriation Risk
by Philipp Harms & Philipp an de Meulen - 09.01 Offshoring Along the Production Chain
by Philipp Harms & Oliver Lorz & Dieter Urban
2008
- 08.05 Debt Maturity without Commitment
by Dirk Niepelt - 08.04 Are Spectral Estimators Useful for Implementing Long-Run Restrictions in SVARs?
by Nils Herger - 08.03 Monetary Policy in a Small Open Economy Model: A DSGE-VAR Approach for Switzerland
by Gregor Bäurle & Tobias Menz - 08.02 Managing Beliefs about Monetary Policy under Discretion?
by Elmar Mertens - 08.01 Are Spectral Estimators Useful for Implementing Long-Run Restrictions in SVARs?
by Elmar Mertens
2007
- 07.05 Population Ageing, Government Budgets, and Productivity Growth in Politico-Economic Equilibrium
by Martín Gonzales-Eiras & Dirk Niepelt - 07.04 How does private foreign borrowing affect the risk of sovereign default in developing countries?
by Oya Celasun & Philipp Harms - 07.03 Words, deeds, and outcomes: A survey on the growth effects of exchange rate regimes
by Philipp Harms & Marco Kretschmann - 07.02 The Future of Social Security
by Martin Gonzalez-Eiras & Dirk Niepelt - 07.01 Random Walk Expectations and the Forward Discount Puzzle
by Philippe Bacchetta & Eric van Wincoop
2006
- 06.04 Predictability in Financial Markets: What Do Survey Expectations Tell Us?
by Philippe Bacchetta & Elmar Mertens & Eric van Wincoop - 06.03 The Stability Pact - Rationales, Problems, Alternatives
by Assar Lindbeck & Dirk Niepelt - 06.02 Exchange Rate Volatility and Productivity Growth: The Role of Financial Development
by Philippe Aghion & Philippe Bacchetta & Romain Ranciere & Kenneth Rogoff - 06.01 Financing Government Expenditures Optimally
by Pinar Ayse Yesin
2005
- 05.05 Puzzling Comovements between Output and Interest Rates? Multiple Shocks are the Answer
by Elmar Mertens - 05.04 Starving the Beast? Intra-Generational Conflict and Balanced Budget Rules
by Dirk Niepelt - 05.03 Incomplete Information Processing: A Solution to the Forward Discount Puzzle
by Philippe Bacchetta & Eric van Wincoop - 05.02 Shock Identification of Macroeconomic Forecasts based on Daily Panels
by Marlene Amstad & Andreas Fischer - 05.01 Measuring Income Elasticity for Swiss Money Demand: What do the cantons say about financial innovation?
by Andreas Fischer
2004
- 04.07 Timing Tax Evasion
by Dirk Niepelt - 04.06 Sequential Information Flow and Real-Time Diagnosis of Swiss Inflation: Intra-Monthly DCF Estimates for a Low-Inflation Environment
by Andreas Fischer & Marlene Amstad - 04.05 Foreign aid and developing countries' creditworthiness
by Philipp Harms & Michael Rauber - 04.04 Price Clustering in the FX Market: A Disaggregate Analysis using Central Bank Interventions
by Andreas Fischer - 04.03 Higher Order Expectations in Asset Pricing
by Philippe Bacchetta & Eric van Wincoop - 04.02 Tax Collection Costs, Tax Evasion and Optimal Interest Rates
by Pinar Yesin - 04.01 A Scapegoat Model of Exchange Rate Fluctuations
by Philippe Bacchetta & Eric van Wincoop
2003
- 03.07 Optimal Cyclical Monetary Policy: Does Steady-State Inflation Matter?
by Samuel Reynard - 03.06 Reuters News Reports versus Official Interventions: A Cautionary Warning
by Andreas Fischer - 03.05 The New Basel Accord: Implications of the Co-existence between the Standardized Approach and the Internal Ratings-based Approach
by Bertrand Rime - 03.04 Aid, Governance, and Private Foreign Investment: Some Puzzling Findings and a Possible Explanation
by Philipp Harms & Matthias Lutz - 03.03 Understanding Reserve Volatility in Emerging Markets: A Look at the Long-Run
by Ricarda Demarmels & Andreas Fischer - 03.02 Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?
by Philippe Bacchetta & Eric van Wincoop - 03.01 Fixing Swiss Potholes: The Importance and Cyclical Nature of Improvements
by Michael Dueker & Andreas Fischer
2002
- 02.08 Product Market Deregulation and Labor Market Outcomes
by Monique Ebell & Christian Haefke - 02.07 Deregulation and the Current Account
by Philipp Harms - 02.06 Growing into and out of Social Conflict
by Philipp Harms & Stefan Zink - 02.05 Why Do Consumer Prices React less than Import Prices to Exchange Rates?
by Philippe Bacchetta & Eric van Wincoop - 02.04 The Relationship between Risk and Capital in Swiss commercial Banks: A Panel Study
by Robert Bichsel & Jürg Blum - 02.03 Fluctuations in the Swiss Franc: What has Changed Since the Euro's Introduction?
by Andreas M. Fischer - 02.02 Understanding Reserve Volatility in Emerging Markets: A Look at the Last Thirty Years
by Ricarda Demarmels & Andreas M. Fischer - 02.01 Stochastic Capital Depreciation and the Comovement of Hours and Productivity
by Michael Dueker & Andreas Fischer & Robert D. Dittmar
2001
- 01.07 A Theory of the Currency Denomination of International Trade
by Philippe Bacchetta & Eric van Wincoop - 01.06 Do Depositors Discipline Swiss Banks?
by Urs Birchler & Andréa M. Maechler - 01.05 A corporate Balance-Sheet Approach to Currency Crises
by Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee - 01.04 Bank Integration and Business Volatility in the U.S
by Don Morgan & Bertrand Rime & Philip Strahan - 01.03 The Performance of Universal Banks: Evidence from Switzerland
by Bertrand Rime & Kevin J. Stiroh - 01.02 The Mechanics of a successful Exchange-Rate Peg: Lessons from Emerging Markets
by Michael Dueker & Andreas Fischer - 01.01 Why are Asset Returns More Volatile during Recessions? A Theoretical Explanation
by Monique Ebell
2000
- 99.01 update Capital Markets and the Instability of Open Economies
by Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee - 00.14 Are banks excessively monitored?
by Urs W. Birchler - 00.13 Financial Development and Stock Market performance
by Harris Dellas & Martin K. Hess - 00.12 Alternative Indicator of Moneary Policy for a Small Open Economy
by Nicolas A. Cuche - 00.11 Trade Flows, Prices, and The Exchange Rate Regime
by Philippe Bacchetta & Eric van Wincoop - 00.10 Monetary policy with forward-looking rules: The Swiss case
by Nicolas A. Cuche - 00.09 The Politics of Trade Liberalization in the Presence of FDI Incentives
by Andréa M. Maechler - 00.08 The Limits of Market Discipline in Reducing Banks' Risk Taking
by Jürg Blum - 00.07 Currency Crises and Monetary Policy in an Economy with Credit Constraints
by Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee - 00.06 Financial Development and the Sensitivity of Stock Markets to External Influences
by Harris Dellas & Martin K. Hess - 00.05 Bank Capital Behaviour: Empirical Evidence for Switzerland
by Bertrand Rime - 00.04 Do Interventions Smooth Interest Rates?
by Andreas M. Fischer - 00.03 Monetary Policy with Foreign Currency Debt
by Philippe Bacchetta
1999
- 99.06 Estimating The Term Structure of Interest Rates: The Swiss Case
by Iwan Meier - 99.05 A Simple Model of Monetary Pollicy and Currency Crises
by Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee - 99.04 Trade Credit and the Bank Lending Channel
by Jeffrey H. Nilsen - 99.03 Modering Financial Fragility In Transition Economies
by Jeffrey H. Nilsen & Riccardo Rovelli - 99.02 Estimating Monthly GDP In A General Kalman Filter Framework: Evidence From Switzerland
by Nicolas A. Cuche & Martin K. Hess - 99.01 Capital Markets and the Instability of Open Economies
by Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee - 00.02 The UBS-SBC Merger and Competition in the Swiss Retail Banking Sector
by Dominik Egli & Bertrand Rime - 00.01 Bankruptcy Priority for Bank Deposits: a Contract Theoretic Explanation
by Urs W. Birchler
1998
- 98.04 Does Exchange Rate Stability Increase Trade and Capital Flows?
by Philippe Bacchetta & Eric van Wincoop - 98.03 Why did Czech Banks Switch From Loans in 1995?
by Jeffrey H. Nilsen - 98.02 Financial Liberalization and Volatility in Emerging Market Economies
by Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee - 98.01 Capital flows to Emerging Markets: Liberalization, Overshooting, and Volatility
by Philippe Bacchetta & Eric van Wincoop