Working Papers
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993
2013
Sylvia Kaufmann and Christian Schuhmacher
"Bayesian estimation of sparse dynamic factor
models with order-independent identification"
Raphael A. Auer
"What Drives Target2 Balances? Evidence From a
Panel Analysis"
Nils Herger
"On Discrete Location Choice Models"
Raphael A. Auer
"Product Heterogeneity, Cross-Country Taste
Differences, and the Consumption Home Bias"
2012
Toni Beutler
"Forecasting Exchange Rates with Commodity
Convenience Yields"
Martín Gonzalez-Eiras and Dirk Niepelt
"Economic and Politico-Economic Equivalence"
Filippo Brutti and Philip Sauré
"Transmission of Sovereign Risk in the Euro Crisis"
2011
Toni Beutler and Mathieu Grobéty
"The Collateral Channel
under Imperfect Debt Enforcement"
Philipp Harms and Pierre-Guillaume Méon
"An FDI is an FDI is an FDI?
The growth effects of greenfield investment and
mergers and acquisitions in developing countries"
Yves Ortiz
"Prices and Choices in the
Swiss Health Care Insurance Market"
Yves Ortiz and Martin Schüle
"Limited Rationality and Strategic Interaction:
A Probabilistic Multi-Agent Model"
Salvatore Dell’Erba and Dennis Reinhardt
"Surfing the Capital Waves:
A sector-level examination of surges in FDI
inflows"
Martín Gonzalez-Eiras and Dirk Niepelt
"Ageing, Government Budgets, Retirement, and
Growth"
Emanuel Kohlscheen
"The Journal Rankings of Central Banks"
Raphael Auer and Philip Sauré
"Spatial Competition in Quality, Demand-
Induced Innovation,
and Schumpeterian Growth"
Raphael Auer and Philip Sauré
"CHF Strength and Swiss Export Performance –
Evidence and Outlook From
a Disaggregate Analysis"
Raphael Auer, Kathrin Degen, and Andreas M. Fischer
"Low-Wage Import Competition, Inflationary Pressure,
and Industry Dynamics in Europe"
Roland Hodler
"Development (Paradigm) Failures"
2010
Roland Hodler and Paul A. Raschky
"Foreign Aid and Enlightened Leaders"
Roland Hodler
"Compulsory Voting and Public Finance"
Philipp Harms, Mathias Hoffmann and Christina Ortseifer
"The Home Bias in Equities and Distribution Costs"
Dennis Reinhardt
"Into the Allocation Puzzle - A Sectoral Analysis"
Roland Hodler, Simon Loertscher and Dominic Rohner
"Biased Experts, Costly Lies, and Binary
Decisions"
2009
Philipp Harms and Mathias Hoffmann
"Deciding to Peg the Exchange Rate in Developing Countries:
The Role of Private-Sector Debt"
Raphael Auer
"Product Heterogeneity, Within-Industry Trade
Patterns, and the Home Bias of Consumption?"
Philippe Bacchetta, Eric van Wincoop and Toni Beutler
"Can Parameter Instability Explain the Meese-Rogoff Puzzle?"
Published in: Lucrezia Reichlin and Kenneth D. West (eds.) NBER International Seminar on Macroeconomics 2009, pp. 125-173.
Raphael Auer
"The Colonial and Geographic Origins of Comparative Development"
Philipp Harms and Philipp an de Meulen
"The Demographics of Expropriation Risk"
Philipp Harms, Oliver Lorz and Dieter Urban
"Offshoring Along the Production Chain"
2008
Dirk Niepelt
"Debt Maturity without Commitment"
Nils Herger
"Explaining Bank Failures in the United States: The Role of Self-Fulfilling Prophecies, Systemic Risk, Banking Regulation, and Contagion"
Gregor Bäurle and Tobias Menz
"Monetary Policy in a Small Open Economy Model: A DSGE-VAR Approach for Switzerland"
Elmar Mertens
"Managing Beliefs about Monetary Policy under Discretion"
Elmar Mertens
"Are Spectral Estimators Useful for Implementing
Long-Run Restrictions in SVARs?"
2007
Martín Gonzalez-Eiras and Dirk Niepelt
"Population Ageing, Government Budgets, and Productivity Growth in Politico-Economic Equilibrium"
Oya Celasun and Philipp Harms
"How does private foreign borrowing affect the risk of sovereign default in developing countries?"
Philipp Harms and Marco Kretschmann
"Words, Deeds, and Outcomes: A Survey on the Growth Effects of Exchange Rate Regimes"
Published in: Journal of Economic Surveys 23(1), p.139-164, 2009
Martín Gonzalez-Eiras and Dirk Niepelt
"The Future of Social Security"
Forhtcoming in Journal of Monetary Economics (March 2008)
Philippe Bacchetta and Eric van Wincoop
"Random Walk Expectations and the Forward Discount Puzzle"
2006
06.04
Philippe Bacchetta, Elmar Mertens, and Eric van Wincoop
"Predictability in Financial Markets: What Do Survey Expectations Tell Us?"
Published in: Journal of International Money and Finance, 2009, Vol 28 (3), 406-426
06.03
Assar Lindbeck and Dirk Niepelt
"The Stability Pact—Rationales, Problems, Alternatives"
Published in: Kyklos 59(4), November 2006
06.02
Philippe Aghion, Philippe Bacchetta, Romain Ranciere, and Kenneth Rogoff
"Exchange Rate Volatility and Productivity Growth: The Role of Financial Development"
06.01
Pinar Yesin
"Financing Government Expenditures Optimally"
2005
05.05
Elmar Mertens
"Structural Shocks and the Comovements between Output and Interest Rates"
05.04
Dirk Niepelt
"Starving the Beast? Intra-Generational Conflict and Balanced Budget Rules"
Published in: European Economic Review 51(1), January 2007
05.03
Philippe Bacchetta and Eric van Wincoop
"Incomplete Information Processing: A Solution to the Forward Discount Puzzle"
Marlene Amstad and Andreas M. Fischer
"Shock Identification of Macroeconomic Forecasts based on Daily Panels"
Published in: Federal Reserve Bank of New York Staff Report No. 206
05.01
Andreas M. Fischer
"Measuring Income Elasticity for Swiss Money Demand: What do the cantons say about financial innovation?"
Published in: European Economic Review,51 (7), p.1641-1660, Oct 2007
2004
04.07
Dirk Niepelt
"Timing Tax Evasion"
Published in: Journal of Public Economics 89 (9-10), September 2005
04.06
Marlene Amstad and Andreas M. Fischer
"Sequential Information Flow and Real-Time Diagnosis of Swiss Inflation: Intra-Monthly DCF Estimates for a Low-Inflation Environment"
04.05
Philipp Harms and Michael Rauber
"Foreign aid and developing countries’ creditworthiness"
Update (July , 2006)
04.04
Andreas M. Fischer
"Price Clustering in the FX Market: A Disaggregate Analysis using Central Bank Interventions"
04.03
Philippe Bacchetta and Eric van Wincoop
"Higher Order Expectations in Asset Pricing"
04.02
Pinar Yesin
"Tax Collection Costs, Tax Evasion and Optimal Interest Rates"
04.01
Philippe Bacchetta and Eric van Wincoop
"A Scapegoat Model of Exchange Rate Fluctuations"
Published in: American Economic Review 94 (2004), No. 2, pp.114-118
2003
03.07
Samuel Reynard
"Optimal Cyclical Monetary Policy: Does Steady-State Inflation Matter?"
03.06
Andreas M. Fischer
"On the Inadequacy of Newswire Reports for Empirical Research on Foreign Exchange Interventions"
Published in: Journal of International Money and Finance, 25 (8) p.1226-1240, Dec 2006
03.05
Bertrand Rime
"The New Basel Accord: Implications of the Co-existence between the Standardized Approach and the Internal Ratings-based Approach"
03.04
Philipp Harms and Matthias Lutz
"Aid, Governance, and Private Foreign Investment: Some Puzzling Findings and a Possible Explanation"
Published under the title "Aid, Governance, and Private Foreign Investment: Some Puzzling Findings for the 1990s" in: The Economic Journal 116 (2006), Issue 513, pp. 773-790
03.03
Ricarda Demarmels and Andreas M. Fischer
"Understanding Reserve Volatility in Emerging Markets: A Look at the Long-Run"
Update of working paper 02.02, "Understanding Reserve Volatility in Emerging Markets: A Look at the Last Thirty Years"
Published in: Emerging Markets Review, 4 (2003), pp. 145-164
03.02
Philippe Bacchetta and Eric van Wincoop
"Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?"
Update available (May 2004)
Published in: American Economic Review 96 (2006), No. 3, pp. 552-576
03.01
Michael J. Dueker and Andreas M. Fischer
"Fixing Swiss Potholes: The Importance and Cyclical Nature of Improvements"
Published in: Economic Letters 79 (2003), pp. 409-415
2002
02.08
Monique Ebell and Christian Haefke
"Product Market Deregulation and Labor Market Outcomes"
Update available (March 2004)
02.07
Philipp Harms
"Deregulation and the current account"
Update (December 14, 2005)
02.06
Philipp Harms and Stefan Zink
"Growing into and out of social conflict"
Published in: Economica 72 (2005), pp. 267-286
02.05
Philippe Bacchetta and Eric van Wincoop
"Why Do Consumer Prices react less than Import Prices to Exchange Rates?"
Published in: Journal of the European Economic Association 1 (2003), No. 2-3 pp. 662-670
02.04
Robert Bichsel and Jürg Blum
"The Relationship Between Risk and Capital in Swiss Commercial Banks: A Panel Study"
02.03
Andreas M. Fischer
"Fluctuations in the Swiss Franc: What has Changed Since the Euro's Introduction?"
Published in: Journal of Public Policy 22 (2002), No.2, pp. 143-159
02.02
Ricarda Demamerls and Andreas M.Fischer
"Understanding Reserve Volatility in Emerging Markets: A Look at the Last Thirty Years"
02.01
Dueker, Michael J., Andreas M. Fischer and Robert D. Dittmar
"Stochastic Capital Depreciation and the Comovement of Hours and Productivity"
Forthcoming in Topics of Macroeconomics
2001
01.07
Philippe Bacchetta and Eric van Wincoop
"A Theory of the Currency Denomination of International Trade"
Published in: Journal of International Economics 67 (2005), No. 2, pp. 295-319
01.06
Urs W. Birchler and Andréa M. Maechler
"Do Depositors Discipline Swiss Banks?"
Published in: Research in Financial Services 14 (2002), pp. 243-275
01.05
Philippe Aghion, Philippe Bacchetta, and Abhijit Banerjee
"A Corporate Balance-Sheet Approach to Currency Crises"
Published in: Journal of Economic Theory 113 (2004), No. 1, pp. 6-30
01.04
Don Morgan, Bertrand Rime, and Philip Strahan
"Bank Integration and Business Volatility in the U.S."
01.03
Bertrand Rime and Kevin J. Stiroh
"The Performance of Universal Banks: Evidence from Switzerland"
Published in: Journal of Banking and Finance 27 (2003), No. 11, pp. 2121-2150
01.02
Michael Dueker and Andreas M. Fischer
"The Mechanics of a Successful Exchange-Rate Peg: Lessons for Emerging Markets"
Published in: Federal Reserve Bank of St. Louis Review 83 (2001), No. 5, pp. 47-56
01.01
Monique C. Ebell
"Why Are Asset Returns More Volatile during Recessions? A Theoretical Explanation"
2000
00.14
Urs W. Birchler
"Are Banks Excessively Monitored?"
00.13
Harris Dellas and Martin K. Hess
"Financial Development and Stock Market Performance"
Published in: Journal of International Money and Finance 24 (2005), Issue 6, pp. 891-912
00.12
Nicolas A. Cuche
"Alternative Indicator of Monetary Policy for a Small Open Economy"
00.11
Philippe Bacchetta and Eric van Wincoop
"Trade Flows, Prices, and The Exchange Rate Regime"
Published in: Bank of Canada conference volume Revisiting the Case for Flexible Exchange Rates, 2001, pp. 213-231
00.10
Nicolas A. Cuche
"Monetary Policy with Forward-looking Rules: The Swiss Case"
00.09
Andréa M. Maechler
"The Politics of Trade Liberalization in the Presence of FDI Incentives"
00.08
Jürg Blum
"The Limits of Market Discipline in Reducing Banks' Risk Taking"
Published under the title "Subordinated debt, market discipline, and banks' risk taking" in: Journal of Banking and Finance 26 (2002), No. 7, pp. 1429-1443
00.07
Philippe Aghion, Philippe Bacchetta, and Abhijit Banerjee
"Currency Crises and Monetary Policy in an Economy with Credit Constraints"
Published in: European Economic Review 45 (2001), No. 7, pp. 1121-1150
00.06
Harris Dellas and Martin K. Hess
"Financial Development and the Sensitivity of Stock Markets to External Influences"
Published in: Review of International Economics 10 (2002), No. 3, pp. 525-538
00.05
Bertrand Rime
"Bank Capital Behaviour: Empirical Evidence for Switzerland"
Published in: Journal of Banking and Finance 25 (2001), No. 4, pp. 789-805
00.04
Andreas M. Fischer
"Do Interventions Smooth Interest Rates?"
00.03
Philippe Bacchetta
"Monetary Policy with Foreign Currency Debt"
Published in spanish, under the title "Política Monetaria con Deuda Denominada en Moneda Extranjera" in: Moneda y Crédito 210 (2000), pp. 69 - 105
00.02
Dominik Egli and Bertrand Rime
"The UBS-SBC Merger and Competition in the Swiss Retail Banking Sector"
00.01
Urs W. Birchler
"Bankruptcy Priority for Bank Deposits: a Contract Theoretic Explanation"
Published in: The Review of Financial Studies 13 (2000), No. 3, pp. 813 - 840
1999
99.06
Iwan Meier
"Estimating the Term Structure of Interest Rates: the Swiss Case"
99.05
Philippe Aghion, Philippe Bacchetta, and Abhijit Banerjee
"A Simple Model of Monetary Policy and Currency Crises"
Published in: European Economic Review 44 (2000), No. 4-6, pp. 728-738
99.04
Jeffrey H. Nilsen
"Trade Credit and the Bank Lending Channel"
Published in: Journal of Money, Credit & Banking 34 (2002), No. 1, pp. 242-269
99.03
Jeffrey H. Nilsen and Riccardo Rovelli
"Modeling Financial Fragility in Transition Economies"
Published under the title "Investor risk aversion and financial fragility in emerging economies" in: Journal of International Financial Markets, Institutions and Money 11 (2001), No. 3-4, pp. 443-474
99.02
Nicolas A. Cuche and Martin K. Hess
"Estimating Monthly GDP in a General Kalman Filter Framework: Evidence from Switzerland"
Published in: Economic and Financial Modelling 7 (2000), No. 4, pp. 153-194
99.01
Philippe Aghion, Philippe Bacchetta and Abhijit Banerjee
"Capital Markets and the Instability of Open Economies"
Published under the title "Financial Development and the Instability of Open Economies" in: Journal of Monetary Economics 51 (2004), No. 6, pp. 1077-1106
1998
98.04
Philippe Bacchetta and Eric van Wincoop
"Does Exchange Rate Stability Increase Trade and Capital Flows?"
Update (March 1999) under the new title "Does Exchange Rate Stability Increase Trade and Welfare?"
Published in: American Economic Review 90 (2000), No. 5, pp. 1093-1109
98.03
Jeffrey H. Nilsen
"Why Did Czech Banks Switch From Loans in 1995?"
98.02
Philippe Aghion, Philippe Bacchetta Philippe, and Abhijit Banerjee
"Financial Liberalization and Volatility in Emerging Market Economies"
Published in: P.A. Agénor, M. Miller, D. Vines, and A. Weber (eds.), The Asian Financial Crises: Causes, Contagion and Consequences, 1999, Cambridge University Press, under the wrong title "Capital Markets and the Instability of Open Economies"
98.01
Philippe Bacchetta and Eric van Wincoop
"Capital Flows to Emerging Markets: Liberalization, Overshooting and Volatility"
Published in: S. Edwards (ed.), Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, 2000, The University of Chicago Press, pp. 61 - 103
1997
97.01
Philippe Bacchetta and Stefan Gerlach
"Consumption and Credit Constraints: International Evidence"
Published in: Journal of Monetary Economics 40 (1997), No. 2, pp. 207-238
1996
96.01
Philippe Bacchetta and Eric van Wincoop
"Trade in Nominal Assets and Net International Capital Flows"
Published in: Journal of International Money and Finance 19 (2000), No. 1, pp. 55-72
1995
95.11
Philippe Bacchetta and María Paz Espinosa
"Exchange-of-information Clauses in International Tax Treaties"
Published in: International Tax and Public Finance 7 (2000), No. 3, pp. 275-293
95.10
Philippe Bacchetta
"Exchange Rate Policy and Disinflation: The Spanish Experience in the ERM"
Published in: The World Economy 20 (1997), No. 2, 221-238.
95.09
Philippe Bacchetta and Ramon Caminal
"Do Capital Market Imperfections Exacerbate Output Fluctuations?"
Published in: European Economic Review 44 (2000), No. 3, pp. 449-468
95.08
Philippe Bacchetta and Fernando Ballabriga
"The Impact of Monetary Policy and Bank Lending: Some International Evidence"
Published under the title "The Impact of Monetary Policy and Banks' Balance Sheets: Some International Evidence" in: Applied Financial Economics 10 (2000), No. 1, pp. 15-26
95.07
Walter Wasserfallen
"American vs. European Option Pricing Models: Does it Really Matter?"
95.06
Walter Wasserfallen and Christoph Schenk
"Portfolio Insurance for the Small Investor"
Published in: Journal of Derivatives 3 (1996), No. 3, 37-43.
95.05
Philippe Bacchetta
"Capital Controls and the Political Discount: The Spanish Experience in the Late 1980s"
Published in: Open Economies Review 7 (1996), No. 4, pp. 349-369
95.04
Walter Wasserfallen and Daniel Liechti
"The Hedging Performance of Swiss Interest Rate Futures"
Published in: Finanzmarkt und Portfolio Management 9 (1996), No. 4, pp. 446-457
95.03
Philippe Bacchetta and Harris Dellas
"Firm Restructuring and the Optimal Speed of Trade Reform"
Published in: Oxford Economic Papers 49 (1997), No. 2, pp. 291-306
95.02
Walter Wasserfallen
"Interest Rate Differentials and the Structure of Banks' Balance Sheets"
Published in: Finanzmarkt und Portfolio Management 12 (1998), No. 4, pp. 423-440
95.01
René M. Stulz and Walter Wasserfallen
"Foreign Equity Investment Restrictions, Capital Flight, and Shareholder Wealth Maximization, Theory and Evidence"
Published in: Review of Financial Studies 8 (1995), No. 4, pp. 1019-1057
1994
94.03
Philippe Bacchetta and Eric van Wincoop
"Net Capital Flows under Exchange Rate and Price Volatility"
94.02
Philippe Bacchetta and María Paz Espinosa
"Information Sharing and Tax Competition among Governments"
Published in: Journal of International Economics 39 (1995), No. 1-2, pp. 103-121
94.01
Philippe Bacchetta
"Regional Investment and Growth in the European Community"
Published in Spanish, under the title "Inversión Regional y Crecimiento en la Comunidad Europea", in: J.M. Esteban and X. Vives (eds.): Crecimiento y convergencia regional en España y Europa, vol. 2, pp. 405-449, Instituto de Análisis Económico, Barcelona (1994).
1993
93.03
Walter Wasserfallen and Christian Wittleder
"Pricing Initial Public Offerings, Evidence from Germany"
Published in: European Economic Review 38 (1994), No. 7, pp. 1505-1517
93.02
Walter Wasserfallen and Guido Kürsteiner
"Money, Interest Rates and Exchange Rates in the Short Run"
Published in: Journal of Monetary Economics 33 (1994), No. 1, pp. 201-230, under the title "Interest Rates and Exchange Rates under Money Supply Targets: The Swiss Evidence"
93.01
Thomas Stucki and Walter Wasserfallen
"Stock and Option Markets: The Swiss Evidence"
Published in: Journal of Banking & Finance 18 (1994), No. 5, pp. 881-893
page last modified: November 21, 2007