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Expectation Shocks and Learning as Drivers of the Business Cycle
Milani, Fabio - C.E.P.R. Discussion Papers - 2010
estimation of a benchmark New Keynesian model. The observed expectations are modeled as formed from a near-rational expectation …
Persistent link: https://www.econbiz.de/10008468669
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Central Bank Communication and Output Stabilization
Eijffinger, Sylvester C W; Hoeberichts, Marco; … - C.E.P.R. Discussion Papers - 2004
Some central banks have a reputation for being secretive. A justification for this behaviour that we find in the literature is that being transparent about operations and beliefs hinders the central bank in achieving the best outcome. In other words, a central bank needs flexibility and...
Persistent link: https://www.econbiz.de/10005124006
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Seemingly Irrelevant Events Affect Perceptions and Expectations - The FIFA World Cup 2006 as a Natural Experiment
Dohmen, Thomas J; Falk, Armin; Huffman, David; Sunde, Uwe - C.E.P.R. Discussion Papers - 2006
Prominent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct evidence...
Persistent link: https://www.econbiz.de/10005791748
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The Effect of College Employment on Graduation: Evidence from France
Beffy, Magali; Fougère, Denis; Maurel, Arnaud - C.E.P.R. Discussion Papers - 2013
This paper investigates the effect of employment while in college on graduation, using data from the French Labour Force Surveys over the period 1992 to 2002. Using spatial variation in low-skill youth unemployment rates to circumvent the endogeneity of college employment decisions, we find a...
Persistent link: https://www.econbiz.de/10011083370
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Competition Policy in Switzerland
Neven, Damien J; von Ungern-Sternberg, Thomas - C.E.P.R. Discussion Papers - 1996
This paper provides a critical review of competition policy in Switzerland. We analyse the legal statute, the …
Persistent link: https://www.econbiz.de/10005124301
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Regional Treatment Intensity as an Instrument for the Evaluation of Labour Market Policies
Fröhlich, Markus; Lechner, Michael - C.E.P.R. Discussion Papers - 2004
small sample problems occurring in IV estimation, our results suggest that ALMP increases individual employment …
Persistent link: https://www.econbiz.de/10005498153
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Does Subsidized Temporary Employment Get the Unemployed Back to Work? An Econometric Analysis of Two Different Schemes
Gerfin, Michael; Lechner, Michael; Stieger, Heidi - C.E.P.R. Discussion Papers - 2002
schemes of subsidized temporary employment implemented in Switzerland. One scheme operates as a non-profit employment …
Persistent link: https://www.econbiz.de/10005504692
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International Portfolio Holdings and Swiss Franc Asset Returns
Kugler, Peter; Weder di Mauro, Beatrice - C.E.P.R. Discussion Papers - 2004
This Paper revisits the puzzle of low returns on Swiss franc assets using a new dataset of international portfolio holdings at Swiss banks. The main findings are as follows. First, we find that the return anomaly is present only for fixed income assets and not for equity. Second, it is mostly...
Persistent link: https://www.econbiz.de/10005656129
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Volatile Top Income Shares in Switzerland? Reassessing the Evolution Between 1981 and 2009
Foellmi, Reto; Martínez, Isabel Z. - C.E.P.R. Discussion Papers - 2014
We study the recent evolution of top incomes in Switzerland, analyzing both social security data on labor incomes and ….01 percent’s share even doubled, putting Switzerland similar to European countries for the top 1 percent group but closer to the … suggests that labor incomes have become more important among top income earners in Switzerland. This is in line with findings …
Persistent link: https://www.econbiz.de/10011083290
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Do Agglomeration Economies Reduce the Sensitivity of Firm Location to Tax Differentials?
Brülhart, Marius; Jametti, Mario; Schmidheiny, Kurt - C.E.P.R. Discussion Papers - 2007
Low corporate taxes can help attract new firms. This is the main mechanism underpinning the standard 'race-to-the-bottom' view of tax competition. A recent theoretical literature has qualified this view by formalizing the argument that agglomeration forces can reduce firms' sensitivity to tax...
Persistent link: https://www.econbiz.de/10005791554