A longstanding theoretical discussion on the merits of prices vs. quantities for regulating emissions under uncertainty exists in environmental policy literature. However, empirical evidence w.r.t. instrument choice has not been put forward so far. In particular, very little is known about...

This paper reviews the market reaction to bank rescue packages announced in six countries between October 2008 and January 2009. The study distinguishes the impact on creditors as seen in the change of CDS spreads from the impact on shareholders as seen in the movement of bank stock prices....

We show that the FX impact of monetary policy has been growing significantly. We use a high-frequency event study of the joint response of fixed income instruments and exchange rates to monetary policy news from seven major central banks spanning 2004-2015. News affecting short maturity bonds...

We study the effect of the COVID-19 pandemic and the associated government measures on individual mobility choices in Switzerland. Our data is based on over 1,000 people for which we observe all trips during eight weeks before the pandemic and again for up to 6 months after its onset. We find an...

This paper revisits the puzzle of low returns on Swiss Franc assets using a new data set of portfolio holdings of residents and non residents 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....

Swiss climate policy consists of three regulatory instruments for greenhouse gas emissions reduction: A CO 2 levy, the Swiss Emissions Trading System (CH EHS), and an additional nonEHS" program for medium-sized plants that consists of command-and-control elements plus a sizeable abatement...

We study the effect of the COVID-19 pandemic and the associated government measures on individual mobility choices in Switzerland. Our data is based on over 1,600 people for which we observe all trips during eight weeks before the pandemic and until May 2021. We find an overall reduction of...