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Incentive Pay and Bank Risk-Taking : Evidence from Austrian, German, and Swiss Banks

Efing, Matthias; Hau, Harald; Kampkötter, Patrick; … - 2021

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …

Persistent link: https://www.econbiz.de/10013224886

Price Setting in a Leading Swiss Online Supermarket

Berka, Martin - 2011

We study a newly released data set of scanner prices for food products in a large Swiss online supermarket. We find that average prices change about every two months, but when we exclude temporary sales, prices are extremely sticky, changing on average once every three years. Non-sale price...

Persistent link: https://www.econbiz.de/10013123701

The Changing Role of Government in Financing Health Care : An International Perspective

Stabile, Mark - 2013

This paper explores the changing role of government involvement in health care financing policy outside the United States. It provides a review of the economics literature in this area to understand the implications of recent policy changes on efficiency, costs and quality. Our review reveals...

Persistent link: https://www.econbiz.de/10013075869

Are Shocks to the Terms of Trade Shocks to Productivity?

Kehoe, Timothy J. - 2007

International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a...

Persistent link: https://www.econbiz.de/10012776937

Exchange Rates and Casualties During the First World War

Hall, George J. - 2002

I estimate two factor models of Swiss exchange rates during the FirstWorldWar. I have data for five of the primary belligerents: Britain, France, Italy, Germany, and Austria-Hungary. At the outbreak of the war, these nations suspended convertibility of their currencies into gold with the promise...

Persistent link: https://www.econbiz.de/10012787085

Identifying the Effect of Election Closeness on Voter Turnout : Evidence from Swiss Referenda

Bursztyn, Leonardo - 2017

We provide evidence of a causal effect of anticipated election closeness on voter turnout, exploiting the precise day-level timing of the release of Swiss national poll results for high-stakes federal referenda, and a novel dataset on daily mail-in voting for the canton of Geneva. Using an event...

Persistent link: https://www.econbiz.de/10012954458

Exchange Rate Policies at the Zero Lower Bound

Amador, Manuel - 2017

We study the problem of a monetary authority pursuing an exchange rate policy that is inconsistent with interest rate parity because of a binding zero lower bound constraint. The resulting violation in interest rate parity generates an inflow of capital that the monetary authority needs to...

Persistent link: https://www.econbiz.de/10012960173

The Abolition of Immigration Restrictions and the Performance of Firms and Workers : Evidence from Switzerland

Beerli, Andreas - 2018

We study a reform that granted European cross-border workers free access to the Swiss labor market and had a stronger effect on regions close to the border. The greater availability of cross-border workers increased foreign employment substantially. Although many cross-border workers were highly...

Persistent link: https://www.econbiz.de/10012907146

Swiss Exchange Rate Policy in the 1930s. Was the Delay in Devaluation Too High a Price to Pay for Conservatism?

Bordo, Michael D. - 2010

In this paper we examine the experience of Switzerland's devaluation in 1936. The Swiss case is of interest because Switzerland was a key member of the gold bloc, and much of the modern academic literature on the Great Depression tries to explain why Switzerland and the other gold bloc...

Persistent link: https://www.econbiz.de/10012760674

Should Central Banks Care About Fiscal Rules?

Leeper, Eric M. - 2016

This essay aims to explain the nature of monetary and fiscal policy interactions and how those interactions could inform the fiscal rules that countries choose to follow. It makes two points: (1) monetary policy control of inflation requires appropriate fiscal backing; (2) European fiscal...

Persistent link: https://www.econbiz.de/10012979774

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