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Incentive Pay and Bank Risk-Taking : Evidence from Austrian, German, and Swiss Banks
Efing, Matthias - 2014
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/10012458200
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Competition, Harmonization and Redistribution : Corporate Taxes in Switzerland
Brülhart, Marius; Köthenbürger, Marko; Krapf, Matthias; … - National Bureau of Economic Research - 2023
Switzerland could be considered as a test case for international corporate-tax policy coordination. It is a federation of 26 fiscally autonomous cantons that have been taxing corporate profits more or less independently for over a century. We document and discuss corporate taxation in...
Persistent link: https://www.econbiz.de/10014436961
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Central Bank Behavior and the Strategy of Monetary Policy : Observations From Six Industrialized Countries
Bernanke, Ben - 1992
intentions to the public; however. no central bank. adheres strictly to targets in the short run. More normatively. the case … some benefits of targeting, as long as there is some commitment by the central bank ultimately to reverse short …
Persistent link: https://www.econbiz.de/10012474897
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A Multi-Country Comparison of Term Structure Forecasts at Long Horizons
Jorion, Philippe - 1991
This paper extends previous work on the information in the term structure at longer maturities to other countries besides the United states, using a newly constructed data set for 1 to 5 year interest rates from Britain, West Germany and Switzerland. Even with wide differences in inflation...
Persistent link: https://www.econbiz.de/10012475446
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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/10012480953
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The Impact of Social Security on Pension Claiming and Retirement : Active vs. Passive Decisions
Lalive, Rafael - 2020
We exploit a unique Swiss reform to identify the importance of passivity, claiming social security benefits at the Full Retirement Age (FRA). Sharp discontinuities generated by the reform reveal that raising the FRA while imposing small early claiming penalties significantly delays pension...
Persistent link: https://www.econbiz.de/10012481469
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Taxing Our Wealth
Scheuer, Florian - 2020
This paper evaluates proposals for an annual wealth tax. While a dozen OECD countries levied wealth taxes in the recent past, now only three retain them, with only Switzerland raising a comparable fraction of revenue as recent proposals for a US wealth tax. Studies of these taxes sometimes, but...
Persistent link: https://www.econbiz.de/10012482369
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Exchange Rates and Prices : Evidence from the 2015 Swiss Franc Appreciation
Auer, Raphael A.; Burstein, Ariel T.; Lein-Rupprecht, … - National Bureau of Economic Research - 2021
We dissect the impact of a large and sudden exchange rate appreciation on Swiss border import prices, retail prices, and consumer expenditures on domestic and imported non-durable goods, following the removal of the EUR/CHF floor in January 2015. Cross-sectional variation in border price changes...
Persistent link: https://www.econbiz.de/10012482622
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Intertemporal Labor Supply Substitution? Evidence from the Swiss Income Tax Holidays
Martinez, Isabel Z. - 2018
This paper estimates the intertemporal labor supply (Frisch) elasticity of substitution exploiting an unusual tax policy change in Switzerland. In the late 1990s, Switzerland switched from an income tax system where current taxes were based on the previous two years' income to a standard annual...
Persistent link: https://www.econbiz.de/10012453085
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Central Banks : Evolution and Innovation in Historical Perspective
Bordo, Michael D. - 2017
up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and …
Persistent link: https://www.econbiz.de/10012453864