The study employs Data Envelopment Analysis and a MALMQUIST index to analyze the development of total factor productivity in Swiss banking during the period 1988/91. The results show that the increase in total factor productivity was primarily due to improved technical efficiency and to a much...

Economic theory is unclear on the effects of capital regulation on the risk-seeking behavior of banks. This paper attempts to shed light on the issue by examining the impact of the implementation of the guidelines of the 1988 Basle Capital Accord on a large sample of individual banks drawn from...

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Systemic risk in banking has gained renewed prominence in the literature in recent years. To date, empirical studies aimed at assessing the quantitative importance of systemic risk have analyzed the outcomes of historical banking crises. This paper takes a new tack by attempting to assess the...

This study develops a methodology for assessing the efficiency of job placement services based on the matching function. Unlike most previous estimates of the matching function, based on aggregate time-series regressions and parametric functional forms, this study employs micro cross-sectional...

The Lemons model assumes that owners of used cars have an informational advantage over potential buyers with respect to the quality of their vehicles. Owners of bad cars will try to sell them to unsuspecting buyers while owners of good cars will hold on to theirs. Consequently, the quality of...

The lemons model assumes that owners of used cars have an information advantage over potential buyers with respect to the quality of their vehicles. Owners of bad cars try to sell them to ill-informed buyers while owners of good cars hold on to theirs. Consequently, the quality of traded...

This paper investigates the impact of the monetary policy change of the Swiss National Bank (SNB) in 1999 on the Swiss labor market on the basis of a Phillips relationship. Theoretical considerations as well as previous empirical work suggest that the SNB's shift to a more inflation-targeted...