This article shows that the inability to use monetary policy for macroeconomic stabilization leaves a government more vulnerable to a rollover crisis. We study a sovereign default model with self-fulfilling rollover crises, foreign currency debt, and nomin ...
Growing urban population implies many challenges for the municipalities in terms of mobility, housing, waste management or infrastructures. Public policies are thus needed to ensure a sustainable development. The main objective of this thesis is to analyze ...
We managed to construct two novel and functional methodologies to depict the evolution of energy efficiency improvements (EEI) in two Swiss sectors, housing and cement. This allowed us to obtain a better representation of EEI triggered by energy and climat ...
Trait anxiety is an important phenotype in the prediction of stress-induced neuropsychiatric disorders. While the role of trait anxiety in mental effort and cognitive impairment is well documented, much less is known about its influence on motivated behavi ...
2019
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The financial crisis of 2007-2009 drew attention to the essential role of banks for the macroeconomy and to the importance of having a resilient financial sector. A vulnerability in the financial sector spills over to the real economy and can drive it into ...
We argue that the time-varying regional distribution of housing equity influences the aggregate consequences of monetary policy through its effects on mortgage refinancing. Using detailed loan-level data, we show that regional differences in housing equity ...
Central banks around the world are exploring and in some cases even piloting central bank digital currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer p ...
This dissertation consists of three chapters. The first chapter empirically investigates how the intensity of product market competition affects the cost of debt. Using a large sample of loans to publicly traded US manufacturing firms, the chapter provides ...
In recent years there has been a proliferation of privately owned sensing devices such as GPS devices, cameras, home weather stations and, more importantly, smart-phones. Most of these devices are either intrinsically mobile, e.g., smart-phones and GPS dev ...
Monetary incentives, such as subsidies or bonuses, are often considered as a way to foster contributions to public goods in society and firms. This paper investigates experimentally the effect of private contribution incentives in the presence of a norm en ...