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Concept

Banque centrale

Publications associées (24)

Tiers of joy? Reserve tiering and bank behavior in a negative-rate environment

Andreas Fuster

Negative interest rate regimes typically involve reserve tiering to exempt a portion of bank reserves from negative rates. We study the effects on bank behavior of a large and unanticipated change in reserve tiering by the Swiss National Bank that generate ...

2024

Can one hear the shape of a target zone?

Max-Olivier Hongler

We develop an exchange rate target zone model with finite exit time and non-Gaussian tails. We show how the tails are a consequence of time-varying investor risk aversion, which generates mean-preserving spreads in the fundamental distribution. We solve ex ...

2023

Writing and Drawing Inventions: Patents and Technology in France and the United States (18th-19th centuries)

Jérôme Baudry

Description (through texts, images, models or samples) played a central role in the patent regimes that emerged in the eighteenth century, first in England, later in the United States and in France. Description ensured that the contract—protection in excha ...

2023

Monetary Independence And Rollover Crises

Jorge Mondragon Minero

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 ...

OXFORD UNIV PRESS INC2022

Essays in Monetary Policy and Asset Pricing

Benoit Vincent Sylvain Cornet

This thesis uses machine learning techniques and text data to investigate the relationships that arise between the Fed and financial markets, and their consequences for asset prices. The first chapter, entitled Market Expectations and the Impact of Unconv ...

EPFL2022

Essays in Financial Economics

Kevin Marc Rageth

This thesis consists of two chapters that study separate subjects in the area of corporate finance. The first chapter, titled â Economic Gains in Bank Mergers and Acquisitions â Evidence from Targetsâ , investigates economic gains in bank mergers and ...

EPFL2022

Asset Pricing and Monetary Policy

Nicolas Gauderon

Classical theory asserts that the formation of prices is the result of aggregated decisions of economics agent such as households or corporation. However central banks are very important agents that have often been neglected in asset pricing models. Centra ...

EPFL2022

Scale effects on efficiency and profitability in the Swiss banking sector

Andreas Fuster

This paper analyzes efficiency and profitability in the Swiss banking sector over the period 1997–2019. We find strong evidence for scale economies: for most banks in the sample, efficiency and profitability increase with bank size. Using an instrumental v ...

2022

Essays on Mortgage Supply in a Low Rate Environment and Gender Effects of Covid-19

Yu Wu

After the financial crisis, policy rates in the major advanced economies have moved downwards to near/below zero. Some countries have experienced an increase in house prices and an expansion of mortgages. Also, there have been considerable changes in the m ...

EPFL2021

Development of a freely distributable CFD tool for approximate and detailed simulations of the flow around a complex of buildings

Elisa El Sergany

Indo-Swiss Building Energy Efficiency Project (BEEP) is a cooperation project between the Ministry of Power, Government of India, and the Federal Department of Foreign Affairs of the Swiss Confederation. Started in 2011, the project's central focus is to h ...

IOP PUBLISHING LTD2021

Three Essays in Banking and Finance

Damien Olivier Klossner

This thesis develops three models that study the motivation of various agents to take on debt, and the impact that excessive financial leverage can have on social welfare. In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...

EPFL2019

Three Problems of Liquidity under Asymmetric Information

Sylvain Jean Pascal Carré

This thesis develops models for three problems of liquidity under asymmetric information. In the chapter "Disclosures, Rollover Risk, and Debt Runs" I build a model of dynamic debt runs without perfect information in order to understand the impact of asset ...

EPFL2019

Application of Association Rules to Determine Building Typological Classes for Seismic Damage Predictions at Regional Scale: The Case Study of Basel

Pierino Lestuzzi, Yves Sylvain Gilles Reuland, Lorenzo Diana

Assessing seismic vulnerability at large scales requires accurate attribution of individual buildings to more general typological classes that are representative of the seismic behavior of the buildings sharing same attributes. One-by-one evaluation of all ...

2019

Essays on adaptation to rare disasters

Takafumi Usui

This thesis aims to further investigate rare natural disasters and studies adaptation decisions under uncertainty by solving several computational economic models. The modeling of rare natural disasters depends on the treatment of catastrophic outcomes wit ...

EPFL2019

Financial Stability and the Macroeconomy : the Role of Bank Liquidity Regulation and Deposit Insurance

Corinne Dubois

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 ...

EPFL2018

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Rüdiger Fahlenbrach

From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperformed the common stock of banks with loan growth in the bottom quartile over the next three years. After the per ...

2018

Essays in Bank Financing

Yalda Sigrist

This thesis examines the optimal mode of financing for banks and financial institutions. The first chapter, which is a joint work with Prof. Jean-Charles Rochet, investigates how Systemically Important Financial Institutions (SIFIs) should be financed. The ...

EPFL2017

Preface: Special Section on Energy and Food Security in a Humanitarian Context

Silvia Hostettler

Natural disasters, population growth, social conflicts, and political or structural crises give rise to forced migrations, which can lead to humanitarian emergencies. According to the “UNHCR annual global trends report”, 65.6 million people were displaced ...

Elsevier2017

Essays in Financial Economics

Christoph Helmut Peter Herpfer

This thesis contains four chapters, each of which utilizes new or unusual data sources to analyze a different area of financial economics. In the first chapter, I construct a novel dataset linking individual bankers to large borrowers in the U.S. syndicate ...

EPFL2017

Expectations-driven cycles in the housing market

Luisa Lambertini

This paper explores the transmission of "news shocks" in a model of the housing market and shows that anticipated signals or beliefs of future macroeconomic developments can generate boom-bust cycles in the housing market and lead to business cycle fluctua ...

2017

Publications associées (24)

Development of a freely distributable CFD tool for approximate and detailed simulations of the flow around a complex of buildings

Elisa El Sergany

IOP PUBLISHING LTD2021

Three Essays in Banking and Finance

Damien Olivier Klossner

EPFL2019

Three Problems of Liquidity under Asymmetric Information

Sylvain Jean Pascal Carré

EPFL2019

Application of Association Rules to Determine Building Typological Classes for Seismic Damage Predictions at Regional Scale: The Case Study of Basel

Pierino Lestuzzi, Yves Sylvain Gilles Reuland, Lorenzo Diana

2019