Collections Fribourg

Collection fribourgeoise

La collection fribourgeoise rassemble plusieurs collections particulières qui sont décrites sous des rubriques spécifiques, comme les journaux fribourgeois ou les ouvrages de références fribourgeois. Elle contient également des versions numériques de documents possédés par la BCU Fribourg qui font partie du patrimoine fribourgeois.

La numérisation de ces documents suit son cours.

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Université de Fribourg

The Political Economy of Decentralisation in Sikkim : Strengthening Gram Panchayat Planning and Budgeting

Dafflon, Bernard

(Working Papers SES ; 424)

The objective of democratic decentralization is to enable institutions at the grassroots level to take decisions in matters related to the day to day life of the people. Transparency and accountability do not happen on their own: they have to be promoted and delivered by performing institutions. In Sikkim, the focus on empowering the Panchayats (local governments) was initiated in 2002-3 with the...

Université de Fribourg

Price stability and financial imbalances: rethinking the macrofinancial framework after the 2007-8 financial crisis

Panzera, Fabio S.

(Working Papers SES ; 423)

During the two decades preceding the 2007-8 financial crisis, both advanced and emerging market economies experienced larger credit growth and asset price fluctuations than in the more distant past. These phenomena were largely due to the establishment of credible inflation targeting regimes, whose excessive focus on medium-run price stability bred unsustainable credit and asset price dynamics,...

Université de Fribourg

Local Fiscal Equalization: a New Proposal and an Experiment

Dafflon, Bernard

(Working Papers SES ; 418)

This paper formalizes the new schemes of fiscal equalization that has been decided in 2009 and will be introduced at the local level in the canton of Fribourg (Switzerland) in 2011. It develops the political economy of the proposal with the aim of understanding the participative democratic process that led to the acceptance of a radical change in the canton's equalization policy, the normative...

Université de Fribourg

Local debt: from budget responsibility to fiscal discipline

Dafflon, Bernard

(Working Papers SES ; 417)

In the past thirty years, local governments in most European countries have been granted at least limited access to borrowing. The rules in force include limitations on the amount of borrowing and/or debt service, restrictions on the purpose of debt and on borrowing from foreign institutions and/or from the central bank. The description of these rules and sanctions constitute the thrust of...

Université de Fribourg

Does International Mobility of High-Skilled Workers Aggravate Between-Country Inequality ?

Grossmann, Volker ; Stadelmann, David

(Working Papers SES ; 416)

This paper analyzes the interaction of international migration of high-skilled labor and relative wage income between source and destination economies of expatriates. We develop an overlapping-generations model with increasing returns which suggests that international integration of the market for skilled labor aggravates between-country inequality by harming those which are source economies to...

Université de Fribourg

Wage Effects of High-skilled Migration: International Evidence

Grossmann, Volker ; Stadelmann, David

(Working Papers SES ; 415)

This paper argues that international migration of high-skilled workers triggers productivity effects at the macro level such that the wage rate of skilled workers may well rise in host countries and decline in source countries. We exploit a recent data set on international bilateral migration flows and provide evidence which is consistent with this hypothesis. In order to identify the causal...

Université de Fribourg

Quantifying Optimal Growth Policy

Grossmann, Volker ; Steger, Thomas M. ; Trimborn, Timo

(Working Papers SES ; 414)

The optimal mix of growth policies is determined within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and accounts for transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct approximately all oft heircapital and R&D costs from sales revenue. Our analysis suggests that this policy...

Université de Fribourg

Does High-Skilled Migration Affect Publicly Financed Investments ?

Grossmann, Volker ; Stadelmann, David

(Working Papers SES ; 413)

This paper analyzes the interaction between migration of high-skilled labor and publicly financed investment. We develop a theoretical model with multiple, ex ante identical jurisdictions where individuals decide on education and subsequent emigration. Migration decisions are based on differences in net income across jurisdictions which endogenously may occur. The interaction between income...

Université de Fribourg

Encyclical Letter "Caritas in Veritate": An Economist's Reading

Dembinski, Paul H.

(Working Papers SES ; 422)

On the 29 of June 2009, the Pope Benedict XVIth published Caritas in Veritate, his third encyclical letter. It was addressed to the clergy but also to “lay faithful and all people of good will”. In the two papers assembled here under one single title, the author enters in dialogue with the Papal encyclical from the perspective of an economist interested in ethical issues related specially to...

Université de Fribourg

Technical Analysis with a Long-Term Perspective: Trading Strategies and Market Timing Ability

Isakov, Dušan ; Marti, Didier

(Working Papers SES ; 421)

This paper extends the literature on the profitability of technical analysis in three directions. First, we investigate the performance of complex trading rules based on moving averages computed over longer periods than those usually considered. Different trading rules are simulated on daily prices of the Standard & Poor’s 500 index and we find that trading rules are more profitable when...

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