(Internal working papers DIUF ; 21-02)
The objective of this document is to provide a non-technical introduction to the field of Artificial Intelligence. It is intended for anyone outside of the data science community curi-ous about the subject, such as researchers from other areas looking for new instruments, legal professionals confronted with automated decision making algorithms or legal tech tools, en-trepreneurs interested in...
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(Working Papers SES ; 524)
This paper examines how investors perceive business group membership in Korea during the COVID-19 pandemic. Stock price performance analysis reveals evidence of a time-varying and heterogeneous value of affiliation: investors discount business group affiliation during a market collapse, but are willing to pay a premium for affiliation during market recovery. Overall, this pattern is more...
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(IR-Papers ; 3)
In the 19th century, the prohibition of religious weddings prior to state marriages had the objective of enforcing the right to marriage and preventing discriminatory practices, particularly those of the Catholic Church. While this is no longer pertinent, mandatory civil marriage has a new raison d'être in today's age of migration. The state thereby requires and ensures that marriages in...
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(Working Papers SES ; 523)
The housing wealth-to-income ratio has been increasing in most developed economies since the 1950s. We provide a novel theory to explain this long-term pattern. We show analytically that house prices grow in the steady state if i) the housing sector is more land-intensive than the non-housing sector, or ii) technological progress in the construction sector is weaker than in the non-housing...
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(Internal working papers DIUF ; 21-01)
This article is a literature review of Neuralink, brain-machine interfaces (BMIs) and their applications, followed by future possibilities of BMIs and their potential impacts. Currently, BMIs predominantly have therapeutic applications, such as helping people with spinal cord injury by allowing them to control a computer directly with their brain. However, BMIs can also improve learning,...
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City Pop is a loosely defined musical genre that first emerged in Japan in the late 1970s. Having undergone several recontextualizations and revivals in its country of origin, the genre has recently gained an international following among young Internet users. The most enthusiastic of City Pop’s new fans meet in social media groups and online forums; as of late 2020, a dozen fan communities...
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(Working Papers SES ; 522)
We conduct a field experiment with remote workers to assess potential adverse effects of monitoring. We find that monitoring reduces the average performance of workers, in particular among the intrinsically motivated workforce. Moreover, monitoring cultivates the average worker: There are fewer high performers and the variance in performance is significantly reduced. Importantly, we show that...
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(Working Papers SES ; 521)
Causal estimation of the short-term effects of tariff-rate quotas (TRQs) on vegetable producer prices is hampered by the large variety and different growing seasons of vegetables and is therefore rarely performed. We quantify the effects of Swiss seasonal TRQs on domestic producer prices of a variety of vegetables based on a difference-indifferences estimation using a novel dataset of weekly...
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(Working Papers SES ; 520)
This paper investigates the impact of the COVID-19 pandemic on the trading behavior of investors around ex-dividend dates in Europe. The sudden decrease in the number of companies paying dividends reduced the opportunities to capture dividends. The firms that have maintained dividend payments during the pandemic thus attracted more interest than before. This led to a doubling in the magnitude...
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(Working Papers SES ; 519)
We investigate the transnational transferability of statistical screening methods originally developed using Swiss data for detecting bid-rigging cartels in Japan. We find that combining screens for the distribution of bids in tenders with machine learning to classify collusive vs. competitive tenders entails a correct classification rate of 88% to 93% when training and testing the method...
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