Thèse de doctorat : Università della Svizzera italiana, 2021 ; 2021ECO007.
I use empirical methods to forecast U.S. repeat-sales house price indices, to analyze Swiss long-run default rates and to investigate the role of country and industry effects on the downside risk of stock index returns.
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In: European Economic Review, 2013, vol. 61, p. 153-168
With a market entry game inspired by Camerer and Lovallo (1999), we study the attitudes of junior and senior employees towards strategic uncertainty and competition. Seniors exhibit higher entry rates compared to juniors, especially when the market capacity is not too low or when earnings from entry depend on relative performance. This difference persists after controlling for attitudes...
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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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In: Journal of the European Economic Association, 2018, vol. 16, no. 2, p. 316-352
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In: Financial Markets and Portfolio Management, 2015, vol. 29, no. 4, p. 337-363
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In: Social Cognitive and Affective Neuroscience, 2017, vol. 12, no. 12, p. 1959-1971
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In: Social Cognitive and Affective Neuroscience, 2017, vol. 12, no. 12, p. 1993-1993
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In: Marketing Letters, 2015, vol. 26, no. 3, p. 309-320
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Thèse de doctorat : Università della Svizzera italiana, 2021 ; 2021ECO004.
My dissertation consists of three chapters, each of which focuses on how institutional investors trade, impact price efficiency in secondary financial markets and influence the allocation of resources in the real economy. Using a novel approach based on hurricanes, the first chapter, Mutual Funds’ Fire Sales and the Real Economy: Evidence from Hurricanes, contributes to the recent debate on...
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In: Review of Keynesian Economics, 2019, vol. 7, no. 2, p. 220-232
This paper argues that the negative interest rate adopted by the Swiss National Bank in 2015 has elicited a series of negative consequences across the Swiss economy. It has led an increasing number of agents to invest their savings in the real-estate market, whose prices have overheated, threatening the eruption of a housing crisis. It has also induced a number of financial institutions to turn...
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