The Swiss CO2 law runs out in 2012, together with the first commitment period of the Kyoto Protocol. Currently, the Swiss parliament is deciding on the successor of the law that aims to achieve a 20% reduction of CO2 emissions below 1990 levels by 2020. As a means to achieve this ambitious...

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Domestic strategies for the Swiss energy system are likely to be affected by a range of uncertain global challenges, such as natural resource availability and depletion, international climate change policies, and global technology policies. We analyze technological choices for Switzerland under...

For the case of Switzerland, this paper endeavours to estimate the empirical extend with which exchange rates are "passed-through" onto import prices. For data covering the 1999 to 2010 period, the results suggest that (i) on aggregate, the exchange rate pass-through is highly incomplete with an...

Several empirical studies have suggested that the Bundesbank has pursued inflation targets rather than monetary targets. We find that, in the period from 1979 III to 1998 IV, changes in adjusted monetary base growth reacted negatively and significantly to deviations from target monetary...

This paper uses Swiss data and two novel instrumental variables to test the channels through which migrants promote trade. Using immigration in France and visa restrictions as instruments for immigrantion in Switzerland, I identify a protrade effect that takes place entirely on the extensive...

In this paper we analyse household holdings of the monetary aggregate M3 in the euro area from 1991 until 2009. We develop a nominal model with satisfactory economic and statistical properties. The main determinants are a transactions variable, wealth considerations, opportunity costs and...

This paper estimates the response of consumer prices to a monetary policy shock in Switzerland. We find that there is no evidence of a price puzzle at the aggregate level. This is because our factor-augmented vector autoregression (FAVAR) avoids misspecification by including more information...

The Swiss fiscal rule or "debt brake" is applied to simulated data of economic output and fiscal revenues. The budget remains almost perfectly balanced and the debt ratio stable over the medium and long term: The cyclical adjustment of the debt brake is effective in terms of its primary...

This paper analyzes the contribution of youth's different time allocations to positive behaviours in exchanges. Psychologists highlight that time spent within voluntary organizations fosters positive development. The paper aims at deepening the knowledge of the psychological bases of the...