This paper connects two branches of economics in a study of the price formation of industrial commodities. The first branch is the theory of irreversible investment under uncertainty, the second the theory of competitive speculation in stocks. A model which combines these two elements is...

In weekly intervals, the Swiss stock research firm Obermatt publishes the top 10 stocks in a stock index based on four different investment strategies. This report describes the results of a back testing of this method. It uses prior year year-end financials to identify top 10 stock tips for a...

This article reviews the impact of intellectual property (IP) protection on foreign direct investment (FDI) by multinational enterprises (MNEs) in developing countries. Applying different panel data techniques to a newly-created comprehensive FDI/IP dataset of 31 Swiss MNEs investing into 53...

This paper describes an equilibrium life-cycle model of housing where non-convex adjustment costs lead households to adjust their housing choice infrequently and by large amounts when they do so. In the cross-sectional dimension, the model matches the wealth distribution; the age profiles of...

In this paper, we present estimates of inventory models based on firm level panel data and investigate whether an over-simplified specification of the production technology may account for the failure to find technological incentives to smooth production in the context of the standard...

In this paper, we analyze the determinants of corporate saving in the form of changes in the stock of cash for 11 Asian economies using firm-level data from the Oriana Database for the 2002–2011 period. We find some evidence that cash flow has a positive impact on the change in the stock of...

In this paper, we analyze the determinants of corporate saving in the form of changes in the stock of cash for 11 Asian economies using firm-level data from the Oriana Database for the 2002-2011 period. We find some evidence that cash flow has a positive impact on the change in the stock of...

We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age profiles of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and...

This paper describes an equilibrium life-cycle model of housing where nonconvex adjustment costs lead households to adjust their housing choice infrequently and by large amounts when they do so. In the cross-sectional dimension, the model matches the wealth distribution; the age profiles of...

In this paper, we analyze the determinants of corporate saving in the form of changes in the stock of cash for 11 Asian economies using firm-level data from the Oriana Database for the 2002–2011 period. We find some evidence that cash flow has a positive impact on the change in the stock of...