On the Inadequacy of Newswire Reports for Empirical Research on Foreign Exchange Interventions [PDF]
Newswire reports have become an accepted tool for empirical studies analyzing informational asymmetries in FX markets. This paper tests the accuracy of such reports for Swiss interventions in the foreign exchange market.
Andreas M. Fischer
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Iconismo e immagini digitali: una sfida alla semiotica visiva?
Testo & Senso, 2016 L’articolo torna ad affrontare la questione dell’iconismo alla luce delle trasformazioni dell’immagine introdotte dal digitale. L’immagine digitale infatti rappresenta una potenziale messa in crisi del rapporto di riferimento con un Oggetto che nei casi ...
Riccardo Finocchi, Antonio Perri
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Limits to arbitrage during the crisis: funding liquidity constraints and covered interest parity [PDF]
Arbitrage normally ensures that covered interest parity (CIP) holds. Until recently, excess profits, if any, were documented to last merely seconds and reach a few pips.
Angelo Ranaldo, Tommaso Mancini Griffoli
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No Reference Without Referents
Revista de Filosofía (Madrid), 2016 Sainsbury 2005 and 2009 offers a theory of empty names that purports to account for the content and truth-value of all utterances involving them. The goal is to do this while offering a homogenous semantic treatment: both empty and nonempty names make the same kind of contribution to truth-values.
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Time-Varying Pass-Through from Import Prices to Consumer Prices: Evidence from an Event Study with Real-Time Data [PDF]
This paper analyzes the pass-through from import prices to CPI inflation in real time. Our strategy follows an event-study approach, which compares inflation forecasts before and after import price releases.
Andreas M. Fischer, Marlene Amstad
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Are Imports from Rich Nations Deskilling Emerging Economies? - Human Capital and the Dynamic Effects of Trade [PDF]
This paper starts by documenting that during the last decades, the human capital embodied in imports from skill abundant nations has noticeably reduced skill accumulation in the less developed world.
Raphael Anton Auer
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Reference, Real Referants and Discourse Referents
̒Ilm-i Zabān, 2014 The direct reference theory encounters problems in face of some semantic issues, including reference to non-existents and the substitutivity of co-referent proper names in propositional attitude sentences. That is because the only thing which constitutes the meaning of an expression in this theory is the referent associated with that expression.
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Are Weekly Inflation Forecasts Informative? [PDF]
Are weekly inflation forecasts informative? Although several central banks review and discuss monetary policy issues on a bi-weekly basis, there have been few attempts by analysts to construct systematic estimates of core inflation that supports such a ...
Andreas M. Fischer, Marlene Amstad
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Can bank supervisors rely on market data? A critical assessment from a Swiss perspective [PDF]
Market data, such as bond spreads or equity price volatility, are a complementary source to bank supervisory information. In Switzerland, meaningful market data are available for a number of banks which constitute a major part of the banking system ...
Matteo Facchinetti, Urs W. Birchler
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Foreign currency returns and systematic risks [PDF]
The decomposition of the market return into its cash-flow and discount-rate news driven components reveals that excess returns on low forward discount currency portfolios load positively on "good" news about the stock market's discount rates while high ...
Thomas Nitschka, Victoria Galsband
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