Publications

December 21, 2021 | Documents

Building Benchmarks Portfolios with Decreasing Carbon Footprints

In this paper, the authors build portfolios with decreasing carbon footprint, which passive investors can use as new Paris-consistent (PC) benchmarks and have the same risk- adjusted returns as business as usual (BAU) benchmarks. As the distribution of firms’ carbon intensity is very skewed, excluding a small fraction of highly polluting firms can massively reduce […]

October 25, 2021 | Documents

Climate-Related Disasters and the Death Toll

With climate change accelerating, the frequency of climate disasters is expected to increase in the decades to come. There is ongoing debate as to how different climatic regions will be affected by such an acceleration. In this paper, we describe a model for predicting the frequency of climate disasters and the severity of the resulting […]

August 17, 2021 | Documents

Greening the Swiss National Bank’s portfolio

The integration of environmental preferences and the practice of sustainable and responsible investing are widely discussed topics among investment professionals, academics, and policy makers. Survey results confirm that more and more institutional investors commit to the integration of principles of responsible investment in their investment process. Central banks worldwide actively take part in the policy […]

May 25, 2020 | Documents

How to financially support Swiss SMEs?

We propose an attractive way of supporting PME’s that does not rely on recourse to debt

May 18, 2020 | Documents

How valuable is financial flexibility? Evidence from the COVID-19 crisis

The reported publication examines the value of financial flexibility for large, publicly listed companies in the US during the initial phase of the COVID-19 crisis.

April 15, 2020 | Documents

Lockdown release

Lifting the lockdown, yes …. But how? Outline of a strategy combining health and economic factors

March 26, 2020 | Documents

Wage Compensation & Corona Loans

Generous wage compensation & corona loans: Why and how the Swiss state should bear most of the economic cost of the corona lockdown