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        <rdf:li rdf:resource="https://hdl.handle.net/10419/290129" />
        <rdf:li rdf:resource="https://hdl.handle.net/10419/290119" />
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    <dc:date>2026-04-28T11:39:21Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/290129">
    <title>A case of unilateral trade liberalization: The autonomous abolition of industrial tariffs by Switzerland in 2024</title>
    <link>https://hdl.handle.net/10419/290129</link>
    <description>Title: A case of unilateral trade liberalization: The autonomous abolition of industrial tariffs by Switzerland in 2024
Authors: Zimmermann, Thomas A.
Abstract: On 1 January 2024, Switzerland will implement a major trade policy reform by autonomously eliminating all tariffs on imports of industrial products regardless of their origin. After a brief review of the literature on unilateral trade liberalization and the current Swiss tariff landscape, this paper presents the motivation and the substance of the reform. The elimination of industrial tariffs will reduce the net fiscal burden on imports by around CHF 600 million per year. In addition, imports will be easier to administer, as the Swiss customs tariff will be simplified (thanks to a reduction in tariff numbers) and proofs of origin will no longer be required for goods that remain in Switzerland. We summarize the main findings of studies carried out in the run-up to the reform. The political process and debates leading up to parliamentary approval of the reform, its reception in international fora and the ongoing work on implementation are presented as well. I conclude that the difficult process of obtaining parliamentary approval confirms the insights from the political economy literature that unilateral trade liberalization is politically difficult to achieve in a purely domestic context, despite the economic benefits it brings. From an economic perspective, the contribution of unilateral liberalization to domestic market opening is substantial and has certain advantages, also in comparison to other trade policy instruments such as free trade agreements (FTAs). Unilateral liberalization and preferential liberalization through FTAs need not be mutually exclusive but can be seen as complementary trade policy tools.</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/290119">
    <title>How fares the "commanding heights" of the Swiss economy? Evidence from the Crux of Capitalism project</title>
    <link>https://hdl.handle.net/10419/290119</link>
    <description>Title: How fares the "commanding heights" of the Swiss economy? Evidence from the Crux of Capitalism project
Authors: Abboud, Magaly; Bernasconi, Fabio; Czégé, Sára; Erencin, Camilla; Evenett, Simon J.; Reitz, Felix
Abstract: The track record of Swiss publicly listed companies in creating economic value is assessed, along with their propensity to experience corporate distress. This assessment is conducted both in absolute terms and relative to foreign peers for the years 2005 to 2022. Established measures of corporate distress are augmented by a specially constructed economic profits measure assembled from quarterly financial reports. While on average Swiss firms perform better in economic profit terms than rivals from neighboring countries, there are doubts as to whether Swiss firms can generate higher levels of economic profit in the future, especially as the cost of capital is rising.</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/290121">
    <title>Zombiefirmen: Ein Schatten über der Wirtschaft</title>
    <link>https://hdl.handle.net/10419/290121</link>
    <description>Title: Zombiefirmen: Ein Schatten über der Wirtschaft
Authors: Schaltegger, Christoph A.; Zell, Laura
Abstract: Zombieunternehmen werden mittlerweile sowohl in den Medien als auch in der Wissenschaft breit diskutiert. Da sich die meisten Studien vorrangig international mit dem Phänomen auseinandersetzen, fehlt es an detaillierten Analysen für die Schweiz. Das vorliegende Kurzpapier beleuchtet daher gezielt Schweizer Zombieunternehmen anhand von Daten börsennotierter Unternehmen des Crux of Capitalism-Projekts. Entsprechend den internationalen Trends können wir eine zunehmende Zahl von Zombieunternehmen auch in der Schweiz bestätigen und 26 solcher Unternehmen für das Jahr 2022 (13,8% unserer Stichprobe) identifizieren. Die Analyse, wenn auch aufgrund der Stichprobengrösse und Fokussierung auf börsennotierte Unternehmen nur indikativ, sensibilisiert für die Problematik und soll zu weiterer Forschung anregen. Auch steigende Zinssätze und weitere wirtschaftliche Herausforderungen für Unternehmen in der Schweiz unterstreichen die Relevanz der Untersuchung von Zombieunternehmen und deren potenziellen Auswirkungen.</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/290127">
    <title>Recovery and exit of zombie firms in Portugal: A remake</title>
    <link>https://hdl.handle.net/10419/290127</link>
    <description>Title: Recovery and exit of zombie firms in Portugal: A remake
Authors: Carreira, Carlos; Teixeira, Paulino; Nieto-Carrillo, Ernesto
Abstract: Encouraged by the forbearance of creditors and exit barriers (e.g., inefficient insolvency regimes), the zombie phenomenon has weakened business dynamism and, as a consequence, has slowed economic growth in most economies in recent decades. In this paper, we examine the recovery and exit of zombie firms, as well as the determinants of these transitions. Based on a panel of Portuguese firms' population covering the period 2004-2020, we find a widespread prevalence of zombie firms, which are relatively less productive than non-zombies. Moreover, industries with a higher share of zombies have lower productivity levels. Finally, we find that the probability of transition into recovery and exit is relatively small. However, operational and technological restructuring, as well as financial restructuring, are shown to be key drivers of zombie firms' recovery. The insolvency environment is also found to be a strong factor in stimulating business restructuring.</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
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