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Christoph Basten

Monetary Policy

Division

Monetary Analysis

Current Position

Senior Lead Economist

Fields of interest

Financial Economics,Macroeconomics and Monetary Economics

Email

Christoph.Basten@ecb.europa.eu

Education
2019

Financial Risk Manager (FRM)

2008-11

PhD, Economics, European University Institute (EUI), Florence, Italy

2010-11

Visiting Fellow, Harvard Kennedy School, Harvard, USA

2007-08

MRes, Economics, European University Institute (EUI), Florence, Italy

2006-07

MSc, Economics, Universitat Pompeu Fabra (UPF), Barcelona, Spain

2003-06

BA, Philosophy, Politics and Economics (PPE), Oxford University, Oxford, UK

Professional experience
2017-24

Assistant Professor of Banking, University of Zurich, Switzerland

2021

Visiting Fellow, NYU Stern School of Business, New York City, USA

2013-17

Head of Risk Monitor, Swiss Financial Market Supervisory Authority FINMA, Berne, Switzerland

2011-13

Postdoctoral Researcher, KOF Swiss Economic Institute, Zurich, Switzerland

Awards
2014

Peggy and Richard Musgrave Prize, International Institute of Public Finance

Teaching experience
2020-24

PhD, Banking and Contract Economics, University of Zurich

2018-23

Executive Education, Corporate Banking and Regulation, University of Zurich

2018-23

BA, Banking, University of Zurich

2019

MA, Financial Regulation, University of Zurich

28 October 2011
WORKING PAPER SERIES - No. 1393
Details
Abstract
We investigate the effect of Reformed Protestantism, relative to Catholicism, on preferences for leisure and for redistribution and intervention in the economy. With a Fuzzy Spatial Regression Discontinuity Design, we exploit a historical quasiexperiment in Western Switzerland, where in the 16th century a so far homogeneous region was split and one part assigned to convert to Protestantism. We find that Reformed Protestantism reduces the fraction of citizens voting for more leisure by 13, and that voting for more redistribution and government intervention by respectively 3 and 11 percentage points. These preferences are found to translate into greater income inequality, but we find no robust effect on average income.
JEL Code
Z12 : Other Special Topics→Cultural Economics, Economic Sociology, Economic Anthropology→Religion
D72 : Microeconomics→Analysis of Collective Decision-Making→Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
H23 : Public Economics→Taxation, Subsidies, and Revenue→Externalities, Redistributive Effects, Environmental Taxes and Subsidies
N33 : Economic History→Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy→Europe: Pre-1913
2024
Swiss Finance Institute Research Paper No. 24-38
  • Basten, C. and Kartasheva, A.
2024
Journal of Banking and Finance
  • Basten, C. and Ongena, S.
2024
Swiss Finance Institute Research Paper No. 24-36
  • Basten, C. and Juelsrud, R.
2023
Journal of Financial Stability
  • Basten, C. and Mariathasan, M.
2023
Review of Financial Studies
  • Basten, C. and Juelsrud, R.
2023
Swiss Finance Institute Research Paper No. 23-15
  • Basten, C., Kukk, M. and J. Toczynski
2020
Review of Finance
  • Basten, C.
2019
Scandinavian Journal of Economics
  • Basten, C. and Siegenthaler, M.
2017
The Economic Journal
  • Basten, C., Ehrlich, M. and Lassmann, A.
2016
Journal of Money, Credit and Banking
  • Basten, C., Fagereng, A. and Telle, K.
2015
Journal of Housing Economics
  • Basten, C. and Koch, C.
2014
The Economic Journal
  • Basten, C., Fagereng, A. and Telle, K.
2013
American Economic Journal: Applied Economics
  • Basten, C. and Betz, F.