Farmers in Switzerland receive about CHF 2.7 billion in direct financial support annually. Total financial support by the federal and cantonal governments equals more than CHF 4 billion. But according to a report published by Zurich based think tank Avenir Suisse, this financial support constitutes just a minor part of the transfers from society at large to farmers, due to explicit and implicit subsidies, privileges, and—most importantly—negative externalities. A list of privileges...
Read More »Negative Value Added of Switzerland’s Agricultural Sector
Farmers in Switzerland receive about CHF 2.7 billion in direct financial support annually. Total financial support by the federal and cantonal governments equals more than CHF 4 billion. But according to a report published by Zurich based think tank Avenir Suisse, this financial support constitutes just a minor part of the transfers from society at large to farmers, due to explicit and implicit subsidies, privileges, and—most importantly—negative externalities. A list of privileges...
Read More »“Macroeconomics II,” Bern, Fall 2018
MA course at the University of Bern. Time: Wed 10-12. KSL course site. Course assistant: Lukas Voellmy. The course introduces Master students to modern macroeconomic theory. Building on the analysis of the consumption-saving trade off and on concepts from general equilibrium theory, the course covers workhorse general equilibrium models of modern macroeconomics, including the representative agent framework, the overlapping generations model, and possibly the Lucas tree model. Lectures...
Read More »“Macroeconomics II,” Bern, Fall 2018
MA course at the University of Bern. Time: Wed 10-12. KSL course site. Course assistant: Lukas Voellmy. The course introduces Master students to modern macroeconomic theory. Building on the analysis of the consumption-saving trade off and on concepts from general equilibrium theory, the course covers workhorse general equilibrium models of modern macroeconomics, including the representative agent framework, the overlapping generations model, and possibly the Lucas tree model. Lectures...
Read More »“Kosten und Nutzen eines Vollgeldsystems (Costs and Benefits of `Sovereign Money’),” ifoSD, 2018
ifo Schnelldienst 16/2018, August 23, 2018. PDF.
Read More »“Kosten und Nutzen eines Vollgeldsystems (Costs and Benefits of `Sovereign Money’),” ifoSD, 2018
ifo Schnelldienst 16/2018, August 23, 2018. PDF.
Read More »“Central Bank Digital Currency: Why It Matters and Why Not,” VoxEU, 2018
VoxEU, August 20, 2018. HTML. To a first approximation, inside and outside money are substitutes—the introduction of CBDC does not change the equilibrium allocation. Bank incentives and central bank incentives might be affected though. CBDC could increase the incentive to extend credit but might undermine the political support for implicit financial assistance to banks.
Read More »“Central Bank Digital Currency: Why It Matters and Why Not,” VoxEU, 2018
VoxEU, August 20, 2018. HTML. To a first approximation, inside and outside money are substitutes—the introduction of CBDC does not change the equilibrium allocation. Bank incentives and central bank incentives might be affected though. CBDC could increase the incentive to extend credit but might undermine the political support for implicit financial assistance to banks.
Read More »Nine Years of Greek Debt Crisis
In the NZZ, René Höltschi reviews the Greek debt crisis since October 2009.
Read More »Nine Years of Greek Debt Crisis
In the NZZ, René Höltschi reviews the Greek debt crisis since October 2009.
Read More »