Tag Archives: Notes

The Swiss Federal Council requests that Parliament recommend to the people and the cantons rejection of the popular initiative “For crisis-resistant money: end fractional-reserve banking (Vollgeld initiative)”, without a counterproposal. The Federal Council doubts that ending fractional-reserve banking would strengthen financial stability. It sees major risks for the Swiss National Bank’s credibility and for financial intermediation.

In the NZZ, Thomas Fuster and Jürg Müller interview David Autor. Autor on polarization: Der Arbeitsmarkt wird immer polarisierter. Auf der einen Seite haben wir viele gutbezahlte, hochqualifizierte und interessante Stellen. Auf der anderen Seite stehen schlechter entlöhnte und niedrigqualifizierte Stellen, bei denen es quasi darum geht, dem Wohl und Komfort der Wohlhabenden zu dienen. Das ist keine gesunde Entwicklung. Sie schlägt Stufen aus der Leiter des wirtschaftlichen Aufstiegs. Das...

Between November 8 and 9, medium and long-term US Treasury Yield Curve rates increased substantially: Date1 Mo3 Mo6 Mo1 Yr2 Yr3 Yr5 Yr7 Yr10 Yr20 Yr30 Yr 11/01/160.240.350.500.650.830.991.301.611.832.242.58 11/02/160.240.370.510.640.810.981.261.571.812.222.56 11/03/160.240.380.520.640.810.981.261.581.822.252.60 11/04/160.250.380.520.620.800.951.241.551.792.222.56 11/07/160.280.410.540.630.820.991.291.601.832.262.60 11/08/160.280.430.560.710.871.041.341.651.882.292.63...

From the New York Times:

More and more researchers adopt the programming language Julia.

India follows suggestions to fight tax evasion by taking high denomination notes out of circulation … and introducing new ones. Until the end of the year, Indians may exchange the old banknotes against new ones, at banks or post offices, by identifying themselves. On his blog, J P Koning discusses earlier demonetization episodes in Iraq and Sweden. India’s move does not exactly follow the well publicized suggestions currently debated. But it might work.

Food for All matches restaurants that miscalculated demand with hungry consumers.

On his blog, J P Koning discusses Kenneth Rogoff’s proposal to abolish high denomination notes (discussed earlier). Koning concludes: I agree with Rogoff’s general point that it makes sense to burden cash users with ever more work since this burden disproportionately falls on heavy users like criminals. But Rogoff hasn’t yet convinced me that the status quo policy of gradually increasing the workload involved in cash usage (via inflation) needs to be sped up by a sudden removal of every...

In the NZZ, Ulrich von Schwerin reports about the Zoroastrian heritage in Iran. More on Zoroastrianism.

The NZZ compares salaries of central bank governors. Switzerland comes first.