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Une crise économique coûteuse et des interventions à risque

L'éclatement de la bulle immobilière américaine en 2007 a plongé
le monde dans une profonde crise économique et financière. Pour
éviter une dépression comme celle des années trente, les États, les
banques centrales et les organisations internationales ont misé sur
des interventions massives. Les mesures fiscales et monétaires qui ont été prises ont permis…

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Français / 01/07/2010

Kehrt der wirtschaftspolitische Interventionismus zurück?

Diese Präsentation diskutiert die Interventionen von Regierungen und Zentralbanken in Reaktion auf die Finanz-und Wirtschaftkrise von 2007-2009.

In der Handelspolitik ist eine markante Zunahme protektionistischer Tendenzen feststellbar, wobei insbesondere Produkte reifer Industrien und Finanzdienstleistungen betroffen sind. Gleichwohl ist es bislang nicht zu einer…

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Deutsch / 21/01/2010

Direkte Demokratie und Menschenrechte

There is a basic tension between the principle of democracy and the rule of law. This becomes obvious whenever the Swiss citizens accept an initiative that is incompatible with the European Convention on Human Rights. First, we discuss the traditions behind these two principles before we survey the empirical papers about the relation between direct democracy and minority rights in…

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Deutsch / 01/01/2010

Zu einigen Problemen der direkten Volksrechte

In this paper several problems of direct popular decisions are discussed. In the first part, we consider problems related to the functioning of direct democracy. It makes only sense as a political system if it is a continuous process and if not only sometimes single questions are brought to a referendum. Then, the relation between direct democracy and the unanimous rule…

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Deutsch / 01/01/2010

After the Crisis: Is There a Comeback of Economic Interventionism?

This presentation reviews the economic interventions by governments and central banks in response to the 2007-2009 financial and economic crisis.

In the area of trade policy, we find that protectionism has increased substantially, with governments targeting in particular the products of declining industries and financial services. Nevertheless, spiralling protectionism as in…

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English / 16/11/2009

Die Krise der Wirtschaft: Auch eine Krise der Wirtschaftswissenschaften?

Is the economic and financial crisis also a crisis of Economics? From different perspectives, today there is rather harsh criticism of Economics as a Social Science. In this article, first, some of the recent failures of Economics are discussed. Then some of the criticisms are taken up that are less convincing, in particular criticisms of the application of the economic model of…

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Deutsch / 01/11/2009

The Role of Monetary Aggregates in the Policy Analysis of the Swiss National Bank

Using Swiss data from 1983 to 2008, this paper investigates whether growth rates of the different measures of the quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand relations are specified, estimated and tested. Then, employing error correction models, measures of excess money are derived. Using recursive estimates…

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English / 01/11/2009

Financial and World Economic Crisis: What Did Economists Contribute?

In this paper we deal with two questions, (1) what are the origins of the current financial crisis, and (2) what did economists contribute, or why did economists fail to provide a convincing answer for the origins of the crisis, and possible solutions to overcome it? The economics profession apparently was unaware of the looming worldwide financial and economic crisis, and…

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English / 01/09/2009

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