Am von in der Kategorie Paper, Publication.

Joseph A. Schumpeter’s theory of economic development analyzes how growth and cycle dynamics intertwine. The process of creative destruction plays an essential role in those dynamics: embodying a cleansing effect, it has a clear, beneficial impact on long-run development. For that reason, and also for some of his famous (and provocative) non-interventionist statements, Schumpeter is… Read more »

Am von in der Kategorie Paper, Publication.

Schumpeter has often been interpreted, especially, but not only, by modern economists (such as De Long 1990; Caballero 2008) as a ”liquidationist.” The term does not have a precise definition, but liquidationists are usually considered in the literature as convinced that economic crises are necessary and unavoidable and thus that government noninterventionism in such crises… Read more »

Am von in der Kategorie Monography, Publication.

Franc assesses Wilhelm Röpke’s impact on Swiss domestic policy. Röpke spent the greater part of his academic life (1937–1966) in Switzerland and used the example of Switzerland as a blueprint for his social philosophy. He conveyed a utopian image of Switzerland and used Switzerland as a stylized model for the ideal neoliberal nation. In foreign… Read more »

Am von in der Kategorie Paper, Publication.

When thinking about today’s phenomenon of ‘fair trade’, it immediately brings to mind coffee with the ‘fair trade’ tag, nowadays seemingly found in just about every supermarket. But if we go back to fair trade’s origins in 1968, these same coffee smallholders were nowhere to be found in the burgeoning movement’s founding document, the Haslemere… Read more »

Am von in der Kategorie Paper, Publication.

Neoliberals are known to oppose agricultural protectionism. In Switzerland, however, a member of the neoliberal Mont Pelerin Society was responsible for pushing forward the highly protectionist agricultural policy of the postwar years. Drawing on newly available archival sources, this article illustrates the endeavours of the director of the Swiss Business Federation Gerhard Winterberger (1922–93) in… Read more »

Am von in der Kategorie Paper, Publication.

We analyze the sustainability of public finances in the 16 states (Länder) of the Federal Republic of Germany, using an unprecedentedly comprehensive fiscal data set covering the period from 1950 to 2011 for West German Länder and from 1991 to 2011 for East German Länder. We extend the existing literature in that we apply unit-root… Read more »

Am von in der Kategorie Paper, Publication.

We analyse the effects of a credible no-bailout policy and stringent sub-national fiscal rules on the risk premia of Swiss sub-national government bonds in the period from 1981 to 2007. In July 2003, the Swiss Supreme Court decided that the canton of Valais is not liable for municipal debt. This landmark decision reduced cantonal risk… Read more »

Am von in der Kategorie Paper, Publication.

Most countries pay substantial intergovernmental transfers to poor regions with the aim of achieving regional convergence. Consequently, transfers should have a positive effect on economic growth. However, it is equally possible that transfers perpetuate underdevelopment. This paper studies empirically the effect of intergovernmental transfers on economic growth with a panel of West German states over… Read more »