Erwin Dekker: The Viennese Students of Civilization – The Context and Meaning of Austrian Economics Reconsidered

This book argues that the work of the Austrian economists, including Carl Menger, Joseph Schumpeter, Ludwig von Mises and Friedrich Hayek, has been too narrowly interpreted. Through a study of Viennese politics and culture, it demonstrates that the project they were engaged in was much broader: the study and defense Continue Reading…

Thushyanthan Baskaran/ Lars P. Feld/ Sarah Necker: Depressing dependence? Transfers and economic growth in the German states, 1975–2005

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 Continue Reading…

Lars P. Feld/ Alexander Kalb/ Marc-Daniel Moessinger/ Steffen Osterloh: Sovereign bond market reactions to no-bailout clauses and fiscal rules – The Swiss experience

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 Continue Reading…

Andrea Franc: Agricultural Protectionism on the Neoliberal Agenda? The Approach of the Director of the Swiss Business Federation to Agriculture

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 Continue Reading…