International Macroeconomics

  • Universal Basic Income – Utopia or Realism?

    Free money for everyone. A proposal, which sounds like a utopia has existed for centuries and has even been promoted by the founders of the ne- oliberal thought, Milton Friedman and Friedrich Hayek. It’s the talk of an universal basic income, a fixed amount, transferred every month by the state to the citizens, independent of…

    Universal Basic Income – Utopia or Realism?
  • Ergodicity Economics – Valid Criticism of Traditional Economic Theory or an Imprudent Diatribe?

    Ergodicity Economics is a recent field that allegedly contests traditional economic theory. This piece introduces the claims of ergodicity economics and discusses whether and to which extent they are justified.

    Ergodicity Economics – Valid Criticism of Traditional Economic Theory or an Imprudent Diatribe?
  • Monopoly Power? The Federal Trade Commission Wants to Break Up Facebook

    As of 2020, Facebook and its subsidiaries account for an estimated 70% share of the social media market, with roughly 5 billion active monthly users and almost one hundred billion U.S. dollars in ad revenues. While this undeniably powerful position has attracted criticism from politicians and economists for years, the United States’ federal authorities did…

    Monopoly Power? The Federal Trade Commission Wants to Break Up Facebook
  • Average Inflation Targeting

    After years of unsuccessful inflation target policy, the Fed announced a drastic change to its policy on the 27th August 2020: The average inflation target- ing. In contrast to inflation targeting, this policy measure allows inflation to run higher than the 2% target, having further effects on future expectations and unemployment levels. In the New…

    Average Inflation Targeting
  • Interview with Jean-Pierre Roth

    Jean-Pierre Roth was Chairman of the Swiss National Bank’s Governing Board from 2001 to 2009, during which time he also served as the Swiss Governor of the International Monetary Fund. From 2006 to 2009, he was also Chairman of the Board of Directors of the Bank of International Settlements in Basel. Jean-Pierre Roth was elected…

    Interview with Jean-Pierre Roth
  • Curbing the Patent Application Overflow in the US – A Basic Policy Proposal

    The United States Patent and Trademark Office is facing an overflow of applications. Scholars in the field of innovation have already put forth a plethora of suggestions to improve a patent system that they perceive to be broken. Building on an idea by Risch (2010) and drawing from the literature on cognitive bias, this proposal…

    Curbing the Patent Application Overflow in the US – A Basic Policy Proposal