The Swiss economy’s comparatively robust performance in the current economic crisis is partly the result of its characteristics, but public institutions also made Switzerland resilient. We focus here on institutions that foster sound public finances. The Swiss federal debt brake played a key role in keeping the federal debt in check; along with fiscal rules, institutions such as direct democr…
Abstract: Two questions remain widely open when it comes to global financial markets. First, what is the raison d’^etre of open global markets? Second, is it possible to foster open markets without an international governance structure supervising them? Post-crisis regulatory reform presents an acute paradox. While the content of international financial regulation is changing rapidly, the re…
Abstract: For some 60 years now, various measures have been introduced to bring Europeans together as citizens, based on the idea that increased cross-border encounters would create familiarity, generate a sense of community, facilitate economic activities and ultimately bring about a shared identity, however fragile at first. Town twinning and numerous exchange and mobility programmes of many…