International trade and finance under the influence of oil-1974 and early 1975

International trade ; International finance ; Petroleum industry and trade

Foreign trade and exchange rate movements in 1975

International trade ; Foreign exchange rates

Recent and prospective developments in international trade and finance

International trade ; International finance

Swiss Exchange Rate Policy in the 1930s. Was the Delay in Devaluation Too High a Price to Pay for Conservatism?

In this paper we examine the experience of Switzerland’s devaluation in 1936. The Swiss case is of interest because Switzerland was a key member of the gold bloc, and much of the modern academic literature on the Great Depression tries to explain why Switzerland and the other gold bloc countries, France, and the Netherlands, remained on the gold standard until the bitter end. We ask the following questions: what were the issues at stake in the political debate? What was the cost to Switzerland of the delay in the franc devaluation? What would have been the costs and benefits of an earlier exchange rate policy? More specifically, what would have happened if Switzerland had either joined the British and devalued in September 1931, or followed the United States in April 1933? To answer these questions we construct a simple open economy macro model of the interwar Swiss economy. On the basis of this model we then posit counterfactual scenarios of alternative exchange rate pegs in 1931 and 1933. Our simulations clearly show a significant and large increase in real economic activity. If Switzerland had devalued with Britain in 1931, the output level in 1935 would have been some 18 per cent higher than it actually was in that year. If Switzerland had waited until 1933 to devalue, the improvement would have been about 15 per cent higher. The reasons Switzerland did not devalue earlier reflected in part a conservatism in policy making as a result of the difficulty of making exchange rate policy in a democratic setting and in part the consequence of a political economy which favored the fractionalization of different interest groups.

A primer on inflation: its conception, its costs, its consequences

Inflation (Finance)

Oil price controls: a counterproductive effort

Petroleum industry and trade

Germanophobia in Switzerland

This paper considers two common assumptions that often arise in the empirical literature on xenophobia—namely that xenophobic attitudes are found mostly among the poorly educated, and that xenophbia mainly concerns immigrants from low social classes and from geographically and culturally disparate nations. These arguments will be discussed in the context of the migration of high-skilled Germans to Switzerland, a phenomenon that has increased markedly in the last few years, leading to major controversies. A survey conducted in the city of Zurich has shown that Germans are considered less likable than other Western Europeans. Over the course of my analyses, two arguments are tested. First, I consider whether the boundaries between culturally similar groups are actually less fragile than those occurring between more dissimilar groups. Following this line of reasoning, we consider whether Swiss-Germans’ popularly evoked “inferiority complex” towards Germans might lead Swiss-Germans to perceive German immigration as a cultural threat. Second, I consider whether well-educated people in high positions may feel threatened by new arrivals who are similarly welleducated. This rationale corresponds to the classic argument that working class people are xenophobic out of a fear that immigrants will take their jobs. Ultimately, this study finds empirical support for both arguments.Das Paper hinterfragt zwei in der Forschungsliteratur zu Fremdenfeindlichkeit gängige Annahmen und Befunde, die besagen, dass fremdenfeindliche Einstellungen vor allem unter gering gebildeten Angehörigen der Mehrheitsgesellschaft zu finden seien und sich in der Regel gegen Migranten aus unteren sozialen Schichten und aus geographisch wie kulturell fernen Ländern richten würden. Überprüft werden diese Annahmen im Kontext der deutschen Einwan-derung in die Schweiz, die in den letzten Jahren stark angestiegen ist und spür-bare Kontroversen ausgelöst hat. Eine in der Stadt Zürich durchgeführte Umfrage hat ergeben, dass Deutsche im Vergleich zu anderen Westeuropäern als weniger sympathisch angesehen werden. Zwei Argumentationen werden untersucht: Zum einen wird die Hypothese überprüft, dass Grenzen zwischen Gruppen, die sich kulturell sehr nahe stehen, nicht notwendigerweise leichter zu überwinden sein müssen. Der mitunter angeführte Minderwertigkeitskomplex der Deutsch- Schweizer gegenüber Deutschen könnte dazu führen, dass die deutsche Einwanderung als kulturelle Bedrohung empfunden wird. Zum anderen ist es auch möglich, dass sich Bessergebildete in höheren beruflichen Positionen durch vergleichbar gut gebildete Zuwanderer durchaus bedroht fühlen. Diese Hypothese entspricht dem klassischen Argument, dass Angehörige der Arbeiterklasse deswegen fremdenfeindlich sind, weil sie befürchten, ihre Jobs an Immigranten zu verlieren. Beide Hypothesen werden in dieser Studie empirisch belegt

Practising citizenship and heterogeneous nationhood: naturalisations in Swiss municipalities

Switzerland likely has the most particular naturalization system in the world. Whereas in most countries citizenship attribution is regulated at the central level of the state, in Switzerland each municipality is accorded the right to decide who can become a Swiss citizen. This book aims at exploring naturalization processes from a comparative perspective and to explain why some municipalities pursue more restrictive citizenship policies than others. The Swiss case provides a unique opportunity to approach citizenship politics from new perspectives. It allows us to go beyond formal citizenship models and to account for the practice of citizenship. The analytical framework combines quantitative and qualitative data and helps us understand how negotiation processes between political actors lead to a large variety of local citizenship models. An innovative theoretical framework, integrating Bourdieu's political sociology, combines symbolic and material aspects of naturalizations and underlines the production processes of ethnicity.Zwitserland heeft waarschijnlijk het meest uitzonderlijke naturalisatiesysteem ter wereld: staatsburgerschap wordt toegewezen op gemeentelijk niveau en niet vanuit de centrale overheid. Dit boek bestudeert naturalisatieprocessen vanuit een vergelijkend perspectief en probeert te verklaren waarom sommige gemeenten strengere regels hanteren dan anderen. Het Zwitserse voorbeeld geeft een unieke mogelijkheid om voorbij de formele staatsburgerschapmodellen te kijken

Practising Citizenship and Heterogeneous Nationhood

Switzerland likely has the most particular naturalization system in the world. Whereas in most countries citizenship attribution is regulated at the central level of the state, in Switzerland each municipality is accorded the right to decide who can become a Swiss citizen. This book aims at exploring naturalization processes from a comparative perspective and to explain why some municipalities pursue more restrictive citizenship policies than others. The Swiss case provides a unique opportunity to approach citizenship politics from new perspectives. It allows us to go beyond formal citizenship models and to account for the practice of citizenship. The analytical framework combines quantitative and qualitative data and helps us understand how negotiation processes between political actors lead to a large variety of local citizenship models. An innovative theoretical framework, integrating Bourdieu's political sociology, combines symbolic and material aspects of naturalizations and underlines the production processes of ethnicity.Zwitserland heeft waarschijnlijk het meest uitzonderlijke naturalisatiesysteem ter wereld: staatsburgerschap wordt toegewezen op gemeentelijk niveau en niet vanuit de centrale overheid. Dit boek bestudeert naturalisatieprocessen vanuit een vergelijkend perspectief en probeert te verklaren waarom sommige gemeenten strengere regels hanteren dan anderen. Het Zwitserse voorbeeld geeft een unieke mogelijkheid om voorbij de formele staatsburgerschapmodellen te kijken