Tag Archives: Incentive

Interview on Bank Capital Requirements, Tamedia Outlets, 2026

“Ob Bäcker oder Grossbank – wer Gewinne erzielt, muss im Krisenfall auch Verluste tragen,” (Whether Bakery or Global Bank: Those Who Earn the Profits Must Also Bear the Losses). Interview published in Tagesanzeiger online, Der Bund online, Berner Zeitung online, Basler Zeitung online, and elsewhere. 7 August 2026. PDF of hardcopy.

“Wirtschaftspolitik angesichts von Covid-19: Lastenteilung, aber keine Preismanipulationen (Economic Policy Responses to Covid-19: Burden Sharing, But no Price Distortions),” ÖS, 2020

Ökonomenstimme, 3 April 2020. HTML. Shorter version published in NZZ.

The aggregate Covid-19 shock calls for transfers of the type a pandemic insurance would have brought about. But we must not distort relative prices. They have to reflect scarcity, to provide incentives to overcome it. (This applies within countries but also across.)