Ökonomenstimme 19. Januar 2012
Mathias Binswangers Kritik an der Mainstreamökonomie ist der am meisten gelesene Artikel auf Oekonomenstimme.
Ökonomenstimme 21. Dezember 2011
Macht Wirtschaftswachstum die Menschen in einem Land im Durchschnitt zufriedener oder glücklicher? Diese Fragestellung hat inzwischen eine fast 40-jährige Geschichte, die mit einem Artikel des Amerikanischen Ökonomen, Richard Easterlin von der University of Southern California im Jahre 1973 begann.
© St. Galler Tagblatt, 11. Oktober, 2008; S. 11
Den Mechanismus der gegenwärtigen Finanzkrise erklärt der Ökonom Mathias Binswanger: Die Nationalbanken haben zu billige Kredite vergeben, mit denen die Banken Schrott produzierten. Den soll der Staat jetzt selbst wieder aufkaufen.
© Aargauer Zeitung / MLZ; 02.05.2007; Titelseite
Schweizer Firmen Im Visier von Hedge Funds, Private Equity und Oligarchen
Heimlich jagen ausländische Investoren börsenkotierte Schweizer Firmen. Die MZ geht der Frage nach, ob es zum Ausverkauf der Schweizer Industrie kommt.
Journal of Post Keynesian Economics 24 Jul 2015
Abstract: In Binswanger (2009) it was shown that in a simple circular flow model of a pure credit economy, positive growth rates are necessary in the long run in order to enable firms to make profits in the aggregate. If the growth rate falls below a certain positive threshold level, firms will make losses. Certain aspects of this model are challenged by the papers of Zsolt Gilányi and Reeves Johnson in this issue of the Journal But nevertheless, both papers confirm the existence of a growth imperative in capitalist economies. This may be taken as evidence that the finding of a growth imperative is quite robust with respect to different model assumptions.
Der Begriff der "Nachhaltigkeit" bzw. "Sustainable Development" ist seit der Veröffentlichung des Brundtland-Berichtes im Jahre 1987 zu der wahrscheinlich am häufigsten gebrauchten Vokabel in der Oekonomie geworden, wenn es darum geht, ökologische Ziele für die Zukunft zu formulieren.
Leibniz-Institut LIFIS 05. April 2011
In der Universität unserer Tage geht es offensichtlich nur noch beiläufig um Erkenntnisgewinn, selbst wenn in Sonntagsreden so getan wird, als stünde dieses Ziel weiterhin im Vordergrund. Tatsächlich sind aber moderne Universitäten einerseits zu Fundraising-Institutionen mutiert, die es darauf anlegen, möglichst viele Forschungsgelder für sich zu akquirieren. Andererseits sind sie Publikationsfabriken geworden, die versuchen, ihren Publikationsoutput zu maximieren.
Journal of Post Keynesian Economics / Summer 2009, Vol. 31, No. 4 707
This paper postulates the existence of a growth imperative in capitalist economies. The argument is based on a simple circular flow model of a pure credit economy, where production takes time. In this economy, positive growth rates are necessary in the long run in order to enable firms to make profits in the aggregate. If the growth rate falls below a certain positive threshold level, firms will make losses. Under these circumstances, they will go out of business, which moves the whole economy into a downward spiral. According to the model presented, capitalist economies can either grow (at a sufficiently high rate) or shrink if the growth rate falls below the positive threshold level. Therefore, a zero growth economy is not feasible in the long run.
The Journal of Socio-Economics 35 (2006) 366–381
Several recent studies have shown that in developed countries, reported levels of happiness do not increase in line with income levels, and people are experiencing more and more time pressure. Together these findings suggest that people do not maximize happiness—they would be better off if they worked less and had more leisure time. Two treadmill effects behind this paradox of happiness have been described in the literature: the positional treadmill, the hedonic treadmill. In this paper I propose two additional treadmill effects: the multi-option treadmill, and the time-saving treadmill, which both seem to make a significant contribution to the stagnation of happiness.
Journal of Economics 84 (2005): S. 179-202
It is well known that bubbles possess the potential to increase economic welfare due to a reduction of capital accumulation in deterministic overlapping generations economies that are in a dynamically inefficient state. However, actual economies are stochastic, where the concept of dynamic efficiency has turned out to be a complex issue. This paper contributes in two ways. First, the model presented in this paper establishes that dynamic inefficiency is not a necessary condition for deterministic bubbles in a stochastic economy. Second, a simulation shows that although bubbles are unable to persist in the stochastic steady state, they can still cure overaccumulation of capital for a time long enough to cover agents relevant time horizon.
The Quarterly Review of Economics and Finance 44 (2004) 237–252
Several empirical studies show that a substantial fraction of the changes in growth rates of real activity can be explained by lagged aggregate stock return variations in the U.S. as well as in other G-7 countries from the 1950s to the 1990s. However, the results presented in Binswanger.[International Review of Economics and Finance 9 (2000) 387] indicate that this traditionally strong relation has disappeared in the U.S. in the early 1980s. This paper shows that a similar breakdown occurred in Canada, Japan and in an aggregate economy consisting of the four European G-7 countries. The results provide evidence in favor of the hypothesis that speculative bubbles during the 1980s and 1990s were an international phenomenon. © 2003 Board of Trustees of the University of Illinois. All rights reserved.
Int. J. Energy Technology and Policy, Vol. 2, No. 3, 2004, S. 209-218
This paper highlights a specific aspect of time allocation within households: the impact of time-saving technological progress on time use as well as on energy use for non-productive activities. It shows that, under standard assumptions, time-saving technological progress causes a feedback on time use (a rebound effect). If the feedback is strong, households may not save any time at all although they constantly invest in time-saving devices. Moreover, innovations of a time-saving nature tend to have a substantial impact on energy consumption. When the opportunity costs of time (the wage rate) are high and energy prices are low, time-saving innovations are also likely to increase energy consumption.
Int. Fin. Markets, Inst. and Money 14 (2004) 185–201
This paper presents a bivariate structural VAR model which includes growth rates of industrial production and stock prices. Analyzing data from 1960 to 1999 we find that real activity shocks only explain a small fraction of the variability in real stock prices in the US, Japan and an aggregate European economy since the early 1980s, while they explain a substantial proportion over the 1960s and 1970s in all areas. The results provide additional evidence for the existence of speculative bubbles over the 1980s and 1990s.
Finance Research Letters 1 (2004) 90–99
We estimate various structural vector autoregression models for the US in order to assess the importance of fundamental shocks in explaining stock price movements. The results show that models using real activity variables place more weight on fundamental shocks than models using dividends or earnings. However, according to all models fundamental shocks became substantially less important during the period 1982–2002 if compared to 1953–1982.
2004 Elsevier Inc. All rights reserved.
Ecological Economics 36 (2001) 119–132
Sustainability concepts that rest on the idea of resource- or energy-efficiency improvements due to technological progress tend to overestimate the potential saving effects because they frequently ignore the behavioral responses evoked by technological improvements.