Wirtschaftstheorie

Wirtschaftstheorie

Wir forschen in allen Bereichen der Wirtschaftstheorie. Unsere Schwerpunkte sind Monetäre Ökonomie, Geldpolitik, Geldtheorie (u.a. Bitcoin und Blockchain) und Spieltheorie. Die Arbeiten unserer Doktoranden und Masterstudenten ist ein wichtiger Teil unserer Forschung. Das Team Wirtschaftstheorie wird durch Prof Dr Aleksander Berentsen geleitet.

 

Bitcoin, Blockchain und Kryptoassets (A. Berentsen, F. Schär 2017)

Die Blockchain wird als Innovation des Jahrzehnts gehandelt und hat das Potential die Welt auf ähnliche Weise zu verändern, wie dies das Aufkommen des Internets tat. Dieses Buch beinhaltet sämtliche Informationen, die zum Verständnis dieser faszinierenden Technologie benötigt werden. Der interdisziplinäre Blickwinkel und die fachliche Vollständigkeit sorgen dafür, dass das Buch für Neueinsteiger und Fortgeschrittene gleichermassen interessant und lesenswert ist.

 

Vollgeld-Initiative

Am 1. Dezember 2015 wurde die Vollgeld-Initiative eingereicht. Sie strebt eine radikale Abkehr vom bestehenden Zahlungs- und Finanzsystem an. Wir haben Informationen zur Vollgeld-Initiative bereit gestellt. Wir zeigen auf, was der Hintergrund der Vollgeld-Initiative ist, was sie ändern möchte, wo ihre Schwächen liegen und welche Alternativen es gibt.

Negativzinsen

Bargeld ist in Ungnade gefallen, der Bargeldgebrauch wird weltweit eingeschränkt. Die Kritik basiert auf drei Punkten: Erstens sei die Verwendung von Bargeld ineffizient. Bargeld erleichtere zweitens Kriminalität, Geldwäsche und Steuerhinterziehung. Und zu guter Letzt behindere es die Geldpolitik. Im Artikel the fallacy of a cashless society (also cash and negative interest rates) werden diese Argumente widerlegt.


Wissenschaftliche Veröffentlichungen

Limelight on Dark Markets: Theory and Experimental Study of Liquidity and Information, Journal of Economic Dynamics and Control, Volume 75, February 2017, Pages 70–90.
With Michael McBride, University of California at Irvine, USA and Guillaume Rocheteau, University of California at Irvine, USA.

Limited Commitment and the Demand for Money, The Economic Journal, forthcoming.
With Samuel Huber, University of Basel, Switzerland, and Alessandro Marchesiani, University of Liverpool, United Kingdom. 

The Societal Benefits of a Financial Transaction Tax, 2016.
European Economic Review, Volume 89, October 2016, Pages 303-323.
With Samuel Huber, University of Basel, Switzerland, and Alessandro Marchesiani, University of Liverpool, United Kingdom.

Monetary Policy with Asset-Backed Money, 2016. 
Journal of Economic Theory, 164(July), 166–186.
With David Andolfatto, Federal Reserve Bank of St. Louis and Simon Fraser University and Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Financial Innovations, Money Demand and the Welfare Cost of Inflation, 2015.
Journal of Money, Credit and Banking, 47(2), 223-261. With Samuel Huber, University of Basel, Switzerland, and Alessandro Marchesiani, University of Liverpool.

Optimal Stabilization Policy with Search Externalities, 2015.
Macroeconomic Dynamics, 19(3), 669-700.
With Christopher Waller, Federal Reserve Bank of St.Louis, USA.

Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic, 2014. 
Review of Economic Dynamics, 17(3), 523-542.
With Alessandro Marchesiani, University of Liverpool, and Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Degreasing the Wheels of Finance, 2014.
International Economic Review, 55(3), 735-763.
With Samuel Huber, University of Basel and Alessandro Marchesiani, University of Liverpool.

Optimal Disclosure Policy and Undue Diligence, 2014.
Journal of Economic Theory, 149, 128-152.
With David Andolfatto, Federal Reserve Bank of St. Louis and Simon Fraser University and Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Liquidity, Innovation and Growth, 2012.
Journal of Monetary Economics, 59, 721-737.
With Mariana Rojas Breu, Université Paris Dauphine, France, and Shouyong Shi, University of Toronto, Canada.

Price Level Targeting and Stabilization Policy, 2011.
Journal of Money, Credit and Banking, 43(7), 559-580. 
With Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Outside Versus Inside Bonds: A Modigliani-Miller Type Result for Liquidity Constrained Households, 2011.
Journal of Economic Theory, 146, 1852–1887.
With Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Inflation and Unemployment in the Long Run, 2011. 
American Economic Review, 101(1), 371-98.
With Guido Menzio, University of Pennsylvania, USA and Randall Wright, University of Wisconsin-Madison.
additional material

Central Bank Design with Heterogeneous Agents, 2009. 
European Economic Review, 53(2), 139-152.
With Carlo Strub, University Of Basel.

Monetary Policy in a Channel System, 2008. 
Journal of Monetary Economics, 55(6), 1067-1080.
With Cyril Monnet, University of Bern, Switzerland.

Learning, Public Good Provision and the Information Trap, 2008.
Journal of Public Economics, 92, 998-1010.
With Simon Loertscher, University of Melbourne, USA and Esther Bruegger, NERA Economic Consulting, USA.

On Cheating, Doping and Whistleblowing, 2008.
European Journal of Political Economy, 24(2), 415-436.
With Simon Loertscher, University of Melbourne, USA and Esther Bruegger, NERA Economic Consulting, USA.

Friedman Meets Hosios: Efficiency in Search Models of Money, 2007.
The Economic Journal 117 (516), 174-195.
With Guillaume Rocheteau, Federal Reserve Bank of Cleveland, USA, and Shouyong Shi, University of Toronto, Canada.

Money, Credit and Banking, 2007.
Journal of Economic Theory, 135(1), 171-195.
With Gabriele Camera, Purdue University, USA, and Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Implementing monetary policy using a corridor system, 2006.
Research Bulletin, European Central Bank, DG Research, No. 5, December 2006.
With Cyril Monnet, University of Bern, Switzerland.
On the Private Provision of Fiat Currency, 2006.
European Economic Review, 50(7), 1683-1698.

The Distribution of Money Holdings and the Non-Neutrality of Money, 2005.
International Economic Review, 46(2), 465-487. 
With Gabriele Camera, Chapman University, USA, and Christopher Waller, Federal Reserve Bank of St. Louis, USA.

Money and Information, 2004.
Review of Economic Studies, 71, 915-944. 
With Guillaume Rocheteau, University of California at Irvine, USA.

The Distribution of Money and Prices in an Equilibrium with Lotteries, 2004. 
Economic Theory, 24(4), 887-906. 
With Gabriele Camera, Chapman University, USA, and Christopher Waller, Federal Reserve Bank of St. Louis, USA. 
Reprinted in “Recent developments in money and finance,” G. Camera ed., 
Springer.

Fraudulent Accounting and Other Doping Games, 2004.
Journal of Institutional and Theoretical Economics, 160(3), 402-415.
With Yvan Lengwiler, University of Basel.

Money and the Gains from Trade, 2003.
International Economic Review, 44(1), 263-297. 
With Guillaume Rocheteau, Federal University of California at Irvine, USA.

On the Friedman Rule in Search Models of Money, 2003. 
B.E. Journals in Macroeconomics (Contributions to Macroeconomics), Vol. 3, Issue 1.
With Guillaume Rocheteau, University of California at Irvine, USA.

The Economics of Doping, 2002.
European Journal of Political Economy, 18(1), 109-127.

On the Distribution of Money Holdings in a Random-Matching Model, 2002. 
International Economic Review, 43(3), 945-954.

On the Efficiency of Monetary Exchange. How Divisibility of Money Matters, 2002.  Journal of Monetary Economics, 49(8), 1621-1649. 
With Guillaume Rocheteau, University of California at Irvine, USA.

Indivisibilities, Lotteries, and Monetary Exchange, 2002.
Journal of Economic Theory, 107, 70-94.
With Miguel Molico, Bank of Canada, Canada, and Randall Wright, University of Wisconsin-Madison, USA.

Money in Bilateral Trade, 2002.
Swiss Journal of Economics and Statistics, 138(4), 489-506. 
With Guillaume Rocheteau, University of California at Irvine, USA.

Monnaie et Termes de l'échange dans les Modèles de Prospection, 2001
Revue d’Economie Politique 111 (3), 377-99. 
With Guillaume Rocheteau, University of California at Irvine, USA.

Money Inventories in Search Equilibrium, 2000.
Journal of Money, Credit, and Banking, 32(2), 168-178.

Monetary Policy Implications of Digital Money: Reply to Malte Krueger, 1999. 
Kyklos (International Review of Social Science), 52(2), 263-264.

Monetary Policy Implications of Digital Money, 1998.
Kyklos (International Review of Social Sciences), 51(1), 89-117.

 

Working Papers

Exit Strategies and Monetary Policy, 2017.
With Sébastien Kraenzlin, Swiss National Bank, and Benjamin Müller, Swiss National Bank and University of Basel.

Exit Strategies and Trade Dynamics in Repo Markets, 2016.
With Sébastien Kraenzlin, Swiss National Bank, and Benjamin Müller, Swiss National Bank and University of Basel.

A Tale of Fire Sales and Liquidity Hoarding, 2014.
With Benjamin Müller, Swiss National Bank and University of Basel.

Free-Riding on Liquidity, 2012.
With Samual Huber, University of Basel, Switzerland, and Alessandro Marchesiani, University of Liverpool.

 

About the Bernoulli Center of Economics

in 2006, we have founded the Bernoulli Center for Economics in honour of Daniel Bernoulli. Daniel Bernoulli is the founder of the expected utility theory which is a cornerstone in modern economics. His now famous article "Specimen Theoriae Novae de Mensura Sortis" was published in 1738, 272 years ago. Daniel Bernoulli was a professor at the University of Basel in the 18th century.

 

Contact

Wirtschaftswissenschaftliche Fakultät
Professur Wirtschaftstheorie
Universität Basel
Peter Merian-Weg 6
Postfach
4002 Basel
Schweiz

Professur

Prof. Dr. Aleksander Berentsen
Büro 4.52
Tel.: +41 61 207 12 05
E-Mail aleksander.berentsen-at-unibas.ch

Letzte Änderung: 13.06.2017