Le droit suisse du logement ne fait pas la différence entre les taux d'intérêt nominaux et les taux d'intérêt réels. Il en résulte une forte sur-indexation des loyers en périodes de taux d'inflation élevés. En raison de cette lacune conceptuelle de la loi sur la protection des...

The Swiss law for the protection of tenants does not distinguish between nominal and real interest rates. As a result, rents are massively overindexed in periodes of high inflation. In the period 1990-1996, the structural faults in the swiss law have cost the tenants roughly 9 bio. Fr. The...

The purpose of this paper is to study the SNB's performance in managing Switzerland's seignorage wealth. The main conclusion is that the SNB has held an asset portfolio that was excessively liquid, not sufficiently hedged and not sifficiently diversified.

This paper studies the state building insurance monopoly in Spain, the Consorcio the Compensacion de Seguros. It is shown that, just like its Swiss counterparts, the Consorcio operates with exceptionally low transactions costs. Furthermore it allows the supply of a very low cost insurance cover...

Der Gebäudeversicherungsmarkt in Frankreich ist durch erhebliche Staatseingriffe geprägt. Die französische Regierung will offensichtlich, dass ein gewisser Versicherungsschutz (insbesondere gegen Naturkatastrophen) im ganzen Land zu gleichen Preisen angeboten wird. Sie ist bisher jedoch nicht...

We study, what Switzerland can learn from the disappearance of the property insurance monopolies in Germany. We show that the German insurance monopolies did not fight hard enough to defend their interests. a) Most of them knew that they would be bought up by another public insurance company....

In this paper we briefly summarise the results of our studies of the property insurance market in 5 countries, Britain, Spain, France, Switzerland and Germany. We then draw conclusions, how the market for insurance against natural disasters (such as floods or subsidence) should be...