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Schweizerische Pflichtlagerhaltung und ihre Finanzierung
[Swiss obligatory stockpiling and its financing]

Author

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  • Gilroy, Bernard Michael

Abstract

Due to the recent renouncement of the public contract governing the financial scheme behind the Swiss obligatory commodity stockpiling arrangement, a new arrangement is needed that will prove acceptable to the engaged parties (the Swiss central bank, the "Schweizerische Bankiervereinigung" and the "Bundesamt für wirtschaftliche Landesversorgung"). The paper examines general implications of obligatory stockpiling and discusses potential methods of financing obligatory Swiss commodity stockpiles. Economic arguments question the desireability of obligatory stockpiles. The decision as to the appropriate mode of financing obligatory stockpiles is basically a political one which should take regard of the economic implications behind the chosen financial arrangement.

Suggested Citation

  • Gilroy, Bernard Michael, 1991. "Schweizerische Pflichtlagerhaltung und ihre Finanzierung
    [Swiss obligatory stockpiling and its financing]
    ," MPRA Paper 21083, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:21083
    as

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    References listed on IDEAS

    as
    1. Paul H. Cootner, 1960. "Returns to Speculators: Telser versus Keynes," Journal of Political Economy, University of Chicago Press, vol. 68, pages 396-396.
    2. Hirshleifer, David, 1989. "Futures Trading, Storage, and the Division of Risk: A Multiperiod Analysis," Economic Journal, Royal Economic Society, vol. 99(397), pages 700-719, September.
    3. Hirshleifer, Jack, 1987. "Economic Behaviour in Adversity," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226342825.
    4. Gilroy, Bernard Michael & Broll, Udo, 1988. "International Cooperation and Intra-Industrial Transactions," MPRA Paper 18705, University Library of Munich, Germany.
    5. Cootner, Paul H., 1967. "Speculation and Hedging," Food Research Institute Studies, Stanford University, Food Research Institute.
    6. Kaplow, Louis, 1991. "Incentives and Government Relief for Risk," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 167-175, April.
    7. Hicks, J. R., 1975. "Value and Capital: An Inquiry into some Fundamental Principles of Economic Theory," OUP Catalogue, Oxford University Press, edition 2, number 9780198282693.
    8. Lester G. Telser, 1958. "Futures Trading and the Storage of Cotton and Wheat," Journal of Political Economy, University of Chicago Press, vol. 66, pages 233-233.
    9. Bengt Holmstrom, 1979. "Moral Hazard and Observability," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 74-91, Spring.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    obligatory stockpiling; financing; Switzerland;

    JEL classification:

    • H5 - Public Economics - - National Government Expenditures and Related Policies

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