Möglichkeiten der Konjunktursteuerung: Grundsätzliche Überlegungen für die Schweiz

First, the challenges of the financial and economic crisis for macroeconomic theory are addressed. Then, the possibilities of Swiss fiscal policy to overcome this crisis or at least to mitigate its economic and social consequences are discussed. It is shown that these possibilities are rather limited, because in Switzerland the crisis is mainly one of the export industry. In this situation, the typical demand management instruments of fiscal policy are not effective. Thus, it is even more important that the Swiss government takes the long-run (growth) impact of its policy measures into account and that it engages itself in fighting protectionism and keeping international markets open.Financial and Economic Crisis, Macroeconomic Theory, Fiscal Policy, Protectionism