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Sonderforschungsbereich 649: Ökonomisches Risiko, Humboldt-Universität Berlin >
SFB 649 Discussion Papers, HU Berlin >
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http://hdl.handle.net/10419/39314
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| Title: | | Interest rate dynamics and monetary policy implementation in Switzerland  |
| Authors: | | Abbassi, Puriya Nautz, Dieter Offermanns, Christian J. |
| Issue Date: | | 2009 |
| Series/Report no.: | | SFB 649 discussion paper 2009,062 |
| Abstract: | | The maturity of the operational target of monetary policy is a distinguishing feature of the SNB's operational framework of monetary policy. While most central banks use targets for the overnight rate to signal the policy-intended interest rate level, the SNB announces a target range for the three-month Libor. This paper investigates the working and the consequences of the SNB's unique operational framework for the behavior of Swiss money market rates before and during the financial crisis. |
| Subjects: | | Implementation of Monetary Policy Operational Targets of Monetary Policy Three-Month Rate Targeting Financial Crisis. |
| JEL: | | E52 E58 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SFB 649 Discussion Papers, HU Berlin
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