Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/128016 
Autor:innen: 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Working Paper No. 02.03
Verlag: 
Swiss National Bank, Study Center Gerzensee, Gerzensee
Zusammenfassung: 
The monetary implications arising from EMU for Swiss monetary policy show up primarily in the exchange rate. Until now, fluctuations in the Swiss franc against the euro have been surprisingly moderate. The Swiss franc has thus tracked the euro's decline against the US dollar without experiencing strong inflationary pressures and a convergence in the interest-rate differential: a paradoxical result for a small open economy. This paper examines critically whether the recent record reveals information about a change in SNB monetary policy. It also attempts to shed light on the SNB's ability to implement an independent monetary policy with the new landscape defined by EMU. Four hypotheses of euro tracking are considered.
Schlagwörter: 
Swiss franc
euro
fear of floating
JEL: 
E52
E58
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
102.72 kB





Publikationen in EconStor sind urheberrechtlich geschützt.