Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259776 
Year of Publication: 
2022
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 158 [Issue:] 1 [Article No.:] 1 [Publisher:] Springer [Place:] Heidelberg [Year:] 2022 [Pages:] 1-13
Publisher: 
Springer, Heidelberg
Abstract: 
This paper characterizes the relationship between monetary aggregates, inflation and economic activity in Switzerland since the mid-1970s. Traditional forms of money demand and quantity theory relationships have remained stable over the whole period. Broad money excesses over trend values, accounting for a secular decline in interest rates and thus in trend velocity, have been followed by persistently higher inflation and output with the usual monetary policy transmission lags. Money and exchange rate fluctuations can explain the major inflation developments in Switzerland over the past four decades.
Subjects: 
Monetary policy
Monetary aggregates
Inflation
Trend velocity
JEL: 
E52
E58
E41
E30
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.