Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185944
Authors: 
Abbassi, Puriya
Nautz, Dieter
Offermanns, Christian
Year of Publication: 
2010
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 146 [Year:] 2010 [Issue:] 1 [Pages:] 313-340
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
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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