Calendar of events and News

Decisions of the General Meeting 2015 of Shareholders

Partner Institution

Swiss National Bank

Further information (English) Friday, April 24, 2015

Swiss National Bank - independent and firmly anchored

The policy of active crisis management on the part of the central banks has triggered a broad international debate on the mandate, independence, responsibility and accountability of these institutions. Public interest in institutional questions relating to the Swiss National Bank (SNB), too, has increased palpably - and not just since the discontinuation of the minimum exchange rate. In the...

Partner Institution

Swiss National Bank

Further information (English) Friday, April 24, 2015

SNB monetary policy after the discontinuation of the minimum exchange rate

On 15 January 2015, the Governing Board of the Swiss National Bank (SNB) decided to discontinue the minimum exchange rate of CHF 1.20 per euro because the international environment for its monetary policy had changed dramatically. Due to the sustained weakening of the euro during the first half of January 2015, the minimum exchange rate could only be enforced through permanent currency...

Partner Institution

Swiss National Bank

Further information (English) Friday, April 24, 2015

SNB Research Update April 2015

Partner Institution

Swiss National Bank

Further information (English) Thursday, April 23, 2015

Monthly Statistical Bulletin April 2015

Partner Institution

Swiss National Bank

Further information (English) Tuesday, April 21, 2015

Monthly Bulletin of Banking Statistics April 2015

Partner Institution

Swiss National Bank

Further information (English) Tuesday, April 21, 2015

A dynamic North-South model of demand-induced product cycles

This paper presents a dynamic North-South general-equilibrium model where households have non-homothetic preferences. Innovation takes place in a rich North while firms in a poor South imitate products manufactured in the North. Introducing non-homothetic preferences delivers a complete international product cycle as described by Vernon (1966), where the different stages of the product cycle are...

Partner Institution

Swiss National Bank

Further information (English) Thursday, April 16, 2015

Public bonds of the Swiss Confederation: Results

Partner Institution

Swiss National Bank

Further information (English) Tuesday, August 4, 2015

Public bonds of the Swiss Confederation: New bond issues

Partner Institution

Swiss National Bank

Further information (English) Saturday, July 4, 2015

Complete annual report 2014

Partner Institution

Swiss National Bank

Further information (English) Thursday, March 26, 2015

A new chapter in monetary policy implementation

On 15 January of this year, the Swiss National Bank (SNB) discontinued the minimum exchange rate against a backdrop of growing divergence between the US and the euro area. On several fronts - inflation, economic growth, interest rate expectations and monetary policy - differences had become increasingly acute in the course of 2014. The SNB's decision also marked a new chapter for the...

Partner Institution

Swiss National Bank

Further information (English) Thursday, March 26, 2015

After the minimum exchange rate: new monetary policy challenges

From 6 September 2011 to 15 January 2015, the minimum exchange rate of CHF 1.20 per euro was the key monetary policy instrument of the Swiss National Bank (SNB). During that period, it served Switzerland's economy well, partially correcting the massive overvaluation of the Swiss franc. Last year, monetary policy in the major currency areas increasingly began to diverge. The minimum exchange rate...

Partner Institution

Swiss National Bank

Further information (English) Thursday, March 26, 2015


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