Calendar of events and News

A compact open economy DSGE model for Switzerland

This study describes a compact dynamic stochastic general equilibrium (DSGE) model fitted for the Swiss economy with Bayesian techniques. The model features two economies (small home economy, large foreign economy), five types of agents (households, producers of tradables, producers of non-tradables, retailers, monetary authority), nominal and real frictions, and a number of shocks. The study...

Partner Institution

Swiss National Bank

Further information (English) Monday, November 24, 2014

Sound money - a fundamental pillar of our society

Money is sound when it fulfils its functions as a means of payment and store of value as smoothly and reliably as possible in people's everyday lives. Sound money retains its value and is generally accepted. It also makes an important contribution to social harmony and material prosperity. Sound money is therefore a central pillar of our society. The mandate of monetary policy is to ensure that...

Partner Institution

Swiss National Bank

Further information (English) Sunday, November 23, 2014

Monthly Statistical Bulletin November 2014

Partner Institution

Swiss National Bank

Further information (English) Friday, November 21, 2014

Monthly Bulletin of Banking Statistics November 2014

Partner Institution

Swiss National Bank

Further information (English) Friday, November 21, 2014

Household Wealth 2013

Partner Institution

Swiss National Bank

Further information (English) Thursday, November 20, 2014

Household wealth in 2013

Partner Institution

Swiss National Bank

Further information (English) Thursday, November 20, 2014

Swiss Financial Accounts 2012

Partner Institution

Swiss National Bank

Further information (English) Thursday, November 20, 2014

The SNB's investment policy - some topical issues

In the search for diversification, Asia-Pacific markets in particular have become increasingly important for the Swiss National Bank's (SNB) investment policy in recent years. The SNB took the decision to open a Singapore branch office in mid-2013 with this in mind. The growing importance of Asia-Pacific markets is also reflected in the SNB's foreign exchange reserves, where exposure to Japan,...

Partner Institution

Swiss National Bank

Further information (English) Thursday, November 20, 2014

Public bonds of the Swiss Confederation: Results

Partner Institution

Swiss National Bank

Further information (English) Thursday, December 11, 2014

Public bonds of the Swiss Confederation: New bond issues

Partner Institution

Swiss National Bank

Further information (English) Tuesday, November 11, 2014

Carry Trade Activities: A Multivariate Threshold Model Analysis

In this empirical study, we analyze the relationship between carry trade positions and some key financial as well as macroeconomic variables using a multivariate threshold model. It is often stated that the Swiss franc serves as a funding currency. We therefore focus on carry trades based on the USD/CHF and EUR/CHF currency pairs over the period from 1995 to mid-2008. We conclude that carry...

Partner Institution

Swiss National Bank

Further information (English) Friday, April 11, 2014

Trade linkages and the globalisation of inflation in Asia and the Pacific

Some observers argue that increased real integration has led to greater co-movement of prices internationally. We examine the evidence for cross-border price spillovers among economies participating in the pan-Asian cross-border production networks. Starting with country-level data, we find that both producer price and consumer price inflation rates move more closely together between those Asian...

Partner Institution

Swiss National Bank

Further information (English) Friday, April 11, 2014

The Collateral Costs of Clearing

In this working paper, we study the three generic clearing arrangements in the presence of two-sided limited commitment: simple bilateral clearing, segregated collateral clearing through a third party, and - most sophisticated of all - central counterparty (CCP) clearing. Clearing secures the settlement of obligations from over-the-counter (OTC) forward contracts that smooth the income of...

Partner Institution

Swiss National Bank

Further information (English) Friday, April 11, 2014


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