The Swiss National Bank and Seignorage

The purpose of this paper is to study the SNB's performance in managing Switzerland's seignorage wealth. The main conclusion is that the SNB has held an asset portfolio that was excessively liquid, not sufficiently hedged and not sifficiently diversified.

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Year of publication:	1996-01
Authors:	UNGERN-STERNBERG, Thomas VON
Institutions:	Départment d'économétrie et d'économie politique (DEEP), Faculté des Hautes Études Commerciales (HEC)
Subject:	seignorage \| centralbanks \| asset management \| diversification

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Series:	Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP).
Type of publication:	Book / Working Paper
Notes:	Published in Revue Economique et Sociale, 1997, pp. 149-178; Published in German "Die Seigniorage-Gewinne der Schweizerischen Nationalkbank" in: Thomas von Ungern-Sternberg , Reformbedürftige Nationalbank- Neue Impulse für eine alte Institution, Verlag Rüegger, Zürich, 1998, pp. 15-40 22 pages
Classification:	E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005481776