Rich, Georg - In: Swiss Journal of Economics and Statistics 143 (2007) 3, pp. 283-329
After the switch to a floating exchange rate in 1973, the Swiss National Bank at first adopted annual monetary targets … monetary targets, the SNB was able to reduce the inflation trend to low levels. However, it was less successful in preserving … price stability during business-cycle expansions because the monetary targets did not call for a sufficiently pre …