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Why 'Basel II' May Need a Leverage Ratio Restriction
Blum, Jürg M. - Schweizerische Nationalbank (SNB) - 2007
by the banks. It is shown that if the supervisors have a limited ability to identify or to sanction dishonest banks, an … helps to offset the banks' potential capital savings of understating their risks by (i) reducing banks' put option value of … limited ex ante, and by (ii) increasing the banks' net worth, which in turn enhances the supervisors' ability to sanction …
Persistent link: https://www.econbiz.de/10008917446
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Why 'Basel II' May Need a Leverage Ratio Restriction
Blum, Juerg - Schweizerische Nationalbank (SNB) - 2007
by the banks. It is shown that if the supervisors have a limited ability to identify or to sanction dishonest banks, an … helps to offset the banks' potential capital savings of understating their risks by (i) reducing banks' put option value of … limited ex ante, and by (ii) increasing the banks' net worth, which in turn enhances the supervisors' ability to sanction …
Persistent link: https://www.econbiz.de/10005091308
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Measuring Income Elasticity for Swiss Money Demand: What do the Cantons say about Financial Innovation?
Fischer, Andreas - Schweizerische Nationalbank (SNB) - 2006
Recent time-series evidence has re-confirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study...
Persistent link: https://www.econbiz.de/10008925037
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Quantification and characteristics of household inflation expectations in Switzerland
Rosenblatt-Wisch, Rina; Scheufele, Rolf - Schweizerische Nationalbank (SNB) - 2014
Inflation expectations are a key variable in conducting monetary policy. However, these expectations are generally unobservable and only certain proxy variables exist, such as surveys on inflation expectations. This paper offers guidance on the appropriate quantification of household inflation...
Persistent link: https://www.econbiz.de/10011098075
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A compact open economy DSGE model for Switzerland
Rudolf, Barbara; Zurlinden, Mathias - Schweizerische Nationalbank (SNB) - 2014
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...
Persistent link: https://www.econbiz.de/10011079242
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Money Growth, Output Gaps and Inflation at Low and High Frequency: Spectral Estimates for Switzerland
Assenmacher, Katrin; Gerlach, Stefan - Schweizerische Nationalbank (SNB) - 2006
While monetary targeting has become increasingly rare, many central banks attach weight to money growth in setting …
Persistent link: https://www.econbiz.de/10005091276
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Measuring Income Elasticity for Swiss Money Demand: What do the Cantons say about Financial Innovation?
Fischer, Andreas - Schweizerische Nationalbank (SNB) - 2006
Recent time-series evidence has re-confirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study...
Persistent link: https://www.econbiz.de/10005091291
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A Two-Pillar Phillips Curve for Switzerland
Gerlach-Kristen, Petra - Schweizerische Nationalbank (SNB) - 2006
Historically, money growth has played an important role in Swiss monetary policy, until 1999 as a target and from 2000 onwards as an indicator variable. Since the new policy framework focusses on an inflation forecast, the question arises how useful money growth is for predicting future price...
Persistent link: https://www.econbiz.de/10005091298
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Daytime is money
Kraenzlin, Sébastien; Nellen, Thomas - Schweizerische Nationalbank (SNB) - 2010
Based on real-time trade data from the Swiss franc overnight interbank repo market and SIX Interbank Clearing (SIC) - the Swiss real-time gross settlement (RTGS) system - we are able to gain valuable insights on the daytime value of money and its determinants: First, an implicit hourly interbank...
Persistent link: https://www.econbiz.de/10008917453
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Credit Reporting, Relationship Banking, and Loan Repayment
Brown, Martin; Zehnder, Christian - Schweizerische Nationalbank (SNB) - 2006
This paper examines the impact of credit reporting on the repayment behavior of borrowers. We implement an experimental credit market in which loan repayment is not third-party enforceable. We then compare market outcome with a public credit registry to that without a credit registry. This...
Persistent link: https://www.econbiz.de/10008925004