Bordo, Michael; Helbling, Thomas; James, Harold - In: Open Economies Review 18 (2007) 1, pp. 1-25
In this paper we examine the experience of Switzerland’s devaluation in 1936. We ask the following questions: what were the issues at stake in the political debate? What was the cost to Switzerland of the delay in the franc devaluation? What would have been the costs and benefits of an...