economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary …We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open …. Finally, our model is applied to the Swiss National Bank. Our main indicator reveals that the exchange rate was the dominant …

economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary …We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open …. Finally, our model is applied to the Swiss National Bank. Our main indicator reveals that the exchange rate was the dominant …

unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the … real estate market. Employing a new dataset for Switzerland we estimate vector autoregressive models and find substitution … property prices do not react on interest rate variations. -- Monetary policy ; interest rate shocks ; real estate ; stock …

unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the … real estate market. Em-ploying a new dataset for Switzerland we estimate vector autoregressive models and find substitution … property prices do not react on interest rate variations. -- monetary policy ; interest rate shocks ; real estate ; stock …

We estimate monetary policy rules in Switzerland for 1981-1997. In addition to an inflation gap, we find that forward …

This paper analyzes the international transmission effects of euro area monetary policy shocks in to other western … European countries, namely the United Kingdom, Sweden, Switzerland, Denmark, and Norway. For this purpose, we use a structural … VAR model of the euro area and augment it consecutively by the foreign variables of interest. We find that a monetary …