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Swiss National Bank: is the recent loss a threat to monetary policy? : a research note

Kämpf, Vanessa; Stadtmann, Georg; Zimmermann, Lilli - 2023

The Swiss National Bank (SNB) announced to refrain from profit distribution in 2022 owing to the accumulation of a huge financial loss. In this note we examine the key determinants of the SNB's loss and shed light on its implications to conduct monetary policy. In particular, we show that...

Persistent link: https://www.econbiz.de/10014280709

Swiss National Bank : is the recent loss a threat to monetary policy? ; a research note

Kämpf, Vanessa; Stadtmann, Georg; Zimmermann, Lilli - In: Journal of central banking theory and practice 13 (2024) 1, pp. 43-55

The Swiss National Bank (SNB) has announced it will refrain from profit distribution in 2022 owing to the accumulation of a huge financial loss. In this paper we examine key determinants of the SNB's loss and shed light on its implications to monetary policy pursuit. In particular, we show that...

Persistent link: https://www.econbiz.de/10014496282

Does Okun's law suffer from COVID-19? Evidence from Europe and the US - A research note

Russnak, Jan; Stadtmann, Georg; Zimmermann, Lilli - 2023

We analyse the effect of COVID-19 on the Okun's law relationship for several EU countries and the US. Results are based on regressions and a systematic DF-Beta analysis. Our results indicate that the year 2020 is an outlier in the Okun relationship. However, the direction of change is different...

Persistent link: https://www.econbiz.de/10014305027

Die Ursachen der Freigabe des Schweizer Franken Wechselkurses

Stadtmann, Georg; Zimmermann, Lilli - 2015

In diesem Beitrag wird ein Währungskrisenmodell der zweiten Generation vorgestellt. Ein wesentliches Charakteristikum besteht darin, dass multiple Gleichgewichte auftreten können. Verändern sich die Erwartungen der rationalen Agenten, können plötzliche und starke Wechselkurssprünge...

Persistent link: https://www.econbiz.de/10010513000