[unable to retrieve full-text content]
Read More »Articles by SwissNationalBank
2024-03-11 – Press release – Claudia Aebersold to become new Head of Communications at the Swiss National Bank
7 days ago[unable to retrieve full-text content]
Read More »2024-03-11 – Data portal – Important monetary policy data, 11 March 2024
8 days ago[unable to retrieve full-text content]
Read More »2024-03-07 – Data portal – IMF SDDS Plus, 7 March 2024
12 days ago[unable to retrieve full-text content]
Read More »2024-03-07 – Data portal – Exchange rate indices, March 2024
12 days ago[unable to retrieve full-text content]
Read More »2024-03-04 – Data portal – Important monetary policy data, 4 March 2024
15 days ago[unable to retrieve full-text content]
Read More »2024-03-04 – Press release – Annual result of the Swiss National Bank for 2023
15 days ago[unable to retrieve full-text content]
Read More »2024-03-01 – Data portal – Interest rates and exchange rates, March 2024
17 days ago[unable to retrieve full-text content]
Read More »2024-02-29 – Data portal – IMF SDDS Plus, 29 February 2024
19 days ago[unable to retrieve full-text content]
Read More »2024-02-29 – Data portal – SNB balance sheet items end of January 2024
19 days ago[unable to retrieve full-text content]
Read More »2024-02-29 – Press release – SNB Chairman Thomas Jordan to step down at end of September 2024
19 days ago[unable to retrieve full-text content]
Read More »WP – 2024-02-29 – Lukas Voellmy: Decomposing liquidity risk in banking models
19 days agoIn various banking models, banks are viewed as arrangements that insure households against uncertain liquidity needs. However, the exact nature of the liquidity risk faced by households – and hence the insurance function of banks – differs across models. This paper attempts to disentangle the different meanings of the term ‘liquidity insurance’ in the literature and to clarify what kind of insurance banks provide in which models. The paper also shows under which conditions banking is equivalent to eliminating uncertainty about liquidity needs or letting households trade with each other in an asset market. Special attention is given to the comparison of banking models in the tradition of Diamond and Dybvig (1983) with those based on monetary (notably New Monetarist)
Read More »2024-02-26 – Data portal – Important monetary policy data, 26 February 2024
22 days ago[unable to retrieve full-text content]
Read More »2024-02-23 – Press release – Results of the Payment Methods Survey of Companies in Switzerland 2023
25 days ago[unable to retrieve full-text content]
Read More »2024-02-21 – Data portal – Monthly banking statistics, February 2024
27 days ago[unable to retrieve full-text content]
Read More »2024-02-21 – Data portal – Economic data, February 2024
27 days ago[unable to retrieve full-text content]
Read More »2024-02-19 – Data portal – Important monetary policy data, 19 February 2024
29 days ago[unable to retrieve full-text content]
Read More »2024-02-16 – Press release – Kristin J. Forbes to hold the 2024 Karl Brunner Distinguished Lecture
February 16, 2024[unable to retrieve full-text content]
Read More »2024-02-14 – Data portal – IMF SDDS Plus, 14 February 2024
February 14, 2024[unable to retrieve full-text content]
Read More »WP – 2024-02-13 – Elizabeth Steiner: The impact of exchange rate fluctuations on markups – firm-level evidence for Switzerland
February 13, 2024This paper estimates the impact of exchange rate fluctuations on markups. Firm-level markups are estimated for a comprehensive panel of Swiss manufacturing firms for the period 2012-2017 using a production-function approach. The pass-through of the exchange rate is then estimated using an event-study design exploiting the large, sudden and persistent appreciation of the Swiss franc against the euro in January 2015. The results show that following an appreciation, Swiss manufacturing firms adjust their markup very heterogeneously. Large firms, especially those that invoice in foreign currency or are highly profitable, substantially decrease their markup. Owing to their sheer size, large firms shape the aggregate response. In contrast, the average firm does not respond
Read More »2024-02-12 – Data portal – Important monetary policy data, 12 February 2024
February 12, 2024[unable to retrieve full-text content]
Read More »2024-02-07 – Data portal – IMF SDDS Plus, 7 February 2024
February 7, 2024[unable to retrieve full-text content]
Read More »2024-02-07 – Data portal – Exchange rate indices, February 2024
February 7, 2024[unable to retrieve full-text content]
Read More »2024-02-05 – Data portal – Important monetary policy data, 5 February 2024
February 5, 2024[unable to retrieve full-text content]
Read More »WP – 2024-02-05 – Matthias Burgert, Johannes Eugster and Victoria Otten: The interest rate sensitivity of house prices: international evidence on its state dependence
February 5, 2024Keywords
House prices,
Interest rates,
Local projection,
Smooth transition function
This paper investigates how house prices have historically responded to interest rates and how their reaction has depended on preexisting conditions. We identify exogenous variations in short-term interest rates for 29 OECD countries relying on international spillovers from US monetary policy. Our results suggest that the average house price reaction is larger and more protracted than most of the previous estimates suggest. Amplitude and speed, however, depend considerably on the specific context. The reaction of house prices is larger and faster when interest rates are low, when their increase
Read More »2024-02-01 – Data portal – Interest rates and exchange rates, February 2024
February 1, 2024[unable to retrieve full-text content]
Read More »2024-01-31 – Data portal – Swiss Financial Accounts, Q3 2023
January 31, 2024[unable to retrieve full-text content]
Read More »2024-01-31 – Data portal – SNB balance sheet items end of December 2023
January 31, 2024[unable to retrieve full-text content]
Read More »2024-01-31 – Data portal – IMF SDDS Plus, 31 January 2024
January 31, 2024[unable to retrieve full-text content]
Read More »2024-01-29 – Data portal – Important monetary policy data, 29 January 2024
January 29, 2024[unable to retrieve full-text content]
Read More »