Possible Effects of European Monetary Union on Switzerland : A Case Study of Policy Dilemmas Caused by Low Inflation and the Nominal Interest Rate Floor

A Case Study of Policy Dilemmas Caused by Low Inflation and the Nominal Interest Rate Floor

Possible Effects of European Monetary Union on Switzerland : A Case Study of Policy Dilemmas Caused by Low Inflation and the Nominal Interest Rate Floor
This paper examines the possible effects on Switzerland of asset preference shifts in favor of Swiss-franc-denominated assets that could result from EMU. Alternative policy responses to temporary and persistent asset preference shifts and the consequent pressures for exchange rate appreciation are examined. Simulations of a stylized... READ MORE...

Publication date: March 1997
ISBN 9781451844009
$15.00

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