G15

International Financial Markets

The Implementation of SNB Monetary Policy

JEL codes: 
G15
Keywords: 
Implementation of monetary policy; Libor; repo; Swiss franc money market; regime switching model.
Version Date: 
Jul 2009
Author/s: 
Thomas Jordan, Angelo Ranaldo, Paul Söderlind
Abstract: 

We use a regime-switching approach to model the implementation of SNB monetary policy. The regime-switching technique is crucial for assessing the exibility inherent in the SNB's monetary policy strategy.

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