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This paper revisits the puzzle of low returns on Swiss Franc assets using a new data set of portfolio holdings of residents and non residents at Swiss banks. The main findings are as follows. First, we find that the return anomaly is present only for fixed income assets and not for equity....

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The application of the translog GNP function approach to Swiss data indicates that imported inputs seem to be the most important channel for technical change, whereas the production of exports and domestic sales does not seem to be strongly different with respect to the implementation of...