We conduct an empirical investigation of the determinants of the Swiss franc real exchange rate. Theory and related empirical papers suggest various specific factors as potential determinants. We select some of these factors, and test their significance and magnitude in affecting the course of...

In this paper I use a new keynesian model with nominal price rigidity to analyze the behaviour of the Swiss CPI. In the model nominal price rigidity arises because prices are costly to change for the firms (menu costs). The model shows that, when a supply shock or a sector-related demand shock...

We construct a quarterly time series for nominal hourly wages and unit labour costs from 1975 onwards and investigate the empirical link between wages and CPI inflation in order to identify causality effects and assess the relevance of wages as an indicator for short-run price changes. We find...

This paper focuses on Swiss GDP revisions and the uncertainty they generate from the point of view of monetary policy. After a description of the revisions features, we use GDP vintages to compute real-time output gaps using a production function approach. Then, with a nominal feedback rule, we...

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The purpose of this paper is to examine the media debates concerning ratification of the Treaty establishing a Constitution for Europe (TCE) from the perspective of public sphere research and in view of the decision by the 2007 Brussels European Council to initiate a new intergovernmental...