Switzerland: Selected Issues

International Monetary Fund

No 2003/149, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper takes a close look at the proximate determinants and short-term dynamics of inflation in Switzerland. It identifies salient features of the inflation experience in Switzerland. The paper uses a wage-price model to gauge the sensitivity of inflation to the business cycle and the exchange rate. The findings suggest that underlying inflation of about 1 percent reflects a slightly higher rate for domestic goods and services and low increases in prices of imported goods.

Keywords: ISCR; CR; price; monetary policy; inflation expectation; goods inflation; widening output gap; target inflation; low-inflation record; inflation-control target range; Inflation; Price stabilization; Exchange rates; Output gap; Short term interest rates; Global (search for similar items in EconPapers)
Pages: 52
Date: 2003-06-02
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