Switzerland: Selected Issues Paper

International Monetary Fund

No 2011/116, IMF Staff Country Reports from International Monetary Fund

Abstract: The paper assesses the competitiveness of Swiss exporters, and shows that the effect of nominal exchange rate on trade balance depends on the degree of exchange rate pass-through and on trade elasticities. It highlights that the degree of exchange rate pass-through should also be factored in monetary policy decisions. The authorities are considering legislative changes to strengthen macroprudential oversight by supporting the mutual cooperation between Financial Market Supervisory Authority (FINMA) and Swiss National Bank (SNB) over the financial stability. The scope of the too-big-to-fail (TBTF) proposal should also be broadened to address systematic risk.

Keywords: ISCR; CR; FINMA Board; supervision; information gathering power; SNB work; exchange rate pass-through; department II; FINMA vis-à-vis; auditing power; Financial sector stability; Exports; Exchange rates; Legal support in revenue administration; Systemic risk; Global (search for similar items in EconPapers)
Pages: 43
Date: 2011-05-26
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Citations: View citations in EconPapers (2)

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