The Swiss National Bank and Seignorage

Thomas von Ungern-Sternberg

Cahiers de Recherches Economiques du Département d'économie from Université de Lausanne, Faculté des HEC, Département d’économie

Abstract: The purpose of this paper is to study the SNB's performance in managing Switzerland's seignorage wealth. The main conclusion is that the SNB has held an asset portfolio that was excessively liquid, not sufficiently hedged and not sifficiently diversified.

Keywords: seignorage; centralbanks; asset management; diversification (search for similar items in EconPapers)
JEL-codes: E58 (search for similar items in EconPapers)
Pages: 22 pages
Date: 1996-01
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Published in Revue Economique et Sociale, 1997, pp. 149-178; Published in German "Die Seigniorage-Gewinne der Schweizerischen Nationalkbank" in: Thomas von Ungern-Sternberg , Reformbedürftige Nationalbank- Neue Impulse für eine alte Institution, Verlag Rüegger, Zürich, 1998, pp. 15-40

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Persistent link: https://EconPapers.repec.org/RePEc:lau:crdeep:9601

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