IMF Staff Country Reports

Switzerland: Selected Issues Paper

Publication Date:

May 26, 2011

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Country Report No. 2011/116

Subject:

Exchange rates Exports Financial sector policy and analysis Financial sector stability Foreign exchange International trade Legal support in revenue administration Revenue administration Systemic risk