Switzerland: Selected Issues Paper
May 26, 2011
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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.
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
Keywords: auditing power, CR, department II, exchange rate pass-through, Exchange rates, Exports, Financial sector stability, FINMA Board, FINMA vis-à-vis, Global, information gathering power, ISCR, Legal support in revenue administration, SNB work, supervision, Systemic risk
Pages:
43
Volume:
2011
DOI:
Issue:
116
Series:
Country Report No. 2011/116
Stock No:
1CHEEA2011002
ISBN:
9781455284610
ISSN:
1934-7685
