Kugler, Peter and Sheldon, George. (2010) Unemployment and monetary policy in Switzerland. Schweizerische Zeitschrift für Volkswirtschaft und Statistik, Vol. 146. pp. 185-208.
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Official URL: http://edoc.unibas.ch/dok/A5841603
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Abstract
This paper investigates the impact of the monetary policy change of the Swiss National Bank (SNB) in 1999 on the Swiss labor market on the basis of a Phillips relationship. Theoretical considerations as well as previous empirical work suggest that the SNB’s shift to a more inflation-targeted policy should have increased real-wage flexibility and lowered the NAIRU, the sacrifice ratio, and the level and persistence of inflation in Switzerland. Our results tend to confirm these expectations, although a number of the measured effects are not statistically significant.
| Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Arbeitsmarkt- und Industrieökonomie (Sheldon) |
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| UniBasel Contributors: | Sheldon, George and Kugler, Peter |
| Item Type: | Article, refereed |
| Article Subtype: | Research Article |
| Publisher: | Helbing und Lichtenhahn |
| ISSN: | 0303-9692 |
| Note: | Publication type according to Uni Basel Research Database: Journal article |
| Last Modified: | 14 Sep 2012 07:21 |
| Deposited On: | 14 Sep 2012 07:10 |
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