Year: 2015
Type: article
Abstract: Summary We conduct an empirical investigation of the determinants of the Swiss franc real exchange rate. Theory and related empirical papers suggest various specific factors as potential determinants We select some of these factors, and test their significance and magnitude in affecting the course of the CHF real exchange rate. Results stemming from a co-integration approach point to terms of trade and relative government spending as the most significant explanatory variables. Balassa-Samuelson effects do not play any significant role. Our results also confirm that this kind of empirical approach is sensitive to the choice of explanatory variables, panel countries and sample periods.
DOI: 10.1007/bf03399419
Authors: Tommaso Mancini Griffoli, Christoph Meyer, Jean-Marc Natal, Attilio Zanetti
Institutions: International Monetary Fund, Swiss National Bank
Language: English
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid:
OpenAlex ID: W98454296