How is the Swiss economy coping with the CHF appreciation after the SNB's exít?
|Autor:||Bc. Roman Borufka|
|Rok:||2017 - letní|
|Vedoucí:|| doc. Mgr. Tomáš Holub Ph.D.
|Typ práce:|| Bakalářská
|Abstrakt:||The objective of this thesis is to describe the situation in the Swiss economy before
the SNB discontinued the minimum exchange rate. Furthermore, the aim is to analyse
the impact of the abandonment of the exchange rate floor on key macroeconomic
indicators such as GDP, year-on-year changes in consumer and producer prices or
unemployment rate. The interactions between CHF/EUR exchange rate and real
GDP, CPI and 3-month LIBOR are examined using VAR model on quarterly data
from 1999 to 2016. The results suggest that the CHF/EUR exchange rate appreciation
has temporary dampening effects on GDP, CPI and 3-month LIBOR. These
results are consistent with the developments in macroeconomic variables after the
discontinuation of the minimum exchange rate.