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Switzerland’s Lusser: Price Stability to Bank On

  • George M. von Furstenberg
  • Michael K. Ulan
Chapter

Abstract

In Switzerland, as for instance in Austria and Poland, the central bank is known as the national bank. When Markus Lusser assumed the presidency of the Governing Board of the Swiss National Bank (SNB) in 1988, Switzerland had already compiled a record of low inflation for decades. However, Dr. Lusser added to the distinguished record of the SNB by further reducing reliance on regulatory and administrative mechanisms and protectionist devices in financial markets. His preference for market solutions and openness led him to confront special-interest arrangements and restrictions on foreign participation and on financial innovation, thereby consolidating Switzerland’s special status in the global financial marketplace.

Keywords

Exchange Rate European Union Monetary Policy Central Bank Real Exchange Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

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Copyright information

© Springer Science+Business Media New York 1998

Authors and Affiliations

  • George M. von Furstenberg
  • Michael K. Ulan

There are no affiliations available

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