Business Cycles in Switzerland
Given its political neutrality stance and strategic geographic location, Switzerland plays an important role in both the political and economic stages in Europe. To maintain its sovereignty and neutrality, Switzerland has not joined the European Economic Community and the European Union.1 Despite its political neutrality, Switzerland has close economic ties with member countries of the European Union. As a non-member country of the major economic organizations in Europe, Switzerland has incurred substantial economic costs. For instance, Switzerland has to negotiate as a single country with the European Union on tariff and non-tariff barriers.2 Given the significant difference in market sizes, Switzerland’s bargaining power is essentially weak.
KeywordsEurope Income OECD
Unable to display preview. Download preview PDF.
- Anderson, T. W. (1958), An Introduction in Multivariate Statistical Analysis. New York: Wiley.Google Scholar
- Bacchetta, P. and W. Wasserfallen (1997), Economic Policy in Switzerland. New York: St. Martin’s Press, Inc.Google Scholar
- Bretschger, L. (1989), “Regimeabhaengige Konjunkturdynamik in einer offenen Volkswirtschaft: das Beispiel der Schweiz,” Swiss Journal of Economics and Statistics, 125: 309–27.Google Scholar
- Cheung, Y.-W. and F. Westermann (2000), “Does Austria Respond to the German or the United States Business Cycle?” International Journal of Finance and Economics, forthcoming.Google Scholar
- Engle, R. F. and S. Kozicki (1993), “Testing for Common Features,” Journal of Business and Economics Statistics, 11: 369–79.Google Scholar
- Genberg, H. and U. Kohli (1997), “Recent Developments in Swiss Monetary Policy,” in Economic Policy in Switzerland, P. Bacchetta and W. Wasserfallen, eds. New York: St. Martin’s Press, Inc.Google Scholar
- Genberg, H. and A.K. Swoboda (1985), “Internal and External Factors in the Swiss Business Cycle: 1964–1981,” Aussenwirtschaft, 40: 275–95.Google Scholar
- Giavazzi, F. and A. Giovannini (1989), Limiting Exchange Rate Flexibility - The European Monetary System. Cambridge: MIT Press.Google Scholar
- Marinell, G. (1995), Multivariate Verfahren. Oldenbourg: Muenchen.Google Scholar
- Vahid, F. and R. F. Engle (1993), “Common Shocks and Common Cycles,” Journal of Applied Econometrics, 8: 341–60.Google Scholar