Posts Tagged ‘Switzerland’

Cross-country Exposures to the Swiss Franc

This is joint work with Philip Lane published as a book chapter in International Currency Exposure, Edited by Yin-Wong Cheung and Frank Westermann MIT Press, 2017.

Abstract: This paper first documents the foreign currency exposures of Switzerland in the 2002-2012 period. We find that the large scale of the Swiss international balance sheet means that movements in the Swiss Franc generate large cross-border valuation effects. Second, we examine the Swiss Franc holdings of the rest of the world and highlight differences in exposures between advanced and emerging economies.