This book describes the remarkable path which led to the Swiss
Franc becoming the strong international currency that it is today.
Ernst Baltensperger and Peter Kugler use Swiss monetary history to
provide valuable insights into a number of issues concerning the
organization and development of monetary institutions and currency
that shaped the structure of financial markets and affected the
economic course of a country in important ways. They investigate a
number of topics, including the functioning of a world without a
central bank, the role of competition and monopoly in money and
banking, the functioning of monetary unions, monetary policy of
small open economies under fixed and flexible exchange rates, the
stability of money demand and supply under different monetary
regimes, and the monetary and macroeconomic effects of Swiss
Banking and Finance. Swiss Monetary History since the Early 19th
Century illustrates the value of monetary history for understanding
financial markets and macroeconomics today.
General
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