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The comparatively large magnitude of the losses of the two largest banks of Switzerland in relation to capital has underscored the systemic risks to the economy posed by the institutions’ size relative to Swiss GDP and their extensive cross-border and cross-currency activities.
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The global crisis will have a lasting impact on the Swiss economy. Despitethe recession, Switzerland has weathered the crisis better than otherOECD economies in part owing to exports in goods less sensitive to thebusiness cycle and resilient domestic credit markets, in part reflecting theabsence of a marked housing cycle. Swift intervention by the authorities tosupport the country’s largest bank also helped avoid an aggravation of
The Swiss National Bank took decisive action to support financial market stability and dampen the recession. In the current situation, the main challenge facing the SNB concerns the exit strategy.
The Swiss education system performs well in many important dimensions. Remaining challenges include raising education outcomes of children with modest socio-economic background. Removing barriers to higher tertiary attainment could also help raise productivity.
Renting accommodation in Switzerland is considerably more expensive than in other high income OECD countries.
Economic forecasts for GDP, unemployment, inflation and fiscal balance.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
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External links to: recent economic data; current interest rates and exchange rates; latest macroeconomic reports; current outlook and projections; government budget information; speeches; relevant sites.
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This note, taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2009, contains information about the progress in implementing reforms in line with the 2008 priorities for Switzerland.
This paper discusses measures to make the regulation of product markets more conducive to competition play a prominent role in the government’s “growth package” of measures to stimulate economic growth which are in the process of being implemented.