TY - RPRT A1 - Stadtmann, Georg A1 - Kämpf, Vanessa A1 - Zimmermann, Lilli T1 - Swiss National Bank: Is the recent loss a threat to monetary policy? N2 - The Swiss National Bank (SNB) announced to refrain from profit distribution in 2022 owing to the accumulation of a huge loss. We examine the key determinants of the SNB's loss and shed light on the implications to conduct monetary policy. N2 - Die Schweizerische Nationalbank (SNB) hat angekündigt, im Jahr 2022 auf eine Gewinnausschüttung zu verzichten, da ein zu hoher Verlust entstanden ist. Wir untersuchen die wichtigsten Determinanten für den Verlust der SNB und beleuchten die Auswirkungen auf die Geldpolitik. T3 - Discussion papers of the Faculty of Business Administration and Economics - 429 KW - Swiss National Bank KW - central bank KW - monetary policy KW - intervention KW - Schweizerische Nationalbank KW - Zentralbank KW - Geldpolitik KW - Interventionen Y1 - 2023 U6 - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:kobv:521-opus4-12956 ER - TY - RPRT A1 - Stadtmann, Georg A1 - Russnak, Jan A1 - Zimmermann, Lilli T1 - Does Okun's law suffer from COVID-19? Evidence from Europe and the US - A Research Note N2 - We analyse the effect of COVID-19 on the Okun's law relationship for several EU countries and the US. Results are based on regressions and a systematic DF-Beta analysis. Our results indicate that the year 2020 is an outlier in the Okun relationship. However, the direction of change is different in the European countries compared to the US. T3 - Discussion papers of the Faculty of Business Administration and Economics - 428 KW - Okun's law KW - Covid-19 KW - Outliers Y1 - 2023 U6 - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:kobv:521-opus4-12945 ER -