OECD's periodic survey of the Swiss economy. This edition includes chapters on getting out of the crisis, monetary policy, systemic risks from large financial institutions, lowering the high cost of housing and construction, and raising education outcomes.
Table of contents:
Executive summary Assessment and recommendations Chapter 1. Getting out of the crisis -The recession in Switzerland is less deep than in main trading partners -The crisis may have a long-lasting impact on the Swiss economy -Macro-policy appropriately supported the economy but the timing of the exit strategy remains delicate -Productivity performance remains disappointing -Annex 1.A1. Progress in structural reform Chapter 2. Swiss monetary policy in the current crisis and beyond -The SNB has effectively supported financial stability and economic activity -The international role of the large Swiss banks and of the Swiss franc influence policy making Chapter 3. Containing the systemic risks from exceptionally large financial institutions -Origins of the Swiss financial crisis and its repercussions -Weakness in internal controls was a contributor but not the fundamental cause of the write downs -Bolstering prudential standards to help contain systemic risk -Strengthening the supervisory framework and institutions -Strengthening cross-border arrangements for crisis prevention and management Chapter 4. Lowering the high cost of housing and construction -The high level of rents is partially explained by construction costs -Tenant protection is also a factor explaining the high level of rent -Deregulation in the housing sector could help reduce rental and construction costs Chapter 5. Raising education outcomes -Education outcomes -Reforms to raise education outcomes -Annex 5.A1. The education system in Switzerland -Annex 5.A2. Education attainment and firm productivity
