The international consequences of the 1979 U.S. monetary policy switch: the case of Switzerland

Monetary policy - Switzerland

Swiss and United States monetary policy: has monetarism failed?

An abstract for this article is not availableMonetary policy ; Banks and banking, Central

Swiss and United States monetary policy: has monetarism failed?

An abstract for this article is not availableMonetary policy ; Banks and banking, Central

A review of the municipal bond market

An abstract for this article is not available.Bond market

Swiss monetary policy targeting 1974-1996: the role of internal policy analysis

After the switch to a floating exchange rate in 1973, the Swiss National Bank at first adopted annual monetary targets and in the 1990s shifted to a medium-term targeting strategy. In this paper I review the SNB's internal policy analysis, an aspect of Swiss monetary targeting that has received little attention in the existing literature. I show that money played a key role in setting monetary policy and in communicating the SNB's decisions to the public. Due to the adoption of monetary targets, the SNB was able to reduce the inflation trend to low levels. However, it was less successful in preserving price stability during business-cycle expansions because the monetary targets did not call for a sufficiently pre-emptive policy stance. At the end of 1999, the SNB abandoned monetary targeting in favour of an approach based on inflation forecasts

Response to Friedman

An abstract for this article is not available.Monetary policy

Empirical comparisons of credit and monetary aggregates using vector autoregressive methods

An abstract for this article is not available.Monetary policy

To what extent can headteachers be held to account in the practice of social justice leadership?

Internationally, leadership for social justice is gaining prominence as a global travelling theme. This article draws from the Scottish contribution to the International School Leadership Development Network (ISLDN) social justice strand and presents a case study of a relatively small education system similar in size to that of New Zealand, to explore one system's policy expectations and the practice realities of headteachers (principals) seeking to address issues around social justice. Scottish policy rhetoric places responsibility with headteachers to ensure socially just practices within their schools. However, those headteachers are working in schools located within unjust local, national and international contexts. The article explores briefly the emerging theoretical analyses of social justice and leadership. It then identifies the policy expectations, including those within the revised professional standards for headteachers in Scotland. The main focus is on the headteachers' perspectives of factors that help and hinder their practice of leadership for social justice. Macro systems-level data is used to contextualize equity and outcomes issues that headteachers are working to address. In the analysis of the dislocation between policy and reality, the article asks, 'to what extent can headteachers be held to account in the practice of social justice leadership?

A market for trading software issues

The security of software is becoming increasingly important. Open source software forms much of our digital infrastructure. It, however, contains vulnerabilities which have been exploited, attracted public attention, and caused large financial damages. This article proposes a solution to shortcomings in the current economic situation of open source software development. The main idea is to introduce price signals into the peer production of software. This is achieved through a trading market for futures contracts on the status of software issues. Users, who value secure software, gain the possibility to predict outcomes and incentivize work, strengthening collaboration and information sharing in open source software development. The design of such a trading market is discussed and a prototype introduced. The feasibility of the trading market design is corroborated in a proof-of-concept implementation and simulation. Preliminary results show that the implementation works and can be used for future experiments. Several directions for future research result from this article, which contributes to peer production, software development practices, and incentives design