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Featured Article: On the rewards to international investing: a safe haven currency perspective


On the rewards to international investing: a safe haven currency perspective

The safe haven property of the Swiss franc presents a specific challenge for internationally minded Swiss-based investors. The central issue is whether the traditional under-performance of Swiss assets is made up by the secular appreciation of the Swiss franc combined with the propensity of the safe haven to strengthen in times of market stress. In this paper, Jean-Pierre Danthine and Samuel Danthine review the evidence on the terms of this challenge. They conclude that a Swiss bias in asset allocation can lead to considerable return shortfalls over the long run and that systematic currency hedging would not have been historically justified and is unlikely to be in the future.

Aims and scope

Founded in 1867, The Swiss Journal of Economics and Statistics (SJES) is a peer-reviewed journal which publishes theoretical and empirical contributions to any field of economics and reaches an international audience. Owned and financed by the Swiss Society of Economics and Statistics, SJES is committed to a high quality, efficient review process with a first round response time of typically less than two months. SJES particularly welcomes contributions from early-career researchers.

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Editor profiles

Editor-in-Chief: Rafael Lalive, University of Lausanne

Rafael LaliveRafael Lalive is Professor of Economics at the Faculty of Business and Economics of University of Lausanne. Rafael's work focuses on questions related to labor market policy, family policy, and social economics.


Co-Editor: Martin Brown, University of St. Gallen

Martin BrownMartin Brown is Full Professor of Banking at the University of St.Gallen. His research has focused on financial intermediation, household finance and organizational economics.



Co-Editor: Volker Grossmann, University of Fribourg

Volker GrossmannVolker Grossmann is Full Professor in the Department of Economics at the University of Fribourg. Volker's current research interests include: macroeconomics of housing; distribution of income and human capital formation. 


Co-Editor: Cédric Tille, Graduate Institute Geneva

Cédric TilleCédric Tille is Professor of Economics at the Graduate Institute Geneva. Cédric's current research focuses on international finance and macroeconomics.         

Swiss Journal of Economics and Statistics: Volumes 143 - 153

Articles published in Swiss Journal of Economics and Statistics between 2007 and 2017 are available to read online via Springer Link or by clicking on the "All volumes" option on the article page.

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Affiliated with

  •                Swiss Society of Economics and Statistics

    The Swiss Journal of Economics and Statistics is published in collaboration with the Swiss Society of Economics and Statistics. The journal is fully sponsored by the SSES so authors are not required to pay an article processing charge

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