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Table 1 Impact of sovereign money phase 1

From: The sovereign money initiative in Switzerland: an economic assessment

Annualized percentage of GDP
Positive interest rates Liquidity trap 1993–2006 Current period
SNB 0.79 0
Government − 0.08 0
State total 0.71 0
Depositors − 1.00 0
Banks − 0.15 0
Total − 0.44 0
  1. Notes: See text for a description. Does not include cost to borrowers, additional costs for the SNB, or regulation costs