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Table 3 Average propagation values over selected periods

From: Real-financial connectedness in the Swiss economy

Period

Dates

End of period

KOF

SMI

GSWISS10

USDCHF

(a) KOF barometer

1

Apr 99 - Mar 03

End of 02-03 recession

0.39

0.25

0.19

0.17

2

Apr 03 - Mar 09

End of 08-09 recession

0.17

0.35

0.28

0.20

3

Apr 09 - Aug 11

Shortly before SNB 2011*

0.31

0.29

0.27

0.13

4

Sep 11 - Dec 14

Shortly before SNB 2015*

0.20

0.36

0.23

0.21

5

Jan 15 - Mar 17

End of data

0.34

0.26

0.17

0.23

-

Apr 99 - Mar 17

End of data

0.27

0.31

0.24

0.19

(b) RAI

Period

Dates

End of period

RAI

SMI

GSWISS10

USDCHF

1

Apr 99 - Mar 03

End of 02-03 recession

0.23

0.36

0.28

0.13

2

Apr 03 - Mar 09

End of 08-09 recession

0.20

0.36

0.24

0.19

3

Apr 09 - Aug 11

Shortly before SNB 2011*

0.05

0.50

0.38

0.07

4

Sep 11 - Dec 14

Shortly before SNB 2015*

0.22

0.32

0.25

0.20

5

Jan 15 - Mar 17

End of data

0.22

0.29

0.20

0.29

-

Apr 99 - Mar 17

End of data

0.19

0.36

0.27

0.18

  1. *SNB 2011 and SNB 2015 refer to SNB’s 2011 and 2015 decisions, respectively