Fig. 3
![Fig. 3](http://media.springernature.com/full/springer-static/image/art%3A10.1186%2Fs41937-020-00053-x/MediaObjects/41937_2020_53_Fig3_HTML.png)
Growth rates (percentage scale). Real GDP (https://www.seco.admin.ch/seco/de/home/wirtschaftslage---wirtschaftspolitik/Wirtschaftslage/bip-quartalsschaetzungen-/daten.html, as of March 3, 2020), quarterly frequency, and SNB business cycle index SNB bcindex, (https://data.snb.ch/de/topics/snb#!/chart/snbbcich, as of April 21, 2020), quarter average of monthly frequency. Gray bars highlight the dotcom and financial crises, the introduction, and discontinuation of the euro-Swiss franc floor