Table 1 Decomposition of Swiss Money Supply, 1922–1936
From: The limits of internal devaluation: Switzerland during the great depression
Year | M1 | \(\frac{M1}{BASE}\) | \(\frac{BASE}{RES}\) | \(\frac{RES}{GOLD}\) | PGOLD | QGOLD | \(\frac{RES}{BASE}\) |
|---|---|---|---|---|---|---|---|
1922 | 2395 | 2.10 | 1.60 | 1.12 | 3.44 | 186.00 | 0.62 |
1923 | 2327 | 2.14 | 1.50 | 1.15 | 3.44 | 182.76 | 0.66 |
1924 | 2285 | 2.21 | 1.31 | 1.33 | 3.44 | 172.63 | 0.76 |
1925 | 2411 | 2.41 | 1.29 | 1.40 | 3.44 | 161.95 | 0.78 |
1926 | 2538 | 2.51 | 1.32 | 1.41 | 3.44 | 158.51 | 0.76 |
1927 | 2652 | 2.48 | 1.38 | 1.34 | 3.44 | 168.79 | 0.73 |
1928 | 2792 | 2.43 | 1.37 | 1.45 | 3.44 | 168.48 | 0.73 |
1929 | 3122 | 2.60 | 1.22 | 1.59 | 3.44 | 180.04 | 0.82 |
1930 | 3232 | 2.48 | 1.22 | 1.50 | 3.44 | 207.51 | 0.82 |
1931 | 4006 | 1.56 | 1.05 | 1.05 | 3.44 | 683.12 | 0.95 |
1932 | 4066 | 1.53 | 1.04 | 1.04 | 3.44 | 719.30 | 0.97 |
1933 | 3675 | 1.68 | 1.09 | 1.01 | 3.44 | 581.59 | 0.92 |
1934 | 3439 | 1.67 | 1.08 | 1.00 | 3.44 | 555.89 | 0.93 |
1935 | 3136 | 1.79 | 1.25 | 1.01 | 3.44 | 404.24 | 0.80 |
1936 | 3934 | 1.41 | 1.01 | 1.02 | 3.44 | 788.52 | 0.99 |