Swiss Journal of Economics and Statistics

Table 7 In this table, we summarize the OLS regression results for the best models from Tables 2, 3, 4, 5, 6 for each subperiod

From: Regime-dependent drivers of the EUR/CHF exchange rate

	Best models per subperiod
Dependent variable:	EUR/CHF	EUR/CHF	EUR/CHF	Latent	EUR/CHF
Subperiod	pre-crisis	crisis	peg	peg	post-peg
Constant	0.027	− 0.859***	− 0.060	− 0.101	0.025
	(0.762)	(0.001)	(0.455)	(0.823)	(0.847)
FCI					0.511***
					(0.00000)
CHFEUR1m			− 0.114***	− 0.582**
			(0.009)	(0.024)
CHFEUR30y					− 0.240**
					(0.012)
CHFUSD1m	− 0.150*
	(0.093)
CHFUSD10y2y		− 0.608***
		(0.004)
DAX	0.124**	− 0.918***		0.840
	(0.014)	(0.009)		(0.118)
SMI					− 0.285***
					(0.008)
VSMI		− 1.016***
		(0.00003)
Observations	93	43	38	38	70
\(R^{2}\)	0.060	0.257	0.042	0.097	0.269
Adjusted \(R^{2}\)	0.039	0.200	0.016	0.045	0.236

p values (in parentheses) and corresponding significance stars are based on Newey–West adjusted standard errors with 6 lags, where the lag order was determined based on a full-sample analysis
*\(p<0.1\); **\(p<0.05\); ***\(p<0.01\)

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