G2TT
来源类型Working Paper
规范类型工作论文
来源IDWorking Paper15-11
The Resilient Trade Surplus, the Pharmaceutical Sector, and Exchange Rate Assessments in Switzerland
Philip Saure (Swiss National Bank)
发表日期2015-07-01
出版年2015
语种英语
摘要

With its cost- and time-intensive research and development, the pharmaceutical sector can generate large trade imbalances. These imbalances may arise because investment and output occur in different years; they are sizable if pharmaceuticals account for a large and growing share of exports. Switzerland's recent trade surplus results from this effect, which also explains why the Swiss trade surplus is exceptionally resilient. The Swiss trade surplus is, therefore, a poor indicator for exchange rate assessments.

Data disclosure: The data underlying the figures in this analysis are available here [xlsx].

主题Europe & Central Asia ; Currency ; Health ; Trade Deficit
URLhttps://www.piie.com/publications/working-papers/resilient-trade-surplus-pharmaceutical-sector-and-exchange-rate
来源智库Peterson Institute for International Economics (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/454125
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GB/T 7714
Philip Saure . The Resilient Trade Surplus, the Pharmaceutical Sector, and Exchange Rate Assessments in Switzerland. 2015.
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