One case study
James Stodder, December 2007
3 Analyses/working papers/articles
The Swiss complementary currency WIR is a classic example of monetary creation managed by economic agents lying outside the traditional banking system. When faced with tightening of credit or liquidity crises, Swiss small businesses increase their WIR transactions; when conditions improve, they return to the Swiss franc. This countercyclical effect illustrates the potential for parallel currencies to serve as tools for macroeconomic stability.
Wojtek Kalinowski, November 2011
Published by the WIR Bank, Basel. Title of German original: “WIR in unserer Volkswirtschaft”
Tobias Dr. Studer, 1998