Swiss experience in the 1980s evidences the ________.

Question

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The Swiss experience in the 1980s demonstrated the need for discretion in the face of structural changes in the economy. The country faced challenges in managing a fixed exchange rate system due to changes in the global economic landscape. The Swiss National Bank eventually shifted to a floating exchange rate system, which allowed for more flexibility in responding to economic changes. The effectiveness of targeting monetary aggregates and the value of fiscal policy over monetary policy were not necessarily evident from this experience, and flexible exchange rate regimes over fixed exchange rate systems were already gaining ascendancy at the time.

Swiss Experience in the 1980s Evidences the ________