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How have global shocks impacted the real effective exchange rates of individual euro area countries since the euro's creation?

Bussière, M.; Chudik, A.; Mehl, A. - Banque de France - 2011

This paper uncovers the response pattern to global shocks of euro area countries' real effective exchange rates before … and after the start of Economic and Monetary Union (EMU), a largely open ended question when the euro was created. We …-EMU responses of euro area countries to global risk aversion shocks have become similar to those of Italy, Portugal or Spain before …

Persistent link: https://www.econbiz.de/10009209806

Financial Regulation in General Equilibrium

Goodhart, Ch. A. E.; Kashyap, A. K.; Tsomocos, D. P.; … - Banque de France - 2012

This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a “shadow banking system” that each...

Persistent link: https://www.econbiz.de/10010815967

Optimal Price Setting During a Currency Changeover: Theory and Evidence from French Restaurants

Berardi, N.; Eife, T. A.; Gautier, E. - Banque de France - 2012

This paper studies firms' price-setting decision during a currency changeover. Buyers' difficulties with the new nominal price level create incentives to raise prices temporarily but doing so comes at the risk of damaging a seller's reputation in the long run. We model firms' trade-off and study...

Persistent link: https://www.econbiz.de/10010534896

La politique monétaire à l'heure du marché mondial des capitaux

Cailleteau, Pierre (ed.); Grunspan, Thierry (contributor) - 1998

Persistent link: https://www.econbiz.de/10000992488