Does the center country of the International Monetary System enjoy an “exorbitant privilege” that significantly weakens its external constraint as has been asserted in some European quarters? Using a newly constructed dataset, we perform a detailed analysis of the historical evolution of US...

We analyze the interaction of economic and political determinants of free trade agreements (FTA). In addition to standard trade gains, FTAs can promote peaceful relations by offering a political forum and by increasing the opportunity cost of conflicts that disrupt trade. If policy makers...

This paper analyzes the determinants of cross-border asset holdings on cross-country data and a Swedish data set. We focus our analysis on the effect of the euro not only for the determinants of bond holdings, but also of equity and banking assets. With the help of a simple theoretical model, we...

This paper analyses theoretically and empirically the relationship between trade and war. We show that the intuition that trade promotes peace is only partially true even in a model where trade is beneficial to all, war reduces trade and leaders take into account the costs of war. When war can...

Le commerce international n'est pas toujours un facteur de pacification des relations entre les pays. Certes, si deux pays commercent davantage de manière bilatérale, ils sont plus fortement incités à résoudre pacifiquement le conflit qui peut les opposer. Mais s'ils commercent davantage...

Le 12 juillet 2005, le gouvernement a labellisé 67 « pôles de compétitivité » ou clusters. Ils sont aujourd'hui au nombre de 71. La politique d'aménagement du territoire est passée d'une intervention publique destinée à aider les régions en difficulté à une politique visant à...