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Discontinuous Initial Value Problems for Funtional Differential-Algebraic Equations of Mixed Type

D'Albis, Hippolyte; Augeraud-Véron, Emmanuelle; … - HAL - 2012

discontinuity. We illustrate our techniques by analytically studying an economic model for the interplay between inflation and … interest rates. In particular, we investigate under which circumstances the central bank can prevent runaway inflation by …

Persistent link: https://www.econbiz.de/10010635139

To what extent do exchange rates and their volatility affect trade ?

Huchet-Bourdon, Maryline; Korinek, J. - HAL - 2011

Trade deficits and surpluses are sometimes attributed to intentionally low or high exchange rate levels. The impact of exchange rate levels on trade has been much debated but the large body of existing empirical literature does not suggest an unequivocally clear picture of the trade impacts of...

Persistent link: https://www.econbiz.de/10010899210

Detecting Mean Reversion in Real Exchange Rates from a Multiple Regime STAR Model

Bec, Frédérique; Bensalem, Mélika; Carrasco, Marine - HAL - 2010

Recent studies on general equilibrium models with transaction costs show that the dynamics of the real exchange rate are necessarily nonlinear. Our contribution to the literature on nonlinear price adjustment mechanisms is threefold. First, we model the real exchange rate by a Multi-Regime...

Persistent link: https://www.econbiz.de/10010899153

Purchasing Power Parity for developing and developed countries. What can we learn from non-stationary panel data models?

Drine, Imed; Rault, Christophe - HAL - 2008

regime doesn't condition the validity of PPP which is more easily accepted in countries with high than low inflation. …) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 … developed and developing countries. We find that strong PPP is verified for OECD countries and weak PPP for MENA countries …

Persistent link: https://www.econbiz.de/10008791812

Is the New Economy a Useful Concept ?

Paulré, Bernard - HAL - 2000

The present paper examines the meaning and usefulness of the concept of a New Economy. This construct, which first began to appear in the media in the mid-1990s, is utilised today with a variety of definitions and intentions. Having identified three possible denotations or orientations relating...

Persistent link: https://www.econbiz.de/10008793473

Macroeconomic trouble and policy challenges in the wake of the financial bust

Asensio, Angel - HAL - 2010

, unless a new assets bubble is allowed for. Authorities could therefore be facing high unemployment in a damaged context of … public deficits and inflationary pressures. The paper aims at discussing these new challenges. The inadequacy of inflation …

Persistent link: https://www.econbiz.de/10008794219

Financial market imperfections and the impact of exchange rate movements

Berman, Nicolas; Berthou, Antoine - HAL - 2006

This paper analyses empirically the role of financial market imperfections in the way countries' exports react to a currency depreciation. Using quarterly data for 27 developed and developing countries over the period 1990-2005, we find that the impact of a depreciation on exports will be less...

Persistent link: https://www.econbiz.de/10010750638