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Temporal Dimension and Equilibrium Exchange Rate: a FEER / BEER Comparison

Lòpez-Villavicencio, Antonia; Mazier, Jacques; … - HAL - 2012

We analyze, in a unified theoretical framework, the two main models for equilibrium exchange rate, namely, the BEER and … these two measures. Our results show that, in average, the BEER and the FEER are closely related. Yet, important differences … real effective exchange rate, and so, between the FEER and the BEER. Our analysis puts forward the structural changes in …

Persistent link: https://www.econbiz.de/10009645460

On the inclusion of the Chinese renminbi in the SDR basket

Bénassy-Quéré, Agnès; Capelle, Damien - HAL - 2012

We study the impact of a broadening of the SDR basket to the Chinese currency on the composition and volatility of the basket. Although, in the past, RMB inclusion would have had negligible impact due to its limited weight, a much more significant impact can be expected in the next decades, and...

Persistent link: https://www.econbiz.de/10011025822

Are Southeast Asian Real Exchange Rates Mean Reverting?

Bec, Frédérique; Zeng, Songlin - HAL - 2012

Since the late nineties, both theoretical and empirical analysis devoted to the real exchange rate suggest that their dynamics might be well approximated by nonlinear models. This paper examines this possibility for post-1970 monthly ASEAN-5 data, extending the existing research in two...

Persistent link: https://www.econbiz.de/10010540567

Equilibrium on International Assets and Goods Markets

Fontaine, Patrice; Van, Cuong Le - HAL - 2010

Most of the international asset pricing models are developed in the situation where purchasing power parity (PPP) is not respected. Investors of different countries do not agree on expected security returns. However, in this case, an equilibrium on the international assets market may exist but...

Persistent link: https://www.econbiz.de/10010603675

The international transmission of monetary shocks in a dollarized economy: The case of USA and Lebanon

Goux, Jean-François; Cordahi, Charbel - HAL - 2007

We show that an American monetary shock wields an influence, though limited, over the Lebanese output in accordance with the literature advances. However, as we are waiting for a stronger transmission of U.S. short-term rates to Lebanese short-term rates, we notice that this transmission is weak...

Persistent link: https://www.econbiz.de/10008790871

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

Drine, Imed; Rault, Christophe - HAL - 2008

The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) 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...

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

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

Forecasting exchange rates better than the random walk thanks to machine learning techniques

Amat, Christophe; Michalski, Tomasz; Stoltz, Gilles - HAL - 2014

Using methods from machine learning - adaptive sequential ridge regression with discount factors - that prevent overfitting in-sample for better and more stable forecasting performance out-of-sample we show that fundamentals from the PPP, UIRP and monetary models consistently improve the...

Persistent link: https://www.econbiz.de/10010899931

Mediating the transitions to work : the role of employment and career advisers in comparative perspective

Darmon, Isabelle; Perez, Coralie; Wright, Sharon - HAL - 2010

Labour market and career advice and guidance have received considerable recent research and policy attention and have been heralded as part of the new institutional resources required in reformed, active, welfare states. We seek to understand the meaning of such policy enthusiasm by proposing an...

Persistent link: https://www.econbiz.de/10010549119

Analyzing and comparing Professional Service Firms over services, time and space. Proposition of a foundation framework

Gand, Sébastien - HAL - 2010

Research on professional service firms (PSFs) has been quickly developing over the last twenty years, especially emphasizing both PSFs' distinctiveness and their current challenges. Recent efforts by PSFs scholars have focused on the issue of understanding differences between PSfs regarding...

Persistent link: https://www.econbiz.de/10010553009

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