L’objet de cette étude est d’évaluer l’impact des décisions des agences de notation (modifications de notation de crédit et les mises sous surveillance de ces notations) sur le prix des actions. Nous concentrons notre étude sur le marché français et comparons nos résultats aux...

The purpose of this paper is to analyze the impact of the Bank of Japan's official interventions on the JPY/USD parity during the period 1992–2004. The novelty of our approach is to combine two recent advances of the empirical literature on foreign exchange interventions: (i) drawing on...

The purpose of this paper is to analyze the impact of the Bank of Japan's official interventions on the JPY/USD parity during the period 1992–2004. The novelty of our approach is to combine two recent advances of the empirical literature on foreign exchange interventions: (i) drawing on...

This study extends the traditional set of central bank's interventions to include official announcements in order to provide empirical evidence on two pivotal questions: (i) are FX authorities able to influence market expectations with different instruments? (ii) how should interventions be...

La presse financière et les praticiens de la finance font souvent référence à l'existence de barrière psychologiques sur les indices boursiers ou les taux de change. L'existence de telles barrières intéresse également la littérature académique car elle constitue a priori une violation...