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In this paper, we provide a theoretical framework for exploring the consequences of neighborhood informational effects - identified as role models - so as to deduce the urban configuration. With this aim, we have developed an overlapping generations model of community formation. When young, an...
Persistent link: https://www.econbiz.de/10005670859
Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries that have adopted it have successfully improved their monetary policy regime. The objective of this paper is to assess WAMZ member countries' readiness to adopt inflation...
Persistent link: https://www.econbiz.de/10014278241
While much attention has focused on the factors that brought about the so-called new economy, much less attention has been paid to optimal policy responses following the establishment of the new economy. In the third article, Gilbert Cette and Christian Pfister from the Bank of France provide...
Persistent link: https://www.econbiz.de/10005650259
Dans un modèle à deux pays où on considère le policy-mix en réponse à des chocs, on examine la question de savoir si le gain résultant de la coordination des politiques budgétaires entre pays est plus élevé en union monétaire qu'en change flexible. On montre tout d'abord que...
Persistent link: https://www.econbiz.de/10004985411
Depuis le lancement de l’euro, les économies de la zone euro ont connu des disparités persistantes et souvent croissantes. Ces disparités sont sources de tensions en Europe ; elles rendent difficile la mise en oeuvre de politiques économiques communes, tant structurelles que...
Persistent link: https://www.econbiz.de/10008575293
During the 90s, recurrent exchange rate crises in emerging markets have shown the extreme fragility of soft pegs, the so-called intermediate exchange rate regimes. As a result, numerous academic economists but also International institutions have promoted a new consensus: domestic authorities...
Persistent link: https://www.econbiz.de/10008554161
Les crises de change des années 90 se sont produites dans un contexte d'intégration financière internationale croissante. Elles ont relancé le débat relatif au choix du régime de change. Le triangle éternel de Krugman (1998) permet de comprendre les termes de ce débat. Ce triangle...
Persistent link: https://www.econbiz.de/10008788984
“risk transfer”. The second part examines financialisation from the point of view of the principle of liquidity by …
Persistent link: https://www.econbiz.de/10005007493
The recent rise of excess liquidity in the United States and in the euro zone did not result in a resurgence of … inflation. Excess liquidity, rather than heading towards the market of consumer goods, could have moved towards the asset … Kingdom and Japan, there's no element pointing out an effect of excess liquidity on asset prices: there is no common trend in …
Persistent link: https://www.econbiz.de/10005056539
The effect of leverage on liquidity is a tool for analysing the level of liquidity for a given production process. It … measures the sensitivity of the level of liquidity that results from changes in the volume of production and unit operating … flows from production influence liquidity levels. The estimated costs do not directly influence the level of liquidity …
Persistent link: https://www.econbiz.de/10008789411