One of the most striking features of the crisis that started during the fall of 2008 has been the sharp decrease in the world volume of trade in goods. The collapse of trade values has been even larger, leading to a decrease of import price indices. We argue that the decrease of import price...

French Abstract: La crise de la zone euro illustre les carences des mécanismes d'ajustements dans une union monétaire caractérisée par une forte hétérogénéité. Cette situation reflète un diagnostic simple. Au niveau de l'ensemble de la zone, l'euro est proche de son taux d'équilibre....

Views in the economic literature on the main factors that influence exchange rates have evolved over time in response to economic developments and new trends in economic theory. This article provides a brief interpretative survey of the main theories of exchange rate determination. The factors...

L’île de La Réunion, région française ultrapériphérique, se caractérise par des performances économiques généralement en deçà de celles de la métropole, mais aussi de celles de partenaires commerciaux qui partagent nombre de caractéristiques communes. Le très fort déficit de la...

L’évolution des productions des industries de haute technologie montre un écart croissant, à partir de la seconde moitié des années 1990, entre la zone euro et les États-Unis, en faveur de ces derniers. En revanche, le niveau des exportations est quasiment identique actuellement. Le...

This study tests an international extension of the Asset Pricing Model (CAPM) based on the coexistence of two risk causes. The first cause is linked to the market portfolio and the second one is required by expectations about the variation of exchange rates. Through an application to various...

An Indirect Exporter is defined as a firm that sells its product to a trade intermediary in its own country, who then goes on to export the good. Despite the numerous appearances of these firms in recent theoretical models, there has been no empirical work comparing these firms to Domestic firms...