The economic situation of all the major developed countries has changed significantly during the 2007-2010 period. Yet many economic policies have been kept in place. This is true in particular of a key measure in French government policy: tax reductions on overtime hours and their exemption...

In this paper, we aim to test the empirical validity of the QTM relationship for the Turkish economy. Using some contemporaneous time series estimation techniques, our estimation results reveal that stationarity characteristics of the velocities of currency in circulation and the broad money...

Tunisia has experienced a performance when pursuing a constant real exchange rate rule. The limitations of this rule are beginning to emerge in the context of a more open economy, which desire to relax capital controls. This paper estimates the equilibrium real exchange rate of the dinar vis...

L'absence de persistance dans la réponse de l'activité à un choc d'offre de monnaie constitue une propriété contrefactuelle récurrente des modèles d'équilibre général intertemporels stochastiques. On est alors tenté de combiner des imperfection fiancières et des rigidités de prix...

This paper proposes a full description of the Calvo price-setting model based on partial prices indexation and studies the interaction between partial indexation and trend inflation. We show that using a hybrid version of the Phillips curve partly decreases the risks of overestimate due to the...

This paper proposes a new empirical representation of inflation expectations errors in a Space-State Markov-Switching framework. We explicitly identify the dynamics of inflation expectation errors using the expectations augmented Markov-Switching Phillips curve as a measurement equation. In this...

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...