The literature on currency crisis has generally not answered to the following question: which economic policies may reduce the contagion effects of a speculative shock? We use a dynamic Mundell-Fleming model extended to four countries and compute three time-consistent equilibria: a Nash...

Stability-oriented European institutions correspond to the general prescriptions of the ‘new macroeconomics consensus’. This contribution provides an assessment of the pros and cons of these institutions in terms of macro stabilisation and exchange-rate swings drawing on different scenarios....

The literature on currency crisis has generally not answered to the following question: which economic policies may reduce the contagion effects of a speculative shock? We use a dynamic Mundell-Fleming model extended to four countries and compute three time-consistent equilibria: a Nash...

Cet article etudie dans un cadre dynamique le conflit entre l'Etat et la banque centrale selon le regime de change et les criteres de convergence tel le ratio dette publique/PIB. La methode consiste a calculer des equilibres de Nash parfaits et a modeliser les coordinations internes et externes...

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