Le Royaume-Uni et la zone euro presentent des differences structurelles importantes concernant la nature des financements, la flexibilite du marche, la taille relative de l'industrie et des services. Ces differences jouent un rôle, d'une part dans le choix de la meilleure parite d'entree pour...

We build a theoretical model describing the behaviour of banks, of households, of firms, and trying to reproduce the recent evolutions in Japan, to analyse how the authorities must react when credit-rationing occurs as a consequence of the insufficient level of bank capital, and when, moreover,...