[fre] Asymétries financières et transmission de la politique monétaire en Europe par Virginie Coudert et Benoît Mojon . Dans la perspective d'une politique monétaire unique en Europe, il est essentiel de savoir si une même politique monétaire a un impact similaire sur les économies...

We define “safe haven currencies” as those able to yield positive excess returns during crises and show that they are likely to have negative risk premia on the long-run. We try to identify them empirically by considering a sample of 26 currencies from advanced and emerging countries over a...

In spite of completely pegged parities inside the euro area, real effective exchange rates have continued to evolve differently across member countries due to inflation discrepancies. In this paper, we assess real exchange rate misalignments for the euro area countries over the period 1980-2010...

Pegged exchange rates are often pointed out as more prone to risk of overvaluation, because their real exchange rates have a tendency to appreciate. We check this assumption empirically over a large sample of emerging and developing countries, by using two databases for <i>de facto</i> classifications...