A fall in house prices due to a change in fundamental value redistributes wealth from those long housing (for whom the fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing services) to those short housing. In a closed economy...

Compte rendu d’une conférence internationale, organisée en avril 2006 par la Banque de France et la Banque du Canada, visant à comparer les quantifications et diagnostics concernant les écarts de croissance de la productivité et du PIB potentiel des pays industrialisés.

The macromodel estimates the short and medium-term economic implications of the internal policies and the international environment. This version of the Romanian macromodel incorporates the experience accumulated through the utilisation of its previous forms - either experimental (tested during...

Proceedings of an international workshop organised jointly by the Banque de France and the Bank of Canada and aimed at comparing the measures and assessments of productivity and potential output growth differentials between industrialised countries.

In this article the author recounts some fond memories of Franco Modigliani. For depth, breadth, originality and human wisdom, Modigliani gained in the ranking of scholars, the highest place of the twentieth century. Great Italian, great American economist, Franco was also one of the leading...

In this article the author recounts some fond memories of Franco Modigliani. For depth, breadth, originality and Modigliani human wisdom gained in the ranking of scholars, the highest place of the twentieth century. Great Italian, great American economist, Franco was also one of the leading...

In this article the author recounts some fond memories of Franco Modigliani. For depth, breadth, originality and Modigliani human wisdom gained in the ranking of scholars, the highest place of the twentieth century. Great Italian, great American economist, Franco was also one of the leading...

DSGE models have now reached a point where they can and do serve an important role in the monetary policy process. From the standpoint of real-world policymaking, however, there remain important areas of omission and coarse approximation in these models. I argue that macroeconomics should follow...

This research has the primal objective of forecasting the viability of Poland as a present member of European Union taking a step further and joining the inner circle by adopting euro as its currency. A study about short and long term implications of this decision on the country’s economic...

Nach der Stagnation im Winterhalbjahr 2011/2012 ist die deutsche Wirtschaft wieder auf Wachstumskurs. Die weltwirtschaftlichen Perspektiven, die sich im vergangenen Jahr infolge der möglichen Beeinträchtigungen durch die Staatsschuldenkrisen merklich verschlechterten, haben sich wieder...