The main objective of this paper is to study the performance of exchange rate regimes on international trade during crisis episodes. To that end, a gravity equation is estimated for a sample of 194 countries over the period 1970-2011, by adding a set of regressors built from a de facto...

In the winter 2011/12 a wave of internal capital flight prompted the ECB to abandon its exit strategy and to announce an unprecedented monetary expansion. We analyze this episode in several dimensions: (i) by providing an event-study analysis covering key variables from national central banks'...