This paper analyzes the feasibility of a monetary union in East Asia focusing on business cycles synchronization. Considering the critical role of trade integration in the East Asian integration process, we study whether East Asian countries are characterized by business cycle synchronization....

This paper studies the choice of the exchange rate regime in emerging and developing countries. Our model extends the approach proposed by Aizenman and Hausmann [2001] in order to introduce the main determinants of the exchange rate regime choice. The model is tested with a multinomial logit...

[fre] Pour analyser les structures de gouvernement potentielles entre les banques et les entreprises, les auteurs étudient la pertinence du concept de quasi-intégration pour caractériser la relation banque-entreprise. Trois formes pures de gouvernement banque-entreprise sont ainsi mises en...

[fre] Depuis la fin des années 1980, les économies émergentes ont amorcé un processus de libéralisation financière qui s'effectue dans un contexte d'accroissement significatif du nombre de crises bancaires. Ces dernières montrent notamment l'importance de la prise en compte du cadre...

[eng] Speculative attacks and credibility of exchange rate regime: what policy-mix trade-off?. . Since the Asian and Brazilian exchange rate crises have occurred, the reaction of authorities has been the subject of an intense debate. Indeed, coping with a speculative attack, domestic authorities...

To investigate the dynamic effect of external shocks on an oil exporting economy, we estimate, using Bayesian approach, a DSGE model based on the features of the Algerian economy. The main purpose is to investigate the dynamic effect of four external shocks (oil price shock, USD/EUR exchange...

In this paper, we examine the relative importance of external shocks in domestic fluctuations of East Asian countries and check if these shocks lead to asymmetric or symmetric reactions between the considered economies. To this end, we estimate, over the period 1990.1-2010.4, a structural VAR...

This paper analyses the feasibility of a monetary union within the Mercosur, focusing on cycle synchronicity. Three questions are addressed, concerning respectively the features of shocks hitting each member, the impact of exchange rate regime differences on countries’ responses and the share...

The paper analyzes the differences in managing exchange rate fluctuations in an inflation-targeting monetary framework in the case of (former) transition economies. Differences in managing the exchange rate fluctuations are identified according to the extent of managing as hard (dirty) versus...