The recent financial crisis renewed concerns about a possible destabilizing impact of derivatives trading. Despite a very active research, the question whether or not derivatives tend to destabilize financial markets has not yet been answered to satisfaction. This contribution aims to revise the...

Montre en quel sens la mondialisation s'est accompagnée d'une augmentation considérable de la quantité de risques financiers, ce qui a été l'élément déterminant du déclenchement de la crise de septembre 2008.

This paper develops a model of exchange rate dynamics that takes into account positions in foreign and domestic equities in addition to “standard” short-term riskless securities. The modeling of cross-country stock holdings is motivated by evidence that a large and ever-increasing proportion...

Pour faire en sorte que le progrès social ne reste pas en panne, la politique doit imposer sa loi aux marchés financiers même si ceux-ci sont indispensables au fonctionnement de l'économie française en aidant à répartir la masse des risques. L'échec de la gauche en France s'explique...

The relationships among the Mexico EMBI+ and local and foreign risk factors are examined in this paper. The long run relationships and the dynamics are analyzed taking in account the effects of economic slowdowns into the period of the study. Also the volatilities of EMBI+, domestic interest...