The paper investigates if the most popular alternative to the purchasing parity power approach (PPP) to estimate equilibrium exchange rates, the fundamental equilibrium exchange rate (FEER) influences exchange rate dynamics in the long run. For a large panel of industrialized and emerging...

We analyze, in a unified theoretical framework, the two main models for equilibrium exchange rate, namely, the BEER and the FEER approaches. In order to understand the interactions between them, we study in detail the temporal links between these two measures. Our results show that, in average,...

Since the mid-1990s, we observe an increase of world current account imbalances. These imbalances have only been partially reduced since the burst of the crisis in 2007. They reflect, to some extent, exchange rate misalignments, an issue which has been frequently studied in the literature....

French Abstract: La crise de la zone euro illustre les carences des mécanismes d'ajustements dans une union monétaire caractérisée par une forte hétérogénéité. Cette situation reflète un diagnostic simple. Au niveau de l'ensemble de la zone, l'euro est proche de son taux d'équilibre....

The article examines the sensibility of economic growth to macroeconomic volatility, and the impact of financial development on volatility for a sample of 85 countries and OECD countries over two periods covering 1975 to 2006. In that purpose, we implented nonstationary panel techniques that...

One observes a tendency to the increase in the middle class whatever the criterion of membership adopted. However the criteria of membership of the middle class are far from achieving the unanimity in the economists and the importance of the middle class varies according to authors'. With a...

The literature on exchange rate misalignments is very extensive as well as the literature on exchange rate determinants. To our knowledge, however, no study has analyzed the determinants of exchange rate misalignments. As huge capital inflows have been pouring into emerging countries since the...

This article is about the heterogeneity of "emerging economies" and their different development processes, followed by the analysis of the new international division of labor emerging with their boom, the strong growth and the rapid pace of industrialization of several Asian countries, the...

This article analyses the distributional impact of remittances across two regions of Algerian emigration (Nedroma and Idjeur) using an original survey we conducted of 1,200 households in 2011. Remittances and especially the role played by foreign pensions decrease the Gini index by nearly 4 %...

Cet article analyse les impacts de l'introduction de frais d'inscription à l'Université Paris 9 Dauphine sur les parcours des étudiants recrutés par cette université. Les données que nous utilisons sont issues de la base de données SISE qui recense de manière exhaustive les inscriptions...