This special issue of the Brussels Economic Review is dedicated to a selection ofpapers presented at the 2013 annual meeting of the European research group,GDRE (Groupement De Recherche Européen) Money, Banking and Finance. Thisinternational network, part of the CNRS (Centre National de la...

The aim of this paper is to analyze the impact that recent changes in companies strategies (they refocused on their basic activities and they internationalized them) can have on their market value. Through that analysis, we intend to establish a suitable logic that could be adapted to portfolio...

This paper first reviews the mainstream literature concerning the explanatory factors of fdis in the ceecs and specifically the exchange rate effects. We then present an empirical analysis of medium and long term exchange rate effects over the period 1995/2002, comparing us and eu investors...

This paper analyzes the impact of exchange rate variability on the economic specialization of European countries. Two theoretical approaches are used: the first one, advanced by Krugman (1991), underlines that the monetary integration is favouring the specialization of countries members of an...

Cet article analyse l'inertie de la politique monétaire à partir d'une approche privilégiant les préférences des banquiers centraux dans une logique de comportement bureaucratique, compte tenu des contraintes du cadre institutionnel de l'Eurosystème. L'hétérogénéité des conjonctures...

Impact of monetary policy on asset prices : lessons from a MIU model applied to the Fed Abstract -A tractable consumption-based and money-based asset pricing model is built to relate in closed form the risk premium, the risk free rate and the volatility of asset price to parameters of monetary...

RESUME:Un modèle d’évaluation des actifs financiers basé sur la consommation et la monnaie estdéveloppé pour mettre en évidence l’influence de la politique monétaire sur la prime de risque,le taux d’intérêt sans risque et la volatilité du prix des actions. Appliquée à la...

[eng] Political goals and institutional constraints in monetary policy making : an empirical application to the french case (1973.03 - 1993.12). This paper tries to evaluate the weight of political influences in French monetary policy choices for the period preceding the implementation of the...

[fre] Les assignats sous la Révolution française : un exemple d'hyperinflation . . La dépréciation rapide de l'assignat sous la Convention thermidorienne est expliquée en retenant le schéma de base de l'analyse monétaire de l'hyperinflation. Les résultats obtenus se révèlent...