Using the traditional herding measure of Lakonishok, Shleifer and Vishny (1992) (LSV) and the more recent measure of Frey, Herbst and Walter (2007) (FHW), we assess herding by French equity mutual funds between 1999 and 2005. We show that LSV herding amounts to 6.5%, while FHW herding is...

[eng] Lending rates and deposit rates in europe : a granger causaltty test. . In defence of maintaining administered deposit rates, the French monetary authorities often argue that deregulation would lead to higher deposit rates, and that financial intermediaries may then be tempted to raise...

[eng] We try and test the existence of a credit channel in France since the begining of financial deregulation. We analyse the influence of monetary policy on the spread between bank lending interest rates and money market rates ; moreover we study the predictive power of these spreads on the...

Strong differences as regards the price determination of exports can be seen in the euro zone. Some countries seem to use local pricing: they set their selling price in the purchaser?'s currency, so local-currency export prices are then very sensitive to exchange-rate fluctuations. Others on the...