Many theoretical and empirical analyses have been put forward to explain currency crises, but this book is unique in providing an extensive perspective and a comprehensive view of the field. André Fourçans and Raphaël Franck assert that models concerning the outbreak and the propagation of...

We present and test a model of the Eurozone, with a special emphasis on the role of risk aversion and money. The model follows the New Keynesian DSGE framework, money being introduced in the utility function with a non-separability assumption. Money is also introduced in the Taylor rule. By...

We propose a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model where a risk aversion shock enters a separable utility function. We analyze five periods from 1971 through 2011, each lasting for 20years, to follow over time the dynamics of several parameters such as the risk...