Recent studies on general equilibrium models with transaction costs show that the dynamics of the real exchange rate are necessarily nonlinear. Our contribution to the literature on nonlinear price adjustment mechanisms is threefold. First, we model the real exchange rate by a Multi-Regime...

[eng] Linearity Tests and Threshold Model Specification and Estimation : a Comparative Analysis of the Tsay and Hansen Methods . by Mélika Ben Salem and Corinne Perraudin . This paper empirically studies threshold models and their application to time series. Threshold models are distinct in...

This paper explores the existence of a bounce-back effect in inventory investment using the European Community opinion survey on stocks of finished products in manufacturing. A threshold autoregression allowing for a transitory strong recovery phasis is estimated for French, German and European...

This paper proposes an empirical exploration of the possible asymmetric nature of the preferences of central bankers, with respect to inflation and output targets. The idea underlying this work lies in the widespread belief that central bankers interventions - through changes in a short-term...

[fre] Relations causales entre les dépenses militaires et leur environnement macro-économique : tests partiels pour la France et les États-Unis, . par Jean-François Jacques et Emmanuel Picavet.. . Cet article présente les résultats de tests de causalité (au sens de Granger) conduits dans...

Most of the international environmental agreements that have been signed in the past to resolve transboundary pollution problems appear constrained in the sense that either monetary transfers accompany uniform abatement standards (agreements based on a uniform standard with monetary transfers),...

The purpose of this paper is to explain why low-wage workers with identical qualifications to higher-wage workers are more exposed to unemployment. Each worker is considered to belong to a social group (defined according to his/her gender, age, and nationality). We assume that workers experience...