During the COVID-19 pandemic, while the world economy suffered the worst crisis since the Great Depression, the response of stock markets has raised concerns. Several economists (including some Nobel laureates) have seen these reactions as evidence that stock markets are not fully efficient,...

We study the contribution of market regulations in the dynamics of the real exchange rate within the European Union. Based on a model proposed by De Gregorio et al. (1994a), we show that both product market regulations in nontradable sectors and employment protection tend to inflate the real...

We study the contribution of market regulations in the dynamics of the real exchange rate within the European Union. Based on a model proposed by De Gregorio et al. (1994a), we show that both product market regulations in nontradable sectors and employment protection tend to inflate the real...