The paper investigates the potential effects of the exchange rate regime on the conditional volatilities and international correlations on bond and stock markets. The analysis is essentially empirical. It focuses on the recent experience of the EMS, and examines the behavior of domestic daily...

The paper explores the inflationary implications of exchange rate regime reforms in a small open economy model combining the public finance view of inflation with multiple exchange markets. To account for the experience of many developing countries, the analysis focuses on transitions to...

Dans notre étude conjoncturelle d’octobre 2007, nous évoquions une détérioration des perspectives économiques pour 2008 en raison de l’apparition de plusieurs facteurs de freinage au niveau belge et international. Depuis octobre, les conditions économiques se sont encore un peu...

Commodity price booms, as those recorded in the last decade, may have a significant economic impact in small, commodity exporting, developing countries. Whether the impact on output is positive or negative is still unclear. It depends on various factors, notably on the impact that commodity...