Search results for " moneta"
showing 10 items of 162 documents
Nowcasting Global Economic Growth: A Factor-Augmented Mixed-Frequency Approach
2014
Facing several economic and financial uncertainties, assessing accurately global economic conditions is a great challenge for economists. The International Monetary Fund proposes within its periodic World Economic Outlook report a measure of the global GDP annual growth, that is often considered as the benchmark nowcast by macroeconomists. In this paper, we put forward an alternative approach to provide monthly nowcasts of the annual global growth rate. Our approach builds on a Factor-Augmented MIxed DAta Sampling (FA-MIDAS) model that enables (i) to account for a large monthly database including various countries and sectors of the global economy and (ii) to nowcast a low-frequency macroec…
Las desvergüenzas del capitalismo
2008
Calcul des risques et rationalité dans la pensée de Cesare Beccaria
2000
International audience; Le traité de Beccaria Des délits et des peines fut publié entre avril et juillet 1764 au moment où paraissaient les premières feuilles du Café 1. Il est donc à peu près contemporain de l'essai d'analyse sur la contrebande que Beccaria rédigea pour le périodique de Pietro Verri. Cet article est assez peu commenté pour des raisons qui sont simples : il s'agit d'un texte bref (une page et demie) ; le sujet traité est une question technique (la méthode de fixation d'un tarif douanier). Beccaria enfin recourt aux mathématiques en utilisant des symboles et une forme de fonction qui ne sont pas ceux des manuels d'aujourd'hui 2. Pourtant l'article nous paraît typique de la r…
A Reconsideration of the Role of Forward-Market Arbitrage in Keynes’s and Hicks’s Theories of the Term Structure of Interest Rates
2014
International audience; This paper develops the relationship between Hicks’s and Keynes’s writings on the theory of the term structure of interest rates, and shows in detail how Hicks built on and extended Keynes’s account. According to this theory, the level of the long-term interest rate is determined by expectations of future short-term rates. Keynes’s thinking contained several notions – such as the preferred habitat of lenders, the theory of forward markets, and risk-premiums – which Hicks used to give a more complete theory of the term structure of interest rates. Besides implementing these notions in his own theory, Hicks introduced the concepts of the preferred habitat of borrowers,…
Export market integration in the European Union
2004
This paper examines the degree and recent evolution (1988-2001) of export-price dispersion among European Union countries. It also explores the effect of exchange rates on exportprice dispersion by reviewing the experience of some European countries that participated in the exchange rate stability zone. The results indicate that export-price dispersion across European Union countries was usually lower than across OECD countries. Moreover, although there is little evidence of convergence, this is stronger across European Union countries. Finally, even though price dispersion was often lower across European Union countries where exchange rates have been relatively stable than across countries…
Essays on current account imbalances
2017
Global current account imbalances and intra-euro area imbalances have been at the forefront of academic and policy debates for the last ten years. This thesis examines the determinants of current account balances and external adjustment. It consists of an introduction and four empirical studies. This thesis highlights the importance of institutional factors such as differences in national cultures and cross-country differences in the coordination of wage bargaining on external balances. The first study investigates the effects of deep determinants on current account balances. The point estimates are economically and statistically significant, suggesting that countries populated by Roman Cat…
Starptautiskā valūtas fonda ietekme uz finansējuma saņēmējvalsts demokrātiju
2020
Maģistra darbā Starptautiskā Valūtas fonda ietekme uz finansējuma saņēmējvalsts demokrātiju apskatīta Starptautiskā Valūtas fonda kondicionalitāte Nabadzības mazināšanas un izaugsmes trasta Paplašinātās kredītlīnijas programmā noslēgtajās vienošanās Subsahāras Āfrikas valstu gadījumā un analizēts izvēlēto valstu gadījumos iekļautā kondicionalitāte ietekmē demokrātiju. Maģistra darbā apskatīts termins kondicionalitāte, Starptautiskā Valūtas fonda vēsture un funkcijas, pievēršot pastiprinātu uzmanību aizdevumu programmām un kondicionalitātei, sekojoši tiek ieskicēta Subsahāras Āfrikas ekonomikas vēsture un mūsdienu izaicinājumi. Aprakstot Kotdivuāras, Kenijas un Malāvijas gadījumus, tiek snie…
RISKS OF DISREGARDING THE INCOMPATIBLE TRINITY RULE: THE SWISS FRANC CRISIS CASE
2015
When designing economic policies, governments must take account not only of economic laws but also of certain rules of thumb. The incompatible trinity is such rule, which states that a country cannot simultaneously have a fixed exchange rate regime, mobility of foreign capital and an independent monetary policy. Traditionally, the rule has been generally observed, whether knowingly or not. The recent crisis triggered by the removal of cap on the Swiss franc is an illustrative example of what might happen if the said rule is disregarded.
Dalla traditio pecuniae ai pagamenti digitali
2018
La monografia “Dalla traditio pecuniae ai pagamenti digitali” indaga le tensioni evolutive che – vuoi per la digitalizzazione degli strumenti di circolazione dei capitali, vuoi per i recenti interventi normativi in tema di pagamento con moneta non contante e, in particolare, la disciplina europea dei servizi e delle operazioni di pagamento di cui alla direttiva UE 2015/2366 e la normativa interna di attuazione – agitano la materia delle obbligazioni pecuniarie. Dalla messa a sistema di queste regole il volume mira a verificare l’emersione di un nuovo paradigma dell’«adempimento (necessariamente) intermediato» dell’obbligazione pecuniaria, retto da principi e logiche autonome rispetto al mod…
Internacionalización de la banca española: evolución y resultados en los años noventa
2001
La globalización de la economía ha sido uno de los factores que ha impulsado el proceso de internacionalización de las empresas industriales, al que, posteriormente, se ha unido el sector servicios. Las peculiaridades de dicho sector, así como el dinamismo registrado en el sistema financiero, han motivado que se elija a las entidades bancarias como representantes del fenómeno de la internacionalización a finales del siglo XX. El trabajo se ha centrado en el análisis de la estrategia internacional de los principales bancos españoles por volumen de negocio y presencia exterior: los modos de entrada y principales mercados de destino de la inversión española, así como la relación entre el grado…