1,721,030 research outputs found
Hubert Haenel et François Sicard. Enraciner l'Europe Stefan Collignon. The European Republic. Reflections on the Political Economy of a Future European Constitution
No full textLefebvre. Hubert Haenel et François Sicard. Enraciner l'Europe Stefan Collignon. The European Republic. Reflections on the Political Economy of a Future European Constitution. In: Politique étrangère, n°3-4 - 2003 - 68ᵉannée. pp. 870-871
Hubert Haenel et François Sicard. Enraciner l'Europe Stefan Collignon. The European Republic. Reflections on the Political Economy of a Future European Constitution
No full textLefebvre. Hubert Haenel et François Sicard. Enraciner l'Europe Stefan Collignon. The European Republic. Reflections on the Political Economy of a Future European Constitution. In: Politique étrangère, n°3-4 - 2003 - 68ᵉannée. pp. 870-871
Experience of and Lessons from Exchange Rate Regime in Emerging Economies
Full text linkThe paper reviews recent trends in thinking on exchange rate regimes. It begins by classifying countries into regimes, noting the distinction between de facto and de jure regimes, but also noting the low correlation among proposed ways of classifying the latter. The advantages of fixed exchange rates versus floating are reviewed, including the recent evidence on the trade-promoting effects of currency unions. Frameworks for tallying up the pros and cons include the traditional Optimum Currency Area criteria, as well as some new criteria from the experiences of the 1990s. The Corners Hypothesis may now be peaking' as rapidly as it rose, in light of its lack of foundations. Empirical evidence regarding the economic performance of different regimes depends entirely on the classification scheme. A listing of possible nominal anchors alongside exchange rates observes that each candidate has its own vulnerability, leading to the author's proposal to Peg the Export Price (PEP). The concluding section offers some implications for East Asia.
New Estimation of China's Exchange Rate Regime
Full text linkThe paper updates the answer to the question: what precisely is the exchange rate regime that China has put into place since 2005, when it announced a move away from the dollar peg? Is it a basket anchor with the possibility of cumulatable daily appreciations, as was announced at the time? We apply to this question a new approach to estimating countries' de facto exchange rate regimes, a synthesis of two techniques. One is a technique that has been used in the past to estimate implicit de facto currency weights when the hypothesis is a basket peg with little flexibility. The second is a technique used to estimate the de facto degree of exchange rate flexibility when the hypothesis is an anchor to the dollar or some other single major currency. Since the RMB and many other currencies today purportedly follow variants of Band-Basket-Crawl, it is important to have available a technique that can cover both dimensions, inferring weights and inferring flexibility. The synthesis adds a variable representing "exchange market pressure" to the currency basket equation, whereby the degree of flexibility is estimated at the same time as the currency weights. This approach reveals that by mid-2007, the RMB basket had switched a substantial part of the dollar's weight onto the euro. The implication is that the appreciation of the RMB against the dollar during this period was due to the appreciation of the euro against the dollar, not to any upward trend in the RMB relative to its basket.
Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes
Full text linkA new technique for estimating countries’ de facto exchange rate regimes synthesizes two approaches. One approach estimates the implicit de facto basket weights in an OLS regression of the local currency value rate against major currency values. Here the hypothesis is a basket peg with little flexibility. The second estimates the de facto degree of exchange rate flexibility by observing how exchange market pressure is allowed to show up. Here the hypothesis is an anchor to the dollar or some other single major currency, but with a possibly substantial degree of exchange rate flexibility around that anchor. It is important to have available a technique that can cover both dimensions: inferring anchor weights and the flexibility parameter. We test the synthesis technique on a variety of fixers, floaters, and basket peggers. We find that real world data demand a statistical technique that allows parameters and regimes to shift frequently. Accordingly we here take the next step in estimation of de facto exchange rate regimes: endogenous estimation of parameter breakpoints, following Bai and Perron.
European integration deepening and widening: implications for Asia
Full text linkThe paper discusses the relevance of past concerns about trade and foreign direct investment diversion to the detriment of Asian suppliers and hosts as a result of EU integration deepening and widening in the nineties. Based on recent empirical evidence, these concerns are rejected. As concerns integration deepening through the Single Market Program (SMP), trade resistance factors on the EU import side can be explained mainly by slow growth in Europe in the first half of the nineties rather than by SMP-induced trade barriers. Concerning integration widening toward Central and Eastern Europe (CEE), higher trade and investment shares of CEE are seen as a process of normalization which materialized earlier than the effects of the Europe Agreements. As trade overlaps between Asian and CEE supply on EU markets are low, the trade diversion fear is not well-founded. The paper also addresses the likely implications of the Single European Currency for Asia. Preliminary findings suggest that short-term implications are small but qualifications have to be made given the insufficient data base concerning the use of European currencies for invoicing, financial transactions, anchor and reserve purposes in Asia.regional integration,trade liberalization,foreign direct investment,monetary union
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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