The latest international economic trends analyzed by CEPII's economists

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COP21

Authors
Michel Aglietta
Yves-Emmanuel Bara
Maria Bas
Agnès Bénassy-Quéré
Antoine Berthou
Céline Carrère
Benjamin Carton
Virginie Coudert
Matthieu Crozet
Christophe Destais
Evelyne Dourille-Feer
Etienne Espagne
Lionel Fontagné
Michel Fouquin
Jean Fouré
Julien Gourdon
Olena Havrylchyk
Jérôme Héricourt
Colette Herzog
Sébastien Jean
Marc Joëts
Svetlana Ledyaeva
Françoise Lemoine
Stéphane Lhuissier
Valérie Mignon
Cristina Mitaritonna
Francesco Molteni
Laurence Nayman
Marcelo Olarreaga
Gianluca Orefice
Jean Pisani-Ferry
Sophie Piton
Urszula Szczerbowicz
Fabien Tripier
Deniz Ünal
Natacha Valla
Guanghua Wan

In search of a liquid asset for European financial markets

Money & Finance | Europe 
Post, July 15, 2016
By Francesco Molteni
European financial markets face a shortage liquid assets. New regulations increase banks’ demand for liquid securities, mainly sovereign bonds, but the European fiscal rules constrain the supply of public debt. Further, the QE is draining bonds from the market. Some proposed forms of “Eurobonds” or new debt securities issued by European supranational organizations could solve this problem.
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How Multi-Destination Firms Shape the Effect of Exchange Rate Volatility on Trade

Trade & Globalization | Money & Finance 
Post, June 14, 2016
By Jérôme Héricourt, Clément Nedoncelle
The idea that exchange rate volatility could be detrimental to international trade is widely accepted. Surprisingly, macroeconomic evidence on its impact on trade yields either small or insignificant effect on aggregate outcomes. This column suggests that the behavior of big, multi-destination firms help explain this puzzle.
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Through the lenses of the natural rate of interest, European monetary policy appears to be too loose since 2015

Money & Finance 
Post, May 27, 2016
By Stéphane Lhuissier
This column evaluates the ECB’s monetary policy stance based on the concept of the “natural rate of interest”. Our estimation results reveal that the ECB’s asset purchase programme seems to be too accommodating since 2015.
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Towards an international financial public order

Money & Finance | Economic Policy 
Post, February 9, 2016
By Christophe Destais
The shift from the concept of an “international monetary system” to that of “global financial safety nets” is positive but, still, limited mostly to emergency liquidity assistance. The broader notion of an “international financial public order” including crisis prevention would be more suitable.
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Falling oil price and appreciating dollar: is it normal?

Money & Finance | Environment & Natural Resources 
Post, January 27, 2016
By Virginie Coudert, Valérie Mignon
Dollar changes impact negatively oil prices most of the times, except when the dollar reaches particularly high levels. During these episodes of high dollar values, the relation between both variables turns positive.
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Best wishes for 2016!

Post, January 1, 2016
By Sébastien Jean
After an eventful year, many questions are raised about trends in the world economy, on which CEPII will aim at shedding light in the coming year.
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Enforcement of FTAs: lessons for TPP and new trade agreements

Trade & Globalization 
Post, December 15, 2015
By Sébastien Jean, Kevin Lefebvre
The U.S. administration insists on the fact that the TPP is ‘enforceable’. If experience of previous US trade agreements is to offer any guidance, this enforceability cannot be taken for granted. Yet the stakes are high for both regional trade rules’ credibility, and for multilateralism’s future.
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Georges Sokoloff

Post, December 12, 2015
By Michel Fouquin, Sébastien Jean, Jean-Pierre Saltiel
Georges Sokoloff nous a quittés ce lundi 7 décembre. Avec ce contributeur de toujours aux travaux du CEPII disparaît l’un des meilleurs experts du monde russe et soviétique.
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Business Cycles in Europe since 1970

Competitiveness & Growth 
Post, December 10, 2015
By Stéphane Lhuissier
This column reports the nature and the amplitude of economic cycles in the Euro area since 1970, with a focus on the role of financial factors in generating these cycles.
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COP21

Trillions in Transition: Growing our Way out of Climate Change?

Environment & Natural Resources 
Post, December 7, 2015
By D.A. Loorbach, R. Lijnis Huffenreuter

Other posts on COP21
> To Recognize the Social Value of Mitigation Actions in a Climate Agreement
> Thinking ‘Eco-Systemically’ to Shift the Trillions
> The price of carbon: ways forward after COP-21
All posts on COP21 >
 
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