Bulletin n. 1/2012
June 2012
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Bouchoucha Meriem
    The transfer effect: A comparative perspective between the European monetary union regime and fixed and floating regimes
    in Economie internationale , 2011/1 (n° 125) ,  2011 ,  105-131
    We examine the determinants of the real effective exchange rate for several countries over the 1980-2007 period according to their exchange-rate regime. Based on panel cointegration techniques, we estimate the long run relationship between the exchange rate and a number of fundamental variables, often considered by the theoretical and empirical literature as important exchange rate determinants, namely relative productivity, net foreign assets and terms of trade. Our results show that the exchange-rate regime influences the real exchange rates determinants, and that the “European Monetary Union” fixed exchange rate regime type differs substantially from the “traditional” fixed exchange-rate regime and the floating one.
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