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a r t i c l e i n f o JEL classification: C12 C22 C32 F30 F31 Keywords: Fractional Integration Nonlinear modelling Mean reverting process Long-memory process This paper examines the time series behavior of monthly bilateral real exchange rates (RER) on a comprehensive sample of 78 industrialized and developing countries, using the US Dollar, the UK Pound… (More)

- Marcel Aloy, Mohamed Boutahar, Karine Gente, Anne Péguin-Feissolle, Anne Péguin-Feissolle¶k
- 2010

This paper examines the relationships between the CAC40 index, the Dow Jones index and the Euro/USD exchange rate using daily data over the period 1999-2008. We find that these variables are I(1) nonstationary series, but they are fractionally cointegrated: equilibrium errors exhibit slow mean reversion, responding slowly to shocks. Therefore, with regard… (More)

- Karine Gente, Miguel A. Léon-Ledesma, Carine Nourry, Karine GENTE, Miguel A. LEÓN-LEDESMA, Carine NOURRY
- 2013

Empirical evidence on the growth benefits of capital inflows is mixed. The growth benefits accruing from capital inflows also appear to be larger for high savings countries. We explain this phenomenon using an OLG model of endogenous growth in open economies with borrowing constraints that can generate both positive and negative growth effects of capital… (More)

- Raouf Boucekkine, Giorgio Fabbri, +13 authors Vladimir Veliov
- 2013

We study the compatibility of the optimal population size concepts produced by different social welfare functions and egalitarism meant as “equal consumption for all individuals of all generations”. Social welfare functions are parameterized by an altruism parameter generating the Benthamite and Millian criteria as polar cases. The economy considered is in… (More)

- Thi Hong, Thinh Doan, Karine Gente
- 2015

The present study develops a two-sector specific factor model in which capital is mobile between sectors. We assume that the traded (non-traded) sector uses skilled (unskilled) labour for production. The theoretical model reveals that the real exchange rate (RER) response to a productivity shock depends on the countries’ relative abundance of skilled… (More)

- Dimitris K. Christopoulos, Karine Gente, Miguel León-Ledesma
- 2008

Empirical evidence suggests that real exchange rates (RER) behave differently in developed and developing countries. We develop an exogenous 2-sector growth model in which RER determination depends on the country’s capacity to borrow from international capital markets. The country faces a constraint on capital inflows. With high domestic savings, the… (More)

This paper develops a two goods overlapping generations model of a semismall open economy. Since generations are not linked, the world interest rate and the domestic rate of time preference need not to be equal. Consequently, this setting represents the real minimal framework to study the e®ects of a world interest rate shock. We show that both medium and… (More)

- Marion Davin, Karine Gente, Carine Nourry
- Mathematical Social Sciences
- 2015

Should a country invest more in human or physical capital? The present paper addresses this issue, considering the impact of different factor intensities between sectors on both optimal human and physical capital accumulation. Using a two-sector overlapping generations setting with endogenous growth driven by human capital accumulation, we prove that… (More)

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