This paper aims to evaluate the impact of commodity terms trade (CTOT) shocks on labour market resilience Sub-Saharan Africa (SSA) countries, comparing franc zone countries one hand, from non-franc other hand. The results PVAR estimation indicate a positive in SSA countries. finding holds both and When robustness is checked through PSTR, this relationship established be non-linear. policy impli...

This paper examines the effect of currency conversion programs from Swiss franc-denominated loans to other on risk for banks in Central and Eastern Europe (CEE). franc mortgage proliferated CEE countries prior financial crisis contributed volume non-performing as strongly appreciated during post-crisis period. Empirical findings suggest that loan reduced mismatches francs but increased foreign ...

In the present paper, the issue of the existence of optimal barter steady states is addressed in a stationary overlapping generations model with many commodities and many different long-lived consumers. A general characterization of the individual endowments leading to an optimal barter steady state is obtained. The result, which is a generalization of Benveniste and Cass (1986), is obtained as...

The effect of the single European currency on African economies is uncertain. Many agree that the euro, which will become the sole legal tender in 11 European countries (euroland) after June 30, 2002, will have an economic effect on the 14 African countries that use the CFA franc as their currency, but the direction of that effect is unknown. Currently, euroland and the CFA countries have clo...

This paper investigates the bivariate dependence structure for three pairs of exchange rates measured against the US dollar: Euro and Japanese yen, Euro and British pound, Euro and Swiss franc, over the period January 1994 to November 2007. The Deutsche mark (DM) is used for the pre-euro period. By using non-parametric plots and copula models estimated by semi-parametric methods, we are able to...

It is commonly agreed that excessive household financial debts are detrimental to psychological and physical health. Research also demonstrates that housing instability, mortgage indebtedness and mortgage foreclosure negatively influence subjective well-being. In Poland at the beginning of 2015, homeowners with Swiss franc denominated mortgages suffered from an abrupt swing in the Swiss franc/P...