Advanced Search
MyIDEAS: Login to save this article or follow this journal

La dynamique du système monétaire et financier international

Contents:

Author Info

  • Jacques Léonard
  • Gérard Kébabdjian
  • Jean-Pierre Berdot
Registered author(s):

    Abstract

    [fre] L'idée de cet article est d'articuler dans un schéma intégré deux macrorelations : la première, exprimant le système monétaire international, détermine la volatilité du système des taux de change à partir de la « vitesse de rotation » des capitaux. La seconde, exprimant le système financier international, détermine cette vitesse à partir de la « volatilité structurelle » du système des taux de change. On arrive alors à déterminer de façon conjointe, comme des « valeurs d'équilibre », l'importance des opérations en capital sur les marchés des changes et la volatilité du système des taux de change. Dans une première partie, sont présentées les données empiriques. La deuxième partie propose la formalisation théo- rique des rapports entre volatilité des marchés et rotation des capitaux. La troisième partie cherche à valider le modèle théorique pour les principales monnaies constituant l'essentiel des activités sur les marchés des changes. [eng] This paper deals with two macro- relationships in a unified framework. The first one is related to the International Monetary System and defines the volatility of the exchange rates system as a function of the turnover in capital. The second one is related to the International Financial System and defines the turnover velocity as a function of the structural volatility of the exchange rates system. The model determines the equilibrium values for the two variables (volatility and velocity). The first part highlights the empirical data. The second part gives the theoretical framework explaining the relationships between volatility of exchange rates and turnover in capital. The third part tests the theoretical model for the main currencies traded in the foreign exchange markets.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://dx.doi.org/10.3406/rfeco.1999.1092
    Download Restriction: no

    File URL: http://www.persee.fr/articleAsPDF/rfeco_0769-0479_1999_num_14_4_1092/rfeco_0769-0479_1999_num_14_4_1092.pdf?mode=light
    Download Restriction: no

    Bibliographic Info

    Article provided by Programme National Persée in its journal Revue française d'économie.

    Volume (Year): 14 (1999)
    Issue (Month): 4 ()
    Pages: 87-120

    as in new window
    Handle: RePEc:prs:rfreco:rfeco_0769-0479_1999_num_14_4_1092

    Note: DOI:10.3406/rfeco.1999.1092
    Contact details of provider:
    Web page: http://www.persee.fr/web/revues/home/prescript/revue/rfeco

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:prs:rfreco:rfeco_0769-0479_1999_num_14_4_1092. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Equipe PERSEE).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.