Finance internationale avancée

Préambule : si, pour tenir compte de la situation sanitaire, des restrictions ou des contraintes sont imposées à l'Université Paris Nanterre ou à l'UFR SEGMI, tout ou partie des épreuves, contrôles de connaissances et examens terminaux de la session 1 et de la session 2, ainsi que des sessions de rattrapages, pourront se dérouler en mode distancié.

Topic 1. The Foreign Exchange Rate Market and Stylised Facts
Topic 2. Six Major Puzzles
Topic 3. Explaining and Forecasting Exchange Rates
Topic 4. International Financial Crises
Topic 5. Financial Integration, Risk Sharing and Economic Development
Topic 6. Global Imbalances, Exorbitant Privilege/Duty and Last-Resort Insurers
Topic 7. Exchange Rate Regimes Monetary Independence: Dilemma not Dilemma?

This course provides an overview of key and recent issues in international finance. It discusses the main stylized facts and the major puzzles and surveys selected current research topics in the field such as global imbalances, international risk sharing, the determination of real exchange rates and purchasing power parity; empirical models of nominal exchange rates. This course addresses several issues that concern both policymakers and private actors: how to explain the variations in exchange rates? Can we predict exchange rates? The various forms of financial crises and is it possible to predict? Are monetary policies truly independent even under flexible exchange rates? Do we face a currency war? What is the counterpart of the exorbitant privilege enjoyed by some countries in the international financial system?

Evaluation écrite, Evaluation sur dossier et oral.

Prise en compte de la situation sanitaire : se référer à la disposition générale figurant en préambule des fiches de cours du présent document.

Pré-requis : macroeconomics; econometrics; money, banking and finance

Evaluation écrite, Evaluation sur dossier et oral.

Prise en compte de la situation sanitaire : se référer à la disposition générale figurant en préambule des fiches de cours du présent document.

The course develops critical thinking and analytical ability of students by monitoring and analysing the international monetary and financial conditions.

Evans M.D.D. (2011), Exchange-Rate Dynamics, Princeton University Press.
Krugman P.R, Obstfled M. and Melitz M. (2014), International Economics: Theory and Policy,
Pearson.
Obstfeld M. and Rogoff K. (1996), Foundations of International Macroeconomics, MIT Press.

Classe interactive