3 papers
q-fin.GN2017
The micro-foundations of an open economy money demand: An application to the Central and Eastern European countries
Claudiu Tiberiu Albulescu, Dominique Pépin, Stephen Miller
This paper investigates and compares currency substitution between the currencies of Central and Eastern European (CEE) countries and the euro. In addition, we develop a model with…
q-fin.GN2016
The loss of interest for the euro in Romania
Claudiu Albulescu, Dominique Pépin
We generalize a money demand micro-founded model to explain Romanians' recent loss of interest for the euro. We show that the reason behind this loss of interest is a severe declin…
q-fin.CP2016
The subjective discount factor and the coefficient of relative risk aversion under time-additive isoelastic expected utility model
Dominique Pepin
By analysing the restrictions that ensure the existence of capital market equilibrium, we show that the coefficient of relative risk aversion and the subjective discount factor can…