All Outputs (4)

Nominal exchange rates and net foreign assets' dynamics: The stabilization role of valuation effects (2024)
Journal Article
Eugeni, S. (2024). Nominal exchange rates and net foreign assets' dynamics: The stabilization role of valuation effects. Journal of International Money and Finance, 141, Article 103018. https://doi.org/10.1016/j.jimonfin.2024.103018

This paper proposes a parsimonious OLG model with output shocks to shed light on the impact of the nominal exchange rate on the dynamics of net foreign assets through valuation effects. We show that an increase in the share of world GDP leads to a tr... Read More about Nominal exchange rates and net foreign assets' dynamics: The stabilization role of valuation effects.

Nominal exchange rate determination and dynamics in an OLG framework (2020)
Journal Article
Bambi, M., & Eugeni, S. (2021). Nominal exchange rate determination and dynamics in an OLG framework. Economic Theory, 72, 93-132. https://doi.org/10.1007/s00199-020-01271-3

The empirical evidence on nominal exchange rate dynamics shows a long-run relationship of this variable with the fundamentals of the economy, although such relationship disappears at shorter horizons. This apparently contrasting behaviour of the nomi... Read More about Nominal exchange rate determination and dynamics in an OLG framework.

Global imbalances in the XIX, XX and the XXI centuries (2016)
Journal Article
Eugeni, S. (2016). Global imbalances in the XIX, XX and the XXI centuries. Economics Letters, 145, 69-72. https://doi.org/10.1016/j.econlet.2016.05.018

We establish a new stylized fact: while the current account and the trade balances are positively correlated during the second globalization (1990s–2010s), they were negatively correlated during the first globalization (1870s–1910s). We show that the... Read More about Global imbalances in the XIX, XX and the XXI centuries.

An OLG model of global imbalances (2014)
Journal Article
Eugeni, S. (2015). An OLG model of global imbalances. Journal of International Economics, 95(1), 83-97. https://doi.org/10.1016/j.jinteco.2014.10.003

In this paper, we investigate the relationship between East Asian countries' high propensity to save and global imbalances in a two-country OLG model with production. The saving behavior of emerging economies and capital outflows to the United States... Read More about An OLG model of global imbalances.