The real effects of invoicing exports in dollars

Autor: Antoine Berthou, Guillaume Horny, Jean-Stéphane Mésonnier

Publikováno v: Journal of International Economics
Journal of International Economics, Elsevier, In press, 135, pp.103569. ⟨10.1016/j.jinteco.2022.103569⟩

International audience; Exporting firms face foreign exchange risk when the export contract is invoiced in a foreign currency. For instance, for firms located outside of the United States, the US dollar is often used as a vehicle currency. The cost o

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::fa43c525e5a590130c791bf1b10cd9c0
https://doi.org/10.1016/j.jinteco.2022.103569

Dollar Funding and Firm-Level Exports

Autor: Guillaume Horny, Jean-Stéphane Mésonnier, Antoine Berthou

Publikováno v: SSRN Electronic Journal.

How do financial frictions in currency markets affect firm-level exports? We bring new answer to this question by looking at a recent episode in the summer of 2011 when the cost of US dollar funding increased markedly for European banks and their cli

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::f92fa8d22276aab19bc29beb61510aef
https://doi.org/10.2139/ssrn.3135724

Measuring Financial Fragmentation in the Euro Area Corporate Bond Market

Autor: Guillaume Horny, Benoit Mojon, Simone Manganelli

Publikováno v: Journal of Risk and Financial Management
Volume 11
Issue 4
Journal of Risk and Financial Management, Vol 11, Iss 4, p 74 (2018)

This paper analyses the determinants of euro area non-financial corporate bonds since the early 2000s, so as to gauge deviations from the law of one price. We decompose the spread between the yield of German, French, Italian and Spanish corporate bon

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::570b536d04ce8c71d2c7014cf91b7faa
https://doi.org/10.3390/jrfm11040074

Une étude empirique de la mobilité professionnelle avec employeurs et employés hétérogènes

Autor: Guillaume Horny, Gerard J. van den Berg, Rutes Mendes

Publikováno v: Horny, G, Mendes, R & van den Berg, G J 2008, ' Une etude empirique de la mobilite professionnelle avec employeurs et employes heterogenes ', Revue Économique, vol. 59, pp. 631-640 . https://doi.org/10.3917/reco.593.0631
Revue Économique, 59, 631-640. Presses de Sciences Po

Nous fournissons une etude empirique de la mobilite professionnelle, ou employeurs et employes sont heterogenes. L’inference est bayesienne. Les resultats indiquent une heterogeneite non observee presente au niveau des individus, et bien plus impor

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https://doi.org/10.3917/reco.593.0631

The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises

Autor: Patrick Sevestre, Guillaume Horny, Sanvi Avouyi-Dovi

Publikováno v: Journal of Banking and Finance
Journal of Banking and Finance, 2017, 79, pp.74-94. ⟨10.1016/j.jbankfin.2015.04.020⟩
Journal of Banking and Finance, Elsevier, 2017, 79, pp.74-94. ⟨10.1016/j.jbankfin.2015.04.020⟩

We analyse the dynamics of the pass through of banks’ marginal cost to bank lending rates over the 2008 crisis and the euro area sovereign debt crisis in France, Germany, Greece, Italy, Portugal and Spain . We measure banks’ marginal cost by thei

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::c1aaa41a584b14915f73fb1973141e9a
http://basepub.dauphine.fr/xmlui/bitstream/123456789/15030/1/DT-547_01.pdf