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RT Journal Article
T1 Le Franc français et la récente crise monétaire européenne
A1 Jona-Lasinio, Cécilia
PB Ministère de l'Économie
JF Économie & prévision
VO 140
IS 4
YR 1999
SP 147
OP 159
UL https://www.persee.fr/doc/ecop_0249-4744_1999_num_140_4_5981
SN 0249-4744
DO 10.3406/ecop.1999.5981
AB The French Franc and the Recent European Currency Crisis by Cecilia Jona-Lasinio 
The 1992 and 1993 currency crises demonstrated the enormous pressures that can be raised against official exchange rate parities when investors perceive that significant exchange rate realignments may be imminent. In this paper I propose an empirical analysis of the 1 992- 1 993 crises to establish whether speculators were able to perceive the exact timing of the devaluations and if and how the economic and political news influenced their devaluation expectations. In particular, I analyse the expected timing of devaluation of the French Franc relative to the Deutschemark before the 1 992 and 1 993 currency crisis. The empirical analysis shows that before the occurrence of both crisis agents were awareof the imminence of the devaluation and that they were very sensitive to the news spread daily over the markets.
OL fre
DB Persée https://www.persee.fr
DS Persée
NO Copyright Persée