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The CEPII Newsletter       
November 2014        

The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources


Central banks currency swaps : a key feature of the international monetary system

Currency swaps combined with the unlimited and exclusive power of central banks to create money can match the volatility of international capital flows. They have proved very effective during the recent financial crisis. However, they have not been associated with conditionality and they are more precarious than existing arrangements, such as the IMF or regional financial agreement, which they challenge. Embedding these swaps in a formal international treaty is not a realistic goal and it would be ineffective but it is likely that an internationally agreed set of principles would help to improve their incidence on the world’s monetary and financial stability while at the same time making them more transparent and fairer. >>>
Christophe Destais


EconMap – Macroeconomic projections to 2050

Developed at CEPII since 2010, the macroeconomic projections database EconMap has been updated, providing homogenized and up-to-date data from 1980 to 2012, as well as improved projections up to year 2050 for 167 countries (20 more than the previous version), regarding Gross Domestic Product, production factors (capital, labor, energy) and productivity (energy-specific and capital-labor-specific).
This database is built from an updated version of the MaGE model (available online), introducing better insights in the dynamics of global energy productivity along with economic development. These projections will be presented at an upcoming meeting of the Club du CEPII on November the 24th.

  • Economists
  • Macroeconomist
    Deadline for application :
    December 7, 2014
  • ISSN: 1255-7072
    Editorial Director : Antoine Bouët
    Managing Editor : Dominique Pianelli