Kenza Benhima
Dados Biográficos
| ID | 5735035 |
|---|---|
| NOME | Kenza Benhima |
| PRENOMES | Kenza |
| SOBRENOME | Benhima |
| ASSINATURA | BENHIMA K |
| AFILIAÇÕES | Internef 522, University of Lausanne, 1015 Lausanne, Switzerland (email: ) |
| ORCID | 0000-0002-7765-3398 |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 6 |
| TOTAL DE CITAÇÕES | 0 |
| TOTAL COMO AUTOR | 6 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 2009 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 0 |
Do Local Forecasters Have Better Information
Using inflation and growth forecasts for a panel of emerging and advanced economies, we provide evidence that foreign forecasters publish and update their forecasts less frequently than local forecasters and make larger errors. We provide tests that identify differences in information frictions across groups and show that the lower accuracy of foreigners is not due to more irrational expectations, but to less precise information. This information…
Foreign Currency Debt and Disagreement
This paper highlights the disagreement channel of corporate foreign currency borrowing. In our model, if domestic agents have better information than foreign lenders on the state of the economy, foreign currency borrowing might arise if the fundamentals are strong relative to what public signals suggest to foreigners. In these situations, international markets overestimate future currency depreciation, which increases the cost of borrowing in dom…
Does demand noise matter? Identification and implications
Optimal Monetary Policy when Information is Market-Generated
The nature of the private sector’s information changes the optimal conduct of monetary policy. When firms observe their individual demand and use it as a signal of real shocks, the optimal policy consists in maximising the information content of that signal. When real shocks are deflationary (like labour supply shocks), the optimal policy is countercyclical and magnifies price movements, which contrasts with the exogenous information case, where …
Corporate Cash and Employment
In the aftermath of the US financial crisis, both a sharp drop in employment and a surge in corporate cash have been observed. In this paper, based on US data, we argue that the negative relationship between the corporate cash ratio and employment is systematic, both over time and across firms. We develop a dynamic general equilibrium model where heterogenous firms need cash and external liquid funds in their production process. We analyze the dy…
Déséquilibres globaux et croissance des pays émergents dans une économie mondiale
La dernière décennie a été marquée par d’importants déficits courants aux États-Unis et par la croissance relative de la productivité globale des facteurs dans les pays émergents. Cet article propose un modèle d’économie mondiale où ces deux faits sont le résultat de l’intégration financière entre deux pays (un pays industriel et un pays émergent) et du développement financier domestique hétérogène dans ces deux pays. L’élément clé du mécanisme e…
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Déséquilibres globaux et croissance des pays émergents dans une économie mondiale
La dernière décennie a été marquée par d’importants déficits courants aux États-Unis et par la croissance relative de la productivité globale des facteurs dans les pays émergents. Cet article propose un modèle d’économie mondiale où ces deux faits sont le résultat de l’intégration financière entre deux pays (un pays industriel et un pays émergent) et du développement financier domestique hétérogène dans ces deux pays. L’élément clé du mécanisme e…
Corporate Cash and Employment
In the aftermath of the US financial crisis, both a sharp drop in employment and a surge in corporate cash have been observed. In this paper, based on US data, we argue that the negative relationship between the corporate cash ratio and employment is systematic, both over time and across firms. We develop a dynamic general equilibrium model where heterogenous firms need cash and external liquid funds in their production process. We analyze the dy…
Does demand noise matter? Identification and implications
Optimal Monetary Policy when Information is Market-Generated
The nature of the private sector’s information changes the optimal conduct of monetary policy. When firms observe their individual demand and use it as a signal of real shocks, the optimal policy consists in maximising the information content of that signal. When real shocks are deflationary (like labour supply shocks), the optimal policy is countercyclical and magnifies price movements, which contrasts with the exogenous information case, where …
Do Local Forecasters Have Better Information
Using inflation and growth forecasts for a panel of emerging and advanced economies, we provide evidence that foreign forecasters publish and update their forecasts less frequently than local forecasters and make larger errors. We provide tests that identify differences in information frictions across groups and show that the lower accuracy of foreigners is not due to more irrational expectations, but to less precise information. This information…
Foreign Currency Debt and Disagreement
This paper highlights the disagreement channel of corporate foreign currency borrowing. In our model, if domestic agents have better information than foreign lenders on the state of the economy, foreign currency borrowing might arise if the fundamentals are strong relative to what public signals suggest to foreigners. In these situations, international markets overestimate future currency depreciation, which increases the cost of borrowing in dom…
Economics (4 obras) · Monetary economics (4 obras) · Global Financial Crisis and Policies (3 obras) · Monetary Policy and Economic Impact (3 obras) · Economic theories and models (2 obras) · Macroeconomics (2 obras) · Monetary policy (2 obras) · Aggregate demand (1 obras) · Banking stability, regulation, efficiency (1 obras) · Business (1 obras)