Suchergebnisse

AbstractThis paper makes an empirical contribution to discussion of the optimal exchange rate regime. Using a new dataset for Central American countries, we compare the dynamics of the real exchange rate (RER) between dollarised and non-dollarised countries. Our results show that the two dollarised countries in the region, El Salvador and Panama, are quite different in terms of RER dynamics. In El Salvador the RER spends more time away from its equilibrium level than in the non-dollarised countries in the region, while the contrary is true for Panama. We also find that inflation persistence is similar in El Salvador to the other countries, but smaller in Panama. This leads us to the conclusion that some degree of exchange rate flexibility helps countries to have a more aligned RER. Nevertheless, a long-lived, highly credible dollarised economy, like Panama, can reduce inflation persistence to such an extent that RER misalignments are in fact less frequent than in countries with more flexible exchange rate regimes.

Abstract. The Ca' Lita landslide is a large and deep-seated mass movement located in the Secchia River Valley, in the sector of the Northern Apennines falling into Reggio Emilia Province, about 70 km west of Bologna (Northern Italy). It consists of a composite landslide system that affects Cretaceous to Eocene flysch rock masses and chaotic complexes. Many of the components making up the landslide system have resumed activity between 2002 and 2004, and are now threatening some hamlets and an important road serving the upper watershed area of River Secchia, where many villages and key industrial facilities are located. This paper presents the analysis and the quantification of displacement rates and depths of the mass movements, based on geological and geomorphological surveys, differential DEM analysis, interpretation of underground stratigraphic and monitoring data collected during the investigation campaign that has been undertaken in order to design cost-effective mitigation structures, and that has been conducted with the joint collaboration between public offices and research institutes.