Année : 2015

Mercredi | 2015-06-17 B103 à 12h CYRILLE DOSSOUGOIN – JEAN-YVES GNABO – Nicolas DEBARSY The recent financial crisis has shed light on how fast sovereign risk can spread from one economy to another as well as on the dramatic role macroeconomic and financial transmission channels could play for the worldwide economic stability. In the case of Europe for instance, the sovereign debt-related turmoil in Greece was rapidly transmitted to other euro-area countries as materialized by the sharp increase in bond […]

Mardi | 2015-06-16 Sully 5, 16h-17h20 Ujjayant CHAKRAVORTY – Martino PELLI – Anna RISCH Fuelwood collection is often cited as the most important cause of deforestation in many developing countries. There is a significant literature on fuelwood markets but almost no studies on who is using the fuelwood collected. Is the fuelwood collected in rural areas used locally or by people living in nearby towns and cities? The answer to this question has implications for both environment and energy policy. […]

Mardi | 2015-06-09 Sully 5, 16h-17h20 Maxime MENUET – Patrick VILLIEU In response to the Great Recession, Central Banks around the world adopted  » unconventional » monetary policies. In particular, the Fed, and more recently the ECB, launched massive debt monetization programs. In this paper, we develop a formal analysis of the short- and long-run consequences of deficit and debt monetization, through an endogenous growth model in which economic growth interacts with productive public expenditure. This interaction can generate two positive […]

Mardi | 2015-06-05 Sully 5, 10h30-12h Kamel Malik BENSAFTA – Gervasio SEMEDO Ce papier traite la question de transmission des prix et des incertitudes de prix du pétrole brut et les marchés boursiers. L’application d’une modélisation GARCH multivariée a montré que les chocs de prix du pétrole et les incertitudes sur ce marché sont transmises vers les marchés américains et européens. Il apparaît également l’effet global du marché américain. Nos résultats montrent l’importance de la part asymétrique de la transmission […]

Mardi | 2015-06-02 Sully 5, 16h-18h Alain AYONG LE KAMA – Ujjayant CHAKRAVORTY – Mouez FODHA We develop a model of capturing terrorists in a dynamic framework when the very act of killing or capturing them induces new recruit formation to the terrorists? cause. We adopt standard economic models of fishing to show that the discount rate, the cost of catching terrorists and the technology used, can affect optimal terrorism policy. We show conditions under which the model yields a […]

Mardi | 2015-06-02 Sully 5, 16h-18h Julien DAUBANES – Saraly ANDRADE DE SÁ The conventional analysis of policy-induced changes in resource extraction is inconsistent with the actual way OPEC is exerting its market power. We claim that OPEC is practicing limit pricing, and we extend to non-renewable resources the limit-pricing theory. Facing a very inelastic demand, an extractive cartel seeks to induce the highest price that does not destroy its demand, unlike the conventional Hotelling analysis: the cartel tolerates some […]

Mercredi | 2015-05-27 B103 Désiré KANGA This paper aims at reviewing the role of banks in the transmission of the monetary policy in the West African Economic and Monetary Union (WAEMU). The banking sector of this region is small, well-capitalised and highly liquid. In addition, it is highly concentrated and slightly competitive. According to the literature, in that case, the credit channel seems to be the only channel of transmission of the monetary policy. However, the reliability of this channel […]

Mardi | 2015-05-26 Sully 5, 16h-17h20 Nicolas DEBARSY – Cem ERTUR – Manuel RUIZ-MARIN In this paper we propose several nonparametric spatial independence tests based on runs. The tests can be applied to quantitative or categorical data and are able to detect linear and nonlinear spatial structure. With a Monte Carlo experiment we show the size and power performance of the statistic under linear and nonlinear data generating process. The results of our test is also compared to other statistics […]

Mardi | 2015-05-18 Sully 5, 15h-16h20 Arslan Tariq RANA A long debate continues whether international trade institutions (specifically preferential trade agreements, (PTAs)) affect security relations between states. Contradicting theories and empirical claims are put forward by realists and liberals. The former posit that the institutions are epiphenomenal and possess no power to constrain state behavior whereas the latter claim that the institutions are likely to promote cooperation by supplying forums for consultation, arbitration and adjudication, thus reducing the risk of […]

Mardi | 2015-05-12 Sully 5, 16h-17h20 Julien PENASSE This paper develops an estimation framework in which the true parameters of international return processes share a common distribution. The model (i) makes e fficient use of the cross-sectional correlation in the residuals, (ii) incorporates cross-sectional information in the estimation process, and (iii) introduces economic constraints on equity premium forecasts. The eff ect on estimation precision is remarkably strong and manifests itself both in- and out-of-sample. Once cross-sectional information is accounted for, […]