Mardi | 2019-02-07 Salle des thèses 16h – 17h20 Florent BRESSON – Gaston YALONETZKY In contrast to reported improvements in world inequality, we document the decline of the world middle class between 2002 and 2012, as interpreted by the bipolarization approach. Using a balanced panel of countries representing more than 80% of the world’s population, we find that reduced inequality within the world’s bottom 50% is the main driver of higher relative bipolarization; while that inequality reduction among the bottom […]

Mercredi | 2019-02-07 Salle B103 – 12h00 Asma BOUSSETTA – El Moctar LAGHLAL – Réda MARAKBI In this paper, we study the relation between microfinance and economic growth. Using a panel of 69 countries over the 1999-2017 period and taking account of the endogeneity associated with microfinance institutions? loans, we show that microfinance strongly contributes to increase growth, especially in African and Asian countries. We also identify some of the channels through which microfinance positively affects growth. In particular, we […]

Mardi | 2019-02-05 Salle des thèses 16h – 17h20 Antonia LOPEZ-VILLAVICENCIO – Marc POURROY This paper estimates the effects of different forms of inflation targeting (IT) in the exchange rate pass-through (ERPT). To this end, we first estimate the ERPT for a large sample of countries using state-space models. We then consider the adoption of an inflation targeting framework by a country as a treatment to find suitable counterfactuals to the actual targeters. By controlling forself-selection bias and endogeneity of […]

Mercredi | 2019-01-31 Salle B103 – 12h00 Alin ANDRIES his paper investigates the effects of national culture on systemic risk, using a comprehensive dataset, covering 75% of the total assets of the ?Global Bank? sample for the period 2000-2016. We measure cultural differences using country-level indices for individualism, power distance, masculinity and uncertainty avoidance developed by Hofstede (2001). Because these indicators have dual information , for a better identification we account for their potential nonlinear effects they have on the […]

Mardi | 2019-01-22 Salle des thèses 16h – 17h20 Graciela KUECHLE – Luise ROHLAND Entrepreneurs may differentiate their ventures and attract investments by advertising that their firm produces positive externalities for society. Such signaling of entrepreneurs’ trustworthiness may be a prevalent practice in these “impact investment’’ opportunities. This paper investigates theoretically this possible signaling and it studies the interplay of altruistic, fiscal, and reputational motives in a laboratory experiment. In the experiment, entrepreneurs choose between a conventional investment opportunity or […]

Mercredi | 2019-01-10 Salle B103 – 12h00 Raphaël DANINO-PERRAUD Les minerais critiques dans la chaîne de valeur de l’industrie de défense, de la mine à l’alliage.

Mardi | 2019-01-08 Salle des thèses 16h – 17h20 Olivier MASSOL – Stéphane TCHUNG-MING – Albert BANAL-ESTANOL This paper examines the conditions for the deployment of large-scale pipeline and storage infrastructure needed for the capture of CO2 in Spain by 2040. It details a modeling framework that allows us to determine the optimal infrastructure needed to connect a geographically disaggregated set of emitting and storage clusters, along with the threshold CO2 values necessary to ensure that the considered emitters will […]

Mardi | 2018-12-18 Salle des thèses 16h – 17h20 Hassen KOBBI – Comlanvi Jude EGGOH De nombreux pays subissent des crises politiques, parfois sévères avec des conséquences économiques dramatiques, sans qu’une analyse profonde des motifs de ces phénomènes d’instabilité politique ne soit réellement effectuée. Une meilleure connaissance des facteurs favorisant l’instabilité politique, permettra de mieux les prévenir, les contenir et de limiter les effets adverses. Le présent article s’inscrit dans cette perspective en revisitant les déterminants macroéconomiques et institutionnels de […]

Mercredi | 2018-12-06 Salle B103 – 12h30 Jean-Charles GARIBAL – Massimiliano CAPORIN – Michele COSTOLA – Bertrand MAILLET After the last major financial crisis of 2008, the financial literature has proposed several systemic risk measures as attempts for quantifying the magnitude of the financial system distress. In this article, we suggest the construction of an overall meta-index for the measurement of systemic risk based on a Sparse Principal Component Analysis of main systemic risk measures, which ultimately aims to provide […]

Mardi | 2018-12-04 Salle des thèses 16h – 17h20 Jean-Charles BRICONGNE – Alessandro TURRINI – Peter PONTUCH Despite growing consensus on the relevance of a sound assessment of housing market developments for macro-financial surveillance, housing prices assessments in a multi-country context normally rely on price indexes only. This has a number of limitations, especially if available time series are short and series averages cannot be taken as reliable benchmarks. To address this issue, the present paper computes housing prices in […]