Mercredi | 2018-11-29 Salle B103 – 12h00 Montserrat BOTEY – Guillaume CHAPELLE In France, imputed rents were taxed until 1965 but were removed from the fiscal base in order to foster homeownership. In this paper, we argue that imputed rent taxation should be treated as the abolition of a five decade subsidy. We then develop a method to assess the amount of tax saved by homeowners and analyze who benefits from this tax exemption using TAXIPP microsimulation model by Landais […]

Mardi | 2018-11-26 Salle des thèses 10h30 – 12h Gabriel FELBERMAYR – Feodora TETI – Erdal YALCIN When two countries conclude a free trade agreement (FTA), they define rules of origin (RoOs) to determine whether a product is eligible for preferential treatment. RoOs exist to avoid that exports from third countries enter the FTA through the member with the lowest tariff (trade deflection). However, RoOs distort exporters’ sourcing decisions and burden them with red tape. Using a global data set, […]

Mardi | 2018-11-20 Salle des thèses 16h – 17h20 Marianne LEFEBVRE – Pauline LAILLE – Masha MASLIANSKAIA-PAUTREL We elicit citizens’ preferences for pesticide-free management in urban green spaces. While the literature has focused mostly on the estimation of willingness to pay for pesticide reduction in agricultural production by farmers and food products by consumers, the originality here is to study a pesticide-free non-agricultural good. We rely on a Discrete Choice Experiment ran on-line in November 2017, on a representative sample […]

Mardi | 2018-11-19 Salle Sully 5 11h – 13h The “African Growth Opportunity Act” (AGOA) and “Everything But Arms” (EBA), two preferential agreements extended by the US (AGOA) and the EU (EBA) to some developing countries seem to have contributed somewhat to boost Sub-Saharan Africa’s exports since 2001. However, not all African countries have benefited from them, among which West African countries. Paradoxically, these latter countries host two of the most advanced regional economic communities in Sub-Saharan Africa: The West […]

Mardi | 2018-11-13 Salle des thèses 16h – 17h20 Andreea MORARU-ARFIRE – Michel DUBOIS – Zana GRIGALIūNIENE This paper investigates the key determinants of analysts’ earnings forecast errors. We find that the firm-analyst relationship is at the core of the process of forecasting earnings. Specifically, we find that there is an unobserved, time-invariant component related to the firm-analyst dimension that explains much of the variance in the absolute forecast errors. This component is not yet captured by the existing observable […]

Mercredi | 2018-11-08 Salle B103 – 12h15 Raphaëlle BELLANDO – Laura-Dona CAPOTA – Sébastien GALANTI Fonds obligataires français : fragilités engendrées par la relation flux-performance

Mercredi | 2018-10-25 Salle B103 – 12h00 Olessia CAILLÉ – Louis RAFFESTIN We provide a model in which banks that share similar portfolios have an incentive to provide each other with favorable lending conditions, in order to avoid fire sales. This mechanism helps to explain the relatively low reaction of interest rates to rising risk in short-term unsecured lending markets during the 2008-2009 crisis. Nevertheless, systemic risk is not necessarily lower when similar banks act supportively, because increased lending between […]

Mardi | 2018-10-23 Salle des thèses 17h – 18h20 Laurent LE MAUX – Emmanuel CARRé Although the literature has analyzed the role of the Federal Reserve as the global lender of last resort in 2007-2009, many aspects of the Dollar Swap Lines to the European Central Bank need further exploration. Using data from both central banks and transcripts of the Federal Open Market Committee’s meetings, we provide original evidence about alloted amounts and interest rates on dollar provision by the […]

Mercredi | 2018-10-18 Salle B103 – 12h00 Robert Christian Serge MEBENGA M’ENAM Dans ce travail, nous procédons à une évaluation des canaux de transmission de la politique monétaire dans la CEMAC à l?aide d?un modèle FAVAR (Factor Augmented Vector Auto Regressive) sur données trimestrielles. Les simulations effectuées sur les taux d?intérêt font apparaître de faibles impacts sur l?activité et les prix. Seules les innovations de masse monétaire présentent de réels effets sur ces variables. Nous exploitons ensuite les propriétés relatives […]

Mardi | 2018-10-09 Salle des thèses 16h – 17h20 Isabelle SALLE – Cars HOMMES – Bruce MCGOUGH – George EVANS We consider boundedly rational agents who do not plan over the infinite future but make trading plans at a finite, arbitrary horizon. We investigate the role of that horizon in the price dynamics of an asset in a Lucas tree model. We then design a laboratory experiment to confront our theoretical predictions to the behaviors of human subjects. Short-horizon markets […]