Mardi | 2018-09-18 Salle des thèses 16h – 17h20 Thais NUNEZ-ROCHA – Inmaculada MARTıNEZ-ZARZOSO In this paper, we built an environmental regulation index for a panel of countries over the period 1996-2008. The index, based on regulatory-intensity variables specific to a number of environmental topics, is used to investigate the effect of environmental laws on pollution. Three pollutants are considered, namely, PM 2.5, SO2 and NO2. A panel data model is estimated taking into account the determinants of environmental quality […]

Mardi | 2018-09-11 Salle des thèses 16h – 17h20 Natalia ZUGRAVU-SOILITA Based on panel data covering 114 countries, this study investigates the direct, indirect and total effects of trade flows in environmental goods (EGs) on total CO2 and SO2 emissions. Our multiple-equation GMM estimations reveal positive direct scale – [between-industry] composition effects prevailing on the negative direct technique – [within-industry] composition effects (if any), as well as compensating the significant indirect technique effects channelled by the stringency of environmental regulations […]

Mardi | 2018-07-10 Salle des thèses 15h – 16h20 Jarko FIDRMUC – Christa HAINZ – Werner HöLZL Bank lending policy has gained importance since the financial crisis. We study the determinants of firms’ perceived bank lending policy using panel data from the Austrian Business Climate Survey between 2011 and 2016. Our results show that firms’ perceptions of aggregate lending policy depend on their individual credit market experience. Different categories of negative experience, ranging from worse conditions to loan rejections, have […]

Mardi | 2018-07-03 Salle des thèses 16h – 17h20 Isabelle RABAUD – Thierry BAUDASSE – Thierry MONTALIEU The relation between trade and migration is the subject of many controversies. Are substitutions or complementarities at stake? This paper aims to analyze the links between exports of services and immigration. Our sample concerns immigration from 191 countries towards 20 OECD countries in 2000, 2005 and 2010. We show that a higher share of individual country immigrants in the population tend to increase […]

Mardi | 2018-06-26 Salle Sully 5 16h – 17h20 Christian DE PERETTI – Carole SIANI In the context of long memory, the finite-sample distortion of statistic distributions is so large, that bootstrap confidence intervals (percentile and percentile-t) for the long memory parameter do not perform better than the corresponding asymptotic confidence interval. In this paper, we propose confidence intervals based on inverting bootstrap tests for the long memory parameter. Monte Carlo experiments are carried out for assessing the confidence intervals […]

Mardi | 2018-06-19 Salle des thèses 16h – 17h20 Ion LAPTEACRU This paper raises questions about the consistency of the Z-score, which is the most applied accounting-based measure of bank risk in the banking literature. In spite of its advantage, namely the concept of risk on which it relies, the traditional formula is precisely inconsistent with its own concept. The Z-score is deduced from the probability that bank’s losses exceed its capital, but under the very unrealistic assumption of normally […]

Mardi | 2018-06-12 Salle des thèses 16h – 17h20 Jérémy RODRIGUES – Aurélie GAUDIEUX – Jacques VILLENEUVE Local data scarcity may lead Input-Output (I/O) analysts to build aggregated subnational models. Based on the case of the French economy, we claim that local I/O tables should instead be as detailed as the national ones. Any local data – never mind how aggregated – is more thoroughly used to adapt existing detailed national tables, than in an oversimplified model of the local […]

Mardi | 2018-06-05 Salle des thèses 16h – 17h20 Dimitrios ASTERIOU – Kyriaki BEGIAZI Blockchain technology created cryptocurrencies. In January 2018, Bitcoin gained attention, as the most known electronic currency with the highest capitalisation. This paper examines the characteristics of the main cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin, Stellar, NEM, Dash, Monero, Tether) from August 2015 to February 2018. Cryptocurrency index reported a structural break on January 2018, according to Chow breakpoint test. While Bitcoin was already on a steady decline […]

Mardi | 2018-05-29 Salle des thèses 16h – 17h20 Jesus LOPEZ-RODRIGUEZ – Julian VASQUEZ-ROLDAN This paper focuses on the analysis of the role played by market potential in the spatial income structure observed in Colombia over the period 1990-2015. Based on the geographical economics theory we derive the so called nominal wage equation which establishes a relationship between nominal wages and a distance weighted sum of the volume of economic activities in surrounding locations which is usually known as market […]

Mercredi | 2018-05-24 Salle B103 – 12h00 Sullivan HUE – Sessi TOKPAVI – Yannick LUCOTTE Granger-causality measures of interconnectedness between financial institutions are useful indicators of systemic risk (Billio et al., 2012, Journal of Financial Economics), as they help to evaluate to which extent the distress of one institution disseminates across the whole financial system due to the network. This article provides a critical assessment of Granger-causality networks, showing that they can lead to inconsistent measures of systemic risk contributions […]