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, […]

Mardi | 2015-05-05 Sully 5, 16h-17h20 Gancho GANCHEV – Vladimir TSENKOV – Elena STAVROVA The functions of money as medium of exchange and unit of account are closely related to the problems of relative prices formation and the value of money itself. Rejecting the classical dichotomy, we can assume some interaction between the real and the monetary sectors. Following the new trends in monetary theory we focus on the nominal macroeconomic parameters. In particular, econometric research is carried out in […]

Mardi | 2015-04-23 Sully 4, 16h-17h20 Jean-Yves GNABO – Lyudmyla HVOZDYKZ – J erôme LAHAYE This paper studies bivariate tail comovements on fi nancial markets that are of crucial importance for the world economy: the S&P 500, US bonds, and currencies. We propose to study that form of dependence under the lens of cojump identi cation in a bivariate Brownian semimartingale with idiosyncratic jumps, as well as cojumps. Whereas univariate jump identi cation has been widely studied in the high-frequency […]

Mardi | 2015-04-14 Sully 4, 16h-17h20 Mouhamadou FALL – Momar Sylla DIENG Cet article cherche à déterminer les facteurs économiques et non-économiques susceptibles d’influer la consommation d’assurance vie dans la zone UEMOA, tout en essayant de tenir compte des réalités socio-économiques et démographiques de la région. En utilisant les données de panel sur la période 2000-2011, il ressort de nos estimations que l’emploi, le ratio de dépendance jeune, l’urbanisation, l’espérance de vie et le taux d’intérêt sont des facteurs affectant […]

Mercredi | 2015-04-08 salle B103, 12h-14h Nicolas CLOOTENS The paper is not available.

Mardi | 2015-04-07 Sully 5, 16h-17h20 Isabelle RABAUD Services represent nearly 70% of employment and generate more than two thirds of employment, while trade in services accounts for only 20% of total trade. World exports of services appear more resilient to recent crisis than trade in goods. Impediments to trade in services correspond mainly to regulations. This paper aims to look at the impact of the quality of institution on the intensity of bilateral trade in services. We apply a […]

Mercredi | 2015-04-01 salle B103, 12h-14h Robin BOUDIAS The paper is not available.