Mardi | 2014-06-10 Salle des thèses Yun (Eric) MENG – Cristos PANTZALIS Lottery-type stocks outperform the rest at the turn of the month. This effect is particularly pronounced among firms located in areas whose demographic profile resembles that of the typical lottery-ticket buyers (i.e. gamblers) and partially driven by the within-month cyclicality of local investors’ personal liquidity positions. Consistent with the notion that gambling is associated with inattention, we find underreaction to earnings news issued by lottery-type firms located in […]

Mercredi | 2014-06-04 Salle B103 Christian Rodrigue TAGNE

Mercredi | 2014-05-28 Salle B103 The objective of the present paper is to give some policy recommendations to improve environmental quality in a context of debt consolidation. For that purpose, we develop an overlapping generation model in which we include public debt and we modelize the two-way causality between life expectancy and the environment. We find that a voluntarist environmental policy may allow a country to escape the environmental poverty trap, or may help a country to reach a higher […]

Mardi | 2014-05-27 Salle des thèses Patrick VILLIEU – Maxime MENUET XX

Mercredi | 2014-05-21 Salle B103 – 16h20 Leonardo Eric CALCAGNO Using a standard microsimulation framework, this paper intends to draw perspectives on Argentina’s pension system from a household-level quarterly survey data, the EPH. After describing the country’s current public Pay-As You-Go pension system, this paper uses the country’s house-hold survey’s labour market related data to describe and estimate transitions between labour market states for individuals of working age. Finally, together with demographic data provided by Argentina’s statistical body INDEC, we […]

Mardi | 2014-05-20 Salle des thèses Julien CHEVALIER – Stéphane GOUTTE xx

Mercredi | 2014-05-14 Salle B103 Eric YAYI Cet article se propose d’étudier la participation des ménages au marché financier ainsi que l’influence du cycle de vie sur les choix de portefeuille au sein de la zone euro. L’analyse empirique s’appuie sur les données de l’enquête sur les finances et la consommation des ménages (HFCS 2013), une nouvelle base de données harmonisées renseignant sur différents aspects du bilan des ménages. Nous identifions d’une part l’influence du cycle de vie sur les […]

Mardi | 2014-05-13 Salle des thèses Jean-Bernard CHATELAIN – Kirsten RALF This paper investigates the identification, the determinacy and the stability of ad hoc, ”quasi-optimal” and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest rates, when the central bank precommits to financial stability. Firstly, ad hoc and quasi optimal rules parameters of financial stability indicators cannot be identified. For those rules, non zero […]

Mercredi | 2014-05-07 B103 Constant FOUOPI L’objectif de la présente étude est d’évaluer l’influence des dépenses publiques sur la croissance économique dans les pays membre de la Communauté Economique et Monétaire d’Afrique Centrale (CEMAC). En particulier, il s’agit d’expliquer l’influence de la composition des dépenses publiques sur la croissance économiques dans ces pays. Beaucoup de travaux qui ont exploré la relation dépenses publiques et croissance économique mais la mise en relation de la composition de ces dépenses publiques et la […]

Mardi | 2014-05-06 Salle des thèses Tsvetelina MARIVONA – Nikolay NENOVSKY This article studies budgetary positions and trends in sovereign debt levels in two groups of EU Member States during the global financial and economic crisis. We argue that current fiscal positions and trends in sovereign debt in the Baltic states and Bulgaria are above all due to the implemented exchange rate mechanism whereas in the southern European countries and Ireland it is the institutional framework of the eurozone that […]