Mardi | 2013-11-19 Sully 5 Erica R. PEREGO – Wessel N. VERMEULEN This paper studies the dynamic correlation between stocks, between government bonds and between stocks and bonds within the Euro-zone in the last decade. In order to better understand the development of the financial market we argue that it is necessary to analyse all such relations simultaneously rather than focus at one. We firstly calculate the dynamic correlation for the previous asset classes. Results presented at the asset-region level, […]

Mardi | 2013-11-12 salle des thèses Djamel KIRAT This paper investigates the long-term and short-term determinants of the carbon price during the second phase of the European Union Emission Trading Scheme (EU ETS (2008-2012)). As-suming markets efficiency, I examine the extent to which the allowance price can be explained by marginal abatement costs. Specifically, I derive and estimate a structural model of allowance price while accounting for two structural breaks occurred on the carbon spot price series on October 2008 […]

Mercredi | 2013-11-05 Sully 3 Robin BOUDIAS

Mardi | 2013-11-05 B103 Rémi BAZILLIER – Sophie HATTE – Julien VAUDAY The goal of this paper is to study the influence of corporate environmental responsibility(CER) and national environmental standards on the location choices of the 600 biggest European firms. By using the environmental score provided by Vigeo, we are able to test the influence of the environmental performances of firms. We find a negative interaction effect between these environmental performances and national environmental regulations. This result is only valid […]

Mardi | 2013-10-22 salle des thèses Xavier GALIEGUE L’innovation environnementale qui dépasse le seul domaine de l’innovation des éco-industries, connaît à l’heure actuelle un développement considérable. Pourtant ses effets sur la pression environnementale restent encore limités par la persistance d’ « effets rebond », liés la rétroaction exercée par l’amélioration de l’efficience dans l’utilisation des ressources sur leur consommation globale. L’innovation a d’autre part tendance à augmenter la pression sur l’environnement, par le développement des pratiques d’obsolescence programmée, notamment dans […]

Mercredi | 2013-10-22 B103 Rémi BAZILLIER – Ismaël ISSIFOU

Mercredi | 2013-10-17 Sully 9 Oana TOADER

Mardi | 2013-10-15 B103 Nicolas DEBARSY – Fei JIN – Lung-fei LEE This paper considers the large sample properties of the matrix exponential spatial speci cation (MESS) and compares its properties with those of the spatial autoregressive (SAR) model. We nd that the quasimaximum likelihood estimator (QMLE) for the MESS is consistent under heteroskedasticity, a property not shared by the QMLE of the SAR model. For the MESS in both homoskedastic and heteroskedastic cases, consistency is proved and asymptotic distributions […]

Mardi | 2013-10-10 salle des thèses Hyacinthe DEFOUNDOUX – Célestin MAYOUKOU XX

Mardi | 2013-10-08 salle des thèses Mouez FODHA This article analyzes the long-term consequences of nuclear waste storage within a general equilibrium framework. The objective is to determine the conditions for which the storage of waste, and thus the transfer of externalities towards the future, can be optimal. These conditions could explain the implementation of intergenerational externalities, justifying an intertemporal Not In My Back Yard behaviour. We …rst show that the choice of the policy instruments determine the feasibility of […]