Année : 2017

Mardi | 2017-12-19 Salle des thèses 16h – 17h20 Pierrick CLERC Existing business-cycle models for which firms unilaterally adjust labor along both the intensive and extensive margins have difficulties in reproducing the dynamics of employment and hours per worker. Within a New-Keynesian framework with search frictions in the labor market, we show that a much higher pro-cyclicality for marginal labor cost than for average labor cost, in accordance with empirical observations, is a crucial mechanism for replicating labor-market fluctuations. At […]

Mardi | 2017-12-12 Salle des thèses 16h – 17h20 Daria ONORI – Antoine LE RICHE We consider an infinite horizon monetary economy and study the effects of collaterals on credit market on the steady-state features, on the welfare properties and on the business cycle. Capital plays the role of collateral: the share of consumption that must be paid in cash depends negatively on the stock of capital held by the households. The monetary policy is conducted by the Central Bank […]

Mardi | 2017-12-05 Sully 5 Charlotte EMLINGER – Sabine DUVALEIX-TREGUER – Carl GAIGNé – Karine LATOUCHE The paper questions the impact of geographical indication label on firm export competitiveness in the cheese and cream industry. We use firm level data from the French custom and an original dataset of firms and products concerned by protected designations of origin (PDO). Our econometric estimations show that PDO labelling impacts both the extensive margin and the intensive margin of trade (the value of […]

Mardi | 2017-11-28 Salle des thèses 16h – 17h20 Panayiotis ANDREOU – Franco FIORDELISI – Terry HARRIS – Dennis PHILIP This paper develops a measure of competition orientation based on textual analysis of managements’ disclosures in their 10-K filings. Using this measure, we provide evidence regarding institutional investors’ preferences and behind‐the‐scenes interventions. In particular, we show that transient institutional ownership intensifies firms’ competition orientation, while dedicated institutional ownership lessens it. Further, we demonstrate that as firms intensify competition orientation, they […]

Mardi | 2017-11-21 Salle des thèses 16h – 17h20 Ahmed TRITAH – Catherine LAFFINEUR – Eva MORENO-GALBIS – Jeremy TANGUY Over the last two decades, despite similar employment dynamics, immigrants and natives in France have experienced sharp differences in wage changes along the occupational wage distribution. Immigrants’ wage growth has outperformed that of natives along the whole occupational wage distribution. We explain this pattern within a Roy-type wage setting and relate changes in the occupational wage distribution to changes in […]

Mardi | 2017-11-14 Salle des thèses 16h – 17h20 Florence PUECH – Sandra NEVOUX – Eric MARCON This paper aims at assessing the local diffusion of short-time work. We argue that the geographical proximity of establishments having already used short-time work in the past is a major information channel regarding this scheme. Relying on distance-based methods, our stylized facts highlight the spatial and dynamic concentration of short-time work use in France between 2002 and 2014. Our econometric analysis reveals that […]

Mercredi | 2017-11-09 Salle B103 – 12h00 Cherry MOUNIR SAAD KHALIL This paper aims to investigate the effect that infrastructure quality and accessibility have on the extensive and intensive export margins of manufacturing firms in Egypt. Using firm-level data from the World Bank’s enterprise survey for the years 2007 and 2013, we attempt to link Egyptian firms’ heterogeneity in productivity and characteristics related to the access toinfrastructure such as transport, telecommunication, power generation and water and sanitation, with their trade […]

Mardi | 2017-11-07 Salle des thèses 16h – 17h20 Angela CHEPTEA – Charlotte EMLINGER – Karine LATOUCHE This paper questions the impact of the globalization of the retail sector on the export activity of origin country agri-food firms. We use an original firm-level database of French agri-food exports that identifies the domestic suppliers of French retailers through certification with the private IFS standard. Results show that IFS certified French firms are more likely to export and export larger volumes than […]

Mardi | 2017-10-24 Salle des thèses 16h – 17h20 Julien IDIER – Thibaut PIQUARD We propose in this paper a simulation framework of pandemic in financial system composed of banks, asset markets and interbank markets. This framework aims at complementing the usual stress-test strategies that evaluate the impact of shocks on individual balance-sheets without taking into account the interactions between several components of the financial system. We build on the network model of Gourieroux, Heam, and Monfort (2012) for the […]

Mardi | 2017-10-17 Salle des thèses 16h – 17h20 Guillaume CHEVILLON – Alain HECQ – Sébastien LAURENT This paper shows that a large dimensional vector autoregressive model (VAR) of finite order can generate fractional integration in the marginalized univariate series. We derive high-level assumptions under which the final equation representation of a VAR(1) leads to univariate fractional white noises and verify the validity of these assumptions for two specific models.