Mardi | 2021-11-30 16h – Salle des thèses VOLKER NITSCH When one country imposes financial sanctions against another country, its domestic banks must end business relations with targeted counterparties. Based on regulatory data, we show that banks domiciled in Germany reduce lending in countries targeted by German sanctions. However, German bank subsidiaries and branches domiciled abroad increase their positions in the sanctioned countries by 44% relative to their parent banks at home. This incremental effect increases to 95% for German […]

Mardi | 2021-11-23 16h – B103 What is the role market- and bank-based debt play in the climate transition process? We presentevidence that bond markets price the risk that assets held by fossil fuel firms strand, while banks inthe syndicated loan market seemingly do not price this risk much. Consequently, to fulfill theirfinancing needs fossil fuel firms increasingly rely less on bonds and more on loans. We caninterpret the within-firm bond-to-loan substitution along stranding risk as a contraction in the […]

Mercredi | 2021-11-18 B103 – 12h00 Jentry JONES Is it easier or harder to bargain in a multidimensional bargaining setting? Though multidimensional bargaining settings are common, different literatures have different answers. Individuals’ interests are not necessarily diametrically opposed in multiple dimensions, but multiple dimensions are conceptually more challenging and may unintentionally lead to an increased dependence on heuristics. This experiment uses an induced value, bidimensional Nash Demand Game to investigate how a multidimensional framing of the bargaining setting can affect […]

Mercredi | 2021-10-07 Salle des thèses – 12h Hugo ORIOLA – Patrick VILLIEU – Maxime MENUET This article challenges the claim that an independent conservative central bank strengthens the chances of a conservative government. In contrast, if the election is based on the comparative advantages of the different candidates, an inflation-fighter central banker can deter the chances of a conservative candidate, because, once inflation is removed, its comparative advantage in the fight against inflation disappears. Theoretically, in a policy-mix game […]

Raphael DANINO-PERRAUD, « Les politiques d’approvisionnement en minerais critiques: Une analyse combinée de la chaîne de valeur et des flux de cobalt dans l’Union européenne » (sous la direction de Xavier GALIEGUE), soutenue le 08 février 2021.Consultez la publicité de soutenance Alexis CHOLLET « Incidences des normes de liquidités sur les modèles bancaires » (sous la direction de Raphaëlle BELLANDO), soutenue le 19 mars 2021.Consultez la publicité de soutenance Evrard MOUNKALA  « Rigidités nominales, noyau d’inflation et croissance dans la Communauté Economique et Monétaire de l’Afrique […]

Marcel Voia est co organisateur de la Conférence (format hybride: en ligne et sur place). Les conférenciers invités sont: – Marty Eichenbaum, Northwestern University – Rema Hanna, Harvard Kennedy School – Bo Honore, Princeton University – BotondKoszegi, Central European University Plus d’informations ici

Mercredi | 2021-06-17 11h00 – C202 Sahar AMIDI – Thais NUNEZ-ROCHA – Isabelle RABAUD – Rezgar FEIZI Finding the best way to reduce pollution in a world with growing environmental concerns is important for decisions makers. Some scholars hold that a global carbon tax is the bestpolicy for reduced pollution. With the rising role of globalization, assessing the impacts of carbon taxation on carbon emissions embodied in the trade becomes a key question, however,this question has been overlooked. This is […]

Mardi | 2021-05-18 16H00 – Webinar Gianfranco GIANFRATE Executive ownership addresses agency problems by aligning the financial goals of management and shareholders. We explore whether executive ownership fosters non-financial sustainability footprint as well. We show that executive ownership and insider trading activities are negatively associated with firm environmental and social performance. A quasi-natural experiment shows that the inverse relationship between executive ownership and sustainability performance is causal. Our results suggest that ad hoc incentive mechanisms besides executive ownership should be […]

Mardi | 2021-04-06 16H00 – Webinar Marion DAVIN – Karine CONSTANT This article examines how pollution and its health effects during childhood can affect the dynamics of inequalities among households. In a model in which children’s health is endogenously determined by pollution and the health investments of parents, we show that the economy may exhibit inequality in the long run and be stuck in an inequality trap with steadily increasing disparities, because of pollution. We investigate if an environmental policy, […]

Mardi | 2021-03-30 16H00 – Webinar Elena-Ivona DUMITRESCU We discuss cointegration relationships when covariance stationary observables exhibit unbalanced integration orders. Least squares type estimates of the long run coefficient are expected to converge either to 0 or to infinity if one does not account for the true unknown unbalance parameter. We propose a class of narrow-band weighted non-linear least squares estimators of these two parameters and analyse its asymptotic properties. The limit distribution is shown to be Gaussian, albeit singular, […]