Mardi | 2016-03-01 16h-17h20 Sully05 Jean-Bernard CHATELAIN – Kirsten RALF Assuming inflation is a forward variable in Taylor (1999) model, this paper finds opposite policy rule recommendations with countercyclical policy rule parameters (Taylor principle: inflation rule larger than one and bounded upwards) in the case of optimal policy under commitment versus pro-cyclical policy rule parameters (inflation rule parameter below zero) in the case of discretionary policy. For the observed high inertia of the Fed with tiny variations of the nominal […]

Mercredi | 2016-02-24 B212 -12h Nicolas CLOOTENS A venir

Mardi | 2016-02-23 16-17h20 Sully-05 Malik KERKOUR – Jean-Yves GNABO – Christelle LECOURT – Helene REYMOND Sovereign wealth funds (SWFs) have been increasingly active over the past decade, raising concern from governments regarding their actual motives and potential cross-border stakes in national strategic sectors. The aim of this paper is to contribute to the existing literature to understand better the decisions taken by this new class of investors. The whole process of investment decision strategy is complex in the sense […]

Mardi | 2016-02-09 Salle Sully 5, 16h00 à 17h20 This paper studies the lifetime effects of exogenous changes in health insurance coverage (e.g. Medicare, PPACA, termination of employer-provided plans) on the dynamic optimal allocation (consumption, leisure, health expenditures), status (health, wealth and survival rates), and welfare. We solve, structurally estimate, and simulate a parsimonious life cycle model with endogenous exposure to morbidity and mortality risks to analyze the impact of young (resp. old) insurance status conditional on old (resp. young) […]

Mercredi | 2016-02-03 B103. 12h Marie-Laure LE BERRIGAUD « L’association est indissociable d’un projet collectif déterminé par ses membres » (Laville, 2013). Les définitions académiques proposées par la littérature s’accordent presque toutes à dire que le projet est défini par une temporalité bornée. Cela signifie-t-il donc que le projet s’achève ? Peut-on parler d’aboutissement dans le cadre du projet associatif ? Notre recherche linguistique montre que le projet associatif peut se qualifier par plusieurs dimensions à temporalités différentes, dont l’une […]

Mardi | 2016-02-02 16h00-17h20 en Sully 5 andrew CLARK – MARTA BARAZZETTA – CONCHITA D’AMBROSIO We here consider the adult cognitive and non-cognitive consequences of growing up with a mother who reported major financial problems. Data from the Avon Longitudinal Study of Parents and Children show that mother’s major financial problems are associated with worse cognitive and non-cognitive outcomes in adolescence, even after controlling for both income and a set of standard variables. Further, the major financial problems effect is […]

Mercredi | 2016-01-27 B103-12h Réda MARAKBI – Camélia TURCU A venir

Mardi | 2016-01-26 Sully 5 de 16h à 17h20 Daria ONORI – Cyrille PIATECKI – Diana-Andrada FILIP This paper studies the relationship between property rights effectiveness, growth and welfare. To this end, we modify Gonzalez [13]’s endogenous growth model by assuming that the population is divided into two groups of consumers-producers: honest agents, who do not challenge the others property, and cheaters, who grab a part of honest people’ss production. The assumption of heterogeneous agents has many important consequences on […]

Mercredi | 2016-01-20 B103 à 12H Ismaël ISSIFOU A venir

Mardi | 2016-01-12 Sully 5 de 16 à 17h20 Olivier SCAILLET – Antonio COSMA – Stefano GALLUCCIO – Pederzoli PAOLA We introduce a fast and widely applicable numerical pricing method by recursive projections. We characterise its convergence speed. We find that the early exercise boundary of an American call option on a discrete dividend paying stock is higher under the Merton and Heston models than under the Black-Scholes model, as opposite to the continuous dividend yield case. A large database […]