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 […]

Mardi | 2014-04-29 Sully 5 Attila GYORGY – Emilian-Constantin MIRICESCU The paper focuses on Romanian experiences regarding the EU funds absorption by administrative-territorial units. Local public authorities implement EU projects in order to develop their communities and to satisfy the people needs by public goods and services. The main issues that we will study in our paper are: (i) the evolution of EU fund absorption in local budgets, (ii) EU project financing throughout local budgets, (iii) the possibilities and opportunities […]

Mardi | 2014-04-29 Sully 5 Rui Henrique ALVES – Andrea STOIAN – Francisco SERRANITO In this paper, we investigate the issues regarding the stabilization of public debt and its decrease down to 60 per cent of GDP for selected european union countries using the primary balance derived from the public debt dynamic model as a leading indicator. We find that there is a high probability of stabilizing public debt at its 2014 level conditional on achieving an increased GDP growth […]

Mardi | 2014-04-15 Sully 5 Paul MAAREK – Elsa ORGIAZZI We highlight a U-shaped relationship between development and the labor share of income. We exploit the within dimension of a panel dataset for the wage bill and value added in the manufacturing sector for developing countries. Data is available at the aggregate manufacturing level and also at the desaggregate level for 28 manufacturing sub sectors. We show that the U-shaped pattern of the labor share we observe at the aggregate […]

Mercredi | 2014-04-09 B103 Asma BEN SAAD-LAKHAL L’impact de l’immobilier sur la conjoncture économique, pendant les conditions favorables tout comme lors des crises, se diffère d’un pays à un autre. Les caractéristiques économiques, les spécificités institutionnelles,l’intervention des autorités et les conditions de financement propres à chaque pays conditionnent le poids de l’investissement résidentiel dans l’évolution économique. Dans ce papier, nous nous intéressons à la contribution de l’investissement résidentiel Français autour de la période de ralentissement mesuré par la méthodologie de […]

Mardi | 2014-04-08 Sully 5 Jean DUBE – Diègo LEGROS This paper addresses the possible problem related to using strictly spatial modelling techniques for spatial data pooled over time. For these data, such as real estate, the spatial dimension is present, but subject to constraints related to temporal dimension. Three empirical examples are presented to investigate the impact of neglecting the temporal dimension in spatial analysis and to show how such an approach overestimates the pattern of spatial dependence, and […]

Mardi | 2014-04-01 Sully 5 Djamel KIRAT – Ibrahim AHAMADA – Mouez FODHA Pas d’article, SLIDE

Mardi | 2014-04-01 Sully 5 E. COURTIAL – Christelle GARROUSTE Energy prices and environmental policies influence more than ever employment trends across the world. The purpose of this paper is to develop a strategy to enhance the employability of French graduates in a eld that is both a key driver and a signifi cant target of these new trends, namely Earth Sciences. The aim is to provide French universities with a predictive tool to adjust e fficiently their skills’ supply […]

Mardi | 2014-03-25 Salle des thèses Stéphanie COLLET – Kim OOSTERLINCK The impact of sovereign debt repudiation is relatively well documented. The market reactions to warnings regarding a repudiation have however never been investigated. Are organized protests and the threat of a possible future repudiation perceived as credible by the markets? This paper analyzes the case of the Russian 1906 loan. Protests were staged against the loan which was viewed by the opposition to the autocratic tsarist regime as a […]

Mardi | 2014-03-25 Salle des thèses Stéphanie COLLET “Unfair” sovereign debts, used, for instance, to suppress a rebellion, may be declared “odious” and not be repaid once the former regime is overthrown. Bondholders may there-fore require a premium to compensate for the higher default risk due to the potentially odious character of these debts. On the basis of an original database of Cuban bonds, the paper shows the existence of a risk premium of at least 200 basis points which […]