Mardi | 2013-01-29 B103 Lorenzo CAMPONOVO – Olivier SCAILLET – Fabio TROJANI Testing procedures for predictive regressions with lagged autoregressive variables imply a suboptimal inference in presence of small violations of ideal assumptions. We propose a novel testing framework resistant to such violations, which is consistent with nearly integrated regressors and applicable to multi-predictor settings, when the data may only approximately follow a predictive regression model. The Monte Carlo evidence demonstrates large improvements of our approach, while the empirical analysis […]

Mardi | 2013-01-22 B103 Kim OOSTERLINCK – L. URECHE-RANGAU – Jacques-Marie VASLIN – libre Following Waterloo managing French public finances represented a daunting task. Defeated France had lost a substantial part of its population and of its territory. Part of the country was occupied and France was to pay huge amounts as reparations to the victors. Furthermore France’s reputation had been tarnished by the partial default on its debts in 1797. Despite all these elements, in the ten years between […]

Mercredi | 2013-01-16 B103 Aurélien LEROY

Mardi | 2013-01-16 B103 Cem ERTUR – Antonio MUSOLESI This paper provides an econometric examination of geographic R&D spillovers among countries by focusing on the issue of cross-sectional dependence. By applying several unit root tests, we show that when the number of lags of the autoregressive component of augmented DickeyFuller test-type speciffications or the number of common factors is estimated in a model selection framework, the variables (total factor productivity and the R&D capital stocks) appear to be stationary. Then, […]

Mercredi | 2013-01-09 A105 Asma BEN SAAD-LAKHAL La politique macroprudentielle a suscité l’intérêt des économistes et des responsables depuis la dernière crise. Assurer une politique microprudentielle n’est pas suffisant pour garantir la stabilité financière. Il est nécessaire d’agir via des outils autres que ceux de la politique monétaire pour garder la stabilité économique et limiter le risque systémique.Après la crise des ‘suprimes’, nombreux travaux ont étudié le secteur immobilier américain en tentant d’expliquer les raisons de son effondrement et ses […]

Mercredi | 2012-12-21 B103 Hadi KHALIL

Mardi | 2012-12-18 B103 Louis HOTTE We analyse the general-equilibrium consequences of property right enforcement in the natural resource sector when exclusion is costly to achieve. The key assumption is that exclusion requires both private and public enforcement efforts to supplement each other. Our main question consists in comparing states that differ by their ability to provide protection services. This ability is exogenous and referred to as state capacity. We first show that in a decentralized equilibrium with de jure […]

Mardi | 2012-12-04 B103 Comlanvi Jude EGGOH – Patrick VILLIEU Cet article présente un modèle simple de croissance endogène dans lequel le secteur financier améliore l’efficacité de la transformation de l’épargne en investissement. Le modèle fait apparaître l’existence de trajectoires multiples de croissance endogène à long terme, et la possibilité d’une relation non linéaire entre le développement financier et la croissance, le niveau de développement financier exerçant un effet de seuil dans cette relation. Les tests empiriques réalisés selon la […]

Mercredi | 2012-11-23 Sully 10 Abdelkader BOUDRIGA – Wafa GHARDALLOU- BEN AHMED This paper examines whether the effects of democracy on financial development are influenced by the quality of institutions using a panel dataset of a large sample of developed and developing countries over the period 1984-2006. The results indicate that democracy plays a direct important role in stimulating the financial development. Particularly, effects of democracy on financial development are enhanced by higher levels of economic institutions. Otherwise, development may […]

Mardi | 2012-11-06 B103 Victoria STODDEN xx