Matthieu PICAULT

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PICAULT
Matthieu

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Domaine de recherche : Macroéconomie et Finance

Bureau : A216

E-mail : matthieu.picault@univ-orleans.fr

Site internet : Page personnelle

Responsabilités

Vice-Doyen en charge de la Pédagogie et des Formations, Composante DEG.

Travaux

  • Publications dans des revues scientifiques
  • Ouvrages et rapports
  • Documents de travail et autres publications
  • Communications

2023

Taxing Banks Leverage and Syndicated Lending: A Cross-Country Comparison

Aurore Burietz, Steven Ongena, Matthieu Picault

SSRN Electronic Journal - 2023-03

Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks’ liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks’ participation in the syndicated loan market. We further investigate the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more capital constrained.
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2022

Media sentiment on monetary policy: Determinants and relevance for inflation expectations

Matthieu Picault, Julien Pinter, Thomas Renault

Journal of International Money and Finance - 2022-06

We construct a new indicator to capture media sentiment about the European Central Bank monetary policy and its relevant environment by analyzing 25,000 articles from five major international newspapers. Using named entity recognition and part-of-speech tagging, we propose a methodology to dissociate the dissemination of official communications of the central bank from the media comments. The resulting (daily) index correlates with some (monthly) standard measures of economic sentiment but reveals idiosyncratic information on monetary policy. Analyzing the determinants of our index, we find that both press conference and inter-meeting communications of the President significantly affect media sentiment. We then show that, controlling for a large range of factors, daily changes in media sentiment have predictive power for financial market inflation expectations.
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2020

The other side of forward guidance: Are central banks constrained by financial markets?

Matthieu Picault, Louis Raffestin

Finance Research Letters - 2020-12

Résumé non disponible.

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2017

Words are not all created equal: A new measure of ECB communication

Matthieu Picault, Thomas Renault

Journal of International Money and Finance - 2017-12

Résumé non disponible.

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Pricing the ECB's forward guidance with the EONIA swap curve

Matthieu Picault

International Journal of Finance & Economics - 2017-04

Résumé non disponible.

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L’évolution de la communication des banques centrales depuis les crises des subprimes et de l’euro

Alexandre Girard, Matthieu Picault

Reflets et Perspectives de la vie économique - 2017

Résumé non disponible.

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Aucune publication disponible pour le moment.

2022

Lenders’ asymmetric reaction to the ECB’s monetary policy: The case of the syndicated loan market

Aurore Burietz, Matthieu Picault

2022-03

Résumé non disponible.

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Aucune publication disponible pour le moment.