Publications

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Central banks’ preferences and banking sector vulnerability

Yannick LUCOTTE

According to “Schwartz's conventional wisdom” and what has been called “divine coincidence”, price stability should imply macroeconomic and financial stability.

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Macroprudential and monetary policies: Friends or foes?

Florian Pradines, Y. LUCOTTE, J. GARCIA

The Great Recession during the late 2000s and early 2010s has led to a strengthening of macroprudential policies over the world in order to address systemic risk concerns. However, the effectiveness of those measures remains unclear.

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A New Explanation of the Historical Growth of Government in Europe: The Role of Labor Costs

Mickael MELKI, Andrew PICKERING

We document a robust positive correlation between the size of government and the labor share of income in data from European countries covering the period 1869-1975. Following Facchini et al (2017), we interpret this correlation as evidence that labor costs drive public spending.

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An analytical framework for retailer price and advertising decisions for products with temperature-sensitive demand

Octavio ESCOBAR, Régis CHENAVAZ, Xavier ROUSSET
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Competition and credit procyclicality in European banking

Yannick LUCOTTE

This paper empirically assesses how competition in the banking sector affects credit procyclicality by estimating both an interacted panel VAR model using macroeconomic data and a single-equation model with bank-level data.

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Contagion and Bond Pricing : The Case of the ASEAN Region

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Financing RES with Crowdfunding: Local Scale as a Key Factor?

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GEOGRAPHIC DIMENSION, INFORMATION ASYMMETRY, AND THE SUCCESS OF CROWDFUNDING CAMPAIGNS

Nessrine OMRANI, Charles PEREZ, A. MAALAOUI, G. BERTRAND, R. GERMON

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