Archives

Is fair value accounting short-term approach? The views of respondents to the Green Paper on the financing of long-term investment

This article seeks to investigate whether the fair value accounting may have short-termist bias on the financing of long-term investment.

Time-consistent stopping under decreasing impatience

Under non-exponential discounting, we develop a dynamic theory for stopping problems in continuous time. Our framework covers discount functions that induce decreasing impatience. Due to the inherent time inconsistency, we look for equilibrium stopping policies, formulated as fixed points of an operator. Under appropriate conditions, fixed-point iterations converge to equilibrium stopping policies.

National Carbon Reduction Commitments: Identifying the Most Consensual Burden Sharing

How could the burden of GHG emission reduction be shared among countries? The article address this arguably basic question by purely statistical methods that do not rely on any normative judgment about the criteria according to which it should be answered.

Economic networks: Heterogeneity-induced vulnerability and loss of synchronization

Interconnected systems are prone to propagation of disturbances, which can undermine their resilience to external perturbations. Propagation dynamics can clearly be affected by potential time delays in the underlying processes. We investigate how such delays influence the resilience of production networks facing disruption of supply.

Doctoral Thesis – Macroeconomists and the stagflation. Essays on macroeconomy’s transformation in the 1970’e

This thesis’ goal is to study the influence of New Classical economists on macroeconomics in the 1970s, by appealing to an historiographical framework which puts at the heart the role played by the stagflation, and by confronting the results of this work to the standard narrative.

Testing Goodwin with a Stochastic Differential Approach – The United States (1948 – 2017)

The goal of this paper is to propose and test stochastic differential equations for Goodwin’s model and one of its extension by using an estimation technique based on simulated maximum likelihood developed by Durham and Gallant (2002)

Presentations of the third workshop on sustainable mobility

The Chair Energy and Prosperity Organized its thirs Workshop on Sustainable Mobility on November 9-10. You can download in this article the workshop’s summary and all the speakers’ presentations.

Stagflation and the crossroad in macroeconomics: the struggle between structural and New Classical macroeconometrics

The article studies the 1978 macroeconomics conference titled “After the Phillips Curve”, where Lucas and Sargent presented their fierce attack against structural macroeconometric models, “After Keynesian Macroeconomics”. It aims at enlarging the comprehension of changes in macroeconomics in the 1970s.

Using Output-Based Allocations to Manage Volatility and Leakage in Pollution Markets

Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and volatility.

Output-based allocations in pollution markets with uncertainty and self-selection

The paper studies pollution permit markets in which a fraction of permits are allocated to firms based on their output. Output-based allocations, which are receiving increasing attention in the design of carbon markets around the world are shown to be optimal under demand and supply volatility despite the output distortions they may create.