Publications of the Chair

Potential Impediments to Long-Term and Low-Carbon Investment: The International Accounting Standards at Stake

2018
Authors :
Samira Demaria et Sandra Rigot

The paper shows that International Financial Reporting Standards (IFRS) can affect long-term asset allocation of banks and insurance companies. International accounting standards do not differentiate between low and carbon intensive investment and do not take into account climate risks beforehand.

Optimal Policy and Network Effects for the Deployment of Zero Emission Vehicles

2018
Authors :
Guy Meunier, Jean-Pierre Ponssard

This working paper analyzes the impact of indirect network effects in the deployment of zero emission vehicles in a static partial equilibrium model.

Corporate Governance as a Key Driver of Corporate Sustainability in France: The Role of Board Members and Investor Relations

2018
Authors :
Patricia Crifo, Elena Escrig-Olmedo, Nicolas Mottis

This paper examines the relationships between corporate governance and corporate sustainability by focusing on two main components of companies’ governance structure: boards of directors and investor relations officers.

Economic and Environmental Implications of Hydropower Concession Renewals: A Case Study in Southern France

2018
Authors :
Federico Pontoni, Anna Creti et Marc Joëts

this article analyzes the effect of the re-assignement of the French hydropower concessions through a competitive public procedure. It is based on the exemple of the Aspe valley, where more than 100 MW of hydro capacity is installed.

Inventory growth cycles with debt-financed investment

2018
Authors :
Matheus R. Grasselli, Adrien Nguyen-Huu

We propose a continuous-time stock-flow consistent model for inventory dynamics in an economy with firms, banks, and households.

Competition between renewable and traditional power producers: how spot market design influences the emergence of strategic investments in renewable capacity

2018
Authors :
Silvia Concettini

We introduce a theoretical framework for the analysis of competition between a traditional and a renewable generator in a spot electricity market where the electricity from renewable sources is always the first to be dispatched.

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

2018
Authors :
Samira Demaria, Sandra Rigot

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

2018
Authors :
Yu-Jui Huang, Adrien Nguyen Huu.

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

2017
Authors :
Gaël Giraud, Hadrien Lantremange, Emeric Nicolas, Olivier Rech

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

2017
Authors :
Michaël Ghil, Celian Colon

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.