This article explores the role of trend shocks in explaining the specificities of business cycles in Sub-Saharan African (SSA) countries using the methodology introduced by Aguiar and Gopinath (2007) [Emerging Market Business Cycles: The Cycle Is the Trend Journal of Political Economy 115(1)]....

Cet article propose une revue de la littérature sur les modèles d'équilibre général dynamique et stochastique appliqués aux pays d'Afrique Sub-saharienne. Cette littérature a pour double objectif (i) d'identifier les facteurs spécifiques à ces économies susceptibles d'expliquer leur...

This article explores the role of trend shocks in explaining the specificities of business cycles in developing countries using the methodology introduced by Aguiar and Gopinath (2007) [“Emerging Market Business Cycles: The Cycle Is the Trend” Journal of Political Economy 115(1)]. We specify...

The present paper contributes to the body of knowledge on search frictions in credit markets by demonstrating their ability to explain why the net interest margins of banks behave countercyclically. During periods of expansion, a fall in the net interest margin proceeds from two mechanisms: (i)...

The present paper contributes to the body of knowledge on search frictions in credit markets by demonstrating their ability to explain why the net interest margins of banks behave countercyclically. During periods of expansion, a fall in the net interest margin proceeds from two mechanisms: (i)...

La crise récente a souligné la nécessité de mieux comprendre les liens entre les marchés financiers et les cycles économiques. Cette Lettre présente les résultats d’une recherche sur le rôle de la composition de la dette des entreprises. L’étude de 93 épisodes de récession dans...

This article is devoted to the cyclical properties of the labor market search model with exogenous job destruction. Its internal propagation mechanism of shocks has been criticized for requiring too strong labor market constraints. Here, its predictions are compared according to the employment...

When an household needs to change its home, a new house must be bought and the old one must be sold. In order to complete these two transactions, the household can adopt either a sequential or a simultaneous search strategy. In sequential strategies, it first buys (or sells) and only after tries...