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Measuring the NAIRU: a complementary approach
De la Serve, M-E.; Lemoine, M. - Banque de France - 2011
Estimates of the Nairu generally suffer from a large uncertainty, which can be reduced by adopting a bivariate framework and assuming that shifts of the Phillips curve share a common trend with the unemployment rate. We consider in this paper if this common trend assumption is empirically...
Persistent link: https://www.econbiz.de/10009293540
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Défiscalisation des heures supplémentaires: une perspective d'équilibre général.
Matheron, J. - Banque de France - 2010
This paper characterizes the short- and long-run effects of overtime de-taxation. A dynamic general equilibrium with overtime hours is first developed and calibrated to French data. A fiscal shock consisting of a complete de-taxation of overtime hours is then implemented in the model. Several...
Persistent link: https://www.econbiz.de/10008764809
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Wage rigidity, collective bargaining and the minimum wage: evidence from French agreement data.
Avouyi-Dovi, S.; Fougère, D.; Gautier, E. - Banque de France - 2010
We highlight different stylized facts concerning wage stickiness. First, in France, the typical duration of a wage agreement is one year. Consequently, a Taylor (1980) -type model appears to reproduce appropriately the distribution of agreement durations. Some 30 percent of settlements stipulate...
Persistent link: https://www.econbiz.de/10008511688
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Heterogeneous Banking Efficiency: Allocative Distortions and Lending Fluctuations.
Duprey, T. - Banque de France - 2013
This paper is a first attempt to connect the heterogeneity in bank efficiency with lending fluctuations and allocation efficiency : there is a trade-off between the two in the presence of heterogeneity in bank monitoring efficiency. The mechanism at hand is twofold. (a) First the rent extracted...
Persistent link: https://www.econbiz.de/10010726923
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Sequential Coordination, Higher-Order Belief Dynamics and E-Stability Principle.
Gaballo, G. - Banque de France - 2014
This paper explores convergence in higher-order beliefs - otherwise called eductive stability - when coordination is … in case of strategic complementarity. In particular eductive stability can be obtained for any degree of substitutability … eductive convergence occurs at the same conditions of adaptive convergence, in accordance to the E-stability principle. …
Persistent link: https://www.econbiz.de/10010933700
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The Price of Stability. The balance sheet policy of the Banque de France and the Gold Standard (1880-1914).
Bazot, G.; Bordo, M. D.; Monnet, E. - Banque de France - 2014
in smoothing international shocks and in maintaining the stability of the discount rate. This policy provides a striking …
Persistent link: https://www.econbiz.de/10010936627
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Is there a structural break in equilibrium velocity in the euro area?
Bordes, C.; Clerc, L.; Marimoutou, V. - Banque de France - 2007
We investigate the stability of M3 income velocity in the euro area. We apply a set of breakpoint procedures to examine …
Persistent link: https://www.econbiz.de/10004998833
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The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence.
Fabiani, S.; Druant, M.; Hernando, I.; Kwapil, C.; … - Banque de France - 2005
This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that firms operate in monopolistically competitive markets, where...
Persistent link: https://www.econbiz.de/10005056521
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Financial fragility in small open economies: firm balance sheets and the sectoral structure
Kalantzis, Y. - Banque de France - 2014
Episodes of large capital inflows in small open economies are often associated with a shift of resources from the tradable to the non-tradable sector and sometimes lead to balance-of-payments crises. This paper builds a two-sector dynamic model to study the evolution of the sectoral structure...
Persistent link: https://www.econbiz.de/10010891764
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Croissance économique et diffusion des TIC : le cas de la France sur longue période (1980-2000).
Cette, G.; Mairesse, J.; Kocoglu, Y. - Banque de France - 2001
La contribution des technologies de l'information et de la communication (TIC) à la croissance du PIB et de la productivité du travail serait en France de l'ordre de 0,2 à 0,3 % par an sur l'ensemble de la période 1980-2000. Elle aurait connu une forte augmentation sur la seconde moitié des...
Persistent link: https://www.econbiz.de/10005036189