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Risk shocks and divergence between the Euro area and the US

Brand, Thomas; Tripier, Fabien - Centre d'études prospectives et d'informations … - 2014

the Euro area. Risk shocks have stimulated US credit and investment growth since the trough of 2009 whereas they have been …

Persistent link: https://www.econbiz.de/10010902179

The Few Leading the Many: Foreign Affiliates and Business Cycle Comovement

Kleinert, Jörn; Martin, Julien; Toubal, Farid - Centre d'études prospectives et d'informations … - 2012

This paper uses micro-data on balance sheets, trade, and the nationality of ownership of firms in France to investigate the effect of foreign multinationals on business cycle comovement. We first show that foreign affiliates, which represent a tiny fraction of all firms, are responsible for a...

Persistent link: https://www.econbiz.de/10010604034

Disaster Risk in a New Keynesian Model

Isoré, Marlène; Szczerbowicz, Urszula - Centre d'études prospectives et d'informations … - 2013

This paper incorporates a small and time-varying “disaster risk” à la Gourio (2012) in a New Keynesian model. A change in the probability of disaster may affect macroeconomic quantities and asset prices. In particular, a higher risk is sufficient to generate a recession without effective...

Persistent link: https://www.econbiz.de/10010660771

Corporate Debt Structure and Economic Recoveries

Grjebine, Thomas; Szczerbowicz, Urszula; Tripier, Fabien - Centre d'études prospectives et d'informations … - 2014

This paper analyzes the business cycle behavior of the corporate debt structure and its interaction with economic recovery. The debt structure is measured as the share of bonds in the total credit to non-financial corporations for a quarterly panel of twenty five economies over the period...

Persistent link: https://www.econbiz.de/10011082728

Immigration, unemployment and GDP in the host country: Bootstrap panel Granger causality analysis on OECD countries

Boubtane, Ekrame; Coulibaly, Dramane; Rault, Christophe - Centre d'études prospectives et d'informations … - 2011

This paper examines the causality relationship between immigration, Unemployment and economic growth of the host … countries (France, Iceland, Norway and United Kingdom), growth positively causes immigration, while in any country, immigration … does not cause growth. …

Persistent link: https://www.econbiz.de/10009391585

More Bankers, More Growth? Evidence from OECD Countries

Capelle-Blancard, Gunther; Labonne, Claire - Centre d'études prospectives et d'informations … - 2011

In this paper, we reexamine empirically the finance/growth nexus. We argue that financial deepening should not only be … relationship between financial deepening and economic growth for OECD countries over the last forty years. …

Persistent link: https://www.econbiz.de/10009644846

Trend Shocks and Economic Development

Naoussi, Claude Francis; Tripier, Fabien - Centre d'études prospectives et d'informations … - 2013

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...

Persistent link: https://www.econbiz.de/10010610335

Measuring Intangible Capital Investment: an Application to the 'French Data'

Delbecque, Vincent; Nayman, Laurence - Centre d'études prospectives et d'informations … - 2010

Following Corrado, Hulten and Sichel (2005) this paper investigates French spending in intangible capital. In this work, we tackle two issues. First, working on national accounting data we sharply investigate the data sources, using detailed supply & use tables taken from the French national...

Persistent link: https://www.econbiz.de/10008520321

Currency Misalignments and Growth: a New Look Using Nonlinear Panel Data Methods

Béreau, Sophie; Villavicencio, Antonia Lopez; Mignon, … - Centre d'études prospectives et d'informations … - 2009

The aim of this paper is to investigate the link between currency misalignments and economic growth. Relying on panel … misalignments have a differentiated impact on economic growth depending on their sign: whereas overvaluations negatively affect … economic growth, real exchange rate undervaluations significantly enhance it. This result indicates that undervaluations may …

Persistent link: https://www.econbiz.de/10008493437

Are Financial Distortions an Impediment to Economic Growth? Evidence from China

Guariglia, Alessandra; Poncet, Sandra - Centre d'études prospectives et d'informations … - 2006

Persistent link: https://www.econbiz.de/10005062814