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Fusions endogènes : une revue de la littérature

Granier, Laurent - HAL - 2010

This paper analyzes the literature concerning models of endogenous mergers. Traditional models of exogenous mergers … analyze mergers as isolated phenomena. However, some empirical facts about M&A don't seem to be explained in this literature … can give more reliable predictions. In order to better understand the literature, we describe it in two points. First, we …

Persistent link: https://www.econbiz.de/10008789485

The Failure of Financial Macroeconomics and What to Do About it

Chatelain, Jean-Bernard; Ralf, Kirsten - HAL - 2012

The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...

Persistent link: https://www.econbiz.de/10011025682

Macroeconomic Determinants of Migrants' Remittances: New Evidence from a panel VAR

Coulibaly, Dramane - HAL - 2009

This paper examines the macroeconomic determinants of migrants' remittances dynamics. The study uses panel VAR methods in order to compensate for both data limitations and endogeneity among variables. The analysis considers annual data for 14 Latin and Caribbean countries over the period...

Persistent link: https://www.econbiz.de/10011025873

Credit constraints and the cyclicality of R&D investment: Evidence from France

Aghion, Philippe; Askenazy, Philippe; Berman, Nicolas; … - HAL - 2008

We use a French firm-level data set containing 13,000 firms over the period 1993-2004 to analyze the relationship between credit constraints and firms' R&D behavior over the business cycle. Our main results can be summarized as follows: (i) the share of R&D investment over total investment is...

Persistent link: https://www.econbiz.de/10010930234

Classical vs wavelet-based filters Comparative study and application to business cycle

Ahamada, Ibrahim; Jolivaldt, Philippe - HAL - 2010

In this article, we compare the performance of Hodrickk-Prescott and Baxter-King filters with a method of filtering based on the multi-resolution properties of wavelets. We show that overall the three methods remain comparable if the theoretical cyclical component is defined in the usual...

Persistent link: https://www.econbiz.de/10010603666

Are Progressive Fiscal Rules Stabilizing?

Dromel, Nicolas; Pintus, Patrick-Antoine - HAL - 2006

This paper studies how income-based, progressive taxes and transfers may reduce aggregate volatility by protecting the economy against expectation-driven business cycles. Eliminating “local” sunspots that are arbitrarily close to an indeterminate steady state requires, for sensible parameter...

Persistent link: https://www.econbiz.de/10010751034

Alternative Methodology for Turning-Point Detection in Business Cycle : A Wavelet Approach

Addo, Peter Martey; Billio, Monica; Guegan, Dominique - HAL - 2012

We provide a signal modality analysis to characterize and detect nonlinearity schemes in the US Industrial Production Index time series. The analysis is achieved by using the recently proposed 'delay vector variance ' (DVV) method, which examines local predictability of a signal in the phase...

Persistent link: https://www.econbiz.de/10010635209

Business Cycles, Bifurcations and Chaos in a Neo-Classical Model with Investment Dynamics

Hallegatte, Stéphane; Ghil, Michael; Dumas, Patrice; … - HAL - 2008

This paper is motivated by the rising interest in assessing the effect of disruptions in resources and environmental conditions on economic growth. Such an assessment requires, ultimately, the use of truly integrated models of the climate and economic systems. For these purposes, we have...

Persistent link: https://www.econbiz.de/10010691388

Co-Movements of Business Cycles in the Maghreb: Does Trade Matter?

Belhadj, Aram; Eggoh, Jude - HAL - 2011

described in the literature. We use three estimation techniques: pooled OLS, fixed vs. random effects as well as 2SLS …

Persistent link: https://www.econbiz.de/10010821428

Indeterminacy with constant money growth rules and income-based liquidity constraints

Bosi, Stefano; Dufourt, Frederic - HAL - 2008

We study the implications of constant money growth rules on the stability properties of the equilibrium, in economies where the agents are subject to a partial cash-in-advance constraint applying simultaneously to consumption and investment purchases. By reference to similar models in which the...

Persistent link: https://www.econbiz.de/10010898468