This paper investigates whether group affiliation and stakeholder's nationality affect both the propensity of engaging in outward FDI and its effects on home performance. Using a sample of French manufacturers, we combine propensity-score matching with a Difference-In-Difference estimator in...

We propose an econometric analysis of the distributive impact of trade flows, foreign direct investment (FDI), official aid and migrants’ remittances. Results suggest that FDI increases inequality, while remittances tend to reduce inequality. Trade and aid have a non-linear relationship with...

This article aims at establishing an understanding of the common risk factors in commodity markets, as well as their interactions with equities, currencies and interest rates. Since commodity markets often exhibit cross-sectional dependency, common risk factors exist and can be identified. By...

Using the structural unobserved component (UC) modeling, this study analyzes the Senegalese economic growth path after 5 decades of independence by focusing on the potential output, the GDP cycle and the type of shocks on the GDP. Empirical evidence suggests that an inventory cycle mainly drives...

This paper develops two nonlinear cointegration models - a VECM with structural shift and a threshold cointegration model - applied to carbon spot and futures prices. The results extend the previous findings by Chevallier (2010), who studied this topic with a linear VECM. First, in the VECM with...

This article investigates the presence of outliers in the volatility of carbon prices. We compute three different measures of volatility for European Union Allowances, based on daily data (EGARCH model), option prices (implied volatility), and intraday data (realized volatility). Based on the...

In the last forty years, the theory of financial markets has become a growing field of interest for academics as well as for practitioners. We present here an overview of the main topics.