This paper analyses the determinants of the investment decision by focusing on the firms subjective judgments about the impact of some economic factors. This work uses data from the INSEEs business surveys on investment in the industry, over the period 1991-2002. In October, these data contain...

À la lumière des informations issues des enquêtes Patrimoine 2004 et 2010 de l’INSEE et des évaluations des comptes nationaux financiers établis par la Banque de France, l’article propose une première analyse des ajustements patrimoniaux des ménages français depuis 2007.

Cet article expose la problématique de la volatilité des prix des matières premières, montre quels sont les moyens pour s’en protéger et explique comment les employer. Les instruments de couverture sont présentés en première section, en distinguant le type de besoin auquel ils...

This paper presents the literature about econometric learning and its impact on the performances of monetary policy rules in the framework of the new canonical macroeconomic model. Rational expectations which are a building block of the original model can thus be replaced by expectations based...

The food crisis of 2007-2008 and the resulting urban riots observed in about forty developing countries placed the question of price instability at the very heart of the debate. The paper states that, since the 80s, the prevailing idea is that the best option is to manage risks without...

This survey appears in extension of a previous exploratory survey (Bouraoui, 2008) dedicated to the impact of stock spams on volumes. The interest of the present research is to study the impact on stock prices while taking into account the evolution of volatility over time through a GARCH (1,1)...

Using Consensus Forecasts monthly surveys, we show that experts' interest rate expectations in the Eurofranc market do not verify the rational expectations hypothesis. Instead, these expectations are found to be generated by a mixed process combining the traditional adaptive, regressive and...

Developing a model with a switching mechanism, we show how complex dynamics can be generated even though heterogeneity arises among agents with the same trading rules (fundamentalists). We assume that there are two experts which are imitated by other operators. We show that (i) market...

Aggregate art price patterns mask a lot of underlying variation — both in the time series and in the cross-section. We argue that, to increase our understanding of the market for aesthetics, it is helpful to take a micro perspective on the formation of art prices, and acknowledge that each...

In the 1970s, Thomas C. Schelling proposed a model which claimed to show that a high degree of spatial segregation can result from individual preferences which do not in themselves aim to achieve such a degree of collective segregation. A perverse effect seems therefore to occur. However, the...