Using a broad dataset of individual consolidated data of French banks over the period 1993-2007, we seek to evaluate the sensitivity to adverse macroeconomic scenarios of the three main sources of banking income, namely interest margins, fees and commissions, and trading income. First, we show...

We build a stress testing framework to evaluate the sensitivity of banks' profitability to plausible but severe adverse macroeconomic shocks. Specifically, we test the resilience of French banks using supervisory data over the period 1993-2009. First, we identify the macroeconomic and financial...

Eleven years ago, Mowery studied the role of defense-related R&D in the U.S. national system of innovation. The aim of this article is similar but is based on the European countries that signed the Letter of Intent, with a special focus on France. We first highlight the role of defense in the...

Eleven years ago, Mowery studied the role of defense-related R&D in the U.S. national system of innovation. The aim of this article is similar but is based on the European countries that signed the Letter of Intent, with a special focus on France. We first highlight the role of defense in the...

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly been estimated on cross-sectional data. It considers four nonlinear dynamic simultaneous equations models that include individual effects and idiosyncratic errors correlated...

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly been estimated on cross-sectional data. It considers four nonlinear dynamic simultaneous equations models that include individual effects and idiosyncratic errors correlated...