This paper evaluates the information content of the term structure about future changes in interest rates and changes in inflation rate, in France. A data set has been constructed, which contains zero-coupon yield curves on government bonds over the period 1980-95. The information content is...

This paper focuses on the expectations hypothesis of the term structure on long-term government bonds. Adopting the approach proposed by Campbell and Shiller [1991], we obtain ambiguous results, similar to the puzzle highlighted by these authors with US data. Analyzing stationarity of excess...

[fre] Choix de portefeuille des ménages et actifs à faible risque. Une évaluation de la déréglementation des marchés financiers. . Les OPCVM de court terme jouent un rôle majeur dans la déformation de la structure des placements des ménages au cours des années quatre-vingt. Dans le...

This paper aims at providing some empirical evidence about the impact of monetary policy on bank lending at the microeconomic level. We estimate a model close to that proposed by Kashyap and Stein (2000) using a panel data set comprising 312 banks observed quarterly over the period 1993-2000. We...