The beginning of 2018 has been marked by a high price volatility on crypto-currency markets, where even the price of dominant market share crypto-currencies like Bitcoin, Ripple and Ether has fluctuated substantially. While quite a bit of emphasis has been given to the reasonableness of the...

This paper expounds the latest main regulatory projects and industry-wide consultations in the United States (US), in the European Union (EU) and in the main economic countries where distributed ledgers (thereafter, “Blockchain”) regulations have been discussed, proposed and/or adopted. In...

French abstract: Par un arrêt très attendu « Peter Gauweiler c/ Deutscher Bundestag » du 16 juin 2015 (affaire C-62/14), la Cour de justice de l'Union européenne (CJUE) a statué à titre préjudiciel sur une mesure de politique monétaire non conventionnelle menée par la Banque centrale...

French Abstract: Dérivé du terme crowdsourcing, le crowdfunding (ou financement participatif) est une méthode de levée de fonds, principalement sur Internet, qui s'appuie sur les réseaux sociaux et les plates-formes communautaires. Face aux contraintes réglementaires restreignant son...

In this paper, we provide a new dynamic asset pricing model for plain vanilla options and we discuss its ability to produce minimum mispricing errors on equity option books. Given the historical measure, the dynamics of assets are modeled by Garch-type models with generalized hyperbolic...

Forecasting current quarter GDP is a permanent task inside the central banks. Many models are known and proposed to solve this problem. Thanks to new results on the asymptotic normality of the multivariate k-nearest neighbor regression estimate, we propose an interesting and new approach to...

In this paper, we aim at assessing Markov-switching and threshold models in their ability to identify turning points of economic cycles. By using vintage data that are updated on a monthly basis, we compare their ability to detect ex-post the occurrence of turning points of the classical...