A first version of an econometric SFC model of the French economy based on the accumulation accounts from INSEE and on the financial accounts of the Bank of France has been presented (Mazier and Reyes, 2022). It provides the overall structure, the main equations and the basic properties of the model. This paper is based on the same model with some improvements.
Reyes and Mazier present a first version of an econometric stock flow consistent (SFC) model of the French economy – an aggregate model with a single product, five domestic agents and the rest of the world with a complete representation of real and financial sectors in stocks and flows.
An econometric SFC model of the French economy is presented. The structure of the model is analogous to that of already existing national-level SFC models. The dynamic simulations on the past over the period 1996-2019 provide acceptable results. In a second part the effects of unconventional monetary policy are evaluated such as the distribution of helicopter money in favor of the government to finance additional public investment or social transfers and the partial cancellation of the public debt held by the central bank.
Corporate disclosures related to climate risks are one of the ways to fight climate change by improving financial transparency for investors. An initial assessment, five years after the COP 21, of the climate disclosure practices of French companies (CAC 40) 2015-2019 will be presented. While the results are encouraging, they need to be put into perspective because these firms are still far from being carbon neutral.
This article reviews the epistemological debates about functionalism in ecology. While identifying current area of scientific validity, t emphasizes, in particular, that functionalism depends on the system examined and remains inapplicable wherever singularity prevails.
We develop an algorithm called M.I.D.A.S. (Italian Day-Ahead Market Solver) that simulates by iterative splitting the hourly equilibrium (price-quantity) of the Italian day-ahead market taking into account all transmission constraints between zones and the import from neighbouring countries. The algorithm is employed to study the sensitivity of equilibria to changes in production from units employing variable renewable sources, notably sun and wind, at different locations
Article published in Energies 2022, 15. Investments into wind generation may be hampered by revenues uncertainty caused by the natural variability of the resource, the...
