Publications of the Chair

Conventional and unconventional economic policies in an econometric SFC model of the French economy

2022
Authors :
Jacques Mazier, Luis Reyes

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...

Unconventional monetary policy in an econometric SFC model of the French economy: some lessons for financing the low carbon transition

2022
Authors :
Jacques Mazier, Luis Reyes

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...

Do French firms follow a transparent or climate-friendly path?

2022
Authors :
Jeanne Amar, Samira Demaria, Sandra Rigot

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...

Functionalism in ecology and economics: Epistemological affinities and temptations

2022
Authors :
Hadrien Lantremange

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. 

Shaky foundations: Central bank independence in the 21st century

2022
Authors :
Jérôme Deyris, Gaëtan Le Quang et Laurence Scialom

Central bank independence (CBI) has often been presented as a superior institutional arrangement demonstrated by economists in the 1980s for achieving a common good in a non-partisan manner. In this article, we argue that this view must be challenged.

Heterogenous effects of rural electrification on child labor in Nigeria

2022
Authors :
Claire Salmon and Jeremy Tanguy

This paper investigate in particular how child labor varies depending on the nature of electricity supply and the electrical appliances used in the household. We find that the employment probability of children from electrified households is lower than that of children living in non-electrified households only when the household combines grid access and a generator as sources...

Green bond: the emperor wears no clothes

2021
Authors :
Ivar Ekeland, Julien Lefournier

This article demonstrates that the green bond cannot constitute an incentive to carry out a green project.

From words to deeds? Climate change and the European Central Bank

2021
Authors :
Jérôme Deyris, Tanguy Bonnet

Using textual analysis methods, we study how the topic of climate change has appeared and evolved in the speeches of the ECB's Executive Board members since 1997.

Why finance professionals hold green and brown assets? A lab-in-the-field experiment

2021
Authors :
Adrien Nguyen-Huu, Sébastien Duchêne, Dimitri Dubois, Marc Willinger

We assess the impact of environmental externalities on portfolio decisions in a lab-inthe-field experiment on finance professionals and students. Subjects show pro-environmental preferences, with...  

A practical approach for curbing congestion and air pollution: Driving restrictions with toll and vintage exemptions

2021
Authors :
Leonardo Basso, Juan-Pablo Montero, and Felipe Sepulveda

Article published in Transportation Research Part A: Policy and Practice Congestion and local air pollution continue to be a serious problem in many cities around...