Publications of the Chair

Macroeconomic policy evaluation in an SFC econometric model: the case of the investment program for climate action in France

2024
Authors :
Chin Yuan Chong, Jacques Mazier, Luis Reyes

We study the macroeconomic impact of climate action policy that would allow France to reach its net zero objective by 2050. Contrary to the findings of a report commissioned by the French Prime Minister, our simulations show that these investments are likely to generate economic growth and reduce public debt.

Leaving the hearth you know: Internal migration and energy poverty

2024
Authors :
Johanna Choumert-Nkolo, Leonard le Roux

We document the relationship between rural–urban migration and energy poverty in South Africa. Our findings show that migrants to urban areas experience significant reductions in energy poverty, particularly in the use of traditional cooking fuels. Our study also explores energy poverty outcomes for both sending and receiving households, gender differences among migrants, and other amenities.

Challenges in measuring the distribution of carbon footprints: The role of product and price heterogeneity

2024
Authors :
Mathias André, Alexandre Bourgeois, Emmanuel Combet, Matthieu Lequien, Antonin Pottier

The distribution of the footprint within a country is regularly computed using consumption data, and with the assumption that the footprint from a product category is proportional to the spending on that product. Here, we explore the limitations of this proportionality assumption.

Electrification, Environment, and Economic Development in Developing Countries

2023
Authors :
Alpha Ly

This thesis highlights the complex relationships between electrification, deforestation, and economic development in developing countries.

Pricing Congestion to Increase Traffic: The Case of Bogotá

2024
Authors :
Juan-Pablo Montero, Felipe Sepúlveda, Leonardo J. Basso

In September 2020, the city of Bogotá introduced a major market-based reform to its odd-even driving restriction. The big winners of the reform are middle-income individuals who now use their cars more often, whereas the big losers are high-income individuals who now spend more time in traffic.

Cost-Benefit Analysis for Green Demonstrators: Application to the Container Glass Industry in France

2024
Authors :
Maryam Sadighi, Jean-Pierre Ponssard, Maria Eugenia Sanin, Murès Zarea, Elodie Le Cadre Loret

Adopting disruptive technologies for decarbonizing hard-to-abate industrial sectors requires experimentation through demonstration (pilot) projects. However, from an economic perspective, the potential long-term benefits and the difficulties in designing relevant public policies are not addressed in the standard valuations of those projects.

Emerging consensus on net energy paves the way for improved integrated assessment modeling

2023
Authors :
Louis Delannoy, Matthieu Auzanneau, Baptiste Andrieu, Olivier Vidal, Pierre-Yves Longaretti, Emmanuel Prados, David J. Murphy, Roger W. Bentley, Michael Carbajales-Dale, Marco Raugei, Mikael Höök, Victor Court, Carey W. King, Florian Fizaine, Pierre Jacques, Matthew Kuperus Heun, Andrew Jackson, Charles Guay-Boutet, Emmanuel Aramendia, Jianliang Wang, Hugo Le Boulzec, Charles A.S. Hall

Extracting, processing, and delivering energy requires energy itself, which reduces the net energy available to society and yields considerable socioeconomic implications. Yet, most mitigation pathways and transition models overlook net energy feedbacks.

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

2024
Authors :
Jacques Mazier, Luis Reyes

The 2008 and Covid crises have led to increasing public debts and to the launching of unconventional economic policies. Thanks to a complete description of the balance sheets of the domestic and foreign agents, stock-flow consistent (SFC) modelling was well equipped to evaluate their economic consequences. 

Inflation and how to deal with it in France. A policy perspective from an empirical stock-flow model

2023
Authors :
Jacques Mazier, Luis Reyes, Chin Yuan Chong

Using an empirical stock-flow consistent (SFC) model for the French economy, we simulate an imported inflationary shock to emulate the current inflation situation and analyze the resulting macroeconomic impacts on the French economy. Two possible responses are considered: increased wage per capita so as to preserve workers’ purchasing power, increased margins by firms in order to restore their...

The Finance-Climate Nexus

2023
Authors :
Laurence Scialom

The failure of market mechanisms to respect the carbon budget, to assess climate-based financial risks, and to reallocate financial flows on a more sustainable greenhouse gas emission pathway call for strong public interventions and for a strong involvement of both central banks and regulators in the structural change of finance.