Research Fellows

Testing Goodwin with a Stochastic Differential Approach – The United States (1948 – 2017)

The goal of this paper is to propose and test stochastic differential equations for Goodwin’s model and one of its extension by using an estimation technique based on simulated maximum likelihood developed by Durham and Gallant (2002)

Presentations of the third workshop on sustainable mobility

The Chair Energy and Prosperity Organized its thirs Workshop on Sustainable Mobility on November 9-10. You can download in this article the workshop's summary and all the speakers' presentations.

Using Output-Based Allocations to Manage Volatility and Leakage in Pollution Markets

Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and volatility.

Output-based allocations in pollution markets with uncertainty and self-selection

The paper studies pollution permit markets in which a fraction of permits are allocated to firms based on their output. Output-based allocations, which are receiving increasing attention in the design of carbon markets around the world are shown to be optimal under demand and supply volatility despite the output distortions they may create. 

Debt and Investment in the Keen model: a Reappraisal of Modeling Minsky

We examine to which extent the Keen model (Keen 1995) is a faithful modelling of Minsky's Finance. We conclude that the Keen crisis has few Minskian flavours.

Global trends in metal consumption and supply element: the raw material–energy nexus

The consumption of mineral resources and energy has increased exponentially over the last 100 years. Further growth is expected until at least the middle of the 21st century. In order to meet this demand, more metals will have to be produced by 2050 than over the last 100 years, which raises questions about the sustainability and conditions of supply.

Mobility solutions for the energy transition – Cahier de l’Institut Louis Bachelier

Realised with Jean-Pierre Ponssard, this "Cahier de l'ILB" is dedicated to sustainable mobility. It deals with various subjects : how driving restrictions affect urban pollution, carbon footprint of motor vehicles in the United States, hydrogen vehicles, the importance of strong regulation to reap the full benefits of innovation in mobility.

The importance of considering optimal government policy when social norms matter for the private provision of public goods

Social pressure can help overcome the free rider problem associated with public good provision. In the social norms literature concerned with the private provision of public goods there seems to be an implicit belief that it is best to have all agents adhere to the ‘good’ social norm. We challenge this view and study optimal government policy in a reference model (Rege, 2004) of public good provision and social approval in a dynamic setting.

The Chair’s seminar – Speaker Roger Guesnerie

Macro-economical and societal challengesResearch FellowsComments Off on The Chair’s seminar – Speaker Roger Guesnerie

The Chair Energy and Prosperity will welcome Roger Guesnerie in it's seminar on Septembre 29th. His speach will be on the following subject : "Calcul économique : à propos de quelques débats concernant le risque et le développement durable"

Workshop – Climate change, the energy transition and the financial system

France Stratégie and the Chair Energy et Prosperity are teaming up to organize a workshop on the contribution of the financial system to the energy transition and climate stabilization. The

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    • Séminaire sur la modélisation macroéconomique SFC environnementale

      30 September 2025
      14:00 PM - 17:00 pm

      Séminaire en présence d'Adam George (SOAS, University of London). Adam George présente un modèle macroéconomique SFC environnemental britannique intégrant émissions de CO2 et investissements verts de tous les agents économiques. Le modèle trimestriel analyse l'impact des politiques énergétiques selon le rapport capital vert/capital conventionnel. Quatre scénarios fiscaux verts sont testés (2022-2035) : taxe carbone, investissement...

    • Bioénergie : allocation des sols et organisation des filières.

      9 October 2025
      10 October 2025
      09:00 - 18:00

      Le laboratoire GAEL (Grenoble Applied Economics Laboratory) et la Chaire Energie et Prospérité organisent un workshop sur l’économie de la bioénergie les jeudi 9 et vendredi 10 octobre 2025 sur le campus universitaire de Grenoble.