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Working papers

The Working Paper Series showcases research work being conducted at the Banque de France on the development of analytical tools for use in macroeconomic forecasting, monetary policy conduct and the safeguarding of financial stability. The papers do not necessarily reflect the position of the Banque de France or the Eurosystem.


Publication Working Paper Series no. 662:
Firm-level Productivity Dispersion and Convergence

The productivity slowdown has been analysed as an effect of weaker technological progress, of the digital economy or of a less efficient reallocation process. Using data on firms operating in France, we highlight that, at the technological frontier,...

By Cette Gilbert, Corde Simon, Lecat Rémy
  • Published on 02/23/2018
  • 6 pages
  • EN
  • PDF (2.15 MB)


Publication Working Paper Series no. 661:
Global financial interconnectedness: A Non-Linear Assessment of the Uncertainty Channel

The role of uncertainty in the global economy is now widely recognized by policy-makers but its effects on the international financial system are less understood. In this paper we assess the impact of uncertainty fluctuations on the interconnectedness...

By Candelon Bertrand, Ferrara Laurent, Joëts Marc
  • Published on 01/24/2018
  • 47 pages
  • EN
  • PDF (2.72 MB)


Publication Working Paper Series no. 660:
Exchange Rate Movements, Firm-Level Exports and Heterogeneity

This paper provides an estimation of the reaction of firm-level exports consecutive to real exchange rate movements, the exchange rate elasticity of exports. Following recent theoretical works emphasizing the role played by firm heterogeneity, we test...

By Berthou Antoine, Dhyne Emmanuel
  • Published on 01/15/2018
  • 44 pages
  • EN
  • PDF (718.2 KB)