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.

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December

Publication Working Paper Series no. 263:

Asset-price boom-bust cycles and credit: what is the scope of macro-prudential regulation?

Published on 12/01/2009
EN
PDF (2.85 MB)

Publication Working Paper Series no. 264:

Consumption-Wealth Ratio and Housing Prices

By Dubecq Simon, Ghattassi Imen

Published on 12/01/2009
EN
PDF (527.67 KB)

Publication Working Paper Series no. 268:

Cyclical relationships between GDP and housing market in France: Facts and factors at play

By Ferrara Laurent, Vigna Olivier

Published on 12/01/2009
EN
PDF (361.44 KB)

Publication Working Paper Series no. 265:

Firms and the global crisis: French exports in the turmoil

By Bricongne Jean-Charles, Fontagné Lionel, Gaulier Guillaume, Taglioni Daria, Vicard Vincent

Published on 12/01/2009
EN
PDF (385.54 KB)

Publication Working Paper Series no. 262:

Forecasting inflation in France.

By Célérier Claire

Published on 12/01/2009
EN
PDF (648.96 KB)

Publication Working Paper Series no. 261:

Frequency-domain analysis of debt service in a macro-finance model for the euro area.

By Renne Jean-Paul

Published on 12/01/2009
EN
PDF (1.89 MB)

Publication Working Paper Series no. 269:

Housing cycles in the major euro area countries

By Âlvarez Luis.J, Bulligan Guido, Cabrero Alberto, Ferrara Laurent, Stahl Harald

Published on 12/01/2009
EN
PDF (557.55 KB)

Publication Working Paper Series no. 260:

Identification of lagged duration dependence in multiple-spell competing risks models

By Horny Guillaume, Picchio Matteo

Published on 12/01/2009
EN
PDF (251.34 KB)

Publication Working Paper Series no. 270:

Impact of Fiscal Policy on Residential Investment in France

By Antipa Pamfili, Schalck Christophe

Published on 12/01/2009
EN
PDF (510.25 KB)

Publication Working Paper Series no. 266:

Stockholding: Does housing wealth matter?

By Arrondel Luc, Savignac Frédérique

Published on 12/01/2009
EN
PDF (335.57 KB)

Publication Working Paper Series no. 267:

The “housing bubble” and financial factors: Insights from a structural model of the French and Spanish residential markets

By Antipa Pamfili, Lecat Rémy

Published on 12/01/2009
EN
PDF (412.42 KB)

November

Publication Working Paper Series no. 257:

A unified framework for understanding and comparing dynamic wage and price-setting models.

By Dixon Huw D.

Published on 11/01/2009
EN
PDF (418.64 KB)

Publication Working Paper Series no. 259:

Forecasting Euro-area recessions using time-varying binary response models for financial.

By Bellégo Christophe, Ferrara Laurent

Published on 11/01/2009
EN
PDF (509.49 KB)

Publication Working Paper Series no. 256:

Labor Court Inputs, Judicial Cases Outcomes and Labor Flows: Identifying Real EPL

By Fraisse Henri, Kramarz Francis, Prost Corinne

Published on 11/01/2009
EN
PDF (560.34 KB)

Publication Working Paper Series no. 258:

Trends and Cycles : an Historical Review of the Euro Area.

By Barthélemy Jean, Marx Magali, Poissonnier Aurélien

Published on 11/01/2009
EN
PDF (2.93 MB)

October

Publication Working Paper Series no. 254:

Risk-Shifting, Fuzzy Capital Constraint, and the Risk-Taking Channel of Monetary Policy

By Dubecq Simon, Mojon Benoït, Ragot Xavier

Published on 10/01/2009
EN
PDF (611.6 KB)

Publication Working Paper Series no. 255:

The housing price boom of the late ’90s: did inflation targeting matter?

By Frappa Sébastien, Mésonnier Jean-Stéphane

Published on 10/01/2009
EN
PDF (305.24 KB)

September

Publication Working Paper Series no. 250:

A sequential modelling of the VaR (in French)

By Monfort Alain

Published on 09/01/2009
EN
PDF (298.57 KB)

Publication Working Paper Series no. 253:

Bank incentives and optimal CDOs

By Pagès Henri

Published on 09/01/2009
EN
PDF (367.24 KB)

Publication Working Paper Series no. 252:

ICT Demand Behaviour: an International Comparison

By Lopez Jimmy

Published on 09/01/2009
EN
PDF (268.51 KB)

Publication Working Paper Series no. 251:

Optimal Portfolio Allocation under Asset and Surplus VaR Constraints

By Monfort Alain

Published on 09/01/2009
EN
PDF (789.02 KB)

August

Publication Working Paper Series no. 242:

Stress testing French banks' income subcomponents

By Coffinet Jérôme, Martin S. Lin and C.

Published on 08/03/2009
EN
PDF (138.09 KB)

August

Publication Working Paper Series no. 249:

Bayesian estimation of Cox models with non-nested random effects: an application to the ratification of ILO conventions by developing countries

By Boockmann Bernhard, Djurdjevic Dragana, Horny Guillaume, Laisney François

Published on 08/01/2009
EN
PDF (598.26 KB)

Publication Working Paper Series no. 247:

Disinflation and unemployment in the euro area : A SVAR-based analysis (in French)

By Fève Patrick, Matheron Julien, Sahuc Jean-Guillaume

Published on 08/01/2009
EN
PDF (529.42 KB)

Publication Working Paper Series no. 246:

Estimating the implicit inflation target in the Euro area (in French)

By Fève Patrick, Matheron Julien, Sahuc Jean-Guillaume

Published on 08/01/2009
EN
PDF (258.85 KB)

Publication Working Paper Series no. 248:

Inference in Mixed Proportional Hazard Models with K Random Effects

By Horny Guillaume

Published on 08/01/2009
EN
PDF (532.28 KB)

Publication Working Paper Series no. 243:

Inflation Target Shocks and Monetary Policy Inertia in the Euro Area

By Fève Patrick, Matheron Julien, Sahuc Jean-Guillaume

Published on 08/01/2009
EN
PDF (453.59 KB)

Publication Working Paper Series no. 245:

Minimum Distance Estimation and Testing of DSGE Models from Structural VARs (in French)

By Fève Patrick, Matheron Julien, Sahuc Jean-Guillaume

Published on 08/01/2009
EN
PDF (167.3 KB)

Publication Working Paper Series no. 244:

Social VAT : Good or bad idea? (in French)

By Fève Patrick, Matheron Julien, Sahuc Jean-Guillaume

Published on 08/01/2009
EN
PDF (220.73 KB)

July

Publication Working Paper Series no. 241:

Central Banker's Behaviour in an Uncertain Environment (in French)

By Avouyi-Dovi Sanvi, Sahuc Jean-Guillaume

Published on 07/01/2009
EN
PDF (381 KB)

Publication Working Paper Series no. 240:

Leadership in Public Good Provision: a Timing Game Perspective

By Kempf Hubert, Rota Graziiosi Grégoire

Published on 07/01/2009
EN
PDF (327.86 KB)

June

Publication Working Paper Series no. 237:

Convergence of firm-level productivity, globalisation, information technology, and competition: evidence from France.

By Lechevalier Sébastien, Lecat Rémy, Oulton Nicholas

Published on 06/01/2009
EN
PDF (856.19 KB)

Publication Working Paper Series no. 239:

Identification of slowdowns and accelerations for the euro area economy.

By Darné Olivier, Ferrara Laurent

Published on 06/01/2009
EN
PDF (522.28 KB)

Publication Working Paper Series no. 238:

Macro stress testing with a macroeconomic credit risk model: Application to the French manufacturing sector.

By Avouyi-Dovi Sanvi, Bardos Mireille, Jardet Caroline, Kendaoui Ludovic, Moquet Jérémy

Published on 06/01/2009
EN
PDF (356.56 KB)

Publication Working Paper Series no. 235:

New Information Response Functions.

By Jardet Caroline, Monfort Alain, Pegoraro Fulvio

Published on 06/01/2009
EN
PDF (656.28 KB)

Publication Working Paper Series no. 234:

No-arbitrage Near-Cointegrated VAR(p) Term Structure Models, Term Premia and GDP Growth.

By Jardet Caroline, Monfort Alain, Pegoraro Fulvio

Published on 06/01/2009
EN
PDF (508.02 KB)

Publication Working Paper Series no. 236:

Simulations under Uncertainty (in French)

By Adjemian Stéphane, Cahn Christophe, Devulder Antoine, Maggiar Nicolas

Published on 06/01/2009
EN
PDF (3.42 MB)

February

Publication Working Paper Series no. 232:

Are disaggregate data useful for factor analysis in forecasting French GDP?

By Barhoumi Karim, Darné Olivier, Ferrara Laurent

Published on 02/01/2009
EN
PDF (150.9 KB)

Publication Working Paper Series no. 233:

Monetary rules and the spillover of regional fiscal policies in a federation.

By Russell Cooper, Kempf Hubert, Peled Dan

Published on 02/01/2009
EN
PDF (293.2 KB)

January

Publication Working Paper Series no. 229:

Education, Market Rigidities and Growth

By Aghion Philippe, Askenazy Philippe, Bourlès Renaud, Dromel Nicolas

Published on 01/01/2009
EN
PDF (150.3 KB)

Publication Working Paper Series no. 230:

The Rocky Ride of Break-even-inflation rates

By de Jong Marielle

Published on 01/01/2009
EN
PDF (169.31 KB)

Publication Working Paper Series no. 231:

Time-varying (S, s) band models: empirical properties and interpretation

By Gautier Erwan, Le Bihan Hervé

Published on 01/01/2009
EN
PDF (982.04 KB)

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