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. 580:

Offshoring and Skill-upgrading in French Manufacturing: A Heckscher-Ohlin-Melitz View

By Carluccio Juan, Cuñat Alejandro, Fadinger Harald, Fons-Rosen Christian

Published on 12/01/2015
EN
PDF (876 KB)

December

Publication Working Paper Series no. 579:

Institutional distance and foreign direct investment

By Cezar Rafaël, Escobar Octavio R.

Published on 12/01/2015
EN
PDF (752.98 KB)

December

Publication Working Paper Series no. 578:

Approximating time varying structural models with time invariant structures

By Canova Fabio, Ferroni Filippo, Matthes Christian

Published on 12/01/2015
EN
PDF (921.51 KB)

November

Publication Working Paper Series no. 577:

On the sources of macroeconomic stability in the euro area

By Avouyi-Dovi Sanvi, Sahuc Jean-Guillaume

Published on 11/01/2015
EN
PDF (640.33 KB)

October

Publication Working Paper Series no. 576:

Delayed Overshooting Puzzle in Structural Vector Autoregression Models

By Balazs Vonnak, Istrefi Klodiana

Published on 10/01/2015
EN
PDF (731.42 KB)

October

Publication Working Paper Series no. 575:

Financial incentives and labor market duality

By Berson Clémence, Ferrari Nicolas

Published on 10/01/2015
EN
PDF (916.23 KB)

October

Publication Working Paper Series no. 574:

Le comportement des firmes françaises pendant la Crise : éléments tirés de l’enquête « Dynamique des Salaires » (en anglais)

By Jadeau Christophe, Jousselin Edouard, Roux Sébastien, Verdugo Gregory

Published on 10/01/2015
EN
PDF (919.7 KB)

October

Publication Working Paper Series no. 573:

Forward Guidance and Heterogeneous Beliefs

By Andrade Philippe, Gaballo Gaetano, Mengus Eric, Mojon Benoït

Published on 10/01/2015
EN
PDF (713.01 KB)

October

Publication Working Paper Series no. 572:

The Long Landing Scenario: Rebalancing from Overinvestment and Excessive Credit Growth. Implications for Potential Growth in China

By Albert Marie, Jude Cristina, Rebillard Cyril

Published on 10/01/2015
EN
PDF (1.41 MB)

September

Publication Working Paper Series no. 571:

Explaining the Recent Slump in Investment: the Role of Expected Demand and Uncertainty

By Bussière Matthieu, Ferrara Laurent, Milovich Juliana

Published on 09/01/2015
EN
PDF (1.26 MB)

September

Publication Working Paper Series no. 570:

Real Wage Cyclicality in the Eurozone before and during the Great Recession: Evidence from micro data

By Verdugo Gregory

Published on 09/01/2015
EN
PDF (1.24 MB)

September

Publication Working Paper Series no. 569:

Mega-deals: What Consequences for sub-Saharan Africa ?

By Guimbard Houssein, Le Goff Maëlan

Published on 09/01/2015
EN
PDF (1.07 MB)

August

Publication Working Paper Series no. 568:

Credible Wage Bargaining and the Joint Dynamics of Unemployment and Inflation

By Clerc Pierrick

Published on 08/31/2015
EN
PDF (571.84 KB)

August

Publication Working Paper Series no. 567:

On the coherence and the predictive content of the French Bank Lending Survey’s indicators (in French)

By Levieuge Grégory

Published on 08/01/2015
EN
PDF (805.66 KB)

August

Publication Working Paper Series no. 566:

Explaining and forecasting bank loans. Good times and crisis

This paper aims to develop a parsimonious model to explain and forecast bank loans to non-financial companies during calm periods as well as in situations of financial turmoil. In doing so, we are led to gauge the marginal informational content of...

By Levieuge Grégory

Published on 08/01/2015
EN
PDF (704.44 KB)

August

Publication Working Paper Series no. 565:

Structural and atheoretic approaches to micro-econometrics of public policy evaluation (in french)

By Roux Sébastien

Published on 08/01/2015
EN
PDF (479.46 KB)

July

Publication Working Paper Series no. 564:

Civic capital and the Vertical Integration of Service Provision: Evidence from Italy

By Bürker Matthias, Minerva G. Alfredo

Published on 07/01/2015
EN
PDF (559.28 KB)

July

Publication Working Paper Series no. 563:

Aid and Growth. Evidence from Firm-Level Data

By Chauvet Lisa, Ehrhart Hélène

Published on 07/01/2015
EN
PDF (547.07 KB)

July

Publication Working Paper Series no. 562:

Towards Recoupling? Assessing the Global Impact of a Chinese Hard Landing through Trade and Commodity Price Channels

By Rebillard Cyril

Published on 07/01/2015
EN
PDF (1.82 MB)

June

Publication Working Paper Series no. 561:

Financial integration and growth correlation in Sub-Saharan Africa

By Acalin Julien, Cabrillac Bruno, Dufrénot Gilles, Jacolin Luc, Diop Samuel

Published on 06/01/2015
EN
PDF (874.69 KB)

June

Publication Working Paper Series no. 560:

From Micro to Macro: Demand, Supply, and Heterogeneity in the Trade Elasticity

By Bas Maria, Mayer Thierry, Thoenig Mathias

Published on 06/01/2015
EN
PDF (1.19 MB)

June

Publication Working Paper Series no. 559:

Growth effect of FDI in developing economies: The role of institutional quality

By Jude Cristina, Levieuge Grégory

Published on 06/01/2015
EN
PDF (692.87 KB)

June

Publication Working Paper Series no. 558:

Staying at Zero with Affine Processes: An Application to Term Structure Modelling

By Monfort Alain, Pegoraro Fulvio, Renne Jean-Paul, Roussellet Guillaume

Published on 06/01/2015
EN
PDF (1.1 MB)

June

Publication Working Paper Series no. 557:

Innovation and Top Income Inequality

By Aghion Philippe, Akcigit Ufuk, Bergeaud Antonin, Blundell Richard, Hémous David

Published on 06/01/2015
EN
PDF (838.89 KB)

June

Publication Working Paper Series no. 556:

The Implementation of Stabilization Policy

By Loisel Olivier

Published on 06/01/2015
EN
PDF (809.03 KB)

May

Publication Working Paper Series no. 555:

Profit shifting through transfer pricing: evidence from French firm level trade data

By Vicard Vincent

Published on 05/01/2015
EN
PDF (517.08 KB)

May

Publication Working Paper Series no. 554:

Asymmetric shocks in a currency union: The role of central bank collateral policy

By Koulischer François

Published on 05/01/2015
EN
PDF (1.21 MB)

May

Publication Working Paper Series no. 553:

Employment effects of foreign direct investment. New Evidence from Central and Eastern European Countries

By Jude Cristina, Pop Silaghi Monica Ioana

Published on 05/01/2015
EN
PDF (685.25 KB)

May

Publication Working Paper Series no. 552:

Wealth Effects on Consumption across the Wealth Distribution: Empirical Evidence

By Arrondel Luc, Lamarche Pierre, Savignac Frédérique

Published on 05/01/2015
EN
PDF (1.13 MB)

May

Publication Working Paper Series no. 551:

Demand learning and firm dynamics: evidence from exporters

By Berman Nicolas, Rebeyrol Vincent, Vicard Vincent

Published on 05/01/2015
EN
PDF (693.95 KB)

April

Publication Working Paper Series no. 550:

For a Few Dollars More: Reserves and Growth in Times of Crises

By Berman Nicolas, Rebeyrol Vincent, Vicard Vincent

Published on 04/30/2015
EN
PDF (681.98 KB)

April

Publication Working Paper Series no. 549:

GDP per capita in advanced countries over the 20th century

By Bergeaud Antonin, Lecat Rémy

Published on 04/30/2015
EN
PDF (2.13 MB)

April

Publication Working Paper Series no. 548:

Bank risks, monetary shocks and the credit channel in Brazil: identification and evidence from panel data

By Ramos-Tallada Julio

Published on 04/30/2015
EN
PDF (1.52 MB)

April

Publication Working Paper Series no. 547:

The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises

By Avouyi-Dovi Sanvi, Horny Guillaume, Sevestre Patrick

Published on 04/30/2015
EN
PDF (1.45 MB)

April

Publication Working Paper Series no. 546:

Austerity Plans and Tax Evasion : Theory and Evidence from Greece

By Pappadà Francesco, Zylberberg Yanos

Published on 04/30/2015
EN
PDF (1.57 MB)

March

Publication Working Paper Series no. 545:

Cross-border interbank contagion in the European banking sector

By Gabrieli Silvia, Salakhova Dilyara, Vuillemey Guillaume

Published on 03/31/2015
EN
PDF (766.93 KB)

March

Publication Working Paper Series no. 544:

Entry barriers to international trade: product versus firm fixed costs

By Steingress Walter

Published on 03/31/2015
EN
PDF (422.75 KB)

March

Publication Working Paper Series no. 543:

Variable Trade Costs, Composition Effects, and the Intensive Margin of Trade

By Berthou Antoine, Fontagné Lionel

Published on 03/31/2015
FR
PDF (427.64 KB)

March

Publication Working Paper Series no. 542:

Specialization Patterns in International Trade

By Steingress Walter

Published on 03/31/2015
FR
PDF (1.21 MB)

March

Publication Working Paper Series no. 541:

Monetary Union with A Single Currency and Imperfect Credit Market Integration

Published on 03/31/2015
EN
PDF (740.15 KB)

March

Publication Working Paper Series no. 540:

Can the Provision of Long-Term Liquidity Help to Avoid a Credit Crunch? Evidence from the Eurosystem's LTROs

By Andrade Philippe, Cahn Christophe, Fraisse Henri, Mésonnier Jean-Stéphane

Published on 03/31/2015
EN
PDF (562.65 KB)

March

Publication Working Paper Series no. 539:

Globalization, Market Structure and the Flattening of the Phillips Curve

By Guilloux-Nefussi Sophie

Published on 03/31/2015
EN
PDF (1.22 MB)

February

Publication Working Paper Series no. 538:

The Elasticity of Poverty with respect to Sectoral Growth in Africa

Published on 02/28/2015
EN
PDF (589.1 KB)

February

Publication Working Paper Series no. 537:

On the Size of the Government Spending Multiplier in the Euro Area

By Fève Patrick, Sahuc Jean-Guillaume

Published on 02/28/2015
EN
PDF (420.28 KB)

February

Publication Working Paper Series no. 536:

Labour Force Participation and Tax-Benefit Systems: A Cross-Country Comparative Perspective

By Galuščák Kamil, Kátay Gábor

Published on 02/28/2015
EN
PDF (1.13 MB)

January

Publication Working Paper Series no. 535:

Precautionary Saving and Aggregate Demand

By Challe Edouard, Matheron Julien, Ragot Xavier, Rubio-Ramirez Juan

Published on 01/31/2015
EN
PDF (469.84 KB)

Publication Working Paper Series no. 534:

Why Financial Advice Cannot Substitute for Financial Literacy?

By Debbich Majdi

Published on 01/31/2015
EN
PDF (781.73 KB)

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