Observatoire Francais des Conjonctures Economiques

Displaying 1-10 of 10 results

  • White Papers // Nov 2010

    International Outsourcing Over The Business Cycle: Some Intuition For Germany, The Czech Republic And Slovakia

    In this paper, the authors assess the extent to which multinational firms - in the first instance, the German ones - may adjust their international outsourcing over the business cycle in the Czech Republic and Slovakia. For that purpose, they have used monthly data of production for the manufacturing sector...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2010

    Financial Spillovers From The US Financial Markets To The Emerging Markets During The Subprime Crisis: The Example Of Indian Equity Markets

    This paper provides evidence of spillover effects from the Indian to the US financial markets. The authors use VAR and Kalman filter analysis to assess the influence of financial stress indicators like the LIBOROIS, CDS, the S&P 500 volatility and the exchange rate of the rupee against the Dollar on...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2010

    Human Capital Dispersion And Incentives To Innovate

    Do policies that alter the allocation of human capital across individuals affect the innovation capacity of an economy? To answer this question, the author extends Romer's (1990) growth model to allow for individual heterogeneity. The author finds that the value of an invention rises with equality. If skills and talents...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Jul 2010

    Has Inflation Targeting Changed Monetary Policy Preferences ?

    The paper on inflation targeting has up to now focused on its impact on macroeconomic performance or private expectations. In contrast, this paper proposes to investigate empirically whether the institutional adoption of this framework has changed the policy preferences of the central banker. The authors test the hypothesis that inflation...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Jun 2010

    Country Size, Growth And Volatility

    What are the effects of country size on growth and business cycle volatility? To investigate this question, previously asked by Rose (2006) and Furceri and Karras (2007), the authors developed an original country-size index with principal component analysis (PCA). Traditional analysis of this topic usually only includes the population. The...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Jan 2010

    Government, Taxes And Financial Crises

    This paper analyzes the effectiveness of different governmental policies to prevent the emergence of financial crises. In particular, the authors study the impact on welfare of using public resources to recapitalize banks, government injection of money into the banking system through credit lines, the creation of a buffer and taxes...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Dec 2009

    Wealth Effects And Public Debt In An Endogenous Growth Model

    The debate on public finances' sustainability has long focused on the conditions for the accumulation of debt. This implied that, empirically, the analyses revolved around estimations of dynamic versions of the debt accumulation equation, through unit root tests and co-integration tests between e.g. revenues and primary expenditures, or debt and...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2009

    Global Financial Crisis: The French Policy Answer In A EU Perspective

    The 2007-2009 crises have led to a return of Keynesian analyses and policies. The paper analyses the contradictions between a structural crisis, the implementation at a very large scale of Keynesian policies and the denial to undermine financial capitalism. The crisis has led the French government to endorse French traditional...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // May 2009

    Are Export Premia Robust To Innovation Statistics?

    This paper analyses to what extent innovation contributes to the productivity advantage of exporters over their non exporting counterparts, namely the export premium. Using a dataset of French firms' data, the authors start by performing non parametric tests on TFP distributions for different groups of firms characterized by their ex-port...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Apr 2009

    Some Thoughts On Industrial Policy And Growth

    In the aftermath of WWII, many developing countries have opted for policies aimed at promoting new infant industries or at protecting local traditional activities from competition by products from more advanced countries. Thus several Latin American countries advocated import substitution policies whereby local industries would more fully benefit from domestic...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Apr 2009

    Some Thoughts On Industrial Policy And Growth

    In the aftermath of WWII, many developing countries have opted for policies aimed at promoting new infant industries or at protecting local traditional activities from competition by products from more advanced countries. Thus several Latin American countries advocated import substitution policies whereby local industries would more fully benefit from domestic...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // May 2009

    Are Export Premia Robust To Innovation Statistics?

    This paper analyses to what extent innovation contributes to the productivity advantage of exporters over their non exporting counterparts, namely the export premium. Using a dataset of French firms' data, the authors start by performing non parametric tests on TFP distributions for different groups of firms characterized by their ex-port...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2009

    Global Financial Crisis: The French Policy Answer In A EU Perspective

    The 2007-2009 crises have led to a return of Keynesian analyses and policies. The paper analyses the contradictions between a structural crisis, the implementation at a very large scale of Keynesian policies and the denial to undermine financial capitalism. The crisis has led the French government to endorse French traditional...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Dec 2009

    Wealth Effects And Public Debt In An Endogenous Growth Model

    The debate on public finances' sustainability has long focused on the conditions for the accumulation of debt. This implied that, empirically, the analyses revolved around estimations of dynamic versions of the debt accumulation equation, through unit root tests and co-integration tests between e.g. revenues and primary expenditures, or debt and...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Jan 2010

    Government, Taxes And Financial Crises

    This paper analyzes the effectiveness of different governmental policies to prevent the emergence of financial crises. In particular, the authors study the impact on welfare of using public resources to recapitalize banks, government injection of money into the banking system through credit lines, the creation of a buffer and taxes...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Jul 2010

    Has Inflation Targeting Changed Monetary Policy Preferences ?

    The paper on inflation targeting has up to now focused on its impact on macroeconomic performance or private expectations. In contrast, this paper proposes to investigate empirically whether the institutional adoption of this framework has changed the policy preferences of the central banker. The authors test the hypothesis that inflation...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Jun 2010

    Country Size, Growth And Volatility

    What are the effects of country size on growth and business cycle volatility? To investigate this question, previously asked by Rose (2006) and Furceri and Karras (2007), the authors developed an original country-size index with principal component analysis (PCA). Traditional analysis of this topic usually only includes the population. The...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2010

    International Outsourcing Over The Business Cycle: Some Intuition For Germany, The Czech Republic And Slovakia

    In this paper, the authors assess the extent to which multinational firms - in the first instance, the German ones - may adjust their international outsourcing over the business cycle in the Czech Republic and Slovakia. For that purpose, they have used monthly data of production for the manufacturing sector...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2010

    Financial Spillovers From The US Financial Markets To The Emerging Markets During The Subprime Crisis: The Example Of Indian Equity Markets

    This paper provides evidence of spillover effects from the Indian to the US financial markets. The authors use VAR and Kalman filter analysis to assess the influence of financial stress indicators like the LIBOROIS, CDS, the S&P 500 volatility and the exchange rate of the rupee against the Dollar on...

    Provided By Observatoire Francais des Conjonctures Economiques

  • White Papers // Nov 2010

    Human Capital Dispersion And Incentives To Innovate

    Do policies that alter the allocation of human capital across individuals affect the innovation capacity of an economy? To answer this question, the author extends Romer's (1990) growth model to allow for individual heterogeneity. The author finds that the value of an invention rises with equality. If skills and talents...

    Provided By Observatoire Francais des Conjonctures Economiques