17th call for proposals of research projects
At its meeting on 25 mars 2013, the Board of the Fondation, on the basis of the assessment by the evaluation committee, decided to award a grant of EUR, 30 000 to each of the following projects.
“The rise of disaster risk: evidence from currency options”
Xavier Gabaix* Sam Fraiberger*, Emmanuel Farhri** Romain Rancière*** (PSE):
*NYU Stern, ** University of Harvard,*** PSE
“Macroeconomic fluctuations and inequality”
Emmanuel Saez*, Pascal Michaillat**
*University of California Berkeley, **London School of Economics
“Excitation in Eurozone Credit Default Swaps”
Yacine Aït Sahalia*, Roger J.A. Laeven**, Loriana Pelizzon***
* Princeton University, **University of Amsterdam, *** University of Venice
“Understanding the gains from wage flexibility”
Jordí Gali*, Tommaso Monacelli**
*CREI, ** University of Bocconi
Publications of Foundation’s research projects in international journals
2013Denis Gromb, Viral Acharya, Tanju Yorulmazer, “American Economic Journal, Macroeconomics (forthcoming)
2012
Frederico Ravenna, Carl Walsh: « Monetary Policy and Labor Frictions: A Tax Interpretation», Journal of Monetary Economics, March 2012, 59(2): 180-195
2011
Federico Ravenna, Carl E. Walsh: « Welfare-Based Optimal Monetary Policy with Unemployment and Sticky Prices: A Linear-Quadratic Framework », American Economic Journal, Macroeconomics, Vol.3, n° 2.
Francesco Lippi, Fernando Alvarez, Luigi Paciello : « Optimal price setting with observation and menu costs », Quarterly Journal of Economics, November, Vol. 126, Issue 4.
Francesco Lippi, Fernando Alvarez, Luigi Guiso : « Durable consumption and asset management with transaction and observation cost », American Economic Review, August (pp. 2272-2300)
Albert Marcet, Klaus Adam, Juan Pablo Nicolini : “Internal rationality, Imperfect Market Knowledge and Asset Prices”, Journal of Economic Theory, May, (1224-1252)
2010
Carlo Favero, Marco Pagano, Ernst-Ludwig von Thadden : « How Does Liquidity Affects Government Bond Yields ? », Journal of Financial and Quantitative Analysis, vol. 45, iss.1, pp. 107-134.
2009
Philippe Aghion, Philippe Bacchetta, Ken Rogoff, Romain Rancière : « Exchange Rate Volatility and Productivity Growth : the Role of Financial Development »
, Journal of Monetary Economics, vol.56, iss.4 pp.494-513.
Philip Strahan, Elena Loutskina : « Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates »
, Journal of Finance, vol.64, iss.2, pp.861-889.
2007
Richard Priestley, Gikas Hardouvelis, Dimitrios Malliaropulos : « The Impact of EMU on the Equity Cost of Capital », Journal of International Money and Finance, vol.26, iss.2, pp. 305-327, http://www.sciencedirect.com/science/journal/02615606
Patrick Bolton, Xavier Freixas, Joel Shapiro : « Conflicts of Interest, Information Provision and Competition in the Financial Services Industry », Journal of Financial Economics, vol.85, iss.2, pp. 297-330, http://jfe.rochester.edu/
Viral V. Acharya, Timothy Johnson : « Insider Trading in Credit Derivatives », Journal of Financial Economics, vol.84, iss.1, pp.110-141.
2006
David Miles, Ales Cerny : « Risk, Return and Portfolio Allocation under Alternative Pension Systems with Incomplete and Imperfect Financial Markets », The Economic Journal, vol. 116, iss. 511, pp. 529–557.
2005
Marco Cipriani, Antonio Guarino : « Herd Behavior in a Laboratory Financial Market », American Economic Review, vol.95, iss.5 pp. 1427-1444. http://www.aeaweb.org/articles.php?doi=10.1257/000282805775014443
Dominique Guégan, Raymond Brummelhuis : « Multi-period Conditional Distribution Functions for Heteroscedastic Models with Applications to VaR », Journal of Applied Probability, vol. 42, iss.2, pp. 426-445. http://projecteuclid.org/Dienst/UI/1.0/Journal?authority=euclid.jap&issue=1118777171
Magda Bianco, Tullio Jappelli, Marco Pagano : « Courts and Banks: Effects of Judicial Enforcement on Credit Markets » , Journal of Money, Credit and Banking, vol. 37, iss.2, pp. 223-245.
Norvald Instefjord : « Risk and Hedging : Do Credit Derivatives Increase Bank Risk? », Journal of Banking & Finance, vol. 29, iss. 2, pp. 333-345. http://www.sciencedirect.com/science/journal/03784266
2004
Harald Hau, Hélène Rey : « Can portfolio rebalancing explain the dynamics of equity returns, equity flows and exchange rates ? »
, American Economic Review, vol.94, iss.2, pp.126-133.
2003
Mario Forni , Marc Hallin, Marco Lippi, Lucrezia Reichlin : « Do Financial Variables Help Forecasting Inflation and Real Activity in the Euro Area ? », Journal of Monetary Economics, vol. 50, 2003, Issue 6, pp. 1243-1255, http://www.sciencedirect.com/science/journal/03043932
Christophe Chamley : « Dynamic speculative attacks », American Economic Review, vol. 93, iss. 3, pp 603-621, http://www.aeaweb.org/aer/contents/june2003.html#6
2002
Marco Pagano, Ailsa A. Röell, Josef Zechner : « The Geography of Equity Listing : Why do Companies List Abroad? », Journal of Finance, vol. 57, iss. 6, pp. 2651-2694, http://www.blackwell-synergy.com/toc/jofi/57/6
Laura Bottazzi, Marco Da Rin : « Venture Capital in Europe and the Financing of Innovative Companies », Economic Policy, www.economic-policy.org
2000
Philippe Martin, Hélène Rey : « Financial Integration and Asset Returns », European Economic Review, vol. 44, iss.7, pp. 1327-1350, http://www.sciencedirect.com/science/journal/00142921
Xavier Freixas, Bruno Parigi, Jean-Charles Rochet : « Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank », Journal of Money, Credit and Banking, vol. 32, iss. 2, pp. 611-638.