•   New
  • 20th call for proposals of research projects

    Foundation Banque de France launches its 20th call for proposals of research projects. Four grants are typically awarded for a total amount of EUR 120 000. Deadline for applying is: 27 november 2015.

    Call for proposals 

    Submission Form 

    Visiting scholars: call for applications

    The Foundation invites researchers for a stay of 1-3 weeks during which they interact with Banque de France research teams. The Foundation covers transport and accommodation costs. Visiting scholars are selected through annual or bi-annual calls for proposals. The submission deadline for visits taking place in 2016 will be 20 November 2015.


    Forthcoming seminars

    11 September 2015 (11:30-12:30 – room B230)
    Ramon Marimon (EUI)
    "Breaking the Spell with Credit Easing. Self-Confirming Credit Crises in Competitive Search Economies"


    Outcome of the 19th call for proposals of research projects

    "Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades"
    Manuel Adelino*, Miguel A. Ferreira**
    *Duke University **Nova School of Business Economics (Lisboa)

    "Stagnation Traps"
    Gianluca Benigno*, Luca Fornaro**
    *LSE **CREI

    "Labor demand and financing constraints"
    Thomas Chaney*, Zongbo Huang **, David Sraer ***, David Thesmar****
    * TSE ** Princeton University *** Berkeley **** HEC Paris

    "Central Bank communication and inflation expectations"
    Stephen Hansen *, Paul Hubert **, Michael McMahon ***
    * UPF Barcelona ** OFCE- Sciences Po *** U. Warwick

    Visiting scholars in 2015

    The following researchers will be visiting scholars at Banque de France for some weeks in 2015. The dates of their stay will be mentioned later on.

    27 avril - 30 avril 2015
    Michael Bordo (Rutgers University)


    Augustin Landier has been awarded the Best Young Economist Prize 2014

    Augustin Landier, professor at the Toulouse School of Economics and member of the evaluation committee of the Foundation (within its scientific council) has been awarded the Best Young Economist Prize (from the Cercle des Économistes – Le Monde). Augustin Landier received the prize for his work on corporate financial contracts and their incentive features. The following persons were also nominated: Matthieu Bussière (Banque de France) for his research on financial crises and exchange rates, Antoine Bozio(Director of the Institute of public policies, PSE), expert on the pension system, and Élise Huillery (Sciences Po), a specialist in development economics.

    Publications of Foundation's research projects in international journals


    « Aggregate Demand, Idle Time and Unemployment »
    Pascal Michaillat, Emmanuel Saez
    Quarterly Journal of Economics, volume 130, issue 2, pages 507-569 2014

    « Hot and cold seasons in the housing markets »
    Silvana Tenreyro, Rachel Ngai
    American Economic Review, volume 104, issue 12, pages 3991-4026

    « Mutual excitation in Eurozone sovereign CDS »
    Yacine Aït-Sahalia, Roger J.A Laeven, Loriana Pelizzon: Journal of Econometrics, December 2014, volume 183, issue 2, pages 151-167

    « Estimating a structural model of herd behavior in financial markets »
    Marco Cipriani*, Antonio Guarino**
    *GWU and FMG, **UCL and FMG
    American Economic Review, January 2014, volume 104, issue1, pages 224-251

    « Systemic Risk in Europe »
    Robert Engle*, Eric Jondeau**, Michael Rockinger**
    *Stern School of Business (NYU), **HEC Lausanne
    Review of Finance, March 2014, pages 1-46

    « Domestic Credit Growth and International Capital Flows »
    Philip R. Lane*, Peter McQuade**
    *Trinity College Dublin, **European Central Bank
    The Scandinavian Journal of Economics, 2014, volume 116, issue 1, pages 218-252


    Philip R. Lane, Peter McQuade "Domestic Credit Growth and International Capital Flows ", Scandinavian Journal of Economics (forthcoming)

    Denis Gromb, Viral Acharya, Tanju Yorulmazer, "Imperfect Competition in the Interbank Market for liquidity as a rationale for central banking" American Economic Journal, Macroeconomics (forthcoming)


    Federico Ravenna, Carl Walsh: "Monetary Policy and Labor Market Frictions: A Tax Interpretation ", Journal of Monetary Economics, March 2012, 59(2): 180-195

    Francesco Lippi, Fernando Alvarez, Luigi Guiso : "Durable consumption and asset management with transaction and observation cost", American Economic Review, August (pp. 2272-2300)


    Hyun Song Shin, Gara Afonso : « Precautionary demand and liquidity in payment system  », Journal of Credit, Money and Banking, vol.43, issue supplement, S2, (pp 589-619), octobre 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.

    Albert Marcet, Klaus Adam, Juan Pablo Nicolini : "Internal rationality, Imperfect Market Knowledge and Asset Prices", Journal of Economic Theory, May, (1224-1252)