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Henri Pagès
 Fondation Banque de France, DGEI 49-1431, 75049 Paris Cedex 01, France
 henri.pages@banque-france.fr
fondation.rech@banque-france.fr
 +33 (0)1 42 92 29 99
 +33 (0)1 42 92 49 37
Diploma: Ph.D., Economics Economics Department, Massachussetts Institute of Technology, Cambridge, (February 1989); Civil Engineer École Nationale Supérieure des Mines de Paris, 1975
Current Position: Research and International Relations,
Scientific Advisor
Previous Positions: Bank of France's Foundation for Research,
Secretary; Economic Studies and Research Department, Deputy Director |
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Research Interests: Microeconomics of Banking, Financial Intermediation, Credit Derivatives, Continuous-Time Finance
Working papers
"Bank incentives and optimal CDOs" (2009), Banque de France, Document de travail, n° 253.
"Settlement finality as a public good in large-value payment systems" (2005), with D. Humphrey, European Central Bank Working Paper 506.
"Can liquidity risk be subsumed in credit risk? A case study from Brady bond prices" (2001), Bank for International Settlements Working Paper, 101.
"A note on the Gordon growth model with nonstationary dividend growth" (1999), Bank for International Settlements Working Paper 75.
"Is there a premium for currencies correlated with volatility: Some evidence from risk reversals" (1996), Banque de France, Notes d'Études et de Recherche 34.
"Optimal Consumption and Portfolio Policies When Markets are Incomplete" (1989), Banque de France, Notes d'Etudes et de Recherche, 1 et Working paper (Sloan School of Management) ; 1883-87.
Articles
Optimal Supervisory Policies and Depositor-Preference Laws" (2004), with J. Santos, Journal of Banking Law, April.
"Derivative Asset Pricing with Transaction Costs" (1992), with B. Bensaid, J.P. Lesne, and J. Scheinkman, Mathematical Finance, reedited by G. Constantinides et A. Malliaris, Options Markets, Edwar Elgar Publishing, Oxon (UK), 2001.
"Interbank Interest Rates and the Risk Premium"(2000), The Review of Fixed Income.
"Labor Income, Borrowing Constraints, and Equilibrium Asset Prices" (1993), with H He, Economic Theory.
"Optimal Consumption and Portfolio Policies with an Infinite Horizon: Existence and Convergence" (1992), with C. Huang, The Annals of Applied Probability.
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