•   New
  • 2017 Prize Young researcher in economics

    The Banque de France Foundation awards in 2017 a prize to two young researchers in economics affiliated to a university located in France, or a research center located in France.
    Each award comprises :
      -        a fellowship of EUR 3,000,
    -        a compensation of the release from teaching obligations of 40 hours of lecturing, or 60 hours of tutorial teaching, per academic year over the next two academic years.
    "Bank ratings and lending supply: evidence from sovereign downgrades"
    The deadline to apply is 31 May 2017

    Monetary, Financial, and Banking Thesis Prize 2017

    The Banque de France Foundation awards every year a Monetary Thesis Prize, of EUR 3,000. The 2017 prize will be awarded at the AFSE's 66th Congress in Nice on 19-21 June 2017 together with the AFSE thesis prize.
    The Banque de France Foundation will grant a prize to the best thesis in the field of money, finance or banking economic research, defended in France between 1 January 2016 and 31 December 2016. The jury in charge of assessing the applications is made up of persons selected by the Banque de France Foundation and by the AFSE steering committee.
    Candidates must send their application before 31 March 2017 to afse@wanadoo.fr with the following documents in PDF:

    - the thesis,
    - pre-viva reports,
    - the viva report,
    - a several-page summary of the thesis focusing on the original results that are likely to be published,
    - the article from the thesis with the greatest publication potential,
    - a CV

    To be noted :

    (a) It is important to indicate in the object field of the email : "Foundation BDF prize".
    (b) Would a candidate apply to both the AFSE and Foundation prizes he/she should send two separate applications, mentioning (object) the prize to which the candidate applies.

    Seminars 2017

    7 June (11:30-12:30 – room 3)
    Régis Barnichon (CREI)
    "Assessing the long-run effects of financial crises"

    24 May 2017 (11 :30-12 :30 – room 6)
    Christian Eufinger (IESE)
    "Whatever it takes : the real effects of unconventional monetary policy"

    Visiting scholars in 2017

    • Jasmina Arifovic (University of Vancouver)
    • Giovanni Caggiano (University of Padova)
    • Rui Pedro Esteves (University of Oxford)
    • William Mullins (University of Maryland)
    • Francisco Ruge-Marcia (McGill University)

    26 June – 7 July
    Michael Bordo (Rutgers University)

    5 – 7 June
    Régis Barnichon (Oxford University)
    Seminar on 7 June on "Assessing the long-run effects of financial crises"

    22 – 26 May
    Christian Eufinger (IESE)

    15 – 19 May
    Fergal McCann (Central Bank of Ireland)

    18 April
    Miguel Ferreira (Nova School of Business Economics)
    Seminar on 18 April on "Bank ratings and lending supply: evidence from sovereign downgrades"

    30 March – 5 April
    Yanos Zylberberg (University of Bristol)

    28 – 31 March
    Athanasios Orphanides (MIT)
    Seminar on 30 March on "The fiscal policy mix in the euro area : challenges at the zero lower bound"

    20 – 24 March
    Sabien Dobbelaere (Vrije Universiteit Amsterdam)

    8 – 9 March
    Jesper Lindé (Riksbank)

    10-12 January
    Francesco Zanetti (Oxford University)

    Publications of Foundation's research projects in international journals

    Optimal Reputation Building in the New Keynesian Model
    Robert G. King, Yang K. Lu, Ernesto Pasten
    Journal of Monetary Economics (forthcoming)
    Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades
    Manuel Adelino, Miguel A. Ferreira
    Review of Financial Studies, July 2016, volume 29, issue 7, pages 1709-1746
    Bank capital, liquid reserves, and insolvency risk
    Julien Hugonnier, Erwan Morellec
    Journal of Financial Economics (forthcoming)
    « The real effects of monetary shocks in sticky price models : a sufficient statistic approach »
    Fernando Alvarez, Hervé Le Bihan, Francesco Lippi
    American Economic Review (forthcoming)


    « Entry and Exit in OTC Derivatives Markets »
    Andrew G. Atkeson, Andrea L. Eisfeldt, Pierre-Olivier Weill
    Econometrica, volume 83, issue 6, pages 2231-2292

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


    « Hot and cold seasons in the housing markets »
    Rachel Ngai, Silvana Tenreyro
    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
    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


    « Imperfect Competition in the Interbank Market for liquidity as a rationale for central banking »
    Viral Acharya, Denis Gromb, Tanju Yorulmazer
    American Economic Journal : Macroeconomics, volume 4, issue 2, pages 184-217

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

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


    « Precautionary demand and liquidity in payment system  »
    Gara Afonso, Hyun Song Shin
    Journal of Credit, Money and Banking, vol.43, issue supplement, S2, (pp 589-619), octobre 2011
    « Welfare-Based Optimal Monetary Policy with Unemployment and Sticky Prices: A Linear-Quadratic Framework »
    Federico Ravenna, Carl E. Walsh
    American Economic Journal, Macroeconomics, Vol.3, n° 2.

    « Optimal price setting with observation and menu costs »
    Fernando Alvarez, Francesco Lippi, Luigi Paciello
    Quarterly Journal of Economics, Vol. 126, Issue 4.

    « Internal rationality, Imperfect Market Knowledge and Asset Prices»
    Klaus Adam, Albert Marcet, Juan Pablo Nicolini
    Journal of Economic Theory, Mai (pp. 1224-1252)