•   New
  • Seminars in December

    5 December 2016 (11:30-12:30- Auditorium)
    David Thesmar (MIT)
    "Aggregate Effects of Collateral Constraints"

    16 décembre 2016 (14:30-15:30 - room 4)
    Marco Bassetto (NBER)
    "The Interplay between Financial Conditions and Monetary Policy Shocks"


    Joint Conference Banque de France Foundation and Institut Louis Bachelier

    On Monday November 7, the outcome of eight research projects funded either by the Banque de France Foundation or by the Institut Louis Bachelier will be presented at Banque de France (Conference Center Auditorium).

    The conference will be organized in 4 sessions : Contagion, Liquidity and Counterparty Risks, Banking Regulation, and Credit Crisis. The program is available here

    10th Joint French Macro Workshop

    The Foundation Banque de France, together with CREST/Ecole Polytechnique, PSE, Sciences Po, TSE is organizing the 10th Joint French Macro Workshop on 9 December 2016 at Banque de France (Paris). Applications from Europe-based economists should be sent to fondation.rech@banque-france.fr by 16 October

    Registration 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. Visiting scholars are selected through calls for proposals.

    The submission deadline for visits taking place in 2017 will be 20 november 2016.

    call for applications 

    Submission Form 

    21th call for proposals of research projects

    Foundation Banque de France launches its 21th call for proposals of research projects. Four grants are typically awarded for a total amount of EUR 120 000. Deadline for applying is: 30 november 2016.

    Call for proposals 

    Submission Form 

    Monetary, Financial, and Banking Thesis Prize 2016

    The Foundation launches its Monetary Thesis Prize jointly with the French Economic Association (AFSE).

    The prize rewards a thesis in the field of Money, Financial and Banking economics.

    Applications should be sent to the AFSE Secretariat by 15 March 2016.

    Publications of Foundation's research projects in international journals


    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)