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10 novembre 2014
Patrick Fève et Jean-Guillaume Sahuc
n° 14-536, 7 novembre 2014, révision mars 2016
This paper applies the DSGE-VAR methodology to assess the size of fiscal multipliers in the data and the relative contributions of two transmission mechanisms of government spending shocks, namely hand-to-mouth consumers and Edgeworth complementarity. Econometric experiments show that a DSGE model...
n° 840, 7 novembre 2014
Hand-to-mouth consumers and Edgeworth complementarity between private consumption and public expenditures are two competing mechanisms that were put forward by the literature to investigate the effects of government spending. Using Bayesian prior and posterior analysis and several econometric...
Augustin Landier et David Thesmar
6 novembre 2014
Christophe Bontemps et Céline Nauges
n° 14-537, 5 novembre 2014
Individuals are commonly surveyed about their perception or assessment of risk and these variables are often used to explain individuals’ actions to protect themselves against these risks. Perceptions appear as endogenous variables in traditional theoretical averting-decision models but, quite...
Marc Ivaldi
5 novembre 2014
4 novembre 2014
Laurence Lescourret et Sophie Moinas
n° 14-533, octobre 2014, révision mars 2015
Market fragmentation and technology have given rise to new trading strategies. One of them is to supply liquidity simultaneously across multiple trading venues, which requires multi-venue management of inventory risk. We build an inventory model in which order ow fragments across two venues, and...
