Details about Ariane Szafarz

Homepage:	http://www.arianeszafarz.eu/
Workplace:	Centre Emile Bernheim, Solvay Brussels School of Economics and Management, Université Libre de Bruxelles (Free University of Brussels), (more information at EDIRC) Centre for European Research in Microfinance (CERMi), (more information at EDIRC)

Access statistics for papers by Ariane Szafarz.

Last updated 2023-05-08. Update your information in the RePEc Author Service.

Short-id: psz11

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Working Papers

2023

1. Sensitivity to measurement errors of the distance to the efficient frontier
   Working Papers CEB, ULB -- Universite Libre de Bruxelles
   Also in LIDAM Discussion Papers ISBA, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA) (2023)

2022

2. Feasible Institutions of Social Finance: A Taxonomy
   Post-Print, HAL
   Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2021) View citations (1)
   See also Journal Article in Journal of Institutional and Theoretical Economics (JITE) (2022)
3. Gold, Bitcoin, and Portfolio Diversification: Lessons from the Ukrainian War
   Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)
   See also Journal Article in Resources Policy (2023)
4. Subsidies to microfinance institutions: How do they affect cost efficiency and mission drift?
   Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (3)
   See also Journal Article in Applied Economics (2022)
5. The Changing Role of Banks in the Financial System: Social versus Conventional Banks
   Economics Working Paper Archive (University of Rennes 1 & University of Caen), Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS
   Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2022)
   See also Chapter (2023)

2021

6. Choice Overload? Participation and Asset Allocation in French Employer-Sponsored Saving Plans
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
7. Crowding-In or Crowding-Out? How Subsidies Signal the Path to Financial Independence of Social Enterprises
   Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)
8. When it Rains, it Pours: Multifactor Asset Management in Good and Bad Times
   Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)
   See also Journal Article in Journal of Financial Research (2021)
9. Women in the Boardroom: A Bottom-up Approach to the Trickle-down Effect
   Working Papers CEB, ULB -- Universite Libre de Bruxelles
   Also in LIDAM Discussion Papers IRES, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) (2021)
   See also Journal Article in Small Business Economics (2022)

2020

10. Anchors Aweigh? Then Time to Head Upstream Why we Need to Theorize “Mission” before “Drift”
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (12)
11. Did Globalization Kill Contagion?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Working Papers, IESEG School of Management (2020) View citations (1)
12. Financial Inclusion in High-Income Countries: Gender Gap or Poverty Trap ?
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)
    See also Chapter (2023)
13. The Business Model of Social Banks
    Post-Print, HAL View citations (7)
    Also in Working Papers, HAL (2019)
    Economics Working Paper Archive (University of Rennes 1 & University of Caen), Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS (2019) View citations (4)
    See also Journal Article in Kyklos (2020)
14. The Regulation of Prosocial Lending: Are Loan Ceilings Effective?
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (5)
    See also Journal Article in Journal of Banking & Finance (2020)
15. Women Leaders and Social Performance: Evidence from Financial Cooperatives in Senegal
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2015) View citations (21)
    See also Journal Article in World Development (2015)

2019

16. A long time ago in a galaxy far, far away… How microfinance evolved and how research followed
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
17. Do social enterprises walk the talk? Assessing microfinance performances with mission statements
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (12)
    See also Journal Article in Journal of Business Venturing Insights (2019)
18. Ethics of Randomized Controlled Trials: Should Economists Care about Equipoise?
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
19. Good Diversification is Never Wasted: How to Tilt Factor Portfolios with Sectors
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
    See also Journal Article in Finance Research Letters (2020)
20. The Microfinance Alphabet
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)
21. Too Many Cooks Spoil the Broth: The Conflicting Impacts of Subsidies and Deposits on the Cost-Efficiency of Microfinance Institutions
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)

2018

22. A Theory of Social Finance
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (5)
    Also in Economics Working Paper Archive (University of Rennes 1 & University of Caen), Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS (2018) View citations (5)
    Working Papers, HAL (2018) View citations (5)
23. Earning to Give: Occupational Choice for Effective Altruists
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
24. Factors and Sectors in Asset Allocation: Stronger Together?
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (6)
25. Gender Biases in Bank Lending: Lessons from Microcredit in France
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (28)
    Also in Post-Print, HAL (2018) View citations (25)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2015) View citations (14)
    See also Journal Article in Journal of Business Ethics (2018)
26. How Costly is Social Screening? Evidence from the Banking Industry
    Post-Print, HAL View citations (3)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2017)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2018) View citations (3)
    See also Journal Article in Economics Bulletin (2018)

2017

27. Aid Volatility and Social Performance in Microfinance
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (13)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2016) View citations (12)
28. Behavioral Banking: A Theory of the Banking Firm with Time-Inconsistent Depositors
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
29. Cross-Ownership: A Device for Management Entrenchment?
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2016) View citations (1)
    See also Journal Article in Review of Finance (2017)
30. Europe vs. the U.S. A New Look at the Syndicated Loan Pricing Puzzle
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)
    Also in Post-Print, HAL (2017) View citations (2)
    See also Journal Article in Economics Letters (2017)
31. Factor Investing: The Rocky Road from Long-Only to Long-Short
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (7)
32. Microfinance and Gender: Issues, Challenges and the Road Ahead
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (19)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2016) View citations (4)
    See also Journal Article in Journal of Development Studies (2017)

2016

33. Discipline and Flexibility: A Behavioral Perspective on Microfinance Product Design
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (7)
    See also Journal Article in Oxford Development Studies (2017)
34. Discipline and Flexibility: A Behavioral Perspective on Product Design in Microfinance
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (3)
35. Microcredit in Industrialized Countries: Unexpected Consequences of Regulatory Loan Ceilings
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (4)
36. Selectivity and Transparency in Social Banking: Evidence from Europe
    Economics Working Paper Archive (University of Rennes 1 & University of Caen), Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS View citations (16)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2016) View citations (16)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2015)
    Post-Print, HAL (2016) View citations (13)
    See also Journal Article in Journal of Economic Issues (2016)
37. The Cost of Empowerment: Multiple Sources of Women’s Debt in Rural India
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (5)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2014) View citations (3)
    See also Journal Article in Journal of Development Studies (2017)
38. The Price of Deposit Liquidity: Banks versus Microfinance Institutions
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (3)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2016) View citations (6)
    See also Journal Article in Applied Economics Letters (2016)
39. Towards Greater Diversification in Central Bank Reserves
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
    Also in EconomiX Working Papers, University of Paris Nanterre, EconomiX (2015) View citations (1)
    Post-Print, HAL (2016)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2015) View citations (1)
    See also Journal Article in Journal of Asset Management (2016)
40. What Type of Microfinance Institutions Supply Savings Products?
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (11)
    Also in Post-Print, HAL (2016) View citations (11)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2016) View citations (11)
    See also Journal Article in Economics Letters (2016)

2015

41. Discrimination by Microcredit Officers: Theory and Evidence on Disability in Uganda
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (23)
    Also in DULBEA Working Papers, ULB -- Universite Libre de Bruxelles (2011) View citations (4)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2010) View citations (11)
    See also Journal Article in The Quarterly Review of Economics and Finance (2015)
42. Does Commercial Microfinance Belong to the Financial Sector? Lessons from the Stock Market
    Post-Print, HAL View citations (27)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2014)
    See also Journal Article in World Development (2015)
43. Factor-Based v. Industry-Based Asset Allocation: The Contest
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
44. Market Efficiency and Crises: Don’t Throw the Baby out with the Bathwater
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2015)
    See also Journal Article in Bankers, Markets & Investors (2015)
45. Virtual Currency, Tangible Return: Portfolio Diversification with Bitcoin
    Post-Print, HAL View citations (221)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2013) View citations (52)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2015) View citations (200)
    See also Journal Article in Post-Print CEB (2015)
46. Women at the Top in Developing Countries: Evidence from Firm-Level Data
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (5)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2015) View citations (5)

2014

47. Female Managers in Hybrid Organizations: Evidence from Financial Cooperatives in Senegal
    LIDAM Discussion Papers IRES, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)
48. Having it Both Ways: A Theory of the Banking Firm with Time-Consistent and Time-Inconsistent Depositors
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (3)
49. Issues in Identifying Economic Crises: Insights from History
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
50. Microcredit in Developed Countries: Unexpected Consequences of Loan Ceilings
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (8)
51. The Liquidity Premium: Commercial Banks versus Microfinance Institutions
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
52. Vive la Différence: Social Banks and Reciprocity in the Credit Market
    Post-Print, HAL View citations (16)
    Also in Post-Print, HAL (2013) View citations (7)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2014) View citations (36)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2012) View citations (1)
    See also Journal Article in Journal of Business Ethics (2014)

2013

53. Art Market Inefficiency
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (24)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2013) View citations (24)
    See also Journal Article in Economics Letters (2013)
54. Borrowing and Women’s Empowerment: Does Type of Credit Matter?
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)
55. Defining Social Collateral in Microfinance Group Lending
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (8)
    See also Chapter (2014)
56. Female Access to Credit in France: How Microfinance Institutions Import Disparate Treatment from Banks
    Working Papers, HAL View citations (2)
    Also in AMSE Working Papers, Aix-Marseille School of Economics, France (2013) View citations (2)
57. Flexible Products in Microfinance: Overcoming the Demand-Supply Mismatch
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (3)
58. Is the Market Portfolio Efficient? A New Test of Mean-Variance Efficiency when all Assets are Risky
    Post-Print, HAL View citations (19)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2012) View citations (6)
    See also Journal Article in Finance (2013)
59. Microfinance and Gender: Is There a Glass Ceiling on Loan Size?
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (119)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2010) View citations (10)
    See also Journal Article in World Development (2013)
60. Subjectivity in Credit Allocation to Micro-Entrepreneurs: Evidence from Brazil
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (40)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2011) View citations (16)
    See also Journal Article in Small Business Economics (2013)
61. Unsubsidized Microfinance Institutions
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (68)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2013) View citations (72)
    See also Journal Article in Economics Letters (2013)
62. Which Short-Selling Regulation is the Least Damaging to Market Efficiency? Evidence from Europe
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2012) View citations (1)
    See also Journal Article in International Review of Law and Economics (2014)
63. Women’s Access to Credit in France: How Microfinance Institutions Import Disparate Treatment from Banks
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)

2012

64. Addressing Economic Crises: The Reference-Class Problem
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)
65. Child Gender and Parental Borrowing: Evidence from India
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (10)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2011) View citations (1)
    See also Journal Article in Economics Letters (2012)
66. Financial crises in efficient markets: How fundamentalists fuel volatility
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (14)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2010) View citations (1)
    See also Journal Article in Journal of Banking & Finance (2012)
67. No Contagion, only Globalization and Flight to Quality
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (65)
    Also in Post-Print, HAL (2012) View citations (65)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2012) View citations (66)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2012) View citations (68)
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles (2008) View citations (6)
    See also Journal Article in Journal of International Money and Finance (2012)
68. Social banks in the credit market: How do they operate?
    Post-Print, HAL
69. The Time-Inconsistency Factor: How Banks Adapt to their Mix of Savers
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)

2011

70. Corporate Control with Cross-Ownership
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
71. Credit to Women Entrepreneurs: The Curse of the Trustworthier Sex
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (11)
72. Investment in Microfinance Equity: Risk, Return, and Diversification Benefits
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)
73. Is the Market Portfolio Efficient? A New Test to Revisit the Roll (1977) versus Levy and Roll (2010) Controversy
    EconomiX Working Papers, University of Paris Nanterre, EconomiX
74. On Mission Drift in Microfinance Institutions
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (93)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2009) View citations (26)
    MPRA Paper, University Library of Munich, Germany (2010) View citations (5)
    See also Chapter (2011)
75. Subsidy Uncertainty and Microfinance Mission Drift
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (15)
76. The Inference Fallacy From Bernoulli to Kolmogorov
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
77. The Modern Corporation as a Safe Haven for Taste-Based Discrimination: An Agency Model of Hiring Decisions
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (18)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
    See also Journal Article in Labour Economics (2011)

2010

78. How Did Financial-Crisis-Based Criticisms of Market Efficiency Get It So Wrong?
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (3)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2009) View citations (4)
79. Sector Classification through non-Gaussian Similarity
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (4)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2008) View citations (5)

2009

80. Discrimination in Microfinance: The Role of Credit Officers
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (2)
81. Efficience des marchés (2ème édition)
    Post-Print, HAL
82. Efficience des marchés: concepts, bulles spéculatives et image comptable
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (2)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2003) View citations (3)
    Post-Print, HAL (2003)
83. Observing bailout expectations during a total eclipse of the sun
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (7)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2008) View citations (18)
    See also Journal Article in Journal of International Money and Finance (2010)
84. The Special Status of Mathematical Probability: A Historical Sketch
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (3)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2008) View citations (2)
85. Valuing homeownership
    Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (1)
    See also Journal Article in The Journal of Real Estate Finance and Economics (2011)

2008

86. An Alternative to Statistical Discrimination
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (5)
87. An alternative to statistical discrimination theory
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (4)
    See also Journal Article in Economics Bulletin (2008)
88. Crisis-Robust Bond Portfolios
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (15)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2007) View citations (1)
89. Inverting Bernoulli's theorem: the original sin
    Working Papers CEB, ULB -- Universite Libre de Bruxelles
90. Labor market discrimination as an agency cost
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (2)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2008)

2007

91. A general formula for the WACC: A Reply
    Post-Print, HAL
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2007)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2007)
92. Control consolidation with a threshold: An algorithm
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (10)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2006) View citations (3)
93. Hiring people-like-yourself: a representation of discrimination on the job market
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (9)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2007) View citations (9)

2006

94. A general formula for the WACC
    Post-Print, HAL View citations (7)
    Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2005) View citations (8)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2006) View citations (21)
95. Sector diversification during crises: a European perspective
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (21)
96. Stratégies d'investissement en actions et fonds à capital garanti
    Working Papers CEB, ULB -- Universite Libre de Bruxelles

2005

97. Controlling firms through the majority voting rule
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (59)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2005) View citations (61)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2005) View citations (58)
    See also Journal Article in Physica A: Statistical Mechanics and its Applications (2005)
98. L'efficience informationnelle des marchés: une hypothèse, et au-delà ?
    Post-Print, HAL
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2005) View citations (1)
    ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2005) View citations (1)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2004)
99. Les leviers de contrôle des actionnaires majoritaires
    DULBEA Working Papers, ULB -- Universite Libre de Bruxelles View citations (23)
    Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2005) View citations (19)
    Working Papers CEB, ULB -- Universite Libre de Bruxelles (2002) View citations (24)
100. Obligations souveraines: situation du marché, évaluation du risque-pays et gestion des défauts
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles

2004

101. Marchés financiers et anticipations rationnelles
     Post-Print, HAL
     Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (2004)
     See also Journal Article in Reflets et perspectives de la vie économique (2004)
102. Mathématiques appliquées à la gestion
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
103. One Asset, Two Prices: The case of the Tsarist Repudiated Bonds
     Economic History, University Library of Munich, Germany View citations (3)
     Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2004) View citations (5)

2003

104. L'effet de l'âge de l'investisseur sur le niveau de risque de son portefeuille
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
     Also in Working Papers CEB, ULB -- Universite Libre de Bruxelles (2003)
105. The design of effective Central Bank interventions: the yen/dollar case
     Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (7)

2002

106. Les indices DJ Stoxx reflètent-ils le marché des actions européennes ?
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
107. Ownership and control: dissecting the pyramid
     Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (14)

1999

108. Multivariate Unit root Tests of the PPP Hypothesis
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (31)
     See also Journal Article in Journal of Empirical Finance (1999)

1998

109. Testing for Spurious Causality in Exchange Rates
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (20)
     See also Journal Article in Journal of Empirical Finance (1998)

1997

110. Econométrie de la Finance: approches historiques
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (10)
111. Testing the Information Structure of Eastern European Markets: The Warsaw Stock Exchange
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (7)
     Also in Ace Project Memoranda, Department of Economics, University of Leicester
     See also Journal Article in Economic Change and Restructuring (1997)

1996

112. An enlarged definition of cointegration
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (10)
     See also Journal Article in Economics Letters (1996)
113. European R&D at the crossroads
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
114. Processus stochastiques en finance (1ère partie)
     FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE), EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)
     Also in FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE), EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil) (1996)

1995

115. Bulles spéculatives: de la théorie à la réalité
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
116. Multivariate unit root tests
     Working Papers CEB, ULB -- Universite Libre de Bruxelles View citations (6)
117. Solutions of Multivariate Rational Expectations Models
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (16)
     Also in LIDAM Reprints CORE, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) (1995) View citations (6)
     See also Journal Article in Econometric Theory (1995)
118. Volatilité des marchés financiers: chaos, irrationalité ou illusion d'optique ?
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles

1994

119. Agents, Econometricians and the Identification of Conditional Systems
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
120. Efficient markets do not cointegrate
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (1)
121. Exchange rate volatility in high-inflation economies: an econometric study of Poland and Brazil
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (1)
     See also Journal Article in Economic Change and Restructuring (1994)

1993

122. Speculative Bubbles and Financial Markets
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (18)
     Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (1992) View citations (21)
     See also Journal Article in Oxford Economic Papers (1992)

1992

123. Minimal Identification of Dynamic Rational Expectations Systems
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (1)
     See also Journal Article in Revista Brasileira de Economia - RBE (1992)

1991

124. Computation of multipliers in multivariate rational expectations models
     LIDAM Discussion Papers CORE, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) View citations (2)
125. The Econometric Analysis of Non-Uniqueness in Rational Expectations Models
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (35)
126. True Versus Spurious Instantaneous Causality
     Working Papers, Universite Libre de Bruxelles - C.E.M.E. View citations (6)

1990

127. Reduced Forms of Rational Expectations Models
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (13)
128. The Ratchet Effect and the Planner's Expectations
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (4)
     Also in Working Papers, Universite Libre de Bruxelles - C.E.M.E. (1988)
     See also Journal Article in European Economic Review (1990)

1989

129. Crises boursières, bulles spéculatives et rationalité économique
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
130. Speculative Bubbles and Exchange of Information on the Market of a Storable Good
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (2)

1988

131. ON THE DEFINITION OF SPECULATIVE BUBBLES
     Working Papers, Universite Libre de Bruxelles - C.E.M.E. View citations (1)

1987

132. On Econometric Models with Rational Expectations
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (2)
     Also in ULB Institutional Repository, ULB -- Universite Libre de Bruxelles (1985) View citations (3)

1986

133. Bulles spéculatives et transmission d'information sur le marché d'un bien stockable
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
     See also Journal Article in L'Actualité Economique (1986)
134. Identification & consistent estimation of multi-variate linear models with rational expectations of current variables
     CEPREMAP Working Papers (Couverture Orange), CEPREMAP View citations (1)
135. Reduction and identification of simultaneous equations models with rational expectations
     CEPREMAP Working Papers (Couverture Orange), CEPREMAP

1985

136. Forme réduite d'un modèle général à anticipations rationnelles
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (3)
137. L'Evolution du concept de probabilité mathématique de Pascal à Laplace. Article paru dans Technologia, 1985, 8, 3, pp.67-75
     Working Papers CEB, ULB -- Universite Libre de Bruxelles
138. L'évolution du concept de Probabilité de Pascal à Laplace
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
139. Mean Lifetime of a two-unit non-homogenous reliability system
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
140. Solutions des modèles linéaires à anticipations rationnelles
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (1)
141. Solutions of Dynamic Linear Rational Expectations Models
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (14)
     Also in CEPREMAP Working Papers (Couverture Orange), CEPREMAP (1984) View citations (2)

1984

142. On Linear Models with Rational Expectations which Admit a Unique solution
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (5)
     See also Journal Article in European Economic Review (1984)
143. On Solutions of Linear Models with Rational Expectations
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles View citations (2)
144. Richard von Mises:l'échec d'une axiomatique
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles

Undated

145. Difficultés liées à la définition de la probabilité mathématique
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles
146. Instabilité financière et théorie économique
     ULB Institutional Repository, ULB -- Universite Libre de Bruxelles

Journal Articles

2023

1. Gold, bitcoin, and portfolio diversification: Lessons from the Ukrainian war
   Resources Policy, 2023, 83, (C)
   See also Working Paper (2022)

2022

2. Feasible Institutions of Social Finance: A Taxonomy
   Journal of Institutional and Theoretical Economics (JITE), 2022, 178, (3), 280-310
   See also Working Paper (2022)
3. Precautionary Liquidity and Retirement Saving
   AEA Papers and Proceedings, 2022, 112, 147-50 View citations (1)
4. Subsidies to microfinance institutions: how do they affect cost efficiency and mission drift?
   Applied Economics, 2022, 54, (44), 5099-5132 View citations (3)
   See also Working Paper (2022)
5. Women in the boardroom: a bottom–up approach to the trickle-down effect
   Small Business Economics, 2022, 58, (4), 1783-1800
   See also Working Paper (2021)

2021

6. When it rains, it pours: Multifactor asset management in good and bad times
   Journal of Financial Research, 2021, 44, (3), 641-669 View citations (2)
   See also Working Paper (2021)

2020

7. Good diversification is never wasted: How to tilt factor portfolios with sectors
   Finance Research Letters, 2020, 33, (C) View citations (4)
   See also Working Paper (2019)
8. The Business Model of Social Banks
   Kyklos, 2020, 73, (2), 196-226 View citations (7)
   See also Working Paper (2020)
9. The regulation of prosocial lending: Are loan ceilings effective?
   Journal of Banking & Finance, 2020, 121, (C) View citations (5)
   See also Working Paper (2020)

2019

10. Do social enterprises walk the talk? Assessing microfinance performances with mission statements
    Journal of Business Venturing Insights, 2019, 11, (C), - View citations (13)
    See also Working Paper (2019)

2018

11. Gender Biases in Bank Lending: Lessons from Microcredit in France
    Journal of Business Ethics, 2018, 147, (3), 631-650 View citations (27)
    See also Working Paper (2018)
12. How Costly is Social Screening? Evidence from the Banking Industry
    Economics Bulletin, 2018, 38, (1), 532-540 View citations (3)
    See also Working Paper (2018)

2017

13. Cross-Ownership: A Device for Management Entrenchment?
    Review of Finance, 2017, 21, (4), 1675-1699
    See also Working Paper (2017)
14. Discipline and flexibility: a behavioural perspective on microfinance product design
    Oxford Development Studies, 2017, 45, (3), 321-337 View citations (9)
    See also Working Paper (2016)
15. Europe vs. the U.S.: A new look at the syndicated loan pricing puzzle
    Economics Letters, 2017, 160, (C), 50-53 View citations (2)
    See also Working Paper (2017)
16. Microfinance and Gender: Issues, Challenges and The Road Ahead
    Journal of Development Studies, 2017, 53, (5), 641-648 View citations (18)
    See also Working Paper (2017)
17. The Cost of Empowerment: Multiple Sources of Women’s Debt in Rural India
    Journal of Development Studies, 2017, 53, (5), 700-722 View citations (8)
    See also Working Paper (2016)

2016

18. Selectivity and Transparency in Social Banking: Evidence from Europe
    Journal of Economic Issues, 2016, 50, (2), 494-502 View citations (10)
    See also Working Paper (2016)
19. The price of deposit liquidity: banks versus microfinance institutions
    Applied Economics Letters, 2016, 23, (17), 1244-1249 View citations (3)
    See also Working Paper (2016)
20. Towards greater diversification in central bank reserves
    Journal of Asset Management, 2016, 17, (4), 295-312
    See also Working Paper (2016)
21. What type of microfinance institutions supply savings products?
    Economics Letters, 2016, 140, (C), 57-59 View citations (11)
    See also Working Paper (2016)

2015

22. Discrimination by microcredit officers: Theory and evidence on disability in Uganda
    The Quarterly Review of Economics and Finance, 2015, 58, (C), 44-55 View citations (25)
    See also Working Paper (2015)
23. Does Commercial Microfinance Belong to the Financial Sector? Lessons from the Stock Market
    World Development, 2015, 67, (C), 110-125 View citations (26)
    Also in Post-Print CEB, 2015, 67, 110-125 (2015) View citations (30)
    See also Working Paper (2015)
24. Identifying economic crises: insights from history
    Financial History Review, 2015, 22, (1), 1-18 View citations (2)
25. Market Efficiency and Crises:Don’t Throw the Baby out with the Bathwater
    Bankers, Markets & Investors, 2015, (139), 20-26
    See also Working Paper (2015)
26. Virtual Currency, Tangible Return: Portfolio Diversification with Bitcoins
    Post-Print CEB, 2015, 16, (6), 365-373 View citations (228)
    See also Working Paper (2015)
27. Women Leaders and Social Performance: Evidence from Financial Cooperatives in Senegal
    World Development, 2015, 74, (C), 437-452 View citations (21)
    See also Working Paper (2020)

2014

28. Vive la Différence: Social Banks and Reciprocity in the Credit Market
    Journal of Business Ethics, 2014, 125, (3), 361-380 View citations (55)
    Also in Post-Print CEB, 2014, 125, (3), 361-380 (2014) View citations (30)
    See also Working Paper (2014)
29. Which short-selling regulation is the least damaging to market efficiency? Evidence from Europe
    International Review of Law and Economics, 2014, 37, (C), 244-256 View citations (7)
    Also in Post-Print CEB, 2014, 37, 244-256 (2014) View citations (6)
    See also Working Paper (2013)

2013

30. Art market inefficiency
    Economics Letters, 2013, 121, (1), 23-25 View citations (25)
    See also Working Paper (2013)
31. Is the Market Portfolio Efficient? A New Test of Mean-Variance Efficiency when all Assets are Risky
    Finance, 2013, 34, (1), 7-41 View citations (13)
    See also Working Paper (2013)
32. Microfinance and Gender: Is There a Glass Ceiling on Loan Size?
    World Development, 2013, 42, (C), 165-181 View citations (112)
    See also Working Paper (2013)
33. Subjectivity in credit allocation to micro-entrepreneurs: evidence from Brazil
    Small Business Economics, 2013, 41, (1), 263-275 View citations (42)
    See also Working Paper (2013)
34. Unsubsidized microfinance institutions
    Economics Letters, 2013, 120, (2), 174-176 View citations (68)
    See also Working Paper (2013)

2012

35. Child gender and parental borrowing: Evidence from India
    Economics Letters, 2012, 115, (3), 363-365 View citations (9)
    See also Working Paper (2012)
36. Financial crises in efficient markets: How fundamentalists fuel volatility
    Journal of Banking & Finance, 2012, 36, (1), 105-111 View citations (14)
    See also Working Paper (2012)
37. No contagion, only globalization and flight to quality
    Journal of International Money and Finance, 2012, 31, (6), 1729-1744 View citations (61)
    See also Working Paper (2012)

2011

38. The modern corporation as a safe haven for taste-based discrimination: An agency model of hiring decisions
    Labour Economics, 2011, 18, (4), 487-497 View citations (15)
    See also Working Paper (2011)
39. Valuing Homeownership
    The Journal of Real Estate Finance and Economics, 2011, 43, (4), 491-504 View citations (3)
    See also Working Paper (2009)

2010

40. Observing bailout expectations during a total eclipse of the sun
    Journal of International Money and Finance, 2010, 29, (7), 1193-1205 View citations (19)
    See also Working Paper (2009)

2008

41. An alternative to statistical discrimination theory
    Economics Bulletin, 2008, 10, (5), 1-6 View citations (4)
    See also Working Paper (2008)

2006

42. Size matters: Central bank interventions on the Yen/Dollar exchange rate
    Brussels Economic Review, 2006, 49, (1), 5-20 View citations (2)

2005

43. Controlling firms through the majority voting rule
    Physica A: Statistical Mechanics and its Applications, 2005, 355, (2), 509-529 View citations (58)
    Also in Post-Print CEB, 2005, 355, (2-4), 509-529 (2005) View citations (56)
    See also Working Paper (2005)

2004

44. Marchés financiers et anticipations rationnelles
    Reflets et perspectives de la vie économique, 2004, XLIII, (2), 7-17 View citations (1)
    See also Working Paper (2004)

1999

45. Multivariate unit root tests of the PPP hypothesis
    Journal of Empirical Finance, 1999, 6, (4), 335-353 View citations (34)
    See also Working Paper (1999)

1998

46. Testing for spurious causality in exchange rates
    Journal of Empirical Finance, 1998, 5, (1), 47-66 View citations (20)
    See also Working Paper (1998)

1997

47. Testing the Information Structure of Eastern European Markets: The Warsaw Stock Exchange
    Economic Change and Restructuring, 1997, 30, (2), 91-105 View citations (7)
    Also in Economic Change and Restructuring, 1997, 30, (2-3), 91-105 (1997) View citations (7)
    See also Working Paper (1997)

1996

48. An enlarged definition of cointegration
    Economics Letters, 1996, 50, (2), 193-195 View citations (13)
    See also Working Paper (1996)

1995

49. Solutions of multivariate Rational Expectations Models
    Econometric Theory, 1995, 11, (2), 229-257 View citations (19)
    See also Working Paper (1995)

1994

50. Agents, Econometricians and the Identification of Rational Expectations Systems
    Brazilian Review of Econometrics, 1994, 14, (1)
51. Exchange Rate Volatility in High Inflation Economies: An Econometric Study of Poland and Brazil
    Economic Change and Restructuring, 1994, 27, (3), 277-92 View citations (2)
    See also Working Paper (1994)

1992

52. Minimal identification of dynamic rational expectations systems
    Revista Brasileira de Economia - RBE, 1992, 46, (3)
    See also Working Paper (1992)
53. Speculative Bubbles and Financial Markets
    Oxford Economic Papers, 1992, 44, (4), 626-40 View citations (24)
    See also Working Paper (1993)

1990

54. The ratchet effect and the planner's expectations
    European Economic Review, 1990, 34, (5), 1079-1098 View citations (4)
    See also Working Paper (1990)

1986

55. Bulles spéculatives et transmission d’information sur le marché d’un bien stockable
    L'Actualité Economique, 1986, 62, (2), 166-184
    See also Working Paper (1986)

1985

56. Solutions of Linear Rational Expectations Models
    Econometric Theory, 1985, 1, (3), 341-368 View citations (15)

1984

57. On linear models with rational expectations which admit a unique solution
    European Economic Review, 1984, 24, (1), 103-111 View citations (5)
    See also Working Paper (1984)

Chapters

2023

1. Financial inclusion in high-income countries: gender gap or poverty trap?
   Chapter 15 in Handbook of Microfinance, Financial Inclusion and Development, 2023, pp 272-296
   See also Working Paper (2020)
2. The Changing Role of Banks in the Financial System: Social Versus Conventional Banks
   Palgrave Macmillan
   See also Working Paper (2022)

2014

3. Defining Social Collateral in Microfinance Group Lending
   Palgrave Macmillan View citations (7)
   See also Working Paper (2013)

2011

4. On Mission Drift in Microfinance Institutions
   Chapter 16 in The Handbook Of Microfinance, 2011, pp 341-366 View citations (88)
   See also Working Paper (2011)