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368: Shock on Variable or Shock on Distribution with Application to Stress-Tests

Simon Dubecq and Christian Gourieroux

367: Breakeven inflation rates and their puzzling correlation relationships

Gilbert Cette and Marielle de Jong

366: The Effect of the Minimum Wage on the Average Wage in France (in French)

Gilbert Cette, Valérie Chouard and Gregory Verdugo

365: Global versus local shocks in micro price dynamics

Philippe Andrade and Marios Zachariadis

364: Global Value Chains during the Great Trade Collapse: A Bullwhip Effect?

Carlo Altomonte, Filippo di Mauro, Gianmarco Ottaviano, Armando Rungi and Vincent Vicard

363: Reserve Requirements for Price and Financial Stability - When Are They Effective?

Christian Glocker and Pascal Towbin

362: The determinants of intrafirm trade: Evidence from French firms

Gregory Corcos, Delphine Irac, Giordano Mion and Thierry Verdier

361: How do anticipated changes to short-term market rates influence banks' retail interest rates? Evidence from the four major euro area economies

Anindya Banerjee, Victor Bystrov and Paul Mizen

360: The European way out of recession

Frédérique Bec, O. Bouabdallah and Laurent Ferrara

359: A term structure model with level factor cannot be realistic and arbitrage free

Simon Dubecq and Christian Gourieroux

358: Market access in global and regional trade

José De Sousa, Thierry Mayer and Soledad Zignago

357: Capital controls and spillover effects: evidence from Latin-American countries

Frederic Lambert, Julio Ramos-Tallada and Cyril Rebillard

356: A smoke screen theory of financial intermediation

Régis Breton

355: Firm-Network Characteristics and Economic Robustness to Natural Disasters

Fanny Henriet, Stephane Hallegatte and L. Tabourier

354: Fiscal Policy Discretion, Private Spending, and Crisis Episodes

Luca Agnello, Davide Furceri and Ricardo Sousa

353: Price Stickiness and Sectoral Inflation Persistence: Additional Evidence

Hervé Le Bihan and Julien Matheron

352: Credit and liquidity risks in euro area sovereign yield curves

Alain Monfort and Jean-Paul Renne

351: Interpreting the Hours-Technology time-varying relationship

Cristiano Cantore, Filippo Ferroni and M A. Le n-Ledesma

350: Fiscal Sustainability, Default Risk and Euro Area Sovereign Bond Spreads Markets

Vladimir Borgy, Thomas Laubach, Jean-Stéphane Mésonnier and Jean-Paul Renne

349: Risk aversion and Uncertainty in European Sovereign Bond Markets

Valère Fourel and Julien Idier

348: How useful is the Marginal Expected Shortfall for the measurement of systemic exposure? A practical assessment

Julien Idier, G. Lam and Jean-Stéphane Mésonnier

347: State-Dependent Probability Distributions in Non Linear Rational Expectations Models

Jean Barthélemy and Magali Marx

346: Service deregulation, competition and the performance of French and Italian firms

Francesco Daveri, Rémy Lecat and Maria Laura Parisi

345: Debt enforcement and the return on money

Mariana Rojas-Breu

344: Wealth Effects on Consumption Plans: French Households in the Crisis

Luc Arrondel, Frédérique Savignac and Kévin Tracol

343: Capital Utilisation and Retirement

Antoine Bonleu, Gilbert Cette and Guillaume Horny

342: Measuring the NAIRU: a complementary approach

Marie-Elisabeth de la Serve and Matthieu Lemoine

341: The Exchange Rate Pass-Through in the New EU Member States

Ramona Jimborean

340: Default, liquidity and crises: an econometric framework

Alain Monfort and Jean-Paul Renne

339: The impact of unconventional monetary policy on the market for collateral: The case of the French bond market

Sanvi Avouyi-Dovi and Julien Idier

338: Median-UnbiaseDeestimation in DF-GLS Regressions and the PPP Puzzle

Claude Lopez, C J. Murray and David Papell

337: Short Note on the Unemployment Rate of the French Overseas Regions

Jean-François Hoarau, Claude Lopez and Michel Paul

336: How have global shocks impacted the real effective exchange rates of individual euro area countries since the euro's creation?

Matthieu Bussiere, Alexander Chudik and Arnaud Mehl

335: Immigration and the Occupational Choice of Natives: a Factor Proportions Approach

Javier Ortega and Gregory Verdugo

334: Unit Roots, Level Shifts and Trend Breaks in Per Capita Output: A Robust Evaluation

Mohitosh Kejriwal and Claude Lopez

333: Macroeconomic consequences of global endogenous migration: a general equilibrium analysis

Vladimir Borgy, Xavier Chojnicki, Gilles Le Garrec and Cyrille Schwellnus

332: The Stability of Macroeconomic Systems with Bayesian Learners

James Bullard and Jacek Suda

331: Impact of the crisis on potential growth: An approach based on unobserved component models (in french)

Matthieu Lemoine, Marie-Elisabeth de la Serve and M. Chetouane

330: Stock Prices and Monetary Policy Shocks: A General Equilibrium Approach

Edouard Challe and Chryssi Giannitsarou

329: Global Imbalances and Imported Disinflation in the Euro Area

Jean Barthélemy and G. Cl aud

328: Financial Constraints and Foreign Market Entries or Exits: Firm-Level Evidence from France

Philippe Askenazy, Aida Caldera, Guillaume Gaulier and Delphine Irac

327: Has Europe Been Catching Up? An Industry Level Analysis of Venture Capital Success over 1985 - 2009

R. Kraeussl and Stefan Krause-Montalbert

326: Convergence of Euro Area Inflation Rates

Claude Lopez and David Papell

325: Can Fiscal Policy Stimulus Boost Economic Recovery?

Luca Agnello and Ricardo Sousa

324: Generalized Taylor and Generalized Calvo price and wage-setting: micro evidence with macro implications

Huw Dixon and Hervé Le Bihan

323: BASEL III: Long-term impact on economic performance and fluctuations

Paolo Angelini, Laurent Clerc, V. C rdia, Leonardo Gambacorta, Andrea Gerali, Alberto Locarno, R. Motto, W. Roeger, Skander Van den Heuvel and Jan Vlcek

322: Carbon price and optimal extraction of a polluting fossil fuel with restricted carbon capture

Renaud Coulomb and Fanny Henriet

321: The possible shapes of recoveries in Markov-switching models

Frédérique Bec, O. Bouabdallah and Laurent Ferrara

320: On the Welfare Costs of Misspecified Monetary Policy Objectives

Sanvi Avouyi-Dovi and Jean-Guillaume Sahuc

319: Protectionist Responses to the Crisis: Global Trends and Implications

Matthieu Bussiere, E. P rez-Barreiro, Roland Straub and Daria Taglioni