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177: Time-Varying Coefficients in a GMM Framework: Estimation of a Forward Looking Taylor Rule for the Federal Reserve

H. Partouche

176: Probability of informed trading: an empirical application to the euro overnight market rate

Julien Idier and S. Nardelli

175: Does uncertainty make a time-varying natural rate of interest irrelevant for the conduct of monetary policy?

Jean-Stéphane Mésonnier and Jean-Paul Renne

174: Global Ageing and Macroeconomic Consequences of Demographic Uncertainty in a Multi-regional Model

J. Alho and Vladimir Borgy

173: Measuring Long-Run Exchange Rate Pass-Through

Olivier de Bandt, Anindya Banerjee and Tomasz Kozluk

172: L volution des Crédits l habitat en France: une grille d analyse en termes de cycles

R. Kierzenkowski and V. Oung

171: L Indicateur Synth tique Mensuel d Activit (ISMA): une r vision

Olivier Darn and V ronique Brunhes-Lesage

170: Determinants of long-term interest rates in the United States and the euro area: A multivariate approach

A. De Loubens, Julien Idier and Caroline Jardet

169: The impact of financial constraints on innovation: What can be learned from a direct measure?

Frédérique Savignac

168: Understanding Asset Prices: Determinants and Policy Implications

Laurent Clerc

167: Euro money market interest rates dynamics and volatility: How they respond to recent changes in the operational framework

Caroline Jardet and Gaelle Le Fol

166: Les m thodes micro- conom triques d valuation

Denis Fougere

165: Is there a structural break in equilibrium velocity in the euro area?

Christian Bordes, Laurent Clerc and V. Marimoutou

164: Macro Price setting in the euro area: Some stylised facts from Individual Producer Price

Daniel Dias, Maarten Dossche, Erwan Gautier, Ignacio Hernando, Roberto Sabbatini, Harald Stahl and Philip Vermeulen

163: Une valuation structurelle du ratio de sacrifice dans la zone euro

Jerome Coffinet, Julien Matheron and Céline Poilly

162: DSGE Models in a Data-Rich Environment

Jean Boivin and Marc Giannoni

161: Bubble-free interest-rate rules

Olivier Loisel

160: The Behaviour of Producer Prices: some Evidence from the French PPI Micro Data

Erwan Gautier

159: Stock exchanges industry consolidation and shock transmission

Julien Idier

158: Convergence in Household Credit Demand Across Euro Area Countries: Evidence from Panel Data

Olivier de Bandt, Catherine Bruno and Wydad El Amri

157: The Reliability of Macroeconomic Forecasts based on Real Interest Rate Gap Estimates in Real Time: an Assessment for the Euro Area

Jean-Stéphane Mésonnier

156: Trends in "structural" productivity levels in the major industrialized countries

Renaud Bourlès and Gilbert Cette

155: The Cross-Section of Foreign Currency Risk Premia and Consumption Growth Risk

Hanno Lustig and Adrien Verdelhan

154: Risk Insurance in a Transition Economy: Evidence from Rural Romania

Delphine Irac and Camelia Minoiu

153: Revisiting the proximity-concentration trade-off: Distance and Horizontal Foreign Direct Investment in OECD countries

Delphine Irac

152: R formes structurelles sur le marché du travail: quels enseignements peut-on tirer des tudes existantes ?

Denis Fougere

151: Declining Valuations and Equilibrium Bidding Central Bank Refinancing Operations

N. Cassola, Christian Ewerhart and Natacha Valla

150: Monetary Policy Inertia or Persistent Shocks?

Julio Carrillo, Patrick Fève and Julien Matheron

149: Financial (Dis)Integration

Enisse Kharroubi

148: How Well Does a Small Structural Model with Sticky Prices and Wages Fit Postwar U.S. Data?

Julien Matheron and Céline Poilly

147: La désaisonnalisation des séries d agrégats mon taires et de Crédit à la Banque de France: aspects Théoriques et mise en oeuvre

Elisabeth Fonteny

146: Estimating Potential Output with a Production Function for France, Germany and Italy

Mustapha Baghli, Christophe Cahn and Jean-Pierre Villetelle

145: Assessing Aggregate Comovements in France, Germany and Italy. Using a Non Stationary Factor Model of the Euro Area

Olivier de Bandt, Catherine Bruno and Alexis Flageollet

144: Are Business and Credit Cycles Converging or Diverging? A comparison of Poland, Hungary, the Czech Republic and the Euro Area

Sanvi Avouyi-Dovi, Rafał Kierzenkowski and Catherine Lubochinsky

143: Term Structure Anomalies: Term Premium or Peso problem?

Caroline Jardet

142: La fonction de demande de monnaie pour la zone euro: un r examen

Sanvi Avouyi-Dovi, M. Brun, A. Dreyfus, Françoise Drumetz, V. Oung and Jean-Guillaume Sahuc

141: Optimal Monetary Policy in an Estimated DSGE Model of the Euro Area with Cross-country Heterogeneity

Eric Jondeau and Jean-Guillaume Sahuc

140: Is the Inflation-Output Nexus Asymmetric in the Euro Area?

Mustapha Baghli, Christophe Cahn and Henri Fraisse

139: Illiquidity, Financial Development and the Growth-Volatility Relationship Illiquidity, Financial Development and the Growth-Volatility Relationship

Enisse Kharroubi

138: Sticky Prices in the Euro Area: A Summary of New Micro Evidence

L. Lvarez, Emmanuel Dhyne, Marco Hoeberichts, C. Kwapil, Hervé Le Bihan, P. L nnemann, Fernando Martins, Roberto Sabbatini, Harald Stahl, Philip Vermeulen and Jouko Vilmunen

137: Heterogeneity in Consumer Price Stickiness: A Microeconometric Investigation

Denis Fougere, Hervé Le Bihan and Patrick Sevestre

136: Price Setting in the Euro Area: Some Stylized Facts from Individual Consumer Price Data

L. Lvarez, Daniel Dias, Emmanuel Dhyne, Johannes Hoffmann, Nicole Jonker, Hervé Le Bihan, P. L nnemann, Fabio Rumler, Giovanni Veronese and Jouko Vilmunen

135: The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence

Silvia Fabiani, M. Druant, Ignacio Hernando, C. Kwapil, B. Landau, Claire Loupias, Fernando Martins, T. Math , Roberto Sabbatini, Harald Stahl and Alan Stockman

134: The Fed and the Question of Financial Stability: An Empirical Investigation

Thierry Grunspan

133: A comparison of Structural Productivity Levels in the Major Industrialised Countries

Renaud Bourlès and Gilbert Cette

132: L impact des chocs boursiers sur le Crédit en France depuis le milieu des années quatre-vingt-dix

Jhon Baude

131: Excès de liquidité montaire et prix des actifs

Sylvain Gouteron and Daniel Szpiro

130: Opportunity Costs of Having a Child, Financial Constraints and Fertility

Gilbert Cette, Nicolas Dromel and Dominique Méda

129: La Modélisation Macro Econométrique Dynamique

Frédérique Feve

128: Les marchés financiers anticipent-ils les retournements conjoncturels?

Benoit Bellone, Erwan Gautier and Sébastien Le Coent