Working paper Series


2021-06 Forecasting Financial Markets with Semantic Network Analysis in the COVID—19 Crisis
by Andrea Fronzetti COLLADON, Stefano GRASSI, Francesco RAVAZZOLO and Francesco VIOLANTE

2021-05 Asset Pricing Using Block-Cholesky GARCH and Time-Varying Betas
by Stefano GRASSI and Francesco VIOLANTE

2021-04 Intergenerational Homeownership in France over the 20th Century
by Bertrand GARBINTI and Frédérique SAVIGNAC

2021-03 Are car-free centers detrimental to the periphery? Evidence from the pedestrianization of the Parisian riverbank

2021-02 Tax haven, pollution haven or both ?
by Thierry Madiès, Ornella Tarola and Emmanuelle Taugourdeau

2021-01 Frictional Spatial Equilibrium
by Benoît Schmutz and Modibo Sidibé


2020-32 COVID-19: Reduced forms have gone viral, but what do they tell us?
2020-31 Uncertainty on the Reproduction Ratio in the SIR Model
by Sean ELLIOTT and Christian GOURIEROUX
2020-30 Wealth and Shifting Demand Pressures on the Price Level in England After the Black Death
by Anthony EDO and Jacques MELITZ
2020-29 The Robustness of Incomplete Penal Codes in Repeated Interactions
by Olivier Gossner
2020-28 A Simple Unit Root Test Consistent against any Stationary Alternative
by Frédéric Bec and Alain Guay
2020-27 How Age at Entry at School Affects Future Educational and Socio-emotional Outcomes: Evidence From PISA
by Pauline Givord
2020-26 Economic Adjustment during the Great Recession: The Role of Managerial Quality
by Gilbert Cette, Jimmy Lopez, Jacques Mairesse and Giuseppe Nicoletti
2020-25 Does Gender Matter for Promotion in Science? Evidence from Physicists in France
by Jacques Mairesse, Michele Pezzoni and Fabiana Visentin
2020-24 Predistribution vs. Redistribution: Evidence from France and the U.S.
by Antoine Bozio, Bertrand Garbinti, Malka Guillot, Jonathan Goupille-Lebret and Thomas Piketty
2020-23 Housing Market Responses to Transfer Taxes: Evidence from a French Reform
by Mathilde Poulhes
2020-22 Ring the Alarm! Electricity Markets, Renewables, and the Pandemic
by David Benatia, Clémence Alasseur and Olivier Féron
2020-21 Conditional asymmetry in ARCH(∞) models
by Julien Royer
2020-20 Subnational borders and individual well-being : Evidence from the merger of French regions
by Lionel Wilner
2020-19 The Value of Information in Zero-Sum Games
by Olivier Gossner and Jean-François Mertens
2020-18 Do Politicians Shape the Electorate ? Evidence from French Municipalities
by Benoît Schmutz and Grégory Verdugo
2020-17 An alternative to synthetic control for models with many covariates under sparsity
by Marianne Bléhaut, Xavier D’Haultfoeuille, Jérémy L’Hour and Alexandre B. Tsybakov
2020-16 Accounting for Intergenerational Wealth Mobility in France over the 20th Century: Method and Estimations
by Bertrand Garbinti and Frédérique Savignac
2020-15 Why are Low-Skilled Workers less Mobile ? The role of Mobility Costs and Spatial Frictions
by Benoît Schmutz, Modibo Sidibé and Élie Vidal-Naquet
2020-14 Fiscal Policy under Secular Stagnation: An Optimal Pump Priming Strategy
by Jean-Baptiste Michau
2020-13 Purchasing Alliances and Product Variety
by Marie-Laure Allain, Rémi Avignon, and Claire Chambolle
2020-12 Reaching New Lows? The Pandemic’s Consequences for Electricity
by David Benatia
2020-11 Time Varying Markov Process with Partially Observed Aggregate Data; An Application to Coronavirus
by Christian Gourieroux and Joann Jasiak
2020-10 Self-Selection Into Strategic Environments
by Guillaume Hollard and Fabien Perez
2020-09 Vertical Integration as a Source of Hold-up: an Experiment
by Marie-Laure Allain, Claire Chambolle, Patrick Rey and Sabrina Teyssier
2020-08 The Demand for Trade Protection over the Business Cycle
by Stéphane Auray, Michel B. Devereux and Aurélien Eyquem
2020-07 Comparative Advantage and Moonlighting
by Stéphane Auray, David L. Fuller and Guillaume Vandenbroucke
2020-06 A Vector Autoregressive Model of Forecast Electricity Consumption in France
by Stéphane Auray and Vincent Caponi
2020-05 Taking off into the Wind: Unemployment Risk and State-Dependent Government Spending Multipliers
by Julien Albertini, Stéphane Auray, Hafedh Bouakez and Aurélien Eyquem
2020-04 Group Testing against COVID-19
by Christian Gollier and Olivier Gossner
2020-03 The Unintended Consequences of Anti-Piracy Laws on Markets with Asymmetric Piracy: The Case of the French Movie Industry
by Christophe Bellego and Romain De Nijs
2020-02 Group Testing against COVID-19
by Olivier Gossner
2020-01 Affine Modeling of Credit Risk, Pricing of Credit Events and Contagion
by Alain Monfort, Fulvio Pegoraro, Jean-Paul Renne, and Guillaume Roussellet


2019-25 Ecological compensation: how much and where?
by Pascal Gastineau and Pascal Mossay and Emmanuelle Taugourdeau
2019-24 Decentralized leadership in a federation with competition for mobile firms: Does economic integration matter?
by Thierry Madiès and Emmanuelle Taugourdeau
2019-23 Multi-tier tax competition on Gasoline
by Marie-Laure Breuillé and Emmanuelle Taugourdeau
2019-22 The Economic Penalty of Terrorism: Increase in Discrimination Against Arabs and Muslims after Paris Attacks
by Sander Wagner and Ivaylo D. Petev
2019-21 Competition on Unobserved Attributes: The Case of the Hospital Industry
by Philippe Choné and Lionel Wilner
2019-20 Does the Provision of Physician Services Respond to Competition?
by Philippe Choné and Elise Coudin and Anne Pla
2019-19 Strategic Reneging in Sequential Imperfect Markets
by David Benatia and Etienne Billette de Villemeur
2019-18 The Dynamics of Individual Happiness
by Lionel Wilner
2019-17 Child Penalties and Financial Incentives: Exploiting Variation along the Wage distribution
by Pierre Pora and Lionel Wilner
2019-16 Inattention and the Taxation Bias
by Jérémy Boccanfuso and Antoine Ferey
2019-15 Distinguishing Incentive from Selection Effects in Auction-Determined Contracts
by Laurent Lamy and Manasa Patnam and Michael Visser
2019-14 The Primary Cause of European Inflation in 1500-1700: Precious Metals or Population? The English Evidence
by Anthony Edo and Jacques Melitz
2019-13 Dealing with the log of zero in regression models
by Christophe Bellego and Louis-Daniel Pape
2019-12 The Preference for Net Wealth
by Jean-Baptiste Michau
2019-11 Temporal disaggregation of short time series with structural breaks: Estimating quarterly data from yearly emerging economies data
by Jérôme Trinh
2019-10 Helicopter Drops of Money under Secular Stagnation
by Jean-Baptiste Michau
2019-09 Mixed Causal-Noncausal Autoregressions: Bimodality Issues in Estimation and Unit Root Testing
by Frédérique Bec, Heino Bohn Nielsen and Sarra Saïdi
2019-08 Does It Pay to Fight Crime? Evidence From the Pacification of Slums in Rio de Janeiro
by Christophe Bellégo and Joeffrey Drouard
2019-07 On the construction of confidence intervals for ratios of expectations
by Alexis Derumigny, Lucas Girard and Yannick Guyonvarch
2019-06 Les déterminants de la mobilisation des “gilets jaunes”
by Pierre C. Boyer, Thomas Delemotte, Germain Gauthier, Vincent Rollet and Benoît Schmut
2019-05 Emportés par la foule Pourquoi l’estimation de 250 000 micro-travailleurs en France est exagérée
by Pauline Barraud de Lagerie, Julien Gros and Luc Sigalo Santos
2019-04 When are Google data useful to nowcast GDP? An approach via pre-selection and shrinkage
by Laurent Ferrara and Anna Simoni
2019-03 A Decomposition of Labor Earnings Growth: Recovering Gaussianity?
by Pierre Pora and Lionel Wilner
2019-02 Noncausal Affine Processes with Applications to Derivative Pricing
by Christian Gouriéroux and Yang Lu
2019-01 The finite sample properties of Sparse M-estimators with Pseudo-Observations
by Benjamin Poignard and Jean-David Fermanian


2018-18 Experience Rating, and Unemployment Insurance Take-up
by Stéphane Auray and David L. Fuller
2018-17 Robots in a Small Open Economy
by Stéphane Auray and Aurélien Eyquem
2018-16 The Task Content of Occupations
by Luca Bittarello, Francis Kramarz and Alexis Maitre
2018-15 Majority Judgment vs. Approval Voting
by Michel Balinski and Rida Laraki
2018-14 Unemployment Insurance Take-up Rates in an Equilibrium Search Model
by Stéphane Auray, David L. Fuller and Damba Lkhagvasuren
2018-13 Doubly Robust GMM Inference and Differentiated Products Demand Models
by Stéphane Auray, Nicolas Lepage-Saucier and Purevdorj Tuvaandorj
2018-12 Asset-liability management in life insurance: Evidence from France
by Victor Lyonnet
2018-11 Somatic Distance, Trust and Trade
by Jacques Melitz and Farid Toubal
2018-10 Réponse à des Critiques du Jugement Majoritaire
by Michel Balinski
2018-09 Family, Firms and the Gender Wage Gap in France
by Elise Coudin, Sophie Maillard and Maxime Tô
2018-08 Consistent Pseudo-Maximum Likelihood Estimators and Groups of Transformations
by Christian Gouriéroux, Alain Monfort, and Jean-Michel Zakoian
2018-07 Selective matching: gender gap and network formation in research
by Stéphanie Combes and Pauline Givord
2018-06 Jean-Michel Grandmont A forthcoming mind
by Laurent Linnemer and Michael Visser
2018-05 Somatic Distance, Cultural Affinities, Trust And Trade
by Jacques Melitz and Farid Toubal
2018-04 Testing the universalism of Bourdieu’s homology: Structuring patterns of lifestyle across 26 countries
by Modesto Gayo, Dominique Joye, & Yannick Lemel
2018-03 Negative Binomial Autoregressive Process
by Christian Gouriéroux & Yang Luy
2018-02 Fiscal Rules as Bargaining Chips
by Facundo Piguillem & Alessandro Riboni
2018-01 About Kendall’s regression
by Alexis Derumigny & Jean-David Fermanian


2017-92 Homogeneous Besov and Triebel–Lizorkin spaces associated tonon-negative self-adjoint operators
by Athanasios G. Georgiadis & Gérard Kerkyacharian, & Georges Kyriazis & Pencho Petrushev
2017-91 Hardy spaces associated with non-negative self-adjoint operators
by Shia Dekel & Gérard Kerkyacharian, & Georges Kyriazis & Pencho Petrushev
2017-90 Regularity of Gaussian Processes on Dirichlet spaces
by Gérard Kerkyacharian, & Shigeyoshi Ogawa & Pencho Petrushev & Dominique Picard
2017-89 Insurance Between Firms: The Role of Internal Labor Markets
by Giacinta Cestone & Chiara Fumagalli & Francis Kramarz & Giovanni Pica
2017-88 Probabilistic forecasting of the wind energy resource at the monthly to seasonal scale
by Bastien Alonzo & Philippe Drobinski & Riwal Plougonven & Peter Tankov
2017-87 Optimal management of a wind power plant with storage capacity
by Jérôme Collet & Olivier Féron & Peter Tankov
2017-85 Log-PCA versus Geodesic PCA of histograms in the Wasserstein space
by Elsa Cazelles & Vivien Seguy & Jérémie Bigot & Marco Cuturi & Nicolas Papadakis
2017-84 Wasserstein Dictionary Learning: Optimal Transport-based unsupervised non-linear dictionary learning
by Morgan A. Schmitz & Matthieu Heitz & Nicolas Bonneel & Fred Ngolè & David Coeurjolly
2017-83 Learning Generative Models with Sinkhorn Divergences
by Aude Geneway & Gabriel Peyré & Marco Cuturi
2017-82 Sliced Wasserstein Kernel for Persistence Diagrams
by Mathieu Carrière & Marco Cuturi & Steve Oudot
2017-81 Soft-DTW: a Differentiable Loss Function for Time-Series
by Marco Cuturi & Mathieu Blondel
2017-80 Nation-Building, Nationalism, and Wars
by Alberto Alesina & Bryony Reich & Alessandro Riboni
2017-79 Measuring individual risk-attitudes: an experimental comparison between Holt & Laury measure and an insurance-choices-based procedure
by Anne Corcos & François Pannequin & Claude Montmarquette,
2017-78 Compulsory insurance and voluntary self-insurance: substitutes or complements? A matter of risk attitudes
by François Pannequin & Anne Corcos
2017-77 Shapes of implied volatility with positive mass at zero
by Stefano De Marco & Caroline Hillairet & Antoine Jacquier
2017-76 Trading against disorderly liquidation of a large position under asymmetric information and market impact
by Caroline HILLAIRET & Cody HYNDMAN & Ying JIAO & Renjie WANG
2017-75 Pricing formulae for derivatives in insurance using the Malliavin calculus
by Caroline Hillairet & Ying Jiao
2017-74 Consistent Utility of Investment and Consumption : a forward/backward SPDE viewpoint
by Nicole El Karoui & Caroline Hillairet & Mohamed Mrad
2017-73 Decentralized leadership in a federation and competition for mobile firms: Does economic integration matter?
by Thierry Madiès & Emmanuelle Taugourdeau
2017-72 Nonparametric imputation by data depth
by Pavlo Mozharovskyi & Julie Josse & François Husson
2017-71 Fast computation of Tukey trimmed regions and median in dimension p > 2
by Xiaohui Liu & Karl Mosler & Pavlo Mozharovskyi
2017-70 Linear wavelet estimation of the derivatives of a regression function based on biased data
by Yogendra P. Chaubey & Christophe Chesneau & Fabien Navarro
2017-69 A note on the adaptive estimation of the differential entropy by wavelet methods
by Christophe Chesneau & Fabien Navarro & Oana Silvia Serea
2017-68 On the pointwise mean squared error of a multidimensional term-by-term thresholding wavelet estimator
by Christophe Chesneau & Fabien Navarro
2017-67 Slope heuristics and V-Fold model selection in heteroscedastic regression using strongly localized bases
by Fabien Navarro & Adrien Saumard
2017-66 Parametric estimation of hidden Markov models by least squares type estimation and deconvolution
by Christophe Chesneau & Salima El Kolei & Fabien Navarro
2017-65 Efficiency of the V-fold model selection for localized bases
by Fabien Navarro & Adrien Saumard
2017-64 Heterogeneity, Convergence and Imbalances in the Euro Area
by Stephane Auray & Aurelien Eyquem
2017-63 Unemployment, Borrowing Constraints and Stabilization Policies
by Auray Stéphane & Eyquem Aurélien
2017-62 Ramsey-optimal Tax Reforms and Real Exchange Rate Dynamics
by Auray Stéphane & Eyquem Aurélien & Gomme Paul
2017-61 Debt Hangover in the Aftermath of the Great Recession
by Auray Stéphane & Eyquem Aurélien & Gomme Paul
2017-60 Banks, Sovereign Risk and Unconventional Monetary Policies
by Auray Stéphane & Eyquem Aurélien & Mairesse Xiaofei
2017-59 Dynamic Comparative Advantage, Directed Mobility Across Sectors, and Wages
by Auray Stéphane & Fuller David & Lkhagvasuren Damba & Terracol Antoine
2017-58 Unemployment Insurance Take-up Rates in an Equilibrium Search Model
by Auray Stéphane & Fuller David & Lkhagvasuren Damba
2017-57 Employment protection legislation impacts on capital and skill composition
by Cette Gilbert & Lopez Jimmy & Mairesse Jacques
2017-56 A general model of price competition with soft capacity constraints
by Cabon-Dhersin Marie-Laure & Drouhin Nicolas
2017-55 Financing innovative green projects with asymmetric information and costly public funds
by Meunier Guy & Ponssard Jean-Pierre
2017-54 Uninsured Unemployment Risk and Optimal Monetary Policy
by Edouard Challe
2017-53 Improved bounds for Square-Root Lasso and Square-Root Slope
by Alexis Derumigny
2017-52 Preferences under ignorance
by Olivier Gossner & Christoph Kuzmics
2017-51 A normalized value for information purchases
by Antonio Cabrales & Olivier Gossner & Roberto Serrano
2017-50 Optimal Illusion of Control and Related Perception Biases
by Olivier Gossner & Jakub Steiner
2017-49 An instrumental approach to the value of information
by Michel De Lara & Olivier Gossner
2017-48 Frictional Labor Mobility
by Benoît Schmutz & Modibo Sidibé
2017-47 Are Inclusionary Housing Programs Color-blind? The Case of Montgomery County MPDU Program
by Adji Fatou Diagne & Haydar Kurban & Benoît Schmutz
2017-46 The Interconnections Between Services and Goods Trade at the Firm-Level
by Andrea Ariu & Holger Breinlich & Gregory Corcos & Giordano Mion
2017-45 Platform Price Parity Clauses with Direct Sales
by BjØrn Olav Johansen & Thibaud Vergé
2017-44 Secret contracting in multilateral relations
by Patrick Rey & Thibaud Vergé
2017-43 Structured Matrix Estimation and Completion
by Olga Klopp & Yu Lu & Alexandre B. Tsybakov & Harrison H. Zhou
2017-42 Optimal graphon estimation in cut distance
by Olga Klopp & Nicolas Verzelen
2017-41 Constructing confidence sets for the matrix completion problem
by Alexandra Carpentier & Olga Klopp & Matthias Löffler
2017-40 Informed Sub-Sampling MCMC: Approximate Bayesian Inference for Large Datasets
by Florian Maire & Nial Friel & Pierre ALQUIER
2017-39 Concentration of tempered posteriors and of their variational approximations
by Pierre Alquier & James Ridgway
2017-38 Simultaneous Dimension Reduction and Clustering via the NMF-EM Algorithm
by Léna CAREL & Pierre ALQUIER
2017-37 Improving approximate Bayesian computation via quasi Monte Carlo
by Alexander Buchholz & Nicolas CHOPIN
2017-36 Negative association, ordering and convergence of resampling methods
by Mathieu GERBER & Nicolas CHOPIN & Nick WHITELEY
2017-35 Sequential quasi-Monte Carlo: Introduction for Non-Experts, Dimension Reduction, Application to Partly Observed Diffusion Processes
by Nicolas Chopin & Mathieu Gerber
2017-34 Modelling dependency completion in sentence comprehension as a Bayesian hierarchical mixture process: A case study involving Chinese relative clauses
by Shravan Vasishth & Nicolas Chopin & Robin Ryder & Bruno Nicenboim
2017-33 Bayesian Hierarchical Finite Mixture Models of Reading Times: A Case Study
by Shravan Vasishth & Bruno Nicenboim & Nicolas Chopin & Robin Ryder
2017-32 Robust machine learning by median-of-means : theory and practice
by Guillaume Lecué & Mathieu Lerasle
2017-31 An IHT algorithm for sparse recovery from subexponential measurements
by Simon Foucart & Guillaume Lecué
2017-30 Estimation bounds and sharp oracle inequalities of regularized procedures with Lipschitz loss functions
by Pierre Alquier & Vincent Cottet & Guillaume Lecué
2017-29 Towards the study of least squares estimators with convex penalty
by Pierre.C Bellec & Guillaume Lecué & Alexandre.B Tsybakov
2017-28 Learning from MOM’s principles : Le Cam’s approach
by Guillaume Lecué & Mathieu Lerasle
2017-27 Local Asymptotic Equivalence of Pure States Ensembles and Quantum Gaussian White Noise
by Cristina Butucea & Madalin Guta & Michael Nussbaum
2017-26 Pivotal Estimation Via Self-Normalization for High-Dimensional Linear Models with Errors in Variables
by Alexandre Belloni & Victor Chernozhukov & Abhishek Kaul & Mathieu Rosenbaum & Alexandre B. Tsybakov
2017-25 Sparse covariance matrix estimation in high-dimensional deconvolution
by Denis Belomestny & Mathias Trabs & Alexandre Tsybakov
2017-24 Stuctured Matrix Estimation and Completion
by Olga Klopp & Yu Lu & Alexandre Tsybakov & Harrison H. Zhou
2017-23 Towards the study of least squares Estimators with convex penalty
by Pierre C. Bellec & Guillaume Lecué & Alexandre Tsybakov
2017-22 Optimal Kullback-Leibler Aggregation in Mixture Estimation by Maximum Likelihood
by Arnak Dalalyan & Mehdi Sebbar
2017-21 Further and stronger analogy between sampling and optimization: Langevin Monte Carlo and gradient descent
by Arnak Dalalyan
2017-20 User-friendly guarantees for the Langevin Monte Carlo with inaccurate gradient
by Arnak Dalalyan & Avetik Karagulyan
2017-19 Estimating linear functionals of a sparse family of Poisson means Price Discrimination
by Olivier Collier & Arnak Dalalyan
2017-18 Automobile Prices in Market Equilibrium with Unobserved Price Discrimination
by Xavier D’Haultfoeuille & Isis Durrmeyer & Philippe Février
2017-17 Why are inflation forecasts sticky?
by Frédérique Bec & Raouf Boucekkine & Caroline Jardet
2017-16 Some doubts about the economic analysis of the flow of silver to China in 1550-1820
by Jacques Melitz
2017-15 An Equilibrium Model of the Market for Bitcoin Mining
by Julien Prat & Walter Benjamin
2017-14 Fiscal federalism in a monetary union: the cooperation pitfall
by Hubert Kempf
2017-13 From Latin Quarter to Montmartre Investigating Parisian Real-Estate Prices
by Mathilde Poulhes
2017-12 Countercyclical Endogenous Uncertainty Shocks, Efficiency Wages and Procyclical Precautionary Labor Productivity
by Jean-Michel Grandmont
2017-11 Behavioral Heterogeneity : Pareto Distributions of Homothetic Preference Scales and Aggregate Expenditures Income Elasticities
by Jean-Michel Grandmont
2017-10 Consistent Pseudo-Maximum Likelihood Estimators
by Christian Gouriéroux & Alain Monfort & Eric Renault
2017-09 Statistical Inference for Independent Component Analysis: Application to Structural VAR Models
by Christian Gouriéroux & Alain Monfort & Jean-Paul Renne
2017-08 Identification and Estimation in Non-Fundamental Structural VARMA Models
by Christian Gouriéroux & Alain Monfort & Jean-Paul Renne
2017-07 Composite Indirect Inference with Application
by Christian Gouriéroux & Alain Monfort
2017-06 Regulatory arbitrage and the e ciency of banking regulation
by Pierre C. Boyer & Hubert Kempf
2017-05 Intégration européenne et politiques du marché du travail : Quel consensus entre parlementaires français et allemands ?
by Sebastien Blesse & Pierre C. Boyer & Friedrich Heinemann & Eckhard Janeba & Anasuya Raj
2017-04 The Evolution of Within- and Cross-Country Differences in the Transition to Adulthood: A New Perspective
by Sander Wagner & Olivier Thévenon
2017-03 Children of the Reunification: Gendered Effects on Intergenerational Mobility in Germany
by Sander Wagner
2017-02 About tests of the “simplifying” assumption for conditional copulas
by Alexis Derumigny & Jean-David Fermanian
2017-01 Pegging the Interest Rate on Bank Reserves
by Diba Behzad & Olivier Loisel