Publications associées à Masse monétaire

Monetary Independence And Rollover Crises

This article shows that the inability to use monetary policy for macroeconomic stabilization leaves a government more vulnerable to a rollover crisis. We study a sovereign default model with self-fulfilling rollover crises, foreign currency debt, and nomin ...

OXFORD UNIV PRESS INC2022

Where is the money ? A decomposition of monetary flows behind fossil fuels

François Maréchal, Jonas Schnidrig, Xiang Li, Raphaël Briguet

Transition from fossils to renewables is leading to radical societal changes. Shifting the capital from fossils to renewables is commonly accompanied with political concerns, such as energy autonomy, domestic employment etc. Despite a decreasing trend in r ...

DTU Construct2022

Asset Pricing and Monetary Policy

Nicolas Gauderon

Classical theory asserts that the formation of prices is the result of aggregated decisions of economics agent such as households or corporation. However central banks are very important agents that have often been neglected in asset pricing models. Centra ...

EPFL2022

Monopsony with nominal rigidities: An inverted Phillips Curve

Charles Cosme Henri Dennery

With nominal wage rigidities, it is crucial to distinguish whether wages are set by workers or firms — whether we have monopoly or monopsony power. This paper provides a model of monopsony power in the labour market and a monopsonistic Phillips Curve. If w ...

2020

Excitonic channels from bio-inspired templated supramolecular assembly of J-aggregate nanowirest

Frank Nüesch, Jakob Heier, Surendra Babu Anantharaman

Supramolecular assemblies with controlled morphology are of paramount importance for energy transport in organic semiconductors. Despite considerable freedom in molecular design, the preparation of dyes that form one dimensional J-aggregates is challenging ...

2019

Credit Supply and the Macroeconomy : An Empirical Analysis of Capital Regulation, Bank Lending, and Firm Behavior

Abhik Mukherjee

The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...

EPFL2016

Pervasive Data Analytics for Sustainable Energy Systems

Tri Kurniawan Wijaya

With an ever growing population, global energy demand is predicted to keep increasing. Furthermore, the integration of renewable energy sources into the electricity grid (to reduce carbon emission and humanity's dependency on fossil fuels), complicates eff ...

EPFL2015

When Bias Matters: An Economic Assessment of Demand Response Baselines for Residential Customers

Karl Aberer, Tri Kurniawan Wijaya, Matteo Vasirani

Demand response (DR) has been known to play an important role in the electricity sector to balance supply and demand. To this end, the DR baseline is a key factor in a successful DR program since it influences the incentive allocation mechanism and custome ...

Ieee-Inst Electrical Electronics Engineers Inc2014

Integrated supply-demand models for the optimization of flexible transportation systems

Bilge Atasoy

This thesis investigates methodologies for improving the demand responsiveness of transportation systems through flexibility. The methodologies propose advances both in demand and supply models having a focus on supply-demand interactions. The demand side ...

EPFL2013

Expectation-Driven Cycles in the Housing Market: Evidence from Survey Data

Luisa Lambertini

Using a vector-autoregression (VAR) model and data from the University of Michigan Survey of Consumers, we provide evidence on the importance of news and consumers' beliefs for housing-market dynamics and aggregate fluctuations. We document that innovation ...

2013

Integrated schedule planning with supply-demand interactions for a new generation of aircrafts

Michel Bierlaire, Matteo Salani, Bilge Atasoy

We present an integrated schedule planning model where the décisions of schedule design, fleeting and pricing are made simultaneously. Pricing is integrated through a logit demand model where itinerary choice is modeled by defining the utilities of the alt ...

2012

The impact of fiscal-monetary policy interactions on government size and macroeconomic performance

Vincenzo Cuciniello

This paper analyzes the relationship between inflation, output and government size by reexamining the time inconsistency of optimal monetary and fiscal policies in a general equilibrium model with staggered timing structure for the acquisition of nominal m ...

2009

The effect of liberalisation on incumbent's innovation : the case of the postal sector

Cátia Alexandra Pereira Felisberto

The network industries have been undergoing a process of reform, where liberalisation is one of the main features. This thesis studies the effect of liberalisation, with and without competition, on the incumbent's incentives to innovate. A model of incumbe ...

EPFL2008

Generation Capacity Investments in Competitive Electricity Markets: A Preliminary Assessment after 10 years of Liberalization in Europe

Matthias Finger, Bastian Wolfgang Schwark

Balancing supply and demand in energy markets is not an easy task. Competitive markets oblige private actors to justify their investments towards their shareholders by appropriate rates of return. Consequently, electricity markets may lead to under-investm ...

2007