This paper analyses in what extent innovation contributes to the productivity premium of exporters. We start by performing non parametric tests on TFP distributions on different groups of firms characterized by their export and innovation behavior. We show that the TFP distributions of exporters...

This paper addresses the issue of a coordinated adjustment plan (“new Plaza") to close global imbalances. We show that the complexity of the network of bilateral trade imbalances has increased, revealing that any plan focusing on industrialised countries only is likely to be ineffective. By...

This paper investigates economic performance and policies in OECD countries. Our hypothesis is that the effects of policy are determined by country-size. We employ non parametric distribution dynamics techniques (e.g. Quah, 1993) and we analyze differences across and within groups of countries...

L’expérimentation du revenu de solidarité active conduite dans 34 départements volontaires sur une période allant de novembre 2007 à juin 2009 est sans doute la plus importante expérimentation sociale menée jusqu’à ce jour en France. Le RSA tel qu’il a été généralisé poursuit...

This paper analyzes the determinants of cross-border asset trade on cross-country data and a Swedish data set. We focus our analysis on the impact of the euro for the determinants of trade in bonds, equity and banking assets. With the help of a theoretical model, we disentangle the different...

Investigations of the effect of quality differences on heterogeneous performance in exporting have been limited by lack of direct measures of quality. We examine exports of French wine, matching the exporting firms to producer ratings from two wine guides. We show that high quality producers...

This paper analyzes the reaction of exporters to exchange rate changes. We present a model where, in the presence of distribution costs in the export market, high and low productivity firms react differently to a depreciation. Whereas high productivity firms optimally raise their markup rather...

In situations where a biased sender provides verifiable information to a receiver, I study how strategic reporting affects the incentives to search for information. Research provides series of signals that can be used selectively in reporting. I show that the sender is strictly worse off when...

This year the G's are meeting at a critical moment in history, at least economic and social history. They will confront the gravest economic and social crisis in almost 80 years. To paraphrase Keynes, the destiny of the world is in the hands of the members of the G's. They could act in such a...

In this paper, we explore three scenarios for the future of the European Union, using history and reasoned imagination as guides. Our three scenarios are rooted in European contemporary challenges but draw on three ages that have shaped what Europe has become. Scenario 1 harks back to Antiquity...