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La gestion des réserves de change et ses conséquences pour les marchés.
LAGERBLOM, A.; LEVY-RUEFF, G. - In: Bulletin de la Banque de France (2006) 148, pp. 39-50
Les réserves de change se sont accrues de façon spectaculaire, principalement dans les pays asiatiques. Les modalités de gestion de ces réserves par les banques centrales pourraient avoir un impact sur les marchés financiers.
Persistent link: https://www.econbiz.de/10009251284
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Heterogeneous Fundamentalists and Imitative Processes
Naimzada, Ahmad; Ricchiuti, Giorgio - Dipartimento di Economia, Metodi Quantitativi e … - 2006
Developing a model with a switching mechanism, we show how complex dynamics can be generated even though heterogeneity arises among agents with the same trading rules (fundamentalists). We assume that there are two experts which are imitated by other operators. We show that (i) market...
Persistent link: https://www.econbiz.de/10005685709
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Who are the value and growth investors?
Betermier, Sebastien; Calvet, Laurent E.; Sodini, Paolo - 2014
This paper investigates value and growth investing in a large administrative panel of Swedish residents. We show that over the life-cycle, households progressively shift from growth to value as they become older and their balance sheets improve. Furthermore, investors with high human capital and...
Persistent link: https://www.econbiz.de/10010499712
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The capacity of trading strategies
Landier, Augustin; Simon, Guillaume; Thesmar, David - 2015
Due to non-linear transaction costs, the fi nancial performance of a trading strategy decreaseswith portfolio size. Using a dynamic trading model a la Garleanu and Pedersen (2013), wederive closed-form formulas for the performance-to-scale frontier reached by competitive tradersendowed with a...
Persistent link: https://www.econbiz.de/10011327200
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The price of wine
Dimson, Elroy; Rousseau, Peter L.; Spaenjers, Christophe - 2013
Using historical price records for Bordeaux Premiers Crus, we examine the impact of aging on wine prices and the long-term investment performance of fine wine. In line with the predictions of an illustrative model, young maturing wines from high-quality vintages provide the highest financial...
Persistent link: https://www.econbiz.de/10010389014
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Indicateurs Environnementaux : Caractéristiques D’une Mesure Agrégée Pertinente (Environmental Indicators: Conditions for a Relevant Aggregated Measure)
Peladan, Jean-Guillaume - 2020
French Abstract: Après avoir présenté les grands indicateurs environnementaux existants et leurs limites, nous proposons une définition des caractéristiques d'un indicateur pertinent et efficace dans une approche holistique : embrassant l'ensemble des enjeux environnementaux, analysant le...
Persistent link: https://www.econbiz.de/10012830930
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Analyse comparative des modèles financiers appliqués à la BRVM : cas de la famille du MEDAF et de Fama-French (Comparative Analysis of Financial Models Applied to the BRVM: The Cas...
Abdoulaziz, Alhassane - 2021
French abstract: Dans le présent papier, nous essayons d’étudier les actions de la bourse régionale de valeur mobilière (BRVM) tout en mettant en relief le modèle de Fama-French et les dérivés du modèle d’évaluation des actifs financiers (MEDAF). Les résultats montrent que le...
Persistent link: https://www.econbiz.de/10013218700
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Finance and Industrial Dynamics (In French)
DUPUY, Claude; MONTALBAN, Matthieu; MOURA, Sylvain - Groupe de Recherche en Économie Théorique et … - 2009
The transformations of the finance sector linked to the emergence of new actors (pension funds, mutual funds, hedge … companies. The theme of the influence between finance and industry is not new in the economic literature. The first thesis of … the influence of finance on industry born in the United States (with the Veblen thesis) and Europe (Hilferding, 1910) with …
Persistent link: https://www.econbiz.de/10008549975
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Finances publiques et richesses privées dans le discours Athénien aux Ve et IVe siècles
Vannier, François - 1988
Persistent link: https://www.econbiz.de/10000784271
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A Nonparametric Copula Based Test for Conditional Independence with Applications to Granger Causality
Bouezmarni, Taoufik; Rombouts, Jeroen; Taamouti, Abderrahim - Centre Interuniversitaire de Recherche en Analyse des … - 2009
This paper proposes a new nonparametric test for conditional independence, which is based on the comparison of Bernstein copula densities using the Hellinger distance. The test is easy to implement because it does not involve a weighting function in the test statistic, and it can be applied in...
Persistent link: https://www.econbiz.de/10005101068