Welcome to my personal page, my name is Jamel Saadaoui. I am a teacher and researcher in social sciences interested in various topics related to international economics. On this page, I present my current and future research projects and I try to provide some information for the public and for my students. I sometimes write on Probability, Philosophy, Economics, and other topics with a macro perspective. I am currently focused on the future of the European Union and more generally on the future of the international monetary system.
I am currently a Senior Lecturer in Economics at the University of Strasbourg, and I am affiliated to the BETA-CNRS for my research activities. I teach Economics and Statistics at the Faculty of Economics and Management, FSEG, of the University of Strasbourg. Besides, I have been an elected member of the National Council of Universities since 2016. I co-organize the Cournot Seminar, the main seminar of the BETA-Strasbourg since 2020. Recently, I have been elected to the board of trustees of the University of Strasbourg. You can reach me at my professional address. You can find more information on my professional resume.
Applied Macroeconomics, Applied Econometrics, European Economics, International Economics.
Scientific social networks profiles
My latest works and projects
- Special Issue:
Guest editor with Amélie Barbier-Gauchard and Samuel Ligonnière of a special issue of the peer-reviewed journal International Economics (https://www.sciencedirect.com/journal/international-economics). The call for papers is available at Elsevier: https://www.journals.elsevier.com/international-economics/call-for-papers/the-european-economy-in-the-time-of-covid-19
The COVID-19 pandemic is unprecedented in recent history, the ensuing economic crisis has plunged the world economy into disarray and put the European economy to the test. Despite the suffering and the loss of many lives, this crisis is an opportunity to rethink certain aspects of the European project. In the emergency, unprecedented measures have been put in place, such as lockdowns, generalized teleworking, government-guaranteed loans to companies, etc. In this historical context, the special issue will aim at investigating the challenges and perspectives related to a number of issues including monetary and budgetary policies, the coordination of health policies, and the most appropriate response to environmental and social issues in order to propose new ideas to strengthen the European project.
Opening submission: February 2021
Submission deadline: March 15, 2022
First decision on submission: June 30, 2022
Special issue publication: December 2022
- Peer-reviewed article:
Sy-Hoa Ho, Jamel Saadaoui. Symmetric and asymmetric effects of exchange rates on money demand: empirical evidence from Vietnam. Applied Economics 53:34, pp. 3948-3961, 2021. Available (upon subscription) at Taylor & Francis: https://www.tandfonline.com/doi/full/10.1080/00036846.2021.1888864
This empirical investigation aims at exploring the determinants of money demand in Vietnam by using both linear and nonlinear autoregressive distributed lags models over the period spanning from the third quarter of 2000 to the first quarter of 2018. Our findings can be summarized as follows: firstly, when the shock is symmetric (i.e. a permanent nominal appreciation of one percent), the money demand increases by 3.7 percent in the long term. Secondly, when the shock is asymmetric, for a permanent nominal appreciation of one percent, we observe an increase of 15.6 percent in the money demand. Whereas, for a permanent nominal depreciation of one percent, we observe a decrease of 7.4 percent in the money demand. These results are consistent with symmetry tests and lead us to think that asymmetries occur mainly in the short run and are transmitted to the long run.
- Peer-reviewed article:
Amélie Barbier-Gauchard, Meixing Dai, Claire Mainguy, Jamel Saadaoui, Moïse Sidiropoulos, Isabelle Terraz, Jamel Trabelsi. Towards a more resilient European Union after the COVID-19 crisis. Eurasian Economic Review 11, pp. 321-348, 2021. Available (without subscription) at Springer: https://link.springer.com/article/10.1007%2Fs40822-021-00167-4
The pandemic crisis constitutes an unprecedented challenge for the European Union and for the Euro Area. Indeed, the European institutional architecture can be viewed as being halfway between an association of sovereign states (like the United Nations) and a politically integrated federation (like the United States). In this original construction, competences on several matters (such as economic, political, social and health issues) are shared at the European level, but also at the national and local levels, in more complex ways than in fully integrated federations. To improve the European Union’s resilience to violent external shocks, the main objective of this paper is to determine to what extent these competences should be transferred to the federal level. In this respect, we will consider whether a federal leap is necessary in several areas, namely (i) monetary and fiscal policy (rules), (ii) labor markets policy and social models, migratory flows and skill shortages, and cooperation policy and (iii) renewed industrial policy and exchange rates. Despite a highly uncertain context, we outline some perspectives for the future of the European Union.
According to the Schumpeterian endogenous growth theory, the efficacy of R&D is lowered by the proliferation of products. To be consistent with empirical data, the ratio between innovative activity and product variety (also called R&D intensity) must be stationary. In this perspective, our contribution investigates whether the R&D intensity series are stationary when structural breaks are considered. Our sample of G7 countries is examined over the period spanning from 1870 to 2016. Our results indicate that traditional unit root tests (ADF, DF-GLS and KPSS) conclude that the R&D intensity series are non-stationary in contradiction with the Schumpeterian endogenous growth theory. The conclusions of these traditional unit root tests may be misleading, as they ignore the presence of structural breaks. Indeed, we use several types of Fourier Dickey-Fuller tests to consider the presence of structural breaks. In the Fourier Dickey-Fuller unit root tests using double frequency and fractional frequency, the R&D intensity is significantly stationary at least at the 5% level for Canada, France, Germany, Italy, Japan and the UK when a deterministic trend is included in the tests. Nevertheless, the R&D intensity is non-stationary for the US, even when we consider structural breaks. Indeed, the integration analyses aimed at discriminating between competing theories of endogenous growth should be careful of the presence of structural breaks. Especially when historical data are used, traditional unit root tests may lead to erroneous economic interpretations. These findings may help to understand the true nature of long-run economic growth and may help to formulate sound policy recommendations.
While it is widely recognized that the development of a sound financial system may contribute to foster economic growth, the relation between economic growth and financial activities is complex. In this perspective, our contribution investigates the existence of threshold effects in the relationship between economic growth and bank credit. Our sample of ASEAN countries is examined over the period spanning from 1993 to 2019. We use the approach of Kremer et al. (2013) to estimate threshold effects in a dynamic panel where a group of explanatory variables can be endogenous. Our results do not confirm the vanishing effect of finance on economic growth. We found a threshold of 96.5% (significant at the 5% level) for the credit-to-GDP ratio, the threshold variable. In the short run, for observations inferior or equal to the threshold, the positive effect of bank credit expansion on economic growth is around 0.08 (significant at the 1% level). Whereas, for observations superior to the threshold, the positive effect of bank credit expansion on economic growth is around 0.02 (significant at the 1% level). The role of exporting firms is essential in ASEAN countries, as they are more export-oriented than other regions in the world economy. Our results may indicate that the beneficiary of the credit (firms versus households), the structural features (export-led growth), and the regional heterogeneity have to be considered in empirical investigations of threshold effects in the relation between economic growth and bank credit. This empirical evidence may help to formulate sound policy recommendations.