NEW WORKING PAPER: This paper investigates the role of political tensions between the US and China and global market forces in explaining oil price fluctuations. To this end,…
NEW PUBLICATION: We can use Fourier Dickey-Fuller unit root tests, time-varying fiscal reaction functions and threshold fiscal reactions functions. Over the period spanning from 1870 to 2017, we…
Let me draw your attention to this very pedagogical GAUSS blog on the Kalman filter. It links very well the theory and the code. Please find below the…
NEW PUBLICATION: It was a really nice experience to explore the links between innovation and macroeconomics. We find that R&D intensity is stationary in the G7 countries when…
NEW PUBLICATION: This paper was written last year with my friend Sy-Hoa Ho. We met ten years ago in the University of Paris North during the preparation of…
La loi de la population nous est inconnue, parce qu’on ignore la nature de la fonction qui sert de mesure aux obstacles, tant préventifs que destructifs, qui s’opposent…
The demand for money is likely to depend upon the exchange rate in addition to the interest rate and the level of income; this would slightly reduce the…
Downward wage and price rigidity matters only when overall inflation is very low. Joseph E. Gagnon (2018). As the US unemployment rate continues to drift down to levels…
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