Monetary policy without interest rates: Evidence from France (1948 to 1973) using a narrative approach

Eric Monnet, 5 July 2014

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Recent central bank interventions following the Global Crisis have raised new interest in quantitative measures as instruments of monetary or macroprudential policy (Borio 2011, Galati and Moessner 2013).

Topics: Europe's nations and regions, Monetary policy
Tags: credit controls, France, monetary policy

Can history leave towns struck in places with bad locational fundamentals?

Guy Michaels, Ferdinand Rauch, 8 December 2013

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The world is urbanising rapidly (World Urbanization Prospects, the 2011 Revision). Some of its rapidly growing cities, however, seem to be misplaced. They are located in places hampered by poor access to world markets, shortages of water, or vulnerability to flooding, earthquakes, and volcanoes.

Topics: Development, Economic history, Frontiers of economic research
Tags: city locations, England, France, Roman Empire

High-end variety exporters defying distance: Macro implications

Julien Martin, Florian Mayneris, 4 December 2013

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Vox columns by Peter Schott (2007) and Fontagné et al. (2008) have argued that developed countries specialise in the production of high-end varieties – expensive varieties of a product which have specific attributes such as reputation, branding, or quality that make them appealing to consumers in spite of their higher price.

Topics: International trade
Tags: exports, France, luxury goods, trade

Exports and property prices: Are they connected?

Balázs Égert, Rafał Kierzenkowski, 2 October 2013

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A marked decline in France’s export-market shares

Topics: Europe's nations and regions, International trade
Tags: exports, France, housing, real estate

Accounting for the ethnic unemployment gap in France and the US

Laurent Gobillon, Peter Rupert, Étienne Wasmer, 23 July 2013

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The unemployment rate in France is roughly six percentage points higher for African immigrants than for natives. In the US, the unemployment rate is approximately nine percentage points higher for black people than for white people.

Topics: Europe's nations and regions, Labour markets
Tags: commuting, ethnicity, France, race, unemployment

Do large departments make academics more productive? Agglomeration and peer effects in research

Clément Bosquet, Pierre-Philippe Combes, 21 June 2013

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Every academic has an opinion about what makes a good department. Surprisingly, there are few hard studies quantifying this precisely, although possible implications for an optimal design of education and research policies are numerous. Aghion et al. (2010) is an example of the general recent concern about the optimal design and governance of universities.

Topics: Education, Productivity and Innovation
Tags: agglomeration, France, Peer Effects

Small isn’t always beautiful: The cost of French regulation

Luis Garicano, John Van Reenen, 30 May 2013

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Slow growth in Europe has led to a debate over whether structural reforms can be used to raise productivity (see Costello et al. 2009, Crafts 2012). Many countries have tough labour regulations which may be a barrier to growth.

Topics: Europe's nations and regions, Labour markets
Tags: Eurozone crisis, France, Labour Markets

France’s weak economic performance: Sick of taxation?

Balázs Égert, 10 May 2013

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France is often labelled these days as one of Europe’s problem children (The Daily Telegraph 2013, Handelsblatt 2013). Indeed, France is one of the OECD countries which has recorded the weakest real per capita income growth over the last two decades or so (Figure 1).

Topics: Europe's nations and regions
Tags: Eurozone crisis, France, reform, taxation

Wine tasting: Is 'terroir' a joke and/or are wine experts incompetent?

Orley Ashenfelter, Olivier Gergaud, Victor Ginsburgh, Karl Storchmann, 1 March 2013

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In a paper on terroir, an elusive word coined by French wine growers and traders that means something along the lines of ‘sense of place’, Gergaud and Ginsburgh (2008) show that the differences between natural endowments – region, type of soil and its chemical composition, exposure of vineyards – in the Pauillac, Margaux, Saint-Estèphe, Saint-Julien, and

Topics: Frontiers of economic research
Tags: France, terroir, US, wine

‘No gain without pain’: Antidumping protection hurts exports

Hylke Vandenbussche, Jozef Konings, 30 January 2013

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Protection is often viewed as a powerful instrument to help domestic firms to raise their sales at the expense of foreign importers. But this view is now being challenged by recent research showing that the effects of protection really depend on the international orientation of the firms i.e. whether they are exporters or not.

Topics: International trade
Tags: EU, France, global value chains, protectionism, tariffs, trade

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