Florian Pelgrin

Business cycles fluctuations in three-sector intertemporal equilibrium models

Kazuo Nishimura, Florian Pelgrin, Alain Venditti

This paper introduces a novel mechanism driving endogenous business cycle fluctuations within a frictionless three-sector intertemporal equilibrium model. We emphasize the critical role of consumer preferences as a primary driver of cyclical dynamics by considering a consumption bundle composed of a pure …

jp, fr (code pays fourni par la source)

Structural VAR models in the Frequency Domain

Alain Guay, Florian Pelgrin

ca, fr (code pays fourni par la source)

Soccer labour market equilibrium and efficient training of players

Marnix Amand, Arnaud Chéron, Florian Pelgrin, Anthony Terriau

us, fr (code pays fourni par la source)

Medium term endogenous fluctuations in three-sector optimal growth models

Kazuo Nishimura, Florian Pelgrin, Alain Venditti

Following the recent contribution of Beaudry et al. [8], we exploit a three-sector optimal growth model without frictions to provide new insights regarding the emergence of endogenous medium-term fluctuations. Notably, our 3-sector model shows that matching the empirical evidence critically depends on …

jp, fr (code pays fourni par la source)

On the long-run fluctuations of inheritance in two-sector OLG models

Florian Pelgrin, Alain Venditti

fr (code pays fourni par la source)

Valuing Life as an Asset, as a Statistic and at Gunpoint

Julien N. Hugonnier, Florian Pelgrin, Pascal St‐Amour

Abstract Rationalising the stark differences between the human capital and the statistical values of a human life is complicated by the absence of common foundations. We solve a human capital investment model with longevity risk to characterise the human capital. The associated …

ch, ca, fr (code pays fourni par la source)

The Implications of Transmission and Information Lags for the Stabilization Bias and Optimal Delegation

Jean‐Paul Lam, Florian Pelgrin

In two recent papers, Jensen (2002) and Walsh (2003), using a hybrid New Keynesian model, demonstrate that a regime that targets either nominal income growth or the change in the output gap can effectively replicate the outcome under commitment and hence reduce …

ca (code pays fourni par la source)

The U.S. New Keynesian Phillips Curve: An Empirical Assessment

Alain Guay, Florian Pelgrin

The authors examine the evidence presented by Galí and Gertler (1999) and Galí, Gertler, and Lopez-Salido (2001, 2003) that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC). The authors address several important econometrics …

ca (code pays fourni par la source)

Translog ou Cobb-Douglas? Le rôle des durées d'utilisation des facteurs

Eric J. Heyer, Florian Pelgrin, Arnaud Sylvain

Using French data on industrial firms over the period 1989-2001, the authors estimate a "flexible" Translog production function that accounts for the volumes and durations of factor utilization. They draw on the framework proposed by Blundell and Bond (2000), assuming that serially …

Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy

Michel Juillard, Florian Pelgrin

Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution. However, …

fr (code pays fourni par la source)

Contraintes de liquidité et capital humain dans une petite économie ouverte

Florian Pelgrin

In an overlapping-generations model that represents a small open economy, where agents live two periods, liquidity constraints lead to low economic development when the only accumulable factor is human capital. In the context of multiple equilibria, an underdevelopment trap can result in …

National Saving–Investment Dynamics and International Capital Mobility

Florian Pelgrin, Sebastian Schich

The authors analyze the dynamics of national saving–investment relationships to determine the degree of international capital mobility. Following Coakley and Kulasi (1997), the authors interpret the close relationship between national saving and investment in the long run as reflecting a solvency constraint, …