References of "Carpantier, Jean-Francois 40080258"
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See detailDissecting the Act of God: An Exploration of the Effect of Religion on Economic Activity
Litina, Anastasia UL; Carpantier, Jean-Francois UL

Scientific Conference (2015, December)

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long ... [more ▼]

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long lasting effect on the religiosity of migrants. Second, exploiting variations in the inherited component of religiosity of migrants, our analysis uncovers the causal effect of religiosity on economic activity using a panel of countries for the period 1935-2000. The empirical findings suggest that i) church attendance has a positive impact on economic outcomes; ii) religious beliefs in the existence of god, hell, heaven and miracles have no systematic effect on economic outcomes, and iii) stronger faith is associated with prosperity. Moreover we extend our analysis to uncover the channels via which religiosity operates. Notably, the positive effect of religious participation and of stronger faith on economic outcomes operates via the creation of social capital and the development of traits, such as hard work and thrift, that are conducive to growth. [less ▲]

Detailed reference viewed: 38 (3 UL)
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See detailEmergence of Sovereign Wealth Funds
Carpantier, Jean-Francois UL; Vermeulen, Wessel UL

E-print/Working paper (2014)

This paper tests the theoretically founded hypothesis that the surge of SWF establishments is determined by three main factors: 1) the existence of natural resources profits, 2) the government structure ... [more ▼]

This paper tests the theoretically founded hypothesis that the surge of SWF establishments is determined by three main factors: 1) the existence of natural resources profits, 2) the government structure and 3) the ability to invest usefully in the domestic economy. We test this hypothesis on a sample of 20 countries that established an SWF in the period 1998-2008 by comparing them to the roughly 100 countries that did not set up a fund in the same period. We find evidence for all three factors. The results suggest that SWFs tend to be established in countries that run an autocratic regime and have difficulties finding suitable opportunities for domestic investments. We do not find the net foreign asset position of a country to be similarly related to the explanatory variables, indicating that the establishment of an SWF is distinct from a national accounting result. We argue that our results indicate that it is relevant to study how an SWF interacts with the domestic economy and government policy. [less ▲]

Detailed reference viewed: 161 (6 UL)
See detailReal Exchange Rates, Commodity Prices and Structural Factors in Developing Countries
Carpantier, Jean-Francois UL; Bodart, Vincent; Candelon, Bertrand

Presentation (2014, October)

Detailed reference viewed: 26 (4 UL)
Peer Reviewed
See detailEmergence of Sovereign Wealth Funds
Carpantier, Jean-Francois UL; Vermeulen, Wessel

Poster (2014, September)

Detailed reference viewed: 74 (4 UL)
See detailReal Exchange Rates, Commodity Prices and Structural Factors in Developing Countries
Carpantier, Jean-Francois UL; Candelon, Bertrand; Bodart, Vincent

Presentation (2014, September)

Detailed reference viewed: 16 (2 UL)
See detailSpecific Markov-switching behaviour for ARMA parameters
Carpantier, Jean-Francois UL; Dufays, Arnaud

E-print/Working paper (2014)

Change-point (CP) and Markov-switching (MS) Auto-regressive models have been intensively discussed over the last two decades due to their flexibility and their relatively simple estimations. Although CP ... [more ▼]

Change-point (CP) and Markov-switching (MS) Auto-regressive models have been intensively discussed over the last two decades due to their flexibility and their relatively simple estimations. Although CP- and MS-ARMA models constitute a natural extension, they have been barely studied. The main reason comes from that classical inference fails when estimating these models. In particular the CP- and MS-ARMA models exhibit path dependence problem that renders the likelihood out of reach. We propose an estimation method that circumvents the issue. Our MCMC algorithm resting on the sticky in.finite hidden Markov-switching model (sticky IHMM) self-determines the number of regimes as well as the specification : CP or MS. Furthermore, the CP and MS frameworks usually assume that all the model parameters vary from one regime to another. We relax this restrictive assumption. As illustrated by simulations realized on moderate samples (300 observations), the sticky IHMM-ARMA algorithm detects which parameters of the model change over regimes. Applications to the U.S. GDP growth and the DJIA realized volatility highlight this flexibility by estimating different structural breaks for the mean and the variance parameters. [less ▲]

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See detailTrade integration and trade imbalances in the European Union: a network perspective
Carpantier, Jean-Francois UL; Delvenne, Jean-Charles; Kriegs, Gautier

in PLoS ONE (2014), 9(1), 83448

We study the ever more integrated and ever more unbalanced trade relationships between European countries. To better capture the complexity of economic networks, we propose two global measures that assess ... [more ▼]

We study the ever more integrated and ever more unbalanced trade relationships between European countries. To better capture the complexity of economic networks, we propose two global measures that assess the trade integration and the trade imbalances of the European countries. These measures are the network (or indirect) counterparts to traditional (or direct) measures such as the trade-to-GDP (Gross Domestic Product) and trade deficit-to-GDP ratios. Our indirect tools account for the European inter-country trade structure and follow (i) a decomposition of the global trade flow into elementary flows that highlight the long-range dependencies between exporting and importing economies and (ii) the commute-time distance for trade integration,which measures the impact of a perturbation in the economy of a country on another country, possibly through intermediate partners by domino effect. Our application addresses the impact of the launch of the Euro. We find that the indirect imbalance measures better identify the countries ultimately bearing deficits and surpluses, by neutralizing the impact of trade transit countries, such as the Netherlands. Among others, we find that ultimate surpluses of Germany are quite concentrated in only three partners. We also show that for some countries, the direct and indirect measures of trade integration diverge, thereby revealing that these countries (e.g. Greece and Portugal) trade to a smaller extent with countries considered as central in the European Union network. [less ▲]

Detailed reference viewed: 48 (0 UL)
See detailReal Exchange Rates and Skills
Carpantier, Jean-Francois UL; Bodart, Vincent

E-print/Working paper (2014)

While most of the literature on the determination of real exchange rates is focused on the role of standard macroeconomic variables, there exists however a few papers that are more concerned by the impact ... [more ▼]

While most of the literature on the determination of real exchange rates is focused on the role of standard macroeconomic variables, there exists however a few papers that are more concerned by the impact of factors which are usually considered to play a key role in the process of economic development, like demography or inequality. In the present paper, we extend this small branch of the literature by exploring the relationship between labor skills and real exchange rates over the long-run. According to several theoretical arguments, the real exchange rate of countries experiencing an increase in the ratio between skilled and unskilled workers should appreciate. That is what we actually find empirically using panel regressions covering 22 countries over the period 1950-2010. The impact of skills on real exchange rates is robust to the inclusion of several control variables, like those used in traditional analyses of real exchange rates. The real exchange rate therefore appears as one channel through which increases in skills can alter economic growth. What we call a "skill disease" effect offers a new partial explanation to the weak link between human capital and GDP growth that is often found by the empirical literature. [less ▲]

Detailed reference viewed: 79 (5 UL)
See detailDissecting the Act of God: An Exploration of the effect of Religion on Economic Activity
Carpantier, Jean-Francois UL; Litina, Anastasia UL

E-print/Working paper (2014)

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long ... [more ▼]

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long lasting effect on the religiosity of migrants. Second, exploiting variations in the inherited component of religiosity of migrants, our analysis uncovers the causal effect of religiosity on economic activity using a panel of countries for the period 1935-2000. The empirical findings suggest that i) church attendance has a positive impact on economic outcomes; ii) religious beliefs in the existence of god, hell, heaven and miracles have no systematic effect on economic outcomes, and iii) stronger faith is associated with prosperity. Moreover we extend our analysis to uncover the channels via which religiosity operates. Notably, the positive effect of religious participation and of stronger faith on economic outcomes operates via the creation of social capital and the development of traits, such as hard work and thrift, that are conducive to growth. [less ▲]

Detailed reference viewed: 51 (7 UL)
Full Text
See detailDissecting the Act of God: An Exploration of the Effect of Religion on Economic Activity
Litina, Anastasia UL; Carpantier, Jean-Francois UL

Presentation (2014)

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long ... [more ▼]

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long lasting effect on the religiosity of migrants. Second, exploiting variations in the inherited component of religiosity of migrants, our analysis uncovers the causal effect of religiosity on economic activity using a panel of countries for the period 1935-2000. The empirical findings suggest that i) church attendance has a positive impact on economic outcomes; ii) religious beliefs in the existence of god, hell, heaven and miracles have no systematic effect on economic outcomes, and iii) stronger faith is associated with prosperity. Moreover we extend our analysis to uncover the channels via which religiosity operates. Notably, the positive effect of religious participation and of stronger faith on economic outcomes operates via the creation of social capital and the development of traits, such as hard work and thrift, that are conducive to growth. [less ▲]

Detailed reference viewed: 46 (5 UL)
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See detailFiscal Integration and Growth Stimulation in Europe
Carpantier, Jean-Francois UL; Dreze, Jacques; Durré, Alain

in Recherches Economiques de Louvain = Louvain Economic Review (2014), 80(2), 5-45

Detailed reference viewed: 47 (0 UL)
Full Text
See detailTrade integration and trade imbalances in the European Union: a network perspective
Carpantier, Jean-Francois UL; Delvenne, Jean-Charles; Krings, Gautier

E-print/Working paper (2013)

We study the ever more integrated and ever more unbalanced trade relationships between European countries. To better capture the complexity of economic networks, we propose two global measures that assess ... [more ▼]

We study the ever more integrated and ever more unbalanced trade relationships between European countries. To better capture the complexity of economic networks, we propose two global measures that assess the trade integration and the trade imbalances of the European countries. These measures are the network (or indirect) counterparts to traditional (or direct) measures such as the trade-to-GDP (Gross Domestic Product) and trade deficit-to-GDP ratios. Our indirect tools account for the European inter-country trade structure and follow (i) a decomposition of the global trade flow into elementary flows that highlight the long-range dependencies between exporting and importing economies and (ii) the commute-time distance for trade integration,which measures the impact of a perturbation in the economy of a country on another country, possibly through intermediate partners by domino effect. Our application addresses the impact of the launch of the Euro. We find that the indirect imbalance measures better identify the countries ultimately bearing deficits and surpluses, by neutralizing the impact of trade transit countries, such as the Netherlands. Among others, we find that ultimate surpluses of Germany are quite concentrated in only three partners. We also show that for some countries, the direct and indirect measures of trade integration diverge, thereby revealing that these countries (e.g. Greece and Portugal) trade to a smaller extent with countries considered as central in the European Union network. [less ▲]

Detailed reference viewed: 67 (2 UL)
Full Text
See detailReal exchanges rates, commodities prices and structural factors in developing countries
Carpantier, Jean-Francois UL; Bodart, Vincent; Candelon, Bertrand

E-print/Working paper (2013)

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main ... [more ▼]

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main primary commodity. It investigates how structural factors like the exchange rate regime, the degree of financial and trade openness, the degree of export concentration and the type of the commodity exports affect the strength of the commodity price-real exchange rate dependence. [less ▲]

Detailed reference viewed: 58 (5 UL)
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See detailEmpirical Welfare Analysis - When Preferences Matter
Carpantier, Jean-Francois UL; Sapata, Christelle

E-print/Working paper (2013)

Fleurbaey and Maniquet have proposed the criteria of conditional equality and of egalitarian equivalence to assess the equity among individuals in an ordinal setting. Empirical applications are rare and ... [more ▼]

Fleurbaey and Maniquet have proposed the criteria of conditional equality and of egalitarian equivalence to assess the equity among individuals in an ordinal setting. Empirical applications are rare and only partially consistent with their framework. We propose a new empirical approach that relies on individual preferences, is consistent with the ordinal criteria and enables to compare them with the cardinal criteria. We estimate a utility function that incorporates individual heterogeneous preferences, obtain ordinal measures of well-being and apply conditional equality and egalitarian equivalence. We then propose two cardinal measures of well-being, that are comparable with the ordinal model, to compute Roemer’s and Van de gaer’s criteria. Finally we compare the characteristics of the worst-off displayed by each criterion. We apply this model to a sample of US micro data and obtain that about 18% of the worst-off are not common to all criteria. [less ▲]

Detailed reference viewed: 57 (2 UL)
See detailSpecific Markov-Switching Behavior for ARMA Parameters
Carpantier, Jean-Francois UL

Scientific Conference (2013)

Detailed reference viewed: 10 (5 UL)
See detailEmpirical Welfare Analysis - When Preferences Matter
Carpantier, Jean-Francois UL

Presentation (2013)

Detailed reference viewed: 45 (5 UL)
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See detailThe Asymmetric Commodity Inventory Effect on the Optimal Hedge Ratio
Carpantier, Jean-Francois UL; Samkharadze, Besik

in Journal of Futures Markets (2013), 33(9), 868-888

Detailed reference viewed: 184 (121 UL)
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See detailAn ex-post View of Inequality of Opportunity in France and its Regions
Carpantier, Jean-Francois UL; Sapata, Christelle

in Journal of Labor Research (2013), 34(3), 281-311

Detailed reference viewed: 187 (120 UL)