I have completed a Ph.D. in Economics at ESSEC Business School and Université Paris
1 Panthéon Sorbonne in Economics, under the supervision of André Fourçans and Christian
Bordes. My dissertation, entitled "Money and Risk in New Keynesian Dynamic
Stochastic General Equilibrium models", was defended on December 9, 2011. The jury
was composed by Laurent Clerc (Banque de France), Marc-Alexandre Sénégas (Université
Montesquieu - Bordeaux IV), Gunther Capelle-Blancard (Université Paris 1 Panthéon
Sorbonne and CEPII) and my two supervisors. 

The dissertation, fully written in English, investigates the links between money and risk
on output variations. My inquiry focuses on the potential role of money on output
depending on the level of risk. More specifically, I illustrate how the crises have
increased the role of money on production, whereas before and after crisis, money has
almost no role on output’s dynamics. 

Ultimately, I highlight how real money balances may act as a factor of production. To do
so, I suggest a New Keynesian DSGE model in which money enters explicitly the production
function. This model demonstrates that first, returns to scale should be decreasing and
second, that, although money enters explicitly the production function, it has no role on
the dynamics. By concluding with a deep examination of the three last crises, my model
provides robust results on the role of money during crises on output dynamics, role that
has been often disregarded by the literature. I believe my other findings about the
consideration of non-separable utilities or monetary policy could also provide relevant
recommendations for policy makers. 

Outside my thesis, my scholarly research interests range widely, from finance and
financial markets to macro and monetary economics.

Articles

Link

Money and risk in a DSGE framework: A Bayesian application to the Eurozone (with André Fourçans), Journal of Macroeconomics (2012)

We present and test a model of the Eurozone, with a special emphasis on the...

 

Working papers

Link

The role of money and monetary policy in crisis periods: the Euro area case (with André Fourçans) (2012)

In this paper, we test two models of the Eurozone, with a special emphasis on...

 

Link

Money and Risk Aversion in a DSGE Framework: A Bayesian Application to the Euro Zone (with André Fourçans) (2010)

In this paper, we set up and test a model of the Euro zone, with...