The latest international economic trends analyzed by CEPII's economists

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Michel Aglietta
Yves-Emmanuel Bara
Maria Bas
Agnès Bénassy-Quéré
Antoine Berthou
Céline Carrère
Benjamin Carton
Matthieu Crozet
Christophe Destais
Evelyne Dourille-Feer
Etienne Espagne
Lionel Fontagné
Michel Fouquin
Jean Fouré
Julien Gourdon
Olena Havrylchyk
Colette Herzog
Sébastien Jean
Marc Joëts
Svetlana Ledyaeva
Françoise Lemoine
Stéphane Lhuissier
Valérie Mignon
Cristina Mitaritonna
Laurence Nayman
Marcelo Olarreaga
Gianluca Orefice
Jean Pisani-Ferry
Sophie Piton
Urszula Szczerbowicz
Fabien Tripier
Deniz Ünal
Natacha Valla
Guanghua Wan

The “$100 000 000 000 per year” question

Environment & Natural Resources 
Post, October 8, 2015
By Christian De Perthuis, Pierre-André Jouvet
A mechanism of carbon “bonus-malus” is proposed, where the average emission rate of world countries serves as the anchor: above the threshold, countries should pay a malus, under this level, they would receive a bonus.
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Financial Innovation and The State: Lessons for 21st Century Climate Finance from the 19th Century Railways Era

Environment & Natural Resources 
Post, October 1, 2015
By Dipak Dasgupta
This paper seeks to bring a historical perspective to current global financial architecture issues on the speed and scale of climate finance needed to achieve a safer two degrees world. We look back in history to a similar episode for lessons: the financing and building of railroads in the 19th century.
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Supporting the energy transition: the role of low interest rates

Environment & Natural Resources 
Post, October 1, 2015
By Pierre Monnin
Low interest rates tend to favor ‘green technologies’ competitiveness while also increasing their cost volatility.
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The Role of International Financial Institutions, Central Banks and Monetary Policies in the Low-Carbon Transition

Environment & Natural Resources 
Post, October 1, 2015
By Colin Hines
An argument in favor of Green infrastructure Quantitative Easing (GIQE).
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Sovereign debt restructuring: alternative solutions

Money & Finance 
Post, September 24, 2015
By Christophe Destais
The implementation of a multilateral mechanism for sovereign debt restructuring that the UN is calling for, is illusory. However, progress could be achieved in different ways: improving the contractual terms, introducing new clauses on automatic debt reprofiling and using the leverage of international funding.
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An Investment Climate for Climate Investment

Environment & Natural Resources 
Post, September 22, 2015
By Sam Fankhauser
Three factors hold back low-carbon investment in Europe: the risk/return profile of low-carbon investment projects, regulatory and behavioural features in the financial sector and a more global political economy context. These are key issues to create an investment climate for climate investment.
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What Role for Financial Supervisors in Addressing Systemic Environmental Risk?

Environment & Natural Resources 
Post, September 22, 2015
By Rens van Tilburg
Financial shocks can originate from ecological imbalances what justifies more careful attention by the financial regulators to this specific risk. A new macroprudential framework is proposed.
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Positive Pricing of Carbon Reduction: A Low Hanging Fruit

Environment & Natural Resources 
Post, September 22, 2015
By Alfredo Sirkis
A new UN Climate agreement will probably be signed by the end of this year with some incremental progress but even inveterate optimists like myself don’t believe it will be capable of ‘bridging the gap’ between the maximum that 196 governments can agree upon by consensus...
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The exit from the U.S. zero interest-rate policy should be done gradually

Money & Finance | Economic Policy 
Post, September 18, 2015
By Stéphane Lhuissier, Fabien Tripier
Once again, the Federal Reserve has postponed the date of exit from the zero lower bound. We show that the pace of the tightening cycle matters more than the exact timing of the first interest rate hike for the macroeconomy.
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More Political Economy on Global Warming and a Proposition

Environment & Natural Resources 
Post, September 18, 2015
By Michel Aglietta, Etienne Espagne
We draw six political economy lessons from the actual dynamics of climate negotiations and their connection to the new macroeconomic normal emerging in the aftermath of the 2008 crisis. A specific proposal follows.
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