CEPII, Recherche et Expertise sur l'economie mondiale
Gilles Dufrénot

Research Associate

Economic Policy
Money & Finance
Emerging Countries



Tél. +33 (0)4 42 93 59 60


updated : June 16, 2021
Does relationship lender matter in an emerging markets?
Applied Economics, vol. 55, Taylor and Francis, 2023
Naël Shehadeh, Faicel Belaid, Gilles Dufrénot, Christelle Lecourt

Determinants of partial versus full cross-border acquisitions for sovereign wealth funds
Review of World Economics, Springer, 2023
Jeanne Amar, Mohamed Arouri, Gilles Dufrénot, Christelle Lecourt

Potential growth and natural yield curve in Japan
Journal of International Money and Finance, vol. 124, Elsevier, June 2022
Gilles Dufrénot, Meryem Rhouzlane, Etienne Vaccaro-Grange

Sovereign bond market integration in the euro area: a new empirical conceptualization
Annals of Operations Research , vol. 318, Springer, p.147-161, 2022
Gilles Dufrénot, Fredj Jawadi, Zied Ftiti

Risk-sharing in Europe: new empirical evidence on the capital markets channel
Applied Economics, vol. 53(2), Taylor and Francis, p.262-276, 2021
Gilles Dufrénot, Jean-Baptiste Gossé, Caroline Clerc

Exchange rate policy and external vulnerability in Sub-Saharan Africa: nominal, real or mixed targeting?
Applied Economics, vol. 53(3), Taylor and Francis, 2021
Fadia Al Hajj, Gilles Dufrénot

Unconventional monetary policy reaction functions: evidence from the US
Studies in Nonlinear Dynamics and Econometrics, vol. 24(4), De Gruyter, p.20080088, November 2020
Luca Agnello, Vitor Castro, Gilles Dufrénot, Fredj Jawadi & Ricardo Sousa

Power-law distribution in the external debt-to-fiscal revenue ratios: empirical evidence and a theoretical model
Journal of Macroeconomics, vol. 60, Elsevier, p.341-359, June 2019
Gilles Dufrénot, Anne-Charlotte Paret Onorato

A model of fiscal dominance under the "Reinhart conjecture"
Journal of Economic Dynamics and Control, vol. 93(0), Elsevier, p.332-345, August 2018
Gilles Dufrénot, Fredj Jawadi, Guillaume Khayat

Sovereign debt in emerging market countries: not all of them are serial defaulters
Applied Economics, vol. 50(59), Taylor & Francis, p.6406-6443, 2018
Gilles Dufrénot, Anne-Charlotte Paret Onorato

Monetary policy switching in the euro area and multiple steady states: an empirical investigation
Macroeconomic Dynamics, vol. 21(5), p.1175-1188, 2017
Gilles Dufrénot, GuillaumeKhayat

Tax evasion, tax corruption and stochastic growth
Economic Modelling, vol. 52(A), p.251-258, January 2016
Fred Célimène, Gilles Dufrénot, Gisèle Mophou, Gaston N'Guérékata

Fiscal policies enhancing growth in Europe: does one size fit all?
Oxford Economic Papers, vol. 68(4), p.1146-1165, 2016
Gilles Dufrénot, Carine Bouthevillain

Macroeconomic imbalances, financial stress and fiscal vulnerability in the euro area before the debt crises: a market view
Journal of International Money and Finance, N°67, p.123-146, 2016
Gilles Dufrénot, Karine Gente, Fredia Monsia

Nonlinear effects of asset prices on fiscal policy : Evidence from the UK, Italy and Spain
Economic Modelling, vol. 44, p.358-362, 2015
Luca Agnello, Gilles Dufrénot, Ricardo Sousa

Monetary policy switching in the euro area and multipleequilibria: an empirical investigation
Macroeconomic Dynamics, Forthcoming, 2015
Gilles Dufrénot, Anwar Khayat

Tax evasion, tax corruption and stochastic growth
Economic Modelling, Forthcoming, 2015
Fred Célimène, Gilles Dufrénot, Gisèle Mophou, Gaston N'Guérékata

Reactions to shocks and Monetary Policy regimes: inflation targeting versus flexible currency board in Sub-Saharan Africa
Developing Economies, Forthcoming, 2015
Fadia Al Hajj, Gilles Dufrénot, Kimiko Sugimoto, Romain Wolf

Business cycle synchronization in East Asia: A Markov switching approach
Economic Modelling, p.186-197, 2014
Gilles Dufrénot, Benjamin Keddad

Is financial repression a solution to reduce fiscal vulnerability? The example of France since the end of World war II
Applied Economics, vol. 46(6), p.629-637, 2014
Marcel Aloy, Gilles Dufrénot, Anne Péguin-Feissolle

A small macroeconometric model for Kazakstan: a retrospective of alternative economic policies undertaken during the transition process
Economic Change and Restructuring, vol. 47(1), p.1-39, 2014
Gilles Dufrénot, Adlya Ospanova, Alain Sand

West African Single Currency and Competitiveness
Review of Development Economics, N°4, p.763-777, November 2013
Gilles Dufrénot, Kimiko Sugimoto

Computational tools in econometric modelling for macroeconomics and finance
Economic Modelling, vol. 34, p.1-4, August 2013
Gilles Dufrénot, Fredj Jawadi

A smooth transition long-memory model
Studies in Nonlinear Dynamics and Econometrics, vol. 17(3), De Gruyter, p.281-296, May 2013
Marcel Aloy, Gilles Dufrénot, Charles Lai-Tong, Anne Péguin-Feissolle

Using time-varying transition probabilities in Markov-switching processes to adjust US fiscal policy for asset prices
Economic Modelling, vol. 34, p.25-36, 2013
Luca Agnello, Gilles Dufrénot, Ricardo Sousa

The changing role of house price dynamics over the business cycle
Economic Modelling, vol. 29(5), p.1960-1967, 2012
Gilles Dufrénot, Sheheryar Malik

Testing catching-up between developping countries: growth resistance and sometimes growth tragedy
Bulletin of Economic Research, vol. 64(4), p.470-508, 2012
Gilles DufrénotValérie Mignon, Théo Naccache

L'impact des fondamentaux macroéconomiques sur les spreads souverains de la zone euro est-il influencé par les réformes financières?
Revue Economique, vol. 62(6), p.1135-1145, January 2011
Olivier Damette, Gilles Dufrénot , Philippe Frouté

Are the effects of fiscal changes different in times of crisis and non-crisis? The French case
Revue d'Economie Politique, vol. 121(3), p.371-407, 2011
Carine Bouthevillain, Gilles Dufrénot

Les effets de la crise des subprimes sur le marché financier mexicain
Revue Economique, vol. 62(3), p.461-470, 2011
Gilles DufrénotValérie Mignon, Anne Péguin-Feissolle

The effects of the subprime crisis on the Latin American financial markets. An empirical assessment
Economic Modelling, vol. 28, p.2342-2357, 2011
Gilles DufrénotValérie Mignon, Anne Péguin-Feissolle

Les comportements d'emprunt des régions françaises. Quel degré d'hétérogénéité?
Revue Economique, vol. 62(5), p.919-940, 2011
Gilles Dufrénot, Philippe Frouté, Christophe Schalck

Monetary autonomy in the West African countries : what do the policy rules tell us?
Journal of International Development, N°1, Wiley, p.63-81, 2011
Gilles Dufrénot

Asymmetric Term of Trade Shocks in a Monetary Union: An Application to West Africa
Journal of African Economies, vol. 5(19), p.657-690, 2010
Agnès Bénassy-Quéré, Loïc Batté, Benjamin Carton, Gilles Dufrénot

The trade-growth nexus in the developing countries: a quantile regression approach
Review of World Economics, vol. 146(4), p.731-761, 2010
Gilles DufrénotValérie Mignon, Charalambos Tsangarides

A forewarning indicator system for financial crises: the case of six Central and Eastern European Countries
Journal of Economic Integration, vol. 24(4), p.87-115, March 2009
Gilles Dufrénot, Irène Andreou, Alain Sand-Zantman, Aleksandra Zdzienicka

Credit policy stress in the West African Economic and Monetary Union
Developing Economies, vol. 47(4), p.410-435, 2009
Gilles Dufrénot

Modelling the Slow Mean-Reversion of the Central and Eastern European Countries Real Exchange Rates
The Manchester School, vol. 76(1), p.21-43, January 2008
Gilles Dufrénot, Elizabeth Grimaud, Eugénie Latil, Valérie Mignon

Explaining the European exchange rates deviations: long memory or nonlinear adjustment
Journal of International Financial Markets, Institutions and Money, vol. 18(3), p.207-215, 2008
Gilles Dufrénot, Sandrine Lardic, Laurent Mathieu, Valérie Mignon & Anne Péguin-Feissolle

Persistent misalignments of the European exchange rates: some evidence from nonlinear cointegration
Applied Economics, vol. 38(2), p.203-229, 2006
Gilles Dufrénot, Laurent Mathieu, Valérie Mignon, Anne Péguin-Feissolle

Modeling the French consumption function using SETAR models
Economics Bulletin, vol. 20(3), p.1-16, 2004
Gilles DufrénotValérie Mignon

Modelling the misalignments of the Dollar-Sterling real exchange rate: A nonlinear cointegration perspective
Economics Bulletin, vol. 19(3), p.1-16, 2004
Slim Chaouachi, Gilles DufrénotValérie Mignon

Cointégration entre les taux de change et les fondamentaux : changement de régime ou mémoire longue ?
Revue Economique, vol. 55(3), p.449-458, 2004
Gilles Dufrénot, Sandrine Lardic, Laurent Mathieu, Valérie Mignon & Anne Péguin-Feissolle