Working papers

Set-up costs and the financing of young firms. CEPR Discussion paper 14512, March 2020. With François Derrien and Guillaume Vuillemey. 

Banks’ climate commitment and credit to brown industries: new evidence for France, Banque de France Working Paper No. 743, November 2019. Submitted.

Corporate investment and the WACC: new micro evidence for France, Banque de France Working Paper No. 710, March 2019. With Juan Carluccio and Clément Mazet-Sonilhac. Under revision  for the European Journal of Finance.

The real effects of invoicing exports in dollars. With Antoine Berthou and Guillaume Horny. January 2020. Revised version of:  Dollar funding and firm-level exports, Banque de France Working Paper No. 666, March 2018. Under revision for the Journal of International Economics.


Work in progress


Coming soon! Good connections: bank specialization and the tariff elasticity of exports. With A. Berthou and T. Mayer.

Coming soon! Local bank specialization, branch closings and credit to SMEs. With A. Duquerroy, C. Mazet-Sonilhac and D. Paravisini.

Some don't like it hot:  mandatory climate-related disclosure and the  financing  of  fossil energy. With Benoit Nguyen.

Pointing at dirty banks: the market impact of environmental NGO campaigns. With Clément Mazet-Sonilhac and Andrea Stringhetti.


Older unpublished working papers

Fiscal sustainability, default risk and euro area sovereign bond spreads. Banque de France Working Paper No. 350, July 2012, with V. Borgy, T. Laubach and J.-P. Renne. 

Does uncertainty make a time-varying natural rate of interest irrelevant for the conduct of monetary policy? October 2007, with J.-P. Renne.


Règle de Taylor et politique monétaire dans la zone euro. September 2004, with J.-P. Renne.


Bank loan portfolios, bank heterogeneity and the bank lending channel: new macro evidence for France. October 2008.


Bank capital and monetary policy transmission: a survey. July 2005 (in French).