Nicolas
Coeurdacier

• "The One-Child Policy and Household Saving", with Taha Choukhmane and Keyu Jin, 2023. Journal of the European Economic Association, vol. 21, Issue 3  [pdf]. Older version as CEPR DP 9688 [Media coverage: voxeu, Project syndicate]. 

• "Capital Flows in an Aging World”, with Zsofia Barany and Stéphane Guibaud, 2023. Journal of International Economics, vol. 140 [pdf]. 

• “Financial integration and growth in a risky world”, with Hélène Rey and Pablo Winant, 2020 (revised version Oct. 2018). Journal of Monetary Economics, vol. 112, 1-21. [pdf].

• “When Bonds Matter: Home Bias in Goods and Assets”, with Pierre-Olivier Gourinchas, revised version April 2016 [pdf]. Journal of Monetary Economics, vol. 82, 119-137.

• “Credit Constraints and Growth in a Global Economy”, with Stephane Guibaud and Keyu Jin, 2015. American Economic Review, 105(9): 2838-81. [pdf]. Also CEPR DP 9109 [Media coverage: Project syndicate, South China morning post. link. see also a short interview link]

• “Fertility Policies and Social Security Reforms in China”, with Stéphane Guibaud and Keyu Jin, 2014,  IMF Economic Review, 62(3), 371-408. [pdf].

• “A Dynamic Equilibrium of Imperfectly Integrated Financial Markets”, with Stéphane Guibaud and Harjoat Bhamra, 2014, Journal of Economic Theory, 54, 490-542. [pdf].

• “Home bias in Open Economy Financial Macroeconomics”, with Helene Rey, 2013 [pdf]. Journal of Economic Literature, 51(1), 63-115. [Teaching Slides]

• “The Risky Steady State”, with Hélène Rey and Pablo Winant, 2011, American Economic Review, Papers and Proceedings. [pdf].  Longer version as CEPR DP 8751.

• “International Portfolios, Capital Accumulation and Foreign Assets Dynamics”, with Philippe Martin and Robert Kollmann, 2010, Journal of International Economics, 80 (1), p 100-112 [pdf & Appendix]

• “Do trade costs in goods market lead to home bias in equities?”, February 2009, Journal of International Economics, 77, p 86-100 [link]. CEPR Discussion Paper 6991 [pdf]

• “The Geography of Trade in Goods and Asset Holdings”, with Antonin Aviat, March 2007, Journal of International Economics, 71, p 22-51. [link]

• “International Portfolio Diversification Is Better Than You Think”, with Stéphane Guibaud, March 2011, Journal of International Money and Finance, vol. 30 (2), p 289-308. [pdf]

• “International portfolios with supply, demand and redistributive shocks”, with Philippe Martin and Robert Kollmann, 2007. CEPR Discussion Paper 6482 [pdf]. NBER International Seminar on Macroeconomics (ISOM) 2007. University of Chicago Press, edited by R. H. Clarida and F. Giavazzi.

• “Cross-Border Mergers and Acquisitions and European Integration”, with Roberto A. de Santis and Antonin Aviat, January 2009. Economic Policy, vol. 24 (57), p 55-106 [link].

• “The Geography of Asset Trade and the Euro: Insiders and Outsiders”, with Philippe Martin, 2009. Prepared for the NBER-TCER-CEPR, TRIO Conference, Tokyo, September 2007. CEPR Discussion Paper 6032. Journal of the Japanese and International Economies, Volume 23, Issue 2, p90-113 [pdf]. [Media coverage: VOX]

• “Structural Change, Land Use and Urban Expansion”, with Florian Oswald and Marc Teignier. Revised version July 2024 [pdf]. [Appendix A Data]. [Appendix B Model]. Also CEPR DP 17014. Revise and Resubmit Review of Economic Studies.

• “Credit Constraints and Growth in a Global Economy”, with Keyu Jin and Stephane Guibaud, Revised version April 2015. American Economic Review. [pdf]. Longer WP version [pdf]. Also CEPR DP 9109 [Media coverage: Project syndicate, South China morning post. link]

• “Home bias in Open Economy Financial Macroeconomics”, with Helene Rey, 2013 [pdf]. Also NBER WP 17691. Journal of Economic Literature. [Teaching Slides]

Work in progress

• “Fertility, Housing Costs and City Growth”, with Pierre-Philippe Combes, Laurent Gobillon and Florian Oswald. 

• “The Urban Mortality Penalty and Economic Development”, with Florian Oswald and Marc Teignier.

• “Structural Change, Climate Change and Land Use Policies”, with Cécile Gaubert and Emeric Henry.

• “The International Taxation of Capital when assets are imperfect substitutes”, with Elisa Faraglia and Francisco Gomes.

• “Limited Participation and International Risk Sharing”, with Hélène Rey and Tarik Ocaktan

Published Comments

• Comment on "From Global Savings Glut to Financing Infrastructure”, by R. Arezki, P. Bolton, S. Peters, F. Samama and J. Stiglitz, 2017. Economic Policy. [link].

• Comment on "Credit booms and macrofinancial stability", by G. Dell’Ariccia, D. Igan, L. Laeven, and H. Tong, Economic Policy, vol. 31 (86), 2016. [link]

• Comment on "Are bank capital ratios pro-cyclical? New evidence and perspectives", by M. Brei and L. Gambacorta, Economic Policy, vol. 31 (86), 2016. [link]

• Comment on "External balance in Low Income Countries" by L. Christiansen, A. Prati,  L. A. Ricci, and T. Tressel, NBER International Seminar on Macroeconomics (ISOM) 2009, University of Chicago Press, edited by R. H. Clarida and F. Giavazzi. [pdf]

Contributions to edited volumes

• Trade Costs and Home Bias”, 2013, Handbook of Safeguarding Global Financial Stability, Elsevier Ed., Chapter 22 p201-207  [pdf]

Discussions

• Global Value Chains and International Risk Sharing by G. Corsetti, L. D’Aguanno, A. Dogan, S. Lloyd and R. Sajedi, CEPR ESSIM, Banque de France, May 2024. [pdf]

• Demographics, Wealth, and Global Imbalances in the 21st Century, by A. Auclert et al., IMF 4th Macro-Financial Conference, Sept. 2021. [pdf]

• Information Frictions, Global Capital Markets, and the Telegraph, by B. Wache, RIEF Paris, Sept. 2021. [pdf]

• Economic consequences of follow-up disasters: lessons from the 2011 Great East Japan Earthquake, by M. Hamano et al., Waseda-SciencesPo workshop, 2021. [pdf]

• Revisiting External Imbalances: Insights from Sectoral Accounts, by C. Allen, RIEF Marseille, 2019 [pdf]

• From Global Savings Glut to Financing Infrastructure: The Advent of Investment Platforms, by R. Arezki, P. Bolton, S. Peters, F. Samama and J. Stiglitz, Economic Policy Panel, Amsterdam, Apr. 2016. [pdf]

• Policies for Macrofinancial Stability: How to Deal with Credit Booms?, by G. Dell’Ariccia, D. Igan, L. Laeven, and H. Tong, Economic Policy Panel, Luxemburg, Nov. 2015. [pdf]

• Are bank capital ratios pro-cyclical? New evidence and perspectives, by M. Brei and L. Gambacorta, Economic Policy Panel, Riga, April 2015. [pdf]

• The ‘Backus-Smith’ puzzle, non-tradable output and international business cycles, by S. Moon, World Finance Conference, Singapore, Dec. 2014 [pdf]

• The replacement of safe assets in the U.S. financial bond portfolio & implications for the U.S. financial bond home bias’ by C. Bertaut, A. Tabova and V. Wong, NBER IFM, Boston, July 2013 [pdf]

• Banking Across Borders by F. Niepmann, CEPR Macro. of Global Interdependence, Lausanne, March 2013 [pdf]

• Capital Controls and Currency Wars by A. Korinek, AEA Meetings, San Diego, January 2013 [pdf]

• Optimal Exchange Rate Policy in a Growing Semi-Open Economy by Bacchetta, P., K. Benhima and Y. Kalantzis, IMF Economic Review - Bank of England, London, December 2012 [pdf]

• International Financial Contagion through Leveraged Financial Institutions by E. van Wincoop, CEPR Paris School of Economics and Banque de France, October 2011 [pdf]

• Making Sense of China’s Excessive Reserves by Yi Wen, March 2011, Marseille [pdf]

• The Demand for Liquid Assets, Corporate Saving, and Global Imbalances, by P. Bachetta and K. Benhima, March 2011, CEPR Macroeconomics of Global Interdependence, London Business School [pdf]

• Asset Liquidity and Home Bias, by A. Geromichalos and I. Simonovoska, January 2011, AEA Meetings, Denver [pdf]

• Financial Risk: A Tragedy of the Commons, by T. Hassan and T.M Mertens, January 2011, AEA Meetings, Denver [pdf]

• International Risk-Sharing and Commodity Prices, by M. Crucini, M. Berka and C-W Wang, October 2010 - CEPR Conference on International Risk-Sharing, Brussels [pdf]

• External balance in Low Income Countries, by L. Christiansen, A. Prati,  L. A. Ricci, and T. Tressel, June 2009, NBER International Seminar on Macroeconomics (ISOM) 2009 [pdf]

• International Risk-Sharing: Through Equity Diversification or Exchange-Rate Hedging, by C. Engel and A. Matsumoto, December 2008, CEPR International Macro, Paris [pdf]