INFINHET

Within and across countries heterogeneity in international finance

Coordinatore	FONDATION NATIONALE SCIENCES POLITIQUES    more Spiacenti, non ci sono informazioni su questo coordinatore. Contattare Fabio per maggiori infomrazioni, grazie.
Nazionalità Coordinatore	France [FR]
Totale costo	1˙176˙938 €
EC contributo	1˙176˙938 €
Programma	FP7-IDEAS-ERC Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
Code Call	ERC-2013-StG
Funding Scheme	ERC-SG
Anno di inizio	2014
Periodo (anno-mese-giorno)	2014-01-01   -   2017-12-31

 Partecipanti

#	participant	country	role	EC contrib. [€]
1	FONDATION NATIONALE SCIENCES POLITIQUES  Organization address address: RUE SAINT GUILLAUME 27 city: PARIS CEDEX 07 postcode: 75341 contact info Titolo: Mrs. Nome: Cathy Cognome: Benard Email: send email Telefono: +33 1 45 49 56 36	FR (PARIS CEDEX 07)	hostInstitution	1˙176˙938.00
2	FONDATION NATIONALE SCIENCES POLITIQUES  Organization address address: RUE SAINT GUILLAUME 27 city: PARIS CEDEX 07 postcode: 75341 contact info Titolo: Prof. Nome: Nicolas Mathieu Georges Cognome: Coeurdacier Email: send email Telefono: +33 1 45 49 51 62 Fax: +33 1 45 49 72 57	FR (PARIS CEDEX 07)	hostInstitution	1˙176˙938.00

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 Obiettivo del progetto (Objective)

'Financial globalization has led to a large increase in capital flows together with increasing global imbalances. Understanding how investors structure their international portfolios and how such decisions interact with the real side of the economy has become a critical macro issue. Recently, policy makers have been advocating the understanding of capital flows and global imbalances as a necessary step to analyze the roots of the last financial crisis and its international transmission. Another important evolution is the larger role played by fast growing emerging markets. The world is getting more asymmetric as they feature very different characteristics compared to developed countries.

INFINHET aims at developing new dynamic multi-country macro-models to better account for the heterogeneity across agents and across countries in order to answer age-old questions in international macro such as the benefits from financial integration, the adjustment of global imbalances, the dynamics of exchange rates and asset prices, international financial contagion, the international dimension of tax policies.

The first part of INFINHET deals with new methods for dynamic stochastic models with heterogeneous agents/countries. Applications include normative questions regarding the welfare impact of policies in open economies and positive questions regarding the dynamics of asset prices and capital flows. The second part focuses on long-term issues in multi-country overlapping generations models. It analyzes the importance of asymmetries between countries on macroeconomic outcomes in a globalized world. Besides differences in growth and demographics, asymmetries in financial institutions, insurance mechanisms and welfare states are emphasized, with a particular focus on the specificities of China. The theoretical predictions will be tested empirically. This will require the development of panel data based on cross-country aggregates and the use of micro data based on individuals.'