WorldCat Identities

Kempf, Hubert

Overview
Works: 176 works in 382 publications in 3 languages and 1,921 library holdings
Genres: Textbooks  History 
Roles: Author, Editor, Thesis advisor, Other, Publishing director, Opponent, Contributor, Honoree
Publication Timeline
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Most widely held works by Hubert Kempf
Macroéconomie by Hubert Kempf( Book )

13 editions published between 1995 and 2006 in 3 languages and held by 242 WorldCat member libraries worldwide

S'efforçant de comprendre le fonctionnement et les problèmes globaux d'une économie de marché puis de leur trouver des solutions, la macroéconomie est un domaine d'étude dont les enjeux, sont considérables, qu'ils soient économiques sociaux ou politiques. L'ouvrage présente les bases de l'analyse macroéconomique mais aussi les recherches les plus récentes. Evitant l'excès de formalisation mathématique, il accorde une place importante à la présentation des concepts et des méthodes ainsi qu'aux explications, aux vérifications et aux interprétations des faits. Des repères statistiques et des exemples empiriques sont largement introduits pour illustrer les exposés théoriques
Market imperfections and macroeconomic dynamics by Jean-Olivier Hairault( Book )

11 editions published between 2002 and 2011 in English and held by 202 WorldCat member libraries worldwide

Market Imperfections and Macroeconomic Dynamics is based upon a collection of papers originally presented at the 5th Theory and Methods in Macroeconomics (T2M) meeting in Paris, France, 2002. The contributions in this volume focus on a central theme: the aggregate dynamic consequences of market imperfections. Such effects are of great interest to researchers in macroeconomics as these imperfections play a primary role in the persistence of aggregate output, the characteristics of the business cycles and the interactions of agents over time. Incorporating up-to-date techniques and methods, these contributions exemplify the remarkable progress made by macroeconomists in tackling these issues. The primary market for Market Imperfections and Macroeconomic Dynamics is academic researchers in economics and graduate students specializing in macroeconomics. Divisions of economic studies in public administration and in financial organizations will also find this book beneficial
Establishing a monetary union by Russell W Cooper( )

16 editions published between 1998 and 2000 in English and held by 157 WorldCat member libraries worldwide

This paper explores the gains to monetary union. We consider a two-country overlapping generations model. Agents work when young and have random tastes over the composition (domestic vs. foreign goods) of old age consumption. In equilibrium, governments require that local currency be used for transactions as a means of creating a base for seignorage. Thus agents hold multiple currencies to deal with uncertainty in their optimal consumption bundles. We argue that this equilibrium is Pareto dominated by a monetary union, in which there is a single currency and a strong central bank that optimally chooses zero inflation. As suggested by the European Commission's 1990 report, monetary union reduces the inefficiencies created by multiple currencies and leads to price stability. Finally, we argue this Pareto superior outcome cannot be achieved without cooperation of the two governments
Designing stabilization policy in a monetary union by Russell W Cooper( )

18 editions published in 2000 in English and held by 143 WorldCat member libraries worldwide

While the European Monetary Union (EMU) is now a reality, debate among economists nonetheless continues about the design and desirability of monetary unions. Since an essential element of a monetary union is the delegation of monetary power to a single centralized entity, one of the key issues in this debate is whether a monetary union will limit the effectiveness of stabilization policy. If so, monetary union will not necessarily be welfare improving. In this paper, we study a two-country world economy and consider various designs of monetary union. We argue that the success of monetary union depends on : (i) the commitment ability of the single central bank, (ii) the policy flexibility of the national fiscal authorities and the central monetary authority and (iii) the cross country correlation of shocks. If, for example, the central bank moves before the fiscal authorities, then a monetary union will increase welfare as long as fiscal policy is sufficiently responsive to shocks. However, if the fiscal authorities have a restricted set of tools and/or the monetary authority lacks the ability to commit to its policy, then monetary union may not be desirable
Le liberalisme a l'americaine : l'Etat et le marche by Marie-France Toinet( Book )

10 editions published in 1989 in French and held by 120 WorldCat member libraries worldwide

Is it is or is it ain't my obligation? : regional debt in a fiscal federation by Russell W Cooper( )

16 editions published between 2005 and 2015 in English and Undetermined and held by 116 WorldCat member libraries worldwide

This paper studies the repayment of regional debt in a multi-region economy with a central authority: who pays the obligation issued by a region? With commitment, a central government will use its taxation power to smooth distortionary taxes across regions. Absent commitment, the central government may be induced to bailout the regional government in order to smooth consumption and distortionary taxes across the regions. We characterize the conditions under which bailouts occur and their welfare implications. The gains to creating a federation are higher when the (government spending) shocks across regions are negatively correlated and volatile. We use these insights to comment on actual fiscal relations in three quite different federations: the US, the European Union and Argentina
La présidence américaine by Marie-France Toinet( Book )

3 editions published in 1996 in French and held by 88 WorldCat member libraries worldwide

Deposit insurance without commitment : Wall St. versus Main St by Russell W Cooper( )

10 editions published in 2011 in English and held by 87 WorldCat member libraries worldwide

This paper studies the provision of deposit insurance without commitment in an economy with heterogenous households. When households are identical, deposit insurance will be provided ex post to reap insurance gains. But the ex post provision of deposit insurance redistributes consumption when households differ in their claims on the banking system as well as in their tax obligations to finance the deposit insurance. Deposit insurance will not be provided ex post if it requires a (socially) undesirable redistribution of consumption which outweighs insurance gains
Deposit insurance and orderly liquidation without commitment : can we sleep well? by Russell W Cooper( )

6 editions published in 2013 in English and held by 82 WorldCat member libraries worldwide

This paper assess the affects of the orderly liquidation of a failing bank and the ex post provision of deposit insurance on the prospect of bank runs. Assuming that the public institutions in charge of these policies lack commitment power, these interventions, both individually and jointly, are chosen and undertaken ex post. The costs of liquidation and redistribution across heterogenous households play key roles in these decisions. If investment is suffciently illiquid, a credible liquidation policy will deter runs. Deposit insurance will not be provided ex post if it requires a (socially) undesirable redistribution of consumption that outweighs insurance gains. Despite the lack of commitment, runs can be prevented by the provision of deposit insurance funded by an optimally designed ex post tax scheme
Is it is or is it ain't my obligation? regional debt in monetary unions by Russell W Cooper( Book )

13 editions published in 2004 in English and held by 69 WorldCat member libraries worldwide

This paper studies the implications of the circulation of interest bearing regional debt in a monetary union. Does the circulation of this debt have the same monetary implications as the printing of money by a central government? Or are the obligations of this debt simply backed by future taxation with no inflationary consequences? We argue here that both outcomes can arise in equilibrium. In the model economy we consider there are multiple equilibria which reflect the perceptions of agents regarding the manner in which the debt obligations will be met. In one equilibrium, termed Ricardian, the future obligations are met with taxation by a regional government while in the other, termed Monetization, the central bank is induced to print money to finance the region's obligations. The multiplicity of equilibria reflects a commitment problem of the central bank. A key indicator of the selected equilibrium is the distribution of the holdings of the regional debt. We use the model to assess the impact of policy measures, such as fiscal restrictions, within a monetary union
Économie des unions monétaires : institutions et politiques by Hubert Kempf( Book )

3 editions published in 2019 in French and held by 67 WorldCat member libraries worldwide

La 4e de couv. indique : "Qu'est-ce qu'une union monétaire ? Peut-on définir de « bonnes » institutions et de « bonnes » politiques pour une telle union ? Comment s'articulent les politiques économiques et quels problèmes se posent à une union monétaire, susceptibles de mettre en cause sa viabilité ? Cet ouvrage cherche à répondre à ces questions en recourant aux développements récents de la recherche et en développant une conception originale de l'union monétaire."
Monnaie, taux d'intèret et anticipations : études coordonnées by Hubert Kempf( Book )

7 editions published in 1992 in French and held by 60 WorldCat member libraries worldwide

Insulation impossible : fiscal spillovers in a monetary union by Russell W Cooper( )

13 editions published between 2009 and 2010 in English and held by 56 WorldCat member libraries worldwide

This paper studies the effects of monetary policy rules in a monetary union. The focus of the analysis is on the interaction between the fiscal policy of member countries (regions) and the central monetary authority. When capital markets are integrated, the fiscal policy of one country will influence equilibrium wages and interest rates. Thus there are fiscal spillovers within a federation. The magnitude and direction of these spillovers, in particular the presence of a crowding out effect, can be influenced by the choice of monetary policy rules. We find that there does not exist a monetary policy rule which completely insulates agents in one region from fiscal policy in another. Some familiar policy rules, such as pegging an interest rate, can provide partial insulation
Monetary policy and the financial accelerator in a monetary union by Simon Gilchrist( Book )

9 editions published in 2002 in English and held by 36 WorldCat member libraries worldwide

"In this paper, we consider the effect of a monetary union in a model with a significant role for financial market imperfections. We do so by introducing a financial accelerator into a stochastic general equilibrium macro model of a two country economy. We show that financial market imperfections introduce important cross-country transmission mechanisms to asymmetric shocks to supply and demand. Within this framework, we study the likely costs and benefits of monetary union. We also consider the effects of cross-country heterogeneity in financial markets. Both the presence of financial frictions and the use of a single currency have significant impacts on the international propagation of exogenous shocks. The introduction of asymmetries in the financial contract widens the difference in cyclical behavior of national economies in a monetary union, but financial integration compensates the loss of policy instruments"--Federal Reserve Board web site
Alternative time patterns of decisions and dynamic strategic interactions by Pierre Cahuc( Book )

9 editions published in 1995 in English and held by 31 WorldCat member libraries worldwide

Digitised version produced by the EUI Library and made available online in 2020
Cointegration, codependence and economic fluctuations by Giampiero M Gallo( Book )

10 editions published in 1995 in English and held by 21 WorldCat member libraries worldwide

Digitised version produced by the EUI Library and made available online in 2020
On policy interactions among nations when do cooperation and commitment matter? by Hubert Kempf( Book )

8 editions published between 2008 and 2014 in English and Undetermined and held by 18 WorldCat member libraries worldwide

This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes can admit the same equilibrium outcome if certain spillover effects vanish at the common solution of these games. We provide a detailed discussion of these spillovers, showing that, in general, commitment and cooperation are non-trivial issues. Yet, in linear-quadratic models with multiple policymakers commitment and cooperation schemes are shown to become irrelevant under certain assumptions. The framework is sufficiently general to cover a broad range of results from the recent literature on policy interactions as special cases, both within monetary unions and among fully sovereign nations
Overturning Mundell : fiscal policy in a monetary union by Russell W Cooper( Book )

4 editions published in 2002 in English and held by 18 WorldCat member libraries worldwide

"Central to ongoing debates over the desirability of monetary unions is a supposed trade-off, outlined by Mundell [1961]: a monetary union reduces transactions costs but renders stabilization policy less effective. If shocks across countries are sufficiently correlated, then, according to this argument, delegating monetary policy to a single central bank is not very costly and a monetary union is desirable"--Federal Reserve Bank of Minneapolis web site
Zur Leistungsfähigkeit von Sortenmischungen bei Winterweizen unter Ausschluss von Krankheitsbefall by Hubert Kempf( Book )

3 editions published in 1990 in German and held by 16 WorldCat member libraries worldwide

Über die alkalische aufschliessung des besenginsters zur gewinnung spinnfähiger faserbundel by Hubert Kempf( Book )

4 editions published in 1919 in German and held by 15 WorldCat member libraries worldwide

 
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Market imperfections and macroeconomic dynamics
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Alternative Names
Hubert Kempf economist (Paris School of Economics; École Normale Supérieure (ENS Cachan))

Hubert Kempf econoom

Hubert Kempf Wirtschaftswissenschaftler (Tätig als Leiter des Forschungsteams EUREQua;tätig an der Paris School of Economics, France (2008) ; tätig an der Univ. Paris I Panthéon-Sorbonne; seit 1990 MAD; Europ. Univ. Inst., Florenz; Univ. of Caen)

Kempf H.

Kempf, H. 1953-

Kempf, Hubert, agrégé de science économique

Languages
English (142)

French (34)

German (7)