Publications

2015

• Transactions in the European Carbon Market: a Bubble of Compliance in a Whirlpool of Speculation
  
  • Berta Nathalie
  • Gautherat Emmanuelle
  • Gun Ozgur
  , 2015. The European Union Emissions Trading Scheme (EU ETS) is supposed to help regulated installations to cover their CO2 emissions by trading in allowances. In practice, the EU ETS is mainly a financial market used for hedging and speculation. This financial feature is regarded as a solution (hedging and liquidity) to a problem (the price risk and volatility imposed on installations) which the market has actually created itself. This paper provides an estimation of the real underpinning of the scheme, i.e. the needs of installations for allowances transfers to achieve compliance in the two first exchange periods. This estimation, which was singularly lacking in the literature, shows that compliance transactions become more and more marginal as market activity grows and that they are drowned in a whirlpool of speculation. This challenges the role of the carbon price whose financial and self-referential evaluation can obviously not reveal installations' marginal abatement costs, the condition of cost-effectiveness expected from carbon trading.
• Empirical Phi-Discrepancies and Quasi-Empirical Likelihood: Exponential Bounds
  
  • Bertail Patrice
  • Gautherat Emmanuelle
  • Harari-Kermadec Hugo
  ESAIM: Proceedings and Surveys, EDP Sciences, 2015, 51, pp.212-231. We review some recent extensions of the so-called generalized empirical likelihood method, when the Kullback distance is replaced by some general convex divergence. We propose to use, instead of empirical likelihood, some regularized form or quasi-empirical likelihood method, corresponding to a convex combination of Kullback and χ2 discrepancies. We show that for some adequate choice of the weight in this combination, the corresponding quasi-empirical likelihood is Bartlett-correctable. We also establish some non-asymptotic exponential bounds for the confidence regions obtained by using this method. These bounds are derived via bounds for self-normalized sums in the multivariate case obtained in a previous work by the authors. We also show that this kind of results may be extended to process valued infinite dimensional parameters. In this case some known results about self-normalized processes may be used to control the behavior of generalized empirical likelihood. (10.1051/proc/201551012)
  DOI : 10.1051/proc/201551012
• Les revues de sciences humaines et sociales en France: libre accès et audience
  
  • Bacache-Beauvallet Maya
  • Benhamou Françoise
  • Bourreau Marc
  , 2015. La Commission européenne a émis le 17 juillet 2012 une recommandation en faveur du libre accès aux résultats de la recherche financée sur fonds publics. La question posée aux politiques publiques est celle de la durée pendant laquelle l’accès peut être payant avant le passage à la gratuité de l’article. Il s’agit donc de prendre la mesure des gains et des coûts d’une telle politique de libre accès pour déterminer quel serait le délai optimal d’embargo.
• Forty years of immigrant segregation in France, 1968-2007 How different is the new immigration?
  
  • Pan Ké Shon Jean-Louis
  • Verdugo Gregory
  Urban Studies, SAGE Publications, 2015, 52 (5), pp.823-840. Analysing restricted access census data, this paper examines the long-term trends of immigrant segregation in France from 1968 to 2007. Similar to other European countries, France experienced a rise in the proportion of immigrants in its population that was characterised by a new predominance of non-European immigration. Despite this, average segregation levels remained moderate. While the number of immigrant enclaves increased, particularly during the 2000s, the average concentration for most groups decreased because of a reduction of heavily concentrated census tracts and census tracts with few immigrants. Contradicting frequent assertions, neither mono-ethnic census tract nor ghettoes exist in France. By contrast, many immigrants live in census tracts characterised by a low proportion of immigrants from their own group and from all origins. A long residential period in France is correlated with lower concentrations and proportion of immigrants in the census tract for most groups, though these effects are sometimes modest. 1 The authors accessed the Census data via the Centre d'accès sécurisé distant (CASD), dedicated to the use of authorized researchers, following the approval of the Comité français du secret statistique. This research was partially supported by a French State grant ANR-10-EQPX-17 (Centre d'accès sécurisé aux données-CASD). We thank three anonymous referees for insightful comments. Jean-Louis Pan Ké Shon would also like to thank Loïc Wacquant for his comments during discussions in the early stage of this project. This paper does not necessarily reflect the views of the Banque de France. (10.1177/0042098014529343)
  DOI : 10.1177/0042098014529343