Objectif 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. Champ scientifique social sciencessociologygovernancetaxationsocial sciencessociologyglobalization Programme(s) 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) Thème(s) ERC-SG-SH1 - ERC Starting Grant - Individuals, institutions and markets Appel à propositions ERC-2013-StG Voir d’autres projets de cet appel Régime de financement ERC-SG - ERC Starting Grant Institution d’accueil FONDATION NATIONALE DES SCIENCES POLITIQUES Contribution de l’UE € 1 176 938,00 Adresse RUE SAINT GUILLAUME 27 75341 Paris France Voir sur la carte Région Ile-de-France Ile-de-France Paris Type d’activité Higher or Secondary Education Establishments Contact administratif Cathy Benard (Mrs.) Chercheur principal Nicolas Mathieu Georges Coeurdacier (Prof.) Liens Contacter l’organisation Opens in new window Site web Opens in new window Coût total Aucune donnée Bénéficiaires (1) Trier par ordre alphabétique Trier par contribution de l’UE Tout développer Tout réduire FONDATION NATIONALE DES SCIENCES POLITIQUES France Contribution de l’UE € 1 176 938,00 Adresse RUE SAINT GUILLAUME 27 75341 Paris Voir sur la carte Région Ile-de-France Ile-de-France Paris Type d’activité Higher or Secondary Education Establishments Contact administratif Cathy Benard (Mrs.) Chercheur principal Nicolas Mathieu Georges Coeurdacier (Prof.) Liens Contacter l’organisation Opens in new window Site web Opens in new window Coût total Aucune donnée