Matthieu Picault

Matthieu Picault
Université d'Orléans | UO · Laboratoire d'Economie d'Orléans

PhD

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9
Publications
1,464
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53
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Introduction
Matthieu Picault is an Associate Professor of Economics at the University of Orléans and a researcher at the Laboratoire d'Economie d'Orléans (LEO) . Matthieu does research in Financial Economics, Monetary Economics, Banking and Central Banking.

Publications

Publications (9)
Preprint
Full-text available
We investigate the effectiveness of the bank lending channel, that is, whether, and if so how, the accommodative monetary policies of the European Central Bank (ECB) mitigated the disruption in bank lending between 2008 and 2014. We show that both standard and non-standard measures of the ECB's accommodating monetary policy alleviated banks' fundin...
Article
We construct a new indicator to capture media sentiment about the European Central Bank monetary policy and its relevant environment by analyzing 25,000 articles from five major international newspapers. Using named entity recognition and part-of-speech tagging, we propose a methodology to dissociate the dissemination of official communications of...
Article
Full-text available
We construct a new indicator to capture media sentiment about the European Central Bank monetary policy and its relevant environment by analyzing 25,000 articles from five major international newspapers. Using named entity recognition and part-of-speech tagging, we propose a methodology to dissociate the dissemination of official communications of...
Article
Full-text available
Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks' liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks' participation in the syndicated loan market. We furt...
Preprint
Full-text available
We construct a new indicator to capture media sentiment about the European Central Bank monetary policy and its relevant environment by analyzing 25,000 articles from five major international newspapers. Using named entity recognition and part-of-speech tagging, we propose a methodology to dissociate the dissemination of the central bank's official...
Article
Full-text available
We present a theoretical model in which the central bank cares about the short-term stability of financial markets, which gives it an incentive to keep market expectations about future rates at a low level. This incentive is stronger when financial institutions are perceived to be fragile, because the impact on financial stability of a rise in rate...
Article
Full-text available
We develop a field-specific dictionary to measure the stance of the European Central Bank (ECB) monetary policy (dovish, neutral, hawkish) and the state of the Eurozone economy (positive, neutral, negative) through the content of ECB press conferences. In contrast with traditional textual analysis, we propose a novel approach using term-weighting a...
Article
Full-text available
On July 4, 2013, following several other major central banks, the European Central Bank (ECB) gave for the first time forward guidance on interest rates, which affected market participants' expectations of future interest rates in the context of a Zero Lower Bound. Using an ARMAX(1,1) model in which the effect of the communication of negative macro...

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