64 citations · 74 across the 8 of their papers we have counts for
7 papers · 1 filter
The Diffusive Nature of Housing Prices
Antoine-Cyrus Becharat, Michael Benzaquen, Jean-Philippe Bouchaud
We analyze the French housing market prices in the period 1970-2022, with high-resolution data from 2018 to 2022. The spatial correlation of the observed price field exhibits logar…
A minimal model of money creation under regulatory constraints
Victor Le Coz, Michael Benzaquen, Damien Challet
We propose a minimal model of the secured interbank network able to shed light on recent money markets puzzles. We find that excess liquidity emerges due to the interactions betwee…
Stylized facts in money markets: an empirical analysis of the eurozone data
Victor Le Coz, Nolwenn Allaire, Michael Benzaquen +1
Using the secured transactions recorded within the Money Markets Statistical Reporting database of the European Central Bank, we test several stylized facts regarding interbank mar…
How does liquidity shape the yield curve?
Victor Le Coz, Iacopo Mastromatteo, Michael Benzaquen
The phenomenology of the forward rate curve (FRC) can be accurately understood by the fluctuations of a stiff elastic string (Le Coz and Bouchaud, 2024). By relating the exogenous…
The Structure of Occupational Mobility in France
Max Sina Knicker, Karl Naumann-Woleske, Michael Benzaquen
In an era of rapid technological advancements and macroeconomic shifts, worker reallocation is necessary, yet responses to labor market shocks remain sluggish, making it crucial to…
Riding Wavelets: A Method to Discover New Classes of Price Jumps
Cecilia Aubrun, Rudy Morel, Michael Benzaquen +1
Cascades of events and extreme occurrences have garnered significant attention across diverse domains such as financial markets, seismology, and social physics. Such events can ste…
Unlearnable Games and "Satisficing'' Decisions: A Simple Model for a Complex World
Jerome Garnier-Brun, Michael Benzaquen, Jean-Philippe Bouchaud
As a schematic model of the complexity economic agents are confronted with, we introduce the ``SK-game'', a discrete time binary choice model inspired from mean-field spin-glasses.…