Presentation

Who are we?

CRESE (Centre de REcherche sur les Stratégies Économiques) is a French research center created in 1985 and attached to the faculty of Law, Economics, Politics and Management at the University Marie & Louis Pasteur (UMLP).

CRESE is a member of the DGEP doctoral school, the TRANSBIO Graduate School of UBFC, the MSHE Ledoux, the ZAAJ, the FR Educ at the regional level, and the GDRE Monnaie, Banque et Finance and the GDR jeux at the national level.

CRESE covers a wide range of activities related to theoretical and applied research in economics. CRESE has its own experimental laboratory since 2017. Every Thursday, approximately, a research seminar is held in CRESE and 3-4 conferences for a general audience are organized every year in partnership with the faculty of Law, Economics, Politics and Management.

The scientific activity is divided into three research areas:

Area 1: Contracts, markets and regulation
Area 2: Individual and collective decisions
Area 3: Finance, banking and macroeconomics

In addition, two themes are transversal to these three areas :

Environmental challenges of economic issues ;
Evaluation of public policies.

Research axes

Axis 1 : Contracts, markets and regulations

The research carried out in the axis “contracts, markets and regulation” focuses on the analysis of market regulation policies when those markets present, for instance, failures related to information asymmetries. They can be related to normative economics, i.e., they aim at defining optimal policies, e.g., when the regulator cannot observe the characteristics and/or behaviors of economic agents. They can also provide an analysis of concrete regulatory policies in several fields of the economy:

Health
Health care
Agriculture
Finance
Regulation against fraudulent behavior in markets
Auction mechanisms

Faculty members (primary affiliation): Vincent Bertrand, Karine Brisset, Jihad Elnaboulsi, François Maréchal, Florence Naegelen, Sandrine Ollier, Lionel Thomas.

Faculty members (secondary affiliation): Julie Beugnot, Marc Deschamps, Yves Oytana, Emmanuel Peterle.

Axis 2 : Individual and collective decisions

The axis studies individual and collective decision making, based on game theory (which models interaction situations) and social choice theory (which studies the aggregation of individual preferences) and carries out:

fundamental research, notably via axiomatic, probabilistic and equilibrium approaches;
experiments (Experimental Economics Laboratory, created in 2017, or field experiments) to test the validity of the models, which are based on strict protocols to control the environment, and thus isolate the causal impact of different factors;
applications to the fileds of law and economics, voting, and recruitment in the labor market.

The axis is closely linked to the international Master 1 ISITE BDEEM via behavioral economics.

Faculty members (primary affiliation): Sylvain Béal, Julie Beugnot, François Cochard, Marc Deschamps, Mostapha Diss, Yves Oytana, Emmanuel Peterle, Kevin Techer.

Faculty members (secondary affiliation): Karine Brisset, François Maréchal, Florence Naegelen.

Axis 3 : Finance, banking and macroeconomics

That axis studies finance in its many forms: corporate finance, green finance, public finance, participatory finance and microfinance. It also studies economics of banking and macroeconomics, both in the financial and real spheres.

The main research themes of this axis are the following:

Corporate and bank governance: role of shareholders in corporate governance; role of transparency in bank governance.
Banking and participatory finance: microcredit and microfinance; SMEs financing; financing the low-carbon transition.
Market finance and energy markets: commodity markets (including oil markets), carbon finance.
Public finance: disparities and efficiency of local government spending.
Monetary policy and its links with financial markets: analysis of central bankers’ speeches; impact of monetary policy on the stability of financial markets.
Real macroeconomics: determinants and location choices of foreign direct investment.

The axis proposes regular workshops. Members also offer their expertise to many institutes such as the Consultative Committee on Financial Legislation and Regulations, the ECON Committee of the European Parliament for its monetary dialogue with the ECB or the IFO World Economic Survey Expert Group.

In addition, this axis has a very close link with university training: in partnership with ESbanque and on a work-study basis, the Bachelor’s degree in Banking (Licence Pro Banque) enables students to train for commercial jobs in bancassurance. The Master’s degree in Banking and Finance aims to train generalist banking and finance executives by providing them with practical and conceptual skills in many fields. The Master’s degree in Bank Officers, in partnership with ESBanque and on a work-study basis, enables students to train for the job of customer service advisor.

Faculty members (primary affiliation): Jean-Baptiste Bonnier, Marie-Line Duboz, Chouaib Jouf, Fabien Labondance, Maria Mansanet-Bataller, Zaka Ratsimalahelo, Catherine Refait-Alexandre, Eric Rimbaux.

Faculty members (secondary affiliation): Sylvain Béal, Vincent Bertrand.

Organization chart

The governance of CRESE is based on several structures with very distinct purposes.

Coordinators of research axis	François MARÉCHAL (axis 1) François COCHARD (axis 2) Fabien LABONDANCE (axis 3)
Responsible of seminars and conferences	Marc DESCHAMPS
Responsible of conferences for a general audience	Fabien LABONDANCE
Research Engineer	Laurent KONDRATUK
Secreteriat	Laurence GUENON
Responsible of prevention	Catherine REFAIT-ALEXANDRE

The Director of CRESE is supported by a consulting body composed by: all permanent members; Two PhD students elected for the duration of their thesis (K haoula NAILI & M athilde STOLTZ).

Meetings of the consulting body: four every year and more if needed.