The sovereign debt literature emphasizes the possibility of avoiding a self-fulfilling default crisis if markets anticipate the central bank to act as lender of last resort. This paper investigates the extent to which changes in belief about an intervention of the European Central Bank (ECB) explain...

Part 2: Data Management and Applications for EIS International audience Cloud computing provide an efficient big data processing platform for many small and medium scale enterprises, how to replicate and allocate data in clouds is a critical problem influencing cost consumption for small and medium...

Regulation models are a special class of contract models that have received a lot of attention from economists in the last few decades. This continuous interest has been motivated by an increasing need in designing regulatory policies in a world where decentralization and delegation of public servic...

The practice of intercultural communication should be a primary goal of Language for Specific Purposes (LSP) courses in tertiary education, because, through language instruction, future professionals can become aware of intercultural differences and develop strategies to deal with them, thus equippi...

Abstract: The notion of growth is one of the most studied notions within economic theory and, traditionally, it is accounted for based on a positivist thesis according to which assumptions are not relevant, if economic models have acceptable predictive power. Following this view, it does not matter...

This book combines the human development approach and innovation economics in order to explore the effects that structural economic change has on human development. The author discusses how innovation, social networks, economic dynamics and human development are interlinked, and provides several pra...

International audience

International audience In a model where agents have unequal skills and heterogeneous preferences about consumption goods and leisure, this paper studies how to combine commodity taxes and non-linear income tax. It proposes a particular social welfare function on the basis of fairness principles. It...

Chapitre 2

Except for specialized resource economics models, economics pays little attention to the role of energy in growth. This paper highlights basic difficulties behind the mainstream analytical arguments for this neglect, and provides an empirical reassessment of this role. We use an error correction mod...

We propose a simple quantitative method to linearize around the risky steady state of a small open economy. Unlike when the deterministic steady state is used, the net foreign asset position is well defined. We allow for stochastic income and stochastic interest rate.

International audience

International audience Early access schemes for pharmaceuticals have been increasingly implemented worldwide with the objective of satisfying unmet medical needs or facilitating market access for certain innovative drugs. It allows for pharmaceuticals which have not yet obtained their marketing auth...

International audience

peer reviewed

The wine industry contributes to the economy and reputation of many countries all over the world. This sector is likely to be particularly affected, given its extreme sensitivity to any change in climate patterns. This article tries to discover if scientific knowledge has led to recommendations, and...

Inspired by the neo-institutional approach, our research program sets for itself the task of contributing to the emergence of a dynamic analysis of coordination mechanisms in which institutions play a key role. Borrowing the Davis's and North's (1971, pp. 6-7) distinction between the “institutional...

International audience

Social oversight and regulation of entrepreneurial and commercial activities have always involved an unbalanced three-way competition for influence between the State, the business world (companies and their institutional representatives) and consumers. This struggle is growing more intense in a mark...

International audience Traditional beta is only a linear measure of overall market risk and places equal emphasis on upside and downside risks, but actually the latter is always much stronger probably due to the trading mechanism like short-sale constraints. Therefore, this paper employs the nonline...

International audience

International audience This paper focuses on the impact of property rights insecurity on deforestation in the Brazilian Legal Amazon. Deforestation is considered as a risk management strategy: property rights insecurity reduces the present value of forests and fosters forest conversion into agricult...

This paper studies the design of health insurance with ex post moral hazard, when there is imperfect competition in the market for the medical product. Various scenarios, such as monopoly pricing, price negotiation or horizontal differentiation are considered. The insurance contract specifies two ty...

International audience Moral vitalism refers to a tendency to view good and evil as actual forces that can influence people and events. The Moral Vitalism Scale had been designed to assess moral vitalism in a brief survey form. Previous studies established the reliability and validity of the scale i...