This paper uses a fuzzy-fuzzy stochastic dominance approach to compare patients’ leakages in the Canadian and the U.S. health care systems. Leakages are defined in terms of individuals who are in bad health and could not have access to health care when needed. To carry his comparison we rely...

More and more economists and politicians are advocating the use of comprehensive measures of well-being, on top of the usual national accounting measures, to assess the welfare of populations. Researchers using subjective well-being data should be aware of the potential biasing effects of the...

This article develops a simple model using the economist's toolkit to analyze the mechanism of judicial proof. The survey focuses on the notions of burden of proof, legal presumptions, standard of proof, on legal procedure and on the judge's role during the proceedings. The rules of proof are...

This paper studies the impact of an European-like labor market regulation on the return to schooling, equilibrium unemployment and welfare. We show that firing costs and temporary employment have opposite effects on educational choices. We furthermore demonstrate that a laissez faire economy...

This paper documents that over the past 25 years, aggregate hourly real wages in the United States have become substantially more volatile relative to output. We use micro-data from the Current Population Survey (CPS) to show that this increase in relative volatility is predominantly due to...

We provide a new structural interpretation of the relationship between the slope of the term structure of interest rates and macroeconomic fundamentals. We first adopt an agnostic identification approach that allows us to identify the shocks that explain most of the movements in the slope. We...

This paper proposes tests for stochastic dominance in mobility based on the empirical likelihood ratio. Two views of mobility are considered, either based on measures of absolute mobility or on transition matrices. First-order and second-order dominance conditions in mobility are first derived,...

A dynamic computable general equilibrium model based on the PEP standard model developed by Decaluwé et al. (2009) is used to evaluate the impacts of the international crisis on the South African economy. However, we have changed some assumptions in order to better represent South African...

Assessments of social welfare do not usually take into account population sizes. This can lead to serious social evaluation flaws, particularly in contexts in which policies can affect demographic growth. We develop in this paper a little-known though ethically attractive approach to correcting...

Cash holdings as a proportion of total assets of U.S corporations have roughly doubled between 1971 and 2006. Prior research attributes the large cash increase to a rise in firms' idiosyncratic risk. We investigate two mechanisms by which increased idiosyncratic risk can lead to higher cash...