The widespread evidence of multiple bank lending relationships in credit markets suggests that firms are interested in setting up a diversity of banking links.However, it is hard to know from the empirical data whether a firm's observed number of lenders is symptomatic of financial constraints...

We present a computational model of consumer behavior. Consumers possess expectation-based reference-dependent preferences and are disappointment averse. They interact with each other on static social network. They exchange and update their beliefs about the quality of the product. Individual...

Vingt ans après la Conférence de Rio (1992) un constat d’échec s’impose à tous sur le front de la lutte contre les changements climatiques induits par l’activité humaine. Nous ne pourrons pas échapper à un dérèglement grave du climat,en partie déjà amorcé, si nous continuons de...

This article provides an assessment of labour market adjustments occurring in Estonia during the global crisis. As part of the so-called internal devaluation, the strategy followed was very successful in shrinking the unit labour costs, thus helping Estonian enterprises to gain international...

In most industrial countries, while the calculation of pension bene?ts is progressive, public pension systems redistribute weakly from high to low- income earners. They are close to actuarial fairness. This statement results from the following speci?city: less paid jobs are also heavier and...

Existing studies show that individuals who retire replace some private consumption by home production, but do not consider joint behaviour of couples. Here we analyze the causal effect of retirement of each partner on hours of home production of both partners in a couple. Our identification...

Le financement de la protection sociale s’est diversifié depuis le début des années 1980, mais la part des cotisations sociales reste toujours prédominante. Surtout destinée à mobiliser des ressources supplémentaires, cette diversification a été concentrée sur certains risques, avec...

Focusing on a set of central banks that publish their internal macroeconomic forecasts in real time enables one to shed light on the expectations channel of monetary policy. The main contribution of this paper is to assess whether central bank forecasts influence private forecasts. The response...