The Indian economy began its liberalization process in 1991 under the structural adjustment program of the IMF and the World Bank. The structural adjustment program required India to deregulate in a phased manner, eliminate the license regime and to open its economy to foreign capital. With the...

At the end of the nineties, many developing countries featured an open capital market and relied heavily on dollar-debt financing of their economy. This paper analyses whether, in this context, clean floating can be a sustainable policy choice. The model is cast as a game between successive...

This research paper examines four cases of teaching innovation that have been used mostly in France and that make an intensive use of multimedia techniques. The proposed approach calls for the use of different multimedia tools to overcome some of the shortcomings of current teaching methods, as...

This paper analyses the European Central Bank (ECB) monetary policy over the period 1999-2005, both from a qualitative and a quantitative perspective, and compares it with the Federal Reserve Bank. The qualitative approach builds on information conveyed by various speeches of the central bank...

The paper develops a simple model of the market for academic publications in business and economics. The supply of papers is presented as the outcome of a game between researchers and schools’ deans under imperfect information about the quality of a given paper. The demand for papers brings...

Continental European countries used to finance defence firms with public money. In the last few years, many governments aimed at implementing a hands-off policy towards the defence sector, which implies a gradual transition from public to private funding. This paper argues that the absence of...

Merging -or separating- real estate patrimony taxation and local taxation is still a debate in France. How much of these fiscal resources should be allocated to the State and how much should be channeled to local decision bodies? This research document expresses an overview of the 1994 to 2000...

Drawing on the concept of « trial », developed by French sociologists, this article analyzes the dynamics of employees’ performance evaluation systems, particularly those involving accounting performance measures. A case study is presented as an illustration of our proposal to consider these...

This paper presents a family of processes to model electricity spot prices in deregulated markets. Besides mean-reversion, a property they share with other comodities, power prices exhibit the unique feature of spikes in trajectories. We introduce a class of discontinuous processes exhibiting a...

This paper studies a dynamic equilibrium with small fixed transactions costs. We consider an overlapping generations economy with two assets of different liquidity. Trading the liquid asset does not involve transactions costs while trading the illiquid asset requires a fixed transaction fee....