This paper provides an empirical analysis of the presence and determinants of the underwriting cycle in non-life insurance for France for the industry and for two individual lines which one long and one short for the period 1963-2004 and 1982-2004. First, the estimation of the AR(2) process of...

It has been shown that under perfect competition and constant returns-to-scale, a one-sector growth model may exhibit local indeterminacy when income tax rates are endogenously determined by a balanced-budget rule while government expendi- tures are fixed. This paper shows that the associated...

The lack of efficiency that characterized the economic policies of developing countries has prompted several economists to recommend a massive disengagement of the state of economic activity. Economic freedom is advanced as an alternative to development strategies more effective. Our work shows...

When capital markets are assumed to be (informationally) efficient and the firm a mere collection of marketable resources, corporate governance and accounting are expected to be primarily concerned with making corporate insiders sensitive to external pressure: financial reporting and the board...

First established during the 1830's, the Enskilda banks were characterized by unlimited liability and the right to issue bank notes. In Swedish banking history, these banks have been considered to be primitive relics. This paper utilizes new data to revise this picture. Issuing notes based on an...

The mimetism observed on financial market is often explained by an individual choice. These explanations do not consider social influences of norms, organization and institutions. We propose to analyze the social roots of financial imitation by considering decision done by mutual funds’...

Analyses of the transmission of money market rates to retail interest rates are a way to appreciate some effects of the monetary policy. The main question since Euro is the convergence of this transmission in the Euro zone. The aim of this study is to find likeness in evolutions and dynamics of...

This paper considers Stackelberg competition in a general equilibrium framework with production. The working of market power and the confi…gurations of strategic interactions are complexi…ed by the presence of an active leader. Two market price mechanisms are here studied: one is associated...

The aim of this paper is to identify how specific the increase of female labour market participation observed over the last fifteen years were to particular family statuses: mothers versus childless women, households with young children versus households with older children, mothers who had...