SMEs have a great contribution in China’s economic expansion. However, the financing predicament currently faced by SMEs constitutes a great bottleneck for their development. Banks are reluctant to lend to them, mainly due to the lack of collateral and their poor capability in pricing risk....

This paper proposes a system of tradable deficit permits for implementing budgetary austerity at the local level. We evaluate the efficiency of the fiscal retrenchment allocation in a dynamic setting with a commitment problem. The way rights are allcated and traded on the market turns out to be...

Cet article présente les résultats d’une méta-analyse dont le but est d’étudier les facteurs influençant les évaluations monétaires du coût externe des installations de traitement des déchets. Les décharges et les incinérateurs sont sources de nuisances importantes qui expliquent...

Two factors play a decisive role in the structuring of Internet based markets for infomediation (informational intermediation) : network externalities and information processing. First, these are examined separately. The two-sided markets literature focuses on the impact of network externalities...

We built an original database of flow of funds financial accounts in order to assess the final destination of households' financial wealth. Our method based on matrix calculation stepwise makes all financial intermediaries transparent. We reject the usual dichotomy between bankand market-based...

This paper considers whether there has been an increase in mobility in the French labour market over the past 60 years. We use data on 6618 careers from a French survey called Histoire de vie – Construction des identités (INSEE). We find a small increase in mobility mainly due to the...

This paper examines how the viability approach can be used to define sustainability goals. In an economic model with a non renewable natural resource, we define minimal rights to be guaranteed for all generations. These rights can include a minimal consumption (economic goal) and the...

This text proposes to address the issue of the arbitrariness of decision-making, by using the concept of convention. We use the analytical framework of the (French) Conventions economics to define convention as an “interpretation scheme” We show the role of the representations, in the...

The purpose of the article is to analyse the consequences of the constraint of shareholder value on the wage level and equilibrium unemployment rate. We will relate the new program of maximization of the firm, as well as the one of the trade union. We obtain an increase of the unemployment rate...

This article aims at characterizing the daily price fundamentals of European Union Allowances (EUAs) traded since 2005 as part of the Emissions Trading Scheme (ETS). First, the presence of two structural changes on April, 2006 following the disclosure of 2005 verified emissions and on October,...