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...

While there has been intense debate in the empirical literature about the effects of minimum wages on inequality in the US, its general equilibrium effects have been given little attention. In order to quantify the full effects of a decreasing minimum wage on inequality, I build a dynamic...

Using aggregate data on bilateral cross-border equity holdings, we investigate whether investors correctly hedge their over-exposure to domestic risk (the well-known equity home bias) by investing in foreign stock markets that have low correlation with their home stock market. To deal with the...

L’agriculture mondiale est parvenue, au cours des décennies passées, à nourrir une population mondiale en forte croissance ; elle a également fourni des quantités croissantes de matières premières industrielles. Mais, alors même que l’essor de la population mondiale ralentit,...

L’oeuvre de Maurice Allais est abondante et protéiforme. Elle comporte des travaux d’économie théorique et d’économie appliquée comme des ouvrages de politique économique. Dans les années 1940, il établit rigoureusement les fondements de la théorie microéconomique néo-classique....

We calculate the bias of the profile score for the autoregressive parameters p and covariate slopes in the linear model for N x T panel data with p lags of the dependent variable, exogenous covariates, fixed effects, and unrestricted initial observations. The bias is a vector of multivariate...

I challenge the existing literature that claims that strongly biased technology is necessary to observe a simultaneous increases in the skill supply and the skill premium. I highlight the importance of the joint determination of the direction of technical change and skill formation, as there is...

The economic situation of all the major developed countries has changed significantly during the 2007-2010 period. Yet many economic policies have been kept in place. This is true in particular of a key measure in French government policy: tax reductions on overtime hours and their exemption...

The main goal of this paper is to assess empirically to which extent the volatility of production is due to activities of firms under foreign ownership. Following Bergin et al. (2009) and Levasseur (2010), we postulate that multinational firms can use their contractors and their sites of...

Departing from mainstream economics, surveys …rst show that individuals do care about fairness in their demand for redistribution. They also show that the cultural environment in which individuals grow up a¤ects heir preferences about redistribution. Including these two components of the...