We study the problem of an inventor who brings to the market an innovation that can be legally copied. Imitators may 'enter' the market by copying the innovation at a cost or by buying from the inventor the knowledge necessary to reproduce and use the invention. The possibility of contracting...

This paper investigates the relative importance of fairness preferences, risk aversion, and selfinterest in determining support for redistribution. We present evidence from a series of laboratory experiments in which a large number of subjects choose the level of redistributive taxation to be...

Au moment où l’Europe s’apprête à faire du développement durable l’élément central de sa stratégie de croissance pour la prochaine décennie, une réflexion sur l’efficacité de la stratégie européenne contre le changement climatique semble opportune. Certes l’Union...

The first decade of Eurozone economic policy is marked by complacency, passivity and ultimately failure, as seen by Eloi Laurent.

In a cross-section of countries, government regulation is strongly negatively correlated with social capital. We document this correlation, and present a model explaining it. In the model, distrust creates public demand for regulation, while regulation in turn discourages social capital...

Après le choc récessif survenu au tournant de 2008 et de 2009, les économies du monde paraissent enfin avoir stoppé l’effondrement de leur activité. La croissance pourrait être consolidée au cours de la seconde partie de l’année 2009, notamment grâce à la normalisation de la...

Services providers are busy re-designing their strategies to cope with the global economic crisis. In order to take the right decisions, they need clarity and predictability on future market access in services. Meanwhile, consumers impoverished by the current crisis would greatly benefit from...

Les constats et hypothèses d’évolution du modèle français ont montré que son avenir était fortement conditionné par l’avenir de l’Europe.

One year after the collapse of Lehman Brothers and three years after the start of the food and commodities crisis, time seems ripe to make a provisional assessment of the resilience of the open trade policies to this severe downturn, and to draw the main lessons. In attempting to answer this...

Wage determination under asymmetric information generates ine¢ ciencies due to excess turnover. Severance pay and layo¤ taxes can improve e¢ ciency. We show that inefficient separations can even be fully removed with …xed separation taxes in the case where therelevant private information is...