In a Constant Proportion Portfolio Insurance (CPPI) framework, a constant risk exposure is defined by the multiple of the strategy. This article proposes an alternative conditional multiple estimation model, which is based on an autoregressive quantile regression dynamic approach. We estimate...

In this paper, we review the macroeconomic literature on financial frictions and banking in a dynamic general equilibrium framework. Our work focuses first on the pioneer articles that have analyzed the amplification effects associated to the financial accelerator. We then shift our attention...

In this paper, we provide a theoretical framework for exploring the consequences of neighborhood informational effects - identified as role models - so as to deduce the urban configuration. With this aim, we have developed an overlapping generations model of community formation. When young, an...