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Economic analysis of the European cement industry

Boyer, Marcel; Ponssard, Jean-Pierre - HAL - 2013

We present a methodology to assess the profitability of a capital intensive industry over a business cycle and to make projections of profitability for different investment strategies under various hypothetical scenarios for environmental and competition policies. The methodology is applied to...

Persistent link: https://www.econbiz.de/10010821134

Evaluation of Nonlinear time-series models for real-time business cycle analysis of the Euro area

Billio, Monica; Ferrara, Laurent; Guegan, Dominique; … - HAL - 2009

models and assess their ability to detect in real-time recession signals. In this respect, we have built an historical …

Persistent link: https://www.econbiz.de/10010738487

Welfare Cost of Fluctuations: when Labor Market Search Interacts with Financial Frictions

Iliopulos, Eleni; Langot, François; Sopraseuth, Thepthida - HAL - 2014

We provide a quantitative assessment of welfare costs of fluctuations in a search model with financial frictions. The matching process in the labor market leads positive shocks to reduce unemployment less than negative shocks increase it. We show that the magnitude of this non-linearity is...

Persistent link: https://www.econbiz.de/10011025686

A Revision of the US Business- Cycles Chronology 1790–1928

Charles, Amélie; Darné, Olivier; Diebolt, Claude - HAL - 2011

This article extends earlier efforts at redating the US business cycles for the 1790–1928 period using the real Gross Domestic Product (GDP) constructed by Johnson and Williamson (2007). We compare the alternative chronology with those of the NBER and Davis (2006) as well as Romer (1994) for...

Persistent link: https://www.econbiz.de/10008855839

Trend shocks and business cycles in Sub Saharan Africa

Naoussi, Claude Francis; Tripier, Fabien - HAL - 2010

This article explores the role of trend shocks in explaining the specificities of business cycles in Sub-Saharan African (SSA) countries using the methodology introduced by Aguiar and Gopinath (2007) [Emerging Market Business Cycles: The Cycle Is the Trend Journal of Political Economy 115(1)]....

Persistent link: https://www.econbiz.de/10008793580

Bubbles and Incentives : An Experiment on Asset Markets

Robin, Stéphane; Straznicka, Katerina; Villeval, … - HAL - 2012

) ; ii) a short-term bonus treatment in which bonuses are assigned to the best performers at the end of each trading period … ; iii) a long-term bonus treatment in which bonuses are assigned to the best performers at the end of the 15 periods of the … severity, depending on the time horizon of bonuses. Markets with long-term bonus contracts experience lower price deviations …

Persistent link: https://www.econbiz.de/10010821481

Self-selection and the Efficiency of Tournaments

Eriksson, Tor; Teyssier, Sabrina; Villeval, Marie Claire - HAL - 2009

The literature has shown that the overall efficiency of exogenously imposed tournaments is reduced by a high variance in performance. This paper reports results from an experiment analyzing whether allowing subjects to self-select into different payment schemes is reducing the variability of...

Persistent link: https://www.econbiz.de/10009401083

Optimal Group Incentives with Social Preferences and Self-Selection

Teyssier, Sabrina - HAL - 2007

In this paper, we analyze group incentives when a proportion of agents feel in- equity aversion as defined by Fehr and Schmidt (1999). We define a separating equilibrium that explains the co-existence of multiple payment schemes in firms. We show that a tournament provides strong incentives to...

Persistent link: https://www.econbiz.de/10008788937

Experimental Evidence on Inequity Aversion and Self-Selection between Incentive Contracts

Teyssier, Sabrina - HAL - 2008

This paper reports on the results of an experiment testing whether the agents selfselect between a competitive payment scheme and a revenue-sharing scheme depending on their inequity aversion. Average efficiency should be increased when these payment schemes are endogenously chosen by agents. We...

Persistent link: https://www.econbiz.de/10008788967

Other-Regarding Preferences and Performance Pay – An Experiment on Incentives and Sorting

Eriksson, Tor; Villeval, Marie-Claire - HAL - 2004

Variable pay not only creates a link between pay and performance but may also help firms in attracting the more productive employees (Lazear 1986, 2000). However, due to lack of natural data, empirical analyses of the relative importance of the selection and incentive effects of pay schemes are...

Persistent link: https://www.econbiz.de/10008788998