Discounted-cash-flow (DCF) techniques form the basis of most corporate-investment decisions. Many practitioners, however, claim to be dissatisfied with traditional methods of appraisal. In this paper, we survey DCF and more recent methods of evaluating cyclical projects.

Cet article etudie la question des permis de pollution dans le cadre d'un modele a generations imbriquees: la pollution resulte de l'utilisation de l'environnement dans le processus de production et constitue un externalite negative qui vient diminuer l'utilite des agents.

The debate about whether culture should be subsidized or not is far from being recent, and though problems and approaches vary across countries, most governments are in favour of supporting the arts in one way or the other. The literature considers several arguments in favour of such subsidies....

We study time-consistent labor and capital income linear taxation using an infinite-horizon overlapping generations model of a small open economy. In dividuals have different productivities and the government intervenes for purely redistributive purposes. The study of time-consistent taxation...

We derive the asymptotic sampling distribution of various estimators frequently used to order distributions in terms of poverty, welfare and inequality. This includes estimators of most of the poverty indices currently in use, as well as estimators of the curves used to infer stochastic...

Dans un modele a deux periodes on peut considerer que l'aide a l'etranger peut-etre definie soit en terme d'un bien a consommer soit en terme de controle des naissances. La taille de la population en deuxieme periode est endogene. Nous examinons l'affectation optimale de cette ressource rare en...

Dans l'ouvrage que Van Parijs a consacre en 1995 aux fondements philosophiques et economiques du projet d'allocation universelle, le chapitre IV est dedie au probleme du financement "soutenable" d'une telle mesure. Les "rentes associees aux emplois" y sont presentees comme un troisieme type de...

This paper shows that, in a partially welfarist framework that permits discounting, per-period social evaluations can be consistent with a timeless social ordering only if social principles lead to the repugnant conclusion. The same result applies if per-period social evaluations are replaced by...