We introduce Indirect Robust Generalized Method of Moments (IRGMM), a new simulation-based estimation methodology, to model short-term interest rate processes. The primary advantage of IRGMM relative to classical estimators of the continuous-time short-rate diffusion processes is that it...

We explore an alternative to existing economic instruments to tackle climate change: carbon liabilities. Such liabilities would hold countries responsible for future climate damage to the tune of their emissions over time. The prospect of having to repay this carbon debt over time is enough to...

We explore an alternative to existing economic instruments to tackle climate change: carbon liabilities. Such liabilities would hold countries responsible for future climate damage to the tune of their emissions over time. The prospect of having to repay this carbon debt over time is enough to...

À l'approche du budget 2010-2011, le gouvernement du Québec devrait envisager de scinder en deux la taxe sur l'essence, d'avoir recours à des péages à tarifs modulés pour lutter contre la congestion routière et de rendre plus transparente l'utilisation des fonds perçus par l'imposition...