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.

This paper examines the pattern of capital mobility in a two-country overlapping generations world in which production uses three inputs capital, labor and land. The steady-state welfare consequences of opening countries to financial capital or labor mobility are then compared. In particular, it...

Nous montrons dans cet article que les contraintes de salaire minimum legal peuvent exercer des influences favorables sans qu'il soit necessaire de faire reference a des externalites. Plus precisement, si l'economie concurrentielle admet plusieurs equilibres stationnaires, il existe toujours un...

This paper studies the equilibrium dynamics of an overlapping generations model with capital, money and cash-in-advance constraints. At each date the economy can experience two different regimes. In the first one the cash-in-advance constraint is binding and money is a dominated asset. In the...

This note presents a model in which pension funds, by holding a significant share of capital assets, can exert a non competitive behavior on labor market. This leads to lower wages and higher capital returns, and can reduce capital accumulation and long-run welfare.

This paper studies the equilibrium dynamics of an overlapping generations model with capital, money and cash-in-advance constraints. At each date the economy can experience two different regimes. In the first one the cash-in-advance constraint is binding and money is a dominated asset. In the...

The preemptive role of capital is analysed in a class of two-player symmetric capital accumulation differential games with reversible investment. It is proved that, in the medium run, the firm with better initial condition exploits its advantage when the game features feedback substituability....

En utilisant le modele du Principal-Agent pour decrire la relation qui peut s'etablir entre un trafiquant ou un membre d'une organisation criminelle et un organisme financier, nous montrons qu'il existe des incitations economiques a l'etablissement d'une negociation entre eux pour fixer les...

This paper provides necessary and sufficient conditions for input (or output) aggregation of efficiency indices. As such it parallels earlier arguments in the capital aggregation literature. The resulting quantity-dependent indices provide a rationalisation of the Debreu/Farrell efficiency...