This paper examines the influence of local labor markets on individuals' social mobility during their working life. In France, over a period of six years, individuals working in dense areas and areas with abundant human capital are more likely to be promoted to a higher socioprofessional status...

The aim of this paper is to study the impact of the bankruptcy law on financing, investment, default and liquidation decisions of firms. We build a model in which the firm has the opportunity to get into debt to finance an investment whose return is stochastic. Shareholders and bondholders...