Barro's model is an AK model, and there cannot be dynamic inefficiency since the social yield of the capital is higher than the growth rate. But it may be that the private yield and thus the interest rate are lower than the growth rate. One can thus have a Ponzi game and the government can allow...

The dynamic behavior of the capital growth rate is analyzed using an overlapping-generations model with continuous trading. Assuming a technology satisfying constant social returns to capital, the equilibrium growth rate is piecewise-defined by functional differential equations with both delayed...

Noël, Pâques, l'Epiphanie, la Toussaint, la Saint Nicolas, etc., le marché a depuis longtemps ajusté son offre au rythme des fêtes religieuses catholiques en France et dans bon nombre de pays occidentaux. Pourtant, l'émergence de l'islam comme deuxième religion de France soulève de...

Ce mémoire traite de la communication interne sous un angle assez opérationnel. La problématique étant : "l'optimisation de la communication interne descendante à destination des managers au regard des nouveaux enjeux de celle-ci et l'entreprise : quels leviers d'amélioration ?", il va...

Abstract We empirically examine whether the way a bank might use loan loss provisions to smooth its income is in‡uenced by its ownership concentration and the regulatory environment. Using a panel of European commercial banks, we find evidence that banks with more concentrated ownership use...

L'activité projet incarne dans une certaine littérature managériale le mythe de l'action heureuse. Investissez vous au travail ! Epanouissez vous en projet ! Mais le projet n'est-il pas aussi destructeur de sens, porteur de pathologies et de déstabilisations ? En entreprise, les projets sont...

This paper extends the analytical valuation of options on the maximum or the minimum of several risky assets in several directions. The first extension consists in including more assets in the payoff and making the latter more flexible by adding knock-in and knock-out provisions. The second...

A common problem in applied regression analysis is that covariate values may be missing for some observations but imputed values may be available. This situation generates a trade-off between bias and precision: the complete cases are often disarmingly few, but replacing the missing observations...

This paper uses the recent Services Trade Restrictions Database and the Services Trade Restrictons Index provided by the World Bank to assess the specific impact of Mode 1 regulation on crossborder services trade. The article follows an augmented gravitational model to evaluate the determinents...

Ce texte interroge les vertus et les limites des concours nationaux de recrutement dans la haute fonction publique, valorisés comme garantissant à la fois l'intérêt général, en sélectionnant les plus qualifiés, et l'intérêt particulier, en assurant un jugement sur le mérite. Nous...