There have been increasing warnings lately that the world economy is in danger of disintegrating. How realistic are such fears? Could the world's trading partners have a serious interest in such a development and be prepared to accept the risks involved? The following three articles seek to...

The aim of our paper is to price credit derivatives written on a single name when this name is a bank. Indeed, due to the special structure of the balance sheet of a bank and to the interconnections with other institutions of the financial system, the standard pricing formulas do not apply and...

The purpose of this paper is to show how a better understanding of the role played by technology in the decision–making process of a business changes our conception of the nature of the firm. According to the role played by technology in decision–making, the author distinguishes five grades...

Menopausal osteoporosis has many consequences for women over 50. Its complications incur high treatment costs both for society and the patients themselves. Collection of the epidemiological data required for a cost analysis of menopause-related osteoporosis is not easy, but we have calculated...

Since the end of the apartheid regime, the number of advertisements casting actors from different racial backgrounds simultaneously has significantly increased. Comments about this development are multi-faceted. While some observers praise this technique as the ideal social mirror of the...

Discusses the recent crisis in educational planning, proposing the adoption of business models for educational management. Describes ways to apply this approach to education policy. Identifies the problems of education, and suggests guidelines for change in educational policy.

This thesis contributes to the analysis and measure of systemic risk through four chapters. In the first chapter, we discuss the notion of systemic risk and detail the methodological issues of modeling. The second chapter proposes a structural model of solvency contagion. Within an equilibrium...