This paper addresses the macroeconomic impact of international financial integration. I first provide empirical evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with poor credit markets. Second I present a model in which...

In this paper, we use the segmented conditional ICAPM (International Capital Asset Pricing Model) to study the emerging stock markets integration. To address this issue, we apply the asymmetric multivariate version of GARCH-BEKK with structural break of the variance. It allows to specify the...

In the fresh produce long distance international trade, market intermediaries are still a key actor while modern retailers have little backward integrated into the import activity. Difficulty to negotiate a price at the FOB level, three or four weeks before fresh produce are consumed, leads...

The properties of WS-PS model are modified when trade activity is explicitly modelled. We introduce transaction costs on the output market to capture multiplicity whatever the degree of returns to scale. The price setting curve can become downward-sloping in the unemployment rate-real wage...

(VF)L'objectif de cet article est de proposer une analyse comparative fondée sur la théorie contractuelle des organisations de deux formes d'organisation concurrentes au sein du système français de l'enseignement de la gestion : les Grandes Ecoles de Gestion (de statut consulaire) et les...