La nécessité d'offrir une couverture universelle pour les soins essentiels est une valeur généralement reconnue. Toutefois, les coûts de santé sont devenus une préoccupation majeure des gouvernements de l'OCDE. Les dépenses en santé augmentent plus rapidement que la richesse dans de...

In the absence of change to the income security system, more than 50% of workers moving toward retirement, with salaries on both sides of the median, will have to reduce significantly their standard of living. For the workers who rely strictly on the Old Age Pension and the Quebec Pension Plan,...

This report is part of a research project conducted by the University of Sherbrooke and the Center for Interuniversity Research and Analysis on Organizations (CIRANO). Its main purpose is to propose a framework agreement to govern the negotiation and conclusion of Product Listing Agreements...

We observe that a Pigovian climate policy need not exact full payment of the social cost of carbon upon emission to yield optimal incentives. Following this insight, we propose the creation of a carbon liabilities market to address climate change. Each period, countries would be made liable for...

Prior studies disagree regarding the effectiveness of financial literacy programs, especially those offered in the workplace. To explain such measurement differences in evaluation and outcomes, we employ a stochastic life cycle model with endogenous financial knowledge accumulation to...

We consider changes in the distribution of hourly compensation in Canada using confidential census data and the recent National Household Survey over the last three decades. We find that the coefficient of variation of wages among full-time workers has almost doubled between 1980 and 2010. The...

This paper extends the use of Rao (1982b)'s Quadratic Entropy (RQE) to modern portfolio theory. It argues that the RQE of a portfolio is a valid, exible and unifying approach to measuring portfolio diversification. The paper demonstrates that portfolio's RQE can encompass most existing measures,...

We provide an introductory review to the application of the theory of incentives under asymmetry of information to the exploitation and management of natural resources. We concentrate mostly on principalagent problems with adverse selection as posed by the regulation of nonrenewable resources,...

This paper studies the dynamic relationship between input and output of innovation in Dutch manufacturing using an unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum likelihood a dynamic panel data bivariate tobit with...