It has become accepted doctrine among economists that the rate of profit in the United States has declined since the mid-1960s. What is less a matter of agreement is whether this decline represents a stage in a long-term secular decline. In a recent article Dumenil, Glick, and Rangel (1987)...

[fre] Les systèmes de prix de production fondés sur le formalisme des productions jointes posent encore aux économistes de nombreux problèmes. On sait que, dans ces hypothèses, les prix et les valeurs auxquels conduit la résolution des équations, ne sont pas nécessairement positifs. Dans...

We study the causal link between house prices and current accounts. Across time and countries, we find a very large and significant impact of house prices on current accounts. In order to rule out endogeneity concerns, we instrument house prices for a panel of countries, using property tax...

This paper demonstrates that geography matters to the effectiveness of place-based policies, using the French enterprise zone program as a case study. Using a series of indicators of spatial isolation for treated and non treated neighborhoods, we show that geographical heterogeneity determines...

This article suggests the new approach to an approximation of nonlinear DSGE models moments. This approach is fast and accurate enough to use it for an estimation of nonlinear DSGE models. The small financial DSGE model is repeatedly estimated by several modifications of suggested approach....

This paper is about child fostering in Senegal, a practice widespread in Sub-Saharan Africa whereby children are temporarily sent to live with a host family. Using a rich household survey conducted in Senegal in 2006-7, the paper aims at describing the selection into fostering of both households...

This paper estimates the causal effect of perceived job insecurity – i.e. the fear of involuntary job loss – on health in a sample of men from 22 European countries. We rely on an original instrumental variable approach based on the idea that workers perceive greater job security in...

We study the effects of admission into elite public high schools in Mexico City on students' expected earnings, arguing these effects provide an indication of the value-added those schools produce. Using data for the centralized and exam-based allocation of students into schools and an adapted...

We extend the standard Smets-Wouters (2007) medium-sized DSGE model in two directions, namely to analyse the effects of news and the Keynesian multiplier, and secondly to incorporate a fiscal policy rule. We show that both the news channel and the government spending fiscal policy rule...