In this paper, we study the dynamics of legal convergence and the comparison between the different instruments of legal convergence based on cooperative strategies (i.e., harmonization and unification) or not. To study these questions we use a model with two nation-states which is inspired in...

In this paper, we study the dynamics of legal convergence and the comparison between the different instruments of legal convergence based on cooperative strategies (i.e., harmonization and unification) or not. To study these questions we use a model with two nation-states which is inspired in...

The literature on legal traditions focuses on the comparative macroeconomic effects of legal systems concentrating on efficiency alone and leaving distributive issues to taxation. However, the legal structure of a country also conditions the primary distribution of income and can have a...

The present paper proposes to interpret the differences in legal systems between common-law and civil- law nations as arising from the importance given to adjudication in comparison with statute laws. It focuses on the relative costs of legal change by adjudication (case law development) when...

In this paper, we consider a T-stage linear model of Stackelberg oligopoly. First, we show geometrically and analytically that under the two conditions of linear market demand and identical constant marginal costs, the T-stage Stackelberg model reduces to a model where T oligopolies exploit...

This paper considers a generalization of the Stackelberg model to cover a T‐stage framework with several leaders and followers who compete on quantities. Assuming a linear demand function and constant marginal costs, we introduce constant conjectural variations in order to capture various...

La Persistance de l'Inflation dans les Modèles Néo-Keynésiens, by Mohamed Safouane Ben Aïssa and Olivier Musy We derive the inflation dynamics implied by the different hypothesis on price adjustment existing in the New Keynesian litterature. We study the response of output and inflation in...

Nous décrivons les dynamiques de l'inflation issues des différentes hypothèses d'ajustement des prix rencontrées dans la littérature néo-keynésienne. Pour chaque modèle nous calculons la réponse de l'inflation et du produit suite à un choc sur le taux de croissance de la masse...

This paper analyses the impact of the disinflation policy timing on the sign and the magnitude of the sacrifice ratio in a modified price and wage staggered model of Blanchard (1986). When wages are updated every four quarters and prices every two quarters, we show that a “cold-turkey”...