This paper contributes to the analysis of the effects of demand structure on longterm growth. Introducing non-homothetic preferences in an otherwise standard quality- model, we first show that disparities in purchasing power generate positive R&D investment by quality leaders. This result is...

We propose a model to analyze the conditions of emergence of a twin banking and sovereign debt crisis in a monetary union with an institutional framework which is broadly similar to the Eurozone at the onset of the financial crisis. We show that when the responsibility of rescuing the banking...

This paper aims at explaining how aid, trade and migration in developed nations are connected, in particular in times of economics crisis. It relates to a new strand of the aid allocation literature, which aims at determining how donors’ domestic policies and their political environment can...

Cet article développe un modèle intégrant le rôle de la monnaie et de l’IDE afin d’examiner la fragilité du système bancaire d’une petite économie ouverte dans un contexte de crise financière internationale. Le modèle met l’accent sur les décalages de maturité et de devise au...

We suggest a model of innovation and diffusion of a new technology in which two firms, one innovative and one non-innovative, undertake risky activities that are regulated by liability rules. One originality of this study is to consider the presence of a “double-impact” innovation, impacting...

Most Western economists and policymakers agree that the Yuan is significantly undervalued and push for its quick nominal revaluation. This paper defends that many domestic and foreign factors could be responsible for the Yuan’s undervaluation, and the People’s bank of China (PBC) cannot...

La sous-évaluation du yuan fait partie du consensus des économistes et des décideurs de politique. La demande pressante des pays occidentaux pour une réévaluation nominale brutale du yuan ne prend pas en compte l’intérêt des entreprises (occidentales et chinoises) et des salariés...