Showing 1 - 10 of 44
'égouts, etc.) font face à de sérieux problèmes dans leur transition vers la concurrence. Dans cet article, je rappelle d …'abord quelques faits et principes avant de discuter des procédures par lesquelles la concurrence peut être introduite, à savoir les … soulevées dans la recherche d'une approche efficace à la transition vers la concurrence. Je poursuis avec la présentation d …
Persistent link: https://www.econbiz.de/10005100578
We construct a model to show that active financial intermediation can induce economic fluctuations. We embed a financial sector in a simple overlapping generation model with a single stock of capital. Individuals are risk averse agents that face idiosyncratic risks in their business activities:...
Persistent link: https://www.econbiz.de/10005100606
This paper characterizes the optimal insurance contract in an environment where an informed agent can misrepresent the state of the world to a principal who cannot credibly commit to an auditing strategy. Because the principal cannot commit, the optimal strategy of the agent is not to tell the...
Persistent link: https://www.econbiz.de/10005101113
This paper examines the role of institutions (including civil law origin), financial deepening and degree of regime authority on growth rates in the Middle East and North Africa (MENA) region using panel data through a fixed effect model. The results reveal that English civil law origin and...
Persistent link: https://www.econbiz.de/10011183770
réglementation price-cap dans les contextes d'information complète, favoriser la réglementation price-cap avec concurrence balisée … réglementation incitative avec concurrence balisée dans les contextes d'information incomplète où l'existence de rentes …
Persistent link: https://www.econbiz.de/10005079375
This paper examines how different rules for presentation of evidence affect verdicts in regulatory hearings and the welfare and efficiency properties these procedures exhibit. The hearing is modeled as a game of imperfect information in which the respondent is privately informed about validity...
Persistent link: https://www.econbiz.de/10005100618
firment se livrent une concurrence à la Cournot. Le gouvernement propose une règle de taxation pour corriger à la fois l …'effet de la concurrence imparfaite et l'externalité négative due aux émissions de pollution. On montre qu'il existe une règle …
Persistent link: https://www.econbiz.de/10005100683
Economists have greatly criticized regulations that impose uniform environmental standards on plants which may differ in terms both of their marginal abatement cost and marginal damage functions. Such a critic ignores however that the implementation of the standards may vary significantly across...
Persistent link: https://www.econbiz.de/10005100854
We address in this paper the problem of comparing and choosing among different policy instruments to implement the incentive objective of an efficient deterrence of environmental degradation and the remedy objective of an efficient clean-up of damages and a proper compensation of victims. Two...
Persistent link: https://www.econbiz.de/10005101101
We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We analyze two cases: regulatory approval is valid forever or it expires after some time. We apply our model to Hydro Québec's...
Persistent link: https://www.econbiz.de/10005169015