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Which predictor is the best to predict inflation in Europe: the real money-gap or a nominal money based indicator?
Dufrénot, Gilles; Joyeux, Roseline; Peguin-Feissolle, Anne - HAL - 2008
central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …
Persistent link: https://www.econbiz.de/10008793951
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The Contribution of Douglass North to New Institutional Economics
Ménard, Claude; Shirley Mary M. - HAL - 2011
Douglass North, along with Ronald Coase and Oliver Williamson, transformed the early intuitions of new institutional economics into powerful conceptual and analytical tools that spawned a robust base of empirical research. NIE arose in response to questions not well explained by standard...
Persistent link: https://www.econbiz.de/10010930236
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Appropriation, violent enforcement and transaction costs : a critical survey
Vahabi, Mehrdad - HAL - 2011
consistency to provide a cornerstone for political theory. …
Persistent link: https://www.econbiz.de/10009328154
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A New Institutional Approach of Resource Use Conflicts: The Case of Poitou-Charentes
Boutry, Ornella - HAL - 2010
transaction costs theory. Finally, we draw conclusions about the relative efficiency of the various governance institutions …
Persistent link: https://www.econbiz.de/10009401080
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Multivariate utility maximization with proportional transaction costs and random endowment
Benedetti, Giuseppe; Campi, Luciano - HAL - 2011
In this paper we deal with a utility maximization problem at finite horizon on a continuous-time market with conical (and time varying) constraints (particularly suited to model a currency market with proportional transaction costs). In particular, we extend the results in Campi and Owen (2011)...
Persistent link: https://www.econbiz.de/10009643221
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Hybrid Modes of Organization. Alliances, Joint Ventures, Networks, and Other 'Strange' Animals
Ménard, Claude - HAL - 2010
The central message conveyed in this chapter is that there is a whole class of economic organizations that contribute substantially to what Coase (1992) called "the institutional structure of production". These arrangements fall neither under pure market relationships nor within 'firm...
Persistent link: https://www.econbiz.de/10010750977
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Changements institutionnels et efficience de l'affrètement au voyage dans le transport fluvial de marchandises
Lendjel, Emeric; Fischman, Marianne - HAL - 2010
VNF (2010)'s statistical data show a remarkable resilience of inland navigation in France during the recession. Yet at least part of the profession is in crisis: the boatmen are now likely to be close to bankruptcy. Key players in the fully liberalized (since 2000) spot market, small independent...
Persistent link: https://www.econbiz.de/10010750989
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Is Public-Private Partnership Obsolete?
Ménard, Claude - HAL - 2011
Public-Private Partnership has been high on the agenda of public decision makers since the 1990's. Primarily a contractual approach to the delivery of infrastructures, goods and services traditionally provided by the public sector or by private operators submitted to tight regulation, PPP is...
Persistent link: https://www.econbiz.de/10010751003
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Contract Law and the self-enforcing range of contracts in agriculture.
Mazé, Armelle - HAL - 2005
The enforcement of contracts is necessary for efficient exchange in economic activities. The predominance in agriculture of informal contracts leads in many countries to the implementation of specific legal rules for contract law. This article emphasises the complementarities between public and...
Persistent link: https://www.econbiz.de/10010751014
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Approximate hedging problem with transaction costs in stochastic volatility markets
Nguyen, Huu Thai; Pergamenchtchikov, Serguei - HAL - 2012
This paper investigates the problem of hedging European call options using Leland's strategy in stochastic volatility markets with transaction costs. Introducing a new form for the enlarged volatility in Leland's algorithm, we establish a limit theorem and determine a convergence rate for the...
Persistent link: https://www.econbiz.de/10010821137