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Political Ideology and Economic Growth in a Democracy : The French Experience, 1871 - 2009
Facchini, François; Melki, Mickaël - HAL - 2012
This paper examines the influence of political ideology on economic growth in the French democracy since 1871. It does so by addressing three main issues : the property and the reliability of a political ideology index in the long-run, the robustness of the relationship between ideology and...
Persistent link: https://www.econbiz.de/10010635028
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Innovation and information acquisition under time inconsistency and uncertainty
Chemarin, Sophie; Orset, Caroline - HAL - 2008
This paper analyzes the impact of hyperbolic discounting preferences on theagent's information acquisition decision who wants to undertake a potentialdangerous activity for human health or the environment. We find that belowcertain discount rate threshold, an agent prefers ignoring information...
Persistent link: https://www.econbiz.de/10008793771
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Learning Benevolent Leadership in a Heterogenous Agents Economy
Arifovic, Jasmina; Dawid, Herbert; Deissenberg, Christophe - HAL - 2008
This paper studies the potential commitment value of cheap talkinflation announcements in an agent-based dynamic extension of theKydland-Prescott model. In every period, the policy maker makesa non-binding inflation announcement before setting the actualinflation rate. It updates its decisions...
Persistent link: https://www.econbiz.de/10008794261
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Optimal allocation of wealth for two consuming agents sharing a portfolio
Mbodji, Oumar; Huu, Adrien Nguyen; Pirvu, Traian A. - HAL - 2014
We study the Merton problem of optimal consumption-investment for the case of two investors sharing a final wealth. The typical example would be a husband and wife sharing a portfolio looking to optimize the expected utility of consumption and final wealth. Each agent has different utility...
Persistent link: https://www.econbiz.de/10010899517
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Predatory Lending
Mendez, Rodrigue - HAL - 2012
This paper studies the equilibrium predatory practices that may arise when the borrowers have behavioral weaknesses. Rational lenders offer short term contracts that can be renewed at the cost of paying a penalty fee. We show how the optimal contracts depend on the degree of näıvet ́e of the...
Persistent link: https://www.econbiz.de/10010899756
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Income Inequality, Mobility, and the Accumulation of Capital: The Role of Heterogeneous Labor Productivity
García-Peñalosa, Cecilia; Turnovsky, Stephen J. - HAL - 2012
We examine the determinants of income inequality and mobility in a Ramsey model with elastic labor supply. Individuals …
Persistent link: https://www.econbiz.de/10010933912
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Education inequalities and the Kuznets curves: a global perspective since 1870
Morrisson, Christian; Murtin, Fabrice - HAL - 2007
level since 1870. Inequality in years of schooling is found to be rapidly decreasing, but we show that this result is … completely driven by the decline in illiteracy. Then, we turn to inequality in human capital and focus on a Mincerian production … capital inequality has increased since 1870, but does not exceed 10% of world income inequality. Next, we analyse the …
Persistent link: https://www.econbiz.de/10010930213
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Des figures et des chiffres : Analyse de Pour une révolution fiscale, de Landais, Piketty et Saez (2011)
Guiard, Yves - HAL - 2012
On the website of their recent book Pour une Revolution Fiscale, Landais, Piketty and Saez (2011) have provided the public with free access to all their quantitative data, inviting the readership to critically appraise and publicly discuss their work. Unfortunately, the book's graphical...
Persistent link: https://www.econbiz.de/10010535380
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Utilitarianism or Welfarism: Does it Make a Difference?
Gravel, Nicolas; Moyes, Patrick - HAL - 2011
We show that it is possible to reconcile the utilitarian and welfarist principles under the requirement of unanimity provided that the set of profiles over which the consensus is attained is rich enough. More precisely, we identify a closedness condition which, if satisfied by a class of...
Persistent link: https://www.econbiz.de/10009325716
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Who Really Benefits from Pension Systems?
Hachon, Christophe - HAL - 2008
A growing empirical literature shows that life expectancy depends on the wage level. Using an overlapping generations model with a small open economy, we explain why this result can change theredistributive properties of unfunded pension systems. We use the concept of "net contribution" to...
Persistent link: https://www.econbiz.de/10009643766