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When the payment mode affects the quality of advices. Financial analysts, fund managers, and brokerage commissions

Galanti, Sébastien - HAL - 2008

"Sell-side"analysts advise fund managers with recommendations to buy or sell a stock. But being compensated with commissions proportional to the amount traded can drive the analyst to bias his advice. In a two-agent model, it is notably shown that the probability of a biased equilibrium to occur...

Persistent link: https://www.econbiz.de/10008790771

Struggle over joint audit: on behalf of public interest?

Lesage, Cédric; Ratzinger, Sabine; Kettunen, Jaana - HAL - 2012

2005. We test the impact of joint audit on both audit costs proxied by audit fees or total fees and audit quality proxied … by abnormal accruals. Our results confirm 1) the non-significance association between fees (either audit fees or total … fees) and joint audit, and 2) the non-significance association between abnormal accrual and joint audit. We then apply the …

Persistent link: https://www.econbiz.de/10010898721

The network structure of mutual support links: Evidence from rural Tanzania

Comola, Margherita - HAL - 2010

This paper takes a network perspective t oinvestigate how rural households in developing countries form the links through which they provide and get economic support. I test the hypothesis that indirect contacts (e.g. friends of friends) matter for link formation. An estimation procedure of a...

Persistent link: https://www.econbiz.de/10010738748

On-the-job Search, Productivity Shocks, and the Individual Earnings Process

Postel-Vinay, Fabien; Turon, Hélène - HAL - 2005

Individual labor earnings observed in worker panel data have complex, highly persistent dynamics. We investigate the capacity of a structural job search model with i.i.d. productivity shocks to replicate salient properties of these dynamics, such as the covariance structure of earnings, the...

Persistent link: https://www.econbiz.de/10010738852

The empirics of economic geography: How to draw policy implications?

Combes, Pierre-Philippe - HAL - 2010

Using both reduced-form and structural approaches, the spectrum of policy recommendations that can be drawn from empirical economic geography is pretty large. Reduced-form approaches allow the researchers to consider many variables that impact on regional disparities, as long as they are careful...

Persistent link: https://www.econbiz.de/10008793664

The Identification of Agglomeration Economies

Combes, Pierre-Philippe; Duranton, Gilles; Gobillon, Laurent - HAL - 2010

Measures of urban productivity are typically positively associated with city population. But is this relationship causal? We discuss the main sources of bias in the proper identification of agglomeration effects. We also assess a variety of solutions that have been proposed in the literature to...

Persistent link: https://www.econbiz.de/10008794162

DINKs, DEWKs & Co. Marriage, Fertility and Childlessness in the United States

Baudin, Thomas; Croix, David De La; Gobbi, Paula - HAL - 2012

We develop a theory of marriage and fertility, distinguishing the choice to have children from the choice of the number of children. The deep param eters of the model are identified from the 1990 US Census. We measure voluntary and involuntary childless-ness, and explain why (1) single women are...

Persistent link: https://www.econbiz.de/10010899686

Marriage with Labor Supply

Jacquemet, Nicolas; Robin, Jean-Marc - HAL - 2011

We propose a search-matching model of the marriage market that extends Shimer and Smith (2000) to allow for labor supply. We characterize the steady-state equilibrium when exogenous divorce is the only source of risk. The estimated matching probabilities that can be derived from the steady-state...

Persistent link: https://www.econbiz.de/10010635121

Eco-labelling, competition and environment: Endogenization of labelling criteria

Youssef, Adel Ben; Lahmandi-Ayed, Rim - HAL - 2008

This paper suggests a modelling of the labelling procedure consistent with empirical observations, that allows the endogenous calculation of labelling criteria. The authority in charge of the labelling program chooses the level of labelling criteria so as to maximise the social surplus,...

Persistent link: https://www.econbiz.de/10010736426

Raising capital in an insurance oligopoly market

Hardelin, Julien; Forges, Sabine Lemoyne De - HAL - 2009

We consider an oligopoly of firms that compete on price. Firms produce a non-stochastic output, insurance coverage, which is sold before the true cost is known. They behave as if they were risk-averse for a standard reason of costly external finance. The model consists in a two-stage game. At...

Persistent link: https://www.econbiz.de/10008794110