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Keynesian hospitals? Public employment and political pressure
Clark, Andrew E.; Milcent, Carine - HAL - 2008
This paper uses an unusual administrative dataset covering the universe of French hospitals to consider hospital … employment: this is consistently higher in public hospitals than in Not-For-Profit or private hospitals, even controlling for …-hospital employment is positively correlated with the local unemployment rate, whereas no relationship is found in non-Public hospitals …
Persistent link: https://www.econbiz.de/10010738804
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Public Employment and Political Pressure: The Case of French Hospitals
Clark, Andrew E.; Milcent, Carine - HAL - 2011
This paper uses an unusual administrative dataset covering the universe of French hospitals to consider hospital … employment: this is consistently higher in public hospitals than in not-for-profit (NFP) or private hospitals, even controlling … for a number of measures of hospital output. NFP hospitals serve as a benchmark, being very similar to public hospitals …
Persistent link: https://www.econbiz.de/10010821022
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Track wear-and-tear cost by traffic class: Functional form, zero output levels and marginal cost pricing recovery on the French rail network
Gaudry, Marc; Quinet, Emile - HAL - 2009
We address the issue of the allocation of railway track maintenance (wear-and-tear) costs to traffic output classes and consider a very general function relating maintenance cost C to a set of technical production characteristics K used to produce traffic output vector T. We neglect other rail...
Persistent link: https://www.econbiz.de/10010738958
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Preliminary remarks on option pricing and dynamic hedging
Fliess, Michel; Join, Cédric - HAL - 2012
An elementary arbitrage principle and the existence of trends in financial time series, which is based on a theorem published in 1995 by P. Cartier and Y. Perrin, lead to a new understanding of option pricing and dynamic hedging. Intricate problems related to violent behaviors of the underlying,...
Persistent link: https://www.econbiz.de/10010551681
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Is a probabilistic modeling really useful in financial engineering? --- A-t-on vraiment besoin d'un modèle probabiliste en ingénierie financière ?
Fliess, Michel; Join, Cédric; Hatt, Frédéric - HAL - 2011
A new standpoint on financial time series, without the use of any mathematical model and of probabilistic tools, yields not only a rigorous approach of trends and volatility, but also efficient calculations which were already successfully applied in automatic control and in signal processing. It...
Persistent link: https://www.econbiz.de/10008924910
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Time Series Technical Analysis via New Fast Estimation Methods: A Preliminary Study in Mathematical Finance
Fliess, Michel; Join, Cédric - HAL - 2008
New fast estimation methods stemming from control theory lead to a fresh look at time series, which bears some resemblance to "technical analysis". The results are applied to a typical object of financial engineering, namely the forecast of foreign exchange rates, via a "model-free" setting,...
Persistent link: https://www.econbiz.de/10008791958
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Towards New Technical Indicators for Trading Systems and Risk Management
Fliess, Michel; Join, Cédric - HAL - 2009
We derive two new technical indicators for trading systems and risk management. They stem from trends in time series, the existence of which has been recently mathematically demonstrated by the same authors (A mathematical proof of the existence of trends in financial time series, Proc. Int....
Persistent link: https://www.econbiz.de/10008792384
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Volatility made observable at last
Fliess, Michel; Join, Cédric; Hatt, Frédéric - HAL - 2011
The Cartier-Perrin theorem, which was published in 1995 and is expressed in the language of nonstandard analysis, permits, for the first time perhaps, a clear-cut mathematical definition of the volatility of a financial asset. It yields as a byproduct a new understanding of the means of returns,...
Persistent link: https://www.econbiz.de/10008836782
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Towards a new viewpoint on causality for time series
Fliess, Michel; Join, Cédric - HAL - 2014
Causation between time series is a most important topic in econometrics, financial engineering, biological and psychological sciences, and many other fields. A new setting is introduced for examining this rather abstract concept. The corresponding calculations, which are much easier than those...
Persistent link: https://www.econbiz.de/10010899129
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Is Public Capital Really Productive? A Methodological Reappraisal
Hurlin, Christophe; Minea, Alexandru - HAL - 2012
capital stock to growth and private factors' productivity. Based on a simple stochastic general equilibrium model, built as to …
Persistent link: https://www.econbiz.de/10010899289