The aim of this paper is to consider the moments and the semi-moments (i.e semi-kurtosis) for portfolio selection with fuzzy risk factors (i.e. trapezoidal risk factors). In order to measure the leptokurtocity of fuzzy portfolio return, notions of moments (i.e. Kurtosis) kurtosis and...

This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...

In their quest for deeper insight into organizations, for some years now a great deal of researchers have focused on the concept of routines. Routines enable researchers to make out some of the dynamics which govern the organization, by fostering stability or , on the contrary, favoring...

The mainstream view in economics has been a key factor in designing climate policies. Given that the controversy over the “efficiency paradox” has shown that mainstream economics is not neutral in the way it deals with climate change, the purpose of this paper is to investigate what insights...

Suivant la feuille de route tracée par Joan Robinson, nous avons construit un modèle d'économie monétaire de production avec monnaie endogène, peuplé d'agents hétérogènes, autonomes et concurrents. Dans ce papier, on se propose de relâcher l'hypothèse d'entreprises orientées vers la...

Why do investors keep different opinions even though they learn from their own failures and successes? Why do investors keep different opinions even though they observe each other and learn from their relative failures and successes? We analyze beliefs dynamics when beliefs result from a very...

Why do investors keep different opinions even though they learn from their own failures and successes? Why do investors keep different opinions even though they observe each other and learn from their relative failures and successes? We analyze beliefs dynamics when beliefs result from a very...

We build a two-country open-economy monetary union DSGE model in order to explain some macroeconomic imbalances in the euro area. We fo cus on the role of cyclic al behaviour of public spending and sovereign risk premium. Pro-cyclical primary public expenditures in one country do not lead to...