This paper examines what economic policy has learned from the contemporary developments in economic research and which lessons have been drawn from them for the formulation and the implementation of French economic policy. Advances in research are grouped under three headings: the intertemporal...

We assess the nature of the European sovereign crisis in the light of a model borrowed from the second generation of currency crises. We bring the theory to the data to empirically test the presence of self-fulfilling dynamics and to identify what may have driven the market sentiment during this...

The financial burden for EU health systems associated with cardiovascular disease (CV) has been estimated to be nearly €110 billion in 2006, corresponding to 10 % of total healthcare expenditure across EU or a mean €223 annual cost per capita. The main purpose of this study is to estimate...

From 1970s, the questioning of the monetary system of the fixed parities causes the appearance of new risks on markets, and leads financial players to look for new techniques to master the effects: the first derivative financial instruments arise from this will. However, at the time of...

To prepare for the first Kyoto Protocol commitment period (from 2008 to 2012) it decided to set up a European market for trading carbon dioxide by 2005. The volumes traded on this market and the solidity of its institutional foundation rapidly made it the epicentre of the global carbon market....

This paper analyses the private equity fund compensation. We build a model to estimate the expected revenue of fund managers as a function of their investor contracts. We tried to evaluate the present value of the carried interest, which is one of the most common profit sharing arrangements...

This paper reconsiders the theory of existence of efficient allocations and equilibria when consumption sets are unbounded below under the assumption that agents have incomplete preferences. Our model is motivated by an example in the theory of assets with short-selling where there is risk and...