Whereas recent studies on revolving lines of credit suggest a positive relationship between exposure at default and default probability on the line, this paper considers the relationship between two financial instruments through the simultaneous analysis of credit line utilization and default...

Dans cet article, nous démontrons, en utilisant des données de l’Enquête canadienne sur les capacités financières, que le Québec tire de l’arrière par rapport au reste du Canada non seulement en termes de niveau de littératie financière et d’éducation financière, mais aussi en...

This paper estimates a reduced form model of the Canadian mortgage demand from 1971 to 2010. Three equations are estimated, one for the average real value of new mortgage loans originated, another one for the number of new loans and a third for the flow of real repayment of existing loans. The...

The Theory and Evidence Presented Here Suggest That the Distribution of Earnings, Within Enterprises, Is Subject to Modification Through Social Processes At the Workplace. a Wide Variety of Phenomena: Uniform Hourly Wages, Ceilings on Output, the Emergence of Cliques, the Reactin to Wage...

We propose a consumption-based capital asset pricing model in which the representative agent's preferences display state-dependent risk aversion. We obtain a valuation equation in which the vector of excess on equity includes both consumption risk as well as the risk associated with variations...

Throughout this article, we utilize consumption dominance curves, a tool developed by Makdissi and Wodon (2002) to analyze the impacts on poverty brought on by changes in the food subsidy system in Egypt. The Egypt Integrated Household Survey (EIHS) of 1997 allows us to conclude that changes...

Children are seldom accounted for in household behavioural models. They are usually assumed to have neither the capacity nor the power to influence the household decision process. The literature on collective models has so far incorporated children through the "caring preferences" of their...