In this paper we deal with a utility maximization problem at finite horizon on a continuous-time market with conical (and time varying) constraints (particularly suited to model a currency market with proportional transaction costs). In particular, we extend the results in Campi and Owen (2011)...

We present an optimal investment theorem for a currency exchange model with random and possibly discontinuous proportional transaction costs. The investor’s preferences are represented by a smooth, multivariate utility function, allowing for simultaneous consumption of any prescribed selection...

We present an optimal investment theorem for a currency exchange model with random and possibly discontinuous proportional transaction costs. The investor’s preferences are represented by a multivariate utility function, allowing for simultaneous consumption of any prescribed selection of the...

After two debt relief initiatives launched in 1996 (the Heavily Indebted Poor Countries, HIPC Initiative) and in 1999 (The enhanced HIPC initiative), the G7 decided to go further by cancelling the remaining multilateral debt for these HIPC countries through the Multilateral Debt Relief...

Après avoir relevé les divers défis affectant la régulation des industries de réseau et discuté de la pertinence des modèles disséminés par les institutions financières des pays en voie de développement, l'ouvrage met en lumière les inquiétudes des acteurs de l'industrie et les...

The questioning of how public investments decisions are made leads to a two-level problematic. On the one hand, public decision makers have constrained resources that they have to use the best way they can. On the other hand, by choosing between alternative investments projects, decision makers...

After two debt relief initiatives launched in 1996 (the Heavily Indebted Poor Countries, HIPC Initiative) and in 1999 (The enhanced HIPC initiative), the G7 decided to go further by cancelling (most of) the remaining multilateral debt for these HIPC countries through the Multilateral Debt Relief...

The presence of nearby public facilities has an impact on real-estate values; for this reason, the market may reasonably anticipate that public infrastructure projects will affect house prices. But undesirable and semi-desirable facility location choices may be contested by nearby residents, as...

This paper proposes an evaluation of the main empirical approaches used in the literature to estimate the productive contribution of public capital stock to private factors productivity and growth. Our analysis is based on the replication of these approaches on pseudo samples generated using a...

The article offers an empirically-founded analysis of conflicts on public utility infrastructures in the region surrounding Paris It sheds some light on public decision-making process and on the role conflicts play in the process of land availability in the Paris region. Empirical evidence based...