This paper investigates the impact of complementarity reforms on growth and how it depends on GDP per capita. Based on reform data for six policy areas compiled from various sources during the period 1994-2006 for over 100 countries, we compute composite indicators of reform level and...

This paper investigates the impact of health risk on insurance contract with hazard moral. We use a bi-dimensional utility function (wealth and health status). We prove that the type of health risk influences the equilibrium of insurance market. A full coverage is possible with moral hazard....

Two agents sequentially contracts with different principals under moral hazard. If agents care for one another, the second principal gains by insuring them over first wages. Even with independent tasks, the first principal must offer riskier payments to induce effort.

This article uses recent survey data from the Kayes area (Western Mali) to estimate the effect of migration and remittances on the technical efficiency of agricultural households. A theoretical model is developed, which shows that the more insurance is provided by the migrants, the less...

We study an economywhere intermediaries compete over contracts in a nonexclusive insurance market affected by moral hazard. In this context, we show that, contrarily to what is commonly believed, market equilibria may fail to be efficient even if the planner is not allowed to enforce...

In this note, we generalize the results obtained by Barday and Lesur (2005) by considering a bivariated non separable utility function. We characterize optimal health insurance contracts. Moreover, we show that under moral hazard a sufficiently high risk aversion implies that the optimal...

Conflicts of interest are the inherent price to pay to benefit from information synergies offered by multiple financial service providers. We focus on conflicts faced by a investment bank's "guru" sell-side analyst, which is torn between the pro-investor research department favoring fair...

Although the impact was less dramatic than in other Asian countries, Vietnam has been affected by the international crisis which started in 2008, resulting in a significant slowdown of economic growth. This paper aims at assessing the impact of this economic crisis on employment, unemployment...

The aim of this paper is to study the nature of the relationship between energy consumption and economic growth in Cameroon through a three-step approach: (i) study the stationarity of the chronic, (ii) test of causality between variables, and (iii) estimate the appropriate model. The study...