This article theoretically and empirically tests the link between financial constraints and the extensive (proportion of exporters) and intensive (volume of exports) margins of international trade. The article's main contribution is its macroeconomic analysis of this relationship, which is...

This paper shows that utility differences between the self-employed and employees increase with financial development. This effect is not explained by increased profits but by an increased value of non- monetary benefits, in particular job independence. We interpret these findings by building a...

La finance est aujourd'hui au cœur de la polémique : certains la rendent responsable de la plus grave crise économique depuis la grande dépression des années trente alors que d'autres estiment qu'elle impose un véritable diktat aux États et que son emprise sur l'économie est devenue...

Introduction to the special issue of the EJHET in relation with the 2011 Fisher Conference organized in Lyon 2 University, France, by the laboratories LEDa, PHARE and TRIANGLE

This paper provides an analysis of co-movements between real and financial variables in three new EU member countries (the Czech Republic, Hungary and Poland) and the euro area. It focuses on the co-movement between real credit granted to firms and real industrial output on the one hand, and...

We present a model to analyze different equilibria that exist in an economy in which agents can choose the means of payment to use in trade ; i. e., inside or outside money. Our approach departs from the usual explanation of competition as a phenomenon related to money functions (means of...

I present a model in which credit and outside money can be used as means of payment in order to analyze how access to credit affects welfare when credit markets feature limited participation. Allowing more agents to use credit has an ambiguous effect on welfare because it may make...