In this study, we test the three factor model of Fama and French and the Characteristic Model of Daniel and Titman (1997) on The French Stock Market over July 1976 to June 2001 period. Stocks are ranked by size and book to market ratios and then by ex-ante HML, SMB or Mkt loadings. The...

Portfolio theories are meant to provide a method for managing assets and constructing portfolios. Meanwhile, the mean-variance technique has been heavily criticized by some academics, and its application to real estate portfolio is questionable (Cheng and Liang, 2000). Indeed, the mean-variance...

Objective: Pay-for-performance programmes have been widely implemented in primary care, but few studies have investigated their potential adverse effects on the intrinsic motivation of general practitioners (GPs) even though intrinsic motivation may be a key determinant of quality in health...

Why are there areas with persistenly low levels of income or consumption? This could result from the concentration of households with a low capital endowment or from variations in households’ environment. Peru is a country with a very much fragmented topography and climate, that combines dry...

This paper assesses the impact of a free means-tested complementary health insurance on doctor visits. In order to tackle the endogeneity issue of the complementary health insurance variable, we use information on the selection rule to qualify for the free plan and adopt a regression...

In order to assess the growth implications of policy complementarities, this paper applies second-best results to reform indicators. During the transition from central planning to EU integration, which corresponds to a policy cycle, a complementarity index based on structural indicators compiled...

This article focusses on self-assessed unmet needs for financial reasons. We study its social and economic determinants and its consequences on future health status, from a longitu- dinal dataset: the French Heath, Health care and Insurance Survey (Enquête Santé Protection Sociale). We first...

This paper studies the determinants of poverty dynamics in several rural areas from Madagascar. A particular attention is devoted to testing if rural poverty persistence in Madagascar could be explained by a vicious circle leading to a poverty trap. Annual poverty transitions retrieved from an...

This paper proposes an econometric analysis of the effects of three kinds of socio-political instability - violent, social and elite - on foreign aid allocation. Arellano and Bond [1991] application of the generalized method of moments estima­tions show that the effect of socio-political...