This paper attempts to empirically explore the effects of trade liberalization process in Tunisia on average real wages and wage inequality, via industry rents. For this purpose, we adopt, following Revenga (1997), a flexible model of wage setting that can accommodate both the presence of...

The aim of this article is to analyse the question of career interruptions and to evaluate their impact on pension retirement for French private sector workers. Using the last French survey on households' wealth (2003-2004), we first study the career set-backs for individuals born between 1937...

Cet article examine les effets des plans d’épargne salariale sur l’épargne retraite volontaire. Nous construisons un modèle dynamique de maximisation d’utilité, pour déterminer les équations de demande de l’épargne salariale d’une part et de l’épargne classique d’autre...

This paper analyses the e¤ects of money shocks on macroeconomic aggregates within a flexible price, incomplete markets environment that generates persistent wealth inequalities amongst agents. In this framework, unexpected money shocks redistribute wealth from the cash-rich employed to the...

Cet article porte sur les transformations en cours du corporate governance au Japon, domaine d'observation privilégié de la crise nippone au cours de la décennie quatre-vingt-dix. Ce travail s'inscrit dans un courant plus large de travaux cherchant à analyser la transition d'un système de...

Deregulation and progress in information and communication technologies have increased the geographical expansion of banking structures and instruments. This makes banks operationally close to the borrowers. At the same time, banking industry consolidation have induced a geographical...

Using a sample of acquisitions of unlisted firms completed by public companies from 17 Western European countries over the period 2003-2008, this study investigates whether private equity (PE)-backing of acquired firms has an impact on announcement period abnormal returns to acquirers. 12.5% of...

Dans le cadre théorique du gouvernement d'entreprise, cet article étudie l'efficacité du contrôle exercé par la structure de propriété et le conseil d'administration sur les dirigeants. La confrontation des théories de l'enracinement et de l'agence permet de déterminer les conditions...

The typical French listed company exhibits a concentrated ownership structure with the largest shareholder typically holding more voting rights than cash flow rights. This paper studies the acquisitions made by French listed firms over the period 2000 through 2009 and investigates how such...