This paper examines whether reputation concerns can induce the central bank to implement the time-inconsistent optimal monetary policy in a standard New Keynesian model. The forward-looking nature of this model is in this respect interesting on two accounts: first, it worsens the...

La crise économique des années 1970 remet en cause l’intervention de l’Etat, en raison de l’intensification de la concurrence internationale, de l’apparition des nouvelles technologies de l’information et de la communication et de la globalisation des marchés financiers. Depuis les...

Ce document de travail retrace l’évolution de la création d’entreprises à Dunkerque entre 1993 et 2005, selon le concept du potentiel de ressources de l’entrepreneur. Alors que la grande industrie s’était développée à Dunkerque depuis les années 1960 avec le soutien de l’Etat,...

Pendant la crise des années 1930, l’idée fondamentale de J. M. Keynes est de soutenir la demande pour créer des marchés. Aider les pauvres, c’est aider le capitalisme ! Les années de croissance 1950-1970 en ont bénéficié. La crise économique des années remet en cause ce schéma...

Le rapport prend en considération un éventail d'indicateurs non économiques parmi lesquels diverses mesures de transformations démographiques, telles que les tendances de la mortalité, de la fécondité, du mariage et du divorce. Ces changements peuvent présenter de l'intérêt par...

To ease the financing of growing SMEs, governments found or indirectly fund venture capital companies. These companies act in a context of extreme information asymmetry and potentially exorbitant agency costs. The rigorous governance of these companies is thus pivotal to their performance. We...

We analyse the American Small Business Investment Companies (SBIC) program designed to help small and medium sized businesses find venture capital. SBICs are private entities that may be financed by the Small Business Administration under favourable conditions. The success of this program should...

Most countries have set up structures and programs for new business creation and financing. We analyze strategies implemented in France, Germany and United Kingdom, where the proportion of government funds in venture capital financing is significantly smaller than in the Quebec, yet the rate of...

In just several years, Israel developed a strong venture capital industry that places it among the top countries in terms of capital-GDP ratio. The strategy of the Israeli government was twofold. First, the government strongly stimulated the demand for venture capital, using R&D grants,...

In order to act of better than possible on the level of urban congestion downtown and on the various external effects (sound, pollution...), the political decision maker must carry out choices among a multitude of tariffs instruments (urban toll, parking toll, kilometric taxation, alternative...