This paper examines the causality relationship between immigration, Unemployment and economic growth of the host country. We employ the panel Granger causality testing approach of Kónya (2006) that is based on SUR systems and Wald tests with country specific bootstrap critical values. This...

The financial and economic crisis entails the question of a return to organized societal regulation. After 30 years during which public authority occupied a marginal position, the financial world is begging for a return to some order. Thus, the question to be asked is that of the legitimate...

In this paper, we review the macroeconomic literature on financial frictions and banking in a dynamic general equilibrium framework. Our work focuses first on the pioneer articles that have analyzed the amplification effects associated to the financial accelerator. We then shift our attention...

One year after the publication of Arrow's 1951 book Social Choice and Individual Values, Guilbaud (1912-2006) published in Économie Appliquée a 50 page's paper entitled Les théories de l'intérêt général et le problème logique de l'agrégation. In this paper -unfortunately too little...

In this paper, we try to understand the economic policies choice of countries in terms of size. According to the case whether a country is large or small, it will have different incentives in the choice of its growth strategy. Theoretically, a large country would prefer use a policy which...

In this paper, we focus on the concept of size of country (or economy). Specifically, within the European Union (EU), we look for growth discrepancies between countries according to their size. We try to explain growth differential using arguments related to the size of countries. Thus, we...

The forecasting literature has identified three important and broad issues: the predictive content is unstable over time, in-sample and out-of-sample discordant results and the problematic statistical inference with highly persistent predictors. In this paper, we simultaneously address these...