When trying to pull off a successful deal many senior executives focus their attention on economic synergies (1+12) and ignore that psychological synergies (1+1=1) are required to reap the financial benefits of mergers and acquisitions. The authors discuss common mistakes firms make in the...

En marge des tribunaux de commerce et dans un contexte de crise financière et économique, l'Etat a pris en charge l'intégration de la médiation dans les relations des entreprises avec les banques, avec les autres entreprises et avec l'Etat par le biais de la Médiation du crédit, la...

This paper proposes a two-country model of migration in a transferable skill sector, where workers'education is provided free of charge by governments. We study firstly the non-cooperative equilibrium where the poor country decides on the education level and the rich country decides on the quota...

This paper argues that in Euro-area economies, where the ECB cannot bail-out …nancially distressed governments, the …scal multiplier is adversely a¤ected by the amount of public debt. A regression model on a panel of 26 EU countries over the period 1996-2011 shows that a 10 percentage point...

This paper analyzes international migrations when migrants invest part of their income in their origin country. This investment contributes to increase capital intensity and wages in the origin country, thus reducing the scope for migrating. We show that a non-total migratory equilibrium can...

This original study examines the potential of a spatiotemporal autoregressive Local (LSTAR) approach in modelling transaction prices for the housing market in inner Paris. We use a data set from the Paris Region notary office (“Chambre des notaires d’Île-de-France”) which consists of...

This paper studies the influential Melitz model of trade with heterogeneous firms using an alternative, intuitive approach. Contrary to what is often argued, it is an increase in product market competition that drives the bad firms out: with two-way trade, entry by foreign firms is not...

As suggested by D. Geltner, commercial properties indices have to be built using repeat sales instead of hedonic indices. The repeat sales method is a means of constructing real estate price indices based on a repeated observation of property transactions. These indices may be used as benchmarks...

If a dollar denominated external debt comes with so many risks, why do emerging economies allow for such an imbalance to accumulate ? The explanation provided in this paper builds on a simple signaling model. By assumption, lenders have no direct possibility to infer a firm’s financial stance....

This paper argues that organization change programmes are frequently backed by appeals to "coherence" – this understood as a harmonious fit between different variables (strategy, policies, management systems) conducive to better performance. In comparison recourse to psychological notions of...