We assess the predictive accuracy of a large number of multivariate volatility models in terms of pricing options on the Dow Jones Industrial Average. We measure the value of model sophistication in terms of dollar losses by considering a set 248 multivariate models that differ in their...

Constructing a dynamic game model of trade of an exhaustible resource, this paper compares feedback Nash and Stackelberg equilibria when the exporting country sets quantity rather than price. We consider two different leadership scenarios: leadership by the importing country, and leadership by...

I characterize the performance of the Québec economy over the last three decades 1981-2010. Many indicators are presented: GDP, GDP per capita, population, job creation, employment rates, average weekly earnings, private investments, productivity, trade and commerce, debt, R&D. In spite of some...

Sous la direction de Luc Godbout, Marcelin Joanis et Nathalie de Marcellis-Warin Avec la collaboration de Suzanne Bisaillon, Stéphanie Boulenger, Joanne Castonguay, Natalie Coyle, Benoit Dostie, Étienne Dumont, François Dupuis, Jim Engle-Warnick, Bernard Fortin, Pierre Fortin, Nicolas...

The recent financial crisis has led to a critical evaluation of the role that fair value accounting may have played in undermining the stability of the financial system. Reacting to the pressures of banking regulators and governments, standard-setters have brought forward additional guidance on...

When the global financial crisis hit the shores of Europe, after crossing the Atlantic, the Eurozone was considered a safe haven. After the first Greek bailout in May 2010, the discourse had now changed completely; the debt crisis was the euro's fault. As a result, some argued that Greece and...

Dans cet article, les auteurs montrent pourquoi et comment de très nombreux gouvernements ont mis en place des incitatifs fiscaux dédiés aux anges investisseurs, qui financent des entreprises émergentes avec lesquelles ils n'ont pas de lien de dépendance. Les auteurs étudient également...

Les Québécois ayant des revenus de 40 000 $ et moins, et ayant contribué au RRQ toute leur carrière, sont généralement bien couvert par les programmes de revenus de retraite actuellement en vigueur, lesquels sont aussi présentés comme les Piliers I et II des systèmes de pension...

Since its inception in the Canadian agricultural policy landscape, supply management in the dairy sector has generated interest from various stakeholders. The system has been severely criticized by opponents and strongly defended by proponents, both within and outside of Canada. There is no...

Cet article présente les résultats de recherches en économie expérimentale visant à mesurer les propensions à payer d'un échantillon de consommateurs français pour des yaourts fonctionnels. Nous mesurons l'impact de l'information concernant les caractéristiques fonctionnelles des...