The objective of this paper is to gauge how and to which extent the surge in Greek sovereign bond rates in 2010 and 2011 has spilled over the rest of the Euro-area. To this end, we rely on a new class of contagion tests based on Smooth Transition Conditional Correlation GARCH models...

In this paper, we carry out a review of literature for both traditional and sophisticated credit assessment techniques, with a particular focus on credit scoring which is broadly used as a costeffective credit risk management tool. The objective of the paper is to present a set-up of an...

This paper develops a two-way director-firm fixed effect model to study the relationship between independent directors’ individual heterogeneity and firm operating performance, using French data. This strategy allows considering and differentiating in a unified empirical framework mechanisms...

Drawing on data from the French Labour Surveys (2005-2011), this article studies the matching processes via the three main channels in the French labour market: direct applications, networks and public agencies. The job finding channels are analyzed, controlling for the job search channels used....

The purpose of this paper is to study the relative impact of public and private competition law enforcement on antitrust liability. We develop a model with asymmetric information during trial, where the number of cases filed depends on the amount of damages awarded and on the standard of...

In this paper we focus on a long-term dynamic analysis of the optimal adaptation/mitigation mix in the presence of a pollution threshold above which adaptation is no longer efficient. We account for accumulation in abatement capital, greenhouse gases, and adaptation capital in order to better...

This paper analyzes the determinants of public law enforcement policies when citizens vote for the timing and level of fi…nes. We consider situations where citizens and politicians disagree on the value of the expected social harm associated with some activities. We fi…nd that citizens vote...

This paper explores the interaction of private precaution and public safety investments when the latter are determined in a political process. We distinguish the scenarios in which the median victim infuences public safety from the one in which the injurer lobbies the public agent, and analyze...

This paper investigates the relationship between Information and Communication Technologies (ICT) and productivity within 240 industries from 8 OECD countries. Specifically, it aims at providing explanations for the coexistence of this strong technological evolution together with the absence of...

In this paper, we address the issue of devaluations' effectiveness by investigating to what extent a nominal devaluation leads to a real depreciation. Beyond the traditional factors identified by the literature, we pay particular attention to the size of the nominal devaluation and to the...