We built an original database of flow of funds financial accounts in order to assess the final destination of households' financial wealth. Our method based on matrix calculation stepwise makes all financial intermediaries transparent. We reject the usual dichotomy between bankand market-based...

This paper considers whether there has been an increase in mobility in the French labour market over the past 60 years. We use data on 6618 careers from a French survey called Histoire de vie – Construction des identités (INSEE). We find a small increase in mobility mainly due to the...

This paper examines how the viability approach can be used to define sustainability goals. In an economic model with a non renewable natural resource, we define minimal rights to be guaranteed for all generations. These rights can include a minimal consumption (economic goal) and the...

We investigate the impact of new work practices and information and communication technologies (ICT) on working conditions in France. We use a unique French dataset providing information on individual workers for the year 1998. New work practices include the use of quality norms, job rotation,...

This paper attempts to analyse the main characteristics of the Northern Rock crisis and the responses of the Bank of England as lender of last resort. On the basis of the diagnosis about the causes and the handling of this banking crisis we detect the shortcomings prevailing in the UK prudential...

This text proposes to address the issue of the arbitrariness of decision-making, by using the concept of convention. We use the analytical framework of the (French) Conventions economics to define convention as an “interpretation scheme” We show the role of the representations, in the...

The purpose of the article is to analyse the consequences of the constraint of shareholder value on the wage level and equilibrium unemployment rate. We will relate the new program of maximization of the firm, as well as the one of the trade union. We obtain an increase of the unemployment rate...

This paper studies the determination of public investment in environmental quality when there are private alternatives. Public investment is chosen by majority voting. When consumption and environmental quality are complementary one may observe a solution of the type "ends against the middle".

The current paper studies the financial structure in buyout firms under moral hazard due to unobservable efforts and an excessive risk-taking. The choice of the exit route may lead to agency conflicts between the entrepreneur and the LBO firm: the former may take very risky decisions to increase...

In this paper, we study the development of mobile payments as an innovation in developed countries. In particular, we introduce five cooperation models that have emerged or could emerge between banks, mobile network operators, and payment systems, for the development of this new payment method....