We present new indices of the Paris stock exchange during the interwar period. We first discuss the conditions for stock market indices to be useful instruments both of long term capital productivity measure and of portfolio performance, especially for international comparisons. We show that...

The literature on household behavior contains hardly any empirical research on the within-household distributional effect of tax-benefit policies. We simulate this effect in the framework of a collective model of labor supply when shifting from a joint to an individual taxation system in France....

Globalization has been identified by many experts as a new way firms organize their activities. This paper surveys recent work which examines the role of trade integration between similar and dissimilar countries for these changes in corporate organization. It is shown that international...

This paper investigates the effect of corruption on competition in government procurement auctions. Our assumption is that the bureaucrat (i.e. the agent that administers the market), if corrupt, may provide a favor in exchange for a bribe.