The objective of this paper is to identify the role of memory in repeated contracts with moral hazard in financial intermediation. We use an original dataset from the European Bank for Reconstruction and Development to test a basic model with repeated moral hazard. To capture the role of memory,...

Undeclared work is a popular academic and governmental research topic in most developed countries. In 2007, the European Commission decided to carry out a European Survey called “Eurobarometer” on this sensitive issue. The Commission interviewed almost 27 000 citizens coming from the 27...

This paper examines the conditions for endogenous growth in an overlapping generations (OLG) model with two sectors of production when the returns to scale may be non constant and provides the technological conditions for the highest in- come growth rate.

This paper aims to evaluate Senegalese consumers' willingness-to-pay (WTP) for local fresh milk-based products, in opposition to the ones produced with imported powder. Using data from a choice-based-conjoint analysis conducted on 400 households in the re- gion of Dakar, we evaluate the premium...

Cette note a pour objectif d’illustrer, dans le cas de la Belgique et de ses régions, un problème particulier posé par la mesure de la pauvreté. Etant donné que la mortalité varie selon le niveau de revenu – les personnes aux revenus plus élevés vivant plus longtemps, en moyenne, que...

In this paper we use data on five social inclusion indicators (poverty, inequality, unemployment, education and health) to assess and compare the performance of 27 European welfare states (EU27) in 2008. Aggregate measures of performance are obtained using index number methods similar to those...

The aim of this paper is to investigate the long run relationship between the development of banks and stock markets and economic growth. We make use of the Groen and Kleibergen (2003) panel cointegration methodology to test the number of cointegrating vectors among these three variables for 5...

In a series of experiments conducted in Belgium (Wallonia and Flanders), France and the Netherlands, we compare behavior regarding tax evasion and welfare dodging, with and without information about others’ behavior. Subjects have to decide between a ‘registered’ income, the realization of...