This paper examines the stationary state income level and income growth in an overlapping generations (OLG) model in which production uses three inputs: physical capital, human capital and land. The accumulation of human capital relies on parental funding of education and the past aggregate...

We develop a theoretical model to compare the two major foreign aid modalities: project aid and budget support. These two modalities have a different impact on the production of ‘developmental goods’. Firstly, conditionality can be associated with budget support, but only a subset of the...

This study aims at analysing the determinants of foreign direct investment (FDI) inflows for a group of European regions. The originality of this approach lies in the use of disaggregated data by sector at regional level. First, we develop a qualitative description of our database and discuss...

In this paper, we investigate the convergence process within the European Union (27 countries). More particularly, we study the convergence process of the new entrants from Central and Eastern Europe and of the 15 Western countries between 1990 and 2007. Applying a panel approach to the...

This paper presents a model where young and old workers compete for one type of jobs in the presence of retirement opportunity. Within this framework, we show that increased retirement opportunities (such as early retirement) has most of the time a depressing impact on the unemployment rate....

In this paper we deal with the design of three social insurance schemes (old age social security, health insurance an child benefits) in a federal setting such as the Belgian one. We argue that these three programs need to be reformed to be more efficient and more equitable. In none of these...

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...