This paper shows that a model which combines sticky prices and sticky wages with investment in the cash-in-advance constraint generates business cycle dynamics consistent with empirical evidence. The model reproduces the responses of the key macroeconomic variables to technology and money supply...

While electoral accountability should be stronger when responsibilities are clearly assigned to one political office, the involvement of higher tiers of government is often associated with policies specifically designed to improve local accountability. This paper investigates the impact of...

Le football est un sport très populaire en France. À ce titre, les clubs de football professionnels français consacrent de très importantes ressources à leurs activités. Certains clubs, même avec des dépenses énormes, peinent à avoir des résultats intéressants, notamment au niveau...

In this paper, we investigate a dual class of bi-polarization indices, namely rank-dependent bi-polarization indices. We show that these indices may be characterized with the generalized positional transfer sensitivity property. We find necessary and sufficient conditions in order to identify...

Capital markets may be an important tool in the reduction of pollution emissions. Indeed, they provide firms with an incentive to maintain a good environmental record (or at least, a good reputation) in order to maximize the value of their equity shares. Also, efficient capital markets may...

A Monte Carlo investigation shows that the rejection probability of the structural stability test of Andrews (2003) depends on several characteristics of the DGP, one of which is the length of the hypothesized break period. This is analyzed and found to be caused, at least in part, by the fact...

In this paper we study jointly optimal ¯scal and monetary policies in a small open economy framework with capital and sticky prices. We consider the case of distor- tionary taxes on labor and capital, and no public debt. As in a closed economy set{up, in the steady state, the optimal in°ation...

L’objectif principal de la Stratégie de croissance accélérée (SCA) du Sénégal est d’accroître le rythme de la croissance de l’économie en la rendant profitable aux pauvres. Or dans toute économie, il existe une relation entre la croissance économique, la réduction de la...

In this paper we use a CGE macro-micro modelling approach to analyse the distributional impact of the food crisis and to examine a couple of policy responses in two neighbouring West African countries. Both countries are strongly dependent on agriculture; both have similar climates and share many...

L’estimation des coûts liés à l’imposition de limites aux émissions de gaz à effet de serre (GES) a fait l’objet de beaucoup d’attention médiatique dernièrement. La Chine étant un des plus grands émetteurs de GES, l’évaluation des coûts pour l’économie chinoise est donc...