In this paper, we show that the correspondence discovered by Koshevoy (1999) and, Johnson and Dean (1998) between anti-exchange closure operators and path independent choice operators is a duality between two semilattices of such operators. Then we use this duality to obtain old and new results...

We consider a financial market consisting of a nonrisky asset and a risky one. We study the minimal initial capital needed in order to super-replicate a given contingent claim under the Gamma constraint, i.e. a constraint on the unbounded variation part of the hedging porfolio. In the general...

Cet article porte sur la politique de l'emploi et la protection contre le chomage en Coree du Sud apres la crise asiatique.

We give in this paper a formal definition of the concept of weak and strong a-polarization. We give necessary and sufficient conditions for a decision maker who respects the Lorenz order and who behaves in accordance with the expected utility model, with Yaari's dual model or with the...

In a multiperiod economy with incomplete markets and assets that exhibit a payoff depending on price history, we show that one need not perturb back office and settlement feature of assets to get endowment generic existence of an equilibrium. We exhibit a class of assets -transverse assets - and...

Aggregate fluctuations display both persistence and damped oscillations in response to transitory shocks. The one sector growth model cannot explain these patterns. This major defect of this model results in its total inability to produce endogenous cycling, because its stable eigenvalues are...

La theorie des cycles reels a pris le contre-pied de la macroeconomie keynisienne traditionnelle. Les fluctuations de l'emploi et du salaire reel pourraient etre le resultat d'un ajustement de l'offre de travail grace a une parfaite flexibilite du salaire aux variations de la demande de travail...

Ce document de travail propose une introduction analytique a la lecture des théories du systeme mondial capitaliste. Une premiere partie explique les liaisons existant entre l'oeuvre de Marx et ces theories. Les trois parties suivantes sont consacrees aux apports respectifs de Samir Amin,...

In a first time we draw a rough shape of a general formal framework for polynomial approximation theory which encompasses the existing one by allowing the expression of new types of results. We show how this framework incorporates all the existing approximation results and, moreover, how new...