L'evolution vers un enseignement superieur de masse pose la question de l'aptitude du systeme economique a absorber l'afflux correspondant de diplomes dans des conditions conformes aux attentes des entreprises et des interesses eux-memes. Dans cette perspective, le present article precise...

This paper examines the pattern of capital mobility in a two-country overlapping generations world in which production uses three inputs capital, labor and land. The steady-state welfare consequences of opening countries to financial capital or labor mobility are then compared. In particular, it...

This paper qualifies Weil [1989]'s according to which dynamic efficiency may fail when agents are infinitely-lived, but "disconnected" from previous ones. It is shown that finite horizons matter in the following sense: if dynamic inefficiency results when the agents have infinite horizons, then...

Ce document est en deux parties. Les principaux modeles de l'econometrie des donnees de panel sont exposes. La premiere partie est consacre a l'estimation des modeles lineaires et a variable dependante qualitative sur un panel cylindre. La seconde partie est consacree aux methodes d'estimations...

The usual formulation of probit models includes, as endogenous variables, both continuous latent variables and binary observable variables. The solution of simultaneous probit models involving only latent endogenous variables among the explanatory variables is straightforward, provided the...

In this paper we propose a form of semi-nonparametric regression based on wavelet analysis, and demonstrate its empirical utility in the context of commodity price behavior.

This paper compares the power in small samples of different tests for conditional heteroscedasticity. Two new tests, based on neural networks, are proposed: the main interest in them arises from the fact that they do not require the exact specification of the conditional variance under the...

This paper shows how one can compute option prices from a Bayesian inference view point, using a GARCH model for the dynamics of the the volatility of the underlying asset. The proposed evaluation of an option is the predictive expectation of its payoff function. The predictive distribution of...

This paper provides a survey of normative approaches to inequality measurement, to be published as a chapter in a volume of income inequality. We present general methods for deriving ethical inequality indexes from social-evaluation orderings such as the Atkinson-Kolm-Sen and Kolm procedures.