Using Archimedean copulas, we investigate the dependence structure existing between several series of financial assets log-returns that come from different markets. These series are considered as components of a portfolio and they are investigated on a long period including high shocks. To...

This arrticle analyzes the determinants of voluntary contribution to environmental quality by introducing the perception of the environmental risk. The environmental quality is assumed uncertain and influenced by current quality and individuals' contributions. We consider individuals who are...

A panel of 186 European banks is used for the period 1992-2004 to determine if banking behaviors induced by the capital adequacy constraint and the provisioning system, amplify credit fluctuations. Our finding is consistent with the bank capital channel hypothesis, which means that poorly...

This anthology consists of a collection of articles that address two common questions : how institutions emerge from individual actions and how individual actions are shaped by institutions ? What unifies these contributions is the search of a theoretical explanation that overcomes the...

This paper analyzes American pharmaceutical firms' persistence in innovating just before the wave of mergers and acquisitions that accompanied the "Biotech revolution". We evaluate the impact of past innovative activity on firms' innovation propensities using a non-linear GMM estimator for...

We prove that the problem of deciding whether a graph has a balanced skew partition is NP-hard. We give an O(n9)-time algorithm for the same problem restricted to Berge graphs. Our algorithm is not constructive : it certifies that a graph has a balanced skew partition if it has one. It relies on...

Most welfare programs generate high marginal tax rates on labor income. This paper uses a representative sample of individuals on France's main welfare program (the Revenu Minimum d'Insertion, or RMI) to estimate monetary gains to employment for welfare recipients. This is based on the...

The object of this paper is to analyse the links between income distribution and growth in a finance-led economy, with a post Keynesian "stock-flow" macroeconomic model. In fact, the increased share of financial activities creates a new macroeconomic and income distribution dynamic. We will use...

The aim of this paper is to discuss the relevance of "making work pay" policies from within. We first discuss the various justifications of the motto and then connect them to the existing variety of implementation experiences in Europe. We compare the classical organizarion of arguments behind...

We introduce a generalized coercivity type condition for set-valued maps defined on topological spaces endowed with a generalized convex structure and we extend the Fan's matching theorem.