This paper studies the aggregate implications of microeconomic investment irreversibility and idiosyncratic uncertainty. We explore the ability of irreversibility to endogenously generate differences in firms sizes.

Ce cahier presente quelques elements historiques sur l'esclavage a Cuba : ses origines, son essor et son effondrement. Il se compose de parties : l'apparition de l'esclavage, esclavage et sucre, les causes externes de l'essor du systeme esclavagiste, les causes internes de l'essor du systeme...

Given two closure spaces (E,j) and (E',j'), a relation R inclue dans E x E' is said biclosed if every row of its matrix representation corresponds t o a closed subset of E', and every column to a closed subset of E. An isomorphism between, on the one hand, the set of all biclosed relations and,...

This paper provides a precise and critical rereading of theories, developed before the 1990s, able to justify why privatization has been considered as a central component of transition in post-socialist countries, mainly the theory of property rights, managerial theories of the firm, the...

Ce travail s'inscrit dans le cadre du projet Prolex de constitution d'un dictionnaire electronique relationnel de noms propres. Nous representons automatiquement ce dictionnaire sous la forme d'un transducteur a nombre fini d'etats, qui permet une recherche rapide et le compactage important des...

In this paper we propose a unifying approach to study optimal growth models with bounded or unbounded returns. We prove existence of optimal solutions. We prove also, without using contraction method, that the value function is the unique solution to the Bellman equation in some classes of...

In this paper we examine the influence of monetary policy on real activity in France and attempt to isolate the different monetary transmission channels. We use a multivariate model including : output, prices, a monetary aggregate, a short-term interest rate and a short -term bank loan rate.

One may reason before making a decision on perceiving potential objections to expected utility-preference. Cognitive consistency is attained by making full use of available information, i.e. consistent preference and reasons. I show that coincidence between the rational choice and the normative...