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.

The purpose of the paper is to introduce a tighter definition for the marginal pricing rule. By means of an example, we illustrate the improvements that one gets with the new definition with respect to the former one with the Clarke's normal come.

The economic ethics tries to define common rules relative to the economic system. Thus, the ethics formalization is at issue, so that ethics can be integrated at firm level. Ethical standard, as a specific tool of formalization, compromises between a responsible behaviour, a state of technique...

Bi-cooperative games have been introduced by Bilbao as a generalization of classical cooperative games, where each player can participate positively to the game (defender), negatively (defeater), or do not participate (abstentionist). In a voting situation (simple games), they coincide with...

This paper examines the per capita income convergence process among 23 Argentinean provinces over the period 1983-2002. The purpose of this work is to apply new estimation methods following two-step procedure as in Badinger et al. (2004). We combine a spatial filtering of variables to remove the...