This paper examines the implications of changes in economic behaviour for simple inflation-forecast­based monetary rules of the type currently used at two inflation-targeting central banks. Three types of changes in economic behaviour are considered, changes that are motivated by developments...

We obtain semiparametric efficiency bounds for the estimation of a location parameter in a time series model where the innovations are stationary and ergodic, conditionally symmetric martingale differences but otherwise possess general dependence and distributions of unknown form. We then...

Although it is intuitive and morally compelling that the worst forms of child labour should be eliminated, banning them in poor countries is unlikely to be welfare improving and can come at the expense of human capital accumulation. We show that the existence of harmful forms of child labour, in...

In this paper, we introduce a dynamic general equilibrium model with numerous and heterogeneous investment projects and endogenous occupational choice to study a credit crunch. The investment decision is determined through the occupational choice of households which is driven by the endogenous...

In this paper we view child labor as a negative externality exerted by some poor countries on richer nations. The practice of child labor can thus be used by the poor to extract some form of compensation over time. We build a two-country growth model with international externality. We then...

In this paper, we adopt the usual assumptions of the collective approach, i.e. individualism and efficiency, to study household labor supply. The theoretical innovation is twofold. First, we incorporate the decision to participate in the labor market in the initial setting. Second, we abandon...

From the mid 1980's, the Canadian government froze or cut back the major traditional provisions targeted towards families with children. Faced with the lowest (and declining) fertility rate in Canada, the government of the province of Québec (where the population is mostly French) decided in...

We show how a Schumpeterian process of creative destruction can induce rational, herd-behavior by entrepreneurs across diverse sectors of the economy that may look like it is fuelled by ``animal spirits''. Consequently, a multi-sector economy, in which sector-specific, productivity improvements...

In this paper we extend the Becker-Keeley and Bergstrom-Bagnoli theories of the optimal age at marriage and derive systematic cross-cultural differences in the marriage pattern. We then examine the empirical relevance of the hypotheses for Jewish and Moslem population groups in Israel. The...

Ce texte propose une revue des développements récents de la littérature macroéconomique inspirée de l'approche des modèles du cycle réel via l'introduction de différentes facettes de l'activité gouvernementale. A l'aide d'un modèle typique du cycle réel avec gouvernement, nous...