Housing returns are an important element in households’ housing tenure choices (buy/rent) and investors’ portfolio compositions. Usually in the absence of individual data, practitioners resort to the ratio of the average of rents to transaction prices over large areas to proxy these returns,...

The paper presents the GAMEO model. It is a dynamic microsimulation model which aims at analyse educational output. It develops a generational approach and put the stress on the ditribution of educational output differentiated by type an level of degree.

We consider a class of multivariate processes which, when differenced enough, yield covariance stationary processes whose determinants of the Wold representation have I as their only root on the unit circle. A representation theorem is proved for this class of processes that generalizes the...

A large exclusion from the labor market or an important unemployment of low-skilled workers is observed in some developed economies in which a minimum wage has been introduced. In such circumstances, governments may adopt two kinds of policies. They may pay unemployment benefits or they may try...

This paper analyzes the role played by inventories in the propagation of economic shocks using aggregate data for OECD countries and panel data from a sample of french firms. The approach is purely descriptive. The statement 'Production is more volatile than sales' appears to be sensitive to the...