We analyze a model of regulated competition in differentiated retail goods and services between an incumbent firm, who owns a network good (an essential input) and a potential entrant, whose cost of production is private information. The regulator sets the retail prices and the access charge...

The objective of this paper is to identify the role of memory in repeated contracts with moral hazard in financial intermediation. We use an original dataset from the European Bank for Reconstruction and Development to test a basic model with repeated moral hazard. To capture the role of memory,...

This paper examines the conditions for endogenous growth in an overlapping generations (OLG) model with two sectors of production when the returns to scale may be non constant and provides the technological conditions for the highest in- come growth rate.

The aim of this paper was to use a parametric stochastic frontier approach (coming from the economic literature) to explore the impact of the concept of activity (taken in a broad sense: i.e., including both professional and non-professional activities) on the constitution and the care of...

In ¯fiscal federal systems, local public works that generate spillovers are often ¯nanced by transfers from higher levels of government. In this article, we consider a governmental hierarchy composed by a Federal and a Local Government. The former delegates to the latter the task of ¯nding a...

The relative importance of the components contributing to individual wellbeing are likely to change over the life-cycle. Any social policy, whose the main role is to promote the well-being of the population as a whole, neglecting this aspect will redistribute inefficiently the resources across...

Des différences internationales importantes persistent quant au taux d'activité des travailleurs âgés et à l'âge du départ à la retraite. Tandis que certains pays d'Europe continentale sont caractérisés par des taux d'activités relativement faibles, d'autres pays développés ne...

The modifications of the demographic structure in Europe are expected to change several aspects of the economic and social landscape. Among the several issues posed by ageing, financing of health care and more precisely long-term care appears as a major challenge for the twenty-first century....

Pour expliquer les départs précoces à la retraite, les économistes utilisent le concept de taxation implicite sur tout prolongement de l’activité. De là à proposer que l’on élimine cette taxe, il n’y qu’un pas à franchir. Cette contribution montre que si le système de retraite...