This paper develops and tests hypotheses regarding the relationship between D&O insurance purchase and firm size, governance characteristics, and business risk, using a unique panel dataset on Canadian firms for years 1996-2005. The rich data permit examination of the determinants of insurance...

In this paper we identify and measure the effects of credit shocks in a small open economy. To incorporate information from a large number of economic and financial indicators we use the structural factor-augmented VARMA model. In the theoretical framework of the financial accelerator, we...

The main contribution of this paper is to study the applicability of the bootstrap to estimating the distribution of the standard test of overidentifying restrictions of Hansen (1982) when the model is globally identified but the rank condition fails to hold (lack of first order local...

Nous nous intéressons au risque futur de longévité étant données l'augmentation de l'espérance de vie due au progrès technologique et la hausse de la prévalence de maladies liées à l'obésité et à la sédentarité. Nous utilisons dans un premier temps des techniques de...

The goal of this paper is to demonstrate how the RO methodology can be applied to evaluate TransEurope Communications (TEC) investment projects. Although realistic, the business case analysed here is fictional. The main conclusion and lesson of this exercise is: One cannot determine a value...

We show that (i) subsidies for renewable energy policies with the intention of encouraging substitution away from fossil fuels may accentuate climate change damages by hastening fossil fuel extraction, and that (ii) the opposite result holds under some specified conditions. We focus on the case...

Les données de l'Institut canadien d'information en santé (ICIS) et le modèle de micro-simulation dynamique de SIMUL permettent à la fois de projeter les dépenses en santé du Québec jusqu'en 2030 et d'en évaluer l'importance par rapport au PIB et aux revenus de l'État. Un scénario...

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage rigidities, despite the fact that these rigidities now figure prominently in workhorse macroeconomic models. We therefore integrate staggered price- and wage-setting into an...

The issue of integration of immigrants into labor market has currently become essential. Serial arrangements have been put in place in Canada to promote the articulation of immigration, labor market, social security, education and social cohesion. This article mainly explores the factors to...

We investigate the main drivers for the construction of new road-noise barriers across states in the United States. The respective influence of costs, the number of metropolitan areas and registered vehicles, state population density, the already built area, and a state's environmental efforts...