The growing importance of inter-network exchanges in infrastructure-based utilities influencesregulatory choices and access pricing for downstream services using the networks. Weanalyze this problem in a setting where the infrastructure managers of two bordering countriesare in charge of pricing...

Econometric evaluations of public-sponsored training programmes generallyfind little evidence of an impact of such policies on transition ratesout of unemployment.We perform the first evaluation of training effectsfor the unemployed adults in France, exploiting a unique longitudinaldataset from...

We study some extensions of the empirical likelihood method, when theKullback distance is replaced by some general convex divergence or I'* dis-crepancy. We propose to use, instead of empirical likelihood, some regularizedform or quasi-empirical likelihood method, corresponding to a convex...

This note shows that a general oligopolistic equilibrium (GOLE), a notionrecently introduced in the literature by Neary, may be Pareto-efficient. Consequently,at a GOLE, the allocation of resources can be identical to thatof a competitive equilibrium. We also propose a characterization of...

In many instances, “independently-minded” top-ranking executives canimpose strong discipline on their CEO, even though they are formally underhis authority. This paper argues that the use of such a disciplining mechanismis a key feature of good corporate governance.We provide robust...