Past research shows that training opportunities are unequally distributed across workers, with workers who are already in a better position in the labour market having more opportunities to acquire new skills. We decompose the downstream training market in order to trace the extent to which...

The model presented in this paper has two objectives. First, it models global imbalances in a simple way while conserving real and financial approaches. This double approach is necessary because Global Imbalances are due to the conjunction of financial and real phenomena: the increase in the...

This paper studies the publishing game played by researchers and editors when the editors adopt an impartial selection process. It analyzes the possibility of congestion in the editorial process and shows that, depending on the nature of the equilibrium, the rise of the rejection costs could be...

The absence of specifically dedicated method to represent financialized capitalism constitutes a significant gap in contemporary macroeconomic modelling considering the impact of finance on the rules of wealth production and distribution. From both the lessons of Regulation theory in terms of...

In many European countries, a majority of employees are hired under very protective labor contracts thatrestrict the ability of the employer to dismiss them. In particular, employees can take to courts the firm'slayoff motive. Given the high costs specific to so-called economic motives and...

Cet article propose une analyse économique comparative de différentes règles de droit utilisées en cas de rupture de contrat. Il met plus particulièrement l'accent sur trois critères: la rupture efficace du contrat, l'existence d'investissement spécifique dans la relation contractuelle et...

What was the role of consumption structure evolution in the industrialization phases of the Western world since the 18th century? To answer this question, we first ask the économical ad historical literature. We detify the main phases of consumption structure evolution and establish a plausible...

Through a long-period analysis of the inter-temporal relations between the French markets for credit default swaps (CDS), shares and bonds between 2001 and 2008, this article shows how a financial innovation like CDS could heighten financial instability. After describing the operating principles...

Many observers argue that the abnormal accumulation of risk by banks has been one of the major causes of the 2007-2009 …nancial turmoil. But what could have pushed banks to engage in such a risk race? The answer brought by this paper builds on the classical signaling model by Spence. If banks'...

This paper presents another definition of substitutes and complements. It follows a dual approach using the Luenberger's benefit function. The benefit function measures the amount of a reference bundle that an individual would be willing to give up to move from a given utility level to any...