We show that the size of the public debt, the budget deficit and the monetary overhang made it impossible for France to stabilize its price level and return to the pre-war parity immediately after World War I, even on the anti-keynesian assumption that a stabilization would not have had any...

Most empirical knowledge on the long term performance of financial investments is derived from the behaviour of the most successful markets. Recent research has tried to broaden the sample of markets studied towards European ones, many of which were among the worlds’ most developed up to World...

Economic literature studies bankruptcy as a homogenous phenomenon. Insolvency concerns all kind of firms and judgements are made without any reference to the firm’s size. We consider this assumption does not hold and we try to consider the alternative one, i.e. judges take into account the...