The financial crisis has demonstrated the need to better analyze financial innovations. While some of these innovations are beneficial, others do not improve overall welfare and create unacceptable risks for the economy. A major impediment to efficient regulation is the lack of research...

In this article, we study the impact of changes of total labor costs on employment of low-wage workers in France in a period, 1990 to 1998, that saw sudden and large changes in these costs. We use longitudinal data from the French Labor Force survey ("enquête emploi") in order to understand the...

We use longitudinal individual wage and employment data in France and the United States to investigate the effect of changes in the real minimum wage rate on an individual's employment status. We focus on workers employed at wages close enough to the minimum in a reference year as to be illegal...