Why did the stock market decline so much in the early 1970s and remain low until the early 1980s? We argue that it was because information technology arrived on the scene and the stock-market incumbents of the day were not ready to implement it. Instead, new firms would bring in the new...

Severe economic fluctuations which had recently hit the entire world economy after relatively prosperous decades despite numerous institutional efforts to control them have recalled an interest to the theory of economic cycles. Historical data on main economic indexes and academic evidence show...

Whereas the linkage between technology and climate policy has been extensively analysed, the interaction between climate policies and human capital formation has received considerably less attention. Human capital is a determinant of economic growth and, at the same time, it affects the...

Since the beginning, human civilization was structured around the concept of work. Currently, however, human labor is systematically removed from the economic processes. By the end of the 21st century it is very likely that human work should be gradually replaced by automated work in most...

This article aims to approach the topic of the electronic commerce considering the context of the durable development, without exclusively limiting to the economic dimension of sustainable development. This paper aims to offer a vision on the e-commerce based on an optimistic approach of the...

The paper studies the patent productivity of scientists over their life cycle. The incentives for patenting and for publishing are compared and how they shape life cycle productivity. In most empirical studies, publication productivity decreases at the end of the scientific career. In contrast,...

This article presents an empirical and theoretical analysis of environmental innovations in an evolutionary framework. Such an evolutionary analysis enables us to develop a dynamic analysis of environmental innovations emphasizing their multidimensional character and their evolution along...

We develop a dynamic model to analyze the sources and the evolution of social participation and social capital in a growing economy characterized by exogenous technical progress. Starting from the assumption that the well-being of agents basically depends on material and relational goods, we...

This article explores the journal publishing industry in order to shed light on the overall economic consequences of copyright in markets. Since the rationale for copyright is among others to promise some market power to the holder of the successful copyrighted item, it also provides incentives...