This paper is concerned with the effect of the unemployment insurance system and of training programs on unemployment outflow rates disaggregated by sex and two unemployment duration categories. The model is based on a matching function and includes a simple representation of the competition...

This paper tries to bridge the gap between the theoretical and empirical analyses of the aggregate impacts of labor market policies (LMPs). Contrary to previous empirical studies, we conduct an econometric analysis based on sound theoretical foundations. The specification is based on an...

This paper is concerned with the general equilibrium effects of active labor market programs and the unemployment insurance system (the replacement ratio and the level of sanctions). It develops an equilibrium job matching model where active programs and the rate of sanctions have an amiguous...

This paper attempts to model the relationship between monetary policy and financial asset prices. We develop an aggregative model under forward-looking rational expectations to analyse the optimal monetary policy response to stock prices and exchange rates shocks. We first demonstrate that a...

This paper deals with some issues that recently arised from the puzzling evolution of Stock Markets during the nineties, in particular from the sharp increase of equity prices on the Nasdaq. We examine the hypothesis according to which such a bullish market could be explained by investors'...

This paper is interested in the modeling of the relationship between active and passive labor market policies and the aggregate unemployment outflow rate. The authors' model is based on a matching function and includes a simple representation of the competition between various groups of job...

Le ratio de surplus primaire qui est exigé pour stabiliser le ratio de dette publique dépend du taux de croissance nominal futur du PIB et des taux d’intérêts implicites. Le tableau suivant montre les ratios de surplus primaires qui sont exigés pour le Portugal pour différentes...

The primary surplus ratio which is required to stabilize the public debt ratio depends on assumptions about the future rate of growth of nominal GDP and implicit interest rates levels. Under the official scenario of a long term nominal growth rate of 4% and an unchanged implicit interest rate of...

L'objectif de cet article est d'analyser le coût et l'impact des programmes conditionnel de secours en faveur de la Grèce, l'Irlande, le Portugal, l'Espagne et Chypre. L'exposition à chaque pays bénéficiaire est répartie entre les différents pays contributeurs. Ensuite, on commente la...

On May 2 the ECB has decreased the interest rate on the main refinancing operations of the Eurosystem by 25 basis points, to 0.50%, starting from the operation to be settled on 8 May 2013. The interest rate on the marginal lending facility will also be decreased by 50 basis points, to 1.00%....