This paper analyzes the decision of a migrant to return or stay within the framework of a signaling model withexogenous migratory costs. If employers have only imperfect information about the type of a worker and goodworkers migrate, bad workers might copy their strategy in order to get the same...

Dans cet article, après avoir présenté les notions de bénéfice certain et d'équivalent certain de Luenberger (qui généralisent au cas du risque les notions de surplus distribuable et de surplus équivalent de Allais), nous en dérivons les identités classiques utilisées pour l'étude...

Using data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment. We show that the impact of financial variables depends strongly on the labour market context. Increased market capitalization as well as decreased...

Since 2002 Russian metallurgical firms have been investing abroad. Taking advantage of the very positive economic climate in the sector, they settle in peripheral as well as in core countries of the world economy. Russia has upgraded from the 50th to the 24th rank between 1995 and 2004 as far as...

Ce papier étudie l'impact des principaux chocs externes qu'a connu la zone euro et ses pays membres depuis le début des années 2000 : chocs monétaire (baisse des taux d'intérêts mondiaux), financier (deux crises boursières) et réel (augmentation des prix du pétrole et accumulation de...

The paper states that, although Post Keynesian interest rules may be feasible and sustainable in favourable circumstances, there is a shared difficulty as for the setting of long-term interest rates in a context of strong uncertainty and shifting liquidity preference. According to Keynes theory...

Labour Market and Economic Growth in AlgeriaBetween 1990 and 1997, the rate of unemployment in Algeria doubled, reacching more than 20 % of the working population. If since 2004 a sensitive decline was recorded, it mainly seems to reflect the extension of the informal sector, which represents...

We analyze the incentives of a controlling shareholder of a firm to acquire, directly or indirectly through his firm, shares in a competitor. We charaterize the conditions under which these partial acquisitions as well as the equilibrium toehold and its nature: controlling or silent. We find...

The growth regime which prevailed in France since the middle of the 1980s is characterised by a recovery of profitability without durable resumption of growth or accumulation of productive capital. The financialization of this growth regime can be read in firms' balance sheet structure with...

Orthodox economics rests on the belief that if markets were fully competitive, there would be general efficiency. The current financial malfunctions, accordingly, would not result from free competition, but rather from insufficient competition. This statement is strong, for it rests on a...