In the rural health-care organization of China, township hospitals ensure the delivery of basic medical services. Particularly damaged by the economic reforms implemented from 1975 to the end of the 1990s, township hospitals efficiency is questioned, mainly with the implementation since 2003 of...

The efficient frontier is a core concept in Modern Portfolio Theory. Based on this idea, we will construct optimal trading curves for different types of portfolios. These curves correspond to the algorithmic trading strategies that minimize the expected transaction costs, i.e. the joint effect...

Le passage de la sphère financière à la sphère réelle lors des crises économiques a pour conséquence un effet de dominos qui accélère la propagation des crises. Pourtant certaines entreprises résistent mieux que d'autres, limitant ainsi la propagation, et l'efficacité des pratiques de...

This paper presents the results of an econometric analysis of the conditional probability of leaving unemployment for four waves of French married men and women entering unemployment from 1991 to 2002. The effect of spouse's hourly earnings on unemployment duration is found to be asymmetric for...

We present a new model of loss processes in insurance. The process is a couple $(N, \, L)$ where $N$ is a univariate Markov-modulated Poisson process (MMPP) and $L$ is a multivariate loss process whose behaviour is driven by $N$. We prove the strong consistency of the maximum likelihood...

In a dynamic general equilibrium model with endogenous markups and labor market frictions, we investigate the effects of increased product market competition. Unlike most macroeconomic models of search, we endogenize the labor supply along the extensive margin. We show that beneficial effects in...

Since the creation of the European Union Emissions Trading Scheme (EU ETS) in 2005, a burgeoning academic literature has emerged to identify the factors that shape the price of carbon, where one European Union Allowance is equal to one ton of CO2-equivalent emitted in the atmosphere. Thus, there...

The aim of this article is to answer the following question: can the considerable rise in the volatility of the LAC stock markets in the aftermath of the 2007/2008 crisis be explained by the worsening financial environment in the US markets? To this end, we rely on a time-varying transition...

L'ouvrage collectif " conflits et pouvoirs dans les institutions du capitalisme ", réalisé sous la direction de Frédéric Lordon , présente la dynamique des rapports sociaux (le rapport de propriété, le rapport marchand-monétaire, le rapport salarial) du capitalisme en pensant les...

At the end of the 1960s, the U.S. divorce laws underwent major changes and the divorce rate more than doubled in all of the states. The new laws introduced unilateral divorce in most of the states and changes in divorce settlements in every state, such as property division, alimony transfers,...