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445
Rigidité normale, dévaluation et équilibre général intertemporel
La présente étude analyse les effets dynamiques de la dévaluation du franc CFA, à l’aide d’un modèle monétaire d’équilibre général, intertemporel et multisectoriel. L’accent est particulièrement mis sur les interactions entre dévaluation et accumulation du capital. Dans le modèle, les effets du changement de parité pas...
[ "équilibre général appliqué", "dévaluation", "optimisation intertemporelle" ]
fr , en
446
Explaining the Persistence of Commodity Prices
This paper extends the Competitive Storage Model by incorporating prominent features of the production process and financial markets. A major limitation of this basic model is that it cannot successfully explain the degree of serial correlation observed in actual data. The proposed extensions build on the observation t...
[ "nonlinear models", "persistence", "gestation lags", "convenience yield", "precautionary demand", "modèles non linéaires", "persistance", "délais de gestation", "gain en utilité", "motif de précaution" ]
en , fr
448
Statistical Inference for Computable General Equilibrium Models with Application to a Model of the Moroccan Economy
We study the problem of measuring the uncertainty of CGE (or RBC)-type model simulations associated with parameter uncertainty. We describe two approaches for building confidence sets on model endogenous variables. The first one uses a standard Wald-type statistic. The second approach assumes that a confidence set (sam...
[ "calibration", "projection", "confidence interval", "confidence set", "computable general equilibrium models", "sensitivity analysis", "calibration", "projection", "Morocco", "fiscal policy", "intervalle de confiance", "région de confiance", "modèle d’équilibre général calculable", "analys...
en , fr
449
Décentralisation financière et pays en dévelopement: concepts, mesure et évaluation
Ce texte présente ce qu’est la décentralisation fiscale, fait ressortir ses forces et ses faiblesses et identifie les raisons de son succès, le tout dans le contexte de huit pays en développement en faisant appel à de l’information sur l’Argentine, la Chine, la Colombie, l’Inde, l’Indonésie, le Maroc, le Pakistan et la...
[ "décentralisation financière", "pays en développement", "gouvernements locaux" ]
fr , en
450
Tests of Conditional Asset Pricing Models in the Brazilian Stock Market
In this paper, we test a version of the conditional CAPM with respect to a local market portfolio, proxied by the Brazilian stock index during the 1976-1992 period. We also test a conditional APT model by using the difference between the 30-day rate (Cdb) and the overnight rate as a second factor in addition to the mar...
[ "conditional CAPM", "conditional APT", "efficiency of markets", "time-varying risk and returns", "CAPM conditionnel", "APT conditionnel", "efficacité des marchés", "risque et rendements variables dans le temps" ]
en , fr
451
How do Young People Choose College Majors?
Previous studies on the determinants of the choice of college major have assumed a constant probability of success across majors or a constant earnings stream across majors. Our model disregards these two restrictive assumptions in computing an expected earnings variable to explain the probability that a student will c...
[ "college majors", "expected idiosyncratic earnings", "mixed multinominal logit model", "choix de filières", "revenus anticipés idiosyncratiques", "modèle polytomique mixte" ]
en , fr
452
Risk Aversion, Intertemporal Substitution, and Option Pricing
This paper develops a general stochastic framework and an equilibrium asset pricing model that make clear how attitudes towards intertemporal substitution and risk matter for option pricing. In particular, we show under which statistical conditions option pricing formulas are not preference-free, in other words, when p...
[ "causality", "hidden Markov chains", "non-separable utility", "equilibrium option pricing", "recursive utility", "Black-Scholes implicit volatility", "smile effect", "causalité", "chaînes de Markov cachées", "utilité non séparable", "évaluation d’options par modèle d’équilibre", "utilité récur...
en , fr
453
Political Influence, Economic Interests and Endogenous Tax Structure in a Computable Equilibrium Framework: with Applicatioon to the United States, 1973 and 1983
A full understanding of public affairs requires the ability to distinguish between the policies that voters would like the government to adopt, and the influence that different voters or group of voters actually exert in the democratic process. We consider the properties of a computable equilibrium model of a competiti...
[ "GEMTAP", "political competition", "probabilistic voting", "political influence", "tax policy", "public goods", "GEMTAP", "computable equilibrium", "concurrence politique", "vote probabiliste", "influence politique", "politique de taxation", "biens publics", "GEMTAP", "équilibre général ...
en , fr
455
Efficient Strategy-Proof Allocation Functions in Linear Production Economies
In a linear production model, we characterize the class of efficient and strategy-proof allocation functions, and the class of efficient and coalition strategy-proof allocation functions. In the former class, requiring equal treatment of equals allows us to identify a unique allocation function. This function is also t...
[ "strategy-proofness", "efficiency", "linear production set", "non-manipulabilité", "efficacité", "ensemble de production linéaire" ]
en , fr
456
Non-Commitment and Savings in Dynamic Risk-Sharing Contracts
We characterize the solution to a model of consumption smoothing using financing under non-commitment and savings. We show that, under certain conditions, these two different instruments complement each other perfectly. If the rate of time preference is equal to the interest rate on savings, perfect smoothing can be ac...
[ "non-engagement", "savings", "consumption", "dynamic risk sharing", "non-commitment", "épargne", "consommation", "partage de risque dynamique" ]
en , fr
457
Computation and Analysis of Multiple Structural-Change Models
In a recent paper, Bai and Perron (1998) considered theoretical issues related to the limiting distribution of estimators and test statistics in the linear model with multiple structural changes. In this companion paper, we consider practical issues for the empirical applications of the procedures. We first address the...
[ "dynamic programming", "partial structural change", "hypothesis testing", "multiple regimes", "breaks", "model selection", "regression model", "programmation dynamique", "changement structurel partiel", "tests d'hypothèses", "régimes multiples", "ruptures", "sélection de modèle", "modèle d...
en , fr
463
Quadratic M-Estimators for ARCH-Type Processes
This paper addresses the issue of estimating semiparametric time series models specified by their conditional mean and conditional variance. We stress the importance of using joint restrictions on the mean and variance. This leads us to take into account the covariance between the mean and the variance and the variance...
[ "GMM", "M-estimator", "QMLE", "GMM", "heteroskedasticity", "conditional skewness and kurtosis", "M-estimateur", "EPMV", "GMM", "hétéroscédasticité", "\\\"skewness\\\" et \\\"kurtosis\\\" conditionnelles", "GMM" ]
en , fr
464
Asymptotic Approximations in the Near-Integrated Model with a Non-Zero Initial Condition
This paper considers various asymptotic approximations in the near-integrated firstorder autoregressive model with a non-zero initial condition. We first extend the work of Knight and Satchell (1993), who considered the random walk case with a zero initial condition, to derive the expansion of the relevant joint moment...
[ "Edgeworth expansion", "continuous-time asymptotics", "stochastic expansion", "distribution function", "autoregressive model", "expansion d'Edgeworth", "asymptotiques en temps continu", "expansion stochastique", "fonction de répartition", "modèle autorégressif" ]
en , fr
465
Sampling Interval and estimated Betas : Implications for the Presence of Transitory Components in Stock Prices
We provide a theoretical framework to explain the empirical finding that the estimated betas are sensitive to the sampling interval even when using continuously compounded returns. We suppose that stock prices have both permanent and transitory components. The permanent component is a standard geometric Brownian motion...
[ "processus d'Ornstein-Uhlenbeck", "stochastic differential equations", "Wiener process", "market efficiency", "meanreversion", "Ornstein-Uhlenbeck process", "équations différentielles stochastiques", "processus de Wiener", "efficacité des marchés", "retour à la moyenne" ]
en , fr
466
The FCLT with Dependent Errors: an Helicopter Tour of the Quality of the Approximation
This note investigates the adequacy of the finite-sample approximation provided by the Functional Central Limit Theorem (FCLT) when the errors are allowed to be dependent. We compare the distribution of the scaled partial sums of some data with the distribution of the Wiener process to which it converges. Our setup is ...
[ "corrélation temporelle", "Wiener process", "Brownian bridge", "distribution function", "serial correlation", "asymptotic approximation", "processus de Wiener", "pont brownien", "fonction de répartition", "approximation asymptotique" ]
en , fr
468
Semi-Parametric Weak Instrument Regressions with an Application to the Risk-Return Trade-off
Recent work shows that a low correlation between the instruments and the included variables leads to serious inference problems. We extend the local-to-zero analysis of models with weak instruments to models with estimated instruments and regressors and with higher-order dependence between instruments and disturbances....
[ "anticipations", "instrumental variables", "weak instruments", "local-to-zero analysis", "LM tests", "Wald tests", "risk premium", "expectations", "semi-parametric models", "neural networks", "variables instrumentales", "instruments faibles", "analyse locale à zéro", "tests du multiple de ...
en , fr
469
Coherent Cost-Sharing Rules
We reconsider the discrete version of the axiomatic cost-sharing model. We propose a condition of (informational) coherence requiring that not all informational refinements of a given problem be solved differently from the original problem. We prove that strictly coherent linear cost-sharing rules must be simple random...
[ "cost sharing", "additivity", "random order", "partage de coûts", "additivité", "ordre aléatoire" ]
en , fr
471
Sector-Specific Training and Mobility in Germany
This article studies mobility patterns of German workers in light of a model of sector-specific human capital. Furthermore, I employ and describe little-used data on continuous on-the-job training occurring after apprenticeships. Results are presented describing the incidence and duration of continuous training. Contin...
[ "on-the-job training", "employment duration", "sectoral mobility", "industry-specific human capital", "multinomial models", "formation en lieu de travail", "durée de l'emploi", "mobilité sectorielle", "capital humain spécifique au secteur", "modèles multinomiaux" ]
en , fr
472
Wage Flexibility and Contract Structure in Germany
In this paper, we look at how labor market conditions at different points during the tenure of individuals with firms are correlated with current earnings. Using data on individuals from the German Socioeconomic Panel for the 1985-1994 period, we find that both the contemporaneous unemployment rate and prior values of ...
[ "wage curve", "implicit contracts", "wages structure", "Germany", "courbe de salaire", "contrats implicites", "structure des salaires", "Allemagne" ]
en , fr
473
Sector-Specific on-the-Job Training: Evidence from U.S. Data
Using data from the National Longitudinal Survey of Youth (NLSY), we re-examine the effect of formal on-the-job training on mobility patterns of young American workers. By employing parametric duration models, we evaluate the economic impact of training on productive time with an employer. Confirming previous studies, ...
[ "on-the-job training", "employment duration", "sectoral mobility", "industry-specific human capital", "parametric duration models", "competing risks model", "formation sur le tas", "durée de l'emploi", "mobilité sectorielle", "capital humain spécifique au secteur", "modèles de durée paramétrique...
en , fr
475
The Shape of the Risk Premium: Evidence from a Semiparametric Garch Model
We examine the relationship between the risk premium on the S&P 500 index return and its conditional variance. We use the SMEGARCH - Semiparametric-Mean EGARCH - model in which the conditional variance process is EGARCH while the conditional mean is an arbitrary function of the conditional variance. For monthly S&P 500...
[ "ARCH models", "asset pricing", "backfitting", "Fourier series", "risk premium", "modèles ARCH", "évaluation d'actifs", "séries Fourier", "noyau", "prime de risque", "kernel" ]
en , fr
477
Distortionary Taxation and Labor Supply: Evidence from Canada
This paper examines empirically the effects of distortionary taxation on labor supply using a general equilibrium framework. The long-term relations predicted by the model are derived and tested using Canadian data between 1966 and 1993. While the cointegrating predictions of the model without taxation are rejected, th...
[ "Canada", "labor taxation", "labor supply", "cointegration", "Canada", "taxation du travail", "offre de travail", "coïntégration" ]
en , fr
478
The Inflation Bias When the Central Bank Targets, the Natural Rate of Unemployment
This paper studies the proposition that an inflation bias can arise in a setup where a central banker with asymmetric preferences targets the natural unemployment rate. Preferences are asymmetric in the sense that positive unemployment deviations from the natural rate are weighted more (or less) severely than negative ...
[ "inflation bias", "asymmetric preferences", "biais inflationniste", "préférences asymétriques" ]
en , fr
483
Inter-temporal Price Discrimination when Imports are Restricted by Quotas
A dominant firm holding import quota engages in inter-temporal price discrimination when facing a competitive fringe engaged in seasonal production. This causes a welfare loss that comes in addition the loss attributable to limitation of imports below the free trade level.
[ "quota", "monopoly", "discrimination", "dominance", "dynamic" ]
en
484
Les cycles économiques et la science économique
Cette communication situe la théorie des grands cycles économiques dans le contexte général des économies de marché. Il y est postulé que le cycle financier et économique international de longue période (50-60 ans) n'est pas une aberration statistique, mais est le résultat de conditions institutionnelles, politiques, f...
[ "cycle économique", "inflation bousière", "sur-endettement", "déflation monétaire", "ralentissement économique", "récession", "dépression" ]
fr
485
Testing Normality : A GMM Approach
In this paper, we consider testing marginal normal distributional assumptions. More precisely, we propose tests based on moment conditions implied by normality. These moment conditions are known as the Stein (1972) equations. They coincide with the first class of moment conditions derived by Hansen and Scheinkman (1995...
[ "Normality", "Stein-Hansen-Scheinkman equation", "GMM", "Hermite polynomials", "parameter uncertainty", "HAC", "OPG regression" ]
en
487
Maximal-Element Rationalizability
We examine the maximal-element rationalizability of choice functions with arbitrary do-mains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier litera-ture, this is not the case for maximal-element ration...
[ "Choice Functions", "Maximal-Element Rationalizability" ]
en
488
Testing Mean-Variance Efficiency in CAPM with Possibly Non-Gaussian Errors : An Exact Simulation-Based Approach
In this paper we propose exact likelihood-based mean-variance efficiency tests of the market portfolio in the context of Capital Asset Pricing Model (CAPM), allowing for a wide class of error distributions which include normality as a special case. These tests are developed in the frame-work of multivariate linear regr...
[ "CAPM", "test exact", "bootstrap", "GARCH", "capital asset pricing model", "CAPM", "mean-variance efficiency", "non-normality", "multi-variate linear regression", "uniform linear hypothesis", "exact test", "Monte Carlo test", "bootstrap", "nuisance parameters", "specification test", "d...
en , fr
489
Testing for a Unit Root in Panels with Dynamic Factors
This paper studies testing for a unit root for large n and T panels in which the cross-sectional units are correlated. To model this cross-sectional correlation, we assume that the data is generated by an unknown number of unobservable common factors. We propose unit root tests in this environment and derive their (Gau...
[ "unit roots", "panel data", "factor models", "racines unitaires", "données de panels", "modèles à facteurs" ]
en , fr
492
Harsanyi’s Social Aggregation Theorem : A Multi-Profile Approach with Variable-Population Extensions
This paper provides new versions of Harsanyi’s social aggregation theorem that are formulated in terms of prospects rather than lotteries. Strengthening an earlier result, fixed-population ex-ante utilitarianism is characterized in a multi-profile setting with fixed probabilities. In addition, we extend the social aggr...
[ "Harsanyi’s social aggregation theorem", "multi-profile social choice", "population ethics" ]
en
496
Correcting the Errors : A Note on Volatility Forecast Evaluation Based on High-Frequency Data and Realized Volatilities
This note develops general model-free adjustment procedures for the calculation of unbiased volatility loss functions based on practically feasible realized volatility benchmarks. The procedures, which exploit the recent asymptotic distributional results in Barndorff-Nielsen and Shephard (2002a), are both easy to imple...
[ "measurement errors", "model-free adjustment procedures", "integrated volatility", "realized volatility", "high-frequency data", "time series forecasting", "Mincer-Zarnowitz regressions", "erreurs de mesure", "méthode d’ajustement", "volatilité intégrée", "volatilité réalisée", "données à haut...
en , fr
497
Finite-Sample Diagnostics for Multivariate Regressions with Applications to Linear Asset Pricing Models
In this paper, we propose several finite-sample specification tests for multivariate linear regressions (MLR) with applications to asset pricing models. We focus on departures from the assumption of i.i.d. errors assumption, at univariate and multivariate levels, with Gaussian and non-Gaussian (including Student t) err...
[ "CAPM", "boot-strap", "diagnostics", "GARCH", "capital asset pricing model", "CAPM", "mean-variance efficiency", "non-normality", "multivariate linear regression", "uniform linear hypothesis", "exact test", "Monte Carlo test", "bootstrap", "nuisance parameters", "specification test", "...
en , fr
499
Projection-Based Statistical Inference in Linear Structural Models with Possibly Weak Instruments
It is well known that standard asymptotic theory is not valid or is extremely unreliable in models with identification problems or weak instruments [Dufour (1997, Econometrica), Staiger and Stock (1997, Econometrica), Wang and Zivot (1998, Econometrica), Stock and Wright (2000, Econometrica), Dufour and Jasiak (2001, I...
[ "variable instrumentale", "test", "projection", "Simultaneous equations", "structural model", "instrumental variable", "weak instrument", "confidence interval", "testing", "projection", "simultaneous inference", "exact inference", "asymptotic theory", "équations simultanées", "modèle str...
en , fr
500
Méthodes d’inférence exactes pour un modèle de régression avec erreurs AR(2) gaussiennes
Ce texte propose des méthodes d’inférence exactes (tests et régions de confiance) sur des modèles de régression linéaires avec erreurs autocorrélées suivant un processus autorégressif d’ordre deux [AR(2)], qui peut être non stationnaire. L’approche proposée est une généralisation de celle décrite dans Dufour (1990) pou...
[ "régression linéaire", "AR(2)", "région de confiance exacte", "test induit", "test à borne généralisé", "projection", "masse monétaire", "M2", "niveau des prix", "autocorrélation", "AR(2)", "test exact", "projection", "M2" ]
fr , en
501
Identification, Weak Instruments and Statistical Inference in Econometrics
We discuss statistical inference problems associated with identification and testability in econometrics, and we emphasize the common nature of the two issues. After reviewing the relevant statistical notions, we consider in turn inference in nonparametric models and recent developments on weakly identified models (or ...
[ "identification", "Bahadur-Savage", "variable instrumentale", "projection", "bootstrap", "hypothesis testing", "confidence set", "confidence interval", "identification", "testability", "asymptotic theory", "exact inference", "pivotal function", "nonparametric model", "Bahadur-Savage", ...
en , fr
502
Efficient Priority Rules
We study the assignment of indivisible objects with quotas (houses, jobs, or offices) to a set of agents (students, job applicants, or professors). Each agent receives at most one object and monetary compensations are not possible. We characterize efficient priority rules by efficiency, strategy-proofness, and realloca...
[ "acyclical priority structures", "indivisible objects" ]
en
503
Resource-Monotonicity for House Allocation Problems
We study a simple model of assigning indivisible objects (e.g., houses, jobs, offices, etc.) to agents. Each agent receives at most one object and monetary compensations are not possible. We completely describe all rules satisfying efficiency and resource-monotonicity. The characterized rules assign the objects in a se...
[ "indivisible objects", "resource-monotonicity" ]
en
505
Short run and long run causality in time series: Inference
We propose methods for testing hypotheses of non-causality at various horizons, as defined in Dufour and Renault (1998, Econometrica). We study in detail the case of VAR models and we propose linear methods based on running vector autoregressions at different horizons. While the hypotheses considered are nonlinear, the...
[ "time series", "Granger causality", "indirect causality", "multiple horizon causality", "autoregression", "autoregressive model", "vector autoregression", "VAR", "stationary process", "nonstationary process", "integrated process", "unit root", "extended autoregression", "bootstrap", "mac...
en , fr
509
Yesterday’s Games: Contingency Learning and the Growth of Public Spending, 1890-1938
Neither democracy nor globalization can explain the doubling of the peacetime public share in many Western countries between World Wars I and II. Here we examine two other explanations that are consistent with the timing of the observed changes, namely, (1) a shift in the demand for public goods and (2) the effect of w...
[ "Wagner's Law", "war", "government expenditures", "democracy", "globalization" ]
en
511
The Backing of Government Debt and the Price Level
This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. The government is characterized by a long-run fiscal policy rule whereby a given fraction of the outstanding debt, say d, is backed by the present discounted value of current and fu...
[ "Ricardian/Non-Ricardian regimes", "policy rules", "central banking", "régimes ricardiens et non ricardiens", "règles de politique", "banque centrale" ]
en , fr
512
Methods to Estimate Dynamic Stochastic General Equilibrium Models
This paper employs the one-sector Real Business Cycle model as a testing ground for four different procedures to estimate Dynamic Stochastic General Equilibrium (DSGE) models. The procedures are: 1 ) Maximum Likelihood, with and without measurement errors and incorporating Bayesian priors, 2) Generalized Method of Mome...
[ "DSGE models", "estimation methods", "Monte Carlo analysis", "stochastic sin- gularity", "Bayesian priors", "modèles EGDS", "méthodes d'estimation", "simulations de Monte-Carlo", "singularité stochastique", "cadre bayésien" ]
en , fr
513
Nonlinear Monetary Policy Rules: Some New Evidence for the U.S.
This paper derives optimal monetary policy rules in setups where certainty equivalence does not hold because either central bank preferences are not quadratic, and/or the aggregate supply relation is nonlinear. Analytical results show that these features lead to sign and size asymmetries, and nonlinearities in the poli...
[ "nonlinear Taylor rules", "inflation targets", "asymmetric preferences", "non- linear Phillips curve", "monetary policy", "règles de Taylor non linéaires", "objectifs d'inflation", "préférences asymétriques", "courbe de Phillips non linéaire", "politique monétaire" ]
en , fr
514
Deprivation and Social Exclusion
Social exclusion manifests itself in the lack of an individual’s access to functionings as compared to other members of society. Thus, the concept is closely related to deprivation. We view deprivation as having two basic determinants: the lack of identification with other members of society and the aggregate alienatio...
[ "Social Exclusion", "Deprivation", "Equity" ]
en
515
Temporary Natural Resource Cartels
We analyze the behavior of a nonrenewable resource cartel that anticipates being forced, at some date in the future, to break-up into an oligopolistic market in which its members will then have to compete as rivals. Under reasonable assumptions about the value function of the individual firms in the oligopolistic equil...
[ "Cartels", "dissolution", "nonrenewable natural resources" ]
en
517
The Macroeconomic Effects of Infrequent Information with Adjustment Costs
In the last decade, the potential macroeconomic effects of intermittent large adjustments in microeconomic decision variables such as prices, investment, consumption of durables or employment – a behavior which may be justified by the presence of kinked adjustment costs – have been studied in models where economic agen...
[ "macroeconomic effects of infrequent information", "adjustment costs", "state dependent and time dependent rules", "effets macroéconomiques d’information intermittente", "coûts d’ajustement", "règles de décision optimales avec coûts d’ajustement" ]
en , fr
520
Interpersonal Comparisons of Well-Being
This paper, which is to be published as a chapter in the Oxford Handbook of Political Economy, provides an introduction to social-choice theory with interpersonal comparisons of well-being. We argue that the most promising route of escape from the negative conclusion of Arrow’s theorem is to use a richer informational ...
[ "Arrow’s theorem", "social choice with interpersonal utility comparisons", "welfarism" ]
en
523
Aumann-Shapley Pricing : A Reconsideration of the Discrete Case
We reconsider the following cost-sharing problem: agent i = 1,...,n demands a quantity xi of good i; the corresponding total cost C(x1,...,xn) must be shared among the n agents. The Aumann-Shapley prices (p1,...,pn) are given by the Shapley value of the game where each unit of each good is regarded as a distinct player...
[ "Cost sharing", "Aumann-Shapley pricing", "merging", "splitting" ]
en
525
Reference Groups and Individual Deprivation
We provide an axiomatization of Yitzhaki’s index of individual deprivation. Our result differs from an earlier characterization due to Ebert and Moyes in the way the reference group of an individual is represented in the model. Ebert and Moyes require the index to be defined for all logically possible reference groups,...
[ "Income distribution", "deprivation", "equity" ]
en
526
The Ghost in the Machine: Inferring Machine-Based Strategies from Observed Behavior
We introduce a procedure to infer the repeated-game strategies that generate actions in experimental choice data. We apply the technique to set of experiments where human subjects play a repeated Prisoner's Dilemma. The technique suggests that two types of strategies underly the data.
[ "strategy inference", "Bayesian methods", "experimental economics", "Prisoner's Dilemma", "repeated games" ]
en
528
Relative Uncertainty and Additively Representable Set Rankings
This paper proposes a definition of relative uncertainty aversion for decision models under complete uncertainty. It is shown that, for a large class of decision rules characterized by a set of plausible axioms, the new criterion yields a complete ranking of those rules with respect to the relative degree of uncertaint...
[ "Choice under complete uncertainty", "uncertainty aversion", "additive representability" ]
en
529
Nearly Serial Sharing Methods
A group of agents participate in a cooperative enterprise producing a single good. Each participant contributes a particular type of input; output is nondecreasing in these contributions. How should it be shared? We analyze the implications of the axiom of Group Monotonicity: if a group of agents simultaneously decreas...
[ "surplus sharing", "cost sharing", "group monotonicity", "serial method" ]
en
531
Economic Development under Alternative Trade Regimes
How does openness affect economic development? This question is answered in the context of a dynamic general equilibrium model of the world economy, where countries have technological differences that are both sector-neutral and specific to the investment goods sector. Relative to a benchmark case of trade in credit ma...
[ "Economic Development", "International Trade", "Investment-Specific Technology", "Quantitative Dynamic General Equilibrium", "Incomplete Markets" ]
en
532
Monte Carlo Tests with Nuisance Parameters: A General Approach to Finite-Sample Inference and Nonstandard Asymptotics
The technique of Monte Carlo (MC) tests [Dwass (1957), Barnard (1963)] provides an attractive method of building exact tests from statistics whose finite sample distribution is intractable but can be simulated (provided it does not involve nuisance parameters). We extend this method in two ways: first, by allowing for ...
[ "Monte Carlo test", "maximized monte Carlo test", "finite sample test", "exact test", "nuisance parameter", "bounds", "bootstrap", "parametric bootstrap", "simulated annealing", "asymptotics", "nonstandard asymptotic distribution" ]
en
533
Exact Multivariate Tests of Asset Pricing Models with Stable Asymmetric Distributions
In this paper, we propose exact inference procedures for asset pricing models that can be formulated in the framework of a multivariate linear regression (CAPM), allowing for stable error distributions. The normality assumption on the distribution of stock returns is usually rejected in empirical studies, due to excess...
[ "capital asset pricing model", "mean-variance efficiency", "non-normality", "multivariate linear regression", "stable distribution", "skewness", "kurtosis", "asymmetry", "uniform linear hypothesis", "exact test", "Monte Carlo test", "nuisance parameter", "specification test", "diagnostics"...
en
534
Distribution-Free Bounds for Serial Correlation Coefficients in Heteroskedastic Symmetric Time Series
We consider the problem of testing whether the observations X1, ..., Xn of a time series are independent with unspecified (possibly nonidentical) distributions symmetric about a common known median. Various bounds on the distributions of serial correlation coefficients are proposed: exponential bounds, Eaton-type bound...
[ "autocorrelation", "serial dependence", "nonparametric test", "distribution-free test", "heterogeneity", "heteroskedasticity", "symmetric distribution", "robustness", "exact test", "bound", "exponential bound", "large deviations", "Chebyshev inequality", "Berry-Esséen", "interest rates" ...
en
536
Tests multiples simulés et tests de normalité basés sur plusieurs moments dans les modèles de régression
Cet article illustre l’applicabilité des méthodes de rééchantillonnage dans le cadre des tests multiples (simultanés), pour divers problèmes économétriques. Les hypothèses simultanées sont une conséquence habituelle de la théorie économique, de sorte que le contrôle de la probabilité de rejet de combinaisons de tests e...
[ "régression linéaire", "test de normalité", "ajustement", "asymétrie", "aplatissement", "moments d’ordre supérieur", "Monte Carlo", "test induit", "combinaison de tests", "inférence simultanée", "Tippett", "Fisher", "Pearson", "SURE", "test d’hétéroscédasticité" ]
fr
537
Consistent House Allocation
In practice we often face the problem of assigning indivisible objects (e.g., schools, housing, jobs, offices) to agents (e.g., students, homeless, workers, professors) when monetary compensations are not possible. We show that a rule that satisfies consistency, strategy-proofness, and efficiency must be an efficient g...
[ "indivisible objects", "priority structure", "consistency", "strategy-proofness" ]
en
538
Asymptotic Distribution of a Simple Linear Estimator for VARMA Models in Echelon Form
In this paper, we study the asymptotic distribution of a simple two-stage (Hannan-Rissanen-type) linear estimator for stationary invertible vector autoregressive moving average (VARMA) models in the echelon form representation. General conditions for consistency and asymptotic normality are given. A consistent estimato...
[ "Time series", "VARMA", "stationary", "invertible", "echelon form", "estimation", "asymptotic normality", "bootstrap", "Hannan-Rissanen" ]
en
539
Dynamic Measures of Individual Deprivation
We introduce and axiomatize a one-parameter class of individual deprivation measures. Motivated by a suggestion of Runciman, we modify Yitzhaki’s index by multiplying it by a function that is interpreted as measuring the part of deprivation generated by an agent’s observation that others in its reference group move on ...
[ "Deprivation", "Equity", "Individual Well-Being" ]
en
540
Von Neumann-Morgenstern Stable Sets in Matching Problems
The following properties of the core of a one well-known: (i) the core is non-empty; (ii) the core is a lattice; and (iii) the set of unmatched agents is identical for any two matchings belonging to the core. The literature on two-sided matching focuses almost exclusively on the core and studies extensively its propert...
[ "Matching Problem", "Von Neumann-Morgenstern Stable Sets" ]
en
541
Finite-Sample Simulation-Based Inference in VAR Models with Applications to Order Selection and Causality Testing
Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number of lags or the number o...
[ "Vector autoregression", "VAR", "exact test", "Monte Carlo test", "maximized Monte Carlo test", "bootstrap", "Granger causality", "order selection", "nonstationary model", "macroeconomics", "money and income", "interest rate", "inflation" ]
en
542
Rational Choice on Arbitrary Domains: A Comprehensive Treatment
The rationalizability of a choice function on arbitrary domains by means of a transitive relation has been analyzed thoroughly in the literature. Moreover, characterizations of various versions of consistent rationalizability have appeared in recent contributions. However, not much seems to be known when the coherence ...
[ "Rational Choice", "Quasi-Transitivity", "P-Acyclicity" ]
en
543
Choosing Wisely: The Natural Multi-Bidding Mechanism
Pérez-Castrillo and Wettstein (2002) propose a multi-bidding mechanism to determine a winner from a set of possible projects. The winning project is implemented and its surplus is shared among the agents. In the multi-bidding mechanism each agent announces a vector of bids, one for each possible project, that are const...
[ "(natural) multi-bidding mechanism", "existence", "efficiency" ]
en
544
On Limits to the Use of Linear Markov Strategies in Common Property Natural Resource Games
We derive conditions that must be satisfied by the primitives of the problem in order for an equilibrium in linear Markov strategies to exist in some common property natural resource differential games. These conditions impose restrictions on the admissible form of the natural growth function, given a benefit function,...
[ "common property", "natural resources", "differential games", "linear Markov strategies" ]
en
545
The Transmission of Monetary Policy in a Multi-Sector Economy
This paper constructs and estimates a sticky-price, Dynamic Stochastic General Equilibrium model with heterogenous production sectors. Sectors differ in price stickiness, capital-adjustment costs and production technology, and use output from each other as material and investment inputs following an Input-Output Matrix...
[ "Multi-sector models", "sticky-price DGSE models", "monetary policy" ]
en
548
Why Have Aggregate Skilled Hours Become So Cyclical Since the Mid-1980's?
This paper documents and discusses a dramatic change in the cyclical behavior of aggregate hours worked by individuals with a college degree (skilled workers) since the mid-1980’s. Using the CPS outgoing rotation data set for the period 1979:1-2003:4, we find that the volatility of aggregate skilled hours relative to t...
[ "Macroeconomics", "Business Cycles", "Volatility", "Skilled Hours", "Skill Premium", "Capital- Skill Complementarity" ]
en
552
Social Choice: Recent Developments
In the past quarter century, there has been a dramatic shift of focus in social choice theory, with structured sets of alternatives and restricted domains of the sort encountered in economic problems coming to the fore. This article provides an overview of some of the recent contributions to four topics in normative so...
[ "Social Choice", "Arrow’s Theorem", "Gibbard–Satterthwaite Theorem", "Strategy-proofness", "Fairness", "Axiomatic Models of Resource Allocation" ]
en
553
The Dynamic (In)efficiency of Monetary Policy by Committee
This paper develops a model where the value of the monetary policy instrument is selected by a heterogenous committee engaged in a dynamic voting game. Committee members differ in their institutional power and, in certain states of nature, they also differ in their preferred instrument value. Preference heterogeneity a...
[ "Committees", "status-quo bias", "interest-rate smoothing", "dynamic voting" ]
en
554
Consistent Relations
Consistency, a natural weakening of transitivity introduced in a seminal contribution by Suzumura (1976b), has turned out to be an interesting and promising concept in a variety of areas within economic theory. This paper summarizes its recent applications and provides some new observations in welfarist social choice a...
[ "Consistency", "Ordering Extensions", "Rationalizability", "Welfarism", "Population Ethics" ]
en
555
Respecting Priorities when Assigning Students to Schools
We consider the problem of assigning students to schools on the basis of priorities. Students are allowed to have equal priority at a school. We characterize the efficient rules which weakly/strongly respect students’ priorities. When priority orderings are not strict, it is not possible to simply break ties in a fixed...
[ "School Choice", "Equal Priority", "Tie Breaking" ]
en
556
Public Decisions: Solidarity and the Status Quo
A public decision model specifies a fixed set of alternatives A, a variable population, and a fixed set of admissible preferences over A, common to all agents. We study the implications, for any social choice function, of the principle of solidarity, in the class of all such models. The principle says that when the env...
[ "Population-monotonicity", "replacement-domination", "solidarity", "strategy-proofness", "coalition-strategy-proofness", "public decision", "status quo" ]
en
557
Solidarity in Choosing a Location on a Cycle
We study the implications of two solidarity conditions on the efficient location of a public good on a cycle, when agents have single-peaked, symmetric preferences. Both conditions require that when circumstances change, the agents not responsible for the change should all be affected in the same direction: either they...
[ "Location Theory", "Cycle", "Efficiency", "Population-monotonicity", "Replacement-Domination", "Single-Peaked" ]
en
558
Bundling under the Threat of Parallel Trade
This paper examines the use of bundling by a firm that sells in two national markets and faces entry by parallel traders. The firm can bundle its main product, - a tradable good- with a non-traded service. It chooses between the strategies of pure bundling, mixed bundling and no bundling. The paper shows that in the lo...
[ "parallel trade", "bundling", "arbitrage" ]
en
570
Étude du rôle des professionnels de l'information dans les systèmes d'information Web du Gouvernement fédéral canadien
Les professionnels de l'information traversent actuellement une période de redéfinition de leur profession provoquée par la transformation de l'information et des processus informationnels vers un mode de plus en plus électronique. Les systèmes d'information Web (SIW) — c'est-à-dire des systèmes d'information basés sur...
[ "professionnel de l'information", "système d'information Web", "gouvernement fédéral canadien", "information professional", "Web information system", "Canadian federal government" ]
fr , en
571
Économie du document scientifique - Pour des archithécaires
Entre l'adaptation rapide des éditeurs au numérique, la popularité du libre accès et les hésitations des chercheurs, l'explosion du Web 2.0, l'économie du don et l'insolente vitalité des moteurs, une économie de l'édition numérique scientifique se reconfigure. Les institutions documentaires doivent, de leur côté, renou...
[ "Document numérique", "Document scientifique", "Économie de l'édition" ]
fr
573
Les pratiques pédagogiques exemplaires en sciences de l'information : 21 fiches annotées
Ce rapport présente les résultats de projets d'intégration pédagogique réalisés dans le cadre du Comité local d'intégration pédagogique (CLIP) de l'École de bibliothéconomie et des sciences de l'information (EBSI) de l'Université de Montréal. Cet inventaire des pratiques pédagogiques exemplaires (best practices) en sci...
[ "pratiques pédagogiques exemplaires", "enseignement", "sciences de l'information", "bibliothéconomie", "archivistique" ]
fr
575
Analyse des pratiques de lecture sur livres électroniques chez les étudiants universitaires
La lecture numérique prend de plus en plus de place dans l'espace global de la lecture des étudiants. Bien que les premiers systèmes de lecture numérique, communément appelés livres électroniques, datent déjà de plusieurs années, les opinions quant à leur potentiel divergent encore. Une variété de contenus universitair...
[ "lecture numérique", "livres électroniques", "systèmes de lecture numérique", "étudiants universitaires", "stratégies de lecture", "pratiques de lecture", "perceptions des lecteurs", "NetLibrary", "Tablet PC", "electronic reading", "e-books", "e-reading systems", "university students", "re...
fr , en
581
La transformation du rôle de représentante d’aidantes familiales pendant l’hébergement de leur parent atteint de démence : une théorisation ancrée
L'hébergement en centre de soins de longue durée d'un parent âgé atteint de démence marque une transition pour les personnes qui occupent un rôle d’aidant familial principal. Ces personnes, principalement des femmes, poursuivent leur engagement après l’hébergement et souhaitent être impliquées dans les décisions concer...
[ "Représentant", "Représentation", "Démence", "Aidants familiaux", "Hébergement", "Relations infirmière-famille", "Soins de longue durée", "Théorisation ancrée", "Advocate", "Advocacy", "Dementia", "Family caregivers", "Nursing home", "Nurse-family relationship", "Grounded theory", "Sit...
fr , en
598
Access 2005 Edmonton
Court rapport de la conférence Access 2005 tenue à Edmonton, Canada. Résumé des idées et tendances principales exposées. Brief report on the Access Conference 2005 held in Edmonton, Canada. Summary of key ideas and trends presented.
[ "Conférence Access", "Numérisation", "Consortia de bibliothèques", "Moteur de recherche fédérée", "Bibliothèques et technologie", "Access Conference", "Digitization", "Library consortia", "Federated search engine", "Libraries and technology" ]
fr , en
601
Les fils RSS en bibliothèques : pourquoi et comment?
La syndication de contenu, plus connue sous le nom de fils RSS, est une technologie qui permet d’une part, pour les producteurs d’information, de diffuser de façon pratique, hiérarchisée et automatisée des contenus (des « fils ou flux d’information ») et d’autre part, pour les consommateurs d’information, d’effectuer u...
[ "RSS", "Syndication de contenu", "XML", "Bibliothèques", "Diffusion d'information", "Canaux de communication" ]
fr
602
Guide à l'intention de la communauté enseignante et de recherche 2006
Guide des collections et services offerts à la communauté enseignante et de recherche par la Direction des bibliothèques de l'Université de Montréal.
[ "Guide", "Enseignants", "Chercheurs", "Bibliothèques de l'Université de Montréal" ]
fr
603
L’archivistique québécoise ne doit pas s’endormir sur ses lauriers
L'archivistique québécoise se porte bien. Mais il n'est pas sûr que demain la relève soit assurée. Il faut mesurer les besoins à venir et prendre les moyens pour qu'ils soient comblés.
[ "archivistique", "Québec" ]
fr
606
Etude des instabilités d'interface du procédé de coextrusion
Une étude expérimentale et numérique du procédé de coextrusion est abordée dans ce mémoire. On trouve essentiellement les étapes de la conception d'une filière de coextrusion comportant un hublot permettant d'observer l'écoulement en continu. L'expérience est menée avec cette filière afin d'observer des instabilités à ...
[ "non-newtonian fluids", "coextrusion" ]
fr
691
Étude théorique des propriétés électroniques et optiques des super-réseaux de Si/SiO2
FRANCAIS: L'observation d'une intense luminescence dans les super-réseaux de Si/SiO2 a ouvert de nouvelles avenues en recherche théorique des matériaux à base de silicium, pour des applications éventuelles en optoélectronique. Le silicium dans sa phase cristalline possède un gap indirect, le rendant ainsi moins intére...
[ "Matière condensée", "Silicium", "Dioxyde de silicium", "Puits quantiques", "Confinement", "Systèmes de faible dimension", "Confinement" ]
fr , en
704
Présentation Shibboleth
Présentation vulgarisée pour faire apparaitre le potentiel de transformation de service et de soutien de services communs d'une pareille infrastructure.
[ "Shibboleth", "Gestion fédérée des identités" ]
fr
707
C'est dans l'ordre que les protestants polynésiens trouvent leur volupté
Quel effet provoque le discours théologique sur la sensibilité humaine? Pour répondre à cette question, je vais rendre compte de ce que j’ai pu éprouver en écoutant le discours théologique de l’Église évangélique de Polynésie française (EEPF), pendant les 6 ans que j’y ai vécu, de 1993 à 1999. À Tahiti, j’ai pris consc...
[ "Théologie", "Théologie pratique", "Polynésie", "Tahiti", "Esthétique", "Ordre", "Rite", "Culte" ]
fr
708
Ein Ergebnis einer "Symbolisierenden" Überführung: Liturgische Handlungen im Kultischen Raum
Dans ce texte je réponds à quatre questions: 1. Existe-t-il un espace cultuel? 2. Quel espace cultuel les actes liturgiques construisent-ils? 3. Que symbolisent-ils ainsi? 4. Quel rôle joue l'espace dans le culte? In diesem Referat will ich auf vier Fragen antworten: 1. Gibt es einen kultischen Raum? 2. Wie konstruiere...
[ "Théologie", "Théologie pratique", "Herméneutique", "Culte", "Église", "Suisse" ]
fr , de
720
Rite et théologie protestante: La cène dans l’Église évangélique de Polynésie française
Si elle disposait du dispositif théorique adéquat, la théologie protestante saurait que faire des rites que les Églises protestantes célèbrent ! Fort de cette conviction, l’auteur propose de comprendre le rite comme une technique d’influence. Reprenant les travaux de Catherine Bell, il invite à rechercher les stratégie...
[ "Théologie", "Théologie pratique", "Rite", "Ritualisation", "Sacrement", "Cène", "Polynésie française", "Nourriture", "Rite", "Tahiti" ]
fr , en
721
Matching Markets under (In)complete Information
We are the first to introduce incomplete information to centralized many-to-one matching markets such as those to entry-level labor markets or college admissions. This is important because in real life markets (i) any agent is uncertain about the other agents' true preferences and (ii) most entry-level matching is many...
[ "Many-To-One Matching Market", "Incomplete Information", "Stability" ]
en
725
Introduction : Comprendre et maîtriser la redocumentarisation du monde
Introduction du livre bilan du réseau thématique pluridisciplinaire du CNRS : "Document et contenu". Problématique générale et présentation des chapitres résumant les apports des groupes de travail.
[ "Document", "Document numérique" ]
fr
778
Du beau, du bon... du bon Dieu
Olivier Bauer ne se demande pas si la théologie doit s’intéresser aux cinq sens, mais comment elle doit le faire ! L’auteur rappelle d’abord la manière dont nous percevons le monde avec nos cinq sens et le rôle que chacun remplit. Il démontre ensuite comment le christianisme s’est toujours exprimé autant dans des goûts...
[ "Théologie", "Théologie pratique", "Dieu", "Goûter", "Toucher", "Voir", "Entendre", "5 sens", "Sentir" ]
fr , en
780
Le transfert informel des connaissances tacites chez les gestionnaires municipaux en situation de coordination
Ce rapport de recherche porte sur une étude s’intéressant au transfert des connaissances tacites chez les gestionnaires, c’est-à-dire le partage de ces connaissances et leur utilisation informelle, durant une situation de coordination dans un service municipal. La thèse est articulée autour des questions suivantes : Q...
[ "transfert des connaissances", "connaissances tacites", "informel dans l'organisation", "comportement informationnel", "situation de coordination", "réseau de connaissances", "méthode qualitative", "gestionnaire", "municipalité", "visualisation des connaissances", "knowledge transfer", "tacit ...
fr , en , es
785
L'essentiel est inaudible aux oreilles
Ne doit-on prêcher que pour les oreilles? Ou peut-on aussi prêcher pour les yeux, la peau, le nez ou la bouche? Comment alors s’adresser à ces sens? C’est à ces questions qu’Olivier Bauer s’efforce d’apporter des réponses qu’il considère comme modestes et partiales. À partir de l’expérience accumulée comme prédicateur ...
[ "Théologie", "Théologie pratique", "Protestantisme", "Culte", "Prédication", "5 sens", "Rite", "Liturgie" ]
fr , en
789
Faire lire la Bible comme à l'école: un mode d'emploi
Même si je suis loin de croire qu’aborder la Bible comme à l’école soit le meilleur moyen de la rendre plus attirante ou plus sexy, je pense pourtant que le catéchète peut trouver un avantage à faire "lire la Bible comme à l’école". Dans cet article, je le démontre à l'aide des programmes de français du collège en Fran...
[ "Théologie", "Théologie pratique", "Éducation", "Éducation de la foi", "Catéchisme", "Catéchèse", "Bible", "École" ]
fr
1,329
Parliamentary Debates in Statutory Interpretation: A Question of Admissibility or of Weight?
The exclusionary rule which prohibits references to parliamentary materials as an aid to statutory interpretation has been applied for decades in most common law jurisdictions. The House of Lords handed down its fundamental decision in Pepper v. Hart which allowed reference to parliamentary dabates in limited circumsta...
[ "legislation", "statutory interpretation", "parliamentary debates", "legislative history", "extrinsic aid", "parliamentary intent" ]
en
1,352
Driedger's 'Modern Principle' at the Supreme Court of Canada: Interpretation, Justification, Legitimization
In the last 20 years, Elmer Driedger’s “modern principle” has emerged as THE expression of the Supreme Court of Canada’s preferred approach to statutory interpretation. The authors examine this fundamental development in Canadian law, including the variable relations between Driedger’s quote and the Court’s use of it, ...
[ "legislation", "statutory interpretation", "Elmer Driedger", "modern principle of statutory interpretation", "Supreme Court of Canada", "fonctions of interpretative arguments" ]
en
1,353
The Social Power of Bodin's 'Sovereignty' and International Law
The word ‘sovereignty’ provides a forceful example of the social power of language as an organic instrument playing a leading role in the continuous and continuing process of creating and transforming human reality. The paper examines a pivotal episode in the history of the word ‘sovereignty’ — its formal introduction ...
[ "sovereignty", "internal and external sovereignty", "international law", "international relations", "legal theory", "international theory", "Jean Bodin", "semiotics and law" ]
en
1,363
Libres propos sur le droit des affaires électroniques
Entre tradition et nouveauté, quelle est la place du droit des technologies de l’information, et plus particulièrement du droit des affaires électroniques? Telle est la question à laquelle l’auteur nous invite à réfléchir eu égard à l’évolution constante du domaine, à ses caractéristiques technologiques, à ses répercus...
[ "Contrat électronique", "Commerce électronique", "Cyberconsommation", "Affaires électroniques" ]
fr
1,368
Frailty, an Emerging Research and Clinical Paradigm: Issues and Controversies
Clinicians and researchers have shown increasing interest in frailty. Yet, there is still considerable uncertainty around the concept and its definition. In this paper, we present perspectives on key issues and controversies discussed by scientists from 13 different countries, representing a diverse range of discipline...
[ "frailty", "aging", "vieillissement", "Second International Working Meeting on Frailty and Aging" ]
en
1,370
La loi fédérale sur la responsabilité : Conflits d'intérêts et éthique, quelques enjeux contemporains
Après avoir tenté, à plusieurs reprises, d’adopter une loi sur les conflits d’intérêts, le Parlement réussissait finalement à le faire. Le 12 décembre dernier, la Loi fédérale sur la responsabilité recevait la sanction royale. Cette loi volumineuse contient entre autres la Loi sur les conflits d’intérêts qui réglemente...
[ "Droit", "Imputabilité", "Conflits intérêts", "Éthique", "Parlement fédéral", "Gouvernance publique" ]
fr