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David Le Bris, William Goetzmann et Sébastien Pouget
avril 2025, p. 1–26
The origin of the modern joint-stock company is typically traced to the concomitant appearance of large-scale maritime trading companies in England and the Netherlands in the early seventeenth century. Highlighting medieval cases in southern Europe, we claim that the joint-stock company emerged...
Zaineb Smida, Thibault Laurent et Lionel Cucala
vol. 66, n° 100888, avril 2025
A scan method for functional data indexed in space has been developed. The scan statistic is derived from the Hotelling test statistic for functional data, extending the univariate and multivariate Gaussian spatial scan statistics. This method consistently outperforms existing techniques in...
Sylvie Borau
vol. 198, n° 1, avril 2025, p. 1–19
The use of female AI agents, such as vocal assistants, chatbots and robots, is on the rise, but the indiscriminate feminization of these AI agents poses novel ethical concerns about their impact on gender relations in society. This conceptual article argues that AI agents, even virtual ones, can...
Frédéric Boissay, Fabrice Collard, Cristina Manea et Alan Shapiro
vol. 21, n° 2, avril 2025, p. 147–220
This paper explores the state-dependent effects of a monetary tightening on financial stress, focusing on a novel dimension: whether inflation is driven by supply versus demand factors at the time of the policy intervention. These underlying factors likely affect the economy’s financial resilience...
Thomas Ragel et Bruno Ziliotto
avril 2025
Claire Borsenberger, Helmuth Cremer, Denis Joram, Jean-Marie Lozachmeur et Estelle Malavolti
n° 25-1639, avril 2025
The concept of Corporate Social Responsibility (CSR) has evolved since Milton Friedman’s 1970 assertion that a business’s sole responsibility is profit. Today, global frameworks like the UN Global Compact and EU regulations emphasize corporate accountability, particularly regarding social and...
Michel Moreaux et Jean-Pierre Amigues
n° 25-1638, avril 2025
The theme of the ’energy transition’ away from fossil fuels toward clean renewable energy has attracted a lot of attention in the context of climate change mitigation. However the emergence of a new energy system raises its own problems. An aggressive carbon pricing or a renewables subsidisation...
Gabriel Ulyssea, Matteo Bobba, Lucie Gadenne et Mariaflavia Harari
vol. 6, n° 2, avril 2025
Most low- and middle-income countries are characterised by a large informal sector, which implies that a substantial fraction of economic activity and livelihoods in these countries goes on completely unregulated. This has important implications for the behaviour of firms, workers, families, and...
Patrick Rey, Simon Loertscher et Leslie Marx
n° 25-1637, avril 2025
We develop the procurement analogue to an all-pay auction for an independent private values model with identical distributions. In this all-receive procurement auction (ARPA), suppliers simultaneously submit bids. Suppliers with bids below (above) the reserve are paid their bids (are paid and...
Helmuth Cremer et Georges Casamatta
n° 25-1636, avril 2025
We examine the optimal combination of direct and indirect taxes in the presence of tax avoidance. Our findings indicate that linear commodity taxes should be included in the optimal tax mix, even when they are subject to avoidance and when the conditions of the Atkinson-Stiglitz theorem hold. This...
