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Alec Zuo, Céline Nauges et Sarah Ann Wheeler
vol. 42, n° 1, 2015, p. 1–24
In this article, the role of water markets in helping farmers manage the risk of water shortage is studied. Using farm survey data from Australia's southern Murray–Darling Basin, one of the most active water markets in the world, we tested the relationship between farmers' exposure to risk and...
Pierre Dubois, Olivier de Mouzon, Fiona Scott Morton et Paul Seabright
vol. 46, n° 4, Winter 2015, p. 844–871
This paper quantifies the relationship between market size and innovation in the pharmaceutical industry using improved, and newer, methods and data. We find positive significant elasticities of innovation to expected market size with a point estimate under our preferred specification of 0.23. This...
Jean Tirole
vol. 105, n° 8, 2015, p. 2333–2363
When will solidarity, which emerges spontaneously from the fear of spillovers, be reinforced through contracting? The optimal pact between countries that differ substantially in their probability of distress is a simple debt contract with market financing, a borrowing cap, but no joint liability....
Fabien Gensbittel
vol. 40, n° 1, 2015, p. 80–104
David Bardey, Fernando Jaramillo et Ximena Peña
vol. 29, 2015, p. 126–134
We study the effect of UI bene?ts in a typical developing country where the informal sector is sizeable and persistent. In a partial equilibrium environment, ruling out the macroeconomic consequences of UI benefits, we characterize the stationary equilibrium of an economy where policyholders may be...
Zohra Bouamra-Mechemache, Sabine Duvaleix-Treguer et Aude Ridier
vol. 345, 2015, p. 7–28
Zohra Bouamra-Mechemache, Sabine Duvaleix-Treguer, Pascale Magdelaine, Aude Ridier, Michel Rieu et Gérard You
vol. 345, 2015, p. 4–6
Zohra Bouamra-Mechemache et Jianyu Yu
2015
Céline Bonnet, Christophe Bontemps, Zohra Bouamra-Mechemache, Tifenn Corre, Vincent Legendre et Michel Simioni
Pascal Lavergne, Samuel Maistre et Valentin Patilea
vol. 9, 2015, p. 643–678
We consider testing the significance of a subset of covariates in a nonparamet- ric regression. These covariates can be continuous and/or discrete. We propose a new kernel-based test that smoothes only over the covariates appearing under the null hypothesis, so that the curse of dimensionality is...
