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Julien Daubanes
n° 09-012, 12 février 2009
This article proposes a complementary explanation for why oil-rich economies have experienced a relative low GDP growth over the last decades: the proportion of taxes in the prices of petroleum products have been globally increasing in the last four decades, making oil revenues grow slower than...
André Grimaud et Gilles Lafforgue
12 février 2009
Jérôme Bigot et Sébastien Van Bellegem
n° 09-011, 11 février 2009
This paper proposes a new wavelet-based method for deconvolving a density. The estimator combines the ideas of nonlinear wavelet thresholding with periodised Meyer wavelets and estimation by information projection. It is guaranteed to be in the class of density functions, in particular it is...
Laurent Locurcio
9 février 2009
Gilles Saint-Paul
6 février 2009
Alexandre Maddens
4 février 2009
3 février 2009
Hippolyte d'Albis et Emmanuel Thibault
n° 09-010, 2 février 2009
In this article, the diversification motives of the demand for annuities is analyzed. Using a model allowing for the uncertainty of both the human life length and the interest rate, the Decision Maker is supposed to choose an optimal portfolio to maximize a bequest. Conditions under which an...
David Bardey et Jean-Charles Rochet
2 février 2009
