Search results for "Econometric"

Monnaie, État et Production : apports et limites de l'approche néo-chartaliste.

2007

La dollarisation de certaines economies, la creation de l’euro ou la question de l’independance des banques centrales soulevent des interrogations centrees sur le privilege de "battre monnaie". A cet egard, la these neo-chartaliste, qui developpe l’analyse initiee par Knapp, merite une attention toute particuliere puisqu’elle aborde specifiquement les liens entre monnaie et Etat. En effet, elle etablit d’une part un lien entre fiscalite et acceptation collective de la monnaie, et entre fiscalite et emission monetaire d’autre part. Nous presentons dans ce texte les apports et les limites du neo-chartalisme.

Starting high school? On the origins of secondary education in Spain, 1857–1901

2022

AbstractThe development of modern educational systems radically altered the way knowledge and skills were transmitted. Yet, while elementary schooling rapidly expanded in late 19th and early twentieth centuries, secondary education struggled to find its way. This was also the case in Spain where, despite a growing demand, the provision of public secondary education during the second half of the 19th century was rather limited. As a result, private education, and especially that promoted by the Church, rushed to fill in the gap. Using a new database with municipal-level data, we examine what drove the expansion of private schools. As expected, demand-pull factors were critical. Still, the in…

Quasi-markets Targets and the Evaluation of Nursing-home Funding in the Valencian Region

2016

EnglishSpanish long term care is in danger, therefore we propose a change in the nursing home funding system. We use as an example the extremely complex nursing home financing system of Valencian Region. In this region, there are many funding mechanisms: two types of public subsidies, two different accessibility plans, a voucher scheme and a cash benefit approach related to residential service. We evaluate these methods through the quasi-market theory. We find that these approaches have negative impact on equity, efficiency and freedom of choice and we propose a new, homogeneous financing method for all nursing homes through voucher. EnglishLong term care, nursing homes, quasi-markets, vouc…

Do microfinance institutions benefit from integrating financial and nonfinancial services?

2017

This article examines the impact of microfinance ‘plus’ (i.e. coordinated combination of financial and nonfinancial services) on the performance of microfinance institutions (MFIs). Using a global data set of MFIs in 77 countries, we find that the provision of nonfinancial services does not harm nor improve MFIs’ financial sustainability and efficiency. The results however suggest that the provision of social services is associated with improved loan quality and greater depth of outreach.

Typologie des cooperatives de credit espagnoles par la methode des groupes strategiques. Une etude empirique

1997

The objective is to apply the Strategic Groups approach to the sub-sector of credit cooperatives, organizations on which Strategic Groups analysis has not been applied yet although they are part of the banking sector. Therefore taking into account the theoretical arguments presented on SG, the authors apply them according to the following stages: identification of the group of banking organizations composing the object of the study (in this case, credit cooperatives) while analysing their main characteristics; choice of the subset of banking organizations forming the analysed sample; determination of key strategic variables to define credit cooperatives’ strategies; and application of the r…

Factors underlying displacement: an analysis of Finnish regional incentive policy using survey data on assisted firms

1990

The Home Bias in Equities and Distribution Costs

2015

We show that incorporating distribution costs into a general equilibrium model of international portfolio choice helps to explain the home bias in international equity investment. Our model is able to replicate observed investment positions for a wide range of parameter values, even if agents have an incentive to hedge labor income risk by purchasing foreign equity. This is because the existence of a retail sector affects both the correlation of domestic returns with the domestic price level and the correlation between financial and non-financial income.

On the design of non-monetary incentives in schools

2019

We analyze the impact of non-monetary incentives on performance in a mathematics test in secondary schools. While we apply predetermined incentives in two treatments, in a third treatment, pupils c...

Development of capabilities from the innovation of the perspective of poverty and disability

2017

Abstract Poverty is a reality that is present to a greater or lesser extent in all regions of the world. Disability, like poverty, is also a reality in the society in which we live. Disability is not only a reality, but an inescapable truth, as at some point in life all people will be vulnerable and will exhibit some form of disability. When combined, poverty and disability immerse a person in more serious circumstances. Within the concept of poverty, disability means greater poverty. Based on a correct conceptualization of what poverty and disability are, this paper aims at proposing an innovative model of accompaniment, one which starts from a complete and multidimensional vision of reali…

The Economic Value of Volatility Transmission Between the Stock and Bond Markets

2008

This study has two main objectives. Firstly, volatility transmission between stocks and bonds in European markets is studied using the two most important financial assets in these fields: the DJ Euro Stoxx 50 index futures contract and the Euro Bund futures contract. Secondly, a trading rule for the major European futures contracts is designed. This rule can be applied to different markets and assets to analyze the economic significance of volatility spillovers observed between them. The results indicate that volatility spillovers take place in both directions and that the stock-bond trading rule offers very profitable returns after transaction costs. These results have important implicatio…