https://depot.erudit.org//id/000030dd Analyse scientifique des organisations et des comportements stratégiques. https://depot.erudit.org//retrieve/24 https://depot.erudit.org//id/000030dd Search the Channel search https://depot.erudit.org//simple-search https://depot.erudit.org//id/004009dd Title: Selection of the number of factors in presence of structural instability: a Monte Carlo study <br/> <br/>Authors: Stevanovic, Dalibor <br/> <br/>Issue Date: 2014-12 <br/> <br/>Abstract: In this paper we study the selection of the number of primitive shocks in exact and approximate factor models in the presence of structural instability. The empirical analysis shows that the estimated number of factors varies substantially across several selection methods and over the last 30 years in standard large macroeconomic and financial panels. Using Monte Carlo simulations, we suggest that the structural instability, in terms of both timevarying factor loadings and nonlinear factor representations, can alter the estimation of the number of factors and therefore provides an explanation for the empirical findings. Mon, 09 Feb 2015 21:04:14 GMT https://depot.erudit.org//id/004008dd Title: Government Spending Multipliers and the Zero Lower Bound in an Open Economy <br/> <br/>Authors: Mao Takongmo, Charles Olivier <br/> <br/>Issue Date: 2014-11 <br/> <br/>Abstract: What is the size of the government-spending multiplier in an open economy when the Zero Lower Bound (ZLB) on the nominal interest rate is binding? Using a theoretical framework, in a closed economy, Christiano, Eichenbaum, and Rebelo (2011), show that, when the nominal interest rate is binding, the government-spending multiplier can be close to four. Their theory helps us to understand the government spending multiplier in ZLB, but it is difficult to match that theory with the data. We propose a dynamic stochastic general equilibrium in open macroeconomics, with market imperfections, wage and price rigidities and endogenous smoothing monetary policy. We argue that, in a closed economy and in the presence of ZLB, there is no crowding out effect through interest rates. We also argue that in an open economy, there is another channel for the crowding out effect via the real exchange rate. For an open economy, the multiplier falls to the levels usually observed in small,closed economies for which the ZLB is not binding. Mon, 09 Feb 2015 21:04:13 GMT https://depot.erudit.org//id/004007dd Title: Money talks - Paying physicians for performance <br/> <br/>Authors: Keser, Claudia; Peterle, Emmanuel; Schnitzler, Cornelius <br/> <br/>Issue Date: 2014-10 <br/> <br/>Abstract: Pay-for-performance attempts to tie physician payment to quality of care. In a controlled laboratory experiment, we investigate the effect of pay-for-performance on physician provision behavior and patient benefit. For that purpose, we compare a traditional fee-for-service payment system to a hybrid system that blends fee-for-service and pay-for-performance incentives. Physicians are found to respond to pay-for-performance incentives. Approximately 89 percent of the participants qualify for a pay-for-performance bonus payment in the experiment. It follows that a patient treated under the hybrid payment system is significantly more likely to receive optimal treatment than a similar fee-for-service patient. Pay-for-performance generally tends to alleviate over- and under-provision of medical treatment relative to fee-for-service. Irrespective of the payment system, we observe unethical treatment behavior, i.e., the provision of medical services with zero benefit to the patient. Mon, 09 Feb 2015 21:04:12 GMT https://depot.erudit.org//id/004006dd Title: Dispatching after Producing: The Supply of Non-Renewable Resources <br/> <br/>Authors: Daubanes, Julien; Lasserre, Pierre <br/> <br/>Issue Date: 2014-10 <br/> <br/>Abstract: There exists no formal treatment of non-renewable resource (NRR) supply, systematically deriving quantity as function of price. We establish instantaneous restricted (fixed reserves) and unrestricted NRR supply functions. The supply of a NRR at any date and location not only depends on the local contemporary price of the resource but also on prices at all other dates and locations. Besides the usual law of supply, which characterizes the own-price effect, cross-price effects have their own law. They can be decomposed into a substitution effect and a stock compensation effect. We show that the substitution effect always dominates: a price increase at some point in space and time causes NRR supply to decrease at all other points. This new but orthodox supply setting extends to NRRs the partial equilibrium analysis of demand and supply policies. The properties of restricted and unrestricted supply functions are characterized for Hotelling (homogenous) as well as Ricardian (non homogenous) reserves, for a single deposit as well as for several deposits that endogenously come into production or cease to be active. Mon, 09 Feb 2015 21:04:11 GMT https://depot.erudit.org//id/004005dd Title: Un état des lieux sur le commerce international des déchets <br/> <br/>Authors: Bernard, Sophie; Claire, Arthur; Vergne, Guillaume; Warin, Thierry <br/> <br/>Issue Date: 2014-10 <br/> <br/>Abstract: Ce document de travail propose un état des lieux sur le commerce international des déchets. Il expose l'évolution et la composition des flux et présente les grands acteurs du commerce international. Il discute ensuite de la convention de Bâle, du havre de la pollution et du commerce illégal des déchets. Ce travail repose partiellement sur Bernard et al. (2012) qui se concentre, en particulier, sur le contexte français. Mon, 09 Feb 2015 21:03:44 GMT