Calendrier du mois de mars 2024
Casual Friday Development Seminar - Brown Bag Seminar
Du 29/03/2024 de 13:00 à 14:00
R1-09
MALLON Kim Lan (PSE)
Environmental Regulation and Barriers to Technology Adoption: Experimental Evidence from Urban Vietnam
EU Tax Observatory Seminar
Du 29/03/2024 de 12:00 à 13:00
Salle R1-14
CINTA GONZALEZ CABRAL Ana(OECD)
HUGGER FELIX(OECD)
The Global Minimum Tax and the taxation of MNE profit
écrit avec with Massimo Bucci, Maria Gesualdo and Pierce O’Reilly
The Global Minimum Tax (GMT) introduces significant changes to the international tax architecture and
thereby to the taxation of large multinational enterprises. This paper assesses the impact of the GMT using
new and unique data on MNE worldwide activity building on comprehensive estimates of global low-taxed
profit.
The paper has four main findings. First, the GMT reduces the incentives to shift profits, resulting in an
estimated fall in global shifted profits by around half. Second, the GMT will reduce low-taxed profit
worldwide through reduced profit shifting and top-up taxation. The global amount of MNE profit taxed below
the 15% minimum effective rate is estimated to fall by more than two thirds. Third, the GMT is estimated
to increase CIT revenues by USD 155-192 billion per year, or between 6.5-8.1% of current global CIT
revenues. The distribution of these gains across jurisdictions strongly depends on the implementation
choices of governments. Finally, the GMT is estimated to reduce tax rate differentials across jurisdictions.
This could have potentially important impacts on the efficiency of the global allocation of investment and
economic activity.
Texte intégral
Macroeconomics Seminar
Du 28/03/2024 de 16:00 à 17:15
PSE- 48 boulevard Jourdan, 75014 Paris, salle R2-21
GONZALES-AGUADO Eugenia (TSE)
Labor mobility over the business cycle
This paper studies the macroeconomic effects of internal migration in an economy with labor market frictions and quantifies its role in mitigating asymmetric shocks. Labor mobility is viewed as a key mechanism to stabilize the economy from regional shocks in currency unions. However, this view does not take into account the equilibrium effects of worker mobility in the presence of search frictions. First, I gather new evidence connecting individual migration decisions to aggregate economic outcomes over the business cycle. I show that during the Great Recession in the United States labor flows across states strongly responded to changes in economic conditions. Moreover, I find that in economic expansions job-to-job transitions account for most of the interstate movements, whereas during downturns there is a significant increase in the relocation of unemployed workers across states. Then, I develop an equilibrium model with fluctuations in aggregate productivity in which search frictions are crucial to generating the observed patterns in the data, and in particular, to explain the procyclicality of migration. I calibrate the model to the U.S. economy during the Great Recession and study the implications of labor mobility on local and aggregate labor markets.
Du 28/03/2024 de 12:30 à 13:30
R1-14
SATPATHY Aviman (PSE)
*
PEPES (Paris Empirical Political Economics) Working Group
Du 28/03/2024 de 12:30 à 14:00
Sciences Po
ANGELUCCI Charles (MIT Sloan)
*
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 28/03/2024 de 12:30 à 13:30
R1-14
FRANKEL David (Melbourne Business School)
Equilibrium Selection in Participation Games, with Applications to Security Issuance
In many applied settings, an activity requires a critical mass of participants to be worthwhile. This can give rise to multiple equilibria. We study seven well-known equilibrium selection theories: two heuristic arguments, two models with rational players, and three from the evolutionary literature. With one exception, each relies on strategic complementarities. We weaken this to a mild single crossing property and show that the theories' predictions have a common form: an agent plays a best response to some fictional distribution of the participation rate of her opponents. We then use this robust framework to study security design in a setting in which issuance revenue is used to fund investments that are, in turn, used to pay distributions on the securities. We show that all monotone securities are underpriced and that debt is optimal as it is the least underpriced. Moreover, underpricing in equity offerings can be mitigated by share rationing and a minimum sales requirement.
Travail et économie publique externe
Du 28/03/2024 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R2-21
WALDINGER Fabian (LMU Munich)
Climbing the Ivory Tower: How Socio-Economic Background Shapes Academia
écrit avec Ran Abramitzky, Lena Greska, Santiago Perez, Joseph Price, and Carlo Schwarz
This paper explores the impact of socioeconomic background on academic careers in the United States. We construct a novel dataset that links the near-universe of US academics to full-count censuses, allowing for a comprehensive analysis of the relationship between parental occupation, socioeconomic status, and academic outcomes. The findings indicate that US academics are heavily selected based on socioeconomic background, with having a father who was a professor serving as the strongest predictor of becoming a professor oneself. We also document significant variations in socioeconomic selectivity by academic discipline and university. Conditional on making it to academia, there are no differences in careers and scientific productivity, indicating that the initial selection process may play a crucial role in determining one's academic success. Additionally, we show that socioeconomic background influences a scientist's choice of subfield and thereby the direction of research.
Behavior seminar
Du 28/03/2024 de 11:00 à 12:00
R2-21
CASELLA Alessandra (Columbia)
Women, Men, and Polya Urns. On the Persistence of Underrepresentation
écrit avec Laura Caron, Alessandra Casella and Victoria Mooers
In a world where the majority and the minority group have equal distributions of talent, where candidates are objectively and accurately evaluated, and no discrimination occurs, the underrepresentation of the minority group in selective positions is nonetheless highly sticky. If the sample of candidates from the minority group is numerically smaller, at equal distribution of talent, the most qualified candidate is more likely to belong to the majority sample, mirroring its larger numerical size. If future samples of candidates respond to the realized selection in the expected direction–increasing if the selection came from the sample, decreasing or increasing less if it did not–the higher probability of success in the majority sample will persist. We capture this process with a well-known statistical model: the Polya urn. The richness of existing results and the streamlined model allow us to study and compare different policy interventions. A simple app (https://caron.shinyapps.io/Women-Men-Polya-Urns/) allows readers to run their own experiments. Two robust results are that temporary affirmative actions interventions have long -term equalizing effects, and that any decline in the quality of selected candidates is self-correcting, even while the intervention lasts.
Development Economics Seminar
Du 27/03/2024 de 16:30 à 18:00
R2.01
LANG Meghan (World Bank)
Economic Inclusion through Entrepreneurship: Evidence on Building Skills for Women
écrit avec Megan Lang (Development Research Group, The World Bank) and Julia Seither (Universidad del Rosario)
Rural, low-income households often face high income volatility, and women are disproportionately affected by negative shocks to production. Can entrepreneurship improve the economic status of rural, low-income women? We randomize access to an entrepreneurship training program in rural Uganda. The program significantly improves women's earnings. Treated women are 19% more likely to run profitable businesses 18 months post-program and profits are 15% higher. The program also bolsters women's ability to cope with large, negative shocks: high-frequency data shows that treated women fare significantly better during the first COVID-19 lockdown than women in the control group. Exploiting social network data, we detect significant, positive spillovers to the control group and adjust estimates accordingly. Our findings highlight a new role for entrepreneurship training programs as a tool for equitable rural development.
Histoire des entreprises et de la finance
Du 27/03/2024 de 16:00 à 17:30
R2.20
GARCIA Sébastian (PSE)
The pearl of the Empire? Private capital and the "mise en valeur" of rubber in colonial French Indochina.
écrit avec Simon Bittmann and Sebastián García Cornejo
This project studies colonial private capital in the rubber sector in French Indochina during the interwar. We extend the discussion about the "profitability of Empires" in two directions: to French concessionary firms, and by focusing on the distribution of profits, and incipient success, rather than levels. Using complete plantation-level data on firms' life-cycles, returns, board members and labor composition, we test the hypothesis of an "imperialist moment" in French economic/business history, exploring two main drivers of success - the type of capital invested and the reliance on forced labor - interacting with state support during the Great Depression
Economic History Seminar
Du 27/03/2024 de 12:00 à 13:30
R1.09
GAUTHIER Stéphane (PSE)
Late height growth and adult maturity from historical quasi-exhaustive panel data
Combining height data from two 19th-century French conscription
sources yields a quasi-exhaustive individual-level longitudinal dataset
for men from their 21st year, allowing for an assessment of late height
growth and age of maturity. Among 2,923 men born in 1887 in
Corr`eze, annual growth ranges from 0.29 cm to 0.39 cm. Most men
mature around ages 21-22, but the shortest in the first quintile grow
1.6 cm, reaching 162.7 cm at ages 26-27.
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 26/03/2024 de 17:00 à 18:00
R2-01
HERNáNDEZ MELIáN Beatriz (PSE)
Local Public Finance and Extreme Climate Events
Virtual Development Economics Seminar
Du 26/03/2024 de 17:00 à 18:00
Zoom
WAMBUGU NDIRANGU Anthony (University of Nairobi)
*
Paris Trade Seminar
Du 26/03/2024 de 14:30 à 16:00
PSE, 48 boulevard Jourdan, 75014 Paris, salle R2-01
CONCONI Paola (Oxford)
A Political Disconnect? Evidence From Votes on EU Trade Agreements?
écrit avec Florin Cucu, Federico Gallina, and Mattia Nardotto
It has been argued that public engagement in democracies has declined in the last decades due to a growing disconnect between citizens and their representatives. The European Union is a case in point, if not the most prominent example of an institution seen as suffering from a “democratic deficit”. Even the directly elected members of the European Parliament (MEPs) are often accused of being disconnected from the interests of European citizens. However, little is actually known about whether European legislators respond to their voters’ interests when making critical policy choices. We address this question by studying the determinants of MEPs’ votes on the approval of EU trade agreements. Against widespread Eurosceptic arguments, we find that these votes reflect the trade policy interests of MEPs’ constituencies. The results are robust to controlling for a rich set of variables and fixed effects to account for potential confounding factors, and using different sets of votes and econometric methodologies. An instrumental variable approach supports a causal interpretation of our findings.
STEP (Seminar of Trade Economists in Paris)
Du 26/03/2024 de 13:00 à 14:00
R1-13
ANDRIEU Elodie (PSE)
Multi-establishment Firm Structure, Subsidies and Spillovers
écrit avec John Morrow
How do firms diffuse resources, and does this result in spillovers far from headquarters? We show subsidies induce French firms to hire new workers, mainly in new establishments and often in new commuting zones, with little evidence of reallocation. The most hiring responsive occupations are techies and support workers in line with R&D targeting. We estimate a subsidy employment spillover elasticity of .11 at the commuting zone level within industry, but weak effects in the commuting zone. Dispersed industries have half this elasticity and concentrated industries twice this elasticity. While subsidies are awarded to headquarters in advanced areas, firms redistribute effects more broadly.
Applied Economics Lunch Seminar
Du 26/03/2024 de 12:30 à 13:30
Salle R2.21
ELISEEVA Vitaliia ()
The New Soviet Woman: Long-term influence of WW2-induced changes in sex ratios on family formation
Using local variation in 17 million World War II military deaths in the USSR, I show that war-driven male scarcity led to a long-term increase in the marriage rates and decrease in the single parenting by females. Using survey data, I document that modern-day attitudes towards the importance of family formation and gender roles in the family are more conservative in historically more male-scarce localities. To explain why my main result goes against the literature, I show that it can be explained by both high pre-war Female Labor Force Participation and low post-war migration. Additionally, I present the evidence suggesting that new gender norms diffused vertically from parents to children rather than horizontally in affected locations.
Roy Seminar (ADRES)
Du 25/03/2024 de 17:00 à 18:30
R1-09
LAOHAKUNAKORN Krittanai (University of Surrey)
Monopoly pricing with optimal information
écrit avec Guilherme Carmona
We analyze a monopoly pricing model where information about the buyer's valuation is endogenous. Before the seller sets a price, both the buyer and seller receive private signals that may be informative about the buyer's valuation. The joint distribution of these signals, as a function of the valuation, is optimally chosen by the players. In general, players have conflicting incentives over the provision of information. As a modelling device, we assume that an aggregation function determines the information structure from the choices of the players. We characterize the payoffs and prices that can arise in equilibrium for a natural class of aggregation functions. When both players are initially uninformed, equilibrium prices do not depend on the buyer's valuation. In contrast, if the buyer initially knows her own valuation, the price in every equilibrium is always equal to either the buyer's valuation or the uniform monopoly price
Régulation et Environnement
Du 25/03/2024 de 12:00 à 13:30
R1-15
MISSIRIAN Anouch (TSE)
*Can Demand-Side Interventions Rebuild Global Fisheries?
Despite recent improvements in the ecological status of wild-capture fisheries, a significant share (33%) of global marine stocks remains overexploited. While top-down management has been shown to work in many settings, there is growing interest in demand-side interventions, which work through consumer-originated price signals to incentivize reduced fishing pressure. The effectiveness of demand-side interventions would rely, in part, on a large enough supply elasticity of fisheries, though this crucial statistic is notoriously difficult to estimate and remains elusive in the literature. Using plausibly exogenous variation in fish prices and extensive data on the world's fisheries, we derive an empirical approach to estimate this elasticity using an instrumental variables estimator. We find it is very low -- similar to that observed in comparable sectors. This suggests that even if prices did respond to demand-side interventions, the supply response would be small. To determine whether the ensuing supply response would have meaningful ecological consequences, we combine a bioeconomic model of fisheries with a global model of supply and demand for seafood calibrated with our estimates. We find that even interventions that lead to dramatic demand shifts are unlikely to achieve more than marginal improvements to fisheries status. In contrast, we find that supply-side policies (such as well-enforced fishing quotas), even imperfectly designed or implemented, can result in substantial recovery.
Du 22/03/2024 de 16:00 à 17:00
R1.14
RUTHERFORD JANETTE Janette ()
The forgotten activists: U.K.. and U. S. shareholder committees of investigation, 1890 to 1940.
Casual Friday Development Seminar - Brown Bag Seminar
Du 22/03/2024 de 13:00 à 14:00
R1-09
MEVEL Alice(PSE)
CHOHO Bilal(PSE)
SME adoption of renewable power electricity back-up
EU Tax Observatory Seminar
Du 22/03/2024 de 12:00 à 13:00
Salle R1-14
GARLANDA-LONGUEVILLE Lorenzo (University of Paris Nanterre, EconomiX-CNRS)
Why do banks have so many debts in tax havens?
écrit avec with Matthias Lé and Kevin Parra-Ramirez
This paper examines the role of Offshore Financial Centers (OFCs), which account for more than 20% of the cross-border banking assets and liabilities in the international banking system. Examining the motivations behind banks' utilization of OFCs, the study focuses on whether tax considerations are a possible driving force. Through an comprehensive analysis of cross-border banking activities, we find a negative relationship between the distribution of intra-group liabilities -- representing over 50% of bank liabilities -- and corporate tax rates in both creditor and debtor countries, with a more pronounced pattern for debtor countries with higher tax rates. These results hold when distinguishing between parent companies and affiliates. Finally, we examine the regulatory arbitrage argument and find that the pattern exists even in situations of limited prudential arbitrage, shedding light on profit-shifting practices. This research contributes to the understanding of banks' global intermediation activities and tax avoidance within the financial sector.
PSE Internal Seminar
Du 22/03/2024 de 12:00 à 13:00
GUYON Nina(ENS-PSL and PSE)
KRANTON Rachel(PSE)
"On-the-job Effort: workers’ identity, sharing organization values, and mental health" joint with Duncan Thomas
Why do workers exert effort at their tasks and what are the implications for workers when particularly high effort is needed to do their jobs? Given the absence of incentive pay or threat of job loss, this study of university employees during the Covid-19 pandemic provides strong evidence of a connection between identity and workers’ effort. The study further finds associations between identity, effort, employees’ relationship to the organization, and employee mental health. The study sample consists of about 4000 respondents to an institution-wide survey conducted in the spring of 2021. Employees whose work is more important to their sense of self report exerting significantly more effort to maintain their level of accomplishment relative to a pre-pandemic benchmark. Higher effort needed to accomplish tasks, however, is strongly associated with higher levels of stress and anxiety. Employees who agree more that the university shares their values report needing less effort to accomplish tasks and report lower levels of stress and anxiety. We thus identify workers with a constellation of features: greater importance of work to sense of self, less sharing of values with the organization, higher self-reported effort, and higher levels of mental health distress. The stress and anxiety measures pick up patterns not seen in a broader, widely used scale of psychosocial well-being, indicating the need for new, intentional measures to study the relationship between work and employee mental health....................................................................................................................This paper studies the effects of a desegregation shock induced by middle school closures in deprived neighborhoods and leading to the reallocation of students to other middle schools in the city. I analyze the direct effects on students from deprived neighborhoods (the “movers”), as well as the indirect effects on incumbent students in receiving schools (the “receivers”). In both cases, I make use of the staggered closure of middle schools in cities all over France, comparing cohorts before and after closure, as well as of the availability of control cities. Exhaustive administrative panel data at the student level allow me to account for potential selection of the movers into receiving middle schools as well as for a potential “rich flight” of the receivers. I find that a school closure leads to a decrease in dropout rates after middle school for movers. These effects are consistent with a strong decrease in disruption that outweighs potential negative effects. Importantly, dropout rates also decrease for receivers, consistent with strong positive ranking effects that outweigh potential disruption effects. I find evidence of a “rich flight” towards the private system only for socially advantaged receivers that cannot fully explain these positive effects. Finally, I study the dynamics of these effects.
EPCI (Economie politique du changement institutionnel) Seminar
Du 22/03/2024 de 11:00 à 12:30
MSE, salle du 6e étage
DELAINE Estelle (Université Rennes 2)
A l’Extrême droite de l’Hémicycle, Raisons d’agir 2023
À partir d’archives parlementaires et partisanes, d’entretiens et d’observations, ce livre révèle comment les élus RN bénéficient en réalité des ressources et des réseaux de la démocratie européenne. Ils sont en effet liés quotidiennement à tous ceux qui s’engagent dans le travail parlementaire : lobbyistes, élu.es d’autres groupes, fonctionnaires, journalistes, etc.
Technique, multiculturelle et élitaire, la politique européenne n’exclut pas d’emblée les militantes et militants nationalistes, à condition qu’ils en respectent les principes. Les parlementaires RN trouvent alors dans les procédures de proportionnalité ou dans la politique consensuelle de l’Europe des moyens de s’insérer dans les négociations politiques. Ce faisant, ils activent des pratiques qui n’avaient pas été imaginées par l’institution, mais qui ne sont pas fondamentalement incompatibles avec les usages et règlements.
Ce militantisme en col blanc combine normalisation et subversion des règles du jeu parlementaire : c’est moins le moment d’une transformation du parti par l’Europe que celui de la formation de ses cadres aux activités de délibérations. L’étude des carrières, du travail et des représentations de membres d’équipes parlementaires RN montre ainsi la présence paradoxale de l’extrême droite au sein d’une institution démocratique.
brown bag Travail et Économie Publique
Du 21/03/2024 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-09
OLIVEIRA Florentine (PSE)
Children of the Revolution : Women's Liberation and Children's Success
écrit avec Éric Maurin
In many countries, the 1960s marked a turning point in the history of women's emancipation, with the legalization of abortion as well as the liberalization of the contraceptive pill and divorce. Focusing on France, where the movement was particularly powerful, this article first explores the impact of the reforms on the family context in which children grew up. Our identification strategy is based on the fact that the wind of reforms first affected first-born children born in the 1960s, before affecting all children born in subsequent cohorts. This strategy shows that the sixties revolution has essentially led to a sharp decline in "traditional" families (many children, stay-at-home mothers) in favor of "modern" families (two children max, working mothers). We explore the consequences of these family changes on educational trajectories and find that they have been much more favorable to children from affluent backgrounds than to those from modest ones.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 21/03/2024 de 12:30 à 13:30
R1-14
SI Shuhua (Columbia)
Modes of Thinking in a Complex Game
We study a complex Blotto-like resource allocation game over a continuum of items of different values. Strategies a priori lie in a (high-dimensional) space of functions, each defining how much to bid on each item as a function of its value, given a total resource constraint. We propose to analyze the game in a simplified strategy space: we focus on a three-dimensional space of curve which includes power shapes and S-shapes and analyze the game assuming that a player's strategy set consists of a random selection of visually distinct curves that paves the space of curves. By randomly generating relatively small strategy set profiles, we obtain a distribution of most frequently played strategies for each solution concept examined (e.g., maxmin, best-response dynamics, Nash) which we compare to curve-fitted experimental data. Predictions using restricted sets point towards a significant use of S-shaped curves, as indeed overwhelmingly observed in the data, in contrast to the power curve prediction that obtains when maxmin or equilibrium analysis is performed over rich strategy sets. We also examine comparative statics with respect to asymmetries in resource endowments across players.
Behavior seminar
Du 21/03/2024 de 11:00 à 12:00
R2.21
MERLINO Luca Paolo (ECARES, Solvay Brussels School of Economics and Management, Université libre de Bruxelles, Belgium)
Identifying Marriage Markets”, which is a joint work with Bolletta (Saclay), Cherchye (KUL), De Rock (ULB) and Demuynck (ULB).
We propose a method to identify individuals' marriage markets under the assumption that the observed marriage allocations are stable. Our specific aim is to learn about (the relative importance of) the individual's observable characteristics that define these markets. In a first step, we use a nonparametric revealed preference approach to construct inner and outer bound approximations of individuals' marriage markets from the observed marital matchings. Then, we use the machine learning method called Support Vector Machine (SVM) to estimate a robust boundary between these inner and outer bound approximations. The method estimates the threshold (as a linear function of individual characteristics) that defines whether two potential partners operate in the same marriage market. We demonstrate the practical usefulness of our method through an application to Dutch household consumption data
Macroeconomics Seminar
Du 21/03/2024
PSE- 48 boulevard Jourdan, 75014 Paris, salle
STORESLETTEN Kjetil (U of Oslo and U of Minnesota)
International Macroeconomics Chair Lecture
Development Economics Seminar
Du 20/03/2024 de 16:30 à 18:00
R2.01
GALASSO Emanuela(World Bank )
GALASSO Emanuella(World Bank )
The Heterogeneous Quality in Delivery of Welfare: Evidence from Social Workers in the Chile Solidario Program
écrit avec Pedro Carneiro (University College London, CEMMAP and IFS), Barbara Flores (University of Chile), Emanuela Galasso (Development Research Group, The World Bank), Rita Ginja (University of Bergen), Lucy Kraftman (Institute of Fiscal Studies)
Welfare states rely on human resources to provide the social services available. Social workers are often responsible for linking services provided and the families in need. In this paper we quantify the differences in effectiveness across social workers and study the implications of these estimates for their optimal allocation across families. To do so, we use data from a two-year home visitation program for the most deprived in Chile, where social workers were (quasi)-randomly assigned across families. We start by estimating the social workers’ fixed effects, that reveal substantial heterogeneity in the value-added by social workers. Second, we find that there is heterogeneity in performance within social workers, across different families. Third, we find a weak correlation between the supervisors and own social worker evaluation and her estimated value added. Finally, a high value-added social worker has a small but significant impact which lasts up to four years after the home-visitation program.
Histoire des entreprises et de la finance
Du 20/03/2024 de 16:00 à 17:30
R2.20
MASTIN Jean-Luc (Paris 8 Vincennes Saint Denis)
Les mutations du système de contrôle bancaire français dans les années 1980 (1976-1993)
Economic History Seminar
Du 20/03/2024 de 12:00 à 13:30
R1.09
HONG Sehyun ()
Income Inequality in South Korea, 1933-2022: Evidence from Distributional National Accounts
This study presents “Distributional National Accounts (DINA)" for South Korea. We combine household survey micro data, tax data, and national accounts to construct annual pretax income inequality series which is coherent with macro aggregates. We show the distribution of pretax national income over the period from 1933 to 2020, with detailed breakdown by age, gender, and income composition in the years from 1996 to 2020. This series allows for a much richer analysis of the long-run income inequality trend in South Korea than previous work based on fiscal tabulation (N.-N. Kim, 2018), which only includes top income shares and misses an increasing component of tax-exempted capital income in recent years. Our new series suggests that after the Asian financial crisis in 1997, income inequality has worsened due to the rise of tax-exempted capital income concentration at the top. Additionally, South Korea is characterized with relatively higher gender inequality and lower old-age income shares compared to the United States and France. Compared to other East Asian countries, South Korea exhibits relatively lower levels of income inequality, mostly due to the fact that its national income growth was more equally distributed in the early stages of economic take-off in the 1980s, even though income inequality has worsened over the last three decades. Rather strikingly, despite similar economic backgrounds and development trajectories, there is a huge gap in pretax national income inequality between Taiwan and South Korea. This gap stems mostly from the fact that the distribution of capital income in Taiwan has been much more unequal than that in Korea.
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 19/03/2024 de 17:00 à 18:00
R1-09
SEMPé Grégoire(PSE)
PéLIGRY Paloma(ENS Paris Saclay / U. Bologna)
Optimal Climate Policy in the Housing Market
Applied Economics Lunch Seminar
Du 19/03/2024 de 12:30 à 13:30
Salle R2.21
NIEVAS Gastón (PSE)
Has the US exorbitant privilege become a rich world privilege? Rates of return and foreign assets from a global perspective, 1970-2022
écrit avec Alice Sodano
How have rates of return on foreign assets and liabilities impacted different groups of countries across the recent financial globalization? We address this question by combining data from a wide variety of sources, encompassing the entire world (216 economies) for the period 1970-2022. We find that returns on foreign assets have decreased for everyone. On the contrary, returns on foreign liabilities have only decreased for the top 20% richest countries. This differential between returns on assets and returns on liabilities has extended the exorbitant privilege of the US to become a rich world privilege. The richest countries have become the bankers of the world, attracting excess savings by providing low-yield safe assets and investing these inflows in more profitable ventures. Such a privilege is translated in net income transfers from the poorest to the richest equivalent to 1% of the GDP of top 20% countries (and 2% of GDP for top 10% countries), alleviating the current account balance of the latter while deteriorating that of the bottom 80% by about 2-3% of their GDP. Moreover, rich countries also experience positive capital gains during the period, which further improves their international investment position (IIP) and presents evidence that their foreign investments are not as risky as previously thought to be. Thus, results are explained by richer countries, issuers of international reserve currencies, accessing cheaper financing, both for the public and private sector. Our study has implications for the international monetary and financial system and the unequal paths to development.
Du 19/03/2024 de 09:00 à 12:30
R1-13
GPET Seminar
Du 19/03/2024 de 09:00 à 13:30
R1-13
• 9:00 Coffee
• 9:10-9:55: Marcelo Gantier
• 9:55-10:40: Bertille Evreux
• Break
• 10:50-11:35: Guillermo Woo-Mora
• 11:35-12:20: Alessia Destefanis
• Followed by Lunch séminaire d’économie appliquée Salle R2.21
• 12:30-13:30 : NIEVAS Gastón
Roy Seminar (ADRES)
Du 18/03/2024 de 17:00 à 18:30
R1-09
ORTOLEVA Pietro (Princeton)
When to decide: Timing of choice in Parallel Search
écrit avec Can Urgun
Econometrics Seminar
Du 18/03/2024 de 16:15 à 17:30
CREST
WINDMEIJER Frank (University of Oxford)
The Falsification Adaptive Set in Linear Models with Instrumental Variables that Violate the Exclusion or Conditional Exogeneity Restriction
Masten and Poirier (2021) introduced the falsification adaptive set (FAS) in linear models with a single endogenous variable estimated with multiple instrumental variables (IVs). The FAS reflects the model uncertainty that arises from falsification of the baseline model. We show that it applies to cases where a conditional exogeneity assumption holds and invalid instruments violate the exclusion assumption only. We propose a generalized FAS that reflects the model uncertainty when some instruments violate the exclusion assumption and/or some instruments violate the conditional exogeneity assumption. If there is at least one relevant instrument that satisfies both the exclusion and conditional exogeneity assumptions then this generalized FAS is guaranteed to contain the population parameter of interest in large samples.
Paris Migration Economics Seminar
Du 18/03/2024 de 12:30 à 13:30
R1-14
GOBBI Paula(Université Libre de Bruxelles)
D AMELIO Tommaso(Université Libre de Bruxelles)
Inheritance and Migration: Evidence from 19th Century Italy
In the nineteenth and at the beginning of the twentieth century, Italy experienced extensive emigration flows that have been affecting the life and the economy of the country until today. In this paper we show that inheritance rules affected decisions regarding migration at the time. We exploit the quasi natural experiment provided by the Napoleonic invasion and the consequent introduction of the Code Civil, and the variability across the peninsula, to perform a difference-in-differences analysis. To do so, we build three novel datasets: one on the use of impartible inheritance at pre-unitary state level, one on inheritance practices among noble families from testaments, and one on migration before the unification of Italy, obtained through genealogical data. At the state level, we find that the change from impartible to partible inheritance led to an increase in the probability of migrating between 5 and 15%. At the family level, we perform a triple difference estimation based on the information on the inheritance practices of the nobility. For noble families, turning to partible inheritance increased the probability of migrating out of Italy by 20%.
Regional and urban economics seminar
Du 18/03/2024 de 12:00 à 13:30
R1-09
SINGH Abhijeet (PSE)
*
Régulation et Environnement
Du 18/03/2024 de 12:00 à 13:30
R1-09
SINGH ABHIJEET Manpreet (PSE)
Supplier rationing and allocation efficiency: case of renewable energy auctions in India
This paper studies allocation efficiency of auctions for solar and wind energy capacity
creation, conducted by Solar Energy Corporation of India (SECI). These
auctions have helped create 54 gigawatts of renewable electricity capacity in India.
SECI’s auctions usually have large procurement targets, which are beyond
the capacity of a single firm. The auctions are open descending bid format,
where bidders publicly reveal their capacity constraint and bid on the selling
price of their electricity. The market clearing price is the one with least excess
demand, and a residual award is provided to the last exiting bidder. In this paper,
I show that such rationing rule and asymmetric capacities of bidders lead to
inefficient allocation. I further use SECI’s bidding data to structurally estimate
the cost distribution of the bidders, and through a simple simulation exercise,
show that a sealed bid version reduces probability of inefficient selection by
20-33 percent points without affecting the payoffs.
Casual Friday Development Seminar - Brown Bag Seminar
Du 15/03/2024 de 13:00 à 14:00
R1-09
OH Suanna (PSE)
Gender Quotas and Enforcement of Norms: an Investigation in the Context of Digital Work
EU Tax Observatory Seminar
Du 15/03/2024 de 12:00 à 13:00
Salle R1-14
DAVIES Ron (University College Dublin)
Tax Haven Use and Employment Decisions: Evidence from Norway
écrit avec with Johannes Scheuerer
While profit-shifting practices by multinational enterprises have received considerable attention in recent years for their impact on tax revenues, their real economic consequences remain poorly understood. In this paper, we use administrative data for the universe of Norwegian firms and workers to study employment responses to aggressive tax planning. We exploit variation in the timing of establishing corporate ownership presence in a tax haven to show that tax haven use is associated with lower employment growth. The granularity of the data allows us to uncover heterogeneity across worker groups, with the negative effects being strongest for service-sector employees in the highest occupations.In examining the potential of tax avoidance to shape labor market outcomes, this paper highlights the need for a more nuanced understanding of the socioeconomic implications of profit shifting beyond foregone government revenues.
Macroeconomics Seminar
Du 14/03/2024 de 16:00 à 17:15
PSE- 48 boulevard Jourdan, 75014 Paris, salle R2-21
BHANDARI Anmol (University of Minnesota)
A Perturbational Approach for Approximating Heterogeneous-Agent Models
écrit avec Thomas Bourany, David Evans, and Mikhail Golosov
We develop a perturbational technique to approximate equilibria of a wide class of discrete-time dy-
namic stochastic general equilibrium heterogeneous-agent models with complex state spaces, including
multi-dimensional distributions of endogenous variables. We show that approximating policy functions
and stochastic process that governs the distributional state to any order is equivalent to solving small
systems of linear equations that characterize values of certain directional derivatives. We analytically
derive the coefficients of these linear systems and show that they satisfy simple recursive relations,
making their numerical implementation quick and efficient. Compared to existing state-of-the-art tech-
niques, our method is faster in constructing first-order approximations and extends to higher orders,
capturing the effects of risk that are ignored by many current methods. We illustrate how to apply
our method to a broad set of questions such as impacts of first- and second-moment shocks, welfare
effect of macroeconomic risk and stabilization policies, endogenous household portfolio formation, and
transition dynamics in heterogeneous agent general equilibrium settings.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 14/03/2024 de 12:30 à 13:30
R2-21
BORISOVA Polina (PSE)
Hyperbolic Experimentation
écrit avec Nikhil Vellodi
Travail et économie publique externe
Du 14/03/2024 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-09
HELM Ines (LMU Munich)
Displacement Effects in Manufacturing and Structural Change
écrit avec Alice Kügler and Uta Schönberg
We investigate the consequences of structural change for workers displaced from the manufacturing sector. Manufacturing establishments traditionally employed low- and high-wage workers in similar proportions and paid substantial wage premiums to both types of workers. Structural change has led to the disappearance of these jobs, particularly for low-wage workers. Decomposing displacement wage losses, we show that low-wage workers suffer considerable losses in establishment premiums following displacement, whereas high-wage workers tend to fall down the match quality ladder. With ongoing structural change, losses in wages and establishment premiums have increased over time, especially for low-wage workers, in part because they are increasingly forced to switch to low-knowledge service jobs where establishment premiums are low. Our findings further highlight that structural change and layoffs in manufacturing have significantly contributed to job polarization and the rise in assortative matching of workers to firms.
Behavior seminar
Du 14/03/2024 de 11:00 à 12:00
R2-21
SCHOENMAECKERS Jérôme (HEC Liège, CIRIEC)
We are not all equal! Impact of socio-economic status on loss of autonomy in the old age
écrit avec Mathieu Lefebvre, Université de Strasbourg; Jérôme Schoenmaeckers, HEC-Liège
We use data from the SHARE and HRS surveys (2010-2020) to estimate the relationship between socio-economic status, mortality, risk and duration of dependency for people aged 50 and over. The results show that wealthier individuals have a higher probability of survival, regardless of the estimation method used (OLS or IV). The strength of this relationship varies from country to country, and in Europe we observe that in the more Bismarckian countries wealth explains survival more than in the Beveridgian countries. Finally, on the basis of a Cox survival model, we also show that the least wealthy individuals are those who have a greater probability of becoming dependent, but also those who experience the longest periods of loss of autonomy in old age. Our results therefore identify a triple penalty linked to socio-economic status, summarised by the finding that the poorest people live for a shorter time, are more likely to become dependent and do so for a longer period.
Development Economics Seminar
Du 13/03/2024 de 16:30 à 18:00
R2.01
VOORS Maarten ()
Effects of economic and social incentives on bureaucratic quality: Experimental Evidence from Sierra Leone
Using a field experiment implemented in Sierra Leone we examine the joint effects of local selection, local monitoring, and incentivized payment mechanisms. We find evidence consistent with past literature that social pressure improves quality. These gains however are no better than gains from simple direct payment mechanisms that involve similar direct but lower social costs. There is weak evidence of crowding out effects. We find no effects of varying selection mechanisms. Analysis of a structural model identifies conditions under which social or economic incentives are more or less likely to be effective.
Histoire des entreprises et de la finance
Du 13/03/2024 de 16:00 à 17:30
R2.02 (salle Rebérioux )
BONHOURE Emilie (Kedge Business School )
A Long-Term Perspective on Ownership: the Case of Saint-Gobain
Economic History Seminar
Du 13/03/2024 de 12:00 à 13:30
R1.09
KERSTING Felix (Humboldt University Berlin)
Industrialization, returns, inequality (Co-authors: Thilo Albers and Timo Stieglitz)
écrit avec Thilo Albers and Timo Stieglitz
How does revolutionary technological change impact wealth inequality? We turn to the mother of all technological shocks–the Industrial Revolution–and analyze its role for wealth concentration both empirically and theoretically. Based on a novel dataset on wealth shares at the level of Prussian counties, we provide causal evidence on the positive effect of industrialization on the top percentile's wealth share and the inequality among top fortunes. We show that this relationship between industrialization, wealth concentration, and tail fattening is consistent with both cross-country data on national wealth distributions and with a new individual-level dataset of Prussian millionaires. We disentangle the mechanisms underlyi ng the observed wealth concentration and tail fattening by introducing a dynamic two-sector structure into an overlapping generations model with heterogeneous returns to capital. In particular, we study the role of sector-specific scale dependence, i.e., the positive correlation of rates of return and wealth in industry, and dynastic type dependence in returns, i.e., the gradual one-directional transition of wealth-holders from the low-return traditional to the high-return industrial sector. The simulations suggest that the combination of these two features explains about half of the total increase of the top-1% share, while the other half resulted from the general increase and higher dispersion of returns induced by the emerging industrial sector.
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 12/03/2024 de 17:00 à 18:00
R3-71
ALHAGE Rind (PSE)
Flexible electrolyzer operation: rethinking hydrogen supply and industrial demand in France by 2030
Paris Trade Seminar
Du 12/03/2024 de 14:30 à 16:00
PSE, 48 boulevard Jourdan, 75014 Paris, salle R2-01
RAUCH Ferdinand (Heidelberg)
Identifying Agglomeration Shadows: Long-run Evidence from Ancient Ports
écrit avec R. Hornbeck and G. Michaels
We examine "agglomeration shadows" that emerge around large cities, which discourage some economic activities in nearby areas. Identifying agglomeration shadows is complicated by endogenous city formation, however, and a "wave interference" that we show in simulations. We use the locations of ancient Mediterranean ports, which seeded modern cities, to estimate shadows cast on nearby areas. These patterns extend to modern city locations, more generally, and illustrate how encouraging growth in particular places can discourage growth of nearby areas.
Applied Economics Lunch Seminar
Du 12/03/2024 de 12:30 à 13:30
Salle R2.21
MURARD Elie (University of Trento)
News, emotions, and policy views on immigration
How do emotions affect policy views on immigration? How do they influence the way people process and respond to factual information? We address these questions by using a survey experiment in Italy, which randomly exposes around 7,000 participants either to (i) sensational news about immigrant crimes, (ii) statistical information about immigration, (iii) or to the combination of both. First, we find different effects of news depending on the emotional load of the reported crime: while the news of a rape against a young woman significantly increases the demand for anti-immigration policies, there is no impact of the news of a petty theft. Consistent with a causal role of emotions, we find that the rape news triggers a stronger emotional reaction than the theft news, while having the same effect on factual beliefs. Second, we document that information provision corrects factual beliefs, irrespective of whether participants are also exposed to the rape news. Yet, the exposure to the rape news strongly influences whether belief updating translates into change in policy views: when presented in isolation, information tends to reduce anti-immigration views; when combined with the rape news, the impact of the latter dominates and participants increase their anti-immigration views to the same extent as when exposed to the rape news only. This evidence suggests that, once negative emotions are triggered, having more accurate factual knowledge no longer matters for forming policy views on immigration.
Roy Seminar (ADRES)
Du 11/03/2024 de 17:00 à 18:30
R1-09
CASTRO-PIRES Henrique (University of Surrey)
The Effect of Exit Rights on Cost-based Procurement Contracts (with Rodrigo Andrade and Humberto Moreira)
We examine the principal-agent problem concerning the design of a procurement contract for a firm that acquires information gradually and possesses exit rights. In the initial period, the firm receives a private signal regarding the project's cost. By the subsequent period, the firm gains full knowledge of the cost and determines whether to terminate the contract. Our findings indicate that for substantial ex-post outside option values, the optimal mechanism resembles a cost-plus contract. This implies that transfers are not contingent on ex-ante cost estimates but solely on actual costs. Our proof accommodates a cost-overrun interpretation of this result: we demonstrate that any non-cost-plus contract, which appears economically advantageous for the principal over the optimal cost-plus contract, induces incentives for the firm to misreport its expected cost and exercise the ex-post outside option in the event of high realized costs. Furthermore, we establish that, in contrast to scenarios lacking exit rights, competition among multiple firms for the project fails to eliminate firms' information rents, even in settings with an infinite number of competitors
Econometrics Seminar
Du 11/03/2024 de 16:15 à 17:30
Sciences Po, room H405
MENZEL Konrad (NYU)
Transfer Estimates for Causal Effects across Heterogeneous Sites
We consider the problem of extrapolating treatment effects across heterogeneous populations (sites/contexts). We consider an idealized scenario in which the researcher observes cross-sectional data for a large number of units across several experimental sites in which an intervention has already been implemented to a new target site for which a baseline survey of unit-specific, pre-treatment outcomes and relevant attributes is available. We propose a transfer estimator that exploits cross-sectional variation between individuals and sites to predict treatment outcomes using baseline outcome data for the target location. We consider the problem of determining the optimal finite-dimensional feature space in which to solve that prediction problem. Our approach is design-based in the sense that the performance of the predictor is evaluated given the specific, finite selection of experimental and target sites. Our approach is nonparametric, and our formal results concern the construction of an optimal basis of predictors as well as convergence rates for the estimated conditional average treatment effect relative to the constrained-optimal population predictor for the target site. We illustrate our approach using a combined data set of five multi-site randomized controlled trials (RCTs) to evaluate the effect of conditional cash transfers on school attendance.
Régulation et Environnement
Du 11/03/2024 de 12:00 à 13:30
R1-09
ZHANG Shuang (Imperial College London)
*Microclimate risks and urban businesses
A heat wave pans out differently across areas within a city. This paper documents these microclimate variations, estimates the damage function on urban small businesses, and studies mitigation strategies. We: (1) leverage high-resolution satellite data to document sub-city temperature variations during a hot day; (2) use geo-located revenue and consumer traffic data from over 150,000 restaurants and other eatery service establishments in a mega city of China to estimate the damage function of these microclimate shocks on business outcomes; and (3) present new evidence that urban green spaces around businesses mitigate the microclimate shocks they experience. Our research highlights location microclimate management as an important part of business strategies in the face of rising climate risks.
Casual Friday Development Seminar - Brown Bag Seminar
Du 08/03/2024 de 13:00 à 14:00
MONTOYA María (PSE)
Moral Force: Leaders’ Actions, Within-City Social Distancing and COVID-19
PSE Internal Seminar
Du 08/03/2024 de 12:00 à 13:00
BOYER Marcel (Université de Montréal)
Pour une réforme majeure de la social-démocratie et du capitalisme
There is a fundamental complementarity between social democracy and competition. A true social democracy is based on a clear definition of the respective roles of the public (governmental) and competitive (private) sectors in the provision of public and social goods and services (PSGS), such as education, health care, social security, and infrastructure. The main roles of the public or government sector are to define the basket of PSGS in quantity and quality and to manage performance incentive contracts with the (competitive) private sector responsible for producing and distributing these PSGS. Companies (capitalist, cooperative, NFP, social economy, etc.) then compete to obtain PSGS supply contracts and the public sector no longer needs to directly manage schools, hospitals and numerous other institutions serving the citizens.
Other proposed reforms include: the abolition or auctioning of subsidies and aid programs for businesses; the strengthening of pro-competition control of anti-competitive practices as well as business mergers and acquisitions; the determination of a significant and universal carbon price to encourage individuals and companies to internalize the environmental impacts of their strategies; the development of extended liability rules aimed at increasing the incentives of companies and their partners to prevent industrial and environmental accidents and to protect collateral victims; the elimination of taxes on corporate profits in order to thwart tax competition between states and to encourage companies to focus on their essential missions of wealth creation and investment in R&D and productivity. In fine, the proposed models of social democracy and capitalism arise from a conception of social sciences and economics in particular as the study of mechanisms of coordination, motivation, specialization, regulation and rules of exchange that conditions the development of collective intelligence, through the interconnexion of brains, in human society, of which the ability to exchange, particularly with strangers and across time, is a distinctive characteristic.
Social Democracy, Capitalism, and Competition: A Manifesto, McGill-Queen’s University Press, October 2023,
Macroeconomics Seminar
Du 07/03/2024 de 16:00 à 17:15
PSE- 48 boulevard Jourdan, 75014 Paris, salle R2-21
BLOMHOFF HOLM Martin (U of Oslo )
Asset-Price Redistribution
Over the last several decades, there has been a large increase in asset valuations across many asset classes. While these rising valuations had important effects on the distribution of wealth, little is known regarding their effect on the distribution of welfare. To make progress on this question, we develop a sufficient statistic for the money-metric welfare effect of deviations in asset valuations (i.e., changes in asset prices keeping cash flows fixed). This welfare effect depends on the present value of an individual’s net asset sales rather than asset holdings: higher asset valuations benefit prospective sellers and harm prospective buyers. We estimate this quantity using panel microdata covering the universe of financial transactions in Norway from 1994 to 2019. We find that the rise in asset valuations had large redistributive effects: it redistributed from the young towards the old and from the poor towards the wealthy.
Du 07/03/2024 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-09
GIUPPONI Giulia (Bocconi University)
Company Wage Policy in a Low-Wage Labor Market
écrit avec S. J. Machin
We study how firms set wages for their employees when they can legally age-discriminate across workers. We exploit an age-specific minimum wage change in the UK, which raised the minimum applying to workers aged 25 and over, leaving unchanged the minima for younger workers. Using matched employer-employee data on a low-paying sector, we
show large, positive wage spillovers on workers aged under 25, which arise within firms from company wage policy. Fairness norms offer the most plausible explanation for the emergence of spillovers. The effects that we document also operate in other low-paying sectors of the UK labor market.
brown bag Travail et Économie Publique
Du 07/03/2024 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-09
BREDA Thomas (PSE)
Intensive use of social media is associated with more body dissatisfaction of adolescent girls in two large cross-cultural surveys
We provide a large-scale investigation of the relationship between social media usage and body dissatisfaction in two distinct surveys covering respectively 50,000 teenagers between 15 and 16 y.o. in 8 countries and 200,000 teenagers between 11 and 17 y.o. in 33 countries. This relation is positive and large for girls—higher use of social networks is associated with higher dissatisfaction about their body—and negative or inexistent for boys. The positive relation for girls is observed in all 8 countries included in the first study, and 30 of the countries in the second study (statistically significant in 26 of them), covering very different cultural contexts (e.g., Georgia, Ireland, Spain, Mexico, Panama or Hong Kong). It concerns all girls, no matter their body mass index (BMI), their academic performance, their socioeconomic background, and their age. It is driven by girls being more likely to find themselves too fat (rather than too thin). Instrumenting social networks consumption by students’ or students’ peers’ internet access at home while controlling finely for other students’ or students’ peers’ household characteristics finally suggests that the relationship between social media usage and girls' body dissatisfaction could be causal.
PEPES (Paris Empirical Political Economics) Working Group
Du 07/03/2024 de 12:30 à 14:00
Room H405 at Sciences Po
LE PENNEC Caroline (HEC Montréal)
KEEP YOUR ENEMIES CLOSER: STRATEGIC PLATFORM ADJUSTMENTS DURING U.S.
écrit avec Rafael Di Tella, Randy Kotti, Vincent Pons
A key tenet of representative democracy is that politicians' discourse and policies should follow voters' preferences. In the median voter theorem, this outcome emerges as candidates strategically adjust their platform to get closer to their opponent. Despite its importance in political economy, we lack direct tests of this mechanism. In this paper, we show that candidates converge to each other both in ideology and rhetorical complexity. We build a novel dataset including the content of 9,000 primary and general election websites of candidates for the U.S. House of Representatives, 2002-2016, as well as 57,000 campaign manifestos issued by candidates running in the first and second round of French parliamentary and local elections, 1958-2022. We first show that candidates tend to converge to the center of the ideology and complexity scales and to diversify the set of topics they cover, between the first and second round, reflecting the broadening of their electorate. Second, we exploit cases in which the identity of candidates qualified for the second round is quasi-random, by focusing on elections in which they narrowly win their primary (in the U.S.) or narrowly qualify for the runoff (in France). Using a regression discontinuity design, we find that second-round candidates converge to the platform of their actual opponent, as compared to the platform of the runner-up who did not qualify for the last round. We conclude that politicians behave strategically and that the convergence mechanism underlying the median voter theorem is powerful.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 07/03/2024 de 12:30 à 13:30
R2-21
BI Wei (European University Institute)
Selling Incremental Products Optimally
This paper studies the intricacies of optimal selling mechanisms for incremental products, with a particular emphasis on scenarios where agents' private information profoundly influences their preferences across periods. To mitigate their intertemporal information rent, the manufacturer encourages upgrades through refunds rather than payments, introducing inefficiencies but maximizing profits. Our findings reveal that even without commitments, the manufacturer prefers innovative upgrades in the iterated products. Importantly, consumers bear all efficiency loss due to innovative upgrades. Additionally, we reveal that per-consumer information disclosure allows the manufacturer to strategically tailor disclosures about innovation, enhancing incentives for truthful reporting and extracting more surplus from specific consumer segments.
Behavior seminar
Du 07/03/2024 de 11:00 à 12:00
ZOOM
ALMåS Ingvild (Institute for International Economic Studies (IIES), Stockholm University)
Fairness Across the World
The paper reports from a large-scale study of people’s fairness preferences and beliefs, where 65 000 individuals from 60 countries make real distributive choices. We establish causal evidence on the role of the source of inequality and efficiency considerations for inequality acceptance, and we provide a rich description of people’s beliefs about the main sources of inequality and the cost of redistribution. We find large heterogeneities in both preferences and beliefs and show that they are strongly associated with people’s policy views on redistribution. The paper also studies how people’s fairness views relate to various country characteristics. In particular, we show that there are striking differences between the developed and developing countries in both fairness preferences and beliefs.
Development Economics Seminar
Du 06/03/2024 de 16:30 à 18:00
R2.01
DE WALQUE Damien (World Bank)
Early Education, Preferences, and Decision-Making Abilities
écrit avec Joana Cardim (Education Policy Institute) Pedro Carneiro (University College of London, IFS, CEMMAP, FAIR-NHH) Leandro S. Carvalho (University of Southern California) Damien de Walque (Development Research Group, The World Bank)[
One way to advance our understanding of individual differences in decision-making is to study the development of children’s decision-making. This paper studies the causal effects of daycare attendance on children’s economic preferences and decision-making abilities, exploiting a lottery system that randomized admissions into oversubscribed daycare centers in Rio de Janeiro. Overall, daycare attendance had no effect on either economic preferences or decision-making abilities. It did increase, however, aversion to disadvantageous inequality (i.e., having less than one’s peer). This increase is driven mostly by girls, a result that reproduces in a different study that randomized admissions into preschool education.
Economic History Seminar
Du 06/03/2024 de 12:00 à 13:30
R1.09
PAREDES CASTRO Héctor (PSE)
Land Without Masters: local political competition since the Peruvian Land Reform (1969-1980)
Can the historical exposure to redistribution spur local political competition and electoral participation in later elections? This study analyzes the massive land expropriation process executed under military rule in Peru from 1969 to 1980 and its effects over local politics with the return to democracy. The implementation of the reform was based on the creation of Agrarian Reform Zones (ARZ) and the use of regional offices for local execution located in high-priority reform areas within each ARZ. These zones were conceived and delimited for entirely different purposes a decade prior to the reform. Using the distance from a district to an ARZ office as an instrument, I show changes towards a more politically competitive local environment in land reform affected districts. In line with strategic responses to political competition, post-reform elections boost the participation of candidates with specific attributes: more educated, older and with indigenous background. Furthermore, candidates report more partisan experience but are also less associated with traditional politics. Evidence on driving mechanisms such as a dampened capacity of local elites for political capture, the growth of peasant-based social organization, and changes in voters’ preferences towards redistribution go in line with this interpretation.
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 05/03/2024 de 17:00 à 18:00
R1-10
ROUX Baptiste (PSE)
In Search of Working Time? Determinants of Hours Constraints
Applied Economics Lunch Seminar
Du 05/03/2024 de 12:30 à 13:30
Salle R2.21
RAPOPORT Hillel ()
From Paris With Love: Cultural Remittances and Modern Fertility
écrit avec Mickael Melki, Enrico Spolaore, Romain Wacziarg
We argue that migrants played a significant role in the diffusion of the demographic transition from France to the rest of Europe in the late 19th century. Employing novel data on French immigration from other European regions from 1850 to 1930, we find that higher immigration to France translated into lower fertility in the region of origin after a few decades - both in crossregion regressions for various periods, and in a panel setting with region fixed-effects. These results are robust to the inclusion of a variety of controls, and across multiple specifications. We also find that immigrants who themselves became French citizens achieved lower fertility, particularly those who moved to French regions with the lowest fertility levels. We interpret these findings in terms of cultural remittances, consistent with insights from a theoretical framework where migrants act as vectors of cultural diffusion, spreading new information, social norms and preferences pertaining to modern fertility to their regions of origin.
Roy Seminar (ADRES)
Du 04/03/2024 de 17:00 à 18:30
R1-09
GILBOA Itzhak (Tel-Aviv and HEC)
Likelihood Regions: An Axiomatic Approach
écrit avec Fan Wang and Stefania Minardi
We consider a reasoner who selects a set of distributions given a database of observations. A likelihood region is monotonic with respect to the likelihood function. We provide axiomatic foundations for such a selection rule. Starting with an abstract set of theories, we propose conditions on choice functions (across different databases) for which there exists a statistical model such that the choice function is a likelihood region relative to that model, for the general case and for the case of a fixed likelihood-ratio threshold. We interpret the results as supporting the notion of likelihood regions for the selection of theories.
Paris Migration Economics Seminar
Du 04/03/2024 de 12:30 à 13:30
R1-14
BRISELLI Giulia (ESCP)
One bed, two dreams: Female migration, conservative norms and foreign brides in South Korea
Migration affects a country’s social and demographic outcomes, such as marriage and fertility. However, the effects of internal migration on family formation are still not well documented. In this paper, I study how internal migration affects the marriage market and fertility rates. In particular, I use the setting of South Korea to analyze how female internal mobility affects the demand for marriages between local men and immigrant brides. I then investigate the implications of both female internal mobility and foreign brides for fertility rates. To obtain causal identification, I estimate these effects using a two-way fixed effect model and an enclave instrument based on past internal migration. I find that an increase in out-migration of local women raises the demand for immigrant brides, particularly in rural areas. I also find a negative effect of female out-migration on fertility, which is partially offset by the arrival of foreign brides. Further, I demonstrate that the gap in gender attitudes between younger generations of Korean men and women in part explains both female internal mobility and the demand for foreign brides. I empirically show that the "import" of brides from different countries is the response to a marriage squeeze brought by female internal migration.
Régulation et Environnement
Du 04/03/2024 de 12:00 à 13:30
R1-09
CHRISTENSEN Peter (university od Illinois)
* Incentive-Based Pay and Building Decarbonization: Experimental Evidence from the Weatherization Assistance Program
Abstract: Building energy efficiency is a cornerstone of greenhouse gas mitigation strategies with billions of dollars set aside for extensive upgrades in the coming years. However, impact evaluations have revealed actual energy savings from home upgrade programs often fall short of projections, in part due to contractor underperformance. Using field experiment results, we show refining one program design element—offering performance bonuses to contractors--increased natural gas savings by 24% and generated $5.39-$14.53 in social benefits per dollar invested. Hence, how money is allocated within government programs may be as important as choosing among programs for maximizing returns to public spending
Casual Friday Development Seminar - Brown Bag Seminar
Du 01/03/2024 de 13:00 à 14:00
R1-09
WEBB Duncan (PSE)
Menstrual Stigma, Hygiene, and Human Capital: Experimental Evidence from Madagascar
EU Tax Observatory Seminar
Du 01/03/2024 de 12:00 à 13:00
Salle R1-14
MARIE Olivier (Erasmus School of Economics)
Tax-Induced Emigration: Who Flees High Taxes? Evidence from the Netherlands
écrit avec with José Victor C. Giarola, Frank Cörvers and Hans Schmeets
We study the impact of a policy change in the Netherlands that reduced
preferential tax treatment duration for high-skilled migrants arriving from specific
countries in certain years. Utilizing comprehensive tax and population data, we
document substantial tax-induced emigration responses, primarily driven by the top 1%
of earners. Highly mobile individuals within the top 5% also emigrate sooner,
particularly to competing countries offering tax-breaks to attract skilled workers.
Crucially, we uncover no change in mobility behavior among lower-earning workers. The
increased tax receipts from lower-income individuals who remain offset the loss from
fleeing high earners, making the policy fiscally cost-neutral.