Calendrier du 02 octobre 2019
Histoire des entreprises et de la finance
Du 02/10/2019 de 17:00 à 19:00
Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris
VERDICKT Gertjan(Anvers)
VERDICKT Gertjan(Anvers)
Go Active or Stay Passive: Investment Trusts, Financial Innovation and Diversification in an Emerging Market”
écrit avec with Jan Annaert
Histoire des entreprises et de la finance
Du 02/10/2019 de 17:00 à 19:30
VERDICKT Gertjan(Anvers)
VERDICKT Gertjan(Anvers)
Go Active or Stay Passive: Investment Trusts, Financial Innovation and Diversification in an Emerging Market
Development Economics Seminar
Du 02/10/2019 de 14:00 à 15:30
Salle R2.01, Campus Jourdan 48 Bd Jourdan 75014 Paris
BREZA Emily (Harvard University)
LABOR RATIONING: A REVEALED PREFERENCE APPROACH FROM HIRING SHOCKS
écrit avec Supreet KAUR and Yogita SHAMDASANI
Assessing unemployment levels is empirically challenging. Economists currently rely on survey self-reports, whose reliability is unknown and which make it difficult to disentangle those who have exited the labor force and the self-employed from rationed workers. In this paper, we develop an approach to obtain the first revealed preference estimates of labor rationing. We generate large transitory hiring shocks in Indian local labor markets — hiring up to 35% of the male labor force for month-long work in external factories. We examine the impact of these transitory shocks on the local labor market to diagnose the extent of rationing. We find evidence for severe labor rationing during lean seasons, which account for 6 months of the year.
Specifically, “removing” a large portion of workers leads to (i) no change in the local wage, and (ii) no change in local aggregate employment levels (excluding our exter- nal jobs); this is due to one-for-one positive employment spillovers on the remaining workers who benefit from decreased competition for job slots. We further decompose rationing into involuntary unemployment and disguised unemployment (self-employed workers who would prefer wage labor). In contrast, we detect limited evidence for labor rationing during peak employment seasons: in these months, transitory exter- nal hiring shocks increase local wages and reduce local aggregate employment. In addition, we show that traditional government surveys substantively underestimate unemployment in this setting. This approach can be extended to obtain revealed preference bounds on involuntary unemployment in diverse settings.
Economic History Seminar
Du 02/10/2019 de 12:30 à 14:00
Salle R2.01, Campus Jourdan 48 Bd Jourdan 75014
HOFFMAN Philip(Caltech)
POSTEL-VINAY Gilles()
ROSENTHAL Jean-Laurent(California Institute of Technology)
Dark Matter Credit, The development of peer-to-peer lending and banking in France. Princeton University Press, 2019