Calendrier du 03 octobre 2024
Macroeconomics Seminar
Du 03/10/2024 de 16:00 à 17:15
PSE- 48 boulevard Jourdan, 75014 Paris, salle R2-21
BAYER Christian (U Bonn)
Distributional Dynamics
écrit avec Luis Calderon, University of Bonn and Moritz Kuhn, University of Mannheim CEPR, and IZA
We develop a new method for deriving high-frequency synthetic distributions of con-
sumption, income, and wealth. Modern theories of macroeconomic dynamics identify the
joint distribution of consumption, income, and wealth as a key determinant of aggregate
dynamics. Our novel method allows us to study their distributional dynamics over time.
The method can incorporate different microdata sources, regardless of their frequency and
coverage of variables, to generate high-frequency synthetic distributional data. We extend
existing methods by allowing for more flexible data inputs. The core of the method is to
treat the distributional data as a time series of functions that follow a state-space model,
which we estimate using Bayesian techniques. We show that the novel method provides
the high-frequency distributional data needed to better understand the dynamics of con-
sumption and its distribution over the business cycle
Texte intégral
PEPES (Paris Empirical Political Economics) Working Group
Du 03/10/2024 de 12:30 à 13:45
R2-01
GIRAY AKSOY CEVAT ((EBRD & Kings College London)) *;
La séance est annulée
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 03/10/2024 de 12:30 à 13:30
R1-15
VELLODI Nikhil (PSE)
A Theory of Self-Prospection
écrit avec Polina Borisova (PSE)
A present-biased decision maker (DM) faces a two-armed bandit problem whose risky arm generates random payoffs at exponentially distributed times. The DM learns about payoff arrivals through informative feedback. At the unique stationary Markov perfect equilibrium of the multi-self game, positive feedback supports greater equilibrium welfare than both negative and transparent feedback. Regardless of the form of feedback, the DM's behavior exhibits indecision, deriving from their desire to procrastinate. We relate our findings to the theory of {it self-prospection} --- the process of imagining future goals and outcomes when seeking motivation in the present.
Behavior seminar
Du 03/10/2024 de 11:00 à 12:00
R2-21
CALCAGNO Riccardo (Politecnico di Torino)
Financial Literacy, Human Capital and Long-Run Economic Growth
Financial literacy has gained momentum in the policy arena and several countries are currently promoting it. Despite the undeniable importance of financial literacy in improving the allocation of savings across alternative uses, the impact of these policies on economic growth is not obvious. Indeed, financial literacy is a specialized form of human capital, thus favoring financial education may deter general education eventually generating detrimental effects on growth. This paper relies on an endogenous growth framework where human capital can be employed to accumulate financial literacy to assess the conditions under which the current policy setting may be beneficial in the long run. Our calibration based on the US economy over the 1950-2019 period shows that this may effectively be the case if the impact of financial literacy on the allocational efficiency of the financial sector is sufficiently strong
Behavior Working Group
Du 03/10/2024 de 10:00 à 11:00
R2-21
DAGORN Etienne (INED)
The Roots of Gendered Behaviour : online experiment with teachers
Evidence shows that teachers interact differently with boys and girls, grade them differently and provide different feedback and career advice. These gendered teaching practices have significant effects on boys' and girls' school achievement and educational choices, especially in scientific subjects where strong gender stereotypes prevail. However, little is known about the behavioral roots of such gendered practices. We first develop a theoretical model to rationalize teachers' potential gendered behaviour. We then empirically test those mechanisms using an online experiment with secondary education teachers from several subjects. Teachers are asked to evaluate fictitious school transcripts for which we randomly change the information displayed, namely the student's gender (to measure the extent of their gendered practices). Then, they are invited to play a set of gender-blind and gender-revealed dictator games (to measure gender identity) and to take an implicit association test (to measure gender implicit biases). The preliminary results will be presented during the talk.