Calendrier du 03 mai 2024
Casual Friday Development Seminar - Brown Bag Seminar
Du 03/05/2024 de 13:00 à 14:00
R1-09
AHMED Resuf ()
Does Political Quotas Lead to Development? Evidence from India
EU Tax Observatory Seminar
Du 03/05/2024 de 12:00 à 13:00
Salle R1-14
STAGE Barbara (WHU)
The Value of a Loss: The Impact of Restricting Tax Loss Transfers
écrit avec with Theresa Bührle, Elisa Casi and Johannes Voget
We study the economic consequences of anti-loss trafficking rules, which disallow the use of loss carry-forwards as tax shield after a substantial ownership change. We use staggered changes to anti-loss trafficking rules in the EU27 Member States, Norway and United Kingdom from 1998 to 2019 and find that limiting the transfer of tax losses reduces the number of M&As by 18%. The impairment is driven by loss-making targets. Turning to the broader impact on industry dynamics, we find decreases in survival rates of young companies in response to tighter regulations. Some of these start-up deaths are compensated by new firm entrants. We further detect that loosening of regulation spurs firm entry and survival. Finally, tightening (loosening) anti-loss trafficking rules impairs (increases) return on assets, especially for R&D-intensive firms that are more prone to loss-making in their life cycle.
EPCI (Economie politique du changement institutionnel) Seminar
Du 03/05/2024 de 11:00 à 12:30
MSE salle 116
FLORES Ignacio (World Inequality Database, PSE)
Does Land Inequality Magnify Climate Change Effects? Evidence from France
This paper investigates how the concentration of farmland mediates the impact of climate change on agricultural productivity, with direct implications on resilience to heatwaves. We use a unique combination of French cadastral data and satellite imagery to demonstrate that more unequally distributed land entail greater losses during and after climatic shocks, primarily due to a lack of crop diversity resulting from specialisation. Contrarily to what is found in natural ecosystems in the biology literature, we uncover a productivity-resilience tradeoff, according to which more unequal regions, i.e, less diverse, tend to be less resilient but more productive. Our findings have implications for farmers and policymakers, who should consider these tradeoffs to ensure food security and price stability in the face of the climate crisis.