Calendrier du 04 avril 2019
Macroeconomics Seminar
Du 04/04/2019 de 15:45 à 17:00
PSE - 48 boulevard Jourdan, 75014 Paris, salle R2-21
KEHRIG Matthias (Duke University)
Good dispersion, bad dispersion
écrit avec Nicolas Vincent
Dispersion of marginal revenue products of inputs across firms are commonly thought to reflect misallocation. Consistent with that view, aggregate output monotonically declines in dispersion. We show that non-convex distortions to a firm’s problem may break this monotonicity such that dispersion and efficiency are related in an inverted U-shaped fashion. Eliminating distortions may thus increase dispersion of marginal revenue products while improving the allocation and raising output. In a quantitative model of the U.S. manufacturing sector, we find that one quarter of dispersion reflects “good” allocations while only the remaining three quarters may reflect inefficient distortions. An important implication of this insight is that the welfare effects of eliminating distortions in emerging economies are larger than previously thought.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 04/04/2019 de 12:30 à 13:30
salle R2-01, campus Jourdan - 48 bd Jourdan 75014 Paris
XING Zhaojun (Bielefeld/Paris 1/PSE)
Voronoi Language Games with Knightian Uncertainty
Texte intégral
PEPES (Paris Empirical Political Economics) Working Group
Du 04/04/2019 de 12:30 à 14:00
Sciences Po - 28 rue des Saints-Pères, 75007 Paris
WACZIARG Romain (UCLA)
*
brown bag Travail et Économie Publique
Du 04/04/2019 de 12:30 à 13:30
MALGOUYRES Clement (CREST)
Technology-induced Trade Shocks? Evidence from Broadband Expansion in France
écrit avec Co-authors: Thierry Mayer and Clément Mazet-Sonilhac
In this paper, we test for the presence of “technology-induced” trade in France between 2000 and 2007 and assess its impact on consumer welfare. We use the staggered roll-out of broadband internet to estimate its causal impact on the importing behavior of firms. Using an event-study design, we find that broadband expansion increases imports. Our estimates imply that the increase in the value of imports in the absence of broadband expansion would have been a 15% lower. We further find that the sub-extensive margin (number of products and sourcing country per firm) is the main margin of adjustment and that the impact is higher for capital goods. Finally, we develop a firm-based model of importing and adopt a sufficient statistics approach in order to quantify the contribution of the import-channel to the overall effect of broadband on consumer welfare. Within this model, our reduced-form estimates imply that broadband internet reduced the consumer price index by 1.7% and that the import-channel accounts for a quarter of that effect.