Calendrier du 06 décembre 2021
Roy Seminar (ADRES)
Du 06/12/2021 de 17:00 à 18:15
Online
GARRETT Dan (University of Essex)
Relational Contracts: Public versus Private Savings
écrit avec Francesc DILME
We study relational contracting with an agent who has consumption-smoothing preferences as well as the ability to save to defer consumption (or to borrow). Our focus is the comparison of principal-optimal relational contracts in two settings. The first where the agent’s consumption and savings decisions are private, and the second here these decisions are publicly observed. In the first case, the agent smooths his consumption over time, the agent’s effort and payments eventually decrease with time, and the balances on his savings account eventually increase. In the second, the agent consumes earlier than he would like, consumption and the balance on savings fall over time, and effort and payments to the agent increase. There is convergence to efficiency in the long run. Our results suggest a possible explanation for low savings rates in certain industries where compensation often comes in the form of discretionary payments.
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GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 06/12/2021 de 13:00 à 14:00
MSE(106, Blv de l'Hôpital, salle 116) 75013 Paris
ABELE Christian (PSE)
Reputation in International Trade - Evidence from the Fukushima Nuclear Disaster
écrit avec Kentaro Asai (PSE)
A country’s reputation may be an important determinant of its ability to export but the effect is notoriously difficult to isolate from underlying product attributes. We exploit the Fukushima nuclear disaster as a sudden large-scale shock to the reputation of Japanese food exports, where nonetheless not all products were affected similarly. Since exposure to radiation and import bans varied by product and prefecture, we use agricultural production data to identify unaffected products and compare their exports to exports of other countries in the same destination market. For all exports to the EU we find, a massive but short-lived drop in the value and number of products exported while prices increased. Unaffected products exhibit attenuated effects indicating that a change in the perceived riskiness of a country plays a role in explaining trade flows.
Régulation et Environnement
Du 06/12/2021 de 12:00 à 13:15
Salle R2-21 - Campus Jourdan - 75014 PARIS
RICK VAN DER PLOEG (University of Oxford)
Carbon pricing and portfolio diversification