Calendrier du 08 novembre 2021
Econometrics Seminar
Du 08/11/2021 de 17:30 à 18:45
SANTOS Andres (UCLA)
Inference for Large-Scale Linear Systems with Known Coefficients
écrit avec Co-authors: Z. Fang, A. Shaikh, and A. Torgovitsky
This paper considers the problem of testing whether there exists a non-negative solution to a possibly under-determined system of linear equations with known coefficients. This hypothesis testing problem arises naturally in a number of settings, including random coefficient, treatment effect, and discrete choice models, as well as a class of linear programming problems. As a first contribution, we obtain a novel geometric characterization of the null hypothesis in terms of identified parameters satisfying an infinite set of inequality restrictions. Using this characterization, we devise a test that requires solving only linear programs for its implementation, and thus remains computationally feasible in the high-dimensional applications that motivate our analysis. The asymptotic size of the proposed test is shown to equal at most the nominal level uniformly over a large class of distributions that permits the number of linear equations to grow with the sample size.
Texte intégral
Régulation et Environnement
Du 08/11/2021 de 17:00 à 18:15
On line
CARLETON Tamma (UCSB)
The global water footprint of distortionary agricultural policy
Global demands on freshwater resources are rising. While policy responses have focused on the design of local water institutions, distortions in the global market for agricultural goods can lead to overproduction of water-intensive goods in regions where water is relatively scarce. In this paper, I combine satellite- derived measures of water availability with a collection of spatial and admin- istrative datasets to provide globally-comprehensive, empirical estimates of the influence of policy distortions in agricultural markets on local water supplies. I find that interventions raising domestic agricultural output prices significantly lower local water availability, particularly for water-intensive crops and in lo- cations most suitable for those crops. I then quantify the impact that recent liberalization of agricultural markets has had on water resources. I find that in locations with declining water resources, water supplies would be 16% lower had liberalization not taken place. These water savings are largest in locations with higher baseline levels of water stress. In contrast, liberalization slightly re- duces water supplies in locations with low water stress. These findings suggest that reducing agricultural market distortions may alleviate global water stress by slowing extraction where water is most scarce.
Roy Seminar (ADRES)
Du 08/11/2021 de 17:00 à 18:15
Salle R1-09 - Campus Jourdan - 75014 PARIS
POGGI Francisco (University of Mannheim)
A Taxation Principle with Non-Contractible Events
écrit avec STRULOVICI Bruno
The Taxation Principle says that, under certain conditions, using a “tax” mechanism is without loss of optimality. The taxation principle requires that actions are observable, all outcomes are contractible, and utility is quasilinear. This is not a useful result to study for example the design of liability rules reckless behaviour is only observed if an accident happens. We generalise the Taxation Principle for settings where actions are imperfectly observable, not all outcomes are contractible (meaning that the principal can “tax” the agent only after certain events occur), and agents don’t necessarily have quasilinear utilities. We apply this new Taxation Principle to the problem of designing liability rules when firms with private information about product’s riskiness acquire more information before launching a new product to the market.
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 08/11/2021 de 13:00 à 14:00
MSE(106, Blv de l'Hôpital, salle 116) 75013 Paris
CHAVEZ Emmanuel (PSE)
Who pays for a Value Added Tax Hike at an International Border? Evidence from Mexico
écrit avec Cristóbal Domínguez (Comisión Nacional Bancaria y de Valores)
This research studies the effects of a value added tax (VAT) reform at Mexico's international frontiers. The reform raised the VAT rate from 11 to 16 percent at localities close to the international borders. We use the traditional ``static'' difference-in-differences methodology as well as dynamic difference-in-differences. The treatment group is composed of municipalities in the area where the VAT increased, and the control group is composed of municipalities close to the treatment group. We find that the VAT hike had a positive effect on prices of around half the size of the full pass-through conterfactual. In addition, the reform had a negative effect on workers' wages and no effect on employment. The negative effect on workers' real incomes is not smoothed out with credits. We find evidence of a negative effect on consumption at Mexico's northern border due to the reform. However, we find no evidence of an increase in shopping at the United States side of the border.