Calendrier du 13 juin 2019
Macroeconomics Seminar
Du 13/06/2019 de 15:45 à 17:00
PSE - 48 boulevard Jourdan, 75014 Paris, salle R2-21
PEYDRO JOSE-LUIS (UPF)
From Finance to Fascism:The Real Effectof Germany’s 1931 Banking Crisis
écrit avec Sebastian Doerr, Stefan Gissler and Hans-Joachim Voth
Do financial crises radicalize voters? We analyze a canonical case –Germanyduring the Great Depression. After a severebanking crisis in 1931, caused by foreign shocks and political inaction, radical voting increased sharply in the following year. Democracy collapsed six months later. We collect new data on pre-crisis bank-firm connections and show that banking distress led to markedly more radical voting, both through economic and non-economic channels. Firms linked totwo large banks that failed experienced a bank-driven fall in lending, which caused reductions in their wage bill and a fall in city-level incomes. This in turn increased Nazi Party support between 1930 and 1932/33, especially in cities with a history of anti-Semitism. While both failingbanks had alarge negative economic impact, only exposure to the bank led by aJewish chairman strongly predicts Nazi voting. Local exposure to the banking crisis simultaneously led to a decline in Jewish-gentile marriagesand isassociated withmore deportations and attacks on synagoguesafter 1933.
Texte intégral
PEPES (Paris Empirical Political Economics) Working Group
Du 13/06/2019 de 12:30 à 14:00
Sciences Po - 28 rue des Saints-Pères, 75007 Paris
SVIATSCHI Maria Micaela (Princeton University)
*
brown bag Travail et Économie Publique
Du 13/06/2019 de 12:30 à 13:30
COTTET Sophie (University of Stavanger, Norway)
Reducing Social Security Contributions: More Employment, Higher Wages or Increased Profits?
Social Security Contributions (SSCs) are a major source of revenue for some countries, generating a large gap between the labor cost an employer faces and the wage effectively earned by an employee. In France, SSCs nominally paid by the employer are particularly high, representing an additional cost for labor of around one third of the gross wage. This high level of employer SSCs is combined to a large minimum wage. Altogether, the rigidities on the gross wage at the bottom of the wage spectrum and the high rate of employer SSCs have been suspected of fostering unemployment of less qualified workers. Since 1993, several reforms have reduced employer SSCs for low wages in order to favor employment. Building on previous works and implementing precise microsimulation of SSCs, I take a new look at the effect of the extension of these SSC reductions that took place between 1995 and 1997. I explore firm-level effects of this reform by implementing a dynamic difference-in-difference strategy with different levels of “treatment”. I find that reducing SSCs had a strong impact on employment, but only on a very short term. The most affected firms also increased their profits. I found however no effect on average wage progression for different wage groups.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 13/06/2019 de 12:30 à 13:30
salle R2-20, campus Jourdan - 48 bd Jourdan, 75014 Paris
BLOCH Francis ( Université Paris 1 Panthéon Sorbonne)
Hiding in networks
écrit avec Bhaskar Dutta and Marcin Dziubinsky