Calendrier du 14 septembre 2023
PEPES (Paris Empirical Political Economics) Working Group
Du 14/09/2023 de 12:30 à 14:00
R2.01
SOUZA Pedro () De-Escalation Technology: The Impact of Body-Worn Cameras on Citizen-Police Interactions ; écrit avec Daniel Barbosa, Thiemo Fetzer, and Caterina Viaira
La séance est annulée
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 14/09/2023 de 12:30 à 13:30
R2- 21
MOISSON Paul-Henri (PSE)
Meritocracy and Inequality
The paper develops a model of career concerns in which agents publicly choose between several activities in which to exert effort, yet differ along a privately observable characteristic (headstart) that affects their performance. The agents' audience values their talent, effort and headstart. We highlight the race between two effects: a displacement effect by which the poor (headstart-wise) try to avoid a lower talent image and thus avoid the activity chosen by the rich, and a distinction effect by which the rich try to reap a higher headstart image and thus avoid the activity chosen by the poor. While displacement drags the poor towards activities with lower incentives on effort, distinction pulls the rich towards activities with higher incentives. We interpret the model in terms of meritocracy, characterize optimal activity design and discuss several policy implications, emphasizing the unintended consequences of common interventions
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brown bag Travail et Économie Publique
Du 14/09/2023 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-09
BOMARE Jeanne ()
Avoiding Transparency through Offshore Real Estate: Evidence from the UK
This paper provides evidence of the growing importance of real estate assets in offshore portfolios. We study offshore real estate investments in the UK using administrative data on real estate purchases made by foreign companies. First, we show that this market is large and highly secretive: around 5% of total UK real estate wealth was held from abroad in 2018, mostly through tax havens. We match administrative records to corporate registers and leaks to shed light on the ultimate ownership of properties, and find that most offshore investments to the UK can be traced back to individuals from the UK and from the Middle East. Second, we study the implementation of the first multilateral automatic exchange of information norm, the Common Reporting Standard (CRS), which introduces cross-border reporting requirements for financial assets but not for real estate assets. We show that for tax havens, exposure to the policy is associated to a significant increase in real estate investments. We estimate that around $45 billion has been invested in the UK real estate market between 2013 and 2016 in reaction to the CRS. This suggests that at a global scale, a substantial portion of wealth that flowed out of tax havens following the policy change was ultimately invested in properties.