Calendrier du 15 novembre 2018
Macroeconomics Seminar
Du 15/11/2018 de 15:45 à 17:00
PSE - 48 boulevard Jourdan, 75014 Paris, salle R2-21
BALEY Isaac (CREI)
Aggregate Dynamics in Lumpy Economies
écrit avec Andres Blanco
We develop a new framework to analyze the aggregate implications of lumpiness in microeconomic
adjustment, which is pervasive in many economic environments. We derive structural relationships
between the steady state moments and the business cycle dynamics of lumpy economies, and we show
how to discipline these relationships using panel microdata. As an application, we study capital
misallocation and investment dynamics by implementing our tools on establishment-level data from
Chile and Colombia. Our framework is very flexible and can accommodate a large set of inaction
models, stochastic processes, and higher order dynamics.
Texte intégral
PEPES (Paris Empirical Political Economics) Working Group
Du 15/11/2018 de 13:00 à 14:00
salle R2-01, campus Jourdan - 48 bd Jourdan 75014 Paris
SHAYO Moses (Hebrew University of Jerusalem and King's College London)
How Do We Choose Our Identity? A Revealed Preference Approach Using Food Consumption
écrit avec David Atkin and Eve Sihra
Travail et économie publique externe
Du 15/11/2018 de 12:30 à 13:45
FERNáNDEZ SIERRA Manuel (University of Essex)
Women’s Labor Force Participation and the Distribution of the Gender Wage Gap
écrit avec Co-author: Sonia Bhalotra
We analyse how the rising labor force participation of women influences the distribution of the gender pay gap and inequality. We formulate an equilibrium model of the labor market in which the elasticity of substitution between male and female labor varies with the task content of occupations. We structurally estimate the parameters using individual data from Mexico between 1989 and 2014, when women's labor force participation increased by fifty percent. We provide novel evidence that male and female labor are closer substitutes in highpaying abstract task-intensive occupations than in lower-paying manual and routine task-intensive occupations. Consistent with this, we find a widening of the gender pay gap at the lower end of the distribution, alongside a narrowing towards the top. We also find that demand side trends favoured women, attenuating the supply-driven negative pressure on their wages, and more so among college-educated workers in abstract-intensive occupations. The paper contributes new evidence on the distribution of the gender wage gap, and contributes to a wider literature on technological change, occupational sorting and wage inequality.
Behavior seminar
Du 15/11/2018 de 11:00 à 12:00
salle R2-01, campus Jourdan - 48 bd Jourdan 75014 Paris
SHAYO Moses (Hebrew University of Jerusalem and King's College London)
How Do Markets Affect Values and Behavior? Emerging Patterns from Three Studies
écrit avec Saumitra Jha, Yotam Margalit and Itay Sisso
Can participation in financial markets lead individuals to re-evaluate the costs of conflict, change their political attitudes and even their votes? Prior to the 2015 Israeli elections, we randomly assigned Palestinian and Israeli financial assets to likely voters, and incentivized them to actively trade for up to seven weeks. No political messages or non-financial information were included. The treatment systematically shifted vote choices towards parties more supportive of the peace process. This effect is not due to a direct material incentive to vote a particular way. Rather, the treatment reduces opposition to concessions for peace, and increases awareness of the broader economic risks of conflict. While participants assigned Palestinian assets are more likely to associate their assets' performance to peace, they are less engaged in the experiment. Combined with the superior performance of Israeli stocks during the study period, the ultimate effects of Israeli and Palestinian assets are similar.
How does engagement with markets a ect social-economic values and political pref-
erences? A long line of thinkers have debated the nature and direction of such e ects,
but claims are dicult to assess empirically because market engagement is endoge-
nous. We designed a large eld experiment to evaluate the impact of nancial markets,
which have grown dramatically in recent decades. Participants from a national sample
in England received substantial sums they could invest over a six-week period. We
assigned them into several treatments designed to distinguish between di erent the-
oretical channels of in
uence. Investment in stocks led participants to adopt a more
right-leaning outlook on issues such as merit and deservingness, personal responsibil-
ity and equality. Subjects also shifted to the right on policy questions. These results
appear to be driven by growing familiarity with, and decreasing distrust of markets.
The spread of nancial markets thus has important and under-appreciated political
rami cations.
Behavior Working Group
Du 15/11/2018 de 10:00 à 10:45
COMPTE Olivier (PSE)
A war game