Calendrier du 20 mars 2023
Roy Seminar (ADRES)
Du 20/03/2023 de 17:00 à 18:15
Salle R1-09, Campus Jourdan, 75014 Paris
JULLIEN Bruno (Toulouse School of Economics)
*Communication, Feedback and Repeated Moral Hazard with Short-lived Buyers joint with In-Uck Park (Bristol University)
We show that experience good sellers facing myopic buyers can solve the inherent moral hazard problem by communicating their observation of quality before trade, provided that communication is part of their public track record. Such cheap-talk communication, if trusted, allows market prices to reflect the actual value created, thus providing an immediate reward for the seller’s effort which complements the conventional, reputational incentives. We characterize the conditions for communication to improve efficiency–which requires the moral hazard problem to be acute enough and the seller’s information to be precise enough–and the extent to which it does so.
Paris Migration Economics Seminar
Du 20/03/2023 de 12:30 à 13:30
Salle R1.14, Campus Jourdan
DéMURGER Sylvie (IAO Lyon/ CNRS)
Migration and financial inclusion - Evidence from rural Chinese households
écrit avec Anna Jolivet (U. of Namur)
This paper assesses the effect of rural-to-urban migration on sending households' financial practices and investigates the various mechanisms possibly driving this effect. China is an attractive case for this study as it combines massive internal migration flows with dramatic changes in financial services over the past 20 years. Using household-level data from rural China in 2018 and applying an instrumental variable approach, we show that the use of financial services by left-behind families is altered by migration. We specifically explore the access to formal savings, the use of digital payments and the types of debts that households take on. We further disaggregate our analysis to investigate any differential impact of migration across various types of households. As far as the mechanisms at stake are concerned, we examine the income effect of remittances on financial practices, as well as changes that may be driven by a transfer of practices and knowledge and/or by a shift in the decision-making power within the household
Régulation et Environnement
Du 20/03/2023 de 12:00 à 13:15
Salle R1-09, Campus Jourdan, 75014 Paris
KOUSKY Carolyn (Wharton/EDF)
*Can Insurance Help Solve Environmental and Social Challenges?
"Risk management will be central to environmental and social progress in the coming decades as we face the interconnected global challenges of climate change, widespread biodiversity loss, and inequities in the impacts. Households and firms, communities and countries, all face rapidly escalating physical risks, as well as transition risks. To not only persevere through these generation-defining challenges, but transition to a world where people and the planet can thrive, insurance and risk transfer could be critical to enabling economic change, directing capital toward sustainable futures, facilitating needed investments, and providing inclusive and equitable financial protection. Is insurance up to the task? This talk will discuss innovations in insurance products, partnerships, and approaches that are being designed to support environmental and social goals."