Calendrier du 22 novembre 2021
Roy Seminar (ADRES)
Du 22/11/2021 de 17:00 à 18:15
R1-09 Campus Jourdan 75014 Paris
STRAUSZ Roland (Humboldt University Berlin)
Principled Mechanism Design with Evidence
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 22/11/2021 de 13:00 à 14:00
MSE(106, Blv de l'Hôpital, salle 116) 75013 Paris
REVERDY Camille (University of Paris 1 )
Building a new reputation: the impact of the adoption of voluntary standards
Raising environmental awareness has lead to the proliferation of environmental management systems (EMS). An EMS helps organizations identify, manage, monitor and control their environmental issues in a “holistic” manner. It also aims at helping the organization to reduce its environmental impacts and increase its operating efficiency. Using detailed French administrative data, I first estimate the effect of certification on firm performance. I observe that the environmental certification acts as a `signal' allowing firms to sell their products at a higher price. However, this effect is heterogeneous across firms, i.e: bigger firms are able to export more once certified whereas the increase in production costs is too large for smaller firms, and across products (the effect is magnified for differentiated products). Secondly, the environmental certification positively affects firms' environmental performance through investments.
Régulation et Environnement
Du 22/11/2021 de 12:00 à 13:15
Salle R2-21 - Campus Jourdan - 75014 PARIS
MAUE Casey (PSE)
Exact Integration of Climate and Weather in Estimating Climate Damages
We develop a novel econometric approach to measuring the economic impacts of climate change and use this method to estimate the effects of marginal climate change on profits in the U.S. agricultural sector. Our method is grounded in a theoretical framework where agents make production decisions and adaptive decisions to optimize expected profits with respect to the long-run local climate. We treat the climate as a distribution separately from weather, which is viewed as a draw from the distribution, and use full information about both for the estimation. In the first part of our analysis, we derive an analytical expression for the economic value of a marginal change in the climate that incorporates the expectation over the weather distribution that would result in a marginally changed climate. Next, we show how to empirically measure this marginal product in a simplified setting where economic value is determined by a vector of weather parameters. Finally, we apply this empirical framework to the climate of the modern United States using measures of agricultural profits and heating degree-days covering the period from 1954 to 2017. Our results indicate that climate impacts driven by changes in the expected value of the agricultural production function over a marginally changed weather distribution account for only a modest share of overall effects. This result highlights that climate change may not only affect economic outcomes through changing the distribution of weather, but also via effects on non-weather inputs to production technologies.