Calendrier du 30 janvier 2017
Roy Seminar (ADRES)
Du 30/01/2017 de 17:00 à 18:30
Salle E001, RDC Bâtiment E, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
TRANNOY Alain ()
Land is back... and it should be taxed
écrit avec Odran BONNET, Guillaume CHAPELLE and Etienne WASMER
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 30/01/2017 de 13:00 à 14:00
MSE(106, Blv de l'Hôpital, salle S/19) 75013 Paris
PITON Sophie (PSE)
Economic Integration and the Non-tradable Sector: The European Experience
Abstract:
This article shows that not only market integration but also financial and monetary integration can affect the dynamics of the non-tradable sector. And if the non-tradable sector expands relative to the tradable sector, economic integration can lead to a transitory accumulation of current account deficits. Adapting a model of structural change for a small open economy with a tradable and a non-tradable sector, this paper shows that market and financial integration lead to a relative price increase which can result in a relative expansion of the non-tradable sector. Financial integration also fosters a temporary demand boom in peripheral economies, leading to an expansion of the non-tradable sector and an accumulation of current account deficits. Using a novel data set for 16 countries of the Euro area, this article documents the expansion of the non-tradable sector over 1996-2007 in the Euro area periphery --significant even when excluding the housing sector from the sample. This expansion happened simultaneoulsy to (i) faster productivity growth in the tradable sector than in the non-tradable sector (ii) declining long-term nominal interest rates. In Greece, the fall in the interest rate over 1996-2007 explains up to 13% of the expansion of the non-tradable sector, and together with the Balassa-Samuelson (BS) effect, these effects account up to 80% of its variations.
Régulation et Environnement
Du 30/01/2017 de 12:00 à 14:00
Salle 8, RDC Bâtiment G, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
PITTEL Karen (IFO, Münich)
Thinking Local but Acting Global? The Interplay Between Local and Global Internalization of Externalities
The paper analyzes the long-run development of local and global pollution when two types of abatement
activities can be undertaken. One type reduces solely local pollution (e.g., use of particulate
matter filters) while the other mitigates global pollution as well (e.g., application of fuel saving
technologies). In the framework of a 2-country endogenous growth model, the implications
of different degrees to which global externality is internalized are
analyzed. We focus especially on local and global pollution levels and the effects on growth in both countries.
Furthermore we derive implications for optimal policies in the different scenarios.