Calendrier du 31 mars 2023
Du 31/03/2023 de 12:30 à 13:30
R2-01
LAMBERT Sylvie (INRAE)
“Impact of small farmers’
Since the 1960s, the increased availability of modern seed varieties in developing countries has had large positive effects on households’ well-being. However, the effect of related land use changes on deforestation and biodiversity is ambiguous. This study examines this question through a randomized control trial in a remote area in the Congo Basin rainforest with weak input and output markets. Using plot-level data on land conversion combined with remote sensing data, we find that promotion of modern seed varieties did not lead to an increase in overall deforestation by small farmers. However, farmers cleared more primary forest and less secondary forest. We attribute this to the increased demand for nitrogen required by the use of some modern seed varieties, and to the lack of alternative sources of soil nutrients, which induced farmers to shift towards cultivation of land cleared in primary forest. Unless combined with interventions to maintain soil fertility, policies to promote modern seed varieties may come at the cost of important losses in biodiversity.
Sylvie LAMBERT
PSE Internal Seminar
Du 31/03/2023 de 12:30 à 13:30
Salle R2-01, Campus Jourdan
BOZIO Antoine (PSE/EHESS)
Follow the money! Why dividends overreact to flat-tax reforms”, joint with Laurent Bach, Brice Fabre, Arthur Guillouzouic, Claire Leroy and Clement Malgouyres
We estimate behavioral responses to dividend taxation using recent French reforms: a rate hike and, five years later, a cut. Exploiting tax data at household and firm-level, we find very large dividend tax elasticities to both reforms. Individuals who control firms adjust dividend receipts instantaneously, accounting for most of the aggregate dividend reaction. Investment is insensitive to dividend taxation. Dividend adjustments are instead driven by corporate saving, as owner-managers treat firms as tax-free saving vehicles. Small businesses’ profits decline following dividend tax increases, suggesting firms also serve as tax-free consumption vehicles.
Texte intégral
Brown Bag Economics of Innovation Seminar
Du 31/03/2023 de 10:00 à 11:00
https://insead.zoom.us/j/91768711761?pwd=N214Q3MrRHZBRkdua21OajBaWStUQT09
EECKHOUT Jan (UPF Barcelona)
Killer Innovation: The Macroeconomic Implications of Strategic Investment that affects Market Structure, with Renjie Bao (Princeton)
écrit avec Jan Eeckhout (UPF Barcelona)
We propose a theory of innovation where incumbent firms strategically invest excessively in innovation to deter entry and reduce competition. In our quantitative exercise we find that the phenomenon of killer innovation becomes pervasive during the 2000s and remains at a high level until now. We also identify a large efficiency loss from the resulting market power due to killer innovation, in excess of 15% of aggregate output in 2019. Large firms over-invest and small firms under-invest or do not enter the market. Finally, we investigate a set of counterfactual policies and find that a 10% profit tax on incumbents can enhance social welfare by 5.3% in 2019, while a 10% entry subsidy leads to inefficient innovation entrants that harms the economy.