Calendrier du mois de décembre 2022
Du 19/12/2022 de 17:00 à 18:15
Salle R1-09, Campus Jourdan, 75014 Paris
ROESLER Anne-Kathrin (University of Toronto)
*
EU Tax Observatory Seminar
Du 16/12/2022 de 13:00 à 14:00
Salle R1.13, Campus Jourdan
PARENTI Mathieu (PSE & INRAE)
Multinational Enterprises and International Tax Shifting: Evidence from Shutting Down the Mauritius Route to India
écrit avec joint with Josh De Lyon (Oxford & OECD) and Swati Dhingra (London School of Economics, CEP, & CEPR)
Multinational enterprises exploit gaps in international taxation rules to artificially shift their tax liability to low-tax countries. Huge empirical challenges arise in understanding international tax loopholes due to limited coverage of tax haven countries in available data sources and even more limited experience of plugging tax loopholes internationally. This paper contributes to both these areas by examining foreign investments and international tax loopholes through new administrative transaction data from India. Gravity models of Foreign Direct Investment (FDI) inflows to India show a stark outlier - Mauritius - with which India has a bilateral tax treaty that contained a loophole allowing both Indian and foreign firms to avoid capital gains tax on profits of company sales. In 2016, India and Mauritius agreed to reform treaty, removing the loophole. and changing effective tax rates to investments in India through Mauritius. Following the reform, we show that the volume of FDI flowing to India through Mauritius falls, compared to FDI from other routing countries. Firm-level micro data confirms the finding that foreign investors reduced their investments through Mauritius, with some diversion to investments from other tax haven channels. Indian firms who had received FDI through Mauritius before the policy change did not experience a relative fall in total FDI inflows. Plugging international tax loopholes therefore reduced tax avoidance possibilities without sacrificing much the potential to attract foreign investment.
PSE Internal Seminar
Du 16/12/2022 de 12:30 à 13:30
R2-01
VANDEN EYNDE Oliver (PSE)
DURANTE Ruben(BSE)
Media Capture by Banks
with Andrea Fabiani, Luc Laeven, José-Luis Peydró
Do banks exploit lending relationships with media companies to promote favorable news coverage? To test this hypothesis we map the connections between banks and the top newspapers in several European countries and study how they affect news coverage of two important financial issues. First we look at bank earnings announcements and find that newspapers are significantly more likely to cover announcements by their lenders, relative to other banks, when they report profits than when they report losses. Such pro-lender bias applies to both general-interest and financial newspapers, and is stronger for newspapers and banks that are more financially vulnerable. Second, we look at a broader public interest issue: the Eurozone Sovereign Debt Crisis. We find that newspapers connected to banks more exposed to stressed sovereign bonds are more likely to promote a narrative of the crisis favorable to banks and to oppose debt-restructuring measures detrimental to creditors.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 15/12/2022 de 12:30 à 13:30
Salle R1-14, Campus Jourdan, 75014 Paris
FRIEDMAN Evan (PSE)
*QRE with a continuum of types.
Quantal response equilibrium (QRE), a statistical generalization of Nash equilibrium, is a standard benchmark in the anlaysis of experimental data. A QRE is a solution to a non-polynomial system of equations, and so does not have a closed-form expression. For this reason, applications rely on numerical methods, and theoretical results are limited. An insight of recent work on finite games is that, whereas it is difficult to solve for any given QRE, it is often easy to characterize the set of all QRE that satisfy a regularity condition. This non-parametric QRE analysis implies novel bounds on the common parametric models and opens up the possibility for novel theoretical applications. This analysis, however, simply does not apply to infinite games. In this paper, we identify a class of infinite games–those with binary actions and a continuum of types–for which non-parametric QRE analysis is feasible. We derive characterization results and apply them to several classic games.
Travail et économie publique externe
Du 15/12/2022 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R1-13
MONRAS Joan (Barcelona School of Economics)
Floating population: consumption and location choices of rural migrants in China
écrit avec Imbert, Seror and Zylberberg
This paper provides new theory and evidence on how the consumption patterns of the ``floating population'' of rural migrants affect the distribution of activity across Chinese cities. We first show that: (i) rural migrants sort into cities where wages are high, and rents are also high; (ii) in these cities, they live in poorer housing conditions and without their family; and (iii) they also remit more, especially migrants living without their family. We then develop a quantitative spatial model in which migrants choose whether, how (with or without their family) and where to migrate, and in which they partly consume in their origin location. We estimate the model and compute counterfactual migration flows when local registration restrictions are tightened to make it harder for migrants to settle at destination: there is less migration overall but more in the large, high-wage/high-rents cities.
Behavior seminar
Du 15/12/2022 de 11:00 à 12:00
R1-13
PRATI Alberto (University College London)
*Why do beliefs diverge? Evidence from a natural experiment on COVID-19 vaccines
During the COVID-19 pandemic, UK residents could choose to opt into the vaccination program, but not which vaccine they received. Using this natural experiment, we investigate individuals' beliefs about COVID-19 vaccines before and after vaccination. Although the majority of people were expecting a type of vaccine (Pfizer), about 20% of them were assigned to another one (Moderna). We study how people who received Moderna (treatment group) updated their beliefs differently from those who received Pfizer (control group). We document three results. First, individuals overly optimistically updated their beliefs about the safety and effectiveness of the vaccine they received, so that the average beliefs of the control and treatment groups diverge. Second, we show that this divergence is driven by those who were particularly skeptical about a vaccine but then were assigned to it, and those who were particularly keen on a vaccine but then did not receive it. Third, we find that people adapt not only their beliefs, but also their preferences: the desirability of a vaccine adjusted according to which vaccine people received. These findings shed light on the predictable nature of individuals' beliefs in the field, and are in line with a dynamic of wishful beliefs updating. They suggest that wishful thinking can cause beliefs divergence, even when similar individuals are exposed to similar information environments, hold similar priors, and have no room for ex-post rationalization of previous decisions.
Macroeconomics Seminar
Du 15/12/2022
Economic History Seminar
Du 14/12/2022 de 12:00 à 13:30
Salle R2.01, Campus Jourdan
KOEHLER-DERRICK Gabriel ()
Land Redistribution, Inequality, and Crisis: Evidence from Colonial Ireland
We study the long-run consequences of land redistribution for political inequality and economic development. Between 1652-9, approximately a third of Ireland’s land was redistributed from Irish Catholic elites to English Protestants under the Cromwellian Settlement. While seminal accounts argue that Ireland’s subsequent economic problems, culminating in the Great Famine of 1845-9, can ultimately be traced back to this event, the connection has never been empirically tested. We combine an unusually rich set of granular data sources with several quasi-experimental research designs to show that local-level variation in land redistribution predicts the severity of the famine two centuries later. To make sense of this persistence, we (1) demonstrate that patterns of land ownership remained fixed following the Settlement; (2) show that political representation shifted away from localities where Catholics represented a greater share of the population; (3) establish that increased political and economic inequality reduced the provision of welfare to the Catholic poor, which ultimately worsened the impact of the Famine.
Texte intégral
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 13/12/2022 de 17:00 à 18:00
R1-13
ABOYA Nakita ()
E-filling, corruption and taxation in developing countries : case study of Cameroon
Paris Trade Seminar
Du 13/12/2022 de 14:45 à 16:15
SANTAMARIA Marta (U. Warwick)
CANCELLED - Understanding Home Bias in Procurement: Evidence from National and Subnational Governments
écrit avec Manuel García-Santana (World Bank)
Are governments locally biased when buying goods and services from private firms? And if so, to what extent can this home bias explain the lack of integration in procurement markets across regions and countries? Using more than one million public procurement contracts awarded by 30,000 government agencies in French and Spanish regions, we explore the hypothesis that a government’s home bias depends on the geographical level at which the government operates. To test our hypothesis, we classify agencies into national agencies (i.e., the central or federal administration) and subnational agencies (i.e., an individual region or territory within the country). We then identify the relative home bias across governments with a novel identification strategy that relies on observing the same establishment selling the same product to national and subnational governments located in the same destination, controlling for firm and origin-destination characteristics. Our results show that the government’s home bias, especially that of subnational agencies, explains a big part of the high levels of local concentration in government procurement across regions and countries. Our findings point towards significant inefficiencies in the allocation of government procurement expenditure across firms, regions, and countries within the European Union.
Applied Economics Lunch Seminar
Du 13/12/2022 de 12:30 à 13:30
Salle R2.21, Campus Jourdan
HARHOFF ANDERSEN Lars (University of Copenhagen)
Collective memory: Evidence from first names
écrit avec joint with Tom Raster (PSE)
How do historical events change individuals' values, and when do they enter collective memory? A fundamental problem is measuring values when surveys are lacking. To tackle this problem, a promising recent literature uses first names as proxies for values, however, we argue and demonstrate that the scope and systematization of this approach can be broadened. To this end, we develop new methods to derive a broad set of values from first names. Our methods leverage parents’ tendency to name their children for groups in society that they sympathize with because those groups represent their values. Drawing on all available US full-count censuses, we use professions (e.g., military personnel, entrepreneurs, or scientists) as indicators for different values (e.g., militarism, entrepreneurialism, or scientific values). For each first name in the censuses, we measure how associated it is with a given profession and, thus, which values it represents. We then merge the value measure of first names with the names parents give their children. This provides us with proxies of values for millions of US parents from 1790 to 1940. Furthermore, the rich information in the censuses allows us to differentiate the effect of values we measure from those of occupation, geography, and demography. We then turn to applying our first-name based value measure. First, we show that the effect of early Irish and Scottish migration on today’s crime rates, as described in Grosjean (2014), disappears once we control for differences in military values. In a second application, we demonstrate that the experience and collective memory of fighting in the American Civil War affects military values in the following decades.
Roy Seminar (ADRES)
Du 12/12/2022 de 17:00 à 18:15
Salle R1-09, Campus Jourdan, 75014 Paris
FENG Tangren (Bocconi)
*Interim Strategy-Proof Mechanisms: Designing Simple Mechanisms in Complex Environments.
We study interim strategy-proof (ISP) Mechanisms with interdependent values: It requires that truth-telling is an interim dominant strategy for each agent, i.e., conditional on an agent’s own private information, the truth-telling maximizes her interim expected payoff for all possible strategies the other agents could use. We provide full characterizations of ISP mechanisms in two classical settings: single unit auctions and binary collective decision-makings. Our results highlight the tension between informational externalies and strategic externalites when designing ISP mechanisms.
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 12/12/2022 de 13:00 à 14:00
Maison des Sciences Economiques, Salle 116
ZUNIGA-CORDERO Alvaro ()
TBA
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 09/12/2022 de 13:00 à 14:00
Maison des Sciences Economiques, Salle 116
DENAGISCARDE Olivier (CES/BNP Paribas Real Estate)
TBA
Casual Friday Development Seminar - Brown Bag Seminar
Du 09/12/2022 de 12:30 à 13:30
PAREDES-CASTRO Héctor (PSE)
Land without masters: local political competition since the Peruvian Land Reform (1968-1980)
Macroeconomics Seminar
Du 08/12/2022 de 16:00 à 17:15
PSE- 48 boulevard Jourdan, 75014 Paris, salle R2-21
TAMON Asonuma (IMF)
Expenditure Consolidation and Sovereign Debt Restructurings: Front- or Back-loaded
Sovereigns implement expenditure consolidation prior to debt crisis—“front-loaded”. We compile data on strategies of expenditure consolidation and restructurings in 1975–2020. We find that (i) expenditure consolidation precedes—front-loaded—preemptive restructuring, while occurs upon post-default restructurings—back-loaded—; and (ii) public investment and restructuring duration differ between preemptive and post-default restructurings. We construct a theoretical sovereign debt model that embeds endogenous choice of preemptive and post-default renegotiations, public capital accumulation, and expenditure composition. The model quantitatively shows the sovereign’s choice of front-loaded expenditure consolidation and preemptive restructuring results in quick debt settlement and public investment recovery. Data support theoretical predictions.
Roy Seminar (ADRES)
Du 08/12/2022 de 12:30 à 13:30
Salle R1-14, Campus Jourdan, 75014 Paris
ROESLER Anne-Kathrin (University of Toronto)
*How informed do you want your principal to be? joint with Rahul Deb and Mallesh Pai
presentation joint with Seminar TOM
A buyer's value for a good depends on his private type and the quality that is unknown to him. The seller of the good learns about the quality via a signal; the signal realization is the seller's private information. We pose and answer the following question: how much (if any) private information would the buyer want the seller to have? Formally, we characterize the buyer-optimal outcome: this is the signal and the corresponding seller-optimal equilibrium of the informed principal game that yield the highest consumer surplus. We show that there are conditions under which private information for the seller can lead both to greater profits and higher consumer surplus; that is, compared to being uninformed, seller private information can lead to Pareto gains. The seller's signal in the buyer optimal outcome is typically not fully informative.
Travail et économie publique externe
Du 08/12/2022 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R2-01
BAGUES Manuel (U. Warwick)
The Psychological Gains from COVID-19 Vaccination: Who Benefits the Most?
écrit avec Velichka Dimitrova
We estimate the impact of COVID-19 vaccination on psychological well-being using information from a large-scale panel survey representative of the UK population. Exploiting exogenous variation in the timing of vaccinations, we find that vaccination increases psychological well-being (GHQ-12) by 0.12 standard deviations, compensating for one-half of the deterioration in mental health caused by the pandemic. This improvement persists for at least two months, and is linked to higher engagement in social activities and a decrease in the self-reported likelihood of contracting COVID-19. The main beneficiaries are individuals who became mentally distressed during the pandemic, supporting their prioritization in vaccination rollouts.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 08/12/2022 de 12:30 à 13:30
Salle R1-14, Campus Jourdan, 75014 Paris
ROESLER Anne-Kathrin (University of Toronto)
*How informed do you want your principal to be? joint with Rahul Deb and Mallesh Pai
presentation joint with Roy Seminar
A buyer's value for a good depends on his private type and the quality that is unknown to him. The seller of the good learns about the quality via a signal; the signal realization is the seller's private information. We pose and answer the following question: how much (if any) private information would the buyer want the seller to have? Formally, we characterize the buyer-optimal outcome: this is the signal and the corresponding seller-optimal equilibrium of the informed principal game that yield the highest consumer surplus. We show that there are conditions under which private information for the seller can lead both to greater profits and higher consumer surplus; that is, compared to being uninformed, seller private information can lead to Pareto gains. The seller's signal in the buyer optimal outcome is typically not fully informative.
Development Economics Seminar
Du 07/12/2022 de 16:30 à 18:00
Salle R2.01, Campus Jourdan
VICENTE Pedro (University Nova de Lisboa)
Motivating Volunteer Health Workers in an African Capital City
écrit avec Mattia Fracchia, Teresa Molina-Milla´n,
Community Health Workers (CHWs) are central to health systems. Still, they are typically unpaid volunteers in Sub-Saharan Africa. This paper follows all the CHWs in the capital city of Guinea-Bissau and tests the impact of different types of non-financial incentives on health indicators. We analyze two randomized interventions for CHWs: (i) an honorific award aimed at raising their social status; (ii) a video treatment aimed at increasing their perceived task significance. While employing administrative and survey data, we find that the social status intervention, differently from the task significance one, causes clear improvements in household health, particularly for young children.
Economic History Seminar
Du 07/12/2022 de 12:00 à 13:30
Salle R2.01 Campus Jourdan
VONYO Tamas ()
War and Socialism: Economic Backwardness in Eastern Europe
The monograph project builds on the author’s extensive research on economic growth in Central and Eastern Europe under state socialism. Relative backwardness had long been understood as a potential source of growth from Marx, through mid-twentieth century structural economics, to neoclassical growth theory. To economic historians, the canonical references are Gerschenkron on late industrialization and Abramovitz on conditional convergence. In these theoretical frameworks, the postwar economic performance of Eastern Europe was interpreted as a growth failure. Socialism was successful in mobilizing resources for growth but used them inefficiently. Early growth accounts confirmed this view, which echoed institutionalist interpretations favored by comparative economists in Eastern Europe. New growth models, by contrast, highlight the role of endogenous innovation and skill-biased technical change. Human capital is broadly seen as the main source of long run growth. Our standard view on comparative development in Europe since WWII requires revision, both considering recently revised Eastern European growth accounts and new tenets in growth theory. The core argument of the book is that the disproportionately large negative impact of the world wars, with long exposure to warfare, unprecedented population shocks and political disintegration, permanently dislocated the economies of Eastern Europe. Colossal loss of human capital thwarted innovation, reduced returns on new investment, and delayed both postwar reconstruction and structural modernization. The main negative effect of the Cold War was neither trade diversion nor the burden defense spending but instead administrative barriers of access to western technology. Socialist economic progress was stalled in the 1980s not by systemic failure but by the oil shocks and sovereign debt crises in their aftermath. Growth came to a standstill not because of a productivity failure but because of the failure to sustain capital high levels of investment. Post-socialist development could not achieve convergence either despite liberal reforms or reintegration into western markets. Disintegration (often in violent form) and depopulation returned to Eastern Europe after 1990, limiting growth in much the same fashion as they had done half a century earlier.
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 06/12/2022 de 17:00 à 18:00
R1.13
KOCH Xavier (PSE)
The EU ETS impact on firms green investment
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 06/12/2022 de 13:00 à 14:00
Maison des Sciences Economiques, Salle 116
BOCQUET Leonard (PSE)
The Network Origin of Slow Labor Reallocation
There is a growing concern that workers reallocate quite slowly after certain structural shocks, e.g. trade liberalization episodes or automation. This contrasts with the predictions of the textbook random search model model, which suggest relatively fast recovery (in the month scale) after shocks. In this paper, I take a network perspective of the economy’s occupational structure and demonstrate how the network structure leads to a slowing-down of the worker reallocation dynamics. In the proposed framework, occupations are connected if transitions between them are feasible, and not connected otherwise. I make two contributions. First, I find that the occupational network is very sparse, hinting at large frictions to occupational mobility, and that there exists central bottleneck occupations which can block the reallocation process. Second, I extend the textbook random search and matching model with an occupational network, and I study worker reallocation dynamics after permanent asymmetric productivity shocks. I have three main findings: 1) worker reallocation dynamics is significantly more sluggish than in the textbook model, 2) the average transition rate - a traditional measure of reallocation intensity - is not informative about the speed of worker reallocation, and 3) the job finding rate in central occupations is a key determinant of reallocation speed. This has important implications for public policy, in particular regarding the targeting of employment subsidies or training schemes.
Applied Economics Lunch Seminar
Du 06/12/2022 de 12:30 à 13:30
Salle R1.09, Campus Jourdan
PLANTEROSE Bluebery (PSE)
Who Owns Offshore Real Estate? Evidence from Dubai
écrit avec Annette Alstadsæter (NMBU), Andreas Økland (NMBU) and Gabriel Zucman (UC Berkeley)
This paper analyzes a unique micro-dataset capturing the ownership of about 800,000 properties in Dubai. We use this dataset to document patterns in cross-border real estate investments, a blind spot in the analysis of financial globalization. We obtain four main findings. First, offshore real estate in Dubai is large: at least $146 billion in foreign wealth is invested in the Dubai property market. Second, geographical proximity and historic ties are key determinants of foreign investments in Dubai. About 20% of offshore Dubai real estate is owned by investors from India and 10% by investors from the United Kingdom; other large investing countries include Pakistan, Gulf countries, Iran, Canada, Russia, and the United States. These patterns hold when focusing on the most affluent neighborhoods, with the main difference that Indian investments become relatively smaller and Russian investments larger. Third, a number of conflict-ridden countries and autocracies have large holdings in Dubai relative to the size of their economy, equivalent to 5%–10% of their GDP. This suggests that the official net foreign asset position of a number of low- income economies is significantly under-estimated. Last, by matching properties owned by Norwegians to administrative tax records in Norway, we find that the probability to own offshore real estate rises with wealth, including within the very top of the wealth distribution. About 70% of Dubai properties owned by Norwegian taxpayers were not reported for tax purposes in 2019. These results suggest that the lack of cross-border exchange of information on real estate ownership is a significant issue for tax enforcement.
Roy Seminar (ADRES)
Du 05/12/2022 de 17:00 à 18:15
Campus Jourdan R1-09
DUARTE Goncalves (University College London)
*
Econometrics Seminar
Du 05/12/2022 de 16:00 à 17:15
on Zoom
KETZ Philipp (PSE - CNRS)
Allowing for weak identification when testing GARCH-X type models
In this paper, we use the results in Andrews and Cheng (2012), extended to allow for parameters to be near or at the boundary of the parameter space, to derive the asymptotic distributions of the two test statistics that are used in the two-step (testing) procedure proposed by Pedersen and Rahbek (2019). The latter aims at testing the null hypothesis that a GARCH-X type model, with exogenous covariates (X), reduces to a standard GARCH type model, while allowing the "GARCH parameter" to be unidentified. We then provide a characterization result for the asymptotic size of any test for testing this null hypothesis before numerically establishing a lower bound on the asymptotic size of the two-step procedure at the 5% nominal level. This lower bound exceeds the nominal level, revealing that the two-step procedure does not control asymptotic size. In a simulation study, we show that this finding is relevant for finite samples, in that the two-step procedure can suffer from overrejection in finite samples. We also propose a new test that, by construction, controls asymptotic size and is found to be more powerful than the two-step procedure when the "ARCH parameter" is "very small" (in which case the two-step procedure underrejects).
Paris Migration Economics Seminar
Du 05/12/2022 de 12:30 à 13:30
Salle R2.01, Campus Jourdan
DE LA CROIX David (UC Louvain)
Winners and Losers from the Protestant Reformation: An Analysis of the Network of European Universities
écrit avec P. Morault
Régulation et Environnement
Du 05/12/2022 de 12:00 à 13:15
Salle R1-09, Campus Jourdan, 75014 Paris
LEPAULT Claire (PSE)
*Is urban wastewater treatment effective in India?
While water pollution control is key to sustainable development, the effectiveness of water regulations in India is controversial. In this paper, I study the effect of recent Indian urban sewerage infrastructure on ambient water quality and downstream infant mortality. I use the 2020-21 national inventory of sewage treatment plants which I match to in situ measures of water quality spanning 1991-2020 using a geo-referenced network of Indian rivers and to child births in downstream villages using watershed boundaries. Using a difference-in-differences framework, I compare water pollution and health related to agglomerations that started wastewater treatment from 2010 onward versus agglomeration where wastewater treatment is in project in 2020. I use estimators robust to heterogeneous effects in the case of a staggered difference-in-differences design where treatment effects vary over time. I find that wastewater treatment decreases significantly both water pollution -- measured by levels of fecal coliforms -- and infant mortality.
EU Tax Observatory Seminar
Du 02/12/2022 de 13:00 à 14:00
Salle R1.14, Campus Jourdan
DELATTE Anne Laure (CNRS, University Paris Dauphine)
CANCELLED: Banks Defy Gravity in Tax Havens
écrit avec Vincent Bouvatier and Gunther Capelle-Blancard
Using country-by-country reports from the Systemically Important Banks in the European Union, we measure “abnormal” banking activity in tax havens (TH). Our assessment is based on a gravity model used to predict the expected international turnover of EU banks worldwide. We find that: 1) banks turnover in TH represents on average twice the gravity predictions; 2) there is a large heterogeneity across TH with Hong Kong, Luxembourg and Singapore concentrating the bulk of the abnormal turnover; 3) the abnormal turnover of EU banks represents 1.46% of GDP in TH and varies between 16% of GDP and zero; 4) we observe a decline and a concentration of abnormal turnover since the reporting requirement has been introduced in the EU.
Casual Friday Development Seminar - Brown Bag Seminar
Du 02/12/2022 de 12:30 à 13:30
KNEBELMANN Justine (Sciences Po)
Widening the Tax Net when Information is Scarce: the Role of Agents’ Discretion
écrit avec Victor Pouliquen (Oxford) and Bassirou Sarr (Ministry of Finance, Senegal)
PEPES (Paris Empirical Political Economics) Working Group
Du 01/12/2022 de 12:30 à 14:00
Sciences Po, Room H405
ORNAGHI Arianna (Hertie School)
Media Consolidation
écrit avec with Gregory Martin, Josh McCrain, and Nicola Mastrorocco
Recent decades have seen major disruptions to the local media environment in the United States. The changing economics in local news media has resulted in the purchase of many previously independent local television outlets by conglomerates as well as the consolidation of existing ownership groups. In this paper, we examine the content, viewership, and political consequences of media consolidation, exploiting the staggered timing of acquisitions of local TV stations on part of conglomerate owners. When stations are acquired by a conglomerate, coverage of locally elected officials decreases. This has negative effects on viewership. Preliminary results suggest negative effects on turnout and increased incumbency advantage in state elections, and no effects on turnout but increasing Republican vote share in congressional elections. These results hold important implications for the ability of voters to hold elected officials accountable and how this relates to the regulation of media ownership.
Travail et économie publique externe
Du 01/12/2022 de 12:30 à 13:30
PSE- 48 boulevard Jourdan, 74014 Paris, salle R2-01
MULLER Paul (VU)
Tax incentives for high skilled migrants: evidence from a preferential tax scheme in the Netherlands
This paper examines how income tax exemptions affect international mobility and wages of skilled migrants. We study a Dutch preferential tax scheme for migrants, which introduced an income threshold for eligibility in 2012 and covers a large share of the migrant income distribution. Using administrative data, we find that migration in the income range closely above the threshold more than doubles, while there is little support for a decrease below the threshold. These effects appear to be driven mainly by additional migration, while wage bargaining responses are limited. We conclude that the tax scheme was effective in attracting more migrants.
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 01/12/2022 de 12:30 à 13:30
Salle R1-14, Campus Jourdan, 75014 Paris
TALLON Jean-Marc (PSE)
*Efficient Allocations under Ambiguous Model Uncertainty - Chiaki Hara (Kyoto University), Sujoy Mukerji (Queen Mary University of London), Frank Riedel (University of Bielefeld), Jean Marc Tallon (Paris School of Economics)
We study efficient allocations in an economy of consumers who have heterogeneous smooth ambiguity preferences but a common identifiable set of relevant probability measures in the sense of Denti and Pommato (2022).
When the efficient allocations would be represented by linear risk sharing rules in the absence of ambiguity, we identify the systematic nonlinearity caused by its presence, and explore asset pricing implications thereof,
by constructing a representative consumer.
We show, among other things, that the Hansen-Jagnnathan bound is higher than in the ambiguity-neutral case and moves countercyclically, a behavior that has not been explained by any representative-consumer model.
Behavior seminar
Du 01/12/2022 de 11:00 à 12:00
R2-01
NAX Heinrich (ETH Zurich)
*Tennis
We discuss the behavioral game theory of tennis, with particular focus on a literature testing minimax predictions. We look at some novel data for insights.