Mercredi | 2018-01-18 Salle B103 – 12h00 Kady Synthia KEITA – Camélia TURCU We explore how fiscal rules, pegged exchange rate regimes and institutional quality affect the cyclical behaviour of fiscal policy (i.e how government spending responds to GDP fluctuations). We perform our analysis on a panel of 153 advanced, emerging and developing countries over the period 1993-2015 using LGWOLS and 2SLS estimators. We find that fiscal rules alone are not enough to promote counter-cyclical fiscal policy and should be […]

Mardi | 2018-01-16 Salle des thèses 16h – 17h20 This paper analyses the effects of flow pollution implied by the use of non-renewable resources on an overlapping economy. Notably, it shows that, on the balanced growth path, flow pollution reduces the resource use and thus increases the ability of an economy to sustain a non-decreasing consumption path. In addition, the paper analyses decentralization strategies that are able to put the decentralized economy on an optimal balanced growth path. If the […]

Mardi | 2018-01-09 Salle des thèses 16h – 17h20 Anthony TERRIAU This paper examines the inefficiency issues of occupation-specific human capital investments in a model with search frictions and occupational mobility over the lifecycle. Firstly, we highlight how the existence of social externalities related to training, not taken into account by employers, cause an under-investment in occupation-specific vocational training compared with what it would be optimal to do. Secondly, we show that this lack of training leads to some occupational […]

Mardi | 2017-12-19 Salle des thèses 16h – 17h20 Pierrick CLERC Existing business-cycle models for which firms unilaterally adjust labor along both the intensive and extensive margins have difficulties in reproducing the dynamics of employment and hours per worker. Within a New-Keynesian framework with search frictions in the labor market, we show that a much higher pro-cyclicality for marginal labor cost than for average labor cost, in accordance with empirical observations, is a crucial mechanism for replicating labor-market fluctuations. At […]

Mardi | 2017-12-12 Salle des thèses 16h – 17h20 Daria ONORI – Antoine LE RICHE We consider an infinite horizon monetary economy and study the effects of collaterals on credit market on the steady-state features, on the welfare properties and on the business cycle. Capital plays the role of collateral: the share of consumption that must be paid in cash depends negatively on the stock of capital held by the households. The monetary policy is conducted by the Central Bank […]

Mardi | 2017-12-05 Sully 5 Charlotte EMLINGER – Sabine DUVALEIX-TREGUER – Carl GAIGNé – Karine LATOUCHE The paper questions the impact of geographical indication label on firm export competitiveness in the cheese and cream industry. We use firm level data from the French custom and an original dataset of firms and products concerned by protected designations of origin (PDO). Our econometric estimations show that PDO labelling impacts both the extensive margin and the intensive margin of trade (the value of […]

Mardi | 2017-11-28 Salle des thèses 16h – 17h20 Panayiotis ANDREOU – Franco FIORDELISI – Terry HARRIS – Dennis PHILIP This paper develops a measure of competition orientation based on textual analysis of managements’ disclosures in their 10-K filings. Using this measure, we provide evidence regarding institutional investors’ preferences and behind‐the‐scenes interventions. In particular, we show that transient institutional ownership intensifies firms’ competition orientation, while dedicated institutional ownership lessens it. Further, we demonstrate that as firms intensify competition orientation, they […]

Mardi | 2017-11-21 Salle des thèses 16h – 17h20 Ahmed TRITAH – Catherine LAFFINEUR – Eva MORENO-GALBIS – Jeremy TANGUY Over the last two decades, despite similar employment dynamics, immigrants and natives in France have experienced sharp differences in wage changes along the occupational wage distribution. Immigrants’ wage growth has outperformed that of natives along the whole occupational wage distribution. We explain this pattern within a Roy-type wage setting and relate changes in the occupational wage distribution to changes in […]

Mardi | 2017-11-14 Salle des thèses 16h – 17h20 Florence PUECH – Sandra NEVOUX – Eric MARCON This paper aims at assessing the local diffusion of short-time work. We argue that the geographical proximity of establishments having already used short-time work in the past is a major information channel regarding this scheme. Relying on distance-based methods, our stylized facts highlight the spatial and dynamic concentration of short-time work use in France between 2002 and 2014. Our econometric analysis reveals that […]

Mercredi | 2017-11-09 Salle B103 – 12h00 Cherry MOUNIR SAAD KHALIL This paper aims to investigate the effect that infrastructure quality and accessibility have on the extensive and intensive export margins of manufacturing firms in Egypt. Using firm-level data from the World Bank’s enterprise survey for the years 2007 and 2013, we attempt to link Egyptian firms’ heterogeneity in productivity and characteristics related to the access toinfrastructure such as transport, telecommunication, power generation and water and sanitation, with their trade […]