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Alexandre de Cornière et Greg Taylor
n° 23-1404, janvier 2023, révision août 2024
Does enhanced access to data foster or hinder competition among firms? Using a competition-in-utility framework that encompasses many situations where firms use data, we model data as a revenue-shifter and identify two opposite effects: a mark-up effect according to which data induces firms to...
Farid Gasmi, Laura Recuero Virto et Denis Couvet
n° 23-1399, janvier 2023
Using a novel database on countries exposed to coastal risks (CR), this paper estimates an augmented neoclassical growth model that nests eight other new growth models. To account for uncertainty related to model multiplicity and choice of growth determinant proxies, we use a Bayesian model...
Pierre Dubois et Thierry Magnac
n° 23-1402, janvier 2023
We study intertemporal trade-offs that health authorities (HAs) face when considering the control of an epidemy using innovative curative medical treatments. We set up a dynamically controlled Susceptibles-Infected-Recovered (SIR) model for an epidemy in which patients can be asymptomatic, and we...
Marelys Crespo, Sébastien Gadat et Xavier Gendre
n° 23-1398, janvier 2023
In this paper, we investigate a continuous time version of the Stochastic Langevin Monte Carlo method, introduced in [39], that incorporates a stochastic sampling step inside the traditional overdamped Langevin diffusion. This method is popular in machine learning for sampling posterior...
Ulrich Hege, Sébastien Pouget et Yifei Zhang
n° 23-1400, janvier 2023, révision décembre 2024
We study the impact of climate patents on financial markets. Exploiting quasi-random variations in patent examiner leniency, we show that firms are rewarded with significant positive stock returns over a 12-month horizon when they receive fortuitous climate patent grants, compared with similarly...
Marie Brière, Karen Huynh, Olav Laudy et Sébastien Pouget
n° 23-1401, janvier 2023
Using textual data extracted by Causality Link platform from a large variety of news sources (news stories, call transcripts, broker re-search, etc.), we build aggregate news signals that take into account the tone, the tense and the prominence of various news statements about a given firm. We test...
Gabriel Ulyssea, Matteo Bobba et Lucie Gadenne
vol. 6, n° 1, janvier 2023
Most low- and middle-income countries are characterised by a large informal sector, which implies that a substantial fraction of economic activity in these countries is completely unregulated. This has important implications for the behaviour of firms, workers, families, and consumers, with these...
Augustin Tapsoba
vol. 160, n° 102975, janvier 2023
The fear of exposure to conflict events often triggers changes in the behavior of eco-nomic agents even before/without any manifestation of violence in a given area. It gen-erates a treatment status (exposure to the adverse e˙ects of conflict) that goes beyond violence incidence. This paper...
Bruno Conte, Lavinia Piemontese et Augustin Tapsoba
vol. 87, n° 102712, janvier 2023
This paper investigates the consequences of the 2004 locust plague in Mali. We argue that in agricultural economies with a single harvest per year, this type of shock can affect households through two channels: first, a speculative/anticipatory effect that kicks in during the growing season,...
Jens Prüfer (Tilburg University;University of East Anglia)
Toulouse, janvier 2023
