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Christian Gollier et Sébastien Pouget
vol. 89, juin 2022, p. 997–1023
Socially responsible investors constitute an important force in today’s global financial markets. This paper examines conditions under which socially responsible investors induce companies to behave responsibly. We develop an asset pricing model in which some shareholders are active owners, that is...
Estelle Medous, Camelia Goga, Anne Ruiz-Gazen, Jean-François Beaumont, Alain Dessertaine et Pauline Puech
n° 22-1344, juin 2022
n this paper, we investigate how a big non-probability database can be used to improve estimates from a small probability sample through data integration techniques. In the situation where the study variable is observed in both data sources, Kim and Tam (2021) proposed two design-consistent...
Marc Ivaldi, Emile Quinet et Celia Ruiz Mejia
n° 22-1385, juin 2022
The objective of this paper is to estimate the extent of agglomeration externalities taking into account the direct and indirect impacts of transport exposure on productivity. To do so, we take advantage of a rich data infrastructure that combines very fine georeferenced infra-municipality data on...
Henrik Paul Lopuhaä, Valérie Gares et Anne Ruiz-Gazen
n° 22-1343, juin 2022
We provide a unified approach to S-estimation in balanced linear models with structured covariance matrices. Of main interest are S-estimators for linear mixed effects models, but our approach also includes S-estimators in several other standard multivariate models, such as multiple regression,...
Franziska Funke, Linus Mattauch, Inge van den Bijgaart, Charles Godfray, Cameron Hepburn, David Klenert, Marco Springmann et Nicolas Treich
vol. 16, n° 2, juin 2022, p. 219–240
Livestock is known to contribute significantly to climate change and to negatively impact global nitrogen cycles and biodiversity. However, there has been little research on economically efficient policies for regulating meat production and consumption. In the absence of first-best policy...
Patrick Fève, Alban Moura et Olivier Pierrard
vol. 139, n° 104404, juin 2022
We argue that shocks to traditional and shadow banks were important drivers of the U.S. economy during the Great Recession and the Slow Recovery. This result follows from a DSGE model featuring a heterogeneous banking sector estimated from macroeconomic and financial observables. Our model...
Bence Bago, Marton Kovacs, John Protzko et Tamas Nagy
vol. 6, juin 2022, p. 880–895
The study of moral judgements often centres on moral dilemmas in which options consistent with deontological perspectives (that is, emphasizing rules, individual rights and duties) are in conflict with options consistent with utilitarian judgements (that is, following the greater good based on...
Thibault Laurent, Paula Margaretic et Christine Thomas-Agnan
vol. 17, n° 4, juin 2022, p. 557–584
We measure to what extent neighbouring countries affect the amount of remittances between a source and a recipient country, controlling for the commonly used macro determinants of remittances. We provide novel evidence on the importance of neighbouring countries, with the parameter estimates...
Christian Gollier
Fayard, juin 2022
Les générations futures vont subir un changement climatique dont l’intensité dépendra des sacrifices auxquels nous consentirons pour affronter nos responsabilités. Il est encore temps d’agir. Néanmoins, devant la myriade d’actions possibles, quelles sont celles qu’il faudrait rationnellement mettre...
Sabine Noebel, Xiaobo Wang, Laurine Talvard, Juliette Tariel, Maëva Lille, Julien Cucherousset, Myriam Roussigné et Etienne Danchin
vol. 289, juin 2022
High levels of within-population behavioural variation can have drastic demographic consequences, thus changing the evolutionary fate of populations. A major source of within-population heterogeneity is personality. Nonetheless, it is still relatively rarely accounted for in social learning studies...
