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Mounu Prem
n° 22-141, juin 2022
We study the relationship between political regimes, education, and redistribution, fo-cusing on the 1973 coup that brought Augusto Pinochet to power in Chile. We show that the Pinochet dictatorship’s aims of political control and fiscal conservatism led to a sharp reduction in openings for new...
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...
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...
Jean-Paul Azam
n° 22-1347, juin 2022
This paper shows how careful strategic thinking outperforms hasty ethical judgment to produce peace. It uses a provocation model to explain why the initial Muslim coalition against southern Christians broke up in Sudan and Chad thanks to much vilified pipelines. The need to cooperate was made...
Lisa A. Robinson, Michael Eber et James K. Hammitt
vol. 13, n° 2, juin 2022, p. 247–268
Many economic analyses, including those that address the COVID-19 pandemic, focus on the value of averting deaths and do not include the value of averting nonfatal illnesses. Yet incorporating the value of averting nonfatal cases may change conclusions about the desirability of the policy. While...
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...
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...
Silvia Rossetto, Nassima Selmane et Raffaele Staglianò
n° 22-1346, juin 2022
This study analyzes the relationship between mid-sized blockholders and firm risk. We show that ownership structure matters for firm risk, beyond the first largest blockholder. Firms with multiple blockholders take more risk than firms with just one blockholder, even when controlling for the stake of...
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...
n° 22-143, juin 2022
