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Fabrice Collard, Frédéric Boissay, Jordi Galì et Cristina Manea
n° 21-1277, décembre 2021, révision avril 2023
Should a central bank deviate from price stability to promote financial stability? We study this question through the lens of a textbook New Keynesian model augmented with capital accumulation and search–for–yield behaviors that give rise to endogenous financial crises. Our main findings are...
Alexandre de Cornière et Greg Taylor
n° 21-1285, décembre 2021
Cyberattacks are a pervasive threat in the digital economy, with the potential to harm rms and their customers. Larger rms constitute more valuable targets to hack- ers, thereby creating negative network eects. These can be mitigated by investments in security, which play both a deterrent and a...
Philippe De Donder, Humberto Llavador, Stefan Penczynski, John E. Roemer et Roberto Vélez
n° 21-1278, décembre 2021, révision 2025
The vaccination game exhibits positive externalities. The standard game-theoretic approach assumes that parents make decisions according to the Nash protocol, which is ndividualistic and non-cooperative. However, in more solidaristic societies, parents may behave cooperatively, optimizing according...
Catia Batista (Nova School of Business and Economics)
TSE, Toulouse, 2021
Nadja Guenster (University of Muenster)
By letting more than 3,000 clients of financial institutions play an incentivized investment game, we provide field experimental evidence on the determinants of socially responsible investment decisions. Our results show a positive link between personal values, beliefs, and preferences for socially...
Jacquelyn Humphrey (University of Queensland)
We design an experiment to understand how social preferences affect investment decisions through stock allocations and probability assessments. The major preference channel is asymmetric in social outcomes – although negative and positive responsible investment (RI) externalities have the same...
Jenny Aker (Tufts University)
Digital financial services, and mobile money (m-money) in particular, have generated considerable enthusiasm and hope for a reduction in remittance fees for the rural poor. This is especially the case in Sub-Saharan Africa, where remittances account for 2.5 percent of the region’s gross domestic...
Mamadou Thiam, Jean-Claude Kouakou Brou et Benur Andrade Varela
vol. 36, n° 4, décembre 2021, p. 519–548
As a result of COVID-19, the export of medical goods has been subject to various global restrictions. Consequently, several countries have increased the supply of medical goods to alleviate the effects of this health crisis. This study entails a theoretical and empirical analysis of the effects of...
Doh-Shin Jeon
2021
Christophe Bontemps et Valérie Orozco
sous la direction de Abdelaati Daouia et Anne Ruiz-Gazen, 2021
