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François Causeret, Stéphane Cezera et J.M Rousselle
2020
Ce document s’adresse à toutes les personnes qui souhaitent comprendre ce qu’est l’Économie Expérimentale et les bénéfices que l'on peut retirer de cette approche pour des travaux empiriques dont la validité et la portée peuvent être évaluées au plan scientifique. De manière pratique sont décrites...
George-Marios Angeletos, Fabrice Collard et Harris Dellas
n° 11-1170, décembre 2020
We study optimal policy in an economy in which public debt is used as collateral or liquidity buffer. Issuing more public debt raises welfare by easing the underlying financial friction; but this easing lowers the liquidity premium and increases the government’s cost of borrowing. These...
Yu Cao, Elliott Ash et Daniel L. Chen
vol. 50, décembre 2020, p. 451–467
This paper studies the problem of automated classification of fact statements and value statements in written judicial decisions. We compare a range of methods and demonstrate that the linguistic features of sentences and paragraphs can be used to successfully classify them along this dimension....
Eliana Barrenho, Eric Gautier, Marisa Miraldo, Carol Propper et Christiern Rose
n° 15515, décembre 2020
We examine the effect of a physician network on medical innovation using novel matched patient-physician-hospital panel data. The data include every relevant physician and all patients in the English NHS for 15 years and physicians’ workplace histories for more than 20. The dynamic network arising...
Jérôme Bolte et Edouard Pauwels
sous la direction de Hugo Larochelle, M. Ranzato, R. Hadsell, M.F. Balcan et H. Lin, vol. 33, 2020
Automatic differentiation, as implemented today, does not have a simple mathematical model adapted to the needs of modern machine learning. In this work we articulate the relationships between differentiation of programs as implemented in practice, and differentiation of nonsmooth functions. To...
Aditya Goenka et Manh-Hung Nguyen
décembre 2020, p. 90–98
We prove the existence of competitive equilibrium in the canonical optimal growth model with elastic labor supply under general conditions. In this model, strong conditions to rule out corner solutions are often not well justied. We show using a separation argument that there exist Lagrange...
Vincenzo Carrieri, Leonardo Madio et Francesco Principe
n° 102371, décembre 2020
Governments worldwide are increasingly concerned about the booming use of CBD (cannabidiol) products. However, we know little about the impact of their liberalization. We study a unique case of unintended liberalization of a CBD-based product (light cannabis) that occurred in Italy in 2017. Using...
Benjamin Ouvrard, Jens Abildtrup et Anne Stenger
vol. 177, 2020, p. 106748
Marianne Andries et Valentin Haddad
vol. 128, n° 5, 2020, p. 1901–1939
Information aversion, a preference-based fear of news flows, has rich implications for decisions involving information and risk-taking. It can explain key empirical patterns on how households pay attention to savings, namely that investors observe their portfolios infrequently, particularly when...
Chiara Canta, Helmuth Cremer et Firouz Gahvari
vol. 55, 2020, p. 687–734
We study the role and the design of long-term care insurance programs when informal care is uncertain; with and without active actuarially-fair private insurance markets against dependency. Three types of public insurance policies are considered: (i) a topping-up scheme, (ii) an opting-out scheme,...
