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Tiziana Assenza, Fabrice Collard, Martial Dupaigne, Patrick Fève, Christian Hellwig, Sumudu Kankanamge et Nicolas Werquin
n° 20-1099, mai 2020
We develop a comprehensive framework for analyzing optimal economic policy during a pandemic crisis in a dynamic economic model that trades off pandemic-induced mortality costs against the adverse economic impact of policy interventions. We use the comparison between the planner problem and the...
Jihyun Kim et Nour Meddahi
n° 20-1097, mai 2020
Nowadays, a common method to forecast integrated variance is to use the fitted value of a simple OLS autoregression of the realized variance. However, non-parametric estimates of the tail index of this realized variance process reveal that its second moment is possibly unbounded. In this case, the...
Stefan Pollinger
n° 20-1109, mai 2020, révision janvier 2021
This paper shows that the optimal combination of social distancing and case detection allows for complete and efficient eradication of COVID-19. The first contribution is theoretical. I show that the optimal suppression-policy is a simple function of observable sufficient-statistics, making it...
Christine Thomas-Agnan, Thibault Laurent, Anne Ruiz-Gazen, T.H.A Nguyen, Raja Chakir et Anna Lungarska
n° 20-1098, mai 2020, révision juin 2021
Econometric land use models study determinants of land-use-shares of different classes: ``agriculture'', ``forest'', ``urban'' and ``other'' for example. Land-use-shares have a compositional nature as well as an important spatial dimension. We compare two compositional regression models with a...
Stefan Lamp et Mario Samano
n° 20-1103, mai 2020, révision septembre 2020
Policies to incentivize the adoption of renewable energy sources (RES) usually offer little flexibility to adapt to heterogeneous benefits across locations. We evaluate the geographical misallocation of RES associated with the uniform nature of subsidies. We estimate the dispersion of marginal...
Christian Bontemps et Raquel Menezes Bezerra Sampaio
n° 20-1108, mai 2020
In this paper we review the literature on static entry games and show how they can be used to estimate the market structure of the airline industry. The econometrics challenges are presented, in particular the problem of multiple equilibria and some solutions used in the literature are exposed. We...
Jihyun Kim, Joon Park et Bin Wang
n° 20-1096, mai 2020
In the paper, we introduce and analyze a new methodology to estimate the volatility functions of jump diffusion models. Our methodology relies on the standard kernel estimation technique using truncated bipower increments. The relevant asymptotics are fully developed, which allow for the time span...
Pascal Lavergne et Patrice Bertail
n° 20-1102, mai 2020, révision juin 2021
We consider quasi likelihood ratio (QLR) tests for restrictions on parameters under potential model misspecification. For convex M-estimation, including quantile regression, we propose a general and simple nonparametric bootstrap procedure that yields asymptotically valid critical values. The...
Paul-Henri Moisson et Jean Tirole
mai 2020
The paper investigates factors that undermine meritocracy and policies that may restore it. To this purpose, it analyzes the Markovian dynamics, the entrenchment and the welfare properties of an organization whose members’ cooptation decisions are driven by two motives: quality and homophily. It...
Hillard Kaplan, Benjamin C. Trumble, Jonathan Stieglitz, Roberta Mendez Mamany, Maguin Gutierrez Cayuba, Leonardina Maito Moye, Sarah Alami, Thomas S. Kraft, Raul Quispe Gutierrez, Adrian Juan Copajira, Randall Thompson, Gregory Thomas, Daniel Eid Rodriguez, David E. Michalik et Michael Gurven
Indigenous communities worldwide share common features that make them especially vulnerable to the complications of and mortality from COVID-19. They also possess resilient attributes that can be leveraged to promote prevention efforts. How can indigenous communities best mitigate potential...
