Recherche avancée

Yassine Lefouili et Leonardo Madio

vol. 105, n° 103269, avril 2026

In this paper, we review recent studies on the impact of mergers on investments. We begin by examining how mergers among competing incumbents inf luence firms’ incentives to develop new products and undertake cost-reducing or quality-enhancing investment. We then analyze how an incumbent’s...

Sandor Juhász, Johannes Wachs, Jermain Kaminski et César Hidalgo

vol. 55, n° 3 (105422), avril 2026

Despite the growing importance of the digital sector, research on economic complexity and its implications continues to rely mostly on administrative records—e.g. data on exports, patents, and employment—that have blind spots when it comes to the digital economy. In this paper we use data on the...

Christophe Cahn, Patrick Fève et Julien Matheron

vol. 184, n° 105243, avril 2026

This paper evaluates the long-run economic effects of a fiscal rebalancing reform, namely a policy consisting in increasing consumption taxes and simultaneously lowering payroll taxes, all this in a budget neutral way. To this end, we construct a heterogeneous-agent model and compare the pre- and...

Jean-Paul Décamps, Fabien Gensbittel et Thomas Mariotti

vol. 36, n° 2, avril 2026, p. 1769–1814

We prove the existence of a Markov-perfect equilibrium in randomized stopping times for a model of the war of attrition in which the underlying state variable follows a homogenous linear diffusion. We first prove that the space of Markovian randomized stopping times can be topologized as a compact...

Claire Borsenberger, Helmuth Cremer, Denis Joram, Jean-Marie Lozachmeur et Estelle Malavolti

n° 26-1747, mars 2026, révision mai 2026

We study environmental policy in imperfectly competitive markets where firms differ in their objectives. Alongside standard profit-maximizing firms, we consider welfareoriented firms that partially or fully internalize environmental externalities but are subject to financial viability constraints....

Pascal Bégout et Jesus Ildefonso Diaz

vol. 46, n° 2, mars 2026, p. 153–183

We study the complex Ginzburg–Landau equation posed on possibly unbounded domains, including some singular and saturated nonlinear damping terms. This model interpolates between the nonlinear Schr¨odinger equation and dissipative parabolic dynamics through a complex timederivative prefactor,...

Edmond Baranes, Ulrich Hege et Jin-Hyuk Kim

n° 26-1730, mars 2026

We present a stylized model of three entrepreneurial financing methods based on two tradeoffs. First, token financing and crowdfunding reveal consumer-investors’ demand for the product prior to investment, but upfront purchase weakens the entrepreneur’s incentive to deliver. Second, token financing...

Evangelina Dardati, Thibault Laurent, Paula Margaretic, Ean Paredes et Christine Thomas-Agnan

n° 26-1728, mars 2026

This paper evaluates the role of climate variables in predicting international migration by proposing two alternative modeling approaches: scalar-on-composition and scalar-on-density regressions. We compare them with the standard scalar-on-scalar approach. Although most studies rely on annual...

Abdelaati Daouia, Joseph Hachem et Gilles Stupfler

n° 26-1727, mars 2026

A major mathematical difficulty in studying extreme value parameter estimators defined as empirical mean excesses is their reliance on high order statistics above a random threshold. Based on simple yet novel derandomization arguments, we provide sufficient conditions for deriving the joint...

Xiao Xu, Nikhil Chaudhari, Phoebe E. Imms, Nahian Chowdhury, Fangyun C. Liu, Jorge A. Solis Galvan, Bavrina Bigjahan, Grant Schleifer, Maria Ashna, Blake Hannagan, Giuseppe Barisano, Daniel Cummings, Daniel Eid Rodriguez, Paul L. Hooper, Edmond Seabright, Randall C. Thompson, Benjamin C. Trumble, Michael Gurven, Jonathan Stieglitz, Caleb Finch, Linda Sutherland, Helena Chui, Margaret Gatz, Wendy Mack, Hillard Kaplan et Andrei Irimia

mars 2026