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Mikhail Golosov, Aleh Tsyvinski et Nicolas Werquin
sous la direction de John B. Taylor et Harald Uhlig, vol. 2, chapitre 10, 2016, p. 725–841
In this chapter we study dynamic incentive models in which risk sharing is endogenously limited by the presence of informational or enforcement frictions. We comprehensively overview one of the most important tools for the analysis such problems—the theory of recursive contracts. Recursive...
Pierre Dubois et Bruno Jullien
n° 16-730, novembre 2016
The paper argues that the emergence of private labels can be partially explained by the new information technologies available at the retail level. In our approach, the owner of a brand has ìdecision rightsîon product design, while the details of the production and distribution are left to...
Emmanuelle Auriol, Erling Hjelmeng et Tina Søreide
n° 16-728, novembre 2016
Cet article étudie comment les jeux de la règlementation, des contrôles et des sanctions destinées à protéger les consommateurs et les contribuables contre les abus des entreprises, à savoir les programmes de clémences et de procédures négociées dans le cas de lutte contre les ententes, et les...
Guy-El-Karim Berthomé et Alban Thomas
n° 16-729, novembre 2016
The efficiency of participatory schemes in environmental planning is an emerging research area, and many issues are not solved yet regarding the assessment of such procedures. It is essential for decision makers to identify improvement opportunities of participatory schemes. We propose an original...
Marion Robert, Alban Thomas et Jacques Eric Bergez
n° 16-731, novembre 2016
Agricultural production systems are facing new challenges due to an ever changing global environment that is a source of risk and uncertainty. To adapt to these environmental changes, farmers must adjust their management strategies and remain competitive while also satisfying societal preferences...
Isis Durrmeyer et Mario Samano
n° 16-732, novembre 2016, révision mai 2017
We compare the welfare effects in equilibrium of two environmental regulations that aim at increasing the new cars fleet’s average fuel efficiency: the fuel economy standards and the feebate policies. Maintaining the same environmental benefit and tax revenue, we simulate the implementation of each...
Céline Bonnet, Zohra Bouamra-Mechemache, Gordon Klein et Timothy J. Richards
n° 16-733, novembre 2016
Retailers often stock items that are only slightly differentiated from others??differ- ent sizes of a popular brand, or different ?avors in a common product line for instance. We argue that this practice is a form of strategic obfuscation, intended to raise con- sumer search costs, and margins on...
Paul Beaudry, Dana Galizia et Franck Portier
n° 16-734, novembre 2016
This paper begins by re-examining the spectral properties of several cyclically sensitive variables such as hours worked, unemployment and capacity utilization. For each of these series, we document the presence of an important peak in the spectral density at a periodicity of approximately 36-40...
n° 16-735, novembre 2016
Recessions often happen after periods of rapid accumulation of houses, consumer durables and business capital. This observation has led some economists, most notably Friedrich Hayek, to conclude that recessions often reflect periods of needed liquidation resulting from past over-investment....
n° 16-736, novembre 2016
In most modern macroeconomic models, the steady state (or balanced growth path) of the system is a local attractor, in the sense that, in the absence of shocks, the economy would converge to the steady state. In this paper, we examine whether the time series behavior of macroeconomic aggregates (...
