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James K. Hammitt et Lisa A. Robinson
vol. 35, n° 6, juin 2015, p. 1086–1100
The value of small changes in mortality risk, conventionally expressed as the value per statistical life (VSL), is a major determinant of the benefits of many environmental, health, and safety regulations and other policies. However, selecting an appropriate value is challenging. Different studies...
David Arseneau, Ryan Chahrour, Sanjay Chugh et Alan Shapiro
vol. 47, n° 4, juin 2015, p. 617–672
This paper presents a model in which some goods trade in \customer markets." In these markets, advertising plays a critical role in facilitating long-lived relationships. We estimate both policy and non-policy parameters of the model (which includes New-Keynesian frictions) on U.S. data, including...
Marie-Laure Allain, Marcel Boyer, Rachidi Kotchoni et Jean-Pierre Ponssard
vol. 42, juin 2015, p. 38–47
Deterring the formation or continuation of cartels is a major objective of antitrust policy. We develop a dynamic framework to characterize the compensation and deterrence properties of fines, based on the fact that cartel stability depends on the ability to prevent deviation, which itself depends...
Fabrice Collard, Michel Habib et Jean-Charles Rochet
vol. 13, n° 3, juin 2015, p. 381–420
We develop a measure of maximum sustainable government debt for advanced economies. How much investors are willing to lend to a country's government depends on the country's expected primary surplus, the level and volatility of its rate of growth, and how much debt the government expects to be able...
Petra Moser
Quai Branly, Paris, 26 juin 2015
Joel Waldfogel
Jean Tirole
Catherine Tucker
Fiona Scott Morton (Yale School of Management)
23 juin 2015
