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Ashot Aleksian et Stéphane Villeneuve
n° 25-1612, janvier 2025
This paper investigates the exit-time problem for time-inhomogeneous diffusion processes. The focus is on the small-noise behavior of the exit time from a bounded positively invariant domain. We demonstrate that, when the drift and diffusion terms are uniformly close to some time-independent...
Haneul Jang et Daniel Redhead
n° 25-1611, janvier 2025
Cultural transmission across generations is key to cumulative cultural evolution. While several mechanisms—such as vertical, horizontal, and oblique transmission—have been studied for decades, how these mechanisms change across the life course, beyond childhood. Furthermore, it remains under-...
Ilaria Natali
n° 25-1610, janvier 2025
Recent scientific research suggests that the environment represents an important pathway for the spread of antimicrobial resistance (AMR). This paper is the first to provide causal estimates of the impact of fine particulate matter (PM2.5) on AMR diffusion. I focus on EU countries and the period...
Emmanuelle Auriol et Anaïs Dahmani-Scuitti
n° 25-1609, janvier 2025
In a model featuring two regions—one affluent and the other impoverished—the allocation of public spending is examined under an initially centralized and autocratic political process. In a stable autocracy, the decision to implement decentralization reforms hinges on a tradeoff: while...
Ulrich Hege, Kai Li et Yifei Zhang
n° 25-1608, janvier 2025
We study the effect of climate-related innovation on carbon emissions by analyzing supply chain networks. We find that climate innovation reduces carbon emissions at customer firms, driven by product innovations. The effect is economically significant, dominated by the most emission-intensive...
Emmanuel Farhi et Jean Tirole
vol. 92, n° 1, janvier 2025, p. 268–298
Authorities’ support policies shape the location and continuation of industrial and banking activity on their soil. Firms’ locus of activity depends on their prospect of receiving financial assistance in distress and therefore on factors such as countries’ relative resilience. We predict that...
Yasser Abbas, Abdelaati Daouia, Boutheina Nemouchi et Gilles Stupfler
n° 25-1607, janvier 2025
Expectiles have received increasing attention as coherent and elicitable market risk measure. Their estimation from heavy-tailed data in an extreme value framework has been studied using solely the Weissman extrapolation method. We challenge this dominance by developing the theory of two classes of...
Tong Wang (University of Edinburgh)
Toulouse, janvier 2025
Dong Ook Choi (Sangmyung University)
Emeric Henry (Sciences-Po)
