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Pierre-Olivier Pineau et Étienne de Villemeur
n° 09-118, novembre 2009
Electricity trade across regions is often considered welfare enhancing. We show in this paper that this could be reconsidered if environmental externalities are taken into account. We consider two cases where trade is beneficial, before accounting for environmental damages: first, when two regions...
Vittoria Cerasi, Barbara Chizzolini et Marc Ivaldi
n° 09-113, novembre 2009, révision 7 juin 2012
This paper analyses the relation between competition and concentration in the banking sector. The empirical answer is given by testing a monopolistic competition model of bank branching behaviour on individual bank data at county level (départements and provinces) in France and Italy. We propose a...
Jean-Pierre Amigues, Ujjayant Chakravorty et Michel Moreaux
n° 09-115, novembre 2009
Regulation of environmental externalities like global warming from the burning of fossil fuels (e.g., coal and oil) is often done by capping both emission flows and stocks. For example, the European Union and states in the Northeastern United States have introduced caps on flows of carbon emissions...
Paul Beaudry, Martial Dupaigne et Franck Portier
n° 09-117, novembre 2009
This paper reexamines the question of how to explain business cycle co-movements within and between countries. First, we present two simple theoretically flexible price models to illustrate how and why news shocks can generate robust positive co-movements in economic activity across countries. We...
Elodie Djemaï
n° 09-120, novembre 2009
This paper empirically analyzes the influence of road proximity on HIV-infection using geographical data on road infrastructure and the Demographic and Health Surveys collected in six African countries. Firstly we show that living in proximity to a major road increases the individual risk of...
Farid Gasmi et Juan Daniel Oviedo
n° 09-121, novembre 2009
This paper develops a simple model in which a regulated (upstream) transporter provides capacity to a marketer competing in output with an incumbent in the (downstream) gas commodity market. The equilibrium outcome of the firms' interaction in the downstream market is explicitly taken into account...
Astrid Hopfensitz et Tanja Wranik
n° 09-122, novembre 2009
Investment behavior is traditionally investigated with the assumption that it is on average advantageous to invest. However, this may not always be the case. In this paper, we experimentally studied investment choices made by students and financial professionals facing alternately an advantageous...
Astrid Hopfensitz, Michal Krawczyk et Frans Van Winden
n° 09-123, novembre 2009
This experimental study is concerned with the impact of the timing of the resolution of risk on investment behavior, with a special focus on the role of affect. In a between-subjects design we observe the impact of a substantial delay of risk resolution (2 days) on investment choices. Besides the...
Martial Dupaigne et Patrick Fève
n° 09-114, novembre 2009
We use Structural Vector Autoregressions to study the impact of technology improvements on hours worked in the major seven countries. While previous studies estimate the response of labor input to permanent shocks to country -level labor productivity, we consider the response of labor input to...
Emmanuelle Auriol et Michael Walters
n° 09-110, novembre 2009
In this paper we propose estimates of the marginal cost of public funds (MCF) in 38 African countries. We develop a simple general equilibrium model that can handle taxes on five major tax classes, and can be calibrated with little more than national accounts data. Our base case estimate of the...
