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Sophie Fay
3 décembre 2009
Augustin Landier et David Thesmar
2 décembre 2009
Augustin Landier
Pierre Dubois et Ethan Ligon
n° 09-108, novembre 2009
Using data on individual consumption from farm households in the Philippines, we construct a direct test of risk-sharing within the household. We contrast the efficient outcomes predicted by the unitary household model with the outcomes we might expect if food consumption delivers not only utils,...
Christian Gollier et Martin L. Weitzman
n° 09-107, novembre 2009
It is not immediately clear how to discount distant-future events, like climate change, when the distant-future discount rate itself is uncertain. The so-called “Weitzman-Gollier puzzle” is the fact that two seemingly symmetric and equally plausible ways of dealing with uncertain future discount...
Helmuth Cremer, Firouz Gahvari et Pierre Pestieau
n° 09-119, novembre 2009
When accidental bequests signal otherwise unobservable individual characteristics such as productivity and longevity, the tax administration should partition the population into two groups: One consisting of people who do not receive an inheritance and the other of those who do. The first tagged...
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...
