Paris-Jourdan Sciences Economiques

Displaying 1-40 of 52 results

  • White Papers // May 2011

    Explaining Russian Manufacturing Exports: Firm Characteristics And External Conditions

    This paper examines the exporting behaviour of Russian manufacturers by considering the effects of firm characteristics and external conditions. Two measures of export behaviour are considered: the decision to export and the share of exports to developed markets. The author finds that specific exporting experience is the main determinant of...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // May 2011

    Why And How To Measure Stock Market Fluctuations? The Early History Of Stock Market Indices, With Special Reference To The French Case

    Stock market indices are vital to macroeconomists, to financial economists as well as to actors in the financial world. Indices consistently built on the long term are essential to assess those regularities that help understanding the actual behaviour of financial actors, the evolution of the economy, and its position in...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Technical Change In A Neoclassical Two-Sector Model Of Optimal Growth

    This paper investigates into the asymmetrical consequences of consumption-specific and investment-specific technical change in a two-sector growth framework. Hicks-neutral technological shocks of the former type increase steady-state consumption one-for-one and Hicks-neutral technological shocks of the latter type increase steady-state consumption by a factor equal to the ratio of the macroeconomic...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Geometry Of Global Production And Factor Price Equalisation

    The authors consider a production economy where commodities are partitioned into irreproducible factors and reproducible goods, and the production technologies have constant returns to scale. They examine the geometry of the efficient frontier of the global production set and derive theorems of non-substitution type. They complement the geometric viewpoint by...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Exports, Sunk Costs And Financial Restrictions In Argentina During The 1990s

    This paper examines firms' export decisions in Argentina during the 1990s. Using a sample of 1600 Argentine industrial firms with information for the years 1992, 1996, 1998 and 2001, the authors test which factors affect the probability of entering foreign markets. They focus on the role of sunk costs and...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Internal Versus External Labour Flexibility: The Role Of Knowledge Codification

    This paper uses a competence-based approach to the firm in order to analyse the recent destabilisation of internal labour markets. The authors argue that increasing knowledge codification made possible by the diffusion of information and communication technologies has made competences less dependent upon individuals. Knowledge has been increasingly embodied in...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Exclusive Contracts And Demand Foreclosure

    A firm may decide to have some of its customers sign exclusive contracts in order to deprive a rival of the minimum viable size, exclude it from the market, and enjoy increased market power. If contracts are required to be simple enough, this strategy may induce inefficient exclusion even if...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Strategic Complementarity Of Information Acquisition In A Financial Market With Discrete Demand Shocks

    A simple model of financial market with rational learning and without friction is presented in which the value of private information increases with the mass of in-formed individuals, contrary to the property presented by Grossman and Stiglitz (1980). The key assumption is the possibility of independent discrete shocks on the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Growth Strategies And Poverty Reduction: The Institutional Complementarity Hypothesis

    This paper starts from the limits of the policies that assume a significant de-connection between antipoverty strategies and the logic of the growth regime and that mainly rely upon market mechanisms. By contrast, a branch of the new institutional economics argues that a complete set of coordinating mechanisms is constitutive...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Paris Financial Market In The 19th Century: An Efficient Multi-Polar Organization ?

    The literature in financial history usually considers London as the only centre of the late 19th century's financial globalization, and explains it at least in part by the efficient microstructure (organization) of the London Stock Exchange (LSE). The LSE is characterized as having been a little regulated market, where entry...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Interest Rate Rules And Global Determinacy: An Alternative To The Taylor Principle

    A most wellknown determinacy condition on interest rate rules is the "Taylor principle", which says that nominal interest rates should respond more than hundred percent to inflation. Unfortunately, notably because interest rates must be positive, the Taylor principle cannot be satisfied for all interest rates, and as a consequence global...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Influence Of Supplementary Health Insurance On Switching Behaviour: Evidence On Swiss Data

    This paper focuses on the switching behaviour of sickness fund enrollees in the Swiss health insurance system. Even though the new Federal Law on Social Health Insurance (LAMal) was implemented in 1996 to promote competition among health insurers in basic insurance, there still remain large premium variations within cantons. This...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    A Challenge To Triumphant Optimists? A Blue Chips Index For The Paris Stock-Exchange (1854-2007)

    The authors analyze a new blue chips (large caps) stock index for France from 1854 to 1998. They detail its methodology and show that it differs profoundly from earlier indices, and that it is more consistent with the French financial and economic history. They suggest this result casts some doubt...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Formation Of Financial Industries In USA, France And Russia

    Despite the multiplicity of research on the surge of the financial industry the world over, little is done to understand the national context shaping the objectives and designs of this economic sector. The overall image that emerges from the literature is that globalization and liberalization of economies make the expansion...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Potential Output Growth In Several Industrialised Countries: A Comparison

    In this paper, the authors present international comparisons of potential output growth among several economies -Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States-for the period 1991-2004, for which they construct consistent and homogenous capital stock series. The main estimates rely on...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Competition, R&D And The Cost Of Innovation

    This paper proposes a model in the spirit of Aghion et al. (2005) that relates the magnitude of the impact of competition on R&D to the cost of innovation. The effect of competition on R&D is an inverted U-shape. However, the shape is flatter and competition policy is therefore less...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Product Innovation And Imitation In A Duopoly With Differentiation By Attributes

    This paper considers a probabilistic duopoly in which products are described by their specific attributes, this form of differentiation embodying the horizontal and vertical dimensions. Consumers make discrete choices and follow a random decision rule based on these attributes. A three-stage game is studied in which firms develop new attributes...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Monetary Policy Uncertainty And Macroeconomic Performance: An Extended Non-Bayesian Framework

    The existing literature has shown that less political uncertainty, or more central bank transparency, may worsen macroeconomic performance by raising the nominal wage. The authors extend this analysis to a non-Bayesian framework, where there is some aversion to ambiguity. They show that the result found in the literature under the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Human Capital Investment And Long-Term Poverty Reduction In Rural Mexico

    By focusing on human capital investment, the Mexican Oportunidades program will influence the economic choices of the rural poor. To understand how beneficiaries may alter their behaviour as a result of this intervention, this paper uses administrative data to analyze the economic activities of the Mexican rural poor. Results indicate...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    International Labour Standards And Product Differentiation

    In the last decades the interaction between Labour Standards and International Trade has assumed new importance. The authors use an incentive based-approach to assess the efficiency of trade policy instruments and private schemes for the promotion of international labour standards in Southern Firms. They show that trade policy instruments may...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Finance And The Rise In Inequalities In France

    Based on the DADS, a very detailed French database on wages, the authors show that wage inequalities started to increase in France in the mid-1990s. This phenomenon is limited to the top end of income distribution and concerns mainly the top 0.1%, whose share of total salaries increased from 1.2%...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Co-Evolution Of Social Capital And Financial Development

    This paper documents the co-evolution of social capital, measured as generalized trust, and financial development over the twentieth century. The author uses cross generations inherited trust of Americans with foreign ancestors to track trust in their home country in 1913 and 1990. The paper documents a positive cross-section relationship between...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Patent Office In Innovation Policy: Nobody~s Perfect

    The number of patent applications and "Bad" patents issued has been rising rapidly in recent years. Based on this trend, the authors study the overload problem within the Patent Office and its consequences on the firms' R&D incentives. They assume that the examination process of patent applications is imperfect, and...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Mar 2011

    Healthcare Access For Migrants In China: A New Frontier

    How can healthcare access for Chinese migrants be improved? Migrant workers face two types of healthcare-access exclusion in the workplace: a financial one (via income) and a legislative one (from the hukou). The authors use 2006 data from a survey of rural migrant workers conducted in five of the most...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Mar 2011

    Optimal Growth And The Golden Rule In A Two-Sector Model Of Capital Accumulation

    The authors contribute to the literature on optimal growth in two-sector models by solving a Ramsey problem with a concave utility function. The unique possible steady-state is independent of initial conditions and of the instantaneous utility function, but not of the discount rate, and is characterized by a wage-rental ratio...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Mar 2011

    Persistent Anti-market Culture: A Legacy Of The Pale Of Settlement And Of The Holocaust

    The authors investigate the long-term effects of the important presence of Jews in Eastern Europe before the Second World War and their disappearance during the Holocaust. The Pale of Settlement, the area which Jewish residents were confined to in the Russian Empire, is used as a source of exogenous variation...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2011

    Product Complexity, Quality Of Institutions And the Pro-Trade Effect Of Immigrants

    The paper assesses the trade-creating impact of foreign-born residents on the international imports and exports of the French regions where they are settled. The pro-trade effect of immigrants is investigated along two intertwined dimensions: The complexity of traded goods and the quality of institutions in partner countries. The trade-enhancing impact...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2011

    Valuing Jobs Via Retirement: European Evidence

    While much has been made of the value of employment relative to unemployment, much less is known about the value of work relative to retirement. The authors here use two European panel datasets to first show that psychological well-being (measured on the EURO-D and GHQ scales) barely changes on average...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Dec 2010

    Advertising And R&D: Theory And Evidence From France

    This paper exploits a unique panel of 59,000 French firms over 1990-2004 to investigate the interactions between R&D, advertising and the competitive environment. The empirical findings confirm the predictions of a dynamic model that complements results known in static frameworks. First, more competition pushes Neck and Neck firms to advertise...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Imprecision Of Central Bank Announcements And Credibility

    The authors consider a model where the central bank faces a credibility problem in its announcements, but also cares about its credibility and, therefore, wants to make truthful announcements. They show that, although the central bank would be able to perfectly transmit its information to the private sector through precise...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Will GDP Growth Increase Happiness In Developing Countries?

    This paper asks what low-income countries can expect from growth in terms of happiness. It interprets the set of available international evidence pertaining to the relationship between income growth and subjective well-being. Conforming to the Easterlin paradox, higher income always correlates with higher happiness, except in one case: whether national...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Looking On English And German Banking In The French Mirror: Banking And Development In France (1880-1913)

    This paper aim to prove positive correlations between local banking, industry, innovation, and growth in the French classical period (1880-1913). Empirical works on GDP per capita growth gives positive correlation with local banking indicator. The relation is all the stronger since local banking tied on non agricultural economies. Thus, the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Eductive Stability In Real Business Cycle Models

    The authors re-examine issues of coordination in the standard RBC model. Can the unique the unique rational expectations equilibrium be "Educed" by rational agents who contemplate the possibility of small deviations from equilibrium? Surprisingly, the authors find that coordination along this line cannot be expected. Rational agents anticipating small but...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Framing Social Security Reform: Behavioral Responses To Changes In The Full Retirement Age

    The authors use a US Social Security reform as a quasi-experiment to provide evidence on framing effects in retirement behavior. The reform increased the Full Retirement Age (FRA) from 65 to 66 in two month increments per year of birth for cohorts born from 1938 to 1943. They find strong...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    Natural Natural Disasters And Economic Disruption

    The cost of natural calamities is not limited to direct damages and immediate material costs. Economies in the wake of severe shocks experience important slowdowns and long business disruptions. The author constructs a unique dataset of objective measures on cyclones and earthquakes between 1980 and 2006 and complement existing reports...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    Are Union Representatives Badly Paid? Evidence From France

    In this paper, the author studies the wage differential between firms' union representatives and their coworkers using a linked employer-employee dataset. On the employee side of the data, the surveyed workers are asked if they are unionized but one do not know which unionized workers are union representatives. On the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    The Non-monetary Side Of The Global Disinflation

    The dramatic decline in inflation across the world over the last 20 years has been largely credited to improved monetary policy. The universal nature of the phenomenon and its simultaneity with globalization however indicate that there might also be a "Real" side to it. The authors build a model based...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    Liquidity, Risk And Occupational Choices

    The authors explore whether financial constraints matter and which financial constraints matter the most in the choice of becoming an entrepreneur. They exploit a randomly assigned welfare program in rural Mexico to show that cash transfers significantly increase entry into entrepreneurship, thereby providing evidence of financial constraints. They then develop...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Sep 2010

    Firms' Rents, Workers' Bargaining Power And The Union Wage Premium In France

    In this paper, the author studies the wage premium associated with firm-level union recognition in France and show that this premium is due to a rent-extraction phenomenon. Using a large matched employer-employee dataset from a 2002 survey in France, the author first estimates a series of wage determination models that...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Jun 2010

    Are Gifts And Loans Between Households Voluntary?

    Using village data from Tanzania, the authors test whether gifts and loans between households are voluntary while correcting for misreporting by the giving and receiving households. Two maintained assumptions underlie the analysis: answers to a question on which people would turn to for help are good proxies for willingness to...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Eductive Stability In Real Business Cycle Models

    The authors re-examine issues of coordination in the standard RBC model. Can the unique the unique rational expectations equilibrium be "Educed" by rational agents who contemplate the possibility of small deviations from equilibrium? Surprisingly, the authors find that coordination along this line cannot be expected. Rational agents anticipating small but...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Dec 2010

    Advertising And R&D: Theory And Evidence From France

    This paper exploits a unique panel of 59,000 French firms over 1990-2004 to investigate the interactions between R&D, advertising and the competitive environment. The empirical findings confirm the predictions of a dynamic model that complements results known in static frameworks. First, more competition pushes Neck and Neck firms to advertise...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Imprecision Of Central Bank Announcements And Credibility

    The authors consider a model where the central bank faces a credibility problem in its announcements, but also cares about its credibility and, therefore, wants to make truthful announcements. They show that, although the central bank would be able to perfectly transmit its information to the private sector through precise...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Will GDP Growth Increase Happiness In Developing Countries?

    This paper asks what low-income countries can expect from growth in terms of happiness. It interprets the set of available international evidence pertaining to the relationship between income growth and subjective well-being. Conforming to the Easterlin paradox, higher income always correlates with higher happiness, except in one case: whether national...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Looking On English And German Banking In The French Mirror: Banking And Development In France (1880-1913)

    This paper aim to prove positive correlations between local banking, industry, innovation, and growth in the French classical period (1880-1913). Empirical works on GDP per capita growth gives positive correlation with local banking indicator. The relation is all the stronger since local banking tied on non agricultural economies. Thus, the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    The Non-monetary Side Of The Global Disinflation

    The dramatic decline in inflation across the world over the last 20 years has been largely credited to improved monetary policy. The universal nature of the phenomenon and its simultaneity with globalization however indicate that there might also be a "Real" side to it. The authors build a model based...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2010

    Framing Social Security Reform: Behavioral Responses To Changes In The Full Retirement Age

    The authors use a US Social Security reform as a quasi-experiment to provide evidence on framing effects in retirement behavior. The reform increased the Full Retirement Age (FRA) from 65 to 66 in two month increments per year of birth for cohorts born from 1938 to 1943. They find strong...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    Natural Natural Disasters And Economic Disruption

    The cost of natural calamities is not limited to direct damages and immediate material costs. Economies in the wake of severe shocks experience important slowdowns and long business disruptions. The author constructs a unique dataset of objective measures on cyclones and earthquakes between 1980 and 2006 and complement existing reports...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Mar 2011

    Persistent Anti-market Culture: A Legacy Of The Pale Of Settlement And Of The Holocaust

    The authors investigate the long-term effects of the important presence of Jews in Eastern Europe before the Second World War and their disappearance during the Holocaust. The Pale of Settlement, the area which Jewish residents were confined to in the Russian Empire, is used as a source of exogenous variation...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    Liquidity, Risk And Occupational Choices

    The authors explore whether financial constraints matter and which financial constraints matter the most in the choice of becoming an entrepreneur. They exploit a randomly assigned welfare program in rural Mexico to show that cash transfers significantly increase entry into entrepreneurship, thereby providing evidence of financial constraints. They then develop...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Oct 2010

    Are Union Representatives Badly Paid? Evidence From France

    In this paper, the author studies the wage differential between firms' union representatives and their coworkers using a linked employer-employee dataset. On the employee side of the data, the surveyed workers are asked if they are unionized but one do not know which unionized workers are union representatives. On the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Sep 2010

    Firms' Rents, Workers' Bargaining Power And The Union Wage Premium In France

    In this paper, the author studies the wage premium associated with firm-level union recognition in France and show that this premium is due to a rent-extraction phenomenon. Using a large matched employer-employee dataset from a 2002 survey in France, the author first estimates a series of wage determination models that...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Jun 2010

    Are Gifts And Loans Between Households Voluntary?

    Using village data from Tanzania, the authors test whether gifts and loans between households are voluntary while correcting for misreporting by the giving and receiving households. Two maintained assumptions underlie the analysis: answers to a question on which people would turn to for help are good proxies for willingness to...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // May 2010

    Trade Liberalization And Poverty Dynamics In Vietnam 2002-2006

    This paper shows the evolution of poverty in Vietnam during the deepening of trade liberalization and examines the impact of trade-related variables at the household level. The paper is based on a panel dataset of households followed in 2002, 2004 and 2006. Trade-related variables at the household level are defined...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2010

    Decrease In The Healthcare Demand In Rural China: A Side Effect Of The Industrialization Process?

    In China, with the economic reforms leading to the raise in agricultural productivity, the rural healthcare organisation has been weakened. In a 1991-2006 database, a decrease in the healthcare demand is observed. If many papers study the effect of the insurance system (NCMS) on the healthcare demand, other factors explaining...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Mar 2010

    Credit Constraints And Distance, What Room For Central Banking? The French Experience (1880-1913)

    Although a relative consensus is emerging about the economic effects of credit development, many controversies remain as to the role of the central bank in that development. This paper addresses the process of credit allocation by the central bank as observed on a spatial basis. It examines how and why...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2010

    Workforce Reduction And Firm Performance: Evidence From French Firm Data

    Using a large annual data base of French firms (1994-2000), this paper examines the determinants of a workforce reduction of publicly-listed and non-listed companies and their consequences on firm performance. Firstly, workforce reduction appears to be a defensive response to an adverse economic shock. However, publicly-listed firms anticipate better than...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Jan 2010

    Senior Activity Rate, Retirement Incentives And Labor Relations

    How is it that populations react so differently to policy incentives among developed countries? The authors noticed that senior employment rates not only differ in level strikingly from one country to another, they also differ in their reaction to retirement incentives set by governments. They show the importance of trust...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Jan 2010

    How To Regulate A Financial Market? The Impact Of The 1893-1898 Regulatory Reforms On The Paris Bourse

    Theoretical and historical experience suggests a financial centre may either include a single, consolidated and loosely regulated stock exchange attracting all intermediaries and actors, or a variety of exchanges going from strictly regulated to completely unregulated and adapted to the needs of different categories of intermediaries, investors and issuers. Choosing...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Sep 2009

    Immigration And The Export Decision To The Home Country

    This paper analyzes the effect of immigrants' networks on the decision of individual firms to starting exporting to the immigrants' home country. Existing evidence on the trade-creating effect of immigrants show a robust effect, however at the national or regional level. Using French exports at the firm-level to 61 countries,...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Sep 2009

    Asymptotic Age Structures And Intergenerational Trade

    While demographers Lotka (1939) and Lopez (1961) proposed conditions on (exogenous) fertility and mortality laws under which populations with distinct initial age structures exhibit the same asymptotic age structure, this paper re-examines the issues of age structure stabilization and convergence, by considering a population whose fertility and mortality are endogenously...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Nov 2009

    Information Revelation In A Security Market: The Impact Of Uncertain Participation

    The paper analyzes how uncertainty on traders' participation affects a competitive security market in which there are some informed traders. The authors show that discontinuities, or "Crashes", can arise at equilibrium, even when no investor posts a priori an increasing demand. Because of uncertain participation, the precision of the information...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2009

    An Exploration Of Type Indeterminacy In Strategic Decision-Making

    The Type Indeterminacy model is a theoretical framework that formalizes the constructive preference perspective suggested by Kahneman and Tversky. In this paper the authors explore an extension of the TI-model from simple to strategic decision-making. A 2X2 game is investigated. They first show that in a one-shot simultaneaous move setting...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2009

    Local Export Spillovers In France

    This paper investigates the presence of local export spillovers on both the extensive (the decision to start exporting) and the intensive (the export volume) margins of trade, using data on French individual export flows, at the product-level and by destination country, between 1998 and 2003. The authors investigate whether the...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2009

    Financial Development, Entrepreneurship And Job Satisfaction

    This paper shows that utility differences between the self-employed and the employees increase with financial development. This effect is not explained by increased profits but by an increased value of non-monetary benefits, in particular job independence. The authors interpret these findings by building a simple occupational choice model in which...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2011

    Product Complexity, Quality Of Institutions And the Pro-Trade Effect Of Immigrants

    The paper assesses the trade-creating impact of foreign-born residents on the international imports and exports of the French regions where they are settled. The pro-trade effect of immigrants is investigated along two intertwined dimensions: The complexity of traded goods and the quality of institutions in partner countries. The trade-enhancing impact...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Feb 2011

    Valuing Jobs Via Retirement: European Evidence

    While much has been made of the value of employment relative to unemployment, much less is known about the value of work relative to retirement. The authors here use two European panel datasets to first show that psychological well-being (measured on the EURO-D and GHQ scales) barely changes on average...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Patent Office In Innovation Policy: Nobody~s Perfect

    The number of patent applications and "Bad" patents issued has been rising rapidly in recent years. Based on this trend, the authors study the overload problem within the Patent Office and its consequences on the firms' R&D incentives. They assume that the examination process of patent applications is imperfect, and...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Technical Change In A Neoclassical Two-Sector Model Of Optimal Growth

    This paper investigates into the asymmetrical consequences of consumption-specific and investment-specific technical change in a two-sector growth framework. Hicks-neutral technological shocks of the former type increase steady-state consumption one-for-one and Hicks-neutral technological shocks of the latter type increase steady-state consumption by a factor equal to the ratio of the macroeconomic...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    A Challenge To Triumphant Optimists? A Blue Chips Index For The Paris Stock-Exchange (1854-2007)

    The authors analyze a new blue chips (large caps) stock index for France from 1854 to 1998. They detail its methodology and show that it differs profoundly from earlier indices, and that it is more consistent with the French financial and economic history. They suggest this result casts some doubt...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Formation Of Financial Industries In USA, France And Russia

    Despite the multiplicity of research on the surge of the financial industry the world over, little is done to understand the national context shaping the objectives and designs of this economic sector. The overall image that emerges from the literature is that globalization and liberalization of economies make the expansion...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Finance And The Rise In Inequalities In France

    Based on the DADS, a very detailed French database on wages, the authors show that wage inequalities started to increase in France in the mid-1990s. This phenomenon is limited to the top end of income distribution and concerns mainly the top 0.1%, whose share of total salaries increased from 1.2%...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    The Co-Evolution Of Social Capital And Financial Development

    This paper documents the co-evolution of social capital, measured as generalized trust, and financial development over the twentieth century. The author uses cross generations inherited trust of Americans with foreign ancestors to track trust in their home country in 1913 and 1990. The paper documents a positive cross-section relationship between...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Mar 2011

    Optimal Growth And The Golden Rule In A Two-Sector Model Of Capital Accumulation

    The authors contribute to the literature on optimal growth in two-sector models by solving a Ramsey problem with a concave utility function. The unique possible steady-state is independent of initial conditions and of the instantaneous utility function, but not of the discount rate, and is characterized by a wage-rental ratio...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Exports, Sunk Costs And Financial Restrictions In Argentina During The 1990s

    This paper examines firms' export decisions in Argentina during the 1990s. Using a sample of 1600 Argentine industrial firms with information for the years 1992, 1996, 1998 and 2001, the authors test which factors affect the probability of entering foreign markets. They focus on the role of sunk costs and...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    International Labour Standards And Product Differentiation

    In the last decades the interaction between Labour Standards and International Trade has assumed new importance. The authors use an incentive based-approach to assess the efficiency of trade policy instruments and private schemes for the promotion of international labour standards in Southern Firms. They show that trade policy instruments may...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Human Capital Investment And Long-Term Poverty Reduction In Rural Mexico

    By focusing on human capital investment, the Mexican Oportunidades program will influence the economic choices of the rural poor. To understand how beneficiaries may alter their behaviour as a result of this intervention, this paper uses administrative data to analyze the economic activities of the Mexican rural poor. Results indicate...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Potential Output Growth In Several Industrialised Countries: A Comparison

    In this paper, the authors present international comparisons of potential output growth among several economies -Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States-for the period 1991-2004, for which they construct consistent and homogenous capital stock series. The main estimates rely on...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Competition, R&D And The Cost Of Innovation

    This paper proposes a model in the spirit of Aghion et al. (2005) that relates the magnitude of the impact of competition on R&D to the cost of innovation. The effect of competition on R&D is an inverted U-shape. However, the shape is flatter and competition policy is therefore less...

    Provided By Paris-Jourdan Sciences Economiques

  • White Papers // Apr 2011

    Product Innovation And Imitation In A Duopoly With Differentiation By Attributes

    This paper considers a probabilistic duopoly in which products are described by their specific attributes, this form of differentiation embodying the horizontal and vertical dimensions. Consumers make discrete choices and follow a random decision rule based on these attributes. A three-stage game is studied in which firms develop new attributes...

    Provided By Paris-Jourdan Sciences Economiques