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The dynamic and heterogeneous effects of COVID-19 vaccination mandates in the USA
No full textMandatory vaccination for COVID-19 has received intense political and ethical debates, while the literature on the causal effects of vaccination mandates on vaccination outcomes is very limited. In this study, we examine the effects of the announcement of vaccine mandates (VMs) for workers working in three sectors, including health, education, and state governments, on the uptake of first-dose and second-dose vaccination across 50 states in the United States of America. We show that VM announcements have heterogeneous effects; hence, standard two-way fixed effects and difference-in-differences estimators are biased. We present evidence for the heterogeneous treatment effects in single and two-treatment settings. In the setting of a single treatment, when treating all VM announcements equally, our results show that VM announcement was associated with an increase of 20.6% first-dose uptake from 1 July to 31 August 2021. In two-treatment settings, our results suggest that VM announcements for workers in health or state government sectors have significant causal effects on first-dose vaccination. Additionally, VM announcements do not have significant causal effects on second-dose uptake. Our results are robust to the choice of differing outcome variables and periods after controlling for state-level covariates, including COVID-19 death, unemployment, and cumulative two-dose vaccination
Le droit de l'associé sur la créance de la société liquidée (Note ss. Cass. 1re civ., 4 déc. 2024, n° 23-13.213)
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L’apparition de dettes ne suffit pas à caractériser une faute de gestion (Cass. com., 11 déc. 2024, n° 23-19.807)
No full textMergers and investments in new products
Get PDFThis paper examines how horizontal mergers affect firms’ incentives to invest in R&D leading to the development of new products. We characterize the impact of a merger to monopoly and a 3-to-2 merger on equilibrium innovation efforts and consumer surplus, absent efficiency gains and spillovers. We show that a 3-to-2 merger directly alters the outsider’s innovation incentives by shifting its best-response function upward, and we analyze how this mechanism affects merger outcomes for innovation and consumer surplus. Finally, we examine how efficiency gains and remedies modify post-merger innovation efforts
Climate, conflict and nternational migration
Get PDFThis paper examines the role of social conflict in the relationship between climate shocks and international migration. Using a comprehensive dataset of bilateral migration flows covering 155 origin and 122 destination countries from 1995 to 2020 and employ-ing the Palmer index as a proxy for climate change, we demonstrate that conflict acts as an amplifying mechanism for climate-induced migration. Our results show that as drought conditions worsen, middle- and high-income countries experiencing conflict are more inclined to have higher rates of international out-migration. Specifically, we find that a one standard deviation decrease in the Palmer index, indicating drier conditions, is associated with a 12% increase in out-migration flows from middle- and high-income countries experiencing conflict. We also explore spatial autocorrelation and document positive and significant origin- and destination-spatial dependence effects. Our analysis contributes to the emerging literature on climate-conflict-migration linkages and offers a novel methodological framework for assessing migration spillovers under climate stress
Mandat d’arrêt européen : la priorité à la confiance mutuelle supposant la remise, au détriment des droits fondamentaux, à propos de l’arrêt CJUE, 5ème ch., 29 juill. 2024, C-318/24
Get PDFLa Cour de justice vient d’apporter, une nouvelle fois, des précisions quant à l’application de la décision-cadre relative au mandat d’arrêt européen. Si elle se montre toujours plus sévère quant à l’appréciation des conditions dans lesquelles il est possible de refuser son exécution en raison d’une atteinte à un droit fondamental allégué par l’autorité judiciaire d’exécution, elle apprécie, à l’inverse, très souplement la possibilité de maintenir le mandat d’arrêt européen dont la mise en œuvre a été refusé une première fois
Assistance to electricity consumers with price misperception
Get PDFElectricity is consumed continuously night and day and is not storable at large scale.
Consequently, in an electricity industry organized and managed efficiently, demand
should be tightly responsive to time-varying prices. We explore the consequences of the
limited ability of electricity consumers to use price signals in their decisions to withdraw
energy from the grid and the advantages of an assistance service that can correct
this bias. Depending on the statistical distribution of price misperception types, we
determine the allocation of assistance that allows to decrease total consumption and the
outcome of different market structures. Because of the impossibility of distinguishing
between consumers who underestimate and those who overestimate electricity prices,
we show that it may be suboptimal to organize a market for assistance. We also show
that it is less efficient to rely on a private integrated monopoly than on two separate
private monopolies, one for assistance, the other for energy