Portail HAL Paris School of Economics (PSE)
Not a member yet
5677 research outputs found
Sort by
The impact of financial tightening on firm productivity: Maturity matters
No full textInternational audienceWe analyse how the combination of firm-level financial fragility and country-level financial constraints affect productivity growth in France, Italy and Spain. We first show that, although high leverage weighs on firm-level productivity in all three countries, more leveraged firms seem to suffer more from financial constraints only in Italy. In a second step, we show that this apparent specificity of Italian firms is related to the relatively short maturity of their debt. These results highlight the importance of liquidity constraints during periods of financial stress such as the Global Financial Crisis of 2008 or the European sovereign debt and banking crisis of 2011-13
Multidimensional welfare indices and the IPCC 6th Assessment Report scenarios
No full textInternational audienc
Is There a Bright Side to the China Syndrome? Rising Export Opportunities and Life Satisfaction in China
No full textInternational audienceExport growth affects individuals through numerous and contradictory channels. In China, the development of exports has promoted economic development and income growth, but it has also disrupted social structures and work environments. This paper explores the overall effect of exports on perceived well-being by combining responses from a large longitudinal survey covering over 45,000 Chinese with a shift-share measure of local export opportunities. Results show that individuals’ perceived life satisfaction increases significantly in prefectures that benefited from greater export opportunities, despite a negative effect on self-reported health. The positive well-being gains go beyond a simple income effect. These non-monetary gains are related to the individuals’ professional life: export-related well-being gains are stronger for working-age individuals (especially men and low-skilled workers), are largest for workers in the manufacturing sector (which produces the vast majority of China’s exports), and are found when the satisfaction indicator focuses on work but not on other aspects of daily life
Teleworking and Life Satisfaction in Germany during COVID-19: The Importance of Family Structure
No full textInternational audienceWe carry out a difference-in-differences analysis of a representative real-time survey conducted as part of the German Socio-Economic Panel (SOEP) study and show that teleworking had a negative average effect on life satisfaction over the first two years of the COVID-19 pandemic. This average effect hides considerable heterogeneity reflecting genderrole asymmetry: lower life satisfaction is only found for unmarried men and women with school-age children. The negative effect for women with school-age children disappears in 2021, suggesting adaptation to new constraints and/or the adoption of coping strategies
The Generalized System of Preferences and NGO activism
No full textInternational audienceCan NGOs contribute to the implementation of Labor Laws in a developing country? We exploit as a quasi-natural experiment the renegotiation of the Generalized System of Preferences (GSP) between the US and Indonesia in 1994, which induced the Indonesian government to raise the level of the legal minimum wage. Using data from Indonesian manufacturing firms, a diff-in-diff analysis and an event study show that the activism of workers’ rights groups helped increase firm-level average wages up to the minimum-wage level, not only inside but also outside the export sector. Labor NGO activism helped to implement the new minimum wage standards in a country that lacked strong governmental institutions
The Effects of Electronic Monitoring on Offenders and their Families
No full textElectronic monitoring (EM) has emerged as a popular tool for curbing the growth of large prison populations. Evidence on the causal effects of EM on criminal recidivism is, however, limited and it is unclear how this alternative to incarceration affects the labor supply of offenders and the outcomes of their family members. We study the countrywide expansion of EM in Sweden in 1997 wherein offenders sentenced to up to three months in prison were granted the option to substitute incarceration with EM. Our difference-in-differences estimates, which compare the change in the prison inflow rate of treated offenders to that of non-treated offenders with slightly longer sentences, show that the reform significantly decreased the number of incarcerations. Our main finding is that EM not only lowers criminal recidivism but also increases labor supply. Additionally, EM improves the educational attainment and early-life earnings of the children whose parents were exposed to the reform. The primary mechanisms through which EM operates appear to involve the preservation of offenders’ ties to the labor market, by reducing the barriers to both finding a job and changing employers. Our calculations suggest that the social benefits stemming from EM are about seven times larger than the fiscal savings associated with reduced prison expenditures, implying that the welfare gains from EM could be much greater than previously acknowledged
Recent Demographic Trends in France: A Singular Position in the European Union
No full textInternational audienceOn 1 January 2024, the population of France was 68.4 million, 230,000 more than on 1 January 2023. Natural increase fell to its lowest level since the Second World War, and since 2018, net migration has been the main driver of population growth. France is the second most populous country in EU-27 (15.2% of the EU population). Its population is growing slightly more slowly and is slightly younger than the European average but is ageing more rapidly.In 2022, inflows from third countries increased, reaching their highest level since 2000 (282,957 people). The year was marked by a sharp increase in admissions for employment reasons (+4 percentage points) and a growing share of females in inflows (+15 points). France ranked 5th in Europe for migration inflows but ranked 21st if population size is taken into account.In 2023, the historic decrease in births reflects the decline in fertility (1.67 children per woman), which fell to its lowest level since the Second World War. All age groups were concerned. The profile of age-specific fertility rates in France is similar to that of other countries of Western and Northern Europe, and in 2023 the share of non-marital births was the highest in Europe (65.2%).Abortion numbers increased for the second consecutive year in 2023, and 8 in 10 abortions were medication-induced. Relative to the number of women aged 15–49 in the population, France, alongside Sweden, had Europe’s highest abortion rate in that year but was also one of the countries with the fewest restrictions on access to abortion.The number of marriages increased very slightly in 2023, as did the number of civil partnerships (PACS unions), but only partially made up for the shortfall linked to the COVID-19 pandemic. The share of same-sex PACS unions and marriages remained relatively stable in 2023 and, with the steady increase in mean age at marriage, France moved closer to the pattern in Southern and Western Europe, where marriage is later than in Eastern Europe.While the number of deaths fell between 2020 and 2023, it remained above prepandemic levels (2019). Life expectancy, on the other hand, was higher in 2023 than in 2019 for both sexes, although the rebound in France was smaller than that observed in some other European countries. Compared with other EU countries, mortality in France remained relatively low at the most advanced ages, although the country performed much less well for infant mortality and its lag increased. The gender gap in mortality was above the European average but decreasing steadily. While deaths from cardiovascular diseases dominate in Europe, cancers were the leading cause of death in France in 2023
Revoir la notation des élèves
No full textInternational audiencePour améliorer le système scolaire, il faut revoir le système d’évaluation. Aujourd’hui, la note informe l’enfant et ses parents. Elle récompense ou sanctionne. Surtout, elle classe et elle fige. La passion pour la notation numérique, centrée sur la moyenne, nourrit trop d’effets pervers. Il importe d’innover en distinguant les fonctions de communication et de classement
De nouveaux chantiers pour l’histoire de la protection sociale ?
No full textInternational audiencePour compléter ce dossier de la RFAS consacré à l’histoire de la protection sociale, il a été jugé utile de proposer un regard prospectif sur trois champs de recherche aujourd’hui en plein essor et encore peu développés dans le domaine de la protection sociale mais appelés sans nul doute à renouveler les problématiques et à enrichir nos connaissances en la matière. Ont été retenus le « genre », les « générations » et la « question coloniale ». Dans ce but, Bruno Valat a interrogé trois spécialistes de ces questions, respectivement une politiste (Sandrine Dauphin), un économiste (André Masson) et un historien (Antoine Perrier)
A blueprint for a coordinated minimum effective taxation standard for ultra-high-net-worth individuals
No full textThis report presents a proposal for an internationally coordinated standard ensuring an effective taxation of ultra-high-net-worth individuals. In the baseline proposal, individuals with more than 200-100-$140 billion; (iv) this international standard would effectively address regressive features of contemporary tax systems at the top of the wealth distribution; (v) it would not substitute for, but support domestic progressive tax policies, by improving transparency about top-end wealth, reducing incentives to engage in tax avoidance, and preventing a race to the bottom; (vi) its economic impact must be assessed in light of the observed pre-tax rate of return to wealth for ultra-high-net-worth individuals which has been 7.5% on average per year (net of inflation) over the last four decades, and of the current effective tax rate of billionaires, equivalent to 0.3% of their wealth