Portail HAL Paris School of Economics (PSE)
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Choix d’âge de départ en retraite et emploi des seniors en France : que nous ont appris les réformes passées ?
No full textInternational audienceDepuis plus de 30 ans, des réformes du système de retraite français ont permis d’assurer sa soutenabilité financière dans un environnement démographique changeant. En plus de la pérennité des retraites à la française, elles ont réduit l’exclusion prématurée des seniors de l’emploi. Cet article vise à remettre en perspective ces deux résultats, sur la base des réformes des retraites en France. Premièrement, le recul de l’âge du taux plein crée un premier dividende en réduisant le nombre de retraités et en augmentant le nombre de cotisants au-delà de l’âge du taux plein, diminuant une première fois les déficits des caisses de retraite. Deuxièmement, le recul de l’âge de la retraite « cause » un accroissement de l’emploi des seniors avant l’âge du taux plein et augmente donc le nombre de cotisants, ce qui génère alors un second dividende pour les caisses de retraite et pour l’ensemble de l’économie. Pour reculer l’âge effectif de départ en retraite, on montre que les mesures incitatives telles que des surcotes sont un instrument puissant pour un recul volontaire de l’âge de la retraite, et non imposé comme dans le cas du recul de l’âge légal. Les effets positifs du recul de l’âge de la retraite sur l’emploi des seniors sont fragiles car ils reposent sur l’absence de mesures qui viendraient briser l’anticipation d’un allongement de l’horizon de travail des seniors, telles que les différentes mesures spécifiques aidant au non-emploi en fin de cycle de vie
The energy transition: some insights into the challenges, obstacles and conditions for success
No full textInternational audienceThe energy transition aims to respond to an environmental constraint linked to the depletion of our carbon budget, which is responsible for climate change. This transition is complex and costly, but it is necessary. Climate scientists agree that the short-term costs of the transition are disproportionate to its future benefits; in other words, the costs of action are significant, but the costs of inaction in the face of climate change are likely to be insurmountable. An energy transition is therefore urgently needed, with three main objectives: carbon neutrality, by decoupling GDP growth from CO2 emissions; industrial competitiveness, by stimulating new forms of lower-emissions economic activity; and, finally, a fair distribution of costs. The aim of this note is to highlight these objectives, to shed light on the role of the key actors and their responsibilities, to underline the potential opportunities that could be exploited and, finally, to propose some measures to overcome the obstacles
Matter matters: Efficient recycling policies under tight markets for scrap
No full textInternational audienc
Nature, culture and inequality. A comparative and historical perspective
No full textInternational audienceIn this unique work, Thomas Piketty presents a synthesis of his historical and comparative research on inequality. He challenges the idea that there could be natural inequalities and shows that the march toward equality has always depended on political and social struggles, addressing diverse topics such as: education, inheritance, the climate crisis, the taxation of wealth, and gender disparities. Adapted from Piketty’s 2022 lecture at the Musée du Quai Branly – Jacques Chirac, Nature, Culture, and Inequality makes his important argument available to a wider audience for the first time. With a clear, conversational tone, he provides a strong foundation of data and concrete examples of how we can continue to level the playing field
La Super League : une « américanisation » du football européen ?
No full textL’idée d’un championnat regroupant les plus grands clubs européens n’est pas nouvelle. Décryptage de l’économie du soccer aux États-Unis et perspectives pour le football européen
Mesurer la pauvreté : du revenu au ressenti. Contributions aux approches subjective et multidimensionnelle de la pauvreté
No full textIn this thesis, I combine objective and subjective approaches to poverty to examine poverty thresholds, their determinants, and the overlap between monetary and multidimensional poverty. My relative approach aims to identify populations that stand out due to their perception of their situation, practices, or treatment, aligning with the definition of poverty as social exclusion rather than merely low income. I use longitudinal data and variables to quantify subjective experiences such as life satisfaction, financial situation, housing, feelings of social exclusion, and self-reported health status, comparing these with the objective definition of poverty based on living standards relative to median income.My work focuses mainly on France, with a comparative study in Chapter 1 between France and other countries (Germany, the UK, Australia) with similar monetary poverty rates. In Chapters 1 and 3, I explore new ways to define poverty using self-reported well-being (Chapter 1) and individual preferences (Chapter 3), addressing economic vulnerability and the accumulation of deprivations. Chapter 2 quantitatively addresses the relative importance of the determinants of social exclusion in France, testing whether they are objective or linked to the perception of social benefits.The three essays in the thesis aim both to deepen the understanding of poverty through individual experiences and to propose indicators for public policy. The thesis advocates for a combined approach to monetary and non-monetary dimensions of poverty, suggesting a distinction between extreme poverty and economic vulnerability, and a multidimensional indicator for deprivation accumulation. It also calls for a broader debate on the social justice concepts underlying poverty indicators.Dans cette thèse, je combine les approches objective et subjective de la pauvreté afin d’apporter un éclairage nouveau sur le choix du seuil de pauvreté, ses déterminants et le recoupement entre pauvreté monétaire et multidimensionnelle. Mon approche est relative, cherchant à identifier une population marginalisée dans son appréciation ou son traitement, en lien avec la pauvreté perçue comme exclusion sociale, et pas seulement comme faibles revenus. J’utilise des données longitudinales de plus en plus détaillées, incluant des variables subjectives sur le vécu des individus, pour confronter la définition objective de la pauvreté avec la satisfaction de vie, le sentiment d’exclusion ou l’auto-évaluation de la santé. Mon approche, à la fois inductive et interdisciplinaire, mobilise des outils d’économie et de sociologie.Mes travaux portent principalement sur la France, à l’exception du chapitre 1 qui compare la France à d’autres pays (Allemagne, Royaume-Uni, Australie) ayant des taux de pauvreté similaires. Dans les chapitres 1 et 3, j’examine la pauvreté subjective à travers le bien-être ressenti, pour remettre en question le seuil de pauvreté monétaire et calibrer un indicateur multidimensionnel selon les préférences individuelles. Ces contributions proposent une nouvelle manière de définir la pauvreté, vue soit comme vulnérabilité économique, soit comme cumul de privations, dans la tradition d’identification de la pauvreté de (Sen, 1979). Chaque approche est discutée à la lumière de ce qu’elle apporte aux politiques publiques. Le chapitre 2 s’attache à quantifier les déterminants objectifs et subjectifs du sentiment d’exclusion sociale en France. En comparant ces résultats, je mets en avant les dimensions non monétaires de la pauvreté qui, combinées aux bas revenus, nuisent à la participation sociale des individus.Cette thèse a une double visée : heuristique, en approfondissant la compréhension du phénomène de la pauvreté à partir du ressenti des individus, et opérationnelle, en proposant des indicateurs concrets pour orienter les politiques publiques. J’appelle à enrichir les indicateurs actuels en intégrant un double seuil de pauvreté (grande pauvreté et vulnérabilité économique) ainsi qu’un indicateur multidimensionnel permettant d’identifier le cumul des privations. Ces indicateurs devraient être discutés à la lumière des concepts de justice sociale et enrichis par l’expérience des personnes concernées
Flood risk information release: Evidence from housing markets around Paris
No full textInternational audienceThe article estimates flood risk perceptions by exploiting the different release dates of flood risk information around Paris from 2003 to 2012. This period is characterised by the absence of significant floods since 1955, making flood risk less salient. We apply a stacked event study to detailed property transaction data combined with geo-localised amenities. The results show that transaction prices for similar properties are 3-7% lower following the release of information if they are located in a flood risk zone, and that the effect persists, at least over the period we analyse. The results are robust to varying the control group to a neighbourhood at different distances from the flood risk boundary. The effect is more negative for flats on the ground floor. We find no evidence of sorting among buyers along different characteristics, in particular based on past exposure to flooding in their previous municipality. The results indicate a significant effect of flood risk information in a context where we can isolate it from the financial consequences of insurance cover and from flood damage per se
Natural versus artificial herd immunity: Is vaccine research investment always optimal?
No full textInternational audienceUnder the threat of a rapid expanding virus like the 2020 COVID-19, policy-makers need to decide relatively fast whether and under which conditions to invest in a vaccine, and eventually adopt other protective measures like social distancing or lockdowns, or to wait for natural herd immunity. Taking into account that vaccines take time to be fully developed and effective, this paper considers a unified framework at the crossroad between economics and epidemiology to study optimal public spending in medical research to obtain a vaccine against an infectious disease evolving according to a SIR dynamics. We prove that developed economies always invest in the search of a vaccine. The more individuals care about consumption, the more they actually reduce their current consumption and the more they invest in the vaccine research program to recover their consumption potential at the earliest. Our model would only recommend economies with very poor technology to restrain from investment and wait for herd immunity
Compensating against fuel price inflation: Price subsidies or transfers?
No full textInternational audienceCompensating agents against substantial and sudden shocks requires both targeting tax policies and taking behavioral responses into account. Based on transaction-level data from France, this article exploits quasi-experimental variation provided by 2022 fuel price inflation and excise tax cuts. After disentangling anticipation from price effects, we estimate a price elasticity of fuel demand of -0.31, on average, which varies little with respect to income and location but substantially decreases with fuel spending, in absolute value. Using targeted transfers only achieves imperfect compensation, yet a budget-constrained policy-maker seeking to alleviate excessive losses relative to income prefers income-based transfers to price subsidies
Twenty Years of Job Quality in OECD Countries: More Good News?
No full textThe distribution of job quality across workers and the change in job quality over time can be reflected in various measures of job outcomes, or single-item job-satisfaction scores. This paper takes both approaches to establish the evolution of job quality over a period from the mid-1990s to the mid-2010s in 13 OECD countries, using data from the three latest ISSP Work Orientation modules. The rise in job satisfaction from 1997 to 2005 has continued through 2015, despite the 2008 Great Recession. This improvement is also found in most of the joboutcome domains, despite some evidence of harder and more stressful work. Workers reported that job security was the most-important job aspect every year, and the percentage of workers with secure jobs rose over time. There has been a small rise in the dispersion of job satisfaction, but the good news regarding better job quality over a 20-year period does not seem to be dampened by large changes in its inequality