Portail HAL Paris School of Economics (PSE)
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Academic publishing and open access. What does economics teach us?
No full textWe review the literature on the academic publishing sector with a particular focus on the questions raised by open access. Dwelling on insights from the literatures on two-sided markets and certification, we discuss the various options to promote open access as well as possible policies to regulate the publishing market
Intergeneration Human Capital Transmission and Poverty Traps
No full textWe use an overlapping generations model to investigate the role of parental health investment and children's schooling on the aggregate level of human capital and inequality. In our model, parental longevity affects children's human capital since it impacts human capital transmission. When poor parents cannot afford to invest in health, poverty traps may arise as human capital levels remain low in the long run. Both health costs and public school quality are crucial in determining whether households fall into the poverty trap. We demonstrate that high-quality schools ensure that successive generations become more educated, eventually attaining a higher human capital steady state. However, public health investments are particularly effective, as they affect household income and schooling and allow for human capital transmission through generations. We calibrate our model for Brazil and Chile and show that our model predicts that a poverty trap will arise in Brazil but not in Chile
Tax Revenue from Pillar One Amount A: Country-by-Country Estimates
No full textThis paper presents simulations of the tax revenue arising from the Pillar One Amount A proposal of the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting. Amount A aims at revising taxing rights on multinational enterprises with at least e20 billion in revenue and with profitability above 10%. We consider the latest available Amount A rules and use a variety of databases (Forbes 2000 list of largest companies, Orbis database, OECD AMNE data, OECD CbCR data). In a first step, we identify the MNEs that would be covered by Amount A. Then, we approximate the destination-based revenues of MNEs in different jurisdictions, to determine reallocated profits. In a final step, we account for double taxation relief to obtain the net revenue from Amount A. We find that the total amount of additional tax revenue arising from Amount A is around e15.6 billion. We provide detailed country-specific estimates and a comparison to digital taxes. The extent of taxing rights redistribution induced by Amount A is affected by (a) the inclusion criteria of covered MNEs; (b) the reallocation parameter of 25%
Unaware Corporate Social Responsibility: Impact of Firm Size, Motivations and External Pressures
No full textWe explore differences in firms' attitudes toward corporate social responsibility (CSR). Using a unique dataset covering 8,857 French firms, collected by the National Institute of Statistics and Economic Studies (INSEE), we identify firms conducting conscious CSR and others with effective but unaware CSR activities. We then construct three CSR pillar scores for each firm, using Mokken scale analysis, a form of non-parametric item response analysis. The CSR scores, along with responses to specific questions, allow us to characterize firms that implement conscious or unaware CSR. We then estimate simple probit and count data models to show that a significant share of firms are in fact significantly engaged in unaware CSR, with no monotonic size effect. Cooperation with external actors such as NGOs mitigates the effect of firm size on the likelihood of conducting unaware CSR, while the effect of NGO campaigns against large firms is mainly to increase the environmental score of small firms in the same industry
Lobbying or Innovation: Who Does What Against Foreign Competition
No full textThis paper studies the relationship between competition and firms' political influence. I use the China shock identification strategy to assess the impact of rising imports over the last two decades on US corporate lobbying. The empirical results are the following i) the increase in foreign competition has brought firms to increase their lobbying effort by approximately 35 percent per four-year period, ii) results are heterogeneous and the increase is focused on low productivity firms, iii) this increase does not target trade policies specifically but rather a variety of topics contributing to firms' competitiveness. I comment two mechanisms: First, firms for which innovation is too expensive naturally increase their lobbying effort in proportion to the threat of competition, and second differentiation (though innovation) and exit concentrate the lobbying effort on fewer firms, helping to decrease free-riding
The Global Transmission of U.S. Monetary Policy
No full textUS monetary policy shapes economic conditions globally due to the dominant role of the dollar in the world economy. We study the propagation of US monetary policy shocks abroad using a state-of-the-art high-frequency identification and a harmonised dataset covering 30 economies and over 150,000 datapoints. A policy tightening has large contractionary effects on both advanced and emerging economies. The propagation via financial variables limits foreign central banks' control over domestic economic conditions by increasing risk premia and by destabilising the medium-long segment of the yield curve. The responses of headline prices abroad are instead shaped by spillovers via commodity markets
From Evolutionary Biology to Economics and Back: Parallels and Crossings between Economics and Evolution
No full textInternational audienceThis book offers a comprehensive exploration of the major key concepts common to economics and evolutionary biology. Written by a group of philosophers of science, biologists and economists, it proposes analyses of the meaning of twenty-five concepts from the viewpoint respectively of economics and of evolutionary biology –each followed by a short synthesis emphasizing major discrepancies and commonalities. This analysis is surrounded by chapters exploring the nature of the analogy that connects evolution and economics, and chapters that summarize the major teachings of the analyses of the keywords. Most scholars in biology and in economics know that their science has something in common with the other one, for instance the notions of competition and resources. Textbooks regularly acknowledge that the two fields share some history – Darwin borrowing from Malthus the insistence on scarcity of resources, and then behavioral ecologists adapting and transforming game theory into evolutionary game theory in the 1980s, while Friedman famously alluded to a Darwinian process yielding the extant firms. However, the real extent of the similarities, the reasons why they are so close, and the limits and even the nature of the analogy connecting economics and biological evolution, remain inexplicit. This book proposes basis analyses that can sustain such explication. It is intended for researchers, grad students and master students in evolutionary and in economics, as well as in philosophy of science
Matter matters: Efficient recycling policies under tight markets for scrap
No full textInternational audienc
Globalisation, taxation and inequality
No full textInternational audienceToday's tax systems, in which value‐added taxes and payroll taxes play a prominent role, are largely creations of the 1950s. We need to invent modern tax systems adapted to the reality of the 21 st century: the growing importance of capital and the rise of inequality. This article reviews some of the challenges involved with increasing the progressivity of tax systems in a globalised world and discusses how these challenges could be overcome. I make the case for new and more ambitious forms of international cooperation and for modern forms of wealth taxation
Questions on Cost-Benefit Analysis and a Discussion of Present Answers: How Should One Determine the Social Discount Rate to Be Announced?
No full textInternational audienceIn the wake of the CBA used for public investment programming in France, new recommendations have been formulated for projects whose advantages (costs or benefits) are exposed to macroeconomic risks (correlation with GDP per capita), distinguishing between classically Gaussian hazards and “rare disasters” à la Barro. Taking rare disasters into account significantly modifies the value of the discount rate, along with the mathematical expectation of the advantages, and accentuates the distinction between procyclical and counter-cyclical projects