Portail HAL Paris School of Economics (PSE)
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The Household Demand for Leisure, the Price of Time and the Full Cost of Children: A Structural Model and Evidence from the PSID
No full textWe propose a novel approach to estimating the full cost of children -the sum of monetary and time costs -by endogenizing the price of parental time rather than assuming it is equal to the parents' wage rate. In this approach, the price of time depends on how parents perceive their time with children, whether as a leisure-like activity or more as a labor-like activity. We then develop a simplified collective model of leisure demand for working couples, incorporating individual preferences and childcare technology, and estimate it using 2019 PSID data. This allows us to recover the price of parental time and the full cost of children. We find that mothers perceive 44% of their childcare time as labor, compared to 35% for fathers. Our results also highlight that a substantial portion of the full cost of children is non-monetary.</div
Short and Simple Confidence Intervals When the Directions of Some Effects Are Known
No full textInternational audienceWe introduce adaptive confidence intervals on a parameter of interest in the presence of nuisance parameters, such as coefficients on control variables, with known signs. Our confidence intervals are trivial to compute and can provide significant length reductions relative to standard ones when the nuisance parameters are small. At the same time, they entail minimal length increases at any parameter values. We apply our confidence intervals to the linear regression model, prove their uniform validity, and illustrate their length properties in an empirical application to a factorial design field experiment and a Monte Carlo study calibrated to the empirical application
Aux origines d'une ambition
No full textInternational audienceThis text is the introduction of the book. It presents its main purpose and its historiographical context in the various disciplines involved.Ce texte est l'introduction de l'ouvrage dont il présente les objectifs et le contexte historiographique dans plusieurs disciplines impliquées
The Economics of Nation-Building: Methodological Tool Kit and Policy Lessons
No full textInternational audienceThis article reviews the recent burgeoning political economics research on nation-building. We focus on three main aspects of this body of work. First, we discuss methodological issues related to measuring nation-building outcomes and provide a synthesis of studies that employ different techniques, such as surveys on identity, lab-in-the-field methods, and direct observation of actions signaling identity. Second, we explore preconditions for effective nation-building, particularly focusing on ethnolinguistic polarization and segregation, and discuss how these factors may influence policy choices and their effectiveness. We also consider geopolitical factors. Finally, we review advances in the literature evaluating the effects of major nation-building policies, including those that encourage intergroup contact, the choice of national education curricula, propaganda, leadership, decentralization, and foreign interventions. We highlight instances in which these policies work or backfire
On the convergence criterion in three-period lived overlapping generations models
No full textInternational audienceThis paper offers a novel perspective on Kehoe-Levine’s convergence criterion for equilibrium determinacy in three-period overlapping generations (OLG) models. Departing from their primary focus on gross substitutability, our central contribution is demonstrating that equilibrium determinacy, even in Samuelson economies, can be achieved under market complementarities, provided the aggregate demand sensitivities to adjacent-period prices sum positively. Furthermore, we identify critical conditions where gross substitutability or complementarities between goods spaced two periods apart becomes pivotal for equilibrium determination. By elucidating the role of asymmetric complementarities, we significantly extend the understanding of equilibrium determinacy within the Kehoe-Levine framework, challenging the necessity of strict gross substitutability and offering a more nuanced view of dynamic stability in OLG models
Inequality and optimal monetary policy in the open economy
No full textInternational audienceWe study optimal monetary policy in a tractable Small Open Economy Heterogeneous-Agent New Keynesian (SOE-HANK) model in which households face uninsured idiosyncratic risk and unequal bond-market access. We derive conditions under which optimal policy in our SOE-HANK economy entails domestic producer price stability, extending the ”open-economy divine coincidence” result of Galí and Monacelli (2005) beyond the Representative-Agent benchmark (SOE-RANK). Away from those conditions, inefficient fluctuations in consumption inequality generate monetary policy tradeoffs. Under plausible calibrations for the trade elasticities, the elasticity of intertemporal substitution, and the cyclicality of income risk, the central bank stabilizes output and the exchange rate more than in SOE-RANK
Minimum pricing or volumetric taxation? Quantity, quality and competition effects of price regulations in alcohol markets
No full textReforming alcohol price regulations in wine-producing countries is challenging, as current price regulations reflect the alignment of cultural preferences with economic interests rather than public health concerns. We evaluate and compare the impact of counterfactual alcohol pricing policies on consumer behaviors, firms, and markets in France. We develop a micro-founded partial equilibrium model that accounts for consumer preferences over purchase volumes across alcohol categories and over product quality within categories, and for firms' strategic price-setting. After calibration on household scanner data, we compare the impacts of replacing current taxes by ethanol-based volumetric taxes with a minimum unit price (MUP) policy of C0.50 per standard drink. The results show that the MUP in addition to the current tax outperforms a tax reform in reducing ethanol purchases (-15% vs. -10% for progressive taxation), especially among heavy drinking households (-17%). The MUP increases the profits of small and medium wine firms (+39%) while decreasing the profits of large manufacturers and retailers (-39%) and maintaining tax revenues stable. The results support the MUP as a targeted strategy to reduce harmful consumption while benefiting small and medium wine producers. This study provides ex-ante evidence that is crucial for alcohol pricing policies in wine-producing countries
Social cues for experimenter incompetence influence choice blindness
No full textInternational audienceChoice blindness refers to a surprising blind spot we have about choices made only seconds ago. After making a choice between two items, observers presented with the unchosen item may fail to report the incongruence, and even provide justifications for a choice they did not make. Here, we show that this effect is modulated by participant’s perception of the reliability of the environment. In three experiments, we introduced cues about the competence or incompetence of experimenters, either during or before the traditional choice blindness phase. When manifest reliability of the experimenter decreased, participants were more likely to report the mismatch between the chosen item and the item presented to them. Our results reinforce the notion that choice blindness is a context-dependent phenomenon, permeable to social cues in the context of psychological experiments. Dataset and the analysis scripts are available at the Open Science Foundation at: https://osf.io/ht769/
Réforme du salaire journalier de référence et trajectoires professionnelles
No full textLa réforme du salaire journalier de référence est entrée en vigueur le 1er octobre 2021 dans le cadre d’une refonte globale de l’Assurance chômage en France. Pour les demandeurs d’emploi ayant alterné périodes travaillées et de non-travaillées avant d’accéder à une indemnisation, cette réforme allonge la durée maximale des allocations chômage tout en en réduisant le montant.Cette étude évalue l’impact de cette réforme sur les trajectoires professionnelles, en tenant compte de l’exposition hétérogène des individus à la réforme. Celle-ci dépend directement du temps passé sans emploi entre le premier et le dernier jour travaillé au cours des deux dernières années
Small amendment arguments: how they work and what they do and do not show
No full textInternational audienceThe small improvement argument has been said to establish that the standard weak preference or value relation can be incomplete. We first show that the argument is one of three possible ‘small amendment arguments’, each of which would yield the same conclusion. Generalizing the analysis thus, we subsequently present a strong and a weak version of small amendment arguments and derive the exact rationality conditions under which they reveal incompleteness. The results show that the arguments (in any of their variants) need not reveal a problem for the possibility of rational choice. In fact, it can be argued that they only reveal such a problem if the underlying relation is complete rather than incomplete