Publications des institutions partenaires
The effect of corporate taxes on investment: evidence from the Colombian firms
The paper assesses the role of taxes on investment in Colombian firms. The analysis is carried out at the firm level for the period 2003-2014. During this period, the national government set five different tax reforms, including changes in the statutory tax rates, tax credits and incentives for corporate investment. The effect of corporate taxation on investment is estimated by first...
Institution partenaire
Institut de hautes études internationales et du développement
/ 29/05/2017
Follow-the-leader?: measuring the internationalisation of law
Expressive law is said to induce compliance with stated principles without a price on non-compliance. We empirically assess this proposition, by attempting to dis-entangle the impacts of a legal change (a 5p charge on use of plastic bags), on individual choices. We do so by measuring both behaviours and attitudes across the first two months of the legal change, and by comparing the...
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/03/2017
Weather and income : effect on household saving and well-being in South Africa
In countries where rain-fed agriculture constitutes a significant portion of household livelihood, increased weather variability represents a source of vulnerability to stable consumption, food security and household well-being. Weather induced income changes affect household consumption and saving decisions. We evaluate saving and consumption responses to weather variation in South...
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/03/2017
The centralization-decentralization issue
The make-up of the EU institutions, and their evolution, should explicitly be based on widely accepted federalism principles. This paper applies federalism principles to a few crucial questions, mainly fiscal policy, fiscal discipline and structural reforms, using where possible lessons from existing federations. After introducing the topic, Section 2 briefly reviews the key message...
Institution partenaire
Institut de hautes études internationales et du développement
/ 24/02/2017
A world without the WTO: what's at stake?
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/02/2017
The role of education in preventing and combating youth unemployment
Youth unemployment and disengagement from both education and work are negatively associated with levels of completed education and skill proficiency. Recent research highlights the importance of focusing on the quality of education and improving actual learning outcomes for all. Empirical findings show the central importance of preventive strategies targeted towards disadvantaged...
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/02/2017
The Folk Theorem of decreasing effectiveness of monetary policy: what do the data say?
It is increasingly claimed that unconventional monetary policies are subject to decreasing effectiveness in supporting growth and raising the inflation rate. There are good reasons to believe that the effects of further asset purchases by central banks and of moving the interest rate deeper in negative territory progressively decline. But has it been happening? This paper attempts to...
Institution partenaire
Institut de hautes études internationales et du développement
/ 22/12/2016
The elusive costs of sovereign defaults
Few would dispute that sovereign defaults entail significant economic costs, including, most notably, important output losses. However, most of the evidence supporting this conventional wisdom, based on annual observations, suffers from serious measurement and identification problems. To address these drawbacks, we examine the impact of default on growth by looking at quarterly data...
Institution partenaire
Institut de hautes études internationales et du développement
/ 12/09/2016
Capital account liberalization, financial development and industry growth: a synthetic view
This paper synthesizes previous studies analyzing the effects of capital account liberalization on industry growth while controlling for financial crises, domestic financial development and the strength of institutions. We find reasonably strong evidence that financial openness has positive effects on the growth of financially-dependent industries, although these growth-enhancing...
Institution partenaire
Institut de hautes études internationales et du développement
/ 09/09/2016
Eurozone crisis: it’s about demand, not competitiveness
Institution partenaire
Institut de hautes études internationales et du développement
/ 09/09/2016
Firm response to competitive shocks: evidence from Chinas minimum wage policy
The large regional variation of minimum wage changes in 2002—08 implies that Chinese manufacturing firms experienced competitive shocks as a function of firm location and their low-wage employment share. We find that minimum wage hikes accelerate the input substitution from labor to capital in low-wage firms, reduce employment growth, but also accelerate total factor productivity...
Institution partenaire
Institut de hautes études internationales et du développement
/ 24/08/2016
Saving China's stock market
What were the economic benefits and costs of preventing a stock market meltdown during the summer of 2015 by the Chinese government intervention? We answer this question by estimating the value creation for the stocks purchased by the government between the period starting with the market crash in mid-June and the market recovery in September. We find that the government intervention...
Institution partenaire
Institut de hautes études internationales et du développement
/ 24/08/2016
The IMF’s role in Greece in the context of the 2010 stand-by arrangement
In April 2010, Greece became the first euro area country to request financial support from the IMF. The IMF joined the European Commission (EC) and the European Central Bank (ECB)—thus constituting what informally came to be known as the troika—in providing emergency financing, with the Fund’s contribution taking the form of a €30 billion three-year Stand-By Arrangement (SBA)...
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Brexit Beckons: thinking ahead by leading economists
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Does ethnic diversity decrease economic interactions? Evidence from exchange networks in rural Gambia
Using a unique dataset collected in 59 rural Gambian villages, we study how ethnic heterogeneity is related to the structure of four economic exchange networks: land, labor, inputs and credit. We find that different measures of village-level ethnic fragmentation are mostly uncorrelated with network structure. At a more disaggregated level, household heads belonging to ethnic...
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Dynamic mean preserving spreads
We extend the celebrated Rothschild and Stiglitz (1970) definition of Mean Preserving Spreads to scalar diffusion processes. We provide sufficient conditions under which a family of diffusion processes satisfies the dynamic counterparts to the famous Rothschild and Stiglitz integral conditions. We prove that the only Brownian bridge with non-constant drift that displays the Dynamic...
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Testing for the best instrument to generate sustainable food consumption
The increase in the level of greenhouse gas (GHG) emissions in the atmosphere in the last centuries, and the subsequent increase in temperature, has been a widely studied area in the last few decades. Climate change has become a key item on the political agenda due to concerns regarding the sustainability of current human consumption for future generations. Consumption of food and...
Institution partenaire
Institut de hautes études internationales et du développement
/ 15/06/2016
Economic growth and agricultural land conversion under uncertain productivity improvements in agriculture
We study how stochasticity in the evolution of agricultural productivity interacts with economic and population growth, and the associated demand for food. We use a two-sector Schumpeterian model of growth, in which a manufacturing sector produces the traditional consumption good and an agricultural sector produces food to sustain contemporary population. In addition, sectors differ...
Institution partenaire
Institut de hautes études internationales et du développement
/ 15/06/2016
Do foreign demand shocks impact company sales in France?
An interaction can be observed between a company’s level of exports and its domestic sales. Estimates made using data on French companies show that a 10% increase (decrease) in exports is accompanied, in the same year, by a 1% to 3% increase (decrease) in domestic sales. This strong interaction between sales in different markets can result from short-term funding constraints that...
Institution partenaire
Institut de hautes études internationales et du développement
/ 30/05/2016
Global population growth, technology and Malthusian constraints: a quantitative growth theoretic perspective
We structurally estimate a two-sector Schumpeterian growth model with endogenous population and finite land reserves to study the long-run evolution of global population, technological progress and the demand for food. The estimated model closely replicates trajectories for world population, GDP, sectoral productivity growth and crop land area from 1960 to 2010. Projections from 2010...
Institution partenaire
Institut de hautes études internationales et du développement
/ 27/05/2016
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