Publications

Résumé In the microfinance sector, experienced lenders enjoy an information advantage over first-time entrepreneurs. Our study proposes an analysis of the business training provided on a par with microloans and its potential effect on borrowers’behavior. First, we present a simple theoretical mechanism showing that an information advantage concerning borrower risk can lead to a non-monotonic relationship between risk and business training provision. Second, using a hand-collected data set of loan applications to a French MFI, we empirically examine the relationship between business training provision and borrower risk, controlling for selection bias and endogeneity. The collected evidence supports the existence of a non-monotonic relationship and shows that business training significantly increases the survival time of loans. Our results are robust to alternative econometric models.
Mots clés Business training, Microcredit, Informed lender
Publication HAL Google Scholar
Résumé Abstract When vacancies are filled, the job ads often remain, creating phantom vacancies. Older listings more likely represent phantoms. We assume job seekers direct their search based on listing age. Forming a match with an age‐ a vacancy creates an age‐ a phantom with probability β and generates an externality affecting vacancies aged a and older. Thus, the externality decreases with the match's listing age. Relative to efficient behavior, job seekers overapply to younger listings. We calibrate using U.S. data. The contribution of phantoms to inefficiency is large, but, given their existence, the planner cannot improve much on the directed search allocation.
Publication HAL Google Scholar
Résumé Efficiency within the health system is well recognised as key for achieving Universal Health Coverage (UHC). However, achieving equity and efficiency simultaneously is often seen as a conflicting effort. Using 12 years of data (2003–2014) from the selection of a number of low- and lower middle-income countries (Afghanistan, Bangladesh, Burkina Faso, Ghana, Indonesia, Mongolia, Mozambique, Tajikistan, Togo, Uzbekistan and Yemen Republic), we compute an index of Universal health coverage (UHC), measure the health system’s performance (HSp) and, finally, investigate the cross-dynamics of the resulting HSp and the UHC previously obtained. We find that, with the few exceptions over the statistical sample, the causality between performances of the national health system and the universal health coverage is typically bidirectional. From an empirical standpoint, our findings challenge the idea from economic orthodoxy that efficiency must precede equity in healthcare services. Rather, our findings support the view of simultaneous efforts to improve expansion of the coverage and efficiency of the health system, directing attention towards the importance of organisation of the health system in the country context.
Publication HAL Google Scholar
Résumé This paper introduces a dataset that gathers information on whether and how Latin America and the Caribbean (LAC) have complied with or deviated from implemented fiscal rules. It provides annual data on fiscal rules for 14 LAC countries from 2000 to 2020, and it considers the design features of the rules and information about numerical compliance. It provides descriptive statistics reflecting the panorama of the fiscal rules implemented in LAC countries. Additionally, it calculates compliance rates across countries, years, and rules. On average, this study finds that compliance with rules aiming to constrain debt ratios and structural balances is the highest, while compliance with fiscal balance and expenditure rules is the lowest. Furthermore, the data collection process revealed that LAC countries still have room for discretion even when they subject their fiscal policy to rules. To address this problem, the paper proposes an adjusted compliance index that considers different elements that add degrees of discretion to the rule. The study finds that the numerical compliance rates of each country are likely to be overestimated once discretionary actions are accounted for.
Mots clés Latin America and the Caribbean National numerical fiscal rules, Fiscal policy, Compliance
Publication HAL Google Scholar
Résumé Background: Cooperation between general practitioners (GPs) and other healthcare professionals appears to help reduce the risk of polypharmacy-related adverse events in patients with multimorbidity. Objectives: To investigate GPs profiles according to their opinions and attitudes about interprofessional cooperation and to study the association between these profiles and GPs’ characteristics. Methods: Between May and July 2016, we conducted a cross-sectional survey of a panel of French GPs about their management of patients with multimorbidity and polypharmacy, focussing on their opinions on the roles of healthcare professionals and interprofessional cooperation. We used agglomerative hierarchical cluster analysis to identify GPs profiles, then multivariable logistic regression models to study their associations with the characteristics of these doctors. Results: 1183 GPs responded to the questionnaire. We identified four profiles of GPs according to their declared attitudes towards cooperation: GPs in the ‘very favourable’ profile (14%) were willing to cooperate with various health professionals, including the delegation of some prescribing tasks to pharmacists; GPs in the ‘moderately favourable’ profile (47%) had favourable views on the roles of health professionals, with the exception for this specific delegation of the task; GPs from the ‘selectively favourable’ profile (27%) tended to work only with doctors; GPs from the ‘non-cooperative’ profile (12%) did not seem to be interested in cooperation. Some profiles were associated with GPs’ ages or participation in continuing medical education. Conclusion: Our study highlights disparities between GPs regarding cooperation with other professionals caring for their patients and suggests ways to improve cooperation.
Mots clés Multimorbidity, Polypharmacy, Interprofessional relations, Pharmacists, Nurse practitioners
Publication HAL Google Scholar
Résumé Declines in marriage and fertility rates in many developed countries have fostered research debate and increasing policy attention. Using longitudinal data from the German Socio-Economic Panel, we analyze the effects of exposure to globalization on fertility and marital behavior in Germany, which was a lowest-low fertility setting until recently. We find that exposure to greater import competition from Eastern Europe led to worse labor market outcomes and lower fertility rates. In contrast, workers in industries that benefited from increased exports had better employment prospects and higher fertility. These effects are driven by low-educated individuals, married men, and full-time workers and reflect changes in the likelihood of having any child (the extensive margin). We find evidence of some fertility postponement and significant effects on completed fertility, but we see little evidence of a significant impact on marital behavior. Our results inform the public debate on fertility rates in settings with lowest-low fertility, such as Germany, during the period under investigation.
Mots clés Marriage, Fertility, Labor mar ket out comes, Globalization
Publication HAL Google Scholar
Résumé This paper examines the impact of exchange-rate regime change on the price disparity of China’s dual-listed stocks. We use four years of synchronous intraday data of 26 pairs of dual-listed RMB-denominated A-shares and their corresponding HKD-denominated H-shares. The sample period covers the 2005 and 2008 changes in the exchange rate regime. During that time, the Chinese authorities strictly prohibited short selling of stocks and tightly regulated capital flows. In contrast to the existing general findings, we find that the law of one price can be strengthened for dual-listed stocks (DLSs) in segmented capital markets under a flexible exchange rate regime; the disparity between the DLSs is reduced under the managed float compared to the pegged regime. Moreover, we find that the magnitude of the H-share discount is positively related to the expected RMB appreciation under managed float; however, under the pegged regime the relationship is negative.
Mots clés Alternate exchange rate regime, Quasi arbitrage, Market segmentation, Dual-listed stocks, H-share discount
Publication HAL Google Scholar
Résumé We empirically examine the effectiveness of EU Border carbon adjustment (BCA) in the context of BRI, by developing a hypothetical BCA scheme based on a multi-regional Input-Output model. We use various evaluation criteria such as sectoral coverage, economic condition of trade partners, compliance with trade regulations, and selection of Best Available Technology (BAT). Our analysis shows that the EU-BCA scheme covers 44% of the global traded emissions, of which 84% are generated in the BRI regions. However, the BAT principle and trade provisions reduce the coverage of BCA emissions for BRI regions, while assumptions about the carbon intensity of imports result in a further reduction. Our findings both cast serious doubt on BCA's ability to drive industrial decarbonisation and alleviate domestic producers' competitiveness concerns, and support the argument that EU-BCA may level the playing field for the EU's domestic market but may not address competitiveness concerns in other (non-EU) markets.
Mots clés Multi-regional input-output MRIO, Border carbon adjustment BCA, Belt and road initiative BRI, Climate policy, International trade
Publication HAL Google Scholar
Résumé Through a series of experiments, this paper tests the relative efficiency of persuasion and commitment schemes to increase and sustain contribution levels in a Voluntary Contribution Game. The design allows us to compare a baseline consisting of a repeated public good game to four treatments of the same game in which we successively introduce a persuasion message, commitment devices, and communication between subjects. Our results suggest that these non-monetary procedures significantly increase cooperation and reduce the decay of contributions across periods.
Mots clés Voluntary contribution mechanism, Commitment, Persuasion, Communication
Publication HAL Google Scholar