Arnaud Deseau*, Léo Reitzmann**

Internal seminars
phd seminar

Arnaud Deseau*, Léo Reitzmann**

UCLouvain*, PSE**
The most important event? The long-run impact of the dissolution of French monasteries*
'Bad’ oil, ’worse’ oil and carbon misallocation**

IBD Amphi

Îlot Bernard du Bois - Amphithéâtre

5-9 boulevard Maurice Bourdet
13001 Marseille

Tuesday, January 10 2023| 11:00am to 12:30pm

Camille Hainnaux: camille.hainnaux[at]
Daniela Horta Saenz: daniela.horta-saenz[at]
Jade Ponsard: jade.ponsard[at]
Nathan Vieira: nathan.vieira[at]


*This paper uses the confiscation and auction of monastic properties that occurred during the French Revolution to assess the effects of land reallocation on agricultural productivity. To proxy for monastic landholdings, I collect and combine data on the annual income and location of more than 1,500 monasteries in year 1768. I perform several cross-checking analyses and demonstrate the validity of the data to proxy monastic landholdings. I show that arrondissements with greater land reallocation experienced higher levels of agricultural productivity in the mid-19th century. I trace these increases in productivity to greater land consolidation, land inequality and more efficient tenure practices. 

**Not all barrels of oil are created equal: their extraction varies in both private cost and carbon intensity. Using a rich micro-dataset on World oil fields and estimates of their carbon intensities and private extraction costs, this paper quantifies the additional emissions and costs from having extracted the ’wrong’ deposits. We do so by comparing historic deposit-level supplies to counterfactuals that factor in pollution costs, while keeping annual global consumption unchanged. Between 1992 and 2018, carbon misallocation amounted to at least 10.02 GtCO2 with an environmental cost evaluated at US$ 2 trillion (US$ 2018). This translates into a significant supply-side ecological debt for major producers of dirty oil. Looking towards the future, we estimate the gains from making deposit-level extraction socially-optimal, and document the very unequal distribution of the subsequent stranded oil reserves across countries.