Publications

La plupart des informations présentées ci-dessous ont été récupérées via RePEc avec l'aimable autorisation de Christian Zimmermann
Statistical Methods for Distributional AnalysisBook chapterFrank A. Cowell et Emmanuel Flachaire, A.B. Atkinson et F. Bourguignon (Eds.), 2015-11, Volume 2A, Ch.6, pp. 359-465, Elsevier, 2015

This Chapter is about the techniques, formal and informal, that are commonly used to give quantitative answers in the field of distributional analysis - covering subjects including inequality, poverty and the modelling of income distributions. It deals with parametric and non-parametric approaches and the way in which imperfections in data may be handled in practice.

A Comparison of the Fed’s and ECB’s Strategies during the Subprime CrisisBook chapterMarcel Aloy et Gilles Dufrénot, W. A. Barnett et F. Jawadi (Eds.), 2015-07, Volume 24, pp. 419-449,Chapitre12, Emerald Group Publishing Limited, 2015

Abstract This chapter proposes a comparative analysis of the monetary policies undertaken by the Federal Reserve Board and the European Central Bank after the 2008 subprime crisis. We point out the twin nature of the financial crises in Europe in comparison with the US crises: in addition to the role of bank funding, the euro area countries have also experienced a structural problem of balance of payment disequilibria. This explains why in the early stages of the subprime crisis, the Fed has succeeded in tackling the illiquidity problems facing the banking sector, while the ECB did not. The Fed could then focus on tackling the recession in the real sector by adopting quantitative easing policies to exert downward pressure on the long-term interest-rate. In the euro area quantitative easing policies came later, in 2013. Even the forward guidance policies have been different between the two central banks. Unlike the ECB, the Fed has gone through diverse forward guidance policies: qualitative, calendar-based, and state-contingent. The chapter proposes a new survey of the monetary policies after the subprime crisis by comparing two strategies in different contexts: the United States and the euro area.

World trade and income remain exposed to gravityBook chapterHubert Escaith et Sébastien Miroudot, 2015-06, Number Chapitre 7, pp. 127-160, Bernard Hoekman, 2015

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The Empirics of Agglomeration EconomiesBook chapterPierre-Philippe Combes et Laurent Gobillon, G. Duranton, J. V. Henderson et W. Strange (Eds.), 2015-05, Volume 5A, pp. 247-348, 2015

We propose an integrated framework to discuss the empirical literature on the local determinants of agglomeration effects. We start by presenting the theoretical mechanisms that ground individual and aggregate empirical specifications. We gradually introduce static effects, dynamic effects, and workers’ endogenous location choices. We emphasize the impact of local density on productivity, but we also consider many other local determinants supported by theory. Empirical issues are then addressed. The most important concerns are about endogeneity at the local and individual levels, the choice of a productivity measure between wages and total-factor productivity, and the roles of spatial scale, firms’ characteristics, and functional forms. Estimated impacts of local determinants of productivity, employment, and firms’ location choices are surveyed for both developed and developing economies. We finally provide a discussion of attempts to identify and quantify specific agglomeration mechanisms.

Conflicts in Decision MakingBook chapterRitxar Arlegi et Miriam Teschl, Constanze Binder, Giulio Codognato, Miriam Teschl et Yongsheng Xu (Eds.), 2015-05, pp. 11-29, Springer Berlin Heidelberg, 2015

Following Nick Baigent’s argument that one must go “behind the veil of preference” (Baigent, Jpn Econ Rev 46(1):88–101, 1995) to be able to develop a satisfactory theory of rational behaviour, we propose to analyse potential intrapersonal conflicts caused by different reasons, goals or motivations to choose one option over another, which may make the development of a coherent preference impossible. We do this by presenting an extensive, but certainly not exhaustive overview of psychological research on intrapersonal conflict, its influence on preference reversal (and hence on incoherent behaviour), on psychological well-being and on motivational and behavioural changes over time. We then briefly describe our own theory of choice under conflicting motivations (Arlegi and Teschl, Working Papers of the Department of Economics DT 1208, Public University of Navarre, 2012), which is a first attempt at putting psychological insights into intrapersonal conflict into an axiomatic economic context.

An Interview with Nick BaigentBook chapterConstanze Binder, Miriam Teschl et Yongsheng Xu, Constanze Binder, Giulio Codognato, Miriam Teschl et Yongsheng Xu (Eds.), 2015-05, pp. 365-377, Springer Berlin Heidelberg, 2015

The interview was conducted by Constanze Binder (CB) Miriam Teschl (MT) and Yongsheng Xu (YX) via email over a period of a few weeks in the Summer/Fall of 2014.

La musique à l’heure de l’Internet : du patrimoine aux communs ?Book chapterJean-Benoît Zimmermann, B. Coriat (Eds.), 2015-05, Les Liens qui Libèrent, 2015

Jean-Benoît Zimmermann s’intéresse à la licence creative commons, devenue le support juridique du commun musical sur l’Internet. L’auteur établit un lien entre les innovations techniques (l’apparition puis la miniaturisation des technologies de l’enregistrement) et les réponses institutionnelles autour de l’appropriation, ou au contraire de la diffusion libre des œuvres musicales. L’industrialisation des systèmes d’enregistrement a vu naître le modèle du star system qui a assimilé la valeur sociale et la valeur marchande de l’œuvre. Mais la réduction du coût du matériel d’enregistrement et de diffusion a fait basculer ce modèle vers celui de l’économie de l’attention, où l’artiste – de plus en plus autoproduisant –, cherche à se placer sur une niche musicale face à des consommateurs exigeants. La licence creative commons se présente comme une innovation juridique dressée contre le copyright, qui permet à l’artiste de décider – au sein de ce nouveau contexte technico-économique — de la manière dont il souhaite « partager » sa création. Il ne s’agit pas d’un renoncement à ses droits, mais d’une autre façon de reconnaître la valeur du créateur musical. La propriété est plus diffuse et la richesse créée ne l’est plus directement de l’œuvre mais du capital réputationnel qu’en tire son auteur. Tout comme pour les logiciels libres, cette nouvelle forme de propriété interroge la capacité des créateurs d’œuvres musicales à construire un modèle économique fiable contre celui du copyright. Zimmermann effleure le problème, notamment avec l’initiative de la plateforme Jamendo. Il s’agit d’une plateforme de musique libre en ligne qui permet à de jeunes artistes de se faire connaître, mais sans doute pas de vivre de leur créativité. Pourtant, comme le conclut Zimmermann, sans une capacité des artistes à viabiliser le nouveau modèle économique généré par le creative commons, les majors du star system pourraient le réquisitionner dans le but de « tester » de nouveaux artistes dont les œuvres suivantes seraient réintégrées dans le modèle du copyright, permettant aux majors de l’industrie musicale de s’approprier de meilleures rentes avec l’appui involontaire du creative commons.

Complex Financial Networks and Systemic Risk: A ReviewBook chapterSpiros Bougheas et Alan Kirman, In: Dynamic Modeling and Econometrics in Economics and Finance, Pasquale Commendatore, Saime Kayam et Ingrid Kubin (Eds.), 2015-01, Number 19, pp. 115-139, Springer International Publishing, 2015

In this paper we review recent advances in financial economics in relation to the measurement of systemic risk. We start by reviewing studies that apply traditional measures of risk to financial institutions. However, the main focus of the review is on studies that use network analysis paying special attention to those that apply complex analysis techniques. Applications of these techniques for the analysis and pricing of systemic risk has already provided significant benefits at least at the conceptual level but it also looks very promising from a practical point of view.

Effort and Redistribution: Is More than Value Judgement Involved?Book chapterStéphane Luchini et Miriam Teschl, Martin Held, G. Kubon-Gilke et Richard Sturn (Eds.), 2015-01, pp. 165-184, Metropolis Verlag, 2015

The log-normal distribution is convenient for modelling the income distribution, and it offers an analytical expression for most inequality indices that depends only on the shape parameter of the associated Lorenz curve. A decomposable inequality index can be implemented in the framework of a finite mixture of log-normal distributions so that overall inequality can be composed into within-subgroup components. Using a Bayesian approach and a Gibbs sampler, a Rao-Blackwellization can improve inference results on decomposable income inequality indices. The very nature of the economic question can provide prior information so as to distinguish between the income groups and construct an asymmetric prior density which can reduce label switching. Data from the UK Family Expenditure Survey (FES) (1979 to 1996) are used in an extended empirical application.

Conflict, Commitment and Well-BeingBook chapterRitxar Arlegi et Miriam Teschl, In: Happiness Studies Book Series, Johnny H. Søraker, Jan-Willem Van der Rijt, Jelle de Boer, Pak-Hang Wong et Philip Brey (Eds.), 2015, pp. 73-92, Springer International Publishing, 2015

There are two important discussions of commitment in economic literature: one is commitment à la Elster and Schelling, which is related to self-binding choices and means that the person has the desire to restrict the future set of options. The other is commitment à la Sen, which implies a different rationality from the standard maximization rationality and means that the person can choose an option which is not necessarily best for her. In this paper, we set out to show that these two discussions of commitment are related. We do so by presenting a theory of choice under motivation conflict , followed by a discussion of the consequences that the reading of commitment through motivation conflict has on well-being.