Publications
We provide an optimal growth spatio-temporal setting with capital accumulation and diffusion across space to study the link between economic growth triggered by capital spatio-temporal dynamics and agglomeration across space. The technology is AK, K being broad capital. The social welfare function is Benthamite. In sharp contrast to the related literature, which considers homogeneous space, we derive optimal location outcomes for any given space distributions for technology and population. Both the transitional spatio-temporal dynamics and the asymptotic spatial distributions are computed in closed form. Concerning the latter, we find, among other results, that: (i) due to inequality aversion, the consumption per capital distribution is much flatter than the distribution of capital per capita; (ii) endogenous spillovers inherent in capital spatio-temporal dynamics occur as capital distribution is much less concentrated than the (pre-specified) technological distribution; (iii) the distance to the center (or to the core) is an essential determinant of the shapes of the asymptotic distributions, that is relative location matters.
Background:
Each year, almost 400,000 new individuals are diagnosed with cancer in France and nearly half of them are in the working age. The disease was found to have a negative impact on professional life, especially for the most vulnerable cancer survivors. Literature reviews have pointed out the lack of studies focusing on the evaluation of interventions. In France, workstation layouts are recommended by the French law, but not mandatory to facilitate return to work. The aim of this study was to explore the effect of having a workstation layout after a cancer diagnosis on maintenance in employment five years after diagnosis.
Methods:
We used the French VICAN survey carried out in 2015/2016 on living conditions five years after a cancer diagnosis. Using propensity score matching, we matched two subsamples (with and without workstation layout) to investigate the effect of workstation layout taking into account the characteristics associated with the access to these arrangements.
Results:
Among the 1,514 individuals aged between 18 and 54 at diagnosis and employed in a salaried job at this time, three in five (61.2%) had a workstation layout within the five years following the diagnosis: 35.5% had a position type layout, 41.5% had a schedule layout, and 49.2% had a working time layout. Among those who had a workstation layout, 89.7% were still in employment five years after diagnosis against only 77.8% of those who did not so (p.value<0,001). After matching, having a workstation layout increased maintenance in employment from 77.8% to 95.0% (Average workstation layout effect on the treated of 0.172, 95% CI = [0.114; 0.229]).
Conclusions:
Having a workstation layout after a cancer diagnosis strongly increases maintenance in employment of five years cancer survivors. More research is needed to better understand the differences in access to these arrangements and the related
selection effect.
Key messages:
Workstation layout increases maintenance in employment of survivors five years after a cancer diagnosis. Therefore, it should be used more systematically to facilitate work with a chronic disease. Having a workstation layout may constitute a disadvantageous selection bias for more vulnerable workers. It can also lead to discrimination feelings.
The demand for weather-sensitive products, such as beverages, ice creams, or chocolate varies with changes in temperature. Yet, retailers lack a framework to adapt the marketing mix elements, such as price and advertising, in line with such changes. We provide a theoretical framework to fill this gap by developing an analytical model to derive the optimal marketing mix when product demand depends on temperature. The model prescribes how price and advertising for different demand characteristics should be set following a temperature change. Integrating the temperature element in the marketing mix offers an original profit-enhancing strategy.
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Background:
Musculoskeletal disorders (MSD) can cause short-term disorders and permanent disabilities which may all result in serious limitations in ac
This article identifies the effect of trade policy on market power through new data and a new identification strategy. We identify market power by observing how exporting firms price discriminate across markets following variations in bilateral exchange rates. Pricing-to-market is prevalent in all countries in our sample, even among small firms, although it is increasing in firm size. More importantly, we find that the effect of nontariff measures (NTMs) is not isomorphic to that of tariffs. Whereas tariffs reduce the market power of foreign firms through rent-shifting effects, NTMs reinforce the market power of nonexiting firms, domestic and foreign alike.
A principal targets agents organized in a network of local complementarities, in order to increase the sum of agents' effort. We consider bilateral public contracts à la Segal (1999). The paper shows that the synergies between contracting and non-contracting agents deeply impact optimal contracts: they can lead the principal to contract with a subset of the agents, and to refrain from contracting with central agents.
FR/ Dans Économie politique et philosophie chez Steuart et Hegel (1963), Paul Chamley examine l’intérêt que Hegel prit tôt pour l’économie. Il le rapporte à l’influence sur Hegel de la lecture, à Francfort, de l’Enquête publiée par James Steuart, ouvrage (aujourd’hui trop négligé) qui précéda La Richesse des nations d’Adam Smith. Quels thèmes majeurs Hegel y puisa-t-il ? Existe-t-il d’ailleurs une « économie hégélienne » per se ? Les notions hégéliennes en ce domaine sont-elles d’un bloc ? Outre l’effet du livre de Steuart, s’exercèrent les influences du caméralisme germanique traditionnel et du classicisme britannique naissant. Il faut donc montrer plus de circonspection que Chamley n’en eut et cet essai réévalue les vues de Hegel sur l’économie dans son époque.
EN/ In Économie politique et philosophie chez Steuart et Hegel (1963), Paul Chamley examined Hegel’s interest in economics. Chamley stressed the influence on Hegel of reading Sir James Steuart’s An Inquiry into the Principles of Political Economy, a major work (too overlooked today) that preceded Adam Smith’s Wealth of Nations. Now, is there such a thing as “Hegelian economics?” If so, what are its themes and is it fully consistent, or should one consider, besides the influence of Steuart, that of a body of traditional German Cameralist writings as well as that of incipient British classicism? This essay reevaluates Hegelian views on economics with regard to the knowledge that Hegel drew from economics in his time
Background:
In France, Health Regional Agencies (HRA) have to elaborate a Public Health Plan for the 5 coming years. For estimating future population health needs and associated costs to adapt the health services on the regional territory, the HRA in southeastern France requested a prospective analysis, based on demographic and epidemiologic scenarios about major chronic diseases, to evaluate future trends.
Methods:
Six chronic diseases were selected: diabetes (1 or 2), cardiovascular diseases, respiratory diseases, cancers, neurological diseases and dementia. We used medico-administrative data from the National health insurance fund, and adapted algorithms to identify people with these diseases. We calculated prevalence rates according to gender and age and used two alternative scenarios (a constant one, and a trend-based one) to estimate the number of people with chronic diseases in 2023 and 2028, starting in 2016. We also estimated future healthcare costs according a constant and a trend-based scenario.
Results:
The algorithms detect reasonable rates of disease compared to official rates available for 2016. Due to demographic (ageing) and/or epidemiologic trends, the number of people with chronic diseases will highly increase during the next ten years in the South of France region. For instance, between 2016 and 2028, there will be from 15% to 20% more people with diabetes. Associated costs will also be higher (+33% between 2016 and 2028), especially those granted to nursing care (+40%).
Conclusions:
Burden of diseases and health expenditures are going to increase in the future. Projections are needed to help policymakers anticipating the required health services adaptation. Medico-administrative database are an invaluable source of data to do so. The next step of this project will consist in estimating those trends for smaller geographical areas.
Standard results about portfolio optimization suggest that the allocation to real estate in a mixed-asset portfolio should be around 15–20%. However, the institutional investors share in real estate is significantly smaller, around 7–9%. Many researches have addressed this point even if as of today no consensus has emerged. In this paper, we built-up an allocation model that can explain the empirical observed weights. For this purpose, we account for the term structure of all standard financial assets and also of real estate asset class (expected returns, volatilities and correlations depending on the time to maturity). We propose a dynamic portfolio optimization model that allows analyzing portfolio weights with respect to the whole term structure modelling, due to its tractability and its good fit when being adequately calibrated. In this framework, we provide explicit and operational solutions to the dynamic mixed-asset portfolio allocation (cash, real estate, stock and bond). The results show that accounting for investment horizon and mean-reverting dynamics allows to better examine how portfolio allocations depend on both risk aversion and investment horizon.
