Publications

La plupart des informations présentées ci-dessous ont été récupérées via RePEc avec l'aimable autorisation de Christian Zimmermann
Advances in growth and macroeconomic dynamics: In memory of Carine NourryJournal articleRaouf Boucekkine, Thomas Seegmuller et Alain Venditti, Mathematical Social Sciences, Volume 112, Issue Suppl C, pp. 1-6, 2021

This paper is an introduction to the special issue of Mathematical Social Sciences on Advances in growth and macroeconomic dynamics in memory of Carine Nourry.

A theory of elite-biased democraciesJournal articleRaouf Boucekkine, Rodolphe Desbordes et Paolo Melindi-Ghidi, Mathematical Social Sciences, Volume 112, Issue Suppl C, pp. 159-166, 2021

Elite-biased democracies are those democracies in which former political incumbents and their allies coordinate to impose part of the autocratic institutional rules in the new political regime. We document that this type of democratic transition is much more prevalent than the emergence of pure (popular) democracies in which the majority decides the new institutional rules. We then develop a theoretical model explaining how an elite-biased democracy may arise in an initially autocratic country. To this end, we extend the benchmark political transition model of Acemoglu and Robinson (2005) along two essential directions. First, population is split into majority versus minority groups under the initial autocratic regime. Second, the minority is an insider as it benefits from a more favourable redistribution by the autocrat. We derive conditions under which elite-biased democracies emerge and characterise them, in particular with respect to pure democracies.

Migration, remittances and accumulation of human capital with endogenous debt constraintsJournal articleNicolas Destrée, Karine Gente et Carine Nourry, Mathematical Social Sciences, Volume 112, Issue Suppl C, pp. 38-60, 2021

This paper studies the impact of migration and workers’ remittances on human capital and economic growth when young individuals face debt constraints to finance education. We consider an overlapping generations model à la de la Croix and Michel (2007). In this no-commitment setting, education is the engine of growth. Individuals may choose to default on their debt and be excluded from the asset market. We show that remittances tend to tighten the borrowing constraints for a given level of interest rate, but may enhance growth at the equilibrium. The model replicates both negative and positive impacts of migration and remittances on economic growth underlined by the empirical literature. We calibrate the model for 30 economies.

Approachability with constraintsJournal articleGaëtan Fournier, Eden Kuperwasser, Orin Munk, Eilon Solan et Avishay Weinbaum, European Journal of Operational Research, Volume 292, Issue 2, pp. 687-695, 2021

We study approachability theory in the presence of constraints. Given a repeated game with vector payoffs, we study the pairs of sets (A,D) in the payoff space such that Player 1 can guarantee that the long-run average payoff converges to the set A, while the average payoff always remains in D. We provide a full characterization of these pairs when D is convex and open, and a sufficient condition when D is not convex.

Remembering Carine NourryJournal articleJean-Michel Grandmont, Thomas Seegmuller et Alain Venditti, Mathematical Social Sciences, Volume 112, Issue Suppl C, pp. 7-8, 2021

This paper is a tribute for Carine Nourry for this special issue of Mathematical Social Sciences.

Growth and instability in a small open economy with debtJournal articleLeonor Modesto, Carine Nourry, Thomas Seegmuller et Alain Venditti, Mathematical Social Sciences, Volume 112, Issue Suppl C, pp. 26-37, 2021

The relationship between public debt, growth and volatility is investigated in a Barro-type (1990) endogenous growth model, with three main features: we consider a small open economy, international borrowing is constrained and households have taste for domestic public debt. Therefore, capital, public debt and the international asset are not perfect substitutes and the economy is characterized by an investment multiplier. Whatever the level of the debt-output ratio, the existing BGP features expectation-driven fluctuations. If the debt-output ratio is low enough, there is also a second BGP with a lower growth rate. Hence, a lower debt does not stabilize the economy with credit market imperfections. However, a high enough taste for domestic public debt may rule out the BGP with lower growth. This means that if the share of public debt held by domestic households is high enough, global indeterminacy does not occur.

Reçoit-on les mêmes soins partout en France ? La question de l’hétérogénéité des pratiques, de leur raison d’être et de leur contrôleBook chapterAlain Paraponaris et Bruno Ventelou, In: Le système de santé : enjeux et défis, 2021-07, EP Eska Publishing, 2021
Tracking the dynamics and allocating tests for COVID-19 in real-time: An acceleration index with an application to French age groups and départementsJournal articleChristelle Baunez, Mickael Degoulet, Stéphane Luchini, Patrick A. Pintus et Miriam Teschl, PLoS ONE, Volume 16, Issue 6, pp. e0252443, 2021

An acceleration index is proposed as a novel indicator to track the dynamics of COVID-19 in real-time. Using data on cases and tests in France for the period between the first and second lock-downs—May 13 to October 25, 2020—our acceleration index shows that the pandemic resurgence can be dated to begin around July 7. It uncovers that the pandemic acceleration was stronger than national average for the [59–68] and especially the 69 and older age groups since early September, the latter being associated with the strongest acceleration index, as of October 25. In contrast, acceleration among the [19–28] age group was the lowest and is about half that of the [69–78]. In addition, we propose an algorithm to allocate tests among French “départements” (roughly counties), based on both the acceleration index and the feedback effect of testing. Our acceleration-based allocation differs from the actual distribution over French territories, which is population-based. We argue that both our acceleration index and our allocation algorithm are useful tools to guide public health policies as France might possibly enter a third lock-down period with indeterminate duration.

Why Are Low-Skilled Workers Less Mobile? The Role of Mobility Costs and Spatial FrictionsJournal articleBenoît Schmutz, Modibo Sidibé et Élie Vidal-Naquet, Annals of Economics and Statistics, Issue 142, pp. 283-304, 2021

Workers' propensity to migrate to another local labor market varies a lot by occupation. We use the model developed by Schmutz and Sidibé (2019) to quantify the impact of mobility costs and search frictions on this mobility gap. We estimate the model on a matched employer-employee panel dataset describing labor market transitions within and between the 30 largest French cities for two groups at both ends of the occupational spectrum and find that: (i) mobility costs are very comparable in the two groups, so they are three times higher for blue-collar workers relative to their respective expected income; (ii) Depending on employment status, spatial frictions are between 2 and 3 times higher for blue-collar workers; (iii) Moving subsidies have little (and possibly negative) impact on the mobility gap, contrary to policies targeting spatial frictions; (iv) Mobility-enhancing policies have almost no impact on the unemployment gap.

Altruism and Risk Sharing in NetworksJournal articleRenaud Bourlès, Yann Bramoullé et Eduardo Perez-Richet, Journal of the European Economic Association, Volume 19, Issue 3, pp. 1488-1521, 2021

We provide the first analysis of the risk-sharing implications of altruism networks. Agents are embedded in a fixed network and care about each other. We explore whether altruistic transfers help smooth consumption and how this depends on the shape of the network. We find that altruism networks have a first-order impact on risk. Altruistic transfers generate efficient insurance when the network of perfect altruistic ties is strongly connected. We uncover two specific empirical implications of altruism networks. First, bridges can generate good overall risk sharing, and, more generally, the quality of informal insurance depends on the average path length of the network. Second, large shocks are well-insured by connected altruism networks. By contrast, large shocks tend to be badly insured in models of informal insurance with frictions. We characterize what happens for shocks that leave the structure of giving relationships unchanged. We further explore the relationship between consumption variance and centrality, correlation in consumption streams across agents, and the impact of adding links.