La plupart des informations présentées ci-dessous ont été récupérées via RePEc avec l'aimable autorisation de Christian Zimmermann
Diversifying financial research: Final remarksJournal articleThomas Lagoarde-Segot, International Review of Financial Analysis, Volume 41, pp. 28-30, 2015

This paper is a response to Christopher Schinckus (in press) comments on my 2015 International Review of Financial Analysis paper Diversifying financial research: from financialization to sustainability. I first attempt to summarize our argument, and then attempt to draw out further implications for the diversification of academic finance, by connecting our discussion to current debates in the field of critical management studies (CMS).

Returns to Micro-Entrepreneurship in an Emerging Economy: A Quantile Study of Entrepreneurial Indonesian Households’ WelfareJournal articleVirginie Vial et Julien Hanoteau, World Development, Volume 74, Issue C, pp. 142-157, 2015

Presenting low individual returns, but providing households with livelihoods and means to cope with economic vulnerability, micro-entrepreneurship’s evaluation should include both context and heterogeneity. Using a four-wave panel of 9,157 Indonesian households, this study proposes a quantile estimation of micro-entrepreneurship’s effects on four household-level complementary measures of welfare – income, consumption, household, and total assets. It evidences substantial positive but decreasing effects on the four measures, with the highest relative returns for the poorest. For this category, micro-entrepreneurship primarily provides returns in the form of income, translating into higher relative consumption, but more importantly, into a greater relative assets accumulation.

The non-take up of long-term care benefit in France: A pecuniary motive?Journal articleYves Arrighi, Bérengère Davin, Alain Trannoy et Bruno Ventelou, Health Policy, Volume 119, Issue 10, pp. 1338-1348, 2015

With aging populations, European countries face difficult challenges. In 2002, France implemented a public allowance program (APA) offering financial support to the disabled elderly for their long-term care (LTC) needs. Although currently granted to 1.2 million people, it is suspected that some of those eligible do not claim it—presenting a non-take-up behavior. The granting of APA is a decentralized process, with 94 County Councils (CC) managing it, with wide room for local interpretation. This spatial heterogeneity in the implementation of the program creates the conditions for a “quasi-natural experiment”, and provides the opportunity to study the demand for APA in relation to variations in CCs’ “generosity” in terms of both eligibility and subsidy rate for LTC. We use a national health survey and administrative data in a multilevel model controlling for geographical, cultural and political differences between counties. The results show that claiming for APA is associated with the “generosity” of CCs: the population tends to apply less for the allowance if the subsidy rate is in average lower. This pecuniary trade-off, revealed by our study, can have strong implications for the well-being of the elderly and their relatives.

Past and present issues in trade statistics. An insider’s viewJournal articleHubert Escaith, Revue de l'OFCE, Volume 140, Issue 4, pp. 37-51, 2015

Trade statistics are perhaps among the oldest official statistics alongside population censuses. Until very recently, trade statistics remained closely tied to their original eighteenth-century purpose of informing the Prince about taxes collected by customs officials; more recently in the mid-twentieth century, they came to serve also in establishing the National Accounts required by the State for managing the economy. Then the world economy became truly global. Trade statistics had to become trans-national and multi-dimensional if they were to be representative of the twenty-first century economic system. The methodology has matured in the 2010s; in the process, trade statistics have gone beyond their initial purpose of serving the State to become a tool for understanding the complex relationships linking various industries across different borders. The resulting information is increasingly used to assess not only the economic dimensions of trade but also its implications in terms of employment and the environment.

Online Learning and Game Theory. A Quick Overview with recent results and applicationsJournal articleMathieu Faure, Pierre Gaillard, Bruno Gaujal et Vianney Perchet, ESAIM: Proceedings and Surveys, Aurélien Garivier (Eds.), Volume 51, pp. 246-271, 2015

We study one of the main concept of online learning and sequential decision problem known as regret minimization. We investigate three different frameworks, whether data are generated accordingly to some i.i.d. process, or when no assumption whatsoever are made on their generation and, finally, when they are the consequences of some sequential interactions between players. The overall objective is to provide a comprehensive introduction to this domain. In each of these main setups, we define and analyze classical algorithms and we analyze their performances. Finally, we also show that some concepts of equilibria that emerged in game theory are learnable by players using online learning schemes while some other concepts are not learnab

External Shocks, Internal Shots: The Geography of Civil ConflictsJournal articleNicolas Berman et Mathieu Couttenier, The Review of Economics and Statistics, Volume 97, Issue 4, pp. 758-776, 2015

We use georeferenced information on the location of violent events in sub-Saharan African countries and provide evidence that external income shocks are important determinants of the intensity and geography of civil conflicts. More precisely, we find that (a) the incidence, intensity, and onset of conflicts are generally negatively and significantly correlated with income variations at the local level; (b) this relationship is significantly weaker for the most remote locations; and (c) at the country level, these shocks have an insignificant impact on the overall probability of conflict outbreak but do affect the probability that conflicts start in the most opened regions.

Volatility spillovers across daytime and overnight information between China and world equity marketsJournal articleJian Hua et Bilel Sanhaji, Applied Economics, Volume 47, Issue 50, pp. 5407-5431, 2015

This article explores the transmission of daytime and overnight information in terms of returns and volatility between Chinese and Asian, European and North American main stock markets. We propose a bivariate analysis with China as benchmark. By testing the constancy of the conditional correlations, we use an extended constant or dynamic conditional correlation GARCH model. The empirical findings show that across the daytime information transmissions, the relationships between China and Asian markets are closer than China and non-Asian markets, whereas through the overnight information transmissions these relationships are inverse. The analysis provides, before the crisis, that the overnight volatility spillover effects are from China to the United States and the United Kingdom. During the crisis, China affects the United Kingdom in terms of daytime volatility spillovers, whereas in terms of overnight volatility spillovers China affects the United States and is influenced by Japan. After the crisis, daytime volatility spillovers are from Taiwan to China, whereas the overnight volatility spillover effects are from China to the United States and the United Kingdom.

Choice overload, coordination and inequality: three hurdles to the effectiveness of the compensation mechanism?Journal articleEstelle Midler, Charles Figuières et Marc Willinger, Social Choice and Welfare, Volume 45, Issue 3, pp. 513-535, 2015

We test the effectiveness of a compensation mechanism, adapted from Varian (Am Econ Rev 84(5):1278–1293, 1994 ). When a negative externality is produced the mechanism allows agents suffering from it to compensate those who reduce its production, by way of transfers implemented via a two-stage design. We investigate various factors that might affect the likelihood that subjects coordinate on a Pareto optimum: the size of the strategy space, the number of subgame perfect equilibria and inequality of the payoff distribution. Our experimental findings suggest that the mechanism’s effectiveness crucially depends on the final payoff distribution (after transfers). It is also strongly negatively affected by the size of the strategy space. Finally, the impact of the number of equilibria on coordination only has a weak negative effect. Copyright Springer-Verlag Berlin Heidelberg 2015

The trade-off between welfare and equality in a public good experimentJournal articleAgathe Rouaix, Charles Figuières et Marc Willinger, Social Choice and Welfare, Volume 45, Issue 3, pp. 601-623, 2015

We report the results of an experiment on voluntary contributions to a public good in which we implement a redistribution of the group endowment among group members in a lump sum manner. We study the impact of redistribution on group contribution, on individuals’ contributions according to their endowment and on welfare. Our experimental results show that welfare increases when equality is broken, as predicted by theory (Itaya et al. in, Econ Lett 57:289–296, 1997 ), because the larger contribution of the rich subjects overcompensates the lower contribution of the poor subjects. However, our data suggest that the adjustment of individual contributions after redistribution is not always compatible with the predictions. In particular, subjects who become poor contribute much less than subjects who were poor since the beginning. Copyright Springer-Verlag Berlin Heidelberg 2015

Gross domestic product per capita in France and in advanced economies : the role of productivity and employmentJournal articleAntonin Bergeaud, Gilbert Cette et Rémy Lecat, Rue de la Banque, Issue 11, 2015

This issue of Rue de la Banque examines chaonges in living standards as measured by gross domestic product (GDP) per capita in 13 OECD countries, including France, between 1890 and 2012. During this period, living standards rose by a factor of 9 in France, 11 in the United States, 6 in the United Kingdom and 23 in Japan. Total factor productivity (TFP) and, to a lesser extent, capital intensity (fixed capital divided by GDP at constant prices) were the main drivers behind the rise in living standards. The employment ratio, captured by the share of the population aged 15-64 in employment, and the amount of working time also play an important role, especially when it comes to explaining why the countries that comprise the current euro area ceased to close the gap with the United States between 1970 and 1995. Despite a relative increase in employment ratios, the catch-up by the euro area’s three largest countries was interrupted again over 1995-2013 as US TFP surged on the back of advances in information and communication technologies.