Publications

La plupart des informations présentées ci-dessous ont été récupérées via RePEc avec l'aimable autorisation de Christian Zimmermann
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.

Which Role for ICTs as a Productivity Driver Over the Last Years and the Next Future?Journal articleGilbert Cette, Communications & Strategies, Volume 1, Issue 100, pp. 65-83, 2015

This paper deals with the role of ICTs in the recent productivity slowdown, and with their possible future impact on productivity in developed countries: the United States (US), the Euro Area (EA), the United Kingdom (UK) and Japan. Few papers analyze the recent slowdown of the ICT contribution to productivity growth, and these papers, which concern only the US, disagree, as it will be stressed, on some important aspects. Some of the main outputs of our analysis are the following: i) A dramatic productivity slowdown has happened in the U.S. and other developed areas since the early 2000s; ii) This productivity slowdown seems to be at least partly linked to a decrease of ICT, and more precisely of chip performance gains, and to the end of the ICT increasing diffusion as a factor of production; iii) A growing attention given by chip producers to reduce heat (or, in other words, power consumption) could have contributed to the chip performance (in terms of clock speed) slowdown; iv) Some big ICT improvements will happen in the future, the next operational probably being the 3D chip; v) Large productivity gains could also be generated from an extension of the use of available chip capacities in a lot of areas, since 2005 this development being called by ITRS the 'More than Moore' process; vi) Benefits from technological changes and from the 'More than Moore' process will partly depend on institutional appropriate changes, for example concerning regulations on the labor and product markets.

How to interpret multidimensional quality of life questionnaires for patients with schizophrenia?Journal articlePierre Michel, Pascal Auquier, Karine Baumstarck, Anderson Loundou, Badih Ghattas, Christophe Lançon et Laurent Boyer, Quality of Life Research: An International Journal of Quality of Life Aspects of Treatment, Care and Rehabilitation, Volume 24, Issue 10, pp. 2483-2492, 2015

PurposeThe classification of patients into distinct categories of quality of life (QoL) levels may be useful for clinicians to interpret QoL scores from multidimensional questionnaires. The aim of this study had been to define clusters of QoL levels from a specific multidimensional questionnaire (SQoL18) for patients with schizophrenia by using a new method of interpretable clustering and to test its validity regarding socio-demographic, clinical, and QoL information.MethodsIn this multicentre cross-sectional study, patients with schizophrenia have been classified using a hierarchical top-down method called clustering using unsupervised binary trees (CUBT). A three-group structure has been employed to define QoL levels as “high”, “moderate”, or “low”. Socio-demographic, clinical, and QoL data have been compared between the three clusters to ensure their clinical relevance.ResultsA total of 514 patients have been analysed: 78 are classified as “low”, 265 as “moderate”, and 171 as “high”. The clustering shows satisfactory statistical properties, including reproducibility (using bootstrap analysis) and discriminancy (using factor analysis). The three clusters consistently differentiate patients. As expected, individuals in the “high” QoL level cluster report the lowest scores on the Positive and Negative Syndrome Scale (p = 0.01) and the Calgary Depression Scale (p < 0.01), and the highest scores on the Global Assessment of Functioning (p < 0.03), the SF36 (p < 0.01), the EuroQol (p < 0.01), and the Quality of Life Inventory (p < 0.01).ConclusionGiven the ease with which this method can be applied, classification using CUBT may be useful for facilitating the interpretation of QoL scores in clinical practice.

Quel régime monétaire pour les émergents après la normalisation ?Journal articleAndré Cartapanis et Céline Gimet, Revue d'économie financière, Volume n° 119, Issue 3, pp. 251-266, 2015

Pour les économies émergentes, le retour annoncé à des politiques monétaires conventionnelles aux États-Unis, qui se traduira par une remontée des taux directeurs américains et une réduction de la liquidité globale, pose la question du régime monétaire qu’adopteront ces pays pour assurer une croissance stable sans instabilité financière dans la période d’après-crise. Par régime monétaire, on entend la combinaison des règles de politique monétaire, des objectifs de stabilité financière et du choix d’un régime de change. Après avoir examiné le régime monétaire des émergents face aux politiques monétaires non conventionnelles depuis la crise, on s’intéresse aux spillovers internationaux provoqués par la politique monétaire américaine, avant d’analyser les divers dilemmes ou trilemmes entre lesquels devront arbitrer les banquiers centraux des pays émergents pour définir leur régime monétaire après la normalisation.Classification JEL : E58, F31, F33, F38, O16.

Income Inequality, Mobility, and the Accumulation of Capital.Journal articleCecilia Garcia-Peñalosa et Stephen J. Turnovsky, Macroeconomic Dynamics, Volume 19, Issue 06, pp. 1332-1357, 2015

We examine the determinants of income mobility and inequality in a Ramsey model with elastic labor supply and heterogeneous wealth and ability (labor endowment). Both agents with lower wealth and with greater ability tend to supply more labor, implying that labor supply decisions may have an equalizing or unequalizing effect depending on the relative importance of the two sources of heterogeneity. Moreover, these decisions are central to the extent of mobility observed in an economy. The relationship between mobility and inequality is complex. For example, a reduction in the interest rate and an increase in the wage rate reduce capital income inequality and allow upward mobility of the ability-rich. However, the increase in the labor supply of high ability agents in response to higher wages raises earnings dispersion and thus has an offsetting effect. As a result, high mobility can be associated with an increase or a decrease in overall income inequality. (This abstract was borrowed from another version of this item.)

External constraints and endogenous growth: Why didn't some countries benefit from capital flows?Journal articleKarine Gente, Miguel A. Leon-Ledesma et Carine Nourry, Journal of International Money and Finance, Volume 56, pp. 223-249, 2015

Empirical evidence on the growth benefits of capital inflows is mixed. The growth benefits accruing from capital inflows also appear to be larger for high savings countries. We explain this phenomenon using an {OLG} model of endogenous growth in open economies with borrowing constraints that can generate both positive and negative growth effects of capital inflows. The amount an economy can borrow is restricted by an endogenous enforcement constraint. In our setting, with physical capital and a pay-as-you-go pensions system, the steady state is unique. However, it can either be constrained or unconstrained. In a constrained economy, opening up to equity and {FDI} inflows can be bad for growth because it makes the domestic interest rate too low, which endogenously tightens borrowing constraints. Agents decrease savings and investment in productivity-enhancing activities resulting in lower growth. Results are reversed in an unconstrained economy. We also provide a quantitative analysis of these constraints and some policy implications.

Child Labor, idiosyncratic shocks, and social policyJournal articleAlice Fabre et Stéphane Pallage, Journal of Macroeconomics, Volume 45, pp. 394-411, 2015
Musicians and the Creative Commons: A survey of artists on JamendoJournal articleStephen Bazen, Laurence Bouvard et Jean-Benoît Zimmermann, Information Economics and Policy, Volume 32, Issue C, pp. 65-76, 2015

Piracy and the peer-to-peer diffusion of music deprive artists of income and constitute a challenge to music industry. Many consumers, especially in younger age groups, consider that is normal not to pay in order to listen to music yet artists have intellectual property rights. The reconciliation of these two features of the music market is increasingly difficult within the traditional business model of the music industry. This paper uses an original survey of artists whose music is diffused freely on the online platform Jamendo (the largest of its kind) and which uses Creative Commons (CC) licences rather than copyright firstly to examine why so many artists would adhere to such an approach and secondly what the artists feel about CC. Age is clearly a factor in the choice of CC licence type, as well as whether artists derive income from their music. The choice of CC over copyright is also found to be related to its greater flexibility, its role in the development of musical creation and its function as means of sharing. It can be seen as a basis for an alternative business model in the music industry, in which sales of albums no longer constitute the main source of artists’ remuneration.

Quelques clarifications sur l’évaluation monétaire des effets sanitaires relatifs à la pollution atmosphériqueJournal articleOlivier Chanel, Mathilde Pascal, Sylvia Medina et Pascal Beaudeau, Environnement, Risques & Santé, Volume 14, Issue 5, pp. 431-434, 2015

L'évaluation des impacts sanitaires et économiques de la pollution atmosphérique constitue un enjeu majeur pour la population et pour les décideurs. Impliqués de longue date dans ce domaine, nous ne pouvons que nous féliciter de la parution de l'article de Rafenberg et al. (2015). II contribue en effet à la prise en compte de la morbidité chronique dans l'évaluation économique des effets de la pollution atmosphérique, une voie que le projet Aphekom avait également exploré par d'autres approches. Il nous a pourtant semblé nécessaire de clarifier un certain nombre de points relatifs à cette publication. Nous commencerons par évoquer les questions de méthodes. Nous aborderons ensuite la présentation et l'interprétation de certaines études discutées dans Rafenberg et al. (2015), car la présence d'erreurs relativise la portée de certains points de la discussion de cet article.