CNRS UMR6211

Nos tutelles

CNRS

Rechercher





Accueil > Séminaires réguliers > Séminaires Rennes Fac Sc. éco. > Séminaires hebdomadaires

Séminaires hebdomadaires

Faculté des Sciences économiques de Rennes
7, place Hoche
Le jeudi de 12h30 à 13h45, salle De Robien
Organisateurs :
Marie-Hélène Hubert, Thomas Le Texier, Guillaume L’Œillet

 

PROGRAMME 2016-2017

 

Voir le calendrier des prochains séminaires : GIF
Programme septembre à décembre 2016 en téléchargement GIF
Programme janvier à avril 2017 en téléchargement GIF

 

GIF

 

  • Séminaire du jeudi 23 mars 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Brice Magdalou - LAMETA, Université de Montpellier
Titre / title «  Hammond’s Equity Principle and the Measurement of Ordinal Inequalities  »
co-écrit avec / co-authored with Nicolas Gravel et Patrick Moyes
Abstract What would be the analogue of the Lorenz quasi-ordering when the variable of interest is of a purely ordinal nature ? We argue that it is possible to derive such a criterion by substituting for the Pigou-Dalton transfer used in the standard inequality literature what we refer to as a Hammond progressive transfer. According to this criterion, one distribution of utilities is considered to be less unequal than another if it is judged better by both the lexicographic extensions of the maximin and the minimax, henceforth referred to as the leximin and the antileximax, respectively. If one imposes in addition that an increase in someone’s utility makes the society better off, then one is left with the leximin, while the requirement that society welfare increases as the result of a decrease of one person’s utility gives the antileximax criterion. Incidently, the paper provides an alternative and simple characterisation of the leximin principle widely used in the social choice and welfare literature.
Lien / download 2017-03-23_Gravel_Magdalou_Moyes.pdf

GIF

 

  • Séminaire du jeudi 16 mars 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Anne-Gaël Vaubourg - LAREFI, Université de Bordeaux
Titre / title «  Unbundling Financial services : The case of brokerage and investment research  »
co-écrit avec / co-authored with Sébastien Galanti -
Abstract While brokers could formerly provide brokerage and financial research as a single package, unbundling rules now oblige them to charge separately for the two services. To analyse the effect of this regulation, we consider a duopoly between a broker and an independent research provider and two types of services : a brokerage service and two different research services, which cannot be consumed without the brokerage service. Without unbundling rules, there exists an equilibrium in which the broker offers a bundle of brokerage and a research service while the independent analyst provides the other research service alone. This equilibrium is based on a differentiation effect, whereby the demand for the bundle boosts the demand for the separated component and vice versa. Under unbundling rules, another equilibrium emerges in which the broker offers the brokerage and one research service separately while the independent analyst offers the second research service. In this equilibrium, the market power of both protagonists and their profits are increased and welfare is improved.
Lien / download 2017-03-16_Galanti_Vaubourg.pdf

GIF

 

  • Séminaire du jeudi 2 mars 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Cyriac Guillaumin - CREG, université Grenoble Alpes
Titre / title «  La « guerre des monnaies » : un jeu déstabilisant ?  »
co-écrit avec / co-authored with Hélène Raymond-Feingold - EconomiX, université Paris Ouest Nanterre La Défense
Abstract La crise financière puis économique qui a débuté en 2008 a révélé puis accentué les désordres monétaires au niveau mondial. La désorganisation du système monétaire international et l’absence de coordination des politiques monétaires rendent plausible l’utilisation de l’arme de la dépréciation de leur taux de change par certains pays pour accélérer leur sortie de crise. Les pays vers lesquels les capitaux refluent sont alors amenés à réagir pour éviter une appréciation trop forte de leur monnaie. L’impact des politiques monétaires non conventionnelles reste encore, faute de recul, difficile à évaluer, tant sur les pays développés que sur les pays émergents. Nous entendons apporter notre contribution à cet égard en testant si les mesures d’assouplissement quantitatif prises par les États-Unis, le Royaume-Uni et le Japon ont eu un impact sur les risques de désajustements de change et, en particulier, s’ils ont accru leur ampleur. Pour cela nous procédons à des estimations de taux de change d’équilibre en données de panel, à partir de données annuelles sur la période 1980-2015, pour 21 monnaies, puis évaluons l’impact des principales mesures de politique monétaire non conventionnelles sur les mésalignements de change. Nos résultats corroborent l’hypothèse selon laquelle les mesures de politique monétaire non conventionnelles ont un impact sur les déséquilibres du taux de change. Ces mesures accroissent le mésalignement et retardent l’ajustement même si ce dernier, d’après nos estimations, serait, toutes choses égales par ailleurs, relativement rapide.
Lien / download 2017-02-28_Guillaumin-raymond.pdf

GIF

 

  • Séminaire du jeudi 16 février 2017
    Salle De Robien, de 12h30 à 13h45
    | Intervenant | Jean-Paul Azam - TSE, Université de Toulouse |
    | Titre / title | «  Did the Aid Boom Pacify Sub-Saharan Africa ?  » |
    | co-écrit avec / co-authored with | Véronique Thelen - CREM, Université de Rennes 1 |
    | Abstract | The incidence of civil war in Sub-Saharan Africa since the turn of the century is less than half of what it was on average in the last quarter of the 20th century. This paper shows that the aid boom triggered by 9/11 played a key role in achieving purposefully this result using panel data for 46 African countries over four decades. The duly instrumented estimated linear probability model predicts that the observed fall in the probability of a civil war occurring in a typical Sub-Saharan African country/year could have been achieved by increasing foreign aid by 25% on average, had the higher incidence of natural disasters and the commodity price shocks of the 2000s not stacked the odds against peace. However, the small rise in minor conflicts mitigates this achievement to some extent. |
    | Lien / download | 2017-02-16_Azam_Thelen.pdf |
    GIF

     

  • Séminaire du jeudi 9 février 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Daniel Mirza - CEPII, LEO, Université François Rabelais de Tours
Titre / title «  Natural Disasters and Exports of Agricultural Products in Developing countries  »
Abstract This paper studies the impact of natural disasters on exports of agricultural products by developing countries. We first highlight many channels (supply, demand, changes in relative costs/prices and changes in preferences of importers) through which disasters affect exports, making their relationship very ambiguous. We then run a series of regressions on total and bilateral exports and find indeed a non robust effect of disasters on exports in developing countries. Nevertheless, we could identify a robust and positive (not negative) channel effect of disasters on exports : exports appear to be reallocated towards some few countries which share common historical and cultural traits with those of the exporter. This finding, we argue, is consistent with changes in preferences of similar-culture countries through a solidarity act (altruism hypothesis).

GIF

 

  • Séminaire du jeudi 2 février 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Fabien Moizeau - CREM, Université de Rennes 1
Titre / title «  Cultural Dynamics, Social Mobility and Urban Segregation  »
co-écrit avec / co-authored with Emeline Bezin (Paris School of Economics)
Abstract We consider the relationship between cultural dynamics, urban segregation and inequality. To this end, we develop a model of neighbourhood formation and cultural transmission. The tension between culture preservation and socioeconomic integration drives the pattern of segregation in the city. We study the dynamics of culture and urban configurations. In the long run, the city may end-up segregated or integrated depending on cultural distance and the initial cultural composition of the population. We also show that segregation fosters the influence of family background on economic fate. Finally, segregation has ambiguous effects for long-run efficiency.
Lien / download 2017-02-02_Bezin_Moizeau.pdf

GIF

 

  • Séminaire du jeudi 19 janvier 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Antonia Lopez-Villavicencio - GATE, Université de Lyon 2
Titre / title «  Exchange rate pass-through in emerging countries : Do the inflation environment, monetary policy regime and monetary policy behavior matter ?  »
Abstract In this paper, we estimate the exchange rate pass-through to import and consumer prices and assess its dynamics for a sample of 14 emerging countries over the 1994Q1-2015Q3 period. To this end, we augment the traditional bivariate relationship between the nominal effective exchange rate and inflation by accounting for monetary stability proxied by the inflation environment, monetary policy regime and monetary policy behavior. We show that both the level and volatility of inflation, as well as adopting an inflation target or the transparency of monetary policy decisions clearly reduce ERPT to consumer prices. However, uncertainty about domestic monetary policy does not affects the pass-through to the price of imports.

GIF

 

  • Séminaire du jeudi 12 janvier 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Angela Sutan - LESSAC, ESC Dijon Bourgogne
Titre / title «  Can Consumers Be Successfully Manipulated ? On the Role of Vested vs. non-Vested Reviewers  »
co-écrit avec / co-authored with Brice Corgnet, Mihaela Bonescu
Abstract We conducted an experiment on the informational efficiency of the review process by analyzing the impact on consumers’ decisions of two types of reviewers : those who are vested (“interested”) and benefit from the sale of the product and those “disinterested” (non-vested), who do not have a stake in the product. Our results confirm the informative value of disinterested reviews while calling our attention to the possibility of effective manipulation of the review process by interested parties.

GIF

 

  • Séminaire du jeudi 5 janvier 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Andreea Cosnita-Langlais - EconomiX, Université Paris Ouest Nanterre La Défense
Titre / title «  How procedures shape substance : Institutional Design and Antitrust Evidentiary Standards  »
co-écrit avec / co-authored with Jean-Philippe Tropeano
Abstract This paper studies the interplay between the optimal evidentiary standard and the optimal (de)coupling between payment and award upon trial in the context of private antitrust enforcement with asymmetric information on the true type of the defendant. We equally examine the consequences, also in terms of expected welfare, of introducting public enforcement into the framework. We show that allowing for public enforcement always leads to a lower optimal standard of evidence. This may only enhance welfare if the information available is good enough.
Lien / download 2017-01-05_ProceduresShapeSubstance-CosnitaTropeano.pdf

GIF

 

  • Séminaire du jeudi 15 décembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Stéphane Robin - GATE, Université de Lyon 2
Titre / title «  The formation of partnerships in social networks  »
co-écrit avec / co-authored with Francis Bloch, Bhaskar Dutta, Min Zhu
Abstract This paper analyzes the formation of partnerships in social networks. Agents randomly request favors and turn to their neighbors to form a partnership where they commit to provide the favor when requested. If favors are costly, agents have an incentive to delay the formation of the partnership. In that case, we show that for any initial social network, the unique Markov Perfect equilibrium results in the formation of the maximum number of partnerships when players become infinitely patient. If favors provide benefits, agents rush to form partnerships at the cost of disconnecting other agents and the only perfect initial networks for which the maximum number of partnerships are formed are the complete and complete bipartite networks. The theoretical model is tested in the lab.

GIF

 

  • Séminaire exceptionnel du mardi 13 décembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Marie-Louise Leroux - UQAM, Montréal
Titre / title «  Working Time Regulation, Unequal Lifetimes and Fairness  »
co-écrit avec / co-authored with Gregory Ponthiere
Abstract We examine the redistributive impact of working time regulations in an economy with unequal lifetimes. It is shown that uniform working time reductions, when uncompensated (i.e. constant hourly wage), can reduce inequalities in realized lifetime well-being between short-lived and long-lived persons with respect to the laissez-faire, but at the cost of making the short-lived worse off. When compensated (i.e. constant labour earnings), uniform working time reductions can make the short-lived better o¤, but at the cost of raising inequalities. Then, we characterize the ex post egalitarian optimum, where the realized lifetime well-being of the worst off is maximized, and show that this social optimum involves an increasing age pro…le in terms of worked hours. We examine the decentralization of that social optimum, and we provide a second-best egalitarian argument for age-dependent working time regulation, which can make the short-lived better off and reduce inequalities in realized lifetime well-being.
Lien / download 2016-12-13_Leroux-Ponthiere

GIF

 

  • Séminaire exceptionnel du vendredi 9 décembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Miguel Casares - Universidad Pública de Navarra
Titre / title «  Why are labor markets in Spain and Germany so different ?  »
co-écrit avec / co-authored with Jesús Vázquez - CREM, Université Rennes 1
Abstract The volatility of unemployment fluctuations has been about 3 times higher in Spain than in Germany over the recent business cycles (1996-2013). In contrast, fluctuations of the rate of wage inflation were significantly more volatile in Germany than in Spain. We estimate a New-Keynesian model and find several explanatory factors : wage rigidity has been higher in Spain, the labor force has been more elastic in Germany than in Spain, large and persistent shocks augmenting the labor force have been estimated for Spain whereas in Germany there have been substantial shocks reducing the intensity of hours per worker, and the ECB’s policy design brought monetary shocks with much greater influence to the Spanish unemployment.
Lien / download 2016-12-09_Casares-Vazquez

GIF

 

  • Séminaire du jeudi 8 décembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Stéphane Lambrecht - IDP, Université de Valenciennes
Titre / title «  Heterogeneity in preferences for transportation modes : Effects on modal split and urban pollution  »
co-écrit avec / co-authored with Chokri Dridi et Joseph Hanna - CREM, Université Rennes 1
Abstract We model commuters’ decision to drive or use public transit in the presence of heterogeneity regarding the level of discomfort each mode of transportation represents. We consider three groups of commuters, suburban, urban and those living in the city. We take into account aggregate pollution and its effect on welfare to examine policy options susceptible to reduce aggregate pollution. Preliminary results show that the effectiveness of policy instruments is contingent on the spread of the public transit network
Lien / download dridi_heterogeneity_modal_spit_pollution.pdf

GIF

 

  • Séminaire du jeudi 24 novembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Cécile Casteuble - CREM, Université Rennes 1
Titre / title «  Control rights versus cash-flow rights, banks’ shareholders and bondholders conflicts : Evidence from the 2007 - 2010 crisis  »
co-écrit avec / co-authored with Nadia Saghi-Zedek - CREM, Université Rennes 1
Abstract We empirically test the effect of excess control rights (greater control than cash-flow rights) of ultimate owners in pyramids, on bond yield spreads across sound and distress periods for a sample of 2,800 bonds issued by 89 publicly traded European banks over the 2002-2010 period. While the presence of excess control rights is not related to bond yield spreads during normal times, the results show that banks controlled by shareholders with excess control rights experienced lower bond yield spreads during the distress period of 2007-2010. This is potentially because bondholders perceive interconnections among shareholders within pyramids as a security cushion against failure and therefore require lower spreads from such controlled banks. A further analysis reveals that such a behavior is mainly relevant for bonds with downgraded ratings and subordinated/unsecured bonds. Overall, our findings provide a new rationale on why some banks outperformed other banks during the financial crisis and have several policy implications.

GIF

 

  • Séminaire du jeudi 17 novembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Adam Zylbersztejn - GATE, Université de Lyon 2
Titre / title «  Commitment with and without money : an experiment  »
co-écrit avec / co-authored with Nicolas Jacquemet, Stéphane Luchini, Jason Shogren
Abstract We experimentally study commitment devices in the trust game with pre-play communication. We first replicate the well-known finding that bare communication does not improve cooperation. Then, we enrich this communication environment by introducing additional mechanisms : (i) monetary commitment for truth-telling achieved through a cost of lying (either « mild » or « deterrent »), and (ii) non-monetary commitment for truth-telling achieved via a truth-telling oath. The deterrent cost of lying induces the highest levels of cooperation, outperforming both the mild cost of lying and the truth-telling oath. The truth-telling oath has a positive effect on cooperation and performs as good as a mild cost of lying. However, combining monetary and non-monetary devices does not bring any improvement as compared to either of these mechanisms. Furthermore, maintaining cooperation over time through communication requires strong monetary incentives for honesty.Commitment devices also change the patterns of communication : there are fewer messages announcing cooperation and higher level of cooperation conditional on such messages. The intensity of these effects varies across treatments and reaches its peak for the deterrent cost of lying. These data support the hypothesis that external commitment devices dissuade untrustworthy agents from making deceptive announcements.

GIF

 

  • Séminaire du jeudi 10 novembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Claude Diebolt - BETA, UMR CNRS 7522, Université de Strasbourg
Titre / title « Economics Through the Lens of History : A Brief Definition of Cliometrics »

GIF

 

  • Séminaire du jeudi 13 octobre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Emmanuel Kemel - HEC Paris
Titre / title «  Take your chance or take your time : Estimating a generalized discounted expected utility model  »
co-écrit avec / co-authored with Abdellaoui M. (HEC Paris), Kemel E. (HEC Paris), Serwaah-Panin (WZB), Vieider F. (WZB and University of Reading) - Institut National de l’Audiovisuel - INA
Abstract Discounted expected utility (DEU) is the workhorse of modern economics for decisions involving risk and time. This model uses one and the same discount function and utility index to evaluate consequences received in the future, whether risky or not. Recent empirical investigations have questioned the validity of assuming identical utility functions for risk and time and have shown that discounting in riskless environments may not be the same as in risky environments.
The present paper presents a generalized form of DEU that accommodates these potential problems by incorporating the possibility for three descriptively desirables features in an integrated framework : different utility for risk and for time ; non-exponential discounting function ; non-linear probability weighting.
We then propose a simple method to directly measure time discounting in risky environments. This method is implemented in an incentivized laboratory experiment and allows us to access the discount function under risk directly and without the utility confound when assuming DEU. Discount functions in riskless environments are also measured as a baseline.
While we find discounting under risk and in riskless environments to be significantly and systematically different assuming DEU, this different disappears under our model that corrects for both the difference in utility and for probability weighting.

GIF

 

  • Séminaire du jeudi 6 octobre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Julia Cagé - Sciences Po Paris
Titre / title The Production of Information in an Online World : Is Copy Right ?
co-écrit avec / co-authored with Nicolas Hervé et Marie-Luce Viaud - Institut National de l’Audiovisuel - INA
Abstract The modern media industry is in a state of crisis. Legacy media outlets point to new digital distribution mechanisms that relay instantaneously the substance of their news stories without compensating them for their newsgathering efforts as a source of the crisis. They argue for greater intellectual property protection. In this paper, we build a unique dataset including all online content produced by the universe of news media in France during year 2013. We develop a topic detection algorithm that identifies each news story, trace the timeline of each story and study news propagation. We provide new evidence on the speed of news dissemination and the importance of copying online. We identify verbatim copying without and without acknowledgment and discuss the magnitude of copying falling outside the bounds of copyright law. We find that more than half of the copying actually lies outside these bounds, and that the share of total audience captured by breaking news outlets is very low. This evidence shades new light on the current debate on property in news.

GIF

 

  • Séminaire du jeudi 29 septembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Emmanuel Carré - IMABS, Université de Bretagne Sud
Titre / title « Revolving door » dans les banques centrales
Abstract Les régulateurs sont souvent recrutés à leur sortie par les entreprises qu’ils régulaient. Ce phénomène baptisé « revolving door » induirait, selon la littérature, un risque de conflit d’intérêt, voire de capture du régulateur. L’article examine si ce phénomène de revolving door existe dans les banques centrales. Les carrières des banquiers centraux à leurs entrée et sortie de la banque centrale sont étudiées afin d’établir un état des lieux. La base de données construite montre que le phénomène est significatif, notamment à la sortie de la banque centrale. Les résultats permettent d’établir un schéma type de revolving door dans lequel l’entrée dans la banque centrale se fait suite à une carrière dans le secteur bancaire, et une sortie de la banque centrale suivie d’un recrutement par un gestionnaire d’actifs sur un poste managérial après un délai médian d’environ un an. Un allongement du délai de carence permettrait de limiter ce phénomène de revolving door.
Lien / download 2016-09-29_Carre.pdf

GIF

 

  • Séminaire du mardi 27 septembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Maurice Baslé - Professeur émérite, CREM-CNRS, Chaire Jean Monnet ad personam. Lauréat du concours de la Villa Vigoni
Titre / title «  A quick overview of the governance of the « policy mix » in the euro area and one of his recurring problems  »
Lien / download 2016-09-27_basle _summary and references.pdf

GIF

 

  • Séminaire du jeudi 22 septembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Laetitia Lepetit - LAPE, Université de Limoges
Titre / title «  Connections between bank board of directors and shareholders : Is there an impact on the cost of equity  »
co-écrit avec / co-authored with T. Barry, F. Strobel et T.H. Tran
Abstract We investigate whether relatedness of board of directors to shareholders affects banks’ cost of equity, using a panel of 136 listed banks across 21 countries. We find, in the case of banks controlled by at least one shareholder, a positive relationship between banks cost of equity and relatedness of board of directors to controlling shareholders, especially in countries with weak level of shareholder protection. The finding suggests that shareholders require higher returns from banks when the board of directors relates to controlling shareholders to compensate potential risk of expropriation. Conversely our results show that relatedness of board of directors to either non-controlling shareholders or to managers allow banks to reduce their cost of equity. In widely held banks, we find a positive relation between the relatedness of board to either shareholders or to managers and bank cost of equity. Our findings contribute to the corporate governance literature and have some policy implications to improve corporate governance for banks.

GIF

 

  • Séminaire du jeudi 15 septembre 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Romain Espinosa - CRED, Université Paris 2
Titre / title «  Social Stigma and Liability Rules  »
Abstract In this paper, we investigate the role of social stigma in liability rules. We seek to assess extent to which social stigmatization may interact, counter or strengthen the impact of legal rules on individuals. We set up an experiment in which participants can take risky actions with negative externalities on other participants of their group. Individuals can face three kinds of legal rules for compensation (strict liability, negligence rule or no legal system). We introduce the possibility of imperfect legal enforcement with probabilistic sanctioning. Participants have the opportunity to blame other group members at the end of each stage game. Our empirical analysis is focused on welfare and social stigma.

GIF

 


PROCHAINS SÉMINAIRES

GIF

 

  • Séminaire du jeudi 30 mars 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Christophe Hurlin - LEO, Université d’Orléans
Titre / title «  TBA  »

GIF

 

  • Séminaire du mardi 4 avril 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Emeline Bezin - PSE, Ecole d’économie de Paris
Titre / title «  TBA  »

GIF

 

  • Séminaire du mercredi 6 avril 2016
    Salle De Robien, de 12h30 à 13h45
Intervenant Bertrand Achou - PSE, Ecole d’économie de Paris
Titre / title «  TBA  »

GIF

 

  • Séminaire du mardi 11 avril 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Jean-Sébastien Pentecôte - CREM, Université de Caen Normandie
Titre / title «  TBA  »

GIF

 

  • Séminaire du jeudi 13 avril 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Mohammed Saleh - TSE, Université de Toulouse
Titre / title «  TBA  »

 

Intervenant Jules Hugot - Pontificia Universidad Javeriana, Bogota, Colombie
Titre / title «  TBA  »

GIF

 

  • Séminaire du jeudi 27 avril 2017
    Salle De Robien, de 12h30 à 13h45
Intervenant Grégory Ponthière - ERUDITE, Université Paris Est
Titre / title «  TBA  »

GIF