Sciences Po publications最新文献

{"title":"Border Adjustment Mechanisms: Elements for Economic, Legal, and Political Analysis","authors":"Julien Bueb, L. R. Hanania, Alice Le Clézio","doi":"10.35188/UNU-WIDER/2016/063-8","DOIUrl":"https://doi.org/10.35188/UNU-WIDER/2016/063-8","url":null,"abstract":"This paper examines, from a multidisciplinary perspective, plausible hypotheses for implementation of border carbon adjustment mechanisms, seen as a complement to strong environmental regulation. It highlights economic, legal, and political difficulties raised by border carbon adjustments. After thoroughly reviewing their economic practicability, it analyses these mechanisms from an International Trade Law perspective, particularly vis-a-vis the General Agreement on Tariffs and Trade, sustainable development, and the principle of shared but differentiated responsibilities. It concludes with an assessment of policy-related implications of such mechanisms and outlines, in particular, how border carbon adjustments may be used as an engine of economic and energy transition, for developed and developing countries equally.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121645048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Quelle union budgétaire pour la zone euro","authors":"A. Bénassy-Quéré, Xavier Ragot, Guntram B. Wolff","doi":"10.3917/ncae.029.0001","DOIUrl":"https://doi.org/10.3917/ncae.029.0001","url":null,"abstract":"Le choix de faire l’euro sans union budgetaire a ete remis en cause par la crise. Des trois fonctions aditionnelles de la politique budgetaire – financement de biens publics, redistribution et stabilisation macroeconomique – seule la derniere se justifie veritablement au niveau de la zone euro plutot que de l’Union europeenne. Une politique insoutenable dans un Etat membre destabilise l’ensemble de la zone, tandis que chaque politique nationale a aussi des effets de demande qui depassent les frontieres. Le « chacun pour soi » affaiblit la zone euro, mais la coordination des dix-neuf budgets nationaux s’avere extremement difficile.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115325342","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Profils de l'investissement et divergences de performances","authors":"Mauro Napoletano, Francesco Vona, Jean-Luc Gaffard","doi":"10.3917/REOF.144.0313","DOIUrl":"https://doi.org/10.3917/REOF.144.0313","url":null,"abstract":"L’etude empirique comparative montre que la composition de l’investissement compte bien davantage que son niveau global. C’est moins le taux d’investissement que la nature des investissements effectues et leur degre de complementarite qui affectent naturellement la performance des entreprises et de l’economie.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133846948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Faut-il négocier notre avenir climatique au moyen de quantités d’émissions ou de prix du carbone ?","authors":"É. Laurent","doi":"10.3917/NEG.024.0039","DOIUrl":"https://doi.org/10.3917/NEG.024.0039","url":null,"abstract":"Cet article se propose de discuter la pertinence de l’unite actuelle des negociations climatiques : la tonne de CO2. Apres avoir montre les limites fondamentales de cette approche par les quantites au regard des dynamiques passees, actuelles et previsibles d’emissions de gaz a effet de serre, l’article propose de developper en vue de la COP 21 les jalons d’une approche par le prix du carbone. Celle-ci ouvre sur une negociation ayant pour fondement la valeur sociale du carbone qui renvoie aux enjeux de justice intra-generationnelle et intergenerationnelle dont la mise en lumiere est susceptible de faire progresser des negociations climatiques encore trop peu avancees.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133352512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Split-Panel Jackknife Estimation of Fixed-Effect Models","authors":"G. Dhaene, Koen Jochmans","doi":"10.1093/RESTUD/RDV007","DOIUrl":"https://doi.org/10.1093/RESTUD/RDV007","url":null,"abstract":"Maximum-likelihood estimation of nonlinear models with fixed effects is subject to the incidental-parameter problem. This typically implies that point estimates suffer from large bias and confidence intervals have poor coverage. This paper presents a jackknife method to reduce this bias and to obtain confidence intervals that are correctly centered under rectangular-array asymptotics. The method is explicitly designed to handle dynamics in the data and yields estimators that are straightforward to implement and that can be readily applied to a range of models and estimands. We provide distribution theory for estimators of index coefficients and average effects, present validity tests for the jackknife, and consider extensions to higher-order bias correction and to two-step estimation problems. An empirical illustration on female labor-force participation is also provided.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115145243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Challenges for the ECB in times of deflation","authors":"F. Saraceno","doi":"10.1163/2210-7975_hrd-4022-2015037","DOIUrl":"https://doi.org/10.1163/2210-7975_hrd-4022-2015037","url":null,"abstract":"This paper highlights how European Monetary Union (EMU) governance, as designed by the Maastricht Treaty and subsequent modifications, is unfit to deliver sound and effective macroeconomic management that is conducive to sustained and sustainable economic prosperity for all Europeans.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126830365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Welfare Cost of Inflation Risk under Imperfect\u0000 Insurance","authors":"O. Allais, Y. Algan, E. Challe, X. Ragot","doi":"10.15609/annaeconstat2009.138.0001","DOIUrl":"https://doi.org/10.15609/annaeconstat2009.138.0001","url":null,"abstract":"What are the costs of inflation fluctuations and who bears those costs? In this paper, we investigate this question by means of a quantitative incomplete-market, heterogenous-agent model wherein households hold real and nominal assets and are subject to both idiosyncratic labor income shocks and aggregate inflation risk. A key feature of our analysis is a nonhomothetic specification for households' preferences towards money and consumption goods. Unlike traditional specifications, ours allows the model to reproduce the broad features of the distribution of monetary assets (in addition to being consistent with the distribution of nonmonetary assets). Inflation risk is found to generate significant welfare losses for most households, i.e., between 1 and 1.5 percent of permanent consumption. The loss is small or even negative for households at the very top of the productivity and/or wealth distribution.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"75 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127420047","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pour une politique macroéconomique d’ensemble en zone euro","authors":"A. Bénassy-Quéré, Xavier Ragot","doi":"10.3917/NCAE.021.0001","DOIUrl":"https://doi.org/10.3917/NCAE.021.0001","url":null,"abstract":"Alors que la reprise parait bien engagee aux Etats-Unis et au Royaume-Uni, la zone euro peine a seredresser, sans avoir pourtant subi de choc specifique depuis 2012. On peut s’interroger sur la responsabilite des politiques macroeconomiques menees dans la zone, autant que sur les problemes plus structurels qui aff ectent les Etats membres. L’objet de cette Note est d’identifier les defaillances de pilotage macroeconomique dans la zone euro et de recommander des reamenagements pragmatiques, tout en esquissant des pistes pour une reforme plus profonde. La crise de la zone euro a montre les limites de la coordination des politiques economiques des Etats membres, reduite de facto a la question de la soutenabilite budgetaire. Trois canaux essentiels d’interaction entre les politiques economiques des Etats membres ont ete negliges depuis 1999, sans que les reformes recentes aient sensiblement corrige ce probleme. La competitivite, tout d’abord : en ne surveillant pas de maniere coordonnee l’evolution des couts et des salaires par rapport a leurs principaux partenaires, les pays de la zone euro ont laisse s’installer entre eux d’importantes divergences nominales. Les desequilibres financiers, ensuite : si l’endettement public a mobilise l’attention, il n’en a rien ete de l’endettement prive ; or, ces desequilibres financiers ont renforce les divergences nominales. La gestion de la demande, enfin : en ne se coordonnant pas suffisamment pour gerer les consequences de la crise financiere, les pays de la zone euro ont entretenu un deficit de demande. Cela signifie que la coordination des politiques economiques doit s’etendre, au-dela de la surveillance de l’endettement public, aux politiques de competitivite, de gestion de la demande et a la politique macro-prudentielle. La gouvernance macroeconomique de la zone euro, materialisee par le « semestre europeen », souffre de trois faiblesses importantes : un niveau zone euro insuffisamment developpe et mal integre au niveau Etats membres ; une ligne de partage peu claire entre la surveillance de court moyen terme (desequilibres budgetaires et macroeconomiques) et celle de long terme (Strategie de croissance Europe 2020) ; une mauvaise appropriation au niveau national des recommandations formulees au niveau europeen. Pour progresser a court terme sur ces trois axes, il n’est pas besoin de modifier les instruments et encore moins les regles, mais il faut mieux les articuler. Nous formulons huit recommandations pour donner tout son sens au semestre europeen, mieux integrer le niveau de la zone euro avec celui des Etats membres et reequilibrer la surveillance entre le budgetaire, le macro-prudentiel et la competitivite. Ces recommandations doivent se comprendre comme une premiere etape vers une integration plus poussee.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127756442","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Lesson of the Crisis for EU Policy Making","authors":"F. Saraceno","doi":"10.3917/POEU.050.0070","DOIUrl":"https://doi.org/10.3917/POEU.050.0070","url":null,"abstract":"Les lecons de la crise pour le systeme politique europeen L’article examine la vision dominante de la crise de l’UEM, souvent attribuee a Berlin, et exprimant un consensus macroeconomique qui emergea dans les annees 1990. Ce consensus se fonde sur le refus des politiques discretionnaires, particulierement en matiere fiscale, laissant au jeu du marche le soin de repondre aux choses macroeconomiques. Ce consensus constitua non seulement la reponse a la crise mais il fut a la base de la fondation de certaines institutions par le traite de Maastricht (mandat de la BCE et regles fiscales). Le papier met en avant les limites de cette approche. Des institutions s’inspirant du fonctionnement d’une federation seraient necessaires pour reduire les disparites et repondre aux crises economiques a venir.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"110 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115739901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Quelle est l'efficacité des aides publiques au logement ?","authors":"Pierre Madec","doi":"10.3917/LECO.065.0047","DOIUrl":"https://doi.org/10.3917/LECO.065.0047","url":null,"abstract":"Plus de 40 milliards d’euros sont consacres chaque annee a la politique du logement. Avec des resultats pour le moins mitiges… Aides a la personne et multiples aides a la pierre sont passees au crible de l’expertise economique. Les impots sur le logement constituent aussi un instrument important, qui pourrait etre mieux utilise.","PeriodicalId":325508,"journal":{"name":"Sciences Po publications","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125041400","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}