BIENVENUE SUR LE SITE DU LABORATOIRE D’ECONOMIE DE DAUPHINE (LEDa) (UMR CNRS 8007, UMR IRD 260)

Le LEDa, Laboratoire d’Economie de Dauphine,  est une unité de recherche créée en 2009. Il regroupe l’ensemble des enseignants-chercheurs économistes de l’Université Paris Dauphine ainsi que des chercheurs IRD et CNRS. 

Ses recherches orientées dans le sens de l’aide à la décision concernent plusieurs enjeux de société de large spectre : santé et vieillissement, développement et mobilités, politiques macroéconomiques, environnement et climat ainsi que la finance. Elles se nourrissent de réflexions théoriques portant sur les fondements micro-économiques, l’économie du bien-être, les structures des marchés et des interactions, et  la question du risque.

Le LEDa compte 142 membres : 63 enseignants chercheurs, 13 chercheurs IRD et CNRS et 60 doctorants et une équipe administrative de 6 personnes.

Contact

Directeur du LEDa
Philippe De Vreyer
philippe.devreyerping@dauphine.pslpong.eu

Responsable administratif
Cecile Billois Fontalavie
cecile.billois-fontalavieping@dauphine.pslpong.eu
Bureau P 143
tel: (33) 01 44 05 45 42

Adresse

Université Paris-Dauphine

Place du Maréchal de Lattre de Tassigny
75775 Paris cedex 16
Tel 01 44 05 44 05

Plan d'accès

Évaluation HCERES 2017-2018

Dernières publications

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Publications de l'Université Paris-Dauphine : LEDa

  • Daudin G., Héricourt J., Patureau L. (2022), Coûts de transport internationaux : Nouveaux résultats issus de la modélisation des coûts additifs, Document de travail (Docweb) - CEPREMAP, 61

    Les coûts du transport international ont une part additive. Quelle est l'ampleur de cette dernière ? Est-ce important pour l'analyse économique ? Cet article apporte de nouvelles réponses à ces questions. A cet effet, nous développons une méthodologie empirique permettant de distinguer précisément les composantes multiplicative et additive des coûts de transport internationaux, que nous appliquons sur des données exhaustives d'importations pour les États-Unis sur la période 1974-2019. L'analyse révèle que la composante additive représente une partie significative des coûts de transport totaux, comprise entre 30 et 45% selon l'année et le mode de transport considéré. Dans un second temps, nous évaluons les conséquences pour l'analyse économique de cette importance des coûts additifs, sous deux angles différents. Tout d'abord, la modélisation de coûts additifs variables modifie la décomposition de la tendance temporelle des coûts de transport, entre d'une part la réduction des coûts de transport "purs" et d'autre part les effets de composition du commerce, ces derniers jouant un rôle mineur. Par la suite, nous réévaluons les gains de bien-être produits par la réduction des coûts de transport en présence de coûts additifs. A cet égard, nous mesurons les variations de bien-être induites par l'accélération du commerce international observée à partir des années 1980 et le phénomène d'hyper-mondialisation, ainsi que le rôle-clé des coûts de transport additifs dans la détermination de ces variations de bien-être. Nous montrons ainsi que négliger la composante additive des coûts de transport conduit à sous-estimer considérablement les gains de bien-être produits par la décrue de ces coûts. International transport costs do have an additive part. How large is it? Does it matter?This paper provides new answers to these questions. Using information contained in the US imports flows from 1974 to 2019, we develop an empirical model that disentangles the ad-valorem and the additive components of international transport costs. The per-unit component of transport costs rep-resents a sizeable share of total transport costs, between 30% and 45% depending on the year and the transport mode considered. We then investigate the important consequences of additive costs, under two different perspectives. First, modelling varying additive costs modifies the decomposition of transport costs time trend between the reduction in "pure" transport costs and trade composition effects, the latter playing a minor role. Second, we revisit the welfare gains of the transport costreduction in presence of additive costs. In this regard, we shed light on the welfare variations in-duced by the international trade acceleration and the "hyper-globalization", as well as the key role of additive transport costs in determining those welfare variations. Neglecting the additive component substantially underestimates the welfare gains of the transport cost decrease.

  • Epaulard A., Zapha C. (2021), Coûts de la faillite et efficacité des procédures de restructuration préventive, Documents de Travail de la Banque de France, Paris, La Banque de France, 58

    Une récente directive européenne invite les États membres à la mise en place de procédures de restructuration préventive dans leur droit commercial. Ce papier évalue l'intérêt d'implémenter une procédure distincte de celle qui existe pour les entreprises insolvables. Il s'appuie sur l'expérience française caractérisée par la coexistence, depuis 2006, d'une procédure préventive (la sauvegarde) avec une procédure de restructuration plus courante (le redressement judiciaire, ou « RJ »). L'objectif est d'isoler, pour deux entreprises à la situation initialement similaire, l'effet de réputation associé au RJ par rapport à la sauvegarde. L'hétérogénéité spatiale et temporelle des décisions des tribunaux de commerce permet d'identifier l'impact causal (exogène aux caractéristiques de l'entreprise) du passage de la sauvegarde au RJ sur les chances de survie de l'entreprise. En utilisant un échantillon (presque) exhaustif des ouvertures de sauvegarde sur la période 2010-2016, nous montrons que la conversion en RJ réduit la probabilité de survie de l'entreprise de 50 p.p., ce qui correspond à des coûts indirects associés à la faillite d'environ 20 % de la valeur de l'entreprise. Notre interprétation, appuyée par des preuves empiriques, est que le faible taux de réussite du RJ peut alarmer certaines des parties prenantes de l'entreprise, en particulier ses clients. La procédure préventive de sauvegarde permet donc de prévenir une spirale auto-réalisatrice souvent présente en RJ. A European directive requires Member States to give firms access to preventive restructuring procedures. This paper assesses the interest of a procedure distinct from that for insolvent firms. It is based on the French experience, where a preventive procedure has coexisted with the more common restructuring procedure since 2006. The spatial and temporal heterogeneity of the Commercial Courts' decisions allows the identification of the causal impact of the conversion from the preventive procedure to the common one on the firm's survival chances. Using an (almost) exhaustive sample of preventive bankruptcy fillings over 2010-2016, we show that conversion reduces the probability of firm survival by 50 p.p., which corresponds to indirect bankruptcy costs of around 20% of the firm assets. Our interpretation is that the low restructuring rate under the common bankruptcy procedure may alarm some of the firm's stakeholders, especially its customers. This in turn aggravates the firm's difficulties and reduces its chances of restructuring under the common procedure. We provide some empirical evidence to support this interpretation. A distinct preventive procedure helps prevent this spiral.

  • Bassanini A., Caroli E., Fontaine F., Reberioux A. (2021), Escaping Social Pressure: Fixed-Term Contracts in Multi-Establishment Firms, IZA Discussion Papers, Bonn, IZA - Institut zur Zukunft der Arbeit, 64

    We develop a simple theoretical model showing that, by adding to the adjustment costs associated with permanent contracts, local social pressure against dismissals creates an incentive for CEOs to rely on fixed-term contracts, in an attempt to escape social pressure. Using linked employer-employee data, we show that establishments located closer to headquarters have higher shares of fixed-term contracts in hiring than those located further away whenever firms' headquarters are located in self-centered communities and the CEO not only works but also lives there. We show that these findings can only be explained by local social pressure.

  • Camatte H., Daudin G., Faubert V., Lalliard A., Rifflart C. (2021), Estimating the elasticity of consumer prices to the exchange rate: an accounting approach, European Central Bank Working Papers Series, Frankfurt am Main, European Central Bank, 59

    We analyse the elasticity of the household consumption expenditure (HCE) deflator to the exchange rate, using world input-output tables (WIOT) from 1995 to 2019. In line with the existing literature, we find a modest output-weighted elasticity of around 0.1. This elasticity is stable over time but heterogeneous across countries, ranging from 0.05 to 0.22. Such heterogeneity mainly reflects differences in foreign product content of consumption and intermediate products. Direct effects through imported consumption and intermediate products entering domestic production explain most of the transmission of an exchange rate appreciation to domestic prices. By contrast, indirect effects linked to participation in global value chains play a limited role. Our results are robust to using four different WIOT datasets. As WIOT are data-demanding and available with a lag of several years, we extrapolate a reliable estimate of the HCE deflator elasticity from 2015 onwards using trade data and GDP statistics.

  • Cogneau D., Dupraz Y., Mesplé-Somps S. (2021), Fiscal Capacity and Dualism in Colonial States: The French Empire 1830-1962, The Journal of Economic History

    What was the capacity of European colonial states? How fiscally extractive were they? What was their capacity to provide public goods and services? And did this change in the "developmentalist" era of colonialism? To answer these questions, we use archival sources to build a new dataset on colonial states of the second French colonial empire (1830-1962). French colonial states extracted a substantial amount of revenue, but they were under-administered because public expenditure entailed high wage costs. These costs remained a strong constraint in the "developmentalist" era of colonialism, despite a dramatic increase in fiscal capacity and large overseas subsidies.

  • Laffitte S., Martin J., Parenti M., Souillard B., Toubal F. (2021), Taxation of Multinationals: Design and Quantification,, Paris, Conseil d'analyse économique, 13

    Minimum corporate taxation is the second Pillar of the reforms of international corporate taxation. It is a simple and powerful tool that could curb profit shifting towards low or no tax jurisdictions. Its implementation would allow France to tax the profits that French headquarters have shifted to tax havens, but also to reduce the erosion of its tax base. We estimate the French corporate income tax (CIT) revenues would increase by almost 6 billion euros in the short run after the implementation of an effective minimum tax rate of 15% and by 8 billion euros at a rate of 21%. CIT gains may vary substantially depending on the scope of the tax base, the possibility of headquarters' inversion, and whether it includes domestic corporations or not. CIT gains are relatively higher in France than in Germany or the United States. The expected gains are substantially larger than those to be expected from the implementation of the first Pillar of the reform in its version proposed by the US in April 2021, which opens up rights to tax the 100 largest corporations in the world according to their sales' destination. According to our estimates, Pillar One would bring in about 900 million euros for France.

  • Sakovics J., Forges F. (2021), Tenable threats when Nash equilibrium is the norm, Edinburgh School of Economics Discussion Paper Series, Edimburg, University of Edimburg, 21

    We formally assume that players in a game consider Nash Equilibrium (NE) thebehavioral norm. In önite games of perfect information this leads to a reönementof NE: Faithful Nash Equilibrium (FNE). FNE is outcome equivalent to NE of theìtrimmedî game, obtained by restricting the original tree to its NE paths. Thus,it always exists but it need not be unique. Iterating the norm ensures uniquenessof outcome. FNE may violate backward induction when subgame perfection requires play according to the SPE following a deviation from it. We thus provide analternative view of tenable threats in equilibrium analysis.

  • Mesplé-Somps S., Nilsson B. (2020), Role models and migration intentions, Papiers de recherche, Paris, AFD, 54

    Cet article examine l'impact du processus d'identification à des role model , c'est-à-dire des individus qui nous ressemblent mais qui ont accompli plus que nous, sur les aspirations à migrer. La méthode est une expérimentation randomisée contrôlée. Trois types de documentaires ont été diffusés en milieu rural dans la région de Kayes au Mali, mais tous se concentrent sur les opportunités économiques : deux montrent des portraits négatifs ou positifs de migrants, tandis que le troisième présente des individus originaires de la région étudiée qui ont réussi à créer des entreprises florissantes sans jamais envisager de migrer. De fait, cet article participe au débat plus large sur l'efficacité de la fourniture d'informations. Nous trouvons très peu d'impacts moyens significatifs, dont aucun n'est robuste au contrôle de l'attrition par la méthode non paramétrique de bornes inférieures et supérieures. L'hétérogénéité des impacts est examinée à l'aide d'un algorithme de forêt causale, qui, outre confirme les effets moyens de traitement, suggère la présence d'une hétérogénéité. Il semble que les personnes dont les conditions de vie pourraient faciliter la migration sont moins susceptibles d'être touchées de manière significative par le visionnage des documentaires. Enfin, nous étudions des mécanismes potentiels. Des aspirations élevées à améliorer les conditions de vie, associées à un fort sentiment de manque de contrôle sur l'avenir, sont de possibles facteurs explicatifs au fait que les confrontations avec des expériences de vie réelles ne modifient pas de manière significative les aspirations moyennes à migrer. Role models---those individuals who resemble us but have achieved more than us--- are thought to impact our aspirations. In this paper, we study the impact of role models on intentions to migrate. Specifically, we implement a randomized controlled trial to show documentaries in rural villages of Mali (Kayes region). These documentaries focus on economic opportunities and show either negative or positive portraits of migrants, or portraits of local people who have successfully set up flourishing businesses without ever considering migration. This paper adds to the larger debate about the efficiency of information provision. We find very few significant impacts, none of which hold when attrition is controlled for using non-parametric Lee bounds. We also implement a treatment heterogeneity analysis using a causal forest algorithm, which aside from confirming our average treatment effects suggests the presence of heterogeneity. It appears that individuals with living conditions that could facilitate migration are less likely to be significantly impacted. The high aspirations to improve living conditions, coupled with a strong feeling of lack of control over the future may help explaining the fact that confrontations with real life experiences do not significantly modify average aspirations to migrate.

  • Camatte H., Daudin G., Faubert V., Lalliard A., Rifflart C. (2020), Chaînes de valeurs et transmission de chocs de taux de change sur les prix à la consommation, Documents de Travail de la Banque de France, Paris, Banque de France, 47

    Following the 2008 financial crisis, inflation rates in advanced economies have been at odds with the prediction of a standard Phillips curve. This puzzle has triggered a debate on the global determinants of domestic prices. We contribute to this debate by investigating the impact of exchange rate shocks on consumer prices from 1995 to 2018. We focus on cost-push inflation through global value chains, using three sectoral world input-output datasets. Depending on countries, the absolute value of the elasticity of the household consumption expenditure (HCE hereafter) deflator to the exchange rate ranges from 0.05 to 0.35, confirming the importance of global value chains in channelling external shocks to domestic inflation. Using data from WIOD on a sample of 43 countries, we find that the mean output-weighted elasticity of the HCE deflator to the exchange rate increased in absolute value from 0.075 in 2000 to 0.094 in 2008. After peaking in 2008, it declined to 0.088 in 2014. World Input-Output tables (WIOT hereafter) are released with a lag of several years and the latest WIOT dates back to 2015. To fill this gap, we approximate the impact of an exchange rate shock on the HCE deflator from 2016 onwards using up-to -date GDP and trade data. Our extrapolations suggest that the decline in the elasticity of the HCE deflator continued until 2016, before reversing in 2017 and 2018. Our findings are robust to using three different datasets.

  • Tritsch I., Le Velly G., Mertens B., Meyfroidt P., Sannier C., Makak J-S., Houngbedji K. (2020), Do forest-management plans and FSC certification help avoid deforestation in the Congo Basin ?, Ecological Economics, 175, p. 106660

    To allow for the production of timber while preserving conservation values, forestry regulations in the Congo Basin have made Forest Management Plans (FMP) mandatory in logging concessions. This paper uses original high-resolution maps of forest-cover changes and official records on the activities of logging concessions to analyze the impact of FMP on deforestation in this region. We apply quasi-experimental and difference-in-difference approaches to evaluate the change in deforestation in concessions managed under an approved FMP. We find that between 2000 and 2010, deforestation was 74% lower in concessions with an FMP compared to others. Building on a theory of change, further analyses revealed that this decrease in deforestation takes time to occur and is highest around communities located in and nearby logging concessions, and in areas close to previous deforestation. These findings suggest that FMP help avoid deforestation by allowing logging companies to rotate cycles of timber extraction, thereby avoiding the overexploitation of areas that were previously logged, and by the better regulation of access to concessions by closing former logging roads to limit illegal activities such as shifting agriculture, hunting and the illegal harvest of timber or fuel-wood.