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The motivation of this article is to better understand the determinants of international banking integration of non-Euro CESEE EU Members. One stylized fact for these economies is the building up of external financial vulnerabilities since the beginning of the Transition period, with a large weight of cross-border banking, particularly with the European Union. In relation with the literature on the impact of gross financial flows on financial stability, we therefore estimate the long-term historical, geographical and cultural determinants of cross-border banking claims with a bilateral financial gravity model. We then analyze the impact of domestic (pull), foreign (push) and global factors using the gravity framework. Our results first show that cross-border banking in these economies is significantly driven by geographical proximity and common historical links, particularly with EU Member States. Second, we find that banking sector health variables are more significant as push factors, while structural banking system variables are more significant as pull factors. These results provide evidence in favor of an impact of European banking systems on financial liabilities in this region, in relation with the very high level of EU ownership of banking assets. Finally, US global liquidity factor matters more than exchange rate stability, which points towards policy dilemma effect in the region.; La motivation de cet article est de comprendre les déterminants de l’intégration bancaire des pays d’Europe Centrale et du Sud-Est membres de l’Union Européenne. Un fait stylisé commun est l’accroissement des vulnérabilités financières externes de ces économies depuis la période de transition post communiste, avec un large poids des créances bancaires transfrontières, particulièrement détenues par les pays de l’Union Européenne. En lien avec la littérature sur l’impact des flux bruts de capitaux sur la stabilité financière, nous cherchons à identifier dans un premier temps les déterminants historiques, géographiques et culturels de long terme des créances bancaires transfrontières dans le cadre d’un modèle de gravité financier bilatéral en panel. Puis nous identifions les facteurs domestiques, étrangers et globaux pouvant influencer les créances transfrontières dans un cadre gravitaire grâce à l’estimation d’une spécification à effets fixes bilatéraux. Nos résultats tendent à montrer l’importance des liens intra-européens comme facteurs de croissance des créances bancaires transfrontières, du fait de la significativité des variables de faible distance, d’histoire commune et d’appartenance à l’Union Européenne. Par ailleurs, nos résultats soulignent l’importance des facteurs environnementaux (étrangers et globaux) ainsi qu’un potentiel effet de dilemme de politique monétaire, avec un impact supérieur du facteur de liquidité globale par rapport à la stabilité du taux de change.

A generalized game is a situation in which interaction between agents occurs not only through their objective function but also through their strategy sets; the strategy set of each agent depends upon the decision of the other agents and is called the individual constraint. As opposed to generalized games with exogenous shared constraint literature pioneered by Rosen (1965), we take the individual constraints as the basic premises and derive the shared constraint generated from the individual ones, a set . For a profile of strategies to be a Nash equilibrium of the game with individual constraints, it must lie in . But if, given what the others do, each agent agrees to restrict her choice in , something that we call an endogenous shared constraint, this mutual restraint may generate new Nash equilibria. We show that the set of Nash equilibria in endogenous shared constraint contains the set of Nash equilibria in individual constraints. In particular, when there is no Nash equilibrium in individual constraints, there may still exist a Nash equilibrium in endogenous shared constraint. We also prove a few results for a specific class of generalized games that we call non-classical games. Finally, we give two economic applications of our results to collective action problems: carbon emission and public good problems.

International audience; We consider agents organized in an undirected network of local complementarities. A principal with a fixed budget offers costly bilateral contracts in order to increase the sum of agents' effort. We study contracts rewarding effort exceeding the effort made in the absence of the principal. First, targeting a subgroup of the whole society becomes optimal under substantial contracting costs, which significantly increases the computational complexity of the principal's problem. In particular, under sufficiently low intensity of complementarities, a correspondence is established between optimal targeting and an NP-hard problem. Second, for any intensities of complementarities, the optimal unit returns offered to all targeted agents are positive for all contracting costs and in general heterogeneous, even though networks are undirected. Yet, heterogeneity never leads to negative returns, which implies that, with these linear payment schemes, coordination is never an issue for the principal.

International audience

Multiple selves is a conventional assumption in behavioural welfare economics for modelling intrapersonal well-being. Yet an important question is which self has normative authority over others. In this paper, we advance an argument for what we call the ‘ontological approach’ to personal identity in behavioural welfare economics. According to this approach, ethical questions – such as which preference should be granted normative authority over another – can be informed by the ontological criterion of personal persistence, which aims at determining what it takes for an individual to persist from one time to another.

International audience; What does Adam Smith mean by "good government"? How is it related to his political economy and system of natural liberty? No extensive or specific treatment of these hermeneutical issues has been given in Smith's scholarship. Answering these questions is fundamental to having a new interpretation of the various links between the legal, political, ethical and economic aspects of Smith's view of social order. The great theme of good government, which runs through the whole history of Western political-legal thought, if read in relation to the system of natural liberty, provides a different understanding of the thought of Smith on "Political Economy" as the "science of a statesman or legislator" and the new art of good government. Our reconstruction of Smith's view of good government aims to cast light on and give a new significance to his unfinished project of a new science of society.

International audience; In this article, I analyse the functioning of convertible local currencies (CLC) through the economic base theory. I thereby highlight CLC' mechanisms that can contribute to the development of the territorial economy, in particular the internalisation of their members' demand inside their communities. Indeed, CLCs might impact the circulation of income within the local economy by limiting the outflow of income from the territory and increasing its circulation within the domestic sector. CLCs therefore fit more specifically into consumer base theory, which promotes endogenous territorial development by directing local demand towards local production. However, CLCs users gather only a fraction of local actors, their members having to choose to join and, for companies, to be certified by the managing organisations. CLCs therefore only support the development of specific communities, who share similar values and practices, but whose growth can transform territorial economies.Nevertheless, in order for the demand internalisation to really benefit the economic development of their sub-territorial community, it is necessary to determine whether it really irrigates productive activities and not only distribution ones. To investigate which part of the economy is mostly supported by the internalisation of the users’ demand, I analyse the digital transaction data from the SoNantes and the Eusko, two French CLCs. The two CLCs are essentially implanted in the domestic sectors. If the SoNantes integrates more companies dedicated to productive activities support than the Eusko, the two CLCs mainly irrigate activities geared towards distribution and household consumption. The circulation of income from these sectors to productive activities remains low, limiting their economic development support potential.; Dans cet article, nous analysons le fonctionnement des monnaies locales convertibles (MLC) au travers de la théorie de la base économique. Nous mettons ainsi en évidence les mécanismes des MLC pouvant favoriser le développement de l’économie territoriale, notamment l’internalisation de la demande de leurs membres. Les utilisateurs des MLC ne représentent qu’une fraction des acteurs du territoire. Les MLC soutiennent donc le développement de sous-communautés spécifiques, mais dont la croissance peut transformer les économies territoriales. L’analyse des données de transaction numérique de la SoNantes et l’Eusko dévoile les sphères économiques empiriquement soutenues par les MLC. Ainsi, ces deux MLC françaises s’implantent essentiellement dans les secteurs domestiques et si, la SoNantes intègre des entreprises dédiées au soutien à des activités productives, les deux MLC irriguent majoritairement des activités de distribution et de consommation courante à destination des ménages. La transmission des recettes perçues par ces secteurs à des activités productives demeure faible, limitant le réel potentiel de développement économique des MLC.

International audience; This paper presents the way the digital transformation of the agricultural sector is implemented in Europe and in France. It describes the main European and national strategies, the structure of research and innovation initiatives, and the investment in capacity building to foster innovation, adoption and use. More specifically, the French research and innovation ecosystem on digital agriculture is described. The actors involved come from different organisations, such as research and higher educational institutes, government agencies, agricultural technology (AgTech) companies, farmer unions etc., and work together by means of associations (e.g. Robagri), networks (e.g. RMT Naexus, DigiFermes, Fermes Leader), or living labs (e.g. Occitanum) on both digital technology assessment and co-design. Additionally, support is devoted to capacity building (e.g. Le Mas numérique, Mobilab) and a better understanding of the drivers of adoption and use of digital technologies (e.g. FrOCDA). Among these various organisations, #DigitAg, the Digital Agriculture Convergence Lab, has been created to foster interdisciplinary research on digital agriculture. All these initiatives aim to use digital technologies to support the European Green Deal, Farm-to-Fork and Biodiversity strategies as well as the French orientation towards more agroecological practices for safer and more sustainable food systems. Even though this organisational ecosystem is developing fast, the objective of encouraging the coevolution of both digital and green transformations is not without challenges that still need to be overcome, either through new research, innovations, initiatives or collaborations between the actors involved.

International audience; Many researchers, policy makers and food activists view Short Food Supply Chains (SFSC) as attractive levers for improving farm income and the sustainability of farming systems. However, the empirical evidence documenting the association between SFSC participation and farm economic performance has been mixed. In this study, through a meta-analysis using a logistic regression, we identify key factors to explain differences between studies that find better economic performance in SFSC and those that do not. Our meta-analysis consists of 48 studies published in English and French from 2000 to 2022 that examine the economic performance of farms engaged in SFSC. Based on far more empirical evidence than previous reviews, we find that the relationship between SFSC participation and farmer income remains ambiguous. More specifically the findings indicate that the reported effect of SFSC on a farm economic performance varies depending on location and the indicator used to capture the economic performance of farms. Studies conducted in Europe are more likely to report higher farmer income as are studies that use profit satisfaction metrics rather than measures of gross or net income. We also emphasize the need to interpret the reported results cautiously because few are based on causal inference methods. Furthermore, the very few studies that account for selection bias often do so with inadequate corrections.

Review of: Le Hellfest: Un pèlerinage pour metalheads (Hellfest: A Pilgrimage for Metalheads), Corentin Charbonnier (2017) Azay-sur-Cher: Corentin Charbonnier éditions, 208 pp., ISBN 978-2-95587-890-3, p/bk, €17

International audience; This paper examines the distributional implications of inflation on top income shares in 14 advanced economies using data over the period 1920–2016. We use local projections to analyze how top income shares respond to an inflation shock, and panel regressions in which all variables are defined as 5-year averages to examine the impact of inflation on the position of the top-one-percent in the long run. Our findings suggest that inflation reduces the share of national income held by the top 1 percent. Furthermore, we find that inflation shocks and long-run inflation have similar effects on top income shares.

International audience; This literature review covers recent works dealing with the ultimate causes of economic development. The article first considers the driving role of the rules of the social game. Then the focus shifts to the role of historical circumstances. Finally, we seek to understand how geography can influence development paths. These studies are multidisciplinary and use new databases. The results should not imply that there is a cultural, historical or geographical determinism. That is, historical contingencies and economic policy decisions can foster lasting changes in development trajectories.

International audience; Exloring the role of different types of investors on stock market is crticial since different types of investors react and behave differently when making investment decision. The role of investor behavior is a very important issue in an immature stock market like Vietnam stock market because the market is characterized by a large number of individual investors and low reporting standard. Institutional and foreign investors however play an influential role due to their large exposure and strong investment expertise. Clearly, examining the role of investor behavior and its impact on the stock market in Vietnam is an important topic in finance. A significant body of empirical research has shown that investor behavior is an essential factor to explain stock price that the classical financial theory cannot explain. This research examines the role of investor behavior in stock market by examining the relationship between investor behavior and stock return using the Vietnamese stock exchange data. We create a sentiment index using the principal components analysis (PCA). Consistent with the sentiment and stock return literature, the research shows a negative contemporaneous relationship between investor sentiment and market return.

This study presents an analytical framework for examining how remanufacturing rate, consumer buying behavior, and consumer preferences impact a supply chain's economic and environmental outcomes. An original equipment manufacturer and a third-party remanufacturer make decisions influenced by the competitive leverage of relicensing fees and the maximum available quantity of remanufactured products. We analyze this monopoly scenario in a two-period model, assuming that consumers are strategic. The remanufacturing rate has a nonmonotonic impact on the economic outcomes of this supply chain system, and excellent environmental improvement is not an inevitable consequence of a high remanufacturing rate.

In its 2021 strategy review, the European Central Bank's Governing Council unanimously decided to make climate change one of its priorities for the coming years. In this article, we try to understand how this change was achieved. To do so, we rely on mixed methods, studying ECB policies, speeches, exchanges with the European Parliament, and conducting semi-structured interviews. We present a detailed account of the rapid changes within the ECB regarding the climate challenge, and attempt to unpack its conditions of possibility. We show that climate integration results from the combination and hybridisation of internal dynamics and external pressures. On the one hand, the renewal of the Executive Board and modifications in organisational dynamics secured a growing coalition for a change. On the other, pressures from politicians, NGOs, academics and citizens pushed the institution to develop its expertise and provided willing insiders with further argumentative resources to push their green agenda. While these two intertwined dynamics have allowed ‘green doves’ to forge a consensus around the climate action plan, disagreements remain within the Governing Council on the scope and shape of future greening efforts.

International audience; When hit with an adverse shock, banks that do not comply with capital regulation sell risky assets to satisfy their solvency constraint. When financial markets are imperfectly competitive, this naturally gives rise to a GNEP. We consider a new framework with an arbitrary number of banks and assets, and show that Tarski's theorem can be used to prove the existence of a Nash equilibrium when markets are sufficiently competitive. We also prove the existence of ϵ-Nash equilibria.

We study the consequences of a working time reduction (WTR hereafter) in an exogenous growth model with unemployment (due to efficiency wage considerations) and a renewable natural resource. The resource is an essential input whose marginal productivity is bounded by physical laws. In the laissez-faire equilibrium, firms set headcount employment, working time and a wage level which affects workers’ effort. We show that if a WTR always decreases the total number of worked hours, its impact on the number of (un)employed crucially depends on the relative scarcity of the resource. If the ressource inflow is unlimited, the economy converges toward a balanced growth path and a WTR lowers the levels of output, employment and wages along this path, without affecting their growth rate. When the resource inflow is finite, the economy converges toward a stationary state. In this case, a WTR increases the stationary level of hourly wages and employment if the resource is scarce enough (which is for instance the case if the labour and capital saving technical progress is unbounded). Furthermore, the long-term elasticity of employment (resp., of the hourly wage) to the cut in hours is larger (resp., smaller) when the resource is scarcer. The transitory dynamics toward the stationary state is studied numerically. As far as the impact of a WTR on employment and wage are concerned, this analysis confirms the results put forward for the stationary state

Can tax regimes shape the incentives of governments to engage in armed conflict? India’s Maoist belt contains a large share of the country’s most valuable mineral deposits. Indian mining royalties benefit the States, but they are set by the central government. States are largely responsible for counter-insurgency operations within their territory. Therefore, the royalty regime could shape the incentive of states to support counter-insurgency efforts. This paper exploits the introduction of a 10% ad valorem tax on iron ore that was responsible for a 10-fold increase in royalty collections by the affected State governments. In a panel of district-level violence outcomes between 2007 and 2013, we find that the royalty hike was followed by a significant intensification of violence in districts with iron ore deposits compared to other areas. We also show that the higher royalty rates are followed by an increase in illegal mining activity, suggesting that the control of mineral resources underpins the observed intensification in violence.

This paper studies the prevalence of potential anticompetitive effects of vertical mergers using a novel data set on U.S. and international buyer-seller relationships and across a large range of industries. We find that relationships are more likely to break when suppliers vertically integrate with one of the buyers’ competitors than when they vertically integrate with an unrelated firm. This relationship holds for both domestic and cross-border mergers and for domestic and international relationships. It also holds when instrumenting mergers using exogenous downward pressure on the supplier’s stock prices, suggesting that reverse causality is unlikely to explain the result. In contrast, the relationship vanishes when using rumored or announced but not completed integration events. Firms experience a substantial drop in sales when one of their suppliers integrates with one of their competitors. This sales drop is mitigated if the firm has alternative suppliers in place. These findings are consistent with anticompetitive effects of vertical mergers, such as vertical foreclosure, rising input costs for rivals, or self-foreclosure. This paper was accepted by Joshua Gans, business strategy. Funding: This work was supported by a Banque de France/Sciences Po Partnership. Supplemental Material: The data files and online appendices are available at https://doi.org/10.1287/mnsc.2022.4363 .

International audience; This study assesses the impact of foreign direct investment (FDI) inflows on economic growth and domestic investment in a panel of Economic Co-operation and Development (OECD) countries during the period of 1990–2017 by utilizing the method of fixed-effects and system generalized method of moments (GMM). The findings show that FDI inflows are positively and significantly associated with the economic growth of the host economy. When considering the origin of FDI, we find that FDI from developed countries contributes to the growth rate in the receiving economy, while FDI from developing countries shows no significant effect. Importantly, FDI does not appear to crowd in or out domestic investment. Only FDI from developed countries is associated with crowding in of domestic investment.

We analyze the conflict between king Louis XV and the venal office-holders who were members of the French parliaments throughout the eighteenth century. There are contrasting views as to the nature of this confrontation. We consider that the parliaments cooperated with the king as long as their rents were protected. However, they opposed political measures that were likely to harm them. In particular, the introduction of a competing body of civil servants, the intendants, was a major cause of conflict, as they were responsible for the enforcement of reforms that reduced the privileges of office-holders. We propose an analytical narrative of the late French Old Regime and provide an empirical test of our predictions. The data suggest that the political opposition of the French parliaments was primarily a response to the king’s reform agenda on matters that would reduce their income and political power.

International audience; Stay-at-home policies during the COVID-19 pandemic challenged household members who faced forced cohabitation and increased housework (domestic chores and childcare). Based on individual data collected online from partnered women during the spring 2020 in France, we study the lockdown effects on housework division and conflicts between partners. We find that during the lockdown, couples experienced minor changes in the allocation of housework, mainly carried out by women. Simultaneously, men increased their participation in the production of household goods mainly through "enjoyable" or "quasi-leisure" activities. Our results suggest that the gendered connotation of domestic work can be context-dependent and not stable over time. Tensions between partners, reported by women, increased during the lockdown, and appear to be strongly correlated with an unequal division of housework. Overall, our results suggest that this period did not structurally affect the gender stereotypes at home.

International audience; This commentary puts into perspective two of the articles in this issue, which analyse the impact of the COVID‑19 crisis on the allocation of time within families in France: one is written by Ariane Pailhé, Anne Solaz and Lionel Wilner and the other written by Hugues Champeaux and Francesca Marchetta. Both reveal that family arrangements appeared generally flexible, since time use changed significantly in the context of the crisis, leading to men becoming much more involved in household chores and parenting in particular. However, far from being unprecedented, this flexibility is compatible with a traditional division of roles according to gender. The changes observed may result from a model in which the man plays the role of a secondary worker in domestic production, who can be mobilised in the event of the unavailability of the primary worker, the woman. Decisions made by families in France are still anchored to gender norms; not only does this constitute a waste of resources, it also generates temporal inequalities that may manifest as intra‑family conflicts.

When vacancies are filled, the ads that were posted are often not withdrawn, creating "phantom" vacancies. The existence of phantoms implies that older job listings are less likely to represent true vacancies than are younger ones. We assume that job seekers direct their search based on the listing age and so equalize the expected benefit of a job application across listing age. Forming a match with a vacancy of age α creates a phantom of age α with probability β and this leads to a negative informational externality that affects all vacancies of age α and older. Thus, the magnitude of this externality decreases with the age of the listing when the match is formed. Relative to the constrained efficient search behavior, the directed search of job seekers leads them to over-apply to younger listings. We illustrate the model using US labor market data. The contribution of phantoms to overall frictions is large, but, conditional on the existence of phantoms, the social planner cannot improve much on the directed search allocation.

International audience; The concept of a circular economy has arisen in response to the problems related to the limits of the dominant linear economic system in contemporary societies and of the finite resources of our planet. The transition from waste status to a raw material by reusing it makes it possible to modify its value for future users and thus to redistribute this value. This article focuses on the case of spent grain to illustrate the role of the circular economy in food transition. Bases on a series of interviews, the paper discusses business modeling to operationalize sustainable development in the food sector and presents a discussion and conclusion on the advantages and limitations of the deployment of the circular economy in the brewing industry, taking into account and understanding the interests and constraints of various stakeholders.

National audience; En France, l’activité et l’emploi des femmes ont fortement progressé au fil des générations depuis les cohortes nées dans les années 1920, se rapprochant ainsi peu à peu des niveaux masculins. Cette progression a contribué à soutenir l’activité économique et le revenu des ménages. Elle a aussi joué un rôle important pour l’autonomie financière des femmes. Mais cette tendance est-elle encore vérifiée pour les plus jeunes générations ? Le niveau d’emploi des femmes continue-t-il à rattraper celui des hommes ? Utilisant les dernières données disponibles, Henri Martin dresse un panorama de ces évolutions.

International audience; Using an approach that embodies an explicit tradeoff between need and governance considerations, we propose an optimal aid allocation formula. We first assume exogenous, then endogenous governance. In the former case, a central concept is need-adjusted aid effectiveness while in the second case the donor has policing instruments under the form of monitoring and sanctioning capacities. We show that external disciplining has two advantages when the donor is sensitive enough to poverty intensity: (1) to cater to poor countries to a greater extent than is possible when local governance cannot be influenced by external forces, and (2) to respond (non-perversely) to improvements in the local governance of a country by raising its aid share. In institutionally weak countries, populations should welcome wisely applied donor's discipline as a way not only to get access to financial support but also to constrain their elites to refrain from abusing their position excessively. Imposing discipline when the release of externally-provided development funds is at stake seems more acceptable than aid directed to the explicit purpose of combatting corruption.

The crisis of 2007-08 called for a renewal of banking regulation that took the shape of a shift toward macroprudential policy. However, a comprehensive assessment of the current state of financial regulation reveals that this shift is incomplete. In particular, the notion of risk that lies at the heart of the Basel framework is still blind to extreme events. Climate risk and pandemic risk fall into this category. The purpose of this article is twofold. On the one hand, we point out why current banking regulation is not adequate to face risks whose origin is grounded outside financial markets – as is the case for both the pandemic and the climate risks –; on the other hand, we offer avenues for reforming macroprudential regulation in a way that would allow to take those risks into account.

International audience; This paper assesses how national leaders' quality of governance varies with their career and education. Using a sample of 1,000 rulers between 1931 and 2010, I identify three types of leaders: military leaders, academics, and politicians. Military leaders are associated with an overall negative performance, while politicians who have held important offices before taking power tend to perform well. Academics have on average non-significant effects. These results are partially driven by differences in policy decisions and in leadership styles. Military leaders spend less in health and education, are more likely to establish a personalistic regime, to disrespect the constitution, and to move towards a nonelectoral regime, while the reverse holds for politicians. Additionally, this paper highlights the weakness of using educational attainment as a proxy for politicians' quality, and of growth as a measure of national leaders' performance.

International audience; This paper studies how transit lines should be developed in polycentric cities. In several growing metropolitan areas, local authorities have to decide whether to rely on existing radial lines connecting suburban areas to the city-center, or to develop new circular lines directly connecting suburban areas. An efficient transit system aims at reducing external costs of transport (congestion and pollution) by attracting private car users. We study the effect of two types of policies on the modal split. First, we compare the effect of three administration regimes (public, semi-public and private) on the external costs of transport. Second, we consider the opening of a new transit line directly linking the suburbs. We find that it reduces aggregate user cost but is not Pareto-improving unless crowding is high on existing transit lines. Our analysis is complemented by a numerical illustration based on an open source Fortran program. This tool needs a relatively small set of data and can be used by policy makers wishing to investigate the pricing reforms or the possibility of opening a new transit line for a specific case study.

International audience; In the process of EU integration, toward the Eurozone (EA) accession, we try to understand, how changes in exchange rate regimes, attributed to the switch through the ERM-II and to the EA accession, influence the dynamic between inflation and unemployment, that is, swings on the Phillips curve coefficient. We look at a panel of EA countries, before and after their EA entry, over the last twenty years, using a recent work from McLeay and Tenreyro (2020), to clarify the impact of losing the monetary autonomy. Accession to the Eurozone leads to a non-significant inflation/unemployment relationship. We link this result to the fact that the small economies of the Eurozone do not have sufficient weight to influence the single monetary policy. This is corroborated by the fact that within the Eurozone, what we call the “economic leaders” maintain a significant trade-off between inflation and unemployment.

International audience; The war in Ukraine is shaking up the European energy scene and its dependence on Russia. This article analyzes the stakes and challenges for Europe of the Russian-Ukrainian conflict on the gas market. It first highlights the evolution and extent of the dependence of European economies on Russian gas and discusses the economic impacts that have been evident since the beginning of the hostilities. It then describes the various responses implemented in Europe to emancipate itself from this dependence. Finally, it discusses some of the blind spots in European decisions and outlines various ways to overcome them.; La guerre en Ukraine bouleverse la scène énergétique européenne et sa relation de dépendance à la Russie. Cet article analyse les enjeux et les défis, pour l’Europe, du conflit russo-ukrainien sur le marché gazier. Il met d’abord en évidence l’évolution et l’ampleur de la dépendance des économies européennes au gaz russe et en discute les impacts économiques qui se sont manifestés dès le début des hostilités. Il décrit ensuite les différentes réponses mises en œuvre en Europe pour s’émanciper de cette dépendance. Enfin, il discute quelques angles morts des décisions européennes et esquisse diverses pistes pour les dépasser.

How does an employee’s centrality in intrafirm research and development activities affect the employee’s propensity for outward mobility? Does this proclivity vary by the type of employment the employee seeks: moving to other firms versus founding a new venture? We maintain that, to answer these questions, we must distinguish between an employee’s centrality in the intrafirm collaboration network and the employee’s centrality in the intrafirm technological recombination network. We utilize the curricula vitae and patent data of corporate inventors at a leading semiconductor company between 1993 and 2012 to test our hypotheses. Contrary to prevailing views, our competing risk model indicates that corporate inventors who are central in the intrafirm collaboration and technological network and, thus, have the most opportunities are less likely to leave the current employer. However, when considering external employment opportunities, their preferences vary. Collaboration-central individuals are more likely to start a new venture than to move to another employer. Their skill in developing interpersonal relationships enables them to attract the tangible and intangible resources needed in a new firm. In contrast, inventors whose technological expertise is central to the firm’s technology recombination network are more likely to move to another employer than to start a new venture. In an established firm, they can leverage their technological know-how using the resources that a new venture would lack. Our theory highlights the trade-offs in employees’ attempts to take advantage of their internal and external value based on their position within the firm’s collaboration and technological networks. Funding: The authors thank LeBow College of Business, SKEMA Business School, and Bocconi University for their financial support. Supplemental Material: The online appendix is available at https://doi.org/10.1287/orsc.2021.1535 .

International audience; We develop a two-period overlapping generations model in which both the structure of the family and the decision to commit crime are endogenous and the dynamics of moral norms of good conduct (honesty trait) is transmitted intergenerationally by families and peers. Having a father at home might be crucial to prevent susceptible boys from becoming criminals, as this facilitates the transmission of the honesty trait against criminal behavior. By "destroying" biparental families and putting fathers in prison, we show that more intense crime repression can backfire at the local level because it increases the possibility that criminals' sons become criminals themselves. Consistent with sociological disorganization theories of crime, the model also explains the emergence and persistence of urban ghettos characterized by a large proportion of broken families, high crime rates, and high levels of peer socialization, which reinforce criminal activities. Finally, we discuss the efficiency of segregation, family and education policies in terms of long-term crime rates.

International audience; The basic bathtub model extends Vickrey’s bottleneck model to admit hypercongestion (traffic jam situations). A fixed number of identical commuters travel a fixed distance over a dense network of identical city streets between home and work in the early morning rush hour under dynamic macroscopic fundamental diagram congestion. This paper investigates social optima in the basic bathtub model and contrasts them with the corresponding competitive equilibria. The model gives rise to delay-differential equations, which considerably complicate analysis of the solution properties and design of computational solution algorithms. This paper considers the cases of smooth and strictly concave travel utility functions and of α–β–γ tastes. For each it develops a customized solution algorithm, which it applies to several examples, and for α–β–γ tastes, it derives analytical properties as well. Departures may occur continuously, in departure masses, or a mix of the two. Additionally, hypercongestion may occur in the social optimum. This paper explores how these qualitative solution properties are related to tastes.

This paper analyzes a model of aid allocation equalizingthe opportunity between recipient countries to reach acommon poverty reduction goal. We propose a fair andefficient aid allocation based on a multicriteria principle.The model considers structural handicaps in recipientcountries in terms of lack of human capital and economicvulnerability, their initial poverty, and the naturalgap between the growth rate required to reach a developmentgoal and the observed one. We show that ourproposed aid allocation favors poor and vulnerablecountries with our multicriteria principle. It substantiallydiffers from the observed allocation. Analyses alsoshed light on the impact of the donors' aversion to thelow natural growth gap in recipient countries on theoptimal aid allocation and the marginal efficiency of aid.

International audience; How have societies coped with large increases in public debt? in the European history of the last three centuries, these moments have occurred mainly during and after wars, with the notable exception of the end of the 19th century and the end of the 20th century. these increases have had contrasting consequences both in terms of macroeconomic consequences and in terms of the solutions implemented to reduce these debt bumps. a distinctive element between these 20th century episodes and those of the 18th and 19th centuries was the use of financial engineering to smooth out the debt jumps, making it possible to “buy the time” necessary, in any post-war period, to restore macroeconomic equilibrium.; De nouvelles interventions publiques sont en débat pour lutter contre le dérèglement climatique, gérer la crise énergétique et les difficultés sanitaires, entre autres. Ces débats ont lieu dans un environnement singulier pour les finances publiques des pays développés. En effet, le niveau de dettes publiques a augmenté depuis 2017 pour atteindre des niveaux inédits en temps de paix. La gestion de ces dettes publiques conditionne les évolutions budgétaires à venir et le financement des futurs investissements publics, par l’impôt, de nouvelles dettes ou par des baisses d’autres dépenses publiques.Les niveaux actuels des dettes publiques sont parfois jugés inquiétants, sans que la question de leur soutenabilité ou désirabilité soit clairement explicitée. Par ailleurs, les différentes politiques de réduction de dettes publiques à des niveaux souhaitables doivent être comparées quant à leur effet de court terme et long terme. Quel est l’horizon raisonnable de réduction de dettes publiques, 5 ans ou 20 ans ? Quel est ce niveau de dettes publiques à la fois souhaitables et soutenables ? Ces questions difficiles doivent éclairer le débat de politique économique et de manière concrète le cadre européen de coordination budgétaire.Ce numéro aborde ce débat en revenant sur l’histoire des dettes publiques du XVIIIe au XXIe siècle, qui est riche d’enseignements. Il présente le débat économique sur le niveau souhaitable et soutenable des dettes publiques, en discutant à la fois sa dimension économique et politique. Enfin, des propositions de gestion des dettes publiques sont exposées, comme leurs implications pour le débat européen.