125 results on '"Pintus, Patrick A."'
Search Results
2. Learning financial shocks and the Great Recession
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Pintus, Patrick A. and Suda, Jacek
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- 2019
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3. Short-run pain, long-run gain: the conditional welfare gains from international financial integration
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Boucekkine, Raouf, Fabbri, Giorgio, and Pintus, Patrick A.
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- 2018
4. Correcting the reproduction number for time-varying tests: A proposal and an application to COVID-19 in France
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Baunez, Christelle, primary, Degoulet, Mickaël, additional, Luchini, Stéphane, additional, Pintus, Matteo L., additional, Pintus, Patrick A., additional, and Teschl, Miriam, additional
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- 2023
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5. Land collateral and labor market dynamics in France
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Kaas, Leo, Pintus, Patrick A., and Ray, Simon
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- 2016
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6. Leveraged borrowing and boom–bust cycles
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Pintus, Patrick A. and Wen, Yi
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- 2013
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7. An Economic Perspective on Epidemiology
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Luchini, Stéphane, Pintus, Patrick, Teschl, Miriam, Lhuillier, Elisabeth, Aix-Marseille School of Economics - - AMSE (EUR)2017 - ANR-17-EURE-0020 - EURE - VALID, INITIATIVE D'EXCELLENCE AIX MARSEILLE UNIVERSITE - - Amidex2011 - ANR-11-IDEX-0001 - IDEX - VALID, Aix-Marseille Sciences Economiques (AMSE), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS), ANR-17-EURE-0020,AMSE (EUR),Aix-Marseille School of Economics(2017), and ANR-11-IDEX-0001,Amidex,INITIATIVE D'EXCELLENCE AIX MARSEILLE UNIVERSITE(2011)
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[SDV.SPEE] Life Sciences [q-bio]/Santé publique et épidémiologie ,[SDV.SPEE]Life Sciences [q-bio]/Santé publique et épidémiologie ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,[SHS.ECO] Humanities and Social Sciences/Economics and Finance - Abstract
International audience
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- 2022
8. History's a curse: leapfrogging, growth breaks and growth reversals under international borrowing without commitment
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Boucekkine, Raouf and Pintus, Patrick A.
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- 2012
9. International Credit Markets and Global Business Cycles
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Wen, Yi, primary, Xin, Xiaochuan, additional, and Pintus, Patrick A., additional
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- 2018
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10. Indeterminacy with Almost Constant Returns to Scale: Capital-Labor Substitution Matters
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Pintus, Patrick A.
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- 2006
11. Decision-Making in Rats is Sensitive to Rare and Extreme Events: the Black Swan Avoidance
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Degoulet, Mickaël, primary, Willem, Louis-Matis, additional, Baunez, Christelle, additional, Luchini, Stéphane, additional, and Pintus, Patrick A., additional
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- 2021
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12. Ce que nous voulons et pouvons savoir lors d’une pandémie
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Luchini, Stéphane, Pintus, Patrick A., Teschl, Miriam, Aix-Marseille Sciences Economiques (AMSE), École des hautes études en sciences sociales (EHESS)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), and École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)
- Subjects
[SHS.ECO]Humanities and Social Sciences/Economics and Finance - Abstract
International audience; Comment mesurer le plus finement possible l'accélération ou la décélération d'une épidémie ?
- Published
- 2021
13. Strategic Substitutabilities versus Strategic Complementarities: Towards a General Theory of Expectational Coordination? by R. Guesnerie: Comments
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Pintus, Patrick
- Published
- 2005
14. COVID-19 Acceleration and Vaccine Status in France - Summer 2021
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stéphane, additional, Pintus, Patrick A., additional, and Teschl, Miriam, additional
- Published
- 2021
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15. Tracking the dynamics and allocating tests for COVID-19 in real-time: An acceleration index with an application to French age groups and départements
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stéphane, additional, Pintus, Patrick A., additional, and Teschl, Miriam, additional
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- 2021
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16. Facing the first wave of the Covid pandemic-19Report on the orientations and modes of the Humanities and social sciences research
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Gaille, Marie, Terral, Philippe, Askenazy, Philippe, Aubry, Regis, Bergeron, Henri, Becerra, Sylvia, Blanchon, David, Borraz, Olivier, Bonnefoy, Laurent, Borst, Gregoire, Bourdelais, Patrice, Brugère, Fabienne, Cambois, Emmanuelle, Castel, Patrick, Charmes, Éric, Chlous, Frédérique, Cochoy, Franck, Coutellec, Léo, Cretin, Elodie, Chavalarias, David, Delage, Aurélie, Cyrille, Delpierre, Demoraes, Florent, Didry, Claude, Doraï, Kamel, Duboz, Priscilla, Dupuy, Anne, Eyraud, Benoît, Fassin, Eric, Gaglio, Gérald, Gautier, Claude, Girel, Mathias, Gouëset, Vincent, Grasland, Claude, Gravel, Nicolas, Gueye, Lamine, Hennette-Vauchez, Stéphanie, Ibos, Caroline, Israel-Jost, Vincent, Julliard, Romain, Keck, Frédéric, Kelly-Irving, Michelle, Khlat, Myriam, Lacroix, Thomas, Lagrange, Frédéric, Landy, Frédéric, Laugier, Sandra, Leblanc, Guillaume, Lefebvre, Muriel, Le Tourneau, François-Michel, Luchini, Stephane, Macia, Enguerran, Mallard, Alexandre, March, Florence, Meslé, France, Mennesson, Christiane, Milcent, Carine, Noiville, Christine, Peretti Watel, Patrick, Pintus, Patrick A., Robert, Jérémy, Robine, Jm, Rousseau, Max, Teschl, Miriam, Thébaud-Sorger, Marie-Aline, Thomann, Bernard, Torny, Didier, Valls-Russell, Janice, Wang, Simeng, Worms, Frédéric, Zaouche Gaudron, Chantal, Zouache, Abbès, Deboulet, Agnès, Sciences, Philosophie, Histoire (SPHERE UMR 7219), Centre National de la Recherche Scientifique (CNRS)-Université Paris Cité (UPCité), Centre de Recherche Sciences Sociales Sport et Corps (CreSco), Université Toulouse III - Paul Sabatier (UT3), Université de Toulouse (UT)-Université de Toulouse (UT), Centre Maurice Halbwachs (CMH), École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Département de Sciences sociales ENS-PSL, École normale supérieure - Paris (ENS-PSL), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-École normale supérieure - Paris (ENS-PSL), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL), Centre Hospitalier Régional Universitaire de Besançon (CHRU Besançon), Observatoire national de la fin de vie, Ministère de la santé, Centre de sociologie des organisations (Sciences Po, CNRS) (CSO), Sciences Po (Sciences Po)-Centre National de la Recherche Scientifique (CNRS), Centre National de la Recherche Scientifique (CNRS), Géosciences Environnement Toulouse (GET), Institut de Recherche pour le Développement (IRD)-Université Toulouse III - Paul Sabatier (UT3), Université de Toulouse (UT)-Université de Toulouse (UT)-Institut national des sciences de l'Univers (INSU - CNRS)-Observatoire Midi-Pyrénées (OMP), Université de Toulouse (UT)-Université de Toulouse (UT)-Institut national des sciences de l'Univers (INSU - CNRS)-Centre National d'Études Spatiales [Toulouse] (CNES)-Centre National de la Recherche Scientifique (CNRS)-Météo-France -Institut de Recherche pour le Développement (IRD)-Institut national des sciences de l'Univers (INSU - CNRS)-Centre National d'Études Spatiales [Toulouse] (CNES)-Centre National de la Recherche Scientifique (CNRS)-Météo-France -Centre National de la Recherche Scientifique (CNRS), Interdisciplinary and Global Environmental Studies (iGLOBES), University of Arizona-Centre National de la Recherche Scientifique (CNRS), Centre Français d'Archéologie et de Sciences Sociales (CEFAS ), Ministère de l'Europe et des Affaires étrangères (MEAE)-Centre National de la Recherche Scientifique (CNRS), Laboratoire de psychologie du développement et de l'éducation de l'enfant (LaPsyDÉ - UMR 8240), École des hautes études en sciences sociales (EHESS), Laboratoire d'Etudes de Genre et de Sexualité (LEGS), Université Paris 8 Vincennes-Saint-Denis (UP8)-Université Paris Nanterre (UPN)-Centre National de la Recherche Scientifique (CNRS), Institut national d'études démographiques (INED), Environnement, Ville, Société (EVS), École normale supérieure de Lyon (ENS de Lyon)-École des Mines de Saint-Étienne (Mines Saint-Étienne MSE), Institut Mines-Télécom [Paris] (IMT)-Institut Mines-Télécom [Paris] (IMT)-Université Lumière - Lyon 2 (UL2)-Université Jean Moulin - Lyon 3 (UJML), Université de Lyon-Université de Lyon-Institut National des Sciences Appliquées de Lyon (INSA Lyon), Université de Lyon-Institut National des Sciences Appliquées (INSA)-Institut National des Sciences Appliquées (INSA)-Université Jean Monnet - Saint-Étienne (UJM)-École Nationale des Travaux Publics de l'État (ENTPE)-École nationale supérieure d'architecture de Lyon (ENSAL)-Centre National de la Recherche Scientifique (CNRS), Muséum national d'Histoire naturelle (MNHN), Laboratoire Interdisciplinaire Solidarités, Sociétés, Territoires (LISST), École des hautes études en sciences sociales (EHESS)-Université Toulouse - Jean Jaurès (UT2J), Université de Toulouse (UT)-Université de Toulouse (UT)-École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville (ENSFEA)-Centre National de la Recherche Scientifique (CNRS), Centre de recherche en épidémiologie et santé des populations (CESP), Université de Versailles Saint-Quentin-en-Yvelines (UVSQ)-Assistance publique - Hôpitaux de Paris (AP-HP) (AP-HP)-Hôpital Paul Brousse-Institut National de la Santé et de la Recherche Médicale (INSERM)-Université Paris-Saclay, Logiques de l'Agir ( UR 2274) (LdA), Université de Franche-Comté (UFC), Université Bourgogne Franche-Comté [COMUE] (UBFC)-Université Bourgogne Franche-Comté [COMUE] (UBFC), Centre d'Analyse et de Mathématique sociales (CAMS), École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS), Institut des Systèmes Complexes - Paris Ile-de-France (ISC-PIF), École normale supérieure - Cachan (ENS Cachan)-Université Paris 1 Panthéon-Sorbonne (UP1)-École polytechnique (X)-Institut Curie [Paris]-Sorbonne Université (SU)-Centre National de la Recherche Scientifique (CNRS), Acteurs, Ressources et Territoires dans le Développement (UMR ART-Dev), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Université Paul-Valéry - Montpellier 3 (UPVM)-Université de Perpignan Via Domitia (UPVD)-Centre National de la Recherche Scientifique (CNRS)-Université de Montpellier (UM), Epidémiologie et Analyses en Santé Publique : risques, maladies chroniques et handicap (LEASP), Institut National de la Santé et de la Recherche Médicale (INSERM), Espaces et Sociétés (ESO), Université de Caen Normandie (UNICAEN), Normandie Université (NU)-Normandie Université (NU)-Le Mans Université (UM)-Université d'Angers (UA)-Université de Rennes 2 (UR2)-Centre National de la Recherche Scientifique (CNRS)-Institut de Géographie et d'Aménagement Régional de l'Université de Nantes (Nantes Univ - IGARUN), Nantes Université - pôle Humanités, Nantes Université (Nantes Univ)-Nantes Université (Nantes Univ)-Nantes Université - pôle Humanités, Nantes Université (Nantes Univ)-Nantes Université (Nantes Univ)-Institut Agro Rennes Angers, Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro), Université de Rennes (UR), Institut Français du Proche-Orient (IFPO), Unité Mixte Internationale 'Environnement Santé Sociétés' (ESS), Centre d'Etude et de Recherche Travail Organisation Pouvoir (CERTOP), Université Toulouse - Jean Jaurès (UT2J), Université de Toulouse (UT)-Université de Toulouse (UT)-Université Toulouse III - Paul Sabatier (UT3), Université de Toulouse (UT)-Centre National de la Recherche Scientifique (CNRS), Centre Max Weber (CMW), École normale supérieure de Lyon (ENS de Lyon)-Université Lumière - Lyon 2 (UL2)-Université Jean Monnet - Saint-Étienne (UJM)-Centre National de la Recherche Scientifique (CNRS), Groupe de Recherche en Droit, Economie et Gestion (GREDEG), Université Nice Sophia Antipolis (1965 - 2019) (UNS), COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA), Triangle : action, discours, pensée politique et économique (TRIANGLE), École normale supérieure de Lyon (ENS de Lyon)-Université Lumière - Lyon 2 (UL2)-Sciences Po Lyon - Institut d'études politiques de Lyon (IEP Lyon), Université de Lyon-Université de Lyon-Université Jean Monnet - Saint-Étienne (UJM)-Centre National de la Recherche Scientifique (CNRS), Centre d’Archives en Philosophie, Histoire et Édition des Sciences (CAPHÉS), Centre National de la Recherche Scientifique (CNRS)-Département de Philosophie - ENS Paris, Université Paris Cité (UPCité), Aix-Marseille Sciences Economiques (AMSE), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS), Université Cheikh Anta Diop [Dakar, Sénégal] (UCAD), Centre de Théorie et Analyse du Droit (CTAD), Université Paris Nanterre (UPN)-Centre National de la Recherche Scientifique (CNRS)-Département de Sciences sociales ENS-PSL, Université de Rennes 2 (UR2), Laboratoire d'anthropologie sociale (LAS), École des hautes études en sciences sociales (EHESS)-Collège de France (CdF (institution))-Centre National de la Recherche Scientifique (CNRS), Epidémiologie et analyses en santé publique : risques, maladies chroniques et handicaps (LEASP), Université de Toulouse (UT)-Université de Toulouse (UT)-Institut National de la Santé et de la Recherche Médicale (INSERM), Maison Française d'Oxford (MFO), Centre Français d'Archéologie et de Sciences Sociales (CEFAS), Laboratoire Architecture, Ville, Urbanisme, Environnement (LAVUE), Université Paris 8 Vincennes-Saint-Denis (UP8)-École nationale supérieure d'architecture de Paris-La Villette (ENSAPLV), HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université (HESAM)-HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université (HESAM)-Université Paris Nanterre (UPN)-École nationale supérieure d'architecture de Paris Val-de-Seine (ENSA PVDS)-Centre National de la Recherche Scientifique (CNRS)-Ministère de la Culture (MC), Institut Français de Pondichéry (IFP), Unite mixte de recherche en droit comparé (UMRDC), Université Paris 1 Panthéon-Sorbonne (UP1)-Centre National de la Recherche Scientifique (CNRS), Institut des sciences juridique et philosophique de la Sorbonne - UMR 8103 (ISJPS), Laboratoire de sciences cognitives et psycholinguistique (LSCP), Département d'Etudes Cognitives - ENS Paris (DEC), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS), Laboratoire d'Etudes et de Recherches Appliquées en Sciences Sociales (LERASS), Université Paul-Valéry - Montpellier 3 (UPVM)-Université Toulouse - Jean Jaurès (UT2J), Université de Toulouse (UT), Centre de Sociologie de l'Innovation i3 (CSI i3), Mines Paris - PSL (École nationale supérieure des mines de Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Institut interdisciplinaire de l’innovation (I3), Centre National de la Recherche Scientifique (CNRS)-Centre National de la Recherche Scientifique (CNRS), Institut de recherche sur la Renaissance, l'Age Classique, et les Lumières. (IRCL), Université Paul-Valéry - Montpellier 3 (UPVM)-Centre National de la Recherche Scientifique (CNRS), Laboratoire des Sciences Sociales du Politique (LaSSP), Institut d'Études Politiques [IEP] - Toulouse, Paris Jourdan Sciences Economiques (PJSE), Université Paris 1 Panthéon-Sorbonne (UP1)-École normale supérieure - Paris (ENS-PSL), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-École des hautes études en sciences sociales (EHESS)-École des Ponts ParisTech (ENPC)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Vecteurs - Infections tropicales et méditerranéennes (VITROME), Institut de Recherche pour le Développement (IRD)-Aix Marseille Université (AMU)-Institut de Recherche Biomédicale des Armées [Brétigny-sur-Orge] (IRBA), Institut des Sciences Humaines et Sociales (InSHS), Normandie Université (NU)-Normandie Université (NU)-Le Mans Université (UM)-Université d'Angers (UA)-AGROCAMPUS OUEST-Université de Rennes 2 (UR2)-Centre National de la Recherche Scientifique (CNRS)-Institut de Géographie et d'Aménagement Régional de l'Université de Nantes (IGARUN), Université de Nantes (UN)-Université de Nantes (UN), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Université Paul-Valéry - Montpellier 3 (UPVM)-Université de Perpignan Via Domitia (UPVD)-Université de Montpellier (UM)-Centre National de la Recherche Scientifique (CNRS), Centre Alexandre Koyré - Centre de Recherche en Histoire des Sciences et des Techniques (CAK-CRHST), Muséum national d'Histoire naturelle (MNHN)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS), Institut National des Langues et Civilisations Orientales (Inalco), Institut interdisciplinaire de l’innovation de Telecom Paris (I3 SES), Télécom ParisTech-Institut interdisciplinaire de l’innovation (I3), CERMES3 - Centre de recherche Médecine, sciences, santé, santé mentale, société (CERMES3 - UMR 8211 / U988 / UM 7), École des hautes études en sciences sociales (EHESS)-Institut National de la Santé et de la Recherche Médicale (INSERM)-Centre National de la Recherche Scientifique (CNRS)-Université Paris Cité (UPCité), École Normale Supérieure - Saint-Cloud (ENS Saint-Cloud), Centre National de la Recherche Scientifique, Université Toulouse III - Paul Sabatier, Centre National de la Recherche Scientifique (CNRS)-Université de Paris (UP), Université Toulouse - Jean Jaurès (UT2J)-Université Toulouse III - Paul Sabatier (UT3), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées-Centre National de la Recherche Scientifique (CNRS), Centre des sciences humaines (UMIFRE 20 CNRS-MAE), Normandie Université (NU)-Normandie Université (NU)-Le Mans Université (UM)-Université d'Angers (UA)-AGROCAMPUS OUEST-Université de Rennes 2 (UR2), Université de Rennes (UNIV-RENNES)-Université de Rennes (UNIV-RENNES)-Centre National de la Recherche Scientifique (CNRS)-Institut de Géographie et d'Aménagement Régional de l'Université de Nantes (IGARUN), Institut interdisciplinaire de l’innovation (I3, une unité mixte de recherche CNRS (UMR 9217)), École polytechnique (X)-Télécom ParisTech-Mines Paris - PSL (École nationale supérieure des mines de Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Centre National de la Recherche Scientifique (CNRS), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées-Centre National de la Recherche Scientifique (CNRS)-Université Toulouse - Jean Jaurès (UT2J), École des hautes études en sciences sociales (EHESS)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), École normale supérieure - Paris (ENS Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Université Paris Nanterre (UPN)-Centre National de la Recherche Scientifique (CNRS), Centre National de la Recherche Scientifique (CNRS)-Université Paris Nanterre (UPN)-Ministère de la Culture (MC)-Université Paris 8 Vincennes-Saint-Denis (UP8)-École nationale supérieure d'architecture de Paris Val-de-Seine (ENSA PVDS)-École nationale supérieure d'architecture de Paris-La Villette (ENSAPLV), Institut de Géographie et d'Aménagement Régional de l'Université de Nantes (IGARUN), Université de Nantes (UN)-Université de Nantes (UN)-Centre National de la Recherche Scientifique (CNRS)-Université de Rennes 2 (UR2), Université de Rennes (UNIV-RENNES)-Université de Rennes (UNIV-RENNES)-AGROCAMPUS OUEST, Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Université d'Angers (UA)-Université de Caen Normandie (UNICAEN), Normandie Université (NU)-Normandie Université (NU)-Le Mans Université (UM), Centre National de la Recherche Scientifique (CNRS)-Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Université de Montpellier (UM)-Université de Perpignan Via Domitia (UPVD)-Université Paul-Valéry - Montpellier 3 (UPVM), Centre National de la Recherche Scientifique (CNRS)-École polytechnique (X)-Télécom ParisTech-MINES ParisTech - École nationale supérieure des mines de Paris, Gaille, Marie, Le Mans Université (UM)-Université de Caen Normandie (UNICAEN), and Normandie Université (NU)-Normandie Université (NU)-Université d'Angers (UA)-AGROCAMPUS OUEST-Université de Rennes 2 (UR2)
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INTERDISCIPLINARY_RESEARCH ,SOCIAL_AND_HUMAN_SCIENCES ,SOCIETY ,RESEARCH ,[SHS] Humanities and Social Sciences ,RESEARCH_REPORTS ,[SHS]Humanities and Social Sciences - Abstract
Research in the humanities and social sciences (HSS), which is regularly asked the question of its "usefulness", has been massively mobilized in the first part of the year 2020, both by the media and institutions. It has shown itself to be highly responsive, adapting its schedules and objectives, and modifying its intervention formats (webinars, distance learning courses). It was much present, despite the inequalities generated by the lockdown, particularly in terms of gender. The aim of this work is to offer the reader an analysis mobilizing the work of the SHS as a whole. Without claiming to be exhaustive, it weaves the threads, through the questions it addresses, from one discipline to another, composing a whole in which the social sciences and humanities resonate with one another, deploy their complementarity, and create a common analysis. Its objective is to emphasize the existence of a scientific capital of the HSS as such, to address the various questions raised by the Covid-19 pandemic. Current HSS research on the pandemic, its political management, and its stakes, is not developed ex nihilo. While taking the measure of the specificity of the present times, it is based on a set of theoretical frameworks, methods and analyses elaborated in other contexts, remobilized, updated and enriched in the light of the issues associated with the Covid 19 pandemic. Moreover, this work aims at taking into account from the outset the global dimension of the pandemic, and not just the French situation. Thus, several national and even continental contexts are explored on one point or another and the global dimension of the pandemic is taken into account as such. Finally, this document also looks at the very way in which the humanities and social sciences were mobilized in France in the context of the Covid 19 pandemic, at the collaborative forms and multidisciplinary practices particularly adopted in the face of this pandemic. It is structured in five parts: the first deals with the way in which the HSS make the crisis a question and an object of knowledge (A - From the framing of the crisis in the public space to the crisis as an object of knowledge - the example of France). The second addresses a salient point of the analyses developed over the last few months, which consider the pandemic as a revealer, or even an amplifier of pre-existing issues (B). Then, the third part looks at the societies and governments confronted with the pandemic (C), in other words, the forms of crisis management by the political power, the mobilization of science and the exercise of power, as well as the measures taken and the attitudes of the populations with regard to these measures. The fourth part presents the way in which the time of the pandemic has been characterized by questions about the future, questions which in turn give rise to orientations for HSS research (D. Reinventing ourselves in times of pandemic). Finally, the fifth and last part invites the reader to discover how the HHS involved itself in times of pandemic, how they collaborated together and undertook to document the health crisis in the heat of the moment, while accepting to consider new questions, and adopt new methods under the effect of this crisis (E. When the crisis invites collaboration and reflection on the "transfer" of knowledge)., La recherche en sciences humaines et sociales (SHS), à qui l’on pose régulièrement la question de son « utilité », a été massivement mobilisée dans la première partie de l’année 2020, tant par les médias et les institutions. Elle s’est montrée d’une grande réactivité, en adaptant ses calendriers et ses objectifs, en modifiant ses formats d’interventions (wébinaires, cours en distanciel). Chercheuses et chercheurs, enseignant(e)s-chercheurs ont été présents, et ce malgré des inégalités générées par le confinement dans le travail de recherche, notamment en termes de genre. Le présent travail a pour ambition de proposer à son lecteur une analyse mobilisant les travaux des SHS dans leur ensemble. Sans prétendre à l’exhaustivité, il tisse les fils, à travers les questions qu’il aborde, d’une discipline à une autre, composant un ensemble dans lequel les SHS entrent en résonance les unes avec les autres, déploient leur complémentarité, et créent une analyse commune, qu’elles relèvent plutôt des sciences sociales ou des humanités. Il a pour objectif de rendre manifeste un capital scientifique des SHS en tant que telles, pour aborder les différents questionnements que suscite la pandémie de Covid-19. La recherche actuelle en SHS sur la pandémie, sa gestion politique, et ses enjeux, ne s’élabore pas ex nihilo. Tout en prenant la mesure de la spécificité des temps présents, elle s’appuie sur un ensemble de cadres théoriques, de méthodes, d’analyses élaborés dans d’autres contextes, remobilisés, réactualisés, enrichis à la lumière des problématiques associées à la pandémie de Covid 19. Par ailleurs, le parti-pris de ce travail a été de tenir compte d’emblée de la dimension mondiale de la pandémie, et de ne pas s’en tenir à la situation française. Ainsi, plusieurs contextes nationaux, voire continentaux sont explorés sur tel ou tel point et la dimension mondiale de la pandémie y est prise en compte en tant que telle. Enfin, ce document s’intéresse aussi à la manière même dont les sciences humaines et sociales se sont mobilisées, en France, dans le contexte de la pandémie de Covid 19, aux formes collaboratives, aux pratiques pluridisciplinaires particulièrement adoptées face à cette pandémie. Il se structure en cinq parties : la première porte sur la manière dont les SHS font de la crise une question et un objet de connaissance (A – Du cadrage de la crise dans l’espace public à la crise comme objet de connaissance - l’exemple de la France). La seconde aborde un point saillant des analyses élaborées au cours des derniers mois, qui envisagent la pandémie comme un révélateur, voire un amplificateur d’enjeux pré-existants (B). Puis, la troisième partie s’intéresse aux sociétés et aux gouvernements confrontés à la pandémie (C), autrement dit aux formes de la gestion de la crise par le pouvoir politique, à la mobilisation des sciences et à l’exercice du pouvoir, ainsi qu’aux mesures prises et aux attitudes des populations au regard de ces mesures. La quatrième partie présente la façon dont le temps de la pandémie a été traversé de questionnements pour le futur, questionnements qui à leur tour impriment des orientations pour la recherche en SHS (D. Se réinventer en temps de pandémie). Enfin, la cinquième et dernière partie invite le lecteur à découvrir comment les SHS se sont mobilisées en temps de pandémie, comment elles ont collaboré et entrepris de documenter à chaud la crise sanitaire tout en acceptant de voir se renouveler questions, objets, méthodes sous l’effet de cette crise (E. Quand la crise invite aux collaborations et à une réflexion sur le « transfert » des connaissances).
- Published
- 2020
17. Are Epidemiological Indicators Misleading under Uncertainty? An Evaluation and a Remedy from An Economic Perspective
- Author
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stephane, additional, Pintus, Patrick, additional, and Teschl, Miriam, additional
- Published
- 2021
- Full Text
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18. Dynamic inefficiency in an overlapping generations economy with production
- Author
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Cazzavillan, Guido and Pintus, Patrick
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Business ,Economics - Abstract
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jet.2006.11.003 Byline: Guido Cazzavillan (a), Patrick Pintus (b) Abstract: Reichlin [Equilibrium cycles in an overlapping generations economy with production, J. Econ. Theory 40 (1986) 89-102] has shown in an OLG model with productive capital that whenever the steady state is locally indeterminate and undergoes a Hopf bifurcation, it is Pareto-optimal. While these results were established under the assumption of Leontief technology, the author has partially extended them to show that the Hopf bifurcation is robust with respect to the introduction of capital-labor substitution. In this note, we prove that the Pareto-optimality of the steady state does not extend to technologies with capital-labor substitution. When the steady state is a sink or undergoes a Hopf bifurcation, it is characterized by over-accumulation with respect to the Golden Rule -- the interest rate is negative -- hence not Pareto-optimal. Most importantly, it follows that stabilization policies targeting the steady state leave room for welfare losses associated with productive inefficiency, apart from the very special case of Leontief technology. Author Affiliation: (a) Department of Economics, University Ca' Foscari of Venice and SET, Cannaregio, 873 S. Giobbe, 30121 Venice, Italy (b) Department of Economics, Universite de la Mediterranee and GREQAM-IDEP, 2 rue de la Charite, 13236 Marseille Cedex 2, France Article History: Received 7 August 2006; Revised 22 November 2006
- Published
- 2007
19. Local determinacy with non-separable utility
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Pintus, Patrick A.
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Electric utilities ,Business ,Economics - Abstract
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jedc.2006.01.002 Byline: Patrick A. Pintus Abstract: This paper introduces general formulations for both technology (with input substitution) and non-separable utility (compatible with balanced growth and stationary worked hours) into a benchmark RBC model. It is shown that intertemporal substitution and input substitutability lead to local determinacy and rule out stationary sunspot equilibria when labor demand is downward-sloping, in contrast with recent results obtained under the assumption of separable utility. The main intuition behind this result is shown to work as follows: in contrast with separable preferences, increasing the elasticity of intertemporal substitution in consumption necessarily implies decreasing the elasticity of constant-consumption labor supply, when utility is non-separable and concave, which affects unfavorably the occurrence of local indeterminacy. Author Affiliation: Departement of Economics, Universite de la Mediterranee, and GREQAM-IDEP Centre de la Vieille Charite, 2 rue de la Charite, 13236 Marseille Cedex 02, France Article History: Received 9 September 2004; Accepted 11 January 2006
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- 2007
20. Linearly progressive income taxes and stabilization
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Dromel, Nicolas L. and Pintus, Patrick A.
- Published
- 2007
- Full Text
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21. Capital externalities in OLG economies
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Cazzavillan, Guido and Pintus, Patrick A.
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Labor market -- Analysis ,Business ,Economics - Abstract
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jedc.2005.04.007 Byline: Guido Cazzavillan (a), Patrick A. Pintus (b) Keywords: Overlapping generations; Endogenous labor supply; Capital externalities; Multiple equilibria; Endogenous fluctuations Abstract: The recent literature has stressed that externalities, however small, may lead to indeterminacy and endogenous fluctuations while, on the contrary, intertemporal substitution in consumption leads to local uniqueness. This paper introduces increasing returns, through aggregate capital externalities, into the overlapping generations model with endogenous labor and consumption in both periods of life. We show that local determinacy of the steady state prevails, when externalities are arbitrarily small, as long as the fraction of young-age consumption out of wage income is large enough. Conversely, local indeterminacy with small externalities requires both labor supply to be close to indivisible and irrealistic values of the propensity to save out of the wage income. More surprising is the fact that increasing the size of externalities indeed reduces the range of values of the consumption-to-wage ratio associated with multiple equilibria, because of two conflicting effects on savings that operate through wage and interest rate. Author Affiliation: (a) Department of Economics, Universita Ca' Foscari di Venezia and SET, Italy (b) Department of Economics, Universite de la Mediterranee Aix-Marseille II and GREQAM, 2 rue de la Charite, 13236 Marseille Cedex 02, France Article History: Received 3 September 2004; Accepted 26 April 2005
- Published
- 2006
22. Correcting the Reproduction Number for Time-Varying Tests: a Proposal and an Application to COVID-19 in France*
- Author
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Baunez, Christelle, primary, Degoulet, Mickaël, additional, Luchini, Stéphane, additional, Pintus, Matteo L., additional, Pintus, Patrick A., additional, and Teschl, Miriam, additional
- Published
- 2020
- Full Text
- View/download PDF
23. An Early Assessment of Curfew and Second COVID-19 Lock-down on Virus Propagation in France
- Author
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stéphane, additional, Pintus, Patrick A., additional, and Teschl, Miriam, additional
- Published
- 2020
- Full Text
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24. Tracking the Dynamics and Allocating Tests for COVID-19 in Real-Time: an Acceleration Index with an Application to French Age Groups and Départements*
- Author
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stéphane, additional, Pintus, Patrick A., additional, and Teschl, Miriam, additional
- Published
- 2020
- Full Text
- View/download PDF
25. The impact of infrastructure investments on income inequality: Evidence from US states
- Author
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Hooper, Emma, primary, Peters, Sanjay, additional, and Pintus, Patrick A., additional
- Published
- 2020
- Full Text
- View/download PDF
26. Urgently Needed for Policy Guidance: An Operational Tool for Monitoring the COVID-19 Pandemic
- Author
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Luchini, Stephane, primary, Teschl, Miriam, additional, Pintus, Patrick, additional, Baunez, Christelle, additional, and Moatti, Jean Paul, additional
- Published
- 2020
- Full Text
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27. Monetary Policies and Destabilizing Carry Trades Under Adaptive Learning
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Dell'Eva, Cyril, primary, Girardin, Eric, additional, and Pintus, Patrick, additional
- Published
- 2020
- Full Text
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28. The Acceleration Index as a Test-Controlled Reproduction Number: Application to COVID-19 in France
- Author
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stephane, additional, Pintus, Patrick, additional, Pintus, Matteo Louis, additional, and Teschl, Miriam, additional
- Published
- 2020
- Full Text
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29. Sub-National Allocation of COVID-19 Tests: An Efficiency Criterion with an Application to Italian Regions
- Author
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Baunez, Christelle, primary, Degoulet, Mickael, additional, Luchini, Stephane, additional, Pintus, Patrick, additional, and Teschl, Miriam, additional
- Published
- 2020
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30. On competitive cycles and sunspots in productive economies with a positive money stock
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Cazzavillan, Guido and Pintus, Patrick A.
- Published
- 2005
- Full Text
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31. Laffer traps and monetary policy
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Pintus, Patrick A.
- Subjects
Monetary policy -- Evaluation -- Laws, regulations and rules ,Fiscal policy -- Evaluation -- Laws, regulations and rules ,Income tax -- Laws, regulations and rules ,Banking, finance and accounting industries ,Business ,Government regulation ,Evaluation ,Laws, regulations and rules - Abstract
This article focuses on the interaction, in a stylized economy with flexible prices, of monetary and fiscal policy when both are active--active in the sense that how the policy instrument [...]
- Published
- 2008
32. Capital-labor substitution and competitive nonlinear endogenous business cycles
- Author
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Grandmont, Jean-Michel, Pintus, Patrick, and Vilder, Robin de
- Subjects
Economic research -- Models ,Capital -- Research ,Work -- Research ,Business ,Economics - Abstract
A discrete time two-dimensional macroeconomic model was developed that related deterministic or stochastic endogenous fluctuations to the possible presence of invariant closed curves or cycles near a steady state. Applying the model on the capital-labor substitution problem yielded a simple macroeconomic monetary model where low elasticities between capital and labor were observed.
- Published
- 1998
33. Multiple steady states and endogenous fluctuations with increasing returns to scale in production
- Author
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Cazzavillan, Guido, Lloyd-Braga, Teresa, and Pintus, Patrick A.
- Subjects
Economic research -- Models ,Equilibrium (Economics) -- Models ,Business ,Economics - Abstract
A model is developed wherein external and internal increasing returns to scale in production is made to influence the elasticity of capital-labor susbsititutions and the elasticity of labor supply. Particular emphasis on monitoring the influence of such factors on multiple-Pareto ranked stationary equilibria, local indeterminacy, bifurcations and expectations-driven fluctuations were noted. An interesting sidelight of the research was the inapplicability of the Cobb-Douglas model to the problem since the closed-form solutions of the model is misleading in terms of the measure of elasticities.
- Published
- 1998
34. Robustness of multiple equilibria in OLG economies
- Author
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Cazzavillan, Guido and Pintus, Patrick A.
- Published
- 2004
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35. Mean growth and stochastic stability in endogenous growth models
- Author
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Boucekkine, Raouf, Pintus, Patrick A., and Zou, Benteng
- Published
- 2018
- Full Text
- View/download PDF
36. The impact of infrastructure investments on income inequality: Evidence from US states.
- Author
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Hooper, Emma, Peters, Sanjay, and Pintus, Patrick A.
- Subjects
INVESTMENTS ,INFRASTRUCTURE (Economics) ,PUBLIC spending ,ROADS ,INCOME inequality - Abstract
Our analysis of US state‐level data on an annual frequency, from 1976 to 2008, sheds new light on a plausible causal link between infrastructure investments, namely public spending on highways, and income inequality. This causal relationship is drawn out using the number of seats in the US House of Representatives Committee on Appropriations (HRCA) as an instrument to identify quasi‐random variations in state‐level spending on highways. An exogenous pattern which emerges when a state gains an additional member to the HRCA is that it is allocated with new federal grants. This increase in federal transfers for infrastructure financing results in slashing of expenditures on highways and a crowding‐out effect of federal funding for state investments on highways. Spending cuts on highways produced by a new HRCA member being attained by a state can unwittingly cause income inequality to rise over a short 2‐year time horizon. Similar challenges with decentralized development to finance infrastructure via federal transfers to state and sub‐national governments may be encountered by other industrially advanced, emerging and low‐income developing economies. US data over the mentioned period reveal a strong positive correlation with state spending on highways and wages paid for construction jobs. Suggestive evidence indicates that the construction sector also plays an important role in the transmission channel from a rise in state spending on highways to lowering income inequality, albeit during specific intervals, as opposed to on a long‐term basis. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
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37. The Causal Effect of Infrastructure Investments on Income Inequality: Evidence from US States
- Author
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Hooper, Emma, Peters, Sanjay, Pintus, Patrick, Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), Columbia University [New York], Institut des Sciences Humaines et Sociales (InSHS), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS), and Lai Tong, Charles
- Subjects
highways ,JEL: C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C23 - Panel Data Models • Spatio-temporal Models ,JEL: H - Public Economics/H.H7 - State and Local Government • Intergovernmental Relations/H.H7.H72 - State and Local Budget and Expenditures ,JEL: O - Economic Development, Innovation, Technological Change, and Growth/O.O5 - Economywide Country Studies/O.O5.O51 - U.S. • Canada ,instrument variable ,public infrastructure ,US state panel data ,[SHS.ECO] Humanities and Social Sciences/Economics and Finance ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,JEL: D - Microeconomics/D.D3 - Distribution/D.D3.D31 - Personal Income, Wealth, and Their Distributions ,income inequality - Abstract
Through utilizing US state-level data at annual frequency from 1976 to 2008, this paper documents a causal effect of infrastructure investments, specifically public spending on highways, on income inequality. The number of seats in the US House of Representatives Committee On Appropriations serves as a valid instrument to identify quasi-random variations in state-level spending on highways. When a given state gains an additional committee member, which is rather exogenous, new federal grants are allocated to that state, resulting in the state government slashing its investment expenditures on highways. In other words, a crowding-out effect of federal funding for state investment in highways is at play. The main contribution of this paper is to show that such committee-driven cuts in spending on highways cause an increase in income inequality within a two-year horizon. In addition, we show that wages paid for construction jobs correlate positively and strongly with spending on highways at the state level. This further provides suggestive evidence that the construction sector plays an important role in the transmission channel from a rise in state spending on highways to a reduction in income inequality.
- Published
- 2018
38. Why is the Interest Rate an Inverted Leading Indicator of Macroeconomic Activity in the United States?
- Author
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Pintus, Patrick A., Centre de recherche de la Banque de France, Banque de France, Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), and École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)
- Subjects
[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,[SHS]Humanities and Social Sciences - Abstract
International audience; The real interest rate at which US firms borrow funds to finance their investment and other expenses has two striking features. It is low when GDP is high (and vice versa) and it is an inverted leading indicator of real economic activity. Low interest rates today forecast future booms in GDP, consumption, investment, and employment. This Rue de la Banque shows that inherent to such correlations is a redistribution channel through which resources typically flow from lending entities to borrowing firms during expansions. Such a redistribution channel is driven by expectations about future levels of the borrowing cost, which accounts for a large share of the volatility of output, investment and other macroeconomic variables during business cycles.
- Published
- 2017
39. International credit markets and global business cycles
- Author
-
Pintus, Patrick A., primary, Wen, Yi, additional, and Xing, Xiaochuan, additional
- Published
- 2018
- Full Text
- View/download PDF
40. Leveraged Borrowing and Boom-Bust Cycles
- Author
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Wen, Yi, primary and Pintus, Patrick A., additional
- Published
- 2010
- Full Text
- View/download PDF
41. Excessive Demand and Boom-Bust Cycle
- Author
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Pintus, Patrick A., primary and Wen, Yi, additional
- Published
- 2008
- Full Text
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42. On the transition from local regular to global irregular fluctuations
- Author
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Pintus, Patrick, Sands, Duncan, and de Vilder, Robin
- Published
- 2000
- Full Text
- View/download PDF
43. To what extent can long-term investments in infrastructure reduce inequality?
- Author
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Hooper, Emma, primary, Peters, Sanjay, additional, and Pintus, Patrick, additional
- Published
- 2018
- Full Text
- View/download PDF
44. Land prices, lending to companies and job creations
- Author
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Kaas, Leo, Pintus, Patrick A., Ray, Simon, University of Konstanz, DGEI-DEMFI-POMONE – Banque de France, Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), Centre de recherche de la Banque de France, Banque de France, and École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)
- Subjects
[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,Economie quantitative ,[SHS]Humanities and Social Sciences - Abstract
ACLN; International audience; The fluctuations of the value of land held by French firms present a very similar pattern to those of both investment and employment. This Rue de la Banque presents a model in which firms face imperfect labour and credits markets. Due to a collateral constraint for credit, the market value of land in firms’ balance sheets plays an important role in determining how much they can borrow, and thus affects their investment levels and hiring decisions. The empirical results confirm the predictions of the theoretical model. Fluctuations in land prices had an impact on the business cycle and on the dynamics of the labour market in France.
- Published
- 2015
45. To What Extent Can Long-Term Investment in Infrastructure Reduce Inequality?
- Author
-
Hooper, Emma, primary, Peters, Sanjay, additional, and Pintus, Patrick, additional
- Published
- 2017
- Full Text
- View/download PDF
46. Risk Sharing and Growth in Small-Open Economies
- Author
-
Boucekkine, Raouf, Fabbri, Giorgio, Pintus, Patrick A., Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), DGEI-DEMFI-POMONE – Banque de France, Lai Tong, Charles, and École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)
- Subjects
international financial integration ,International Financial Integration, endogenous growth, small open economy, domestic and foreign risks ,endogenous growth ,jel:O40 ,international financial integration,endogenous growth,small open economy,domestic and foreign risks ,small open economy ,jel:F43 ,[SHS.ECO] Humanities and Social Sciences/Economics and Finance ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,domestic and foreign risks ,jel:F34 - Abstract
In this paper, we revisit the question of how domestic and foreign risks affect growth through the lens of an AK small-open economy model with risky borrowing/lending and global diversification. Wealth is allocated between domestic and foreign assets and the optimal allocation depends on both the difference in deterministic returns and the relative magnitude and correlation of domestic and foreign risks. Depending on parameters, the small-open economy may choose to either borrow from abroad, despite the fact that this is risky, or lend. In contrast to standard N-country models, whether growth is faster or slower (and whether growth is more or less volatile) compared to autarky is not entirely driven by relative risk aversion but also depends on the return and risk characteristics of domestic and foreign assets. We also show that growth volatility and mean growth have typically nonmonotonic relationships with the the levels and correlation of domestic and foreign risks. We argue that these results are in line with, and lay down some theoretical foundations for explaining the conflicting empirical results regarding the impact of international financial integration on growth and in particular threshold effects.
- Published
- 2015
47. Short-run pain, long-run gain: the conditional welfare gains from international financial integration
- Author
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Boucekkine, Raouf, primary, Fabbri, Giorgio, additional, and Pintus, Patrick A., additional
- Published
- 2016
- Full Text
- View/download PDF
48. Risk-Taking, Global Diversification and Growth: Comment
- Author
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Pintus, Patrick A., Lai Tong, Charles, Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), and École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)
- Subjects
international financial integration ,endogenous growth ,stochastic stability ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,[SHS.ECO] Humanities and Social Sciences/Economics and Finance ,international financial integration,endogenous growth,stochastic stability - Abstract
In a seminal article, Obstfeld (1994) showed that growth and welfare gains from international risk-sharing arise in a continuous-time stochastic AK model. More precisely, he proved that a portfolio shift from safe and low-return capital to riskier and high-return capital triggers an unambiguous increase in growth. In this note I stress necessary and sufficient conditions ensuring stochastic stability of the exponential balanced-growth path, an issue that has not been addressed by Obstfeld. Not surprisingly, stability requires the average of the wealth growth rate to be positive, which makes clear how mean growth should be defined. Differently, Obstfeld defines mean growth as the growth rate of average wealth, which is smaller than the mean growth rate of wealth under the maintained assumption that wealth is log-normally distributed, because the latter growth concept is risk-adjusted. The two notions of mean growth have very different comparative statics properties both for economies that hold some risk-free capital and for economies that fully specialize in risky capital. Different from Obstfeld’s results, international financial integration increases the stability-related mean growth rate for both complete and incomplete specialization, if risk aversion takes on moderate values and provided that the intertemporal substitution elasticity is smaller than one. Although the welfare computations presented by Obstfeld are preserved, because they ultimately depend on parameter values, this note shows that stochastic stability sheds new light on the mechanisms that trigger growth changes under financial integration and underlines the intuition behind them.
- Published
- 2015
49. International credit markets and global business cycles.
- Author
-
Pintus, Patrick A., Wen, Yi, and Xing, Xiaochuan
- Subjects
BOND market ,BUSINESS cycles ,ECONOMIC activity ,INTEREST rates ,FINANCIAL markets ,REPAYMENTS - Abstract
This paper stresses a new channel through which global financial linkages contribute to the co‐movement in economic activity across countries. We show in a two‐country setting with borrowing constraints that international credit markets are subject to self‐fulfilling variations in the world real interest rate. Those expectation‐driven changes in the borrowing cost in turn act as global shocks that induce strong cross‐country co‐movements in both financial and real variables (such as asset prices, gross domestic product, consumption, investment, and employment). When firms around the world benefit from unexpectedly low debt repayments, they borrow and invest more, which leads to excessive supply of collateral and of loanable funds at a low interest rate, thus fueling a boom both at home and abroad. As a consequence, business cycles are synchronized internationally. Such a stylized model thus offers one way to rationalize both the existence of a world business‐cycle component, documented by recent empirical studies through dynamic factor analysis, and the factor's intimate link to global financial markets. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
50. Is the Flat Tax Optimal under Income Risk?
- Author
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Henriet, Dominique, Pintus, Patrick A., Trannoy, Alain, Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS), Lai Tong, Charles, and École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU)
- Subjects
Optimal Income Taxation, Income Risk, Linear and Nonlinear Income Tax ,jel:H24 ,optimal income taxation ,income risk ,linear and nonlinear income tax ,[SHS.ECO] Humanities and Social Sciences/Economics and Finance ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance ,optimal income taxation,income risk,linear and nonlinear income tax ,jel:H21 - Abstract
We derive testable conditions ensuring that the income tax is optimal when agents are ex-ante identical but face idiosyncratic income risk. The optimal tax depends positively on both absolute risk aversion and risk variance and negatively on labor supply elasticity and absolute prudence. The comparison with the formula of the optimal non-linear income tax provides the restrictions on both the preferences and the income distribution conditional on effort ensuring that the optimal tax is indeed linear. In general it requires that the ratio of absolute prudence to absolute risk aversion be no less than two; if the income density has a linear likelihood ratio, it requires a (generalized) logarithmic consumption utility. Under HARA utility and linear or logarithmic likelihood ratios, explicit solutions for the optimal non-linear income tax are derived.
- Published
- 2014
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