A time-varying coefficient demand system, the Markov switching almost ideal demand model, is proposed to shed new light on change over time in the structure of French meat and fish demand. The main feature of this model is that the switching mechanism from one structure of demand to the other is...

This article assesses the effects of a “fat tax” on the nutrients purchased by French households across different income groups. This is done by making a preliminary estimation of price elasticities using a complete demand system on household scanner data, and by calculating nutrient...

L'ambition de ce travail est d'evaluer quantitativement la capacite de l'epargne de precaution a s'assurer contre le risque de chomage dans le cadre d'une economie caracterisee par des risques idiosyncratiques se traduisa nt par une heterogeneite sur le marche du travail. Il apparaît que...

This paper develops a model with multiple steady states (low tax and low unemployment versus high tax and high unemployment) in which equilibrium selection is not conditioned on a sunspot variable. Instead, large temporary shocks initiate unavoidable transitions from one steady state to another....

In this paper, I compare a two-agent asset-pricing model with the corresponding model with a continuum of agents. In a two-agent economy, interest rates respond to idiosyncratic income shocks because each agent represents half of the population. These interest rate effects facilitate consumption...

We study how social interaction and friendship shape students' political opinions in a natural experiment at Sciences Po, the cradle of top French politicians. Quasi-random assignments of students into the same short-term integration groups before their scholar curriculum reduce political...

This survey reviews the recent research on trust, institutions and growth. It discusses the various measures of trust and documents the substantial heterogeneity of trust across space and time. The conceptual mechanisms and the methods employed to identify the causal impact of trust on economic...

A central concern about immigration is the integration into the labour market, not only of the first generation, but also of subsequent generations. Little comparative work exists for Europe's largest economies. France, Germany and the UK have all become, perhaps unwittingly, countries with...