Mardi 27 février 2018

Economie appliquée | 12:30-13:30
Salle R2-01, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
ANGELUCCI Charles (Columbia Business School) : The Medieval Roots of Inclusive Institutions : From the Norman Conquest of England to the Great Reform Act

PSI PSE | 17:00-18:00
Salle R1-13, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
RANALDI Marco : On the Measurement of Functional Income Distribution
Résumé

The present work proposes a framework for the analysis of inequality in income composition. Hinging on the recent work by Ranaldi (2017), we here propose a metric of income-factor polarization, the Income-Factor Polarization Index (If), that captures the extent to which two income sources, notably profits and wages, are polarized across the distribution of income. We measure income-factor polarization as the distance between the Polarization Curve for Income Source and the Zero-Polarization Curve, suitably normalized. The former is the cumulative distribution of income source across the population with individuals being indexed by their income rank, and the latter is the benchmark of zero inequality in income composition, defined as the situation in which each individual has the same population share of profits and wages (Ranaldi, 2017). The greater the distance, the higher the polarization. We show that the index narrows down to a single one the two conditions for the rising share of capital income to increase overall income Gini introduced by Milanovic (2017), which is : If > 0. The methodology is finally illustrated via an empirical application on the case of Italy. Here is the corresponding working paper : https://halshs.archives-ouvertes.fr...

Jeudi 1er mars 2018

TOM | 12:30-13:30
Salle R2-20, campus Jourdan - 48 bd Jourdan 75014 Paris
HA-HUY Thai (Université d’Evry) : A Not so Myopic Axiomatization of Discounting
Co-authors : DRUGEON Jean-Pierre
Résumé

This article builds an axiomatization of inter-temporal trade-offs that makes an explicit account of the distant future and thus encompasses motives related to sustainability, transmission to offsprings and altruism. The focus is on separable representations and the approach is completed following a decision-theory index based approach that is applied to infinite dimension streams. This enlightens the limits of the commonly used flat tail intensity requesites for the evaluation of utility sequences : in this article, these are supersed and replaced by an axiomatic approach to optimal myopy degrees that in its turn precedes the determination of optimal discount. The overall approach is anchored on the new and explicit proof of a temporal decomposition of the preference orders between the distant future and the close future itself directly anchored on the determination of the optimal myopia degrees. The argument is shown to provide a novel understanding of temporal biases with the scope for a distant future bias when the finite dimensional gets influenced by the infinite dimensional. The reference to robust orders and pessimism-like axioms finally allows for determining tractable representations for the indexes.