We ask whether women's decisions to be in the labor force may be affected by the decisions of other women in ways not captured by standard models. We develop a model that augments the simple neoclassical framework by introducing relative income concerns into women's (or families') utility functions. In this model, the entry of some women into paid employment can spur the entry of other women, independently of wage and income effects. This mechanism may help to explain why, over some periods, women's employment appeared to rise faster than could be accounted for by the simple neoclassical model. We test the model by asking whether women's decisions to seek paid employment depend on the employment decisions of other women with whom relative income comparisons might be important. In particular, we look at the effects of sisters' employment on women's own employment. We find strong evidence that women's employment decisions are positively related to their sisters' employment decisions. We also take account of the possibility that this positive relationship arises from heterogeneity across families in unobserved variables affecting the employment decision. We conduct numerous empirical analyses to reduce or eliminate this heterogeneity bias. We also look at the relationship between husbands' relative income and wives' employment decisions. In our view, the evidence is largely supportive of the relative income hypothesis.

Relative Income Concerns and the Rise in Married Women's Employment

Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) continued to mutate and spread in 2022 despite the introduction of safe, effective vaccines and medications. Vaccine hesitancy remains substantial, fueled in part by misinformation. Our third study of Coronavirus Disease 2019 (COVID-19) vaccine hesitancy among 23,000 respondents in 23 countries (Brazil, Canada, China, Ecuador, France, Germany, Ghana, India, Italy, Kenya, Mexico, Nigeria, Peru, Poland, Russia, Singapore, South Africa, South Korea, Spain, Sweden, Turkey, the United Kingdom and the United States), surveyed from 29 June to 10 July 2022, found willingness to accept vaccination at 79.1%, up 5.2% from June 2021. Hesitancy increased in eight countries, however, ranging from 1.0% (United Kingdom) to 21.1% (South Africa). Almost one in eight (12.1%) vaccinated respondents are hesitant about booster doses. Overall support for vaccinating children under 18 years of age increased slightly but declined among parents who were personally hesitant. Almost two in five (38.6%) respondents reported paying less attention to new COVID-19 information than previously, and support for vaccination mandates decreased. Almost a quarter (24%) of those who became ill reported taking medications to combat COVID-19 symptoms. Vaccination remains a cornerstone of the COVID-19 pandemic response, but broad public support remains elusive. These data can be used by health system decisionmakers, practitioners, advocates and researchers to address COVID-19 vaccine hesitancy more effectively. In the third annual iteration of a survey assessing vaccine confidence in 23 high-income, middle-income and low-income countries, although results were heteregeous across countries, overall willingness to accept a COVID-19 vaccine was found to have increased. 

/pdf/a-survey-of-covid-19-vaccine-acceptance-across-23-countries-2nd9qrxy.pdf

A survey of COVID-19 vaccine acceptance across 23 countries in 2022

http://www.cepii.fr/PDF_PUB/wp/2009/wp2009-18.pdf

Local export spillovers in France

The standard model of optimal growth, interpreted as a model of a market economy with infinitely long-lived agents, does not allow separation of the savings decisions of agents from the investment decisions of firms. Investment is essentially passive: the "one good" assumption leads to a perfectly elastic investment supply; the absence of installation costs for investment leads to a perfectly elastic investment demand. On the other hand, the standard model of temporary equilibrium used in macroeconomics characterizes both the savings-consumption decision and the investment decision, or, equivalently, derives a well-behaved aggregate demand which, in equilibrium, must be equal to aggregate supply. Often, however, we want to study the movement of the temporary equilibrium over time in response to a particular shock or policy. The discrepancy between the treatment of investment in the two models makes imbedding the temporary equilibrium model in the growth model difficult. This paper characterizes the dynamic behavior of the optimal growth model with adjustment costs. It shows the similarity between the temporary equilibrium of the corresponding market economy and the short-run equilibrium of standard macroeconomic models: consumption depends on wealth, investment on Tobin's q. Equilibrium is maintained by the endogenous adjustment of the term structure of interest rates. It then shows how the equivalence can be used to study the dynamic effects of policies; it considers various fiscal policies and exploits their equivalence to technological shifts in the optimal growth problem.

An Intertemporal Model of Saving and Investment

Using panel data for 2,329 Belgian firms observed between 1985 and 1999, this paper aims at getting a better understanding of Belgian firms' investment behavior. Two main and interrelated topics are investigated: the link between financial structure and investment decision, on the one hand, the effect of uncertainty on the level of investment, on the other hand. Such research sets forth the effect of some key variables, both in terms of level and volatility. The study is conducted within a structural approach but reduced form equations are also estimated. A generalised dynamic effect is investigated by introducing adjustment costs related through time. From that study, it clearly appears that small firms and high debt level firms are more sensitive to interest rate and cash flow. However, no role for investment price volatility is observed.

/pdf/finance-uncertainty-and-investment-assessing-the-gains-and-3z02vub570.pdf

Finance, uncertainty and investment: assessing the gains and losses of a generalized non linear structural approach using belgian panel data

Abstract In the COVID-19 pandemic many countries required COVID certificates, proving vaccination, recovery, or a recent negative test, to access public and private venues. We estimate their effect on vaccine uptake for France, Germany, and Italy using counterfactuals constructed via innovation diffusion theory. The announcement of COVID certificates during summer 2021 were associated – although causality cannot be directly inferred – with increased vaccine uptake in France of 13.0 (95% CI 9.7–14.9) percentage points (p.p.) of the total population until the end of the year, in Germany 6.2 (2.6–6.9) p.p., and in Italy 9.7 (5.4–12.3) p.p. Based on these estimates, an additional 3979 (3453–4298) deaths in France, 1133 (−312–1358) in Germany, and 1331 (502–1794) in Italy were averted; and gross domestic product (GDP) losses of €6.0 (5.9–6.1) billion in France, €1.4 (1.3–1.5) billion in Germany, and €2.1 (2.0–2.2) billion in Italy were prevented. Notably, in France, the application of COVID certificates averted high intensive care unit occupancy levels where prior lockdowns were instated. 

/pdf/the-effect-of-covid-certificates-on-vaccine-uptake-health-3c9240bq.pdf

The effect of COVID certificates on vaccine uptake, health outcomes, and the economy

Evolution récente du commerce extérieur français

Réunification allemande dynamique et contraintes: Un cadre d'analyse@@@Reunification allemande dynamique et contraintes: Un cadre d'analyse


 In the COVID-19 pandemic, governments have used various interventions,1,2 including COVID certificates as proof of vaccination, recovery, or a recent negative test, required for individuals to access shops, restaurants, and education or workplaces.3 While arguments for and against COVID certificates have focused on reducing transmission and ethical concerns,4,5 the effect of the certificates on vaccine uptake, public health, and the economy requires investigation. We construct counterfactuals based on innovation diffusion theory6 and validate them with econometric methods7 to evaluate the impact of incentives created by COVID certificates in France, Germany, and Italy. We estimate that from their announcement during summer 2021 to the end of the year, the intervention led to increased vaccine uptake in France of 13.0 (95% CI 9.7–14.9) percentage points (p.p.) of the total population, in Germany 6.2 (2.6–6.9) p.p., and in Italy 9.7 (5.4–12.3) p.p.; averted an additional 3,979 (3,453–4,298) deaths in France (i.e., 31.7%), 1,133 (-312–1,358) in Germany (5.6%), and 1,331 (502–1,794) in Italy (14.0%); and prevented gross domestic product (GDP) losses of €6.0 (5.9–6.1) billion in France, €1.4 (1.3–1.5) billion in Germany, and €2.1 (2.0–2.2) billion in Italy. Notably, the application of COVID certificates substantially reduced the pressure on intensive care units (ICUs) and, in France, averted surpassing the occupancy levels where prior lockdowns were instated. Overall, our findings are more substantial than predicted8 and may help to inform decisions about when and how to employ COVID certificates to increase vaccination and thus avoid stringent interventions, such as closures, curfews, and lockdowns, with large social and economic consequences.

The effect of COVID certificates on vaccine uptake, public health, and the economy

https://www.cairn-int.info/load_pdf.php?ID_ARTICLE=E_NCAE_003_0001&download=1

Completing the Euro

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