Algorithmic Transparency and Portfolio Choices: Field Evidence (with Alexis Direr and Mehdi Louafi) This paper studies whether profile-based explanations influence investors’ acceptance of algorithmic risk recommendations in a randomized controlled trial embedded directly in the platform’s interface of a leading French robo-advisor. Users were assigned either to see graphical explanations of the drivers underlying their […]

Fiscal Fragmentation and the Evolution of Global Misallocation Resource misallocation is central to development, yet distortions are typically unobserved. We measure and characterise the evolution of a major source of global misallocation using more than a century of field-level data on production, inputs, and tax payments in a single sector -- the global oil and […]

The Household Demand for Leisure, the Price of Time and the Full Cost of Children: A Structural Model and Evidence from the PSID Abstract: We propose a novel approach to estimating the full cost of children - the sum of monetary and time costs - by endogenizing the price of parental time rather than assuming […]

Title : Teacher Value Added and Higher Education Choices Abstract : We study the role of teachers in shaping students' higher education choices in France. Focusing on "principal" teachers, we estimate their value added across a range of outcomes capturing students' post-secondary decisions, drawing on administrative data on higher education choices from 2012 to 2022. […]

Stimulating Efforts by Coarsening Information and Prize Design (joint with Fabio Michelucci)   We study a principal who jointly designs an information disclosure rule and a prize structure to maximize total effort in a two-agent contest. Agents are uncertain about their own ability and their opponent's ability. The principal commits to a public disclosure rule […]

Room A406.

U.S. Monetary Policy Spillovers to Emerging Equity Markets This paper examines the transmission of U.S. monetary policy shocks to stock return volatility in emerging economies. It develops a small open economy DSGE framework as a proof of concept for the propagation mechanism, showing how foreign monetary shocks can affect exchange rates, borrowing conditions, inflation, and […]