• Violette Pinçon : “Financial Delegation in the Context of SRI“

Abstract:

“Socially responsible investment (SRI) plays a crucial role in promoting a sustainable society, but several obstacles remain. This study examines the impact of financial delegation on SRI, particularly the implications of conflicting interests between investors and financial intermediaries. I propose a model of strategic interaction between an investor and a money manager with heterogeneous extra-financial preferences over two assets and uncertainty about the types of agents. In the future, I plan to test the results of the model in an experimental setting.”

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• Maël Jammes (CEE-M) : “The Contribution of Air Pollution to Agglomeration Economies“

Abstract:

“This study aims to identify the portion of productivity variation caused by an increase in city size (i.e., agglomeration economies) attributable to air pollution exposure. I employ the well-known agglomeration economies identification strategy introduced by Ciccone and Hall (1996) and extended by Combes et al. (2010), based on historical population data. Additionally, I develop a slightly different approach using data from World War I and the mining industry during this period. The contribution of air pollution exposure to agglomeration economies appears to be higher in the approach I introduce compared to the traditional one. This finding calls into question the existing identification strategy and highlights the significant impact of air pollution exposure on the spatial distribution of economic activity.”

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