Paul MAAREK Banque de France 39 rue Croix des Petits Champs 75049 Paris cedex 01 France T´el. :+33 (0)1 42 92 91 56 E-mail : [email protected]

N´ee le 28 oct 1983 `a Puyricard (Fr) Nationalit´e : Fran¸caise C´elibataire mis ` a jours le 21 mars 2011

Emploi Oct 10 – Present

Post-Doc Banque de France

Oct 10 – Present

Vacataire Universit´e Paris-Dauphine

Oct 09 – Sept 10

ATER Universit´e du Maine

Oct 06 – Oct 09

Moniteur Universit´e de la M´editerran´ee

Formation 2010

Doctorat ` es Sciences Economiques , Mention tr`es honnorable, f´elicitation du jury ` a l’hunanimit´e, nomination pour un prix de th`ese GREQAM et Aix-Marseille Universit´e Titre : D´ eveloppement, globalisation et part des salaires dans la valeur ajout´ ee Directeur de th`ese : Professeur Bruno Decreuse Soutenance : 1er f´evier 2010 Jury : Pr. Pierre Cahuc, Pr. Gilbert Cette C´ecilia Garcia Penalosa, Pr. Frank Portier and Pr. Farid Toubal

2006

Master II Economie, Finance et Affaires Internationales Sp´ecialit´e Economie Internationale. Mention tr`es bien, Major de promotion GREQAM-DEFI, Aix-Marseille Universit´e

Financements 2006–2009

Allocataire de recherche , Minist`ere Fran¸cais de la Recherche

2005–2006

Bourse de Master sur crit` eres universitaires , Minist`ere Fran¸cais de l’Education

Domaines de Recherche Macro´economie, Economie Internationale, Economie du Travail, Economie du D´eveloppement, Econom´etrie Appliqu´ee

Documents de travail

1. FDI and the labor share in developing countries : A theory and some evidence, 2010 avec Bruno Decreuse R´evision : Review of International Economics 2. Which factor bears the cost of currency crises ?, avec Elsa Orgiazzi, 2010 ; soumis pour publication 3. Labor share, development, and the informal sector, 2010 4. Can the HOS model explain changes in labor shares ? A tale of trade and wage rigidities, avec Bruno Decreuse, 2010 ; soumis pour publication

Recherches en cours

1. On the causal impact of development on the labor share of income : lessons from a natural experiment, en cours 2. Inefficient taxation, information and political transitions, avec Michael Dorsch, en cours 3. International trade and flexibility in employee/employer relations : Evidence from france, avec Fergal Mc Cann, en cours 4. Upstream and Downstream regulations on goods market, labor market institutions and rent sharing : A sectoral analysis, avec Philippe Askenazy et Gilbert Cette, en cours

Communications en Conf´ erences European Economic Association (2010), Society of Economic Dynamics (2010), European Association of Labor Economics (2009), European Meeting of the Econometric Society (2009), Journ´ee Louis-Andr´e G´erard-Varet (2009), Research in International Economics and Finance (2009, 2010), Agents interactions, Market interdependences and Aggregate instabilities (2009), Association Fran¸caise de Sciences Economiques (2008), 7th annual postgraduate conference-leverhulme center for globalization (2008), Theory and Methods in Macroeconomics, (2008, 2010), Labor Market Outcome : A transatlantic Perspective (2008), Open Macroeconomics and Development Meeting (2007), Ecole d’Et´e en Economie du Travail, (2007)

R´ ef´ erences Pierre Cahuc : [email protected] Bruno Decreuse : [email protected] Cecilia Garcia-Pe˜ nalosa : [email protected] Farid Toubal : [email protected]

R´ esum´ e des travaux joints au dossier de candidature

FDI and the labor share in developing countries : A theory and some evidence : We address the effects of FDI on the labor share in developing countries. Our theory relies on the impacts of FDI on productive heterogeneity in a frictional labor market. FDI have two opposite effects : a negative force originated by technological advance, and a positive force due to increased labor market competition between firms. We test this theory on aggregate panel data through fixed effects and system-GMM estimations. We find a U-shaped relationship between the labor share in the manufacturing sector and the ratio of FDI stock to GDP. Most countries are stuck in the decreasing part of the curve. Which factor bears the cost of currency crises ? : This paper identifies which of the two factors, namely labour and capital, bears the cost of currency crises and for what reasons. It analyzes two main types of effects that currency crises may have on the labour share : across sector effects and within sector effects. We build a descriptive model with a tradable sector and a non-tradable one which can differ in their capital intensities so that structural changes occurring during currency crises may change the aggregate level of the labour share. The model also highlights that crises erode the bargaining power of workers so that within sectors, crises lower the labour share. We perform estimations on manufacturing sectoral panel data for 20 countries which have experienced currency crises. We conclude that currency crises lower the aggregate manufacturing labour share by 2 points on average and that this decline reflects mostly changes within sectors. Labor share, development, and the informal sector : This paper aims at understanding the pattern of the labor share during the development process. We show that the labor share follows a U-shapped pattern along the development path. Our theory emphasizes the interplay between firms’ monopsony power and the size of the informal sector when the formal labor market is frictional. The size of the informal sector parameterizes workers’ outside opportunities in wage setting. In a first stage of development, productivity gains are not compensated by wage increases, as most of workers’ outside opportunities depend on the informal sector whose productivity remains unchanged. The labor share decreases as a result. In a second stage of development, outside opportunities rely more on productivity in formal firms as the formal sector expands. Consequently, the labor share increases. Can the HOS model explain changes in labor shares ? A tale of trade and wage rigidities : This paper questions the ability of the standard HOS model to explain changes in the labor shares (LS) of income in OECD countries. We use Davis model where there is a wage rigidity in a sub-group of country. We show that trade openness with developing countries reduces LS in rigid-wage countries, and does not affect LS in free-wage countries. This pattern is induced by factor reallocation towards capital-intensive sectors in rigid-wage countries. Using

the KLEMS dataset for 8 OECD countries over the period 1970-2005, we show that the weight of capital-intensive sectors substantially increased in Continental European countries, while it did not change or even decreased in the US and the UK. Fixed effects regressions suggest that trade intensity with China explains between 30 (IV estimates) and 60 percents (OLS estimates) of the observed differential labor share change between Continental Europe and Anglo-Saxon countries.