Stéphane CARCILLO has an upcoming publication in an important economic journal

Stéphane CARCILLO and his co-authors, Pierre CAHUC and Thomas BARBACHON, have penned a forthcoming publication in the important peer-reviewed journal, the Review of Economic Studies.

Stéphane Carcillo, a Research Fellow at the Department, is specialized in labour economics, public policy, and microeconometrics. 

He is the Executive Director of the Chair of Career Paths Security at Sciences Po and GENES, as well as Senior Economist at the Organisation for Economic Co-operation and Development Research Fellow at IZA (Institute for the Study of Labor).

Stéphane CARCILLO was recently appointed to the Conseil d’Analyse Economique as well as to the Conseil d’Orientation de l’Emploi, two advisory bodies attached to the French Prime Minister’s Office.

The article to be published reflect his research themes :

"Effectiveness of Hiring Credits" in The Review of Economic Studies, (2018) 0 : pp 1 - 34  (link)

Abstract :
This article analyses the effectiveness of hiring credits. Using comprehensive administrative data, we show that the French hiring credit, implemented during the Great Recession, had significant positive employment effects and no effects on wages. Relying on the quasi-experimental variation in labour cost triggered by the hiring credit, we estimate a structural search and matching model. Simulations of counterfactual policies show that the effectiveness of the hiring credit relied to a large extent on three features: it was non-anticipated, temporary and targeted at jobs with rigid wages. We estimate that the cost per job created by permanent hiring credits, either countercyclical or time-invariant, in an environment with flexible wages would have been much higher.