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International Women’s Day: what progress for women in Economics?
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International Women Day 2025-2

March 8 is a global day celebrating the achievements of women in every domain. This day gives focus to issues such as gender equality, reproductive rights, and violence and abuse against women. Accordingly to its work, CREST is engaged in supporting women in research at all scale.

Gender inequalities in academic careers in Economics: situation report

As other disciplines, Economics is facing under representation from women, more specifically in more advanced levels in their academic career. According to data collected in 2023 and 2024 by the Women in Economics committee (WinE) from The French Economic Association (AFSE), the proportion of women varies considerably by hierarchical level.

  • At junior levels, women represent around 45% of workforce (lecturers, researchers, and post-doctoral fellows).
  • As they progress up the career ladder, the proportion of women falls drastically, to just 28% to 31% at the professorial level (university professors, CNRS research directors).
  • A regional disparity also exists in Île-de-France (Paris area), the proportion of women is lower than in province, more particularly in more advanced careers.

This phenomenon, commonly called “leaky pipeline”, enlightens the general issue for women to access the most prestigious positions and to progress towards them. Various factors can explain this situation: the weight of stereotypes, less recognition of women’s work, the often greater mental and family burden, as well as systemic barriers such as the lack of female role models and support networks.

Far from being a simple observation, these results led to practical initiatives to encourage women to pursue and grow in an academic career in Economics.

The WinE committee: one initiative to promote Women in Economics.

Facing those inequalities, the French Economic Association (AFSE) launched in 2023 the Women in Economics committee (WinE), nowadays chaired by Prof. Emmanuelle Taugourdeau (CNRS, CREST, Institut Polytechnique de Paris). First, the committee led a thorough study on gender distribution in academic careers in economics in France, inspired by works carried out in the US and in Europe.

In 2024, the committee took a further step forward with the introduction of a mentoring program, aimed at young economists at the start of their careers.

This program is based on a mentor / mentee relationship, where experienced researchers guide doctoral students and young researchers in their professional careers.

The first results are encouraging:

  • 90 mentors volunteered to the program, among them 56% of women, demonstrating a strong desire to support withing the profession.
  • 57 young researchers applied to the program, including 62% of doctoral students, 29% of postdoctoral fellows, and 9% of economists in early stages of their career.
  • 42 pairs were connected: mentees receive their mentor’s contact information and initiate the communication.

Initial feedback from mentors has been very positive: they emphasize the sense of usefulness, and the fact that they can share concrete advice on academic careers and professional challenges.

As for the mentees, several testimonials underline the importance of the feeling of trust and of having a point of reference in an environment sometimes perceived as competitive and solitary.

This program is part of a wider drive to strengthen the presence of women in the economics and facilitate their progress in advanced positions, such as Women in Economics from the European Economics Association, the Committee on the Status of Women on the Economics Profession (CSWEP) from the American Economic Association, or the CEPR Women in Economics Initiative.

Women in Economics at CREST

We are also working with our institutions to promote supportive policies, such as improved maternity leave and reduced teaching loads.

Crest has inherited a poor gender ratio from a historical hiring trend that did not consider gender diversity. It is crucial to actively address gender inequalities, as diversity not only benefits women but also enriches the range of perspectives within institutions. Crest is committed to making these efforts, and progress is already underway.

For instance, in Economics, the recent hiring process for assistant professors resulted in recruiting more women than men (four women versus three men). We are also working with our institutions to promote supportive policies, such as improved maternity leave and reduced teaching loads. Additionally, Crest members strive to foster a collegial and supportive environment to help women find their place in the lab. While this support is often implicit, we strongly believe that such attitudes are essential for enabling women to fully thrive in their roles.

CREST PhD voices from Claire Leroy and Marion Brouard, in their 4th year of PhD, they were on the international job market this year to start their professional academic journey.

In the longer-run, I hope to reach a position in academia which will allow me to participate in these initiatives not as a potential beneficiary but also as someone that can help future generations of women economists after me.

I think that such initiatives are great for women economists. I have heard about several of them during my PhD, but I have never participated in one. On a daily basis, I do not think too much about being a woman in economics right now. One reason why is because as a PhD student at CREST I have generally felt as well regarded as other PhDs regardless of gender and (at least in earlier cohorts when I arrived), there was mostly gender parity in terms of composition of the PhD. However, as a soon-to-be assistant prof, I definitely know (from the many reports and statistics that have been produced and from informal conversations) that there is a lot more struggle for women at the next stage of their academic career.

Therefore, in the future, I think that I will pay closer attention to initiatives like those developed by WinE and participate in it. For example, we know that the tenure track is a key and stressful period where an assistant prof needs to put up a lot of work. Because of the biological clock, this period also often coincides with the time when women will think about having kids if they want ones. While most universities now offer an extension of the tenure clock in this case, research still show that women are penalized with delayed tenure and increased exit of academia after parenthood (Lassen & Ivandic[1]). I believe that committees like WinE can help inform researchers about such important issues, come up with possible solutions and help make them enforced in the profession.

In the longer-run, I hope to reach a position in academia which will allow me to participate in these initiatives not as a potential beneficiary but also as someone that can help future generations of women economists after me.

[1] https://www.aeaweb.org/articles?id=10.1257/pandp.20241118

Beyond awareness, these initiatives help young women find colleagues they can relate to or role models—something that can be difficult in a field where women are still underrepresented.

I haven’t actively participated in Women in Economics initiatives before, partly because CREST has provided me with an inclusive and aware environment. Otherwise, I would have likely joined, and I don’t exclude doing so in the future, as I believe these associations can be incredibly valuable for young women in economics.

Economics remains a male-dominated field, particularly when moving up the academic ladder, and while awareness of gender disparities has grown, inequalities and discrimination still persist. Associations like Women in Economics play an important role in shedding light on these issues, providing a platform for women to speak up, and fostering a sense of community where young women feel heard and supported while not having to worry about how they are perceived. Beyond awareness, these initiatives help young women find colleagues they can relate to or role models—something that can be difficult in a field where women are still underrepresented. For some, having such figures to look up to can make a difference in believing that, as a young woman, you can be successful while staying true to yourself.

CREST at the IP Paris IA Action Summit: Exploring AI for Economic Forecasting and Algorithmic Optimization

On February 6, 2025, Institut Polytechnique de Paris hosted the IA Action Summit at École polytechnique, a high-level event bringing together leading researchers, industry experts, and policymakers to discuss the transformative role of artificial intelligence. Among the distinguished participants, Anna Simoni and Vianney Perchet, researchers at CREST, presented their latest work on AI applications in macroeconomic forecasting and algorithmic optimization, respectively.

Macroeconomic Nowcasting with AI and Alternative Data – Anna Simoni

Anna Simoni (CNRS, ENSAE Paris, École polytechnique, Hi!Paris Fellow), presented her work on integrating artificial intelligence and alternative data to improve macroeconomic nowcasting. She addressed the challenge of forecasting key economic indicators such as GDP growth, inflation, and financial cycles in real time—an essential task for policymakers, financial institutions, and businesses.

Her research highlights the potential of AI to handle large, complex, and mixed-frequency datasets from both traditional (e.g., national statistics, financial markets) and non-traditional sources (e.g., Google search data, satellite imagery, mobile phone traffic, credit card transactions). By applying machine learning techniques, including dynamic factor models, neural networks, and Bayesian methods, her work demonstrates how AI-driven models can enhance nowcasting accuracy, detect economic shifts early, and provide better insights into economic trends.

Through real-world applications, including an analysis of Google search data for GDP nowcasting, her findings reveal that AI methods can significantly improve short-term economic predictions, especially in periods of high uncertainty or economic recessions. However, she also emphasized that AI models must be carefully designed to ensure interpretability and reliability, as pure data-driven approaches do not always outperform traditional methods.

AI-Powered AI: Enhancing Algorithmic Decision-Making – Vianney Perchet

Vianney Perchet, (GENES, Hi!Paris Fellow), introduced the concept of AI-powered AI, where artificial intelligence assists and improves algorithmic decision-making in various fields, from optimization to reinforcement learning and recommender systems.

He explored how AI-oracles—AI systems that provide tentative solutions to computational tasks—can be leveraged to accelerate decision-making processes. Through examples like binary search with AI hints, he demonstrated the trade-offs between consistency and robustness: algorithms must be able to trust AI-generated predictions when they are accurate but remain resilient when faced with imperfect or misleading information.

Perchet highlighted several fundamental challenges in AI-assisted algorithms, including:

  • Strategic AI usage: AI-oracle calls can be costly, requiring efficient selection mechanisms.
  • Combination of multiple AI sources: Different AI models may offer varying predictions, requiring aggregation methods to improve reliability.
  • Incentivization: AI models may have their own objectives, necessitating mechanisms to align them with user needs.
  • Learning from structure: AI-assisted algorithms must adapt and refine predictions over time for better long-term performance.
  • Beyond worst-case scenarios: Moving beyond rigid worst-case analyses toward realistic, instance-dependent performance guarantees.

His research opens exciting new perspectives for integrating AI into optimization problems, online learning, and algorithmic decision-making, with applications ranging from robotics and computer vision to financial forecasting and recommender systems.

CREST’s Commitment to AI Research

CREST’s involvement in the IP Paris IA Action Summit, through the contributions of Anna Simoni and Vianney Perchet,demonstrates the lab’s strong engagement in artificial intelligence research applied to economics, forecasting, and decision-making. Their work aligns with ongoing research at CREST on machine learning, reinforcement learning, and statistical AI methods, led by scholars such as Nicolas Chopin, Paola Tubaro, Bruno Crépon, and Olivier Gossner.

As AI continues to transform economic modeling and optimization, CREST continues its research of exploring how AI can enhance forecasting, decision processes, and strategic learning in uncertain environments.

Exploring Political and Economic Dynamics: A Conference with Guido Tabellini

On February 10, 2025, CREST and Institut Polytechnique de Paris partnered with ENSAE Paris and the AGORA association from ENSAE Paris to organize a scientific conference in honor of Guido Tabellini, a distinguished professor from Bocconi University. This event brought together researchers and students for an engaging discussion on key economic and political science issues shaped by Tabellini’s work.

The conference featured a series of presentations and discussions, highlighting Tabellini’s contributions to political economy, economic institutions, and policy-making. The event provided a unique opportunity for young researchers and students to interact with a leading figure in the field, fostering an enriching intellectual exchange.

Presentation: The Clan and the Corporation

Before starting his presentation, the conference began with Arnaud Pandevant, a current PhD student from CREST-École polytechnique who introduced Guido Tabeliini’s curriculum and research activities.

During the conference, Guido Tabellini presented his forthcoming Princeton University Press book “Two Paths to Prosperity: Culture and Institutions in Europe and China, 1000-2000” This work, developed with Avner Greif and Joel Mokyr, explores the historical divergence in economic and institutional development between China and Europe over the past millennium.

Tabellini examined how social organizations inherited from religious beliefs shaped economic outcomes, emphasizing the distinction between clans—which dominated local governance in China—and corporations, which played a key role in Europe’s economic and political development. His presentation traced how these social structures influenced state formation, governance, and innovation, ultimately contributing to the “Great Divergence” that saw Europe industrialize ahead of China.

His research delves into the impact of kinship-based networks in China that sustained local cooperation but limited institutional flexibility, while Europe’s associational culture, built on corporate institutions like guilds, universities, and self-governing cities, fostered economic dynamism and state capacity.

Seminar on “Disengaging from Reality: Online Behavior and Unpleasant Political News”

In addition to the conference, Guido Tabellini continued his engagement at CREST with a seminar on February 11, 2025, presenting his latest research titled: “Disengaging from Reality, Online Behavior and Unpleasant Political News.”

This study explores why, despite scandals and misconduct, partisan supporters often remain loyal to their favored political candidates. Tabellini and his co-author, Leonardo D’Amico (PhD candidate at Harvard University), analyze online engagement with negative political news during the 2016 U.S. Presidential Election. Their findings reveal that partisan users are more likely to ignore negative news about their preferred candidate while actively seeking out such news about their opponent—a behavior they define as a political “ostrich effect.”

Furthermore, when partisans do engage with unfavorable news about their own candidate, they tend to rationalize the behavior, react negatively, and frequently cite scandals of the opposing candidate as a form of counterargument. This behavior aligns with a model in which individuals experience psychological discomfort when exposed to dissonant information while finding pleasure in reaffirming their own beliefs.

Importantly, the study highlights how social media platforms exacerbate ideological segregation by amplifying users’ pre-existing biases. Since online interactions provide positive reinforcement for confirming one’s own views, these platforms become echo chambers that discourage engagement with opposing perspectives.

A Thought-Provoking Discussion

Both the conference and seminar sparked lively discussions among participants, emphasizing the broader implications of Tabellini’s research on political behavior, digital media, and democratic accountability. The findings resonate with contemporary debates on misinformation, polarization, and the role of social networks in shaping political discourse.

CREST, Institut Polytechnique de Paris, ENSAE Paris, and AGORA were honored to host Guido Tabellini and look forward to continuing collaborations that advance the understanding of economic and political dynamics in the digital age.

Peter Tankov’s Lecture at the IMF: The Financial and Environmental Impacts of Green Investing

Bridging Theory and Practice in Sustainable Finance

Last week, Peter Tankov, professor of quantitative finance at CREST-ENSAE Paris, delivered a six-hour class at the International Monetary Fund (IMF) Institute for Capacity Development. The training, aimed at economists working in various departments of the IMF, explored the financial and environmental impacts of green investing, a topic that is increasingly central to global economic policies.

Tankov’s session addressed both the theoretical foundations and practical applications of sustainable investment strategies, emphasizing their dual role in shaping financial markets and environmental outcomes.

Understanding Green Investing: Financial and Environmental Implications

The class was structured around two core dimensions:

  1. Financial Impact of Green Investing

Tankov analyzed how the increasing participation of green investors influences asset pricing and portfolio returns. The discussion covered key topics such as:

  • The differential returns between green and brown assets
  • ESG rating uncertainty and its influence on investment decisions
  • The potential for green bubbles, where speculative enthusiasm drives asset prices beyond fundamentals
  • The role of transition risks, particularly as regulatory frameworks evolve
  1. Environmental Impact of Green Investing

Beyond financial metrics, the session explored the real-world environmental effects of sustainable investments. Topics included:

  • The mechanisms of impact investing—how investors can generate measurable environmental benefits alongside financial returns
  • The effectiveness of shareholder engagement in influencing corporate sustainability practices
  • How price signaling affects both the cost of capital for firms and their environmental performance

The reasons and consequences of the recent ESG backlash, which originated in the US but may spill over to Europe, were also discussed.

As a key economic policy advisor to governments and central banks worldwide, the IMF is well aware of the importance of accounting for climate risks—both those arising from the physical impacts of climate change and those resulting from the profound economic transformations it triggers, including the shift towards greener investment processes. Academic collaborations such as this one enable the IMF to further develop its in-house expertise on these critical issues.

These are challenging times for the practice of green investing, but from a research perspective, the past five years have been pivotal. We now have a much deeper understanding of its mechanics and impact—not just empirically but also through theoretical models. As governments relax reporting obligations and financial institutions engage in green-hushing, the role of academia and NGOs in driving progress has never been more crucial.

Florian Grosset for VoxTalks Economics: Can planting trees change the climate?

Florian Grosset-Touba interviewed by Tim Phillips

Recorded at the CEPR Paris Symposium. At COPs or the WEF, we regularly hear about ambitious tree-planting initiatives. These massive programs have been praised as a way to motivate entire communities to join the fight against climate change, but do we know what their impact on the environment or the economy would be? An ingenious piece of research that evaluates a century-old environmental policy in the US gives us a valuable new insight into what planting trees, if done carefully, can achieve. Florian Grosset-Touba spoke to Tim Phillips about the history of tree-planting programmes, where and how to plant them, and the potential impact on the climate and the economy.

7 Feb 2025