Caroline Le Pennec-Çaldichoury
Department of Applied Economics
HEC Montréal
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I am an Assistant Professor in the Department of Applied Economics at HEC Montréal and a CEPR Research Affiliate within the Political Economy programme . I received a PhD in Economics from UC Berkeley in 2020.
I am also a researcher at the Center for the Study of Democratic Citizenship and an affiliate of the Monash SoDa Labs.
Research interests: Political Economy, Electoral Competition, Campaign Communication, Money and Politics
E-mail: caroline.le-pennec@hec.ca
CV: here
Publications:
Publications:
Keep your Enemies Closer: Strategic Platform Adjustments during U.S. and French Elections (with Rafael Di Tella, Randy Kotti and Vincent Pons) The American Economic Review, vol. 115, no. 8 (August 2025): 2488-2528.
Online Appendix ; Replication Package
Co-winner of the European Politics & Society Best Paper Award 2022.
Coordination and Incumbency Advantage in Multi-Party Systems - Evidence from French Elections (with Kevin Dano, Francesco Ferlenga, Vincenzo Galasso and Vincent Pons) The Journal of the European Economic Association, vol. 23, no. 4 (August 2025): 1563-1597.
Online Appendix ; Replication Package
Media coverage: VoxEU
Firm Donations and Political Rhetoric: Evidence from a National Ban (with Julia Cagé and Elisa Mougin), The American Economic Journal: Economic Policy, vol. 16, no. 3 (August 2024): 217-256. https://doi.org/10.1257/pol.20220218
Online Appendix ; Replication Package
Strategic Campaign Communication: Evidence from 30,000 Candidate Manifestos, The Economic Journal, vol. 134, no. 658 (February 2024): 785–810. https://doi.org/10.1093/ej/uead082
Online Appendix ; Replication Package
How do Campaigns Shape Vote Choice? Multi-Country Evidence from 62 Elections and 56 TV Debates (with Vincent Pons), The Quarterly Journal of Economics, vol. 138, no. 2 (May 2023): 703-767. https://doi.org/10.1093/qje/qjad002
Online Appendix ; Replication Package
Media coverage: NPR, VoxEU, Le Point, Financial Times, BBC, Scientific American, Mint, Poynter, Fast Company, Spectrum News
Work in Progress:
Work in Progress:
Promises, Policies, and Accountability (with Claudio Ferraz)
Corporate Enagement with Societal Issues in the U.S. (with Andy Hall, Magdalena Larreboure, Vincent Pons and Anna Sun)
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