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Harald Hau (Université de Genève)
Toulouse: TSE, December 2, 2024, 11:00–12:30, room Auditorium 3
Using comprehensive new contract level data (EMIR) for the period 2019-2023, we explore how the FX derivative trading by European funds compares to a feasible theoretical benchmark of optimal hedging. We find that hedging behavior by all fund types is often partial, unitary (i.e., with a single...
November 29, 2024, 09:00–17:00, room Building TSE
Alexandros Gelastopoulos (Toulouse School of Economics)
Toulouse: TSE, November 28, 2024, 11:00–12:30, room Auditorium 4
Whether it is about choosing a party to vote for, deciding whether to adopt an innovation, selecting music to listen to, or which social media application to use, people tend to select options that many other people have selected before them. This creates a feedback loop in which popular options...
Gudmundur Stefan Gudmundsson (Aarhus University)
TSE, November 26, 2024, 15:30–16:50, room Auditorium 4
I propose an algorithm that partitions the series of a large vector autoregression (VAR) into groups based on the spillover structure. The novelty of the procedure is that it is capable of simultaneously detecting both the giver and receiver group structures. I study the properties of the algorithm...
Marta Cota (Universidade Nova de Lisboa)
TSE, November 26, 2024, 14:00–15:30, room Auditorium 4
This paper examines how financial literacy shapes households' mortgage decisions through a structural model of mortgage search. Using a unique U.S. dataset that integrates detailed mortgage information with objective measures of financial literacy, we find that households with lower financial...
Karine Nyborg
Toulouse: IAST, November 26, 2024, 11:30–12:30, room Auditorium 4 (First floor - TSE Building)
We demonstrate how the preference to be highly regarded by others as well as oneself can drive strong polarization and segregation. Being highly regarded by someone requires conforming to that person’s normative views. We assume that if normative views move towards one extreme, image costs increase...
Nicolas Vieille (HEC, Paris)
Toulouse: TSE, November 26, 2024, 11:00–12:30, room Auditorium 3
We consider social learning in a changing world. With changing states, societies can be responsive only if agents regularly act upon fresh information, which significantly limits the value of observational learning. When the state is close to persistent, a consensus whereby most agents choose the...
William Rafey (University California - Los Angeles)
Toulouse: TSE, November 25, 2024, 14:15–15:30, room Auditorium 4
We introduce an empirical framework for valuing markets in environmental offsets. Using newly-collected data on wetland conservation and offsets, we apply this framework to evaluate a set of decentralized markets in Florida, where land developers purchase offsets from long-lived producers who...
Claire Celerier (Rotman School of Management - University of Toronto)
Toulouse: TSE, November 25, 2024, 11:00–12:30, room Auditorium 6
A long time series of individual faculty wages across public and private four-year institutions in the U.S. and Canada reveals increasing pay heterogeneity across disciplines, with economics - and especially finance - emerging as well-compensated fields. We identify a causal relationship between...
November 22, 2024, 12:45–13:45, Toulouse: IAST
