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Nina Boyarchenko
TSE, March 31, 2014, 12:30–14:00, room MF 323
Agency mortgage-backed securities (MBS), which carry essentially no credit risk from the point of view of investors, nevertheless often trade at significant spreads to other credit-risk free instruments, even after accounting for the prepayment option embedded in MBS. In this paper, we argue that “...
Pierre Lasserre (Université du Québec à Montréal)
Toulouse: TSE, March 31, 2014, 11:00–12:30, room MS 001
The tree harvest problem of forest management is an archetypal investment problem; it involves time, uncertainty, and irreversible actions with consequences in the future. The exercise of the option to cut a tree opens the option of planting a new one or of using the land for alternative purposes....
Christine Grün (University of Toulouse Capitole)
Toulouse: TSE, March 28, 2014, 14:00–15:15, room MF 323
In this talk we consider an infinite horizon non zero sum stochastic differential game with a maximum of two players. The players control a diffusion in order to minimise a certain cost functional. During the game it is possible that present players may die or a new player may appear. The death,...
Flavio Toxvaerd (Cambridge University)
Toulouse: IAST, March 28, 2014, 11:30–12:30, room MS001
This paper fully characterizes the optimal control of a recur- rent infectious disease through the use of prevention and treatment. We find that under centralized decision making, treatment induces positive destabilizing feed- back effects, while prevention induces negative stabilizing feedback...
Pauline Grosjean (Australian School of Business)
Toulouse: IAST, March 27, 2014, 15:30–16:30, room MF323
We document the implications of missing women in the short and long run. We exploit a natural historical experiment, which sent large numbers of male convicts and far fewer female convicts to Australia in the 18th and 19th century. In areas with higher gender imbalance, women historically married...
Jean Marie Baland (Université de Namur)
Toulouse: TSE, March 27, 2014, 11:00–12:30, room MF 323
In this paper, we develop a North-South model to investigate the impact of social labelling, which certifies the adoption of high labour standards in the production of exports to the North. We show that the adoption of a label is never Pareto-improving if (i) a small fraction of eligible producers...
Ingrid Van Keilegom (Université Catholique de Louvain)
Toulouse: TSE, March 25, 2014, 15:30–17:00, room MS 001
Consider a nonparametric nonseparable regression model Y=g(Z,U), where g(Z,U) is increasing in U and U is uniform on [0,1]. We suppose that there exists an instrument W that is independent of U. The observable random variables are Y, Z and W, all one-dimensional. The purpose of this paper is...
Fadoua Balabdaoui (Université Paris-Dauphine)
Toulouse: TSE, March 25, 2014, 14:00–15:30, room MF 323
Log-concavity is a flexible and appealing modeling assumption which has been widely used in nonparametric density estimation. In this work, we extend this model to the discrete setting and study the log-concave maximum likelihood estimator (MLE) of a probability mass function (pmf). We show that...
Daniel Andrei
March 25, 2014
Jean Tirole (Toulouse School of Economics)
Toulouse: TSE, March 24, 2014, 17:00–18:30, room MS 001
The recent unravelling of the Eurozone’s financial integration raised concerns about feedback loops between sovereign and banking insolvency, and provided an impetus for the European banking union. This paper provides a “double-decker bailout” theory of the feedback loop that allows for both...
