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Kenza Benhima (University of Lausanne;CEPR)
May 27, 2025, 11:30–12:30, BDF, Paris, room En vidéo et en salle 4 de l'espace conférence
Using a unique dataset linking investors’ cross-country GDP growth expectations to their investments into mutual funds and to the mutual funds’ cross-country allocation, we show that, while the flows into the funds are sensitive to the investors’ fund-specific aggregate expectations (computed using...
Alessandro Bonatti (Massachusetts Institute of Technology)
TSE, May 27, 2025, 11:00–12:15, room Auditorium 3
We consider linear-quadratic games of incomplete information with Gaussian uncertainty, in which players’ payoffs depend both on a privately observed type and an unknown but common state. A monopolist data platform observes the state, elicits the players’ types, and sells information back to them...
Oleksandr Shcherbakov
TSE, May 26, 2025, 14:15–15:30, room Auditorium 4
We investigate the introduction of a central bank digital currency (CBDC) into the market for payments. Focusing on the point of sale, we develop and estimate a structural model of consumer adoption, merchant acceptance and usage decisions. We counterfactually simulate the introduction of a CBDC,...
Tomás Domínguez-Iino (University of Chicago, Booth School of Business)
Toulouse: TSE, May 26, 2025, 11:00–12:15, room Auditorium 4
I build an empirical model of the South American agricultural sector to show how environmental policy is transmitted along a supply chain when regulation at the externality’s source is infeasible. Given obstacles to a first-best carbon tax on farmers, I show how second-best alternatives—downstream...
Michel Benaim (Université de Neuchâtel)
Toulouse: TSE, May 26, 2025, 11:00–12:15, room Auditorium 3
A Piecewise Deterministic Markov Process (PDMP) is defined by a (finite) family of deterministic dynamical systems (usually ordinary differential equations) and a random clock. The system follows a given dynamic, and when the clock rings, it switches to another dynamic, randomly chosen. This type...
David Maas (Microsoft)
May 22, 2025, 17:00–18:15, room Zoom
Boragan Aruoba (University of Maryland, Baltimore)
May 21, 2025, 11:30–12:30, BDF, Paris, room Salle 6 de l'espace conférence and Online
Uncertainty triggers two confounding effects: a realization and an anticipation effect. By using the 2019 riots in Chile as a quasi-natural experiment, we show that the pricing behavior of supermarkets is consistent with a pure anticipation effect: during the 31-day period following the start of...
Rome, Italy, May 21 to May 21, 2025
Whitney K. Newey (Massachusetts Institute of Technology)
TSE, May 20, 2025, 15:30–16:50, room Auditorium 4
This paper develops linear estimators for structural and causal parameters in nonparametric, nonseparable models using panel data. These models incorporate unobserved, time-varying, individual heterogeneity, which may be correlated with the regressors. Estimation is based on an approximation of the...
Gianluca Violante (Princeton University)
TSE, May 20, 2025, 14:00–15:15, room Auditorium 4
We develop an equilibrium model to study the dynamic adjustment of a frictional labor market to aggregate shifts in the demand and supply of a job amenity. When preferences for the amenity are heterogeneous in the population, and its availability is heterogeneous across jobs, labor reallocation...
