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Valentin Haddad
IDEI, December 17, 2012, 12:30–14:00, room MS003
I study the dynamics of asset prices in an economy in which investors choose whether to hold diversified or levered concentrated portfolios of risky assets. The latter are valuable, as they increase the productivity of the corresponding enterprises. I capture the tradeoff between risk sharing and...
Toulouse, December 17–18, 2012
Aude Illig (Université Versailles Saint-Quentin)
Toulouse: TSE, December 14, 2012, 13:45–15:00, room MF 323
We consider a birth and growth model with germs being born according to a Poisson point process whose intensity measure is invariant under translations in space. The germs can be born in unoccupied space and then start growing until they occupy the available space. In this general framework, the...
David Albouy (University of Michigan)
Toulouse: TSE, December 14, 2012, 11:00–12:30, room MC 203
We use a frictionless neoclassical general-equilibrium model to explain cross-metro variation in population density and other urban quantities based on 3 broad amenity types: quality of life, productivity in tradeables, and productivity in non-tradeables. Analytically, we demonstrate the dependence...
Laura Fortunato (Santa Fe Institute)
Toulouse: IAST, December 14, 2012, 11:00–12:00, room MF323
Leah Boustan (University of California)
Toulouse: IAST, December 13, 2012, 15:30–16:30, room MF323
During the Age of Mass Migration, the US maintained open borders and absorbed 30 million European immigrants. Using cross-sectional data, prior work on this era finds that immigrants held lower-paid occupations than natives upon first arrival but experienced rapid convergence. In newly-assembled...
Loic Batte (Toulouse School of Economics)
Toulouse: TSE, December 13, 2012, 12:45–14:00, room MF 323
This paper aims at studying how demographic changes impact the public provision of social security and publicly-funded education, when these policies are determined as the outcome of a vote that involves both contributory and beneficiary generations. To this end, I set up an OLG model with...
Manufacture des Tabacs, Toulouse, France, December 13–14, 2012
Roger Moon (University of Southern California)
Toulouse: TSE, December 11, 2012, 15:30–17:00, room MS001
We extend the Berry, Levinsohn and Pakes (BLP, 1995) random coefficients discretechoice demand model, which underlies much recent empirical work in IO. We add interactive fixed effects in the form of a factor structure on the unobserved product characteristics. The interactive fixed effects can be...
Jacques Crémer (Toulouse School of Economics)
Toulouse: TSE, December 11, 2012, 11:00–12:30, room MS 001
We study the dynamics of competition in a model with network effects, an incumbent and entry. We propose a new equilibrium concept which takes formally into account the strategic advantages of incumbency in a static model. We then embed this static analysis in a dynamic framework with heterogeneous...
