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Fabrizio Zilibotti (University of Zurich)
Toulouse: TSE, March 19, 2012, 17:00–18:30, room Amphi S
A major dilemma facing China is the extent to which the benefits of high growth can be shared more equally within and across cohorts. China will experience a sharp increase in the old-age dependency ratio which may undermine the sustainability of its pension system, arguably the most important...
Teresa Serra (Instituto de Empresa)
Toulouse: TSE, March 19, 2012, 15:00–16:30, room MF 323
This article studies US corn price fluctuations in the past two decades. Price volatility is explained by volatility clustering, the influence of energy prices, corn stocks and global economic conditions. A multivariate GARCH specification that allows for exogenous variables in the conditional...
Toni Whited
IDEI, March 19, 2012, 12:30–14:00, room MF323
We quantify the extent to which nonfundamental movements in the price of a firm’s stock affect its policies. We estimate a version of a constant returns neoclassical investment model in which equity financing is costly, the firm can accumulate cash, and, most importantly, equity values can be...
Pierre Dubois (TSE), and Andy Russell (SEEM)
Toulouse: IAST, March 16, 2012, 14:00–15:30, room MS001
Pierre Dubois (TSE)
Olivier Pironneau (Université Pierre et Marie Curie)
Toulouse: TSE, March 16, 2012, 13:45–15:00, room MF 323
Mixing Monte-Carlo and PDE methods can substantially speed-up computations because it allows use of closed form solutions for some of the components. It can also solve problems like unknown boundary conditions for complex stochastic volatility models. Applying the method combined with Longstaff-...
Paris, France, March 16 to March 16, 2012
Mark Dincecco (IMT Institute for Advanced Studies)
Toulouse: IAST, March 15, 2012, 15:30–17:00, room MF323
We examine the long-term links between state capacity and economic performance. Our database is novel and spans 11 countries and 4 centuries in Europe, the birthplace of modern economic growth. A dynamic simultaneous equation panel model indicates that the performance effects of states with modern...
Christopher Rauh (Universitat Autonoma de Barcelona)
Toulouse: TSE, March 15, 2012, 12:45–14:00, room MF 323
Minorities in many countries have been found to have lower participation rates in self-employment. In this paper we introduce beliefs as a channel of persistent discrimination in self-employment despite perfect observability of individual ability. In the theoretical model individuals can become...
Charles Bellemare (Université de Laval)
Toulouse: TSE, March 13, 2012, 15:30–17:00, room Amphi S
We present results from a field experiment designed to measure the importance of managerial commitment to a contract within a firm that pays its workers piece rates. In the tree planting industry the piece rate paid to workers is determined as a function of the difficulty of the terrain to be...
