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Toulouse, France, October 22–23, 2009
In economies where resources are uncertain, risk sharing mechanisms enable to reallocate goods for consumption in a more efficient way than resources are. Nevertheless, efficiency requires complete markets. Since the seminal paper of Townsend (1994) who rejected the hypothesis of complete markets,...
Lutz Dümbgen (University of Bern)
Toulouse: TSE, October 20, 2009, 15:30–16:30, room MF 323
Log-concave distributions are an interesting and well-behaved nonparametric model. In the first part of the talk we present some fundamental properties of this model and discuss maximum-likelihood estimation based on i.i.d. data. In the second part we discuss potential applications to regression...
Markus Mobius (Harvard University)
Toulouse: TSE, October 20, 2009, 11:00–12:30, room MF 323
This paper uses a microfinance field experiment in two Lima shantytowns to measure the relative importance of social networks and prices for borrowing. Our design randomizes the interest rate on loans provided by a microfi- nance agency, as a function of the social distance between the borrower and...
Toulouse, France, October 20–21, 2009
Ernesto Pasten
October 20, 2009
Tobias Broer (IIES, Stockholm University)
Toulouse: TSE, October 19, 2009, 17:00–18:30, room MF 323
This paper shows how the rise in individual income risk in the US since the 1980s might help explain the fall in its foreign asset position. The key to this result is endogenous financial deepening in an open economy with participation-constrained domestic financial markets. More volatile income...
Renaud Bourles
IDEI, October 19, 2009, 12:30–14:00, room MF 323
The aim of this paper is to analyze the need for cash and default regulation in nsurance. Proponents of deregulation argue that these requirements are useless as insurers would hold enough cash as soon as policyholders are fully informed about their default probability. Adding to the purpose the...
Kyösti Pietola (Agrifood Research Finland, MTT)
Toulouse: TSE, October 19, 2009, 11:00–12:30, room MF 323
Capital gains taxes are important sources of government income in particular in high tax Scandinavian countries. Theses taxes, nevertheless, likely distort the market and resource allocations through so called “lock-in” effect by discouraging trade transactions that would trigger the tax payments....
Geza Sapi (German Institute for Economic Research (DIW Berlin) and Technical University of Berlin)
Toulouse: TSE, October 15, 2009, 12:45–14:00, room MF 323
Recent advances in information technologies allow firms to collect vast amounts of detailed personal information on customers and to engage in potentially profitable trade of their information assets. We are interested in the incentives of competing firms to share information if firms can...
Manuel Amador (Stanford University)
Toulouse: TSE, October 14, 2009, 12:30–14:00, room MF 323
In this paper, we propose a tractable variant of the open economy neoclassical growth model that emphasizes political economy and contracting frictions. The political economy frictions involve disagreement and political turnover, while the contracting friction is a lack of commitment regarding...
