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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...
Alfred Galichon (Ecole polytechnique)
Toulouse: TSE, October 13, 2009, 11:00–12:30, room MF 323
We investigate in this paper the theory and econometrics of optimal matchings with competing criteria. The surplus from a marriage match, for instance, may depend both on the incomes and on the educations of the partners, as well as on characteristics that the analyst does not observe. Even if the...
Christoph Rothe (Toulouse School of Economics-GREMAQ)
Toulouse: TSE, October 13, 00:00 to October 13, 2009, 00:00, room MF 323
In this paper, we propose a method to evaluate the effect of a counterfactual change in the marginal distribution of a single covariate on the unconditional distribution of an outcome variable of interest. We show that such effects are point identified for continuously distributed regressors under...
Philippe Bacchetta (Université de Lausanne)
Toulouse: TSE, October 12, 2009, 17:00–18:00, room MF 323
Nicolae Garleanu
TSE, October 12, 2009, 12:30–14:00, room MF 323
In a model with heterogeneous-risk-aversion agents facing margin constraints, we show how securities’ required returns are characterized both by their betas and their margins. Negative shocks to fundamentals make margin constraints bind, lowering risk-free rates and raising Sharpe ratios of risky...
Philippe Mahenc
Toulouse: TSE, October 12, 2009, 11:00–12:30, room MF 323
Certification is meant to solve the adverse selection problem raised by unsubstantiated claims from firms about environmental safety. Things are getting complicated by the suspicion of uninformed consumers that the certification agency might manipulate their beliefs. To make her certification...
Florin Bilbiie
October 9, 2009
Eske Stig Hansen (University of Aarhus)
Toulouse: TSE, October 8, 2009, 12:45–14:00, room MF 323
"Strategic models of oligopolistic behavior are highly appreciated by both academia and public decision makers for describing a wide number of industries. In particular, this holds for modern wholesale electricity markets, which are often highly concentrated, and consequently several competing...
Taoufik Bouezmarni (McGill University)
Toulouse: TSE, October 6, 2009, 15:30–16:30, room MF 323
The concept of causality is naturally defined in terms of conditional distribution, however almost all the empirical works in this literature focus on the causality in the mean. This paper aims to propose a different nonparametric statistic to test the conditional independence and Granger non-...
François Le Grand (Emlyon Business School)
Toulouse: TSE, October 6, 2009, 11:00–12:30, room MF 323
We consider a formal approach to comparative risk aversion and apply it to intertemporla choice models. This makes it possible to investigate whether standard classes of utility functions, such as those inspired from Khilstrom and Mirman (1974), Selden (1978), Epstein and Zin (1989) or Quiggin (...
