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Claudia Noack (University of Bonn, Germany)
TSE, March 19, 2024, 15:30–16:50, room Auditorium 4
Empirical regression discontinuity (RD) studies often use covariates to increase the precision of their estimates. In this paper, we propose a novel class of estimators that use such covariate information more efficiently than the linear adjustment estimators that are currently used widely in...
Kevin Munger (Penn State University)
Toulouse, March 19, 2024, 14:00–15:15, Auditorium 3 JJL, room Auditorium 3 JJL
We demonstrate that fabricated videos of public officials synthesized by deep learning(“deepfakes”) are credible to a large portion of the American public – up to 50% of a representative sample of 5,750 subjects – however no more than equivalent misinformation in extant modalities like text...
Ciaran Rogers (HEC, Paris)
TSE, March 19, 2024, 14:00–15:30, room Auditorium 4
This paper studies the role of local banking systems in the propagation of ECB Quantitative Easing (QE) programs. I firstly document that local deposit markets are fragmented across country lines, but the assets held by banks backing the deposits are in more integrated markets. I then consider a...
Gino Cattani (NYU)
Toulouse: IAST, March 19, 2024, 11:30–12:30, room Auditorium 4 (First floor - TSE Building)
By integrating Herbert Simon’s theory of artifact and Brian Arthur’s concept of functionality in technology, we propose a novel conceptual framework for analyzing the process by which shadow options embedded in a firm’s existing technologies emerge and are converted into real options. We apply this...
Mengxi Zhang (University of Bonn, Germany)
Toulouse: TSE, March 19, 2024, 11:00–12:30, room Auditorium 3
We use the tools of mechanism design, combined with the theory of risk measures, to analyze how a cash constrained owner of an asset with known stochastic returns raises capital from a population of investors that differ in their risk aversion and budget constraints. The issuer partitions the asset...
Fabian Winkler (Board of the Fed)
March 19, 2024, BDF, Paris, room 4GH & Online
We propose a novel explanation for persistent movements in the natural rate of interest (r-star) based on two-sided learning between the central bank and the private sector. We analyze a New-Keynesian model where both learn about r-star from each other. When both sides fail to recognise that their...
Rosa Ferrer (University of Pompeu Fabra, Barcelona)
TSE, March 18, 2024, 14:15–15:30, room Auditorium 4
This paper studies viewers' distaste for ads in a two sided-market. Using data from free-to-air TV permits us to observe the viewers' consideration set of alternatives and their characteristics. We first use market level data to estimate both viewers' demand for content and advertisers' demand for...
Zachary Garfield (Mohammed VI Polytechnic University)
Toulouse, March 18, 2024, 14:00–15:15, Auditorium 3 JJL, room Auditorium 3 JJL
The ongoing expansion of interdisciplinary research has been coined a "golden age" in science, yet the replication crisis and difficulties in applying scientific insights have contributed to declining public trust in science. There has been a noticeable lack of focus on theory in advancing...
Charlotte Plinke (Potsdam Institute for Climate Impact Research)
Toulouse: TSE, March 18, 2024, 11:00–12:15, room Auditorium 4
Food consumption patterns generate significant environmental externalities that remain insufficiently addressed by public policies. This paper explores the global environmental footprints induced by food consumption in the European Union (EU27) and assesses the potential of tax policies for...
Sheridan Titman
Toulouse, March 15, 2024, 14:00–15:15, room Auditorium 4
We study the fluctuating performance of characteristic-sorted portfolios through the lens of a statistical model that allows for persistent variation in expected returns. The model provides a simple formula for adjusting the standard errors of unconditional (or long-run) expected return estimates;...
