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Milo Bianchi (TSE, University of Toulouse Capitole.)
TSE, November 16, 2023, 10:00–10:45, Auditorium 3, room Auditorium 3
While pro-social attitudes have been shown to affect investment decisions, much less is known on what shapes pro-social attitudes across investors and over time. We investigate how life-time experiences affect investors’ demand for ESG stocks. We exploit account-level data from the Shanghai Stock...
Pierre Régibeau (European Commission, DG Competition)
Toulouse: TSE, November 10, 2023, 15:30–17:30, room Auditorium A4
Larissa Schaefer (Frankfurt School of Finance and Management)
Toulouse: TSE, November 10, 2023, 14:00–15:15, room Auditorium 4
Do negative housing shocks lead to persistent changes in household attitudes toward housing and homeownership? We use the residential destruction of Germany during World War II (WWII) as a quasi-experiment and exploit the reasonably exogenous region-by-cohort variation in destruction exposure. We...
Cécile Sarabian
Toulouse: IAST, November 10, 2023, 12:45–13:45, room Auditorium 4 (First Floor - TSE Building)
Wildlife trade is a multibillion-dollar industry. It can be legal or illegal and is in part fueled by the demand for exotic pets. Japan has a long history of importing wildlife products and is an important consumer of exotic pets. Our previous study recorded 137 active Exotic Animal Cafés (EACs;...
Johannes Beutel (Bundesbank)
November 10, 2023, 11:30–12:30, BDF, Paris, room 4GH & Online
We causally test alternative theories of expectation formation and asset pricing. Using a randomized information experiment we show overreaction is a key feature of individuals’ belief formation. Individuals excessively extrapolate past returns and earnings growth into future returns. The average...
David B. Ridley (Duke University)
TSE, November 10, 2023, 11:00–12:30, room Auditorium 4
The US FDA created the accelerated drug approval program in 1992 to give HIV-AIDS patients earlier access to potentially life-saving, though unproven, drugs. Regulators in Europe, Japan, and elsewhere created similar conditional approval programs. They can approve a drug on weak evidence and ask...
Lucas Conwell (University College, London)
November 9, 2023, 11:00–12:30, room Auditorium 4
Workers in developing countries waste significant time commuting, and gaps in public transit constrain access to productive jobs. In many cities, privately-operated minibuses provide 50–100% of urban transit, at the cost of long wait times and poor personal safety for riders. Should developing-...
Max Fathi (Université de Paris)
Toulouse: TSE, November 9, 2023, 11:00–12:15, room Auditorium 3 - JJ Laffont
Otto and Villani's HWI inequality is an inequality linking entropy, Fisher information and Wasserstein distances on the space of probability measures. It was introduced as a consequence of the convexity of entropy on the space of probability measures, and has been studied from different points of...
Karim Abadir (Imperial College, London)
November 8, 2023, 11:30–12:30, BDF, Paris, room 6 GH & Online
Macroeconomic and aggregate financial series were shown empirically to share an unconventional form of cyclical and persistent dynamics, whose functional form was obtained from the solution of general-equilibrium models with heterogeneous firms. The econometric modeling of equations that link such...
Ulrich Mueller (Princeton University)
TSE, November 7, 2023, 15:30–16:50, room Auditorium 4
This paper proposes a model for, and investigates the consequences of, strong spatial dependence in economic variables. Our approach and findings echo those of the corresponding “unit root” time series literature: We suggest a model for spatial I(1) processes, and establish a functional central...
