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Xavier Lambin (ESSEC Business School)
TSE & IAST, 19 octobre 2022, 12h30–13h30, Auditorium A4 - level 1
The best-performing and most popular algorithms are often the least explainable. In parallel, there is growing concern and evidence that sophisticated algorithms may engage, autonomously, in prot-maximizing but welfare-damaging strategies. Drawing on the literature on self-regulation and following...
Emil Verner (MIT Sloan)
Toulouse : TSE, 18 octobre 2022, 14h00–15h30, salle Auditorium 4
Unexpected inflation redistributes wealth toward equity owners of highly levered firms. In the presence of financing frictions, such redistribution can impact the allocation of real activity. We use the German inflation of 1919-1923 as a laboratory to study how a large and unexpected inflation is...
Shanjun Li (Johnson Graduate School of Management - Cornell University)
TSE, 17 octobre 2022, 14h15–15h30, salle Auditorium 4
Attribute-based subsidies are commonly used to promote the diffusion of energy-efficient products in industries with significant market power. We first develop a theoretical framework for optimal policy design that incorporates endogenous product attributes, (environmental) externalities, and...
Arne Risa Hole (Universtat Jaume I)
Toulouse : TSE, 17 octobre 2022, 11h00–12h15, salle Auditorium 4
This study examines how individuals’ preferences for transport safety depends on the mode of transportation using discrete choice experiments. Whereas willingness to pay (WTP) to reduce road-traffic risk has been examined in a relatively large number of studies, WTP estimates to reduce the risk in...
Mitsuru Igami (Yale University)
Toulouse : TSE, 14 octobre 2022, 14h00–15h30, Auditorium 3
Collusion is difficult in innovative industries because the prospect of investments to achieve superior competitiveness weakens the incentive to cooperate with competitors. Nevertheless, high-profile cartel cases emerged in the liquid crystal display (LCD) panel industry in 2001–2006. We propose a...
Luigi Siciliani (University of York, UK)
TSE, 14 octobre 2022, 11h00–12h30, salle Auditorium 4
We study the effects of a financial incentive scheme that encourages the shift from a high-cost to a low-cost setting. We examine the effect of the Best Practice Tariff (BPT) for outpatient activity that rewards providers for treating patients in an office-based outpatient setting, rather than a...
Björn Richter (University of Pompeu Fabra, Barcelona)
Toulouse : TSE, 14 octobre 2022, 11h00–12h30, salle Auditorium 3
We employ data from financial accounts for 33 countries to trace the flow of financial funds through the economy, and to identify the ultimate counterparties financing credit expansions. Removing the veil of financial intermediation shows that credit is increasingly financed by foreign...
François Gourio (Federal Reserve Bank of Chicago)
14 octobre 2022
We develop a macro-finance asset pricing model with downward nominal rigidities and show that it helps explain both secular and cyclical movements in term premia. The asymmetry in nominal rigidities implies that when inflation is high, nominal rigidities are less relevant, leading to larger output...
Felipe Gonzalez (Queen Mary, University of London)
13 octobre 2022, 11h00–12h30, salle Auditorium 4
Governments struggle to broaden their support in times of animosity and polarization, sometimes putting democracy at risk. Can governments rely on public policies to increase their political support during these turbulent times? We evaluate the impact of a large public health policy on political...
Evgenii Chzhen (Université Paris-Saclay)
Toulouse : TSE, 13 octobre 2022, 11h00–12h15, salle Auditorium 3
This work studies online zero-order optimization of convex and Lipschitz functions. We present a novel gradient estimator based on two function evaluations and randomization on the `1-sphere. Considering different geometries of feasible sets and Lipschitz assumptions we analyse online dual...
