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Olivier Loisel
4 mai 2021, 11h30–12h30, BDF, Paris, salle Visio
Since the end of 2008, the Federal Reserve has been communicating its monetary policy in terms of two instruments under its direct control: the interest rate on bank reserves (IOR rate), and the size of its balance sheet. We introduce banks and bank reserves into the basic New Keynesian model to...
Elise Gourier (ESSEC Business School)
Toulouse : TSE, 3 mai 2021, 12h30–13h30, salle Zoom
Ten trillion dollars are allocated to illiquid vehicles for which investors commit ex-ante to transferring capital on demand – most of which are Private Equity (PE) funds. We design a dynamic portfolio allocation model in which investors commit capital to PE. Investors significantly under-commit...
François Bareille (INRAE)
Toulouse : TSE, 3 mai 2021, 11h00–12h15, Zoom
The costs of climate change on agriculture depends critically on farmers' adaptation. In this paper, we investigate how farmers adapt their input mix in response to weather fluctuations during the growing season using individual panel data from Meuse (France) between 2006 and 2012. Specifically, we...
3–4 mai 2021
John J. Horton (MIT Sloan & NBER)
20 avril 2021, 14h00–15h00, Zoom Meeting
A core issue in designed, computer-mediated markets is the effect that platform pricing choices have on the marketplace equilibrium. We explore this issue in the context of ride-sharing. Following Uber-initiated fare increases, drivers make more money per trip and, initially, more per hour-worked....
Daniel Buncic
20 avril 2021, 11h30–12h30, BDF Paris, salle Online
This paper corrects the implementation of Median Unbiased Estimation (MUE) in Stage 2 of Holston, Laubach and Williams’ (2017) framework to estimate the natural rate of interest and provides corresponding corrected estimates. The correction is quantitatively important. It yields substantially...
Maha Bahou (JOPACC)
16 avril 2021, 17h00–18h30
William Cook (World Bank)
Hennie Bester
Kevin Spiritus (Erasmus School of Economics, Netherlands)
TSE, 16 avril 2021, 11h00–12h30, salle Zoom
We study the optimal taxation of risky and non-risky capital income when the government imposes an optimal nonlinear earnings tax on heterogeneous households. Households can hold three assets: one risk-free, one risky but diversifiable, and one a private investment with idiosyncratic risk whose...
