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Stéphanie Schmitt-Grohé (Columbia University)
TSE, 28 septembre 2021, 11h00–12h15, Online
This paper addresses the question of how central banks should conduct bank reserve remuneration policy in open economies. The analytical framework is a model with a banking channel and a collateral constraint that limits household debt by a fraction of income. The paper finds that under the optimal...
Darrell Duffie (Standford University)
27 septembre 2021, 17h00–18h00, BDF Paris
The Federal Reserve's “balance-sheet normalization,” which reduced aggregate reserves between 2017 and September 2019, increased repo rate distortions, the severity of rate spikes, and intraday payment timing stresses, culminating with a significant disruption in Treasury repo markets in mid-...
Niklas Möhring (Centre d'Etudes Biologiques de Chizé - CNRS)
Toulouse : TSE, 27 septembre 2021, 11h00–12h15, Online, salle Auditorium 4
The sustainable intensification of agriculture requires solutions for a large-scale reduction of pesticide use while sustaining agricultural yields. New pesticide-free production standards, which align the strengths of several food value chain actors, could be a cornerstone of this transformation....
Alexandra Carpentier (University Magdeburg )
Toulouse : TSE, 23 septembre 2021, 11h00–12h15, salle Auditorium 5
This talk will be on the topic of sequential learning, and on some specific instances of the stochastic bandit problem. In the first part of the talk, I will give an introduction to the stochastic bandit problem, and present some core ideas and algorithms. In the second part of the talk, I will...
Jacopo Bregolin (Toulouse School of Economics)
21 septembre 2021, 14h00–15h00, Zoom Meeting
Many online platforms rely on user-generated content and need to incentivize free effort. With data from Stack Exchange, I investigate whether users provide more and better quality contributions when endowed with more autonomy and authority over actions. Using a dynamic discrete choice model, I...
Callum Jones (Federal Reserve Board)
21 septembre 2021, 14h00–15h00, BDF Paris
The empirical literature on the stability of the Phillips curve has largely ignored the bias that endogenous monetary policy imparts on estimated Phillips curve coefficients. We argue that this omission has important implications. When policy is endogenous, estimation using aggregate data can be...
Saki Bigio
Toulouse, 21 septembre 2021, 14h00–15h30, salle Zoom
We develop a theory of exchange rate fluctuations arising from financial institutions’ demand for liquid dollar assets. Financial flows are unpredictable andmay leave banks “scrambling for dollars.” As a result of settlement frictions in interbank markets, a precautionary demand for dollar reserves...
Roland Strausz (Humboldt University, Berlin)
Toulouse : TSE, 21 septembre 2021, 11h00–12h30, salle Auditorium 4
Michael Keane (University of New South Wales Australian School of Business)
TSE, 21 septembre 2021, 09h30–11h00, Online
We study the contribution of health shocks to earnings inequality and uncertainty in labor market outcomes. We calibrate a life-cycle model of labor supply and savings that incorporates health and health shocks. Our model features endogenous wage formation via human capital accumulation, employer...
Andras Niedemayer (Cergy University)
TSE, 20 septembre 2021, 14h00–15h30, salle A4
This paper analyzes panic purchases of goods after demand changes due to an unexpected event such as a pandemic. Our two-period model incorporates capacity constraints by sellers and search/shopping costs by consumers. Even if sellers have enough capacity to satisfy total demand, there may be...
