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Mark Aguiar (Princeton University)
TSE, 4 mai 2021, 14h00–15h30, salle Zoom
We provide sufficient conditions for the feasibility of a Pareto improving fiscal policy when the risk-free interest rate on government bonds is below the growth rate (r<g). We do so in the class of incomplete markets models pioneered by Bewley-Huggett-Ayigari, but we allow for an arbitrary...
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
Hennie Bester
William Cook (World Bank)
