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Céline Nauges, Sarah Ann Wheeler et Kelly Fielding
vol. 23, n° 11, 2021, p. 16481–16503
Claude Crampes et Thomas-Olivier Léautier
n° 1-2021 : « Law & Economics | Concurrences », 2021, p. 66–74
Les certificats négociables sont un bon outil de promotion des activités économiques quand celles-ci permettent d’améliorer le surplus social. Les certificats blancs, parce qu’ils encouragent les activités destinées à réduire la consommation d’énergie et parce que ces activités sont des ‘biens de...
Immanuel Bomze, Werner Schachinger et Jörgen W. Weibull
vol. 71, 2021, p. 305–315
Some finite and symmetric two-player games have no (pure or mixed) symmetric Nash equilibrium when played by partly morally motivated players. The reason is that the "right thing to do" may be not to randomize. We analyze this issue both under complete information between equally moral players and...
Brenda L. Volling, Richard Gonzalez, Liu Tan et Lauren Bader
2021sous la direction de Regina Kuersten-Hogan et James McHale, 2021
Jérôme Bolte, Tam Le, Edouard Pauwels et Antonio Silveti-Falls
sous la direction de M. Ranzato, A. Beygelzimer, Y. Dauphin, P.S. Liang et J. Wortman Vaughan, 2021, p. 13537–13549
In view of training increasingly complex learning architectures, we establish a nonsmooth implicit function theorem with an operational calculus. Our result applies to most practical problems (i.e., definable problems) provided that a nonsmooth form of the classical invertibility condition is...
Pablo Garcia Sanchez (Banque centrale du Luxembourg)
TSE, Toulouse, 2021
I present a New Keynesian model in which the central bank’s anti-inflationary preferences change over time. Agents do not observe the current monetary regime, but rationally learn about it using Bayes theorem. The model reproduces the contractionary effects of monetary policy uncertainty shocks...
Caterina Mendicino (European Central Bank)
We examine optimal capital requirements in a quantitative general equilibrium model with banks exposed to non-diversifiable borrower default risk. Contrary to standard models of bank default risk, our framework captures the limited upside but significant downside risk of loan portfolio returns (...
Jean Barthelemy (Banque de France)
This paper studies a model in which the price level is the outcome of dynamic strategic interactions between a fiscal authority, a monetary authority, and investors in government bonds and reserves. The“unpleasant monetarist arithmetic”whereby aggressive fiscal expansion forces the monetary...
Abdelaati Daouia, Jean-Pierre Florens et Léopold Simar
vol. 37, 2021, p. 346–387
The aim of this paper is to construct a robust nonparametric estimator for the production frontier. We study this problem under a regression model with one-sided errors where the regression function defines the achievable maximum output, for a given level of inputs-usage, and the regression error...
Marc Ivaldi et Jiekai Zhang
vol. 79, n° 102729, décembre 2021
The empirical analysis of media platforms economics has often neglected the multi-homing behaviour of advertisers. Assuming away the cross-substitutability and/or complementarity between the advertising slots of dierent platforms could damage the quality and the robustness of counterfactual...
