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Olivier Dessaint
TSE, 17 décembre 2018, 12h30–14h00, salle MF 323
There is a discrepancy between CAPM-implied and realized returns. Using the CAPM in capital budgeting { as recommended in finance textbooks { should thus have valuation effects. For instance, low beta projects should be valued more by CAPM-using managers than by the market. This paper empirically...
Leonardo Trasande (NYU Medical School)
Toulouse : IAST, 14 décembre 2018, 11h30–12h30, salle MF 323
Studies of populations exposed to the World Trade Center disaster have compellingly demonstrate substantial cancer, psychological and respiratory consequences. That said a substantial focus of this research has been on dust and stress as contributors, particularly the latter. Components of WTC dust...
Leonardo Trasande (New York University)
Toulouse : TSE, 13 décembre 2018, 14h00–15h30, salle MS 003
Kaitong Hu
Toulouse : TSE, 13 décembre 2018, 11h00–12h15, salle MS 003
In this presentation, we are going to consider the Principal-Agent problem in a linear partially observed system. The non-observable part of the system is assumed not observable by the Principal or the Agent. Firstly, we shall demonstrate that the solvability of the Agent’s optimization problem can...
Paul Niehaus (University of California, San Diego)
Toulouse : TSE, 13 décembre 2018, 11h00–12h30, salle MF 323
In developing countries, the state often has limited capacity to effectively target transfers. We examine the effects of enhanced authentication technology on the performance of India's largest targeted transfer scheme, the Public Distribution System. We conduct an experiment at scale with the...
Francesco Decarolis (Bucconi University)
TSE & IAST, 12 décembre 2018, 12h30–13h30, salle MS003
Magne Mogstad (University of Chicago)
Toulouse : TSE, 11 décembre 2018, 15h30–17h00, salle MS 001
The goal of this paper is to quantify the importance of imperfect competition in the U.S. labor market by estimating the size of rents earned by American employers and workers from ongoing employment relationships. To this end, we develop, identify and estimate an equilibrium model of the U.S....
Martin Cripps (University College London)
Toulouse : TSE, 11 décembre 2018, 11h00–12h30, salle MS 001
A characterisation is provided of the belief updating processes that are independent of how an individual chooses to divide up/partition the statistical information they use in their updating. These \divisible" updating processes are in general not Bayesian, but can be interpreted as a re-...
Pedro Teles (Banque du Portugal)
11 décembre 2018, Banque de France
How should fiscal and trade policy be set cooperatively when government expenditures must be financed with distorting taxes? We study this question in canonical dynamic general equilibrium models of international trade using both the Ramsey and Mirrlees approaches. We show that free trade and...
Luigi Iovino (Bocconi University - IGIER)
TSE, 10 décembre 2018, 17h00–18h30, salle MF 323
We study the effects of central bank balance sheet policies—namely, quantitative easing and foreign exchange interventions—in a model where people form expectations through the level-k thinking process, which is consistent with experimental evidence on the behavior of people in strategic...
