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Manufacture des Tabacs, S Building, Toulouse, France, 1–2 juin 2017
London : French Institute, 1 juin 2017
Antonio Russo
TSE & IAST, 31 mai 2017, 12h30–13h30, salle MS003
Jacques Crémer (Toulouse School of Economics)
Toulouse : TSE, 30 mai 2017, 11h00–12h30, salle MS001
Following d’Aspremont and Gérard-Varet (1979) the study of Bayesian incentive compatibility mechanisms has stressed the difficulties caused by the budget balance requirement, but relatively neglected the role of individual rationality constraints Using the techniques introduced by d’Aspremont,...
Toulouse, France : TSE, du 30 mai au 1 juin 2017, salle MF323- MF322
Antoinette Schoar (MIT Sloan School of Management)
Toulouse : TSE, 29 mai 2017, 10h30–12h00, salle MS001
We analyze the supply side of credit card markets, and the pricing and marketing strategies of issuers. First, card issuers target less-educated customers with more steeply back-loaded and hidden fees (e.g. higher late and over-limit fees). Second, issuers use rewards programs to screen for...
David Salant
TSE & IAST, 24 mai 2017, 12h30–13h30, salle MS003
Barak Orback (University of Arizona)
Toulouse : TSE, 23 mai 2017, 14h00–15h30, salle MF323
Christian Gouriéroux
Toulouse : TSE, 23 mai 2017, 14h00–15h30, salle MS001
The basic assumption of a structural VARMA model (SVARMA) is that it is driven by a white noise whose components are independent and can be interpreted as economic shocks, called “structural” shocks. When the errors are Gaussian, independence is equivalent to noncorrelation and these models have to...
The well-known problem of non-identifiability of structural VAR models disappears if the structural shocks are independent and if at most one of them is Gaussian. In that case, the relevant estimation technique is the Independent Component Analysis (ICA). Since the introduction of ICA by Comon (...
