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Dimitris Papanikolaou (University of Northwestern)
TSE, 4 novembre 2013, 12h30–14h00, salle MF 323
Adverse selection is commonly used to explain inefficiencies in specific markets. In this paper,we incorporate an informational asymmetry into a decentralized dynamic economy and study its implications for aggregate and sector level dynamics. We show that it leads to slow moving capital, lagged...
Beat Hintermann (University of Basel)
Toulouse : TSE, 4 novembre 2013, 11h00–12h30, salle MS 001
We develop a theory of social planning with a constraint on economic coercion, which we define as the difference between consumers’ actual utility, and the "counterfactual" utility they expect to obtain if they were able to set policy themselves. The social planner limits economic coercion, either...
Alexandre Debs (University of Yale)
Toulouse : TSE, 24 octobre 2013, 11h00–12h30, salle MF 323
What are the causes of hegemonic wars among interdependent great powers? We argue that an economically dependent challenger faces a hold-up problem, when deciding whether to engage a hegemon peacefully. The hegemon cannot commit to offer generous terms of peace, given its domination of the...
Dan Cao (University of Georgetown)
Toulouse : TSE, 21 octobre 2013, 17h00–18h30, salle MS 001
We develop a model of investment with financial constraints and use it to investigate the relation between investment and Tobin’s q . A firm is financed partly by insiders, who control its assets, and partly by outside investors. When their wealth is scarce, insiders earn a rate of return higher...
Francine Lafontaine (University of Michigan)
TSE, 21 octobre 2013, 14h00–15h30, salle MF 323
Financial constraints are an important impediment for the growth of small businesses. We study theoretically and empirically how collateral availability for a particular type of small entrepreneur, namely potential franchisees, affects the moral hazard problem of franchisees exerting effort and...
Mathieu Rosenbaum (Université Pierre et Marie Curie)
Toulouse : TSE, 18 octobre 2013, 14h00–15h15, salle MF 323
A l'échelle ultra haute fréquence, la notion de prix d'un actif financier est très ambiguë. En effet, beaucoup de prix différents peuvent être définis: meilleur prix à l'achat, meilleur prix à la vent, prix moyen, etc. Ainsi, en pratique, les participants de marché font face au problème du choix de...
Manfred Milinski (Max Planck Institute)
Toulouse : IAST, 18 octobre 2013, 11h30–12h30, salle MS001
Florian Scheuer (University of Stanford)
Toulouse : TSE, 18 octobre 2013, 10h00–11h15, salle MS 001
We develop a unifying framework for optimal income taxation in multi-sector economies with general patterns of externalities. Agents in this model are characterized by an N-dimensional skill vector corresponding to intrinsic abilities in N potentially externality-causing activities. The private...
Redmond, Washington, 18–19 octobre 2013
Erik Voeten (Georgetown University)
Toulouse : IAST, 17 octobre 2013, 15h30–16h30, salle MF323
Oil-exporting states occupy a paradoxical position in the international system. Economically, they tend to be highly globalized, meaning dependent on international trade, finance, and labor. They are also the source of the world’s single most valuable commodity, and hence highly influential. Yet...
