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Luis Rayo (London School of Economics)
TSE, 16 septembre 2013, 14h00–15h30, salle MF 323
An expert must train a novice. The novice initially has no cash, so he can only pay the expert with the accumulated surplus from his production. At any time, the novice can leave the relationship with his acquired knowledge and produce on his own. The sole reason he does not is the prospect of...
Erzo G.J. Luttmer (University of Minnesota and Federal Reserve Bank of Minneapolis)
Toulouse : TSE, 16 septembre 2013, 12h30–14h00, salle MF323
This paper adds imitation by incumbent firms, and not just by new entrants, to the model of selection and growth developed in Luttmer [2007]. Noisy firm-level innovation and imitation give rise to a long-run growth rate that exceeds the average rate at which individual firms innovate. It can be...
Glen Weyl (University of Chicago)
Toulouse : TSE, 13 septembre 2013, 10h15–11h30, salle MS001
Toulouse : TSE, 13 septembre 2013, 10h00–11h15, salle MS001
A group of individuals with access to transfers seeks to make a binary collective decision. All known mechanisms they might use are either are often inefficient (e.g. voting), subject to severe collusion problems (e.g. the Vickrey-Clarke-Groves mechanism) or require the planner being informed about...
Vasia Panousi (Board of Governors of the Federal Reserve System-Washington)
Toulouse : TSE, 9 septembre 2013, 17h00–18h30, salle MS001
We examine the optimal taxation of capital in a general-equilibrium heterogeneousagent economy with uninsurable idiosyncratic investment or capital-income risk. Our framework combines elements from the Ramsey and the Mirrlees traditions, as we consider a linear tax but also introduce lump-sum...
Jean-Charles Rochet (UZH, SFI, and TSE)
TSE, 9 septembre 2013, 12h30–14h00, salle MF 323
We analyze the determinants of government debt under the twin assumptions that governments have limited horizons and default only when government income falls short of debt service requirements. We derive a government’s maximum sustainable debt ratio, that is, the debt ratio chosen by a myopic...
Lisbonne, Espagne, 7 juillet 2013
Christian Nguenang (Toulouse School of Economics)
TSE, 28 juin 2013, 12h30–13h30, salle MF 429
Toulouse, France, 28 juin 2013
Thomas Christiano (University of Arizona)
Toulouse : IAST, 27 juin 2013, 15h30–16h30, salle MF323
