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Robin Ng (Mannheim University)
TSE, 2 décembre 2024, 14h15–15h30, salle Auditorium 4
Consumers rely on recommendations of platforms when purchasing products. I examine a platform's decision to provide product recommendations which are informative of value-for-money. More informative recommendations have two effects: (i) a screening effect, where lower quality firms exit the...
Harald Hau (Université de Genève)
Toulouse : TSE, 2 décembre 2024, 11h00–12h30, salle Auditorium 3
Using comprehensive new contract level data (EMIR) for the period 2019-2023, we explore how the FX derivative trading by European funds compares to a feasible theoretical benchmark of optimal hedging. We find that hedging behavior by all fund types is often partial, unitary (i.e., with a single...
29 novembre 2024, 09h00–17h00, salle Building TSE
Alexandros Gelastopoulos (Toulouse School of Economics)
Toulouse : TSE, 28 novembre 2024, 11h00–12h30, salle Auditorium 4
Whether it is about choosing a party to vote for, deciding whether to adopt an innovation, selecting music to listen to, or which social media application to use, people tend to select options that many other people have selected before them. This creates a feedback loop in which popular options...
Gudmundur Stefan Gudmundsson (Aarhus University)
TSE, 26 novembre 2024, 15h30–16h50, salle Auditorium 4
I propose an algorithm that partitions the series of a large vector autoregression (VAR) into groups based on the spillover structure. The novelty of the procedure is that it is capable of simultaneously detecting both the giver and receiver group structures. I study the properties of the algorithm...
Marta Cota (Universidade Nova de Lisboa)
TSE, 26 novembre 2024, 14h00–15h30, salle Auditorium 4
This paper examines how financial literacy shapes households' mortgage decisions through a structural model of mortgage search. Using a unique U.S. dataset that integrates detailed mortgage information with objective measures of financial literacy, we find that households with lower financial...
Gernot Müller (University of Tübingen)
26 novembre 2024, 11h30–12h30, BDF, Paris, salle Salle 5GH et en ligne
The jointly optimal monetary and fiscal policy mix in a multi-sector New Keynesian model with sectoral government spending and productivity shocks entails a separation of roles: Sectoral government spending optimally adjusts to sectoral output gaps and inflation rates—a policy supported by evidence...
Karine Nyborg
Toulouse : IAST, 26 novembre 2024, 11h30–12h30, salle Auditorium 4 (First floor - TSE Building)
We demonstrate how the preference to be highly regarded by others as well as oneself can drive strong polarization and segregation. Being highly regarded by someone requires conforming to that person’s normative views. We assume that if normative views move towards one extreme, image costs increase...
Nicolas Vieille (HEC, Paris)
Toulouse : TSE, 26 novembre 2024, 11h00–12h30, salle Auditorium 3
We consider social learning in a changing world. With changing states, societies can be responsive only if agents regularly act upon fresh information, which significantly limits the value of observational learning. When the state is close to persistent, a consensus whereby most agents choose the...
William Rafey (University California - Los Angeles)
Toulouse : TSE, 25 novembre 2024, 14h15–15h30, salle Auditorium 4
We introduce an empirical framework for valuing markets in environmental offsets. Using newly-collected data on wetland conservation and offsets, we apply this framework to evaluate a set of decentralized markets in Florida, where land developers purchase offsets from long-lived producers who...
