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Jean François Houde (University of Wisconsin - Madison)
Toulouse : TSE, 3 avril 2012, 15h30–17h00, salle Amphi S
This paper measures market power in a decentralized market where contracts are determined through a search and negotiation process. The mortgage industry has many institutional features which suggest it should be competitive: homogeneous contracts, negotiable rates, and, for a given consumer,...
Christophe Muller (Université Aix Marseille)
Toulouse : TSE, 3 avril 2012, 14h00–15h30, salle MF 323
In this paper, we integrate the structural approach and the fitted-value approach of the literature on quantile regression with endogeneity problems, including for the non-constant effect case. First, we derive the asymptotic distribution and the variance-covariance matrix of two-stage quantile...
Philippe Aghion (Harvard University)
Toulouse : TSE, 3 avril 2012, 11h00–12h30, salle Amphi S
A remarkable result, due to Moore & Repullo (1988) is that any social choice function can be implemented as the unique equilibrium of a suitably constructed dynamic game (subgame perfect implementation). Yet such mechanisms are never observed in practice, which raises the question: why not? In...
Per Krusell (University of Stockhom-IIE)
Toulouse : TSE, 2 avril 2012, 17h00–18h30, salle Amphi S
We build a general equilibrium model that features uninsurable idiosyncratic shocks, search frictions and an operative labor supply choice along the extensive margin. The model is calibrated to match the average levels of gross flows across the three labor market states: employment, unemployment,...
Irme Ferto (University of Corvinus)
Toulouse : TSE, 2 avril 2012, 11h00–12h30, salle MF 323
The paper analyses small and medium firms’ perceptions on contract enforcement along food chain in central region of Hungary using survey data. We find that 59 per cent of respondents believe that they could use court to enforce contracts with their partner. However we do not find significant...
Claudia Ravanelli (Ecole Polytechnique fédérale de Lausanne)
Toulouse : TSE, 30 mars 2012, 13h45–15h00, salle MF 323
We prove the existence of comonotone Pareto optimal allocations within sets of acceptable allocations when decision makers have probabilistic sophisticated variational preferences on random endowments in L1.
Carmen Beviá (Universitat Autònoma de Barcelona)
Toulouse : TSE, 30 mars 2012, 11h00–12h30, salle MS 003
In this paper we present a model of oligopoly and financial constraints. We study allocations which are bankruptcy-free (BF) in the sense that no firrm can drive another firrm to bankruptcy without becoming bankrupt. We show how such allocations can be sustained as an equilibrium of a dynamic game...
Emmanuel Flachaire (GREQAM)
Toulouse : TSE, 27 mars 2012, 15h30–17h00, salle Amphi S
The standard theory of inequality measurement assumes that the equalisand is a cardinal quantity with known cardinalisation. However, one may need to make inequality comparisons where either the cardinalisation is unknown or the underlying data are categorical. We propose a natural way of...
Frederico Bandi (University of John Hopkins)
Toulouse : TSE, 27 mars 2012, 14h00–15h30, salle Amphi S
A sizeable proportion of large, discontinuous, changes in asset prices are found to be associated with contemporaneous large, discontinuous, changes in volatility, i.e., co-jumps. When occurring jointly, the price jumps tend to be negative while the volatility jumps tend to be positive. Unusually...
Gilat Levy (London School of Economics)
Toulouse : TSE, 27 mars 2012, 11h00–12h30, salle Amphi S
We develop a model of social signalling of cooperative behaviour in religious organisations. The model embeds a ritual-based religious organization in which signalling arises through the use of costly rituals, and a discipline-based religious organization in which such signalling occurs through the...
