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Hector Chade (Arizona State University)
Toulouse : TSE, 24 mai 2011, 11h00–12h30, salle Amphi S
This paper analyzes a principal-agent problem with moral hazard where a principal searches for an opportunity of uncertain return, and hires an agent to evaluate the options available. The agent's effort affects the informativeness of a signal about an option's return. Based on the information...
Valérie Ramey (University of California - San Diego)
Toulouse : TSE, 23 mai 2011, 17h00–18h30, salle MF 323
Countercyclical markups constitute the key transmission mechanism for monetary and other “demand” shocks in textbook New Keynesian models. This paper tests the foundation of those models by studying the cyclical properties of the markup of price over marginal cost. The first part of the paper...
Christophe Chamley (Paris School of Economics)
IDEI, 23 mai 2011, 12h30–14h00, salle MF 323
As recent events attest, modern economies may have trouble enforcing Say's Law. An economy with decentralized markets and trades between goods and a liquid asset, money, has two equilibria. In full-employment, output is determined by supply. But a higher demand for liquidity is self-fulfilling and...
Raouf Boucekkine (Université Catholique de Louvain)
Toulouse : TSE, 23 mai 2011, 11h00–12h30
Eddie Dekel (Northwestern University)
Toulouse : TSE, 19 mai 2011, 15h30–17h00, salle MF 323
We study the random Strotz model, a version of the Strotz (1955) model with uncertainty about the nature of the temptation that will strike. We show that the random Strotz representation is unique and characterize a comparative notion of \more temptation averse." Also, we demonstrate an unexpected...
Winslow Strong (University of California - Santa Barbara)
Toulouse : TSE, 19 mai 2011, 12h30–14h00, salle MC 205
Toulouse, France, 19–21 mai 2011
Shakeeb Khan (University of Duke)
Toulouse : TSE, 17 mai 2011, 15h30–17h00, salle Amphi S
Mathieu Rosenbaum (Ecole Polytechnique - Palaiseau)
Toulouse : TSE, 17 mai 2011, 14h00–15h30, salle MF 323
Il est communément admis en finance que le comportement d'un actif à une date donnée peut avoir une grande influence sur celui d'un autre à une date ultérieure. On parle alors d'actif "leader" et d'actif "suiveur" ("lagger" en anglais). Dans cet exposé, on proposera un modèle simple permettant de...
Ellen McGrattan (Federal Reserve Bank of Minneapolis)
Toulouse : TSE, 16 mai 2011, 17h00–18h30, salle MF 323
Previous studies of the U.S. Great Depression find that increased taxation contributed little to either the dramatic downturn or the slow recovery. These studies include only one type of capital taxation: a business profits tax. The contribution is much greater when the analysis includes other...
