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Roger Koenker (University of Illinois)
Toulouse : TSE, 5 avril 2011, 15h30–17h00, salle MF 323
Additive models for conditional quantile functions provide an attractive framework for non-parametric regression applications focused on features of the response beyond its central tendency. Total variation roughness penalities can be used to control the smoothness of the additive components much...
Hervé Cardot (Université de Bourgogne)
Toulouse : TSE, 5 avril 2011, 14h00–15h30, salle MF 323
La médiane géométrique est une extension naturelle de la médiane pour des vecteurs aléatoires à valeurs dans des espaces vectoriels normés. Il s'agit du point de l'espace dont la distance moyenne aux points de la distribution est la plus petite. La médiane géometrique est, contrairement à la...
Georg Noeldeke (University of Basel)
Toulouse : TSE, 5 avril 2011, 11h00–12h30, salle Amphi S
We embed the classical marriage problem in a search model with bilateral meetings and investigate the limit behavior of steady state equilibria as search frictions become negligible. All stable matchings are limit outcomes, but unless there is a unique stable matching there are also unstable,...
Hélène Rey (London Business School)
Toulouse : TSE, 4 avril 2011, 17h00–18h30, salle MS 003
We update and improve the Gourinchas Rey (2007) dataset of the historical evolution of US external assets and liabilities at market value since 1952 to include the recent crisis period. We find strong evidence of a sizeable excess return of gross assets over gross liabilities. The center country of...
Thomas-Olivier Léautier (TSE, IAE, CRM, UT1-Capitole)
Toulouse : TSE, 4 avril 2011, 12h30–14h00, salle MF 323
This paper develops a dynamic model to determine a firm's optimal risk management strategy when it faces uncertainty about its future profitability and investment opportunities, and convex cost of capital. We find that: (1) full hedging is optimal for a wide range of leverage ratios, but that, if...
Steve Hamilton (CalPoly (Orfalea College))
Toulouse : TSE, 4 avril 2011, 11h00–12h30, salle MF 323
In this paper, we propose a novel approach to estimating the effect of advertising on market performance that relies on the preferences of firms participating in generic advertising programs. Generic advertising campaigns provide a unique window to observe advertising effects on market performance...
Sanjeev Goyal (University of Cambrigde)
Toulouse : TSE, 31 mars 2011, 14h30–16h00, salle MF 323
Simone Meraglia
Toulouse : TSE, 31 mars 2011, 12h45–14h00, salle MF 323
We study a three-tier hierarchy Political Principal - Competition Authority - Firms in which the Principal chooses the Authority's (i) budget, (ii) percentage of the fine (bonus), and (iii) preferences in presence of moral hazard. Collusion between the Authority and firms may arise in order to...
Jean-Baptiste Hiriart-Urruty (IMT - Université de Toulouse)
Toulouse : TSE, 31 mars 2011, 12h30–14h00, salle MB 405
L'exposé de séminaire sera divisé en deux parties. La première partie, plus générale et abstraite, traitera de la relaxation (par convexification), d'un problème variationel non convexe. On montrera comment on peut récupérer les solutions du problème relaxé à l'aide non pas des solutions du...
Randall Wright (Professor at the University of Wisconsin-Madison)
Toulouse, France, du 30 mars au 1 avril 2011
