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Augustin Landier (TSE)
Toulouse : TSE, 6 décembre 2010, 12h30–14h00, salle MF 323
Using loan level data, we investigate the lending behavior of a large subprime mortgage originator, New Century, prior to its bankruptcy in the beginning of 2007. We provide evidence of sudden risk-shifting in New Century’s lending behavior in 2004. This change follows the sharp monetary policy...
Carmen Marchiori (LSE Londres)
Toulouse : TSE, 6 décembre 2010, 11h00–12h30, salle MF 323
Toulouse, 3 décembre 2010, 08h30–18h00, salle MF 323
George Tauchen (University of Duke)
Toulouse : TSE, 2 décembre 2010, 15h30–17h00, salle MF 323
We develop a new efficient and analytically tractable method for estimation of parametric volatility models that is robust to price-level jumps and generally has good finite sample properties. The method entails first integrating intra-day data into the Realized Laplace Transform of volatility,...
Ludovic Renou (University of Leicester)
Toulouse : TSE, 2 décembre 2010, 12h30–14h00, salle MB 405
This paper introduces the concept of ordient for binary relations (preferences), a relative of the concept of gradient for functions (utilities). The main motivation for this study is to replace the binary relation at the center stage of economic analysis, rather than its representation (whenever...
Nishith Prakash (Cornell University)
Toulouse : TSE, 2 décembre 2010, 11h00–12h30, salle MF 323
India's colonial legacy and linguistic diversity give English an important role in its economy, and this role has expanded due to globalization in recent decades. It is widely believed that there are sizable economic returns to English-language skills in India, but the extent of these returns is...
Christopher A. Sims (Princeton University)
Toulouse : TSE, 30 novembre 2010, 17h00–18h30, salle MF 323
Yuichi Kitamura (Yale University)
Toulouse : TSE, 30 novembre 2010, 15h30–17h00, salle MF 323
This paper develops a Bayes procedure for moment restriction models. A nonparametric prior is employed to carry out Bayesian analysis without imposing parametric distributional assumptions. Projection methods are used to deal with problems associated with identifying restrictions. A...
Béatrice Laurent (INSA Toulouse)
Toulouse : TSE, 30 novembre 2010, 14h00–15h30, salle MF 323
Jean-Pierre Ponssard (Department of Economics, Ecole Polytechnique, CNRS)
Toulouse : TSE, 30 novembre 2010, 11h00–12h30, salle MF323
This paper investigates the optimal mix between home capacity and imports to face an uncertain demand. It is proved that, if the difference between the home variable cost and the import price is large, the optimal home capacity increases as uncertainty increases, while it decreases if it is small....
