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Valentin Patilea (ENSAI)
Toulouse : TSE, 16 novembre 2010, 14h00–15h30, salle MF 323
Linear Vector AutoRegressive (VAR) models where the innovations could be unconditionally heteroscedastic and serially dependent are considered. The volatility structure is deterministic and quite general, including breaks or trending variances as special cases. In this framework we propose...
Francesco Squintani (University of Essex)
Toulouse : TSE, 16 novembre 2010, 11h00–12h30, salle MF 323
This paper brings mechanism design to conflict resolution. We determine when and how unmediated communication and mediation reduce the ex ante probability of conflict in a game of conflict with asymmetric information. Mediation improves upon unmediated communication when the intensity of conflict...
Gino Gancia (CREI)
Toulouse : TSE, 15 novembre 2010, 17h00–18h30, salle MF 323
This paper formalizes in a fully-rational model the popular idea that politicians perceive an electoral cost in adopting costly reforms with future benefits and reconciles it with the evidence that reformist governments are not punished by voters. To do so, it proposes a model of elections where...
Nizar Touzi (Ecole Polytechnique)
TSE, 15 novembre 2010, 12h30–14h00, salle MF 323
We develop a stochastic control approach for the derivation of model independent bounds for derivatives under various calibration constraints. Unlike the previous literature, our formulation seeks the optimal no arbitrage bounds given the knowledge of the distribution at some (or various) point in...
Emmanuel Guerre (School of Economics and Finance, Queen Mary, University of London)
Toulouse : TSE, 9 novembre 2010, 14h00–15h30, salle MF 323
Donald and Newey (2001) has proposed a data-driven procedure to choose the instruments used in a two stage procedure or in LIML, which heavily assumes that a preference order is available for the instruments. Although such a condition is reasonable in series expansion methods for the higher order...
Robert B. Wilson (Stanford University)
Toulouse : TSE, 9 novembre 2010, 11h00–12h30, salle MF 323
We impose three axioms on refinements of the Nash equilibria of games with perfect recall that select connected closed nonempty subsets, called solutions. Undominated Strategies: Each equilibrium in a solution uses undominated strategies. Backward Induction: Each solution contains a quasi-perfect...
Victor Rios-Rull (University of Minnesota)
Toulouse : TSE, 8 novembre 2010, 14h30–16h00, salle MF 323
We build a model where demand shocks look like productivity shocks despite technology being constant. Frictions in goods markets allow shoppers (computers and investors) to play a central role in expanding output via a competitive search mechanism. We estimate the required demand shocks that...
Nobuhiro Kiyotaki (University of Princeton)
8 novembre 2010, 12h30–14h00, salle MD 001
We develop a canonical framework to think about credit market frictions and aggregate economic activity in the context of the current crisis. We use the framework to address two issues in particular: First, how disruptions in financial intermediation can induce a crisis that affects real activity;...
Rahmi Ilkilic (Maastricht University)
Toulouse : TSE, 8 novembre 2010, 11h00–12h30, salle MH203
Suppose markets and firms are connected in a bi-partite network, where firms can only supply to the markets they are connected to. Firms compete a la Cournot and decide how much to supply to each market they have a link with. We assume that markets have linear demand functions and firms have convex...
Robert B. Wilson (Nobel Prize 2007)
Toulouse, France, 8 novembre 2010
