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Eduardo Engel (Yale University and NBER)
Toulouse : TSE, 11 janvier 2010, 17h00–18h30, salle MF 323
The sensitivity of U.S. aggregate investment to shocks is procyclical: the initial response increases by approximately 50% from the trough to the peak of the business cycle. This feature of the data follows naturally from a DSGE model with lumpy microeconomic capital adjustment. Beyond explaining...
Jean Marie Baland (FUNDP)
Toulouse : TSE, 7 janvier 2010, 11h00–12h30, salle MF 323
Massimo Marinacci (Bocconi University)
Toulouse : TSE, 17 décembre 2009, 15h30–17h00, salle MF 323
We study a two-period economy in which agents’ preferences take into account relative economic position. The study builds on a decision theoretic analysis of the social emotions that underly these concerns, i.e., envy and pride, which respond to social losses and gains, respectively. The analysis...
Caroline Thomas (University College London)
Toulouse : TSE, 17 décembre 2009, 12h45–14h00, salle MF 323
This paper describes a geometrical method for constructing equilibrium distribution in the Colonel Blotto game with asymmetric battlefield values. It generalises to the n-dimensional case a construction method first described by Gross and Wagner. The proposed method does particularly well in...
Arvind Krishnamurthy (Yale University)
Toulouse : TSE, 17 décembre 2009, 11h00–12h30, salle MF 323
This paper introduces habit formation into an otherwise standard model of international trade. Household tastes evolve over time to favor foods consumed as a child. In autarky, households prefer foodstuffs that are locally abundant and thus relatively inexpensive. The opening of trade causes a rise...
Galina Zudenkova (University Carlos III of Madrid)
Toulouse : TSE, 16 décembre 2009, 11h00–12h15, salle MD 102
Voters often split tickets, voting for candidates from different parties in simultaneous elections. In this paper, I apply a political agency framework with implicit incentives to study ticket splitting in simultaneous municipal and regional elections. I show that ticket splitting is a natural...
Giorgio Primiceri (Northwestern University)
Toulouse : TSE, 14 décembre 2009, 15h00–16h30, salle MF 323
We study the evolution of market-oriented policies over time and across countries. We consider a model in which own and neighbors' past experiences influence policy choices, through their effect on policymakers' beliefs. We estimate the model using a large panel of countries and find that it fits a...
Alex Edmans (Wharton)
IDEI, 14 décembre 2009, 12h30–14h00, salle MF 323
Contracts in a dynamic model must address a number of issues absent from static frameworks. Shocks to firm value may weaken the incentive effects of securities (e.g. cause options to fall out of the money), and the impact of some CEO actions may not be felt until far in the future. We derive the...
Serge Garcia (INRA-LEF)
Toulouse : TSE, 14 décembre 2009, 11h00–12h30, salle MF 323
The aim of our article is to understand consumer preferences for wood and competitive materials. Assuming that a wood product is composed of various attributes, we consider that consumers’ choices are not guided by observed characteristics but, instead, by the quality perception consumers have of...
Roland Bénabou (Princeton University)
Toulouse, France, 14–16 décembre 2009
