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Sebastian Koehne (University of Mannheim)
Toulouse : TSE, 3 décembre 2009, 12h45–14h00, salle MF 323
Moral hazard models with hidden saving decisions are useful to study such diverse problems as unemployment insurance, income taxation, executive compensation, or human capital policies. How can we solve such models? In general, this is very difficult. Under the conditions derived in this paper,...
Michael Grimm (Institute of Social Studies - The Hague)
Toulouse : TSE, 3 décembre 2009, 11h00–12h30, salle MF 323
There is a well-known debate about the role of institutions in explaining the long-term development of countries. We believe there is value-added to consider the institutions hypothesis at the micro level within a country to analyze the exact transmission channels linking endogenous institutional...
Martijn Han (Amsterdam Center for Law & Economics (ACLE), University of Amsterdam)
Toulouse : TSE, 2 décembre 2009, 11h00–12h30, salle MF 323
This paper argues that commonly observed fixed-term renewable employment contracts may increase cartel stability. When managerial appointments are renewed if and only if the firm performs well, cartel stability depends not only on (i) the conventional tradeoff between the immediate monetary gain of...
Levent Kockesen (Koç University)
Toulouse : TSE, 1 décembre 2009, 11h00–12h30, salle MF 323
It is well known that non-renegotiable contracts with third parties may have an effect on the outcome of a strategic interaction and thus serve as a commitment device. We address this issue when contracts are renegotiable. More precisely, we analyze the equilibrium outcomes of twostage games with...
Gilles Saint-Paul
Toulouse : TSE, 30 novembre 2009, 17h00–18h30, salle MF 323
Marcin Kacperczyk (Department of Finance Stern School of Business and NBER, New York University)
IDEI, 30 novembre 2009, 12h30–14h00, salle MF 323
The invisibility of information precludes a direct test of attention allocation theories. To surmount this obstacle, we develop a model that uses an observable variable – the state of the business cycle – to predict attention allocation. Attention allocation, in turn, predicts aggregate investment...
Daniel Wikstrom (Swedish University of Agricultural Sciences)
Toulouse : TSE, 30 novembre 2009, 11h00–12h30, salle MF 323
We propose a new way of estimating a stochastic frontier model with time-varying firm effects. By means of nonparametric smoothing of categorical data we allow for completely unspecified time-varying firm effects. Furthermore it is well established that smoothing of cell probabilities of sparse...
Konrad Raff (Toulouse School of Economics-GREMAQ) et Mike Burkart (Stockholm School of Economics)
Toulouse : TSE, 26 novembre 2009, 12h45–14h00, salle MF 323
We propose that the takeover market mitigates agency conflicts by creating acquisition opportunities for successful managers, allowing shareholders to reduce monetary incentives. As a consequence, shareholders commit to finance not ony profitable but also some unprofitable takeovers. While board...
Alireza Naghavi (University of Bologna)
Toulouse : TSE, 26 novembre 2009, 11h00–12h30, salle MF 323
This research examines the economic origins of Islam. It empirically demonstrates that Muslim countries, virtual countries and ethnic groups, exhibit highly unequal regional agricultural endowments. This particular type of geography (i) determined the economic aspects of the religious doctrine upon...
Jinhyun Lee (University College London)
Toulouse : TSE, 25 novembre 2009, 11h00–12h15, salle MF 323
This paper aims to identifiy heterogeneous causal effects of an ordered discrete variable chosen by individuals, without relying on parametric assumptions. The proposed nonparametric restrictions have set identifying power of the value of the nonseparable structural function. When applied to an "...
