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Karen Macours (Johns Hopkins University)
Toulouse : TSE, 5 novembre 2009, 11h00–12h30, salle MF 323
In many developing countries, cash transfer programs are an important component of the social safety net. A large number of studies have assessed the impact of such programs on consumption poverty, health status, nutrition, and education. Much less is known about the extent, if any, to which cash...
Frédérique Bec (CREST - THEMA)
Toulouse : TSE, 3 novembre 2009, 17h00–18h30, salle MF 323
This paper explores empirically the link between French equities returns Value-at-Risk (VaR) and the state of financial markets cycle. The econometric analysis is based on a simple vector autoregression setup. Using quarterly data from 1970Q4 to 2008Q3, it turns out that the k-year VaR of French...
Klenio Barbosa (Toulouse School of Economics-LERNA)
Toulouse : TSE, 22 octobre 2009, 12h45–14h00, salle MF 323
Despite low-powered contracts do not provide proper incentives to reduce cost, empirical studies show that they are quite pervasive in public and private procurement. This paper demonstrates that low-powered contracts arise in equilibrium due to a free-riding problem in procurement design when the...
Toulouse, France, 22–23 octobre 2009
Dans les économies où les ressources sont incertaines, les mécanismes de partage du risque permettent de réallouer les biens de consommation d’une façon plus efficace que les ressources. Néanmoins, l’efficacité nécessite que les marchés soient complets. Depuis le papier fondateur de Townsend (1994...
Lutz Dümbgen (University of Bern)
Toulouse : TSE, 20 octobre 2009, 15h30–16h30, salle MF 323
Log-concave distributions are an interesting and well-behaved nonparametric model. In the first part of the talk we present some fundamental properties of this model and discuss maximum-likelihood estimation based on i.i.d. data. In the second part we discuss potential applications to regression...
Markus Mobius (Harvard University)
Toulouse : TSE, 20 octobre 2009, 11h00–12h30, salle MF 323
This paper uses a microfinance field experiment in two Lima shantytowns to measure the relative importance of social networks and prices for borrowing. Our design randomizes the interest rate on loans provided by a microfi- nance agency, as a function of the social distance between the borrower and...
Toulouse, France, 20–21 octobre 2009
Tobias Broer (IIES Stockholm)
Toulouse : TSE, 19 octobre 2009, 17h00–18h30, salle MF 323
This paper shows how the rise in individual income risk in the US since the 1980s might help explain the fall in its foreign asset position. The key to this result is endogenous financial deepening in an open economy with participation-constrained domestic financial markets. More volatile income...
Renaud Bourles (Université de la Méditérranée)
IDEI, 19 octobre 2009, 12h30–14h00, salle MF 323
The aim of this paper is to analyze the need for cash and default regulation in nsurance. Proponents of deregulation argue that these requirements are useless as insurers would hold enough cash as soon as policyholders are fully informed about their default probability. Adding to the purpose the...
Kyösti Pietola (Agrifood Research Finland, MTT)
Toulouse : TSE, 19 octobre 2009, 11h00–12h30, salle MF 323
Capital gains taxes are important sources of government income in particular in high tax Scandinavian countries. Theses taxes, nevertheless, likely distort the market and resource allocations through so called “lock-in” effect by discouraging trade transactions that would trigger the tax payments....
