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Nancy Qian (Brown University)
Toulouse : TSE, 28 mai 2009, 11h00–12h30, salle MF 323
This paper investigates the extent to which the government can strategically distort a free media market by examining the e¤ect of the U.S. State Department's bias in human rights reporting on coverage in the New York Times. To establish causality, we exploit a novel source of variation in the...
28–29 mai 2009
Agustín Pérez-Barahona (Paris 1 & Ecole Polytechnique)
Toulouse : TSE, 26 mai 2009, 11h00–12h00, salle MC 407
We present an OLG model in which life expectancy and environmental quality dynamics are jointly determined. Agents may invest in environmental quality, depending on how much they expect to live. In turn, environmental conditions affects life expectancy. The model produces multiple steady-states (...
Leonardo Felli (London School of Economics)
Toulouse : TSE, 26 mai 2009, 11h00–12h30, salle MF 323
In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably incomplete, this confers an advantage to the Case Law regime over the Statute Law one. However, all Courts rule ex-post, after most economic decisions are already taken. Therefore, the...
Bernado Guimaraes (London School of Economics)
Toulouse : TSE, 25 mai 2009, 17h00–18h30, salle MF 323
This paper analyses a small open economy that wants to borrow from abroad, cannot commit to repay debt but faces costs if it decides to default. I study the optimal debt contract in this world in order to quantify the impact of shocks on the incentive compatible level of debt. Debt relief generated...
Johan Hombert (ENSAE-CREST)
TSE, 25 mai 2009, 12h30–14h00, salle MF 323
I study the welfare properties of competitive equilibria in an economy with financial frictions. In the model, entrepreneurs raise funds to set up a firm, then they exert effort, and finally they trade assets. Private financial contracts do not internalize their impact on asset prices. On the one...
Chrysovalantou Milliou (Athens University of Economics and Business)
Toulouse : TSE, 25 mai 2009, 11h00–12h00, salle MF 323
We study horizontal mergers in upstream markets and their potential efficiency gains. We explore the incentives for such mergers, their impact on R&D investments, as well as the interaction in terms of welfare between their potentially efficiency-enhancing effects and their anti-competitive...
Thomas Tregouet (Ecole Polytechnique)
Toulouse : TSE, 20 mai 2009, 11h00–12h30, salle MC 201
We analyze the trade-off between monopoly and competition in matching markets where one side is exempted from payment. The socially efficient outcome is characterized by an optimal quality provision and an efficient market coverage: matched agents are matched assortatively and all agents find a...
Maristella Botticini (Collegio Carlo Alberto,University of Torino and Boston University)
Toulouse : TSE, 18 mai 2009, 17h00–18h30, salle MC 203
From the end of the second century CE, Judaism enforced a religious norm requiring fathers to educate their sons. We present evidence supporting our thesis that this change had a major influence on Jewish economic and demographic history. First, the high individual and community cost of educating...
Adriano Rampini (Duke University)
IDEI, 18 mai 2009, 12h30–14h00, salle MC 201
This paper develops a dynamic model of the capital structure based on the need to collateralize loans with tangible assets. The model provides a unified theory of optimal firm financing in terms of the optimal capital structure, investment, leasing, and risk management policy. Tangible assets are a...
