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Susan Athey et Markus Mobius
février 2012
This paper analyzes the impact of news aggregators on the quantity and composition of internet news consumption. In principle, news aggregators can be a substitute or a complement to the news outlets who invest in the creation of news stories. A policy debate centers around the decrease in the...
Emmanuel Farhi et Jean Tirole
vol. 102, février 2012, p. 60–93
The paper shows that time-consistent, imperfectly targeted support to distressed institutions makes private leverage choices strategic complements. When everyone engages in maturity mismatch, authorities have little choice but intervening, creating both current and deferred (sowing the seeds of the...
Jean Tirole
vol. 102, février 2012, p. 29–59
The paper provides a first analysis of market jumpstarting and its two-way interaction between mechanism design and participation constraints. The government optimally overpays for the legacy assets and cleans up the market of its weakest assets, through a mixture of buybacks and equity...
vol. 16, février 2012, p. 225–242
The debate on the Euro crisis understandably has had a strong short term focus. Avoiding short‐term disaster has been tantamount and the long term sustainability issue sometimes neglected; yet, the institutional failure of the Eurozone forces us to reconsider current arrangements in order to...
Jérôme Renault
vol. 37, n° 1, février 2012, p. 154–179
Augustin Landier
vol. 1, février 2012, p. 121–132
1 mars 2012
26 février 2012
