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Gilles Saint-Paul
n° 09-066, 25 juillet 2009
Aditya Goenka et Manh-Hung Nguyen
n° 09-064, 20 juillet 2009
We prove the existence of competitive equilibrium and the moothness of policy function in an optimal growth model with elastic labor supply by using a simple method. Our approach is based on the result of existence of Lagrange multipliers and their representation as a summable sequence due to Le...
Andrea Attar, Thomas Mariotti et François Salanié
n° 09-055, juin 2009
We consider an exchange economy in which a seller can trade an endowment of a divisible good whose quality she privately knows. Buyers compete in menus of non-exclusive contracts, so that the seller may choose to trade with several buyers. In this context, we show that an equilibrium always exists...
Emmanuel Farhi et Jean Tirole
n° 09-052, juin 2009, révision octobre 2010, 49 pages
The paper elicits a mechanism by which private leverage choices exhibit strategic complementarities through the reaction of monetary policy. When everyone engages in maturity transformation, authorities haver little choice but facilitating refinancing. In turn, refusing to adopt a risky balance...
David Martimort, Jean-Christophe Poudou et Wilfried Sand-Zantman
n° 09-053, juin 2009
We analyze the contract between an innovator and a developer, when the former has private information on his idea and the latter must exert efforts but may also quit the relationship after having been informed. We show that the equilibrium contracts distort downwards the developer's incentives but...
Christoph Rothe
n° 09-054, juin 2009
This note demonstrates identification of Unconditional Partial Effects introduced by Firpo, Fortin, and Lemieux (2009) in nonseparable triangular models with endogenous regressors via a control variable approach, as employed by Imbens and Newey (2009).
Angel Lopez et Patrick Rey
n° 09-056, juin 2009, révision 2 avril 2015
Christian Gollier
n° 09-049, juin 2009
Jose Luis Guasch et Stéphane Straub
vol. 19, n° 2, juin 2009, p. 185–190
Bruno Biais et Martin Weber
vol. 55, n° 6, juin 2009, p. 1018–1029
