Finance

• CHAIRE Fédération des Banques Françaises - IDEI.

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• Finance in Toulouse (FIT).

  Members: Andrea Attar, Bruno Biais, Christophe Bisière, Catherine Bobtcheff, Catherine Casamatta, Frédéric Cherbonnier, Jean-Paul Décamps, Fany Declerck, Roberta Dessi, Christian Gollier, Alexander Guembel, Augustin Landier, Thomas Mariotti, Nour Meddahi, Sophie Moinas, Guillaume Plantin, Sébastien Pouget, Soenje Reiche, Jean-Charles Rochet, Silvia Rossetto, Stéphane Villeneuve and Ekaterina Voltchkova.
• Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse.
• Paul Woolley Research Initiative on Capital Market Dysfunctionalities.

  Members: Andrea Attar, Bruno Biais, Christophe Bisière, Catherine Casamatta, Jean-Paul Décamps, Fany Declerck, Christian Gollier, Alexander Guembel, Augustin Landier, Thomas Mariotti, Sophie Moinas, Guillaume Plantin, Sébastien Pouget, Jean-Charles Rochet, Jean Tirole and Stéphane Villeneuve.
• Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI.

1988

• Marcel Boyer, Jean-Jacques Laffont and Jean-Charles Rochet, "Stock Market Portfolios and the Segmentation of the Insurance Market", The Scandinavian Journal of Economics, vol. 90, n. 3, 1988, p. 425-446.

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1990

• Christophe Bisière, Charles Lai Tong and Anne Peguin-Feissolle, "Prévision bayésienne et structure par terme des taux d'intérêt", Revue Économique, vol. 41, n. 5, September 1990, p. 817-838.

1993

• Bruno Biais, "Price Formation and Equilibrium Liquidity in Centralized and Fragmented Markets", The Journal of Finance, 1993.
• Roger Guesnerie and Jean-Charles Rochet, "(De) Stabilizing Properties of Futures Markets: an Alternative View Point", European Economic Review, vol. 37, n. 5, Elsevier, 1993, p. 1043-1064.

• Jean-Paul Décamps, "Valorisation de Produits Obligataires dans un Modèle d'Equilibre Général en Temps Discret", Annales d'Économie et de Statistique, n. 31, Institut national de la statistique et des études économiques, Paris, July-September 1993, p. 73-101.

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1994

• Bruno Biais and Pierre Hillion, "Insider and Liquidity Trading in Stock and Options Markets", The Review of Financial Studies, 1994.

• André Grimaud and Jean-Charles Rochet, "L'apport du modèle de concurrence monopolistique à l'économie bancaire", Revue Économique, vol. 45, n. 3, May 1994.

1995

• Bruno Biais, Pierre Hillion and Chester Spatt, "An Empirical Analysis of the Order Flow and Order Book in the Paris Bourse", The Journal of Finance, 1995.
• Christian Gollier, "The Comparative Statics of Changes in Risk Revisited", Journal of Economic Theory, vol. 66, 1995, p. 522-536.
• André Grimaud and Jean-Charles Rochet, "Concurrence spatiale entre banques de dépôts : une approche théorique", Cahiers Économiques et Monétaires de la Banque de France, series "Etudes", n. 44, Banque de France, Paris, 1995.

1996

• Christophe Bisière, "Effet richesse et effet information dans la structure par terme des taux d'intérêt", Finance, vol. 17, n. 1, 1996, p. 7-29.
• Louis Eeckhoudt, Christian Gollier and Harris Schlesinger, "Changes in Background Risk, and Risk Taking Behaviour", Econometrica, vol. 64, 1996, p. 683-690.

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• Christian Gollier, "Repeated Optional Gambles and Risk Aversion", Management Science, vol. 42, 1996, p. 1524-1530.
• Christian Gollier and J. W. Pratt, "Risk Vulnerability and the Tempering Effect of Background Risk", Econometrica, vol. 64, 1996, p. 1109-1124.

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• Christian Gollier and Harris Schlesinger, "Arrow's Theorem on the Optimality of Deductibles: A Stochastic Dominance Approach", Economic Theory, vol. 7, Springer Berlin / Heidelberg, 1996, p. 359-363.

• Christophe Bisière, "SD-Solver: Towards a Multidirectional CLP-Based Simulation Tool. Framework and Short Financial Examples", Computational Economics, vol. 9, n. 4, Kluwer Academic Publishers, November 1996, p. 299-315.
• Jean-Charles Rochet and Jean Tirole, "Interbank Lending and Systemic Risk", Journal of Money, Credit and Banking, vol. 28, n. 4, November 1996, p. 733-762.

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• Jean-Charles Rochet and Jean Tirole, "Controlling Risk in Payment Systems", Journal of Money, Credit and Banking, vol. 28, n. 4, November 1996, p. 832-862.

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1997

• Bruno Biais and Christian Gollier, "Trade Credit and Credit Rationing", The Review of Financial Studies, vol. 10, 1997, p. 903-937.

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• Christian Gollier, J. Lindsey and Richard Zeckhauser, "Investment Flexibility and the Acceptance of Risk", Journal of Economic Theory, 1997, p. 219-242.
• Christian Gollier, "A Note on Portfolio Dominance", The Review of Economic Studies, vol. 64, 1997, p. 147-150.

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1998

• Bruno Biais and Peter Bossaerts, "Asset Prices and Trading Volume in a Beauty Contest", The Review of Economic Studies, vol. 65, 1998, p. 307-340.
• Bruno Biais, Thierry Foucault and François Salanié, "Floors, dealer markets and limit order markets", Journal of Financial Markets, n. 1, 1998, p. 253-284.

1999

• Bruno Biais and Catherine Casamatta, "Optimal Leverage and Aggregate Investment", The Journal of Finance, vol. 54, 1999, p. 1291-1323.
• Bruno Biais, Pierre Hillion and Chester Spatt, "Price Discovery and Learning during the Preopening Period in the Paris Bourse", Journal of Political Economy, 1999.

• Antoine Faure-Grimaud and Thomas Mariotti, "Optimal Debt Contracts and the Single-Crossing Condition", Economics Letters, vol. 65, n. 1, Elsevier, October 1999, p. 85-89.

• Bruno Biais, Christophe Bisière and Jean-Paul Décamps, "Short Sales Constraints, Liquidity and Price Discovery: an Empirical Analysis on the Paris Bourse", European Financial Management, vol. 5, n. 3, November 1999, p. 395-409. doi:10.1111/1468-036X.00101.

• Guillaume Plantin, "Financement optimal de la solvabilité d'un assureur", Bulletin Français d'Actuariat, vol. 3, n. 6, December 1999, p. 1-14.

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2000

• Bruno Biais and Raphaël Shadur, "On the Survival of Irrational Traders: A Darwinian Approach", European Economic Review, vol. 44, Elsevier, 2000, p. 469-490.
• Antoine Faure-Grimaud, "Optimal Debt Contracts and Product Market Competition: The Limited Liability Effect Revisited", European Economic Review, vol. 44, n. 10, Elsevier, 2000.
• Xavier Freixas, Bruno M. Parigi and Jean-Charles Rochet, "Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank", Journal of Money, Credit and Banking, vol. 32, n. 3(2), 2000, p. 611-638.

• Christian Gollier and Carole Haritchabalet, "Assurance et prévention optimale", Revue d'Économie Politique, vol. 110, n. 2, March 2000, p. 181-205.

• Antoine Faure-Grimaud, Jean-Jacques Laffont and David Martimort, "A Theory of Supervision with Endogenous Transaction Costs", Annals of Economics and Finance, vol. 1, Peking University Press, May 2000, p. 231-263.

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• Bruno Biais, David Martimort and Jean-Charles Rochet, "Competing Mechanisms in a Commun Value Environment", Econometrica, vol. 68, n. 4, July 2000, p. 799-837.

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• Christophe Bisière and Thierry Kamionka, "Timing of Orders, Orders Aggressiveness and the Order Book in the Paris Bourse", Annales d'Économie et de Statistique, n. 60, Institut national de la statistique et des études économiques, Paris, October-December 2000.

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• Jean-Paul Décamps and Antoine Faure-Grimaud, "Bankruptcy Costs, Ex Post Renegotiation and Gambling for Resurrection", Finance, December 2000.

2001

• Jean-Paul Azam, Bruno Biais, Magueye Dia and Christine Maurel, "Informal and Formal Credit Markets and Credit Rationing in Côte d'Ivoire", Oxford Review of Economic Policy, vol. 17, n. 4, Winter 2001, p. 520-534.
• Sudipto Bhattacharya and Antoine Faure-Grimaud, "The Debt Hangover: Renegotiation with Noncontractible Investment", Economics Letters, vol. 70, n. 3, Elsevier, 2001, p. 413-419.
• Gilles Chemla and Antoine Faure-Grimaud, "Dynamic Adverse Selection and Debt", European Economic Review, n. 45, Elsevier, 2001, p. 1773-1792.
• Roberta Dessi, "Implicit Contracts, Managerial Incentives and Financial Structure", Journal of Economics and Management Strategy, vol. 10, n. 3, 2001, p. 359-390.
• Antoine Faure-Grimaud and David Martimort, "On Some Agency Costs of Intermediated Contracting", Economics Letters, n. 71, Elsevier, 2001, p. 75-81.
• Christian Gollier, "Wealth Inequality and Asset Pricing", The Review of Economic Studies, vol. 68, 2001, p. 181-203.

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• Sébastien Pouget, "Finance de Marché Expérimentale : Une Revue de Littérature", Finance, vol. 22, n. 1, June 2001.

2002

• Bruno Biais, Peter Bossaerts and Jean-Charles Rochet, "An Optimal IPO Mechanism", The Review of Economic Studies, vol. 69, 2002, p. 117-146.
• Bruno Biais and Anne-Marie Faugeron-Crouzet, "IPO Auctions: English, Dutch, ... French and Internet", Journal of Financial Intermediation, vol. 11, 2002, p. 9-36.
• Bruno Biais and Laurent Germain, "Incentive Compatible Contracts for the Sale of Information", The Review of Financial Studies, vol. 15, 2002, p. 987-1003.
• Jean-Paul Décamps and Antoine Faure-Grimaud, "Excessive Continuation and Dynamic Agency Costs of Debt", European Economic Review, vol. 46, Elsevier, 2002, p. 1623-1644.
• Antoine Faure-Grimaud, "Soft Budget Constraints and Stock Price Information", The Review of Economic Studies, vol. 69, n. 1, 2002, p. 169-190.
• Christian Gollier, "Discounting an Uncertain Future", Journal of Public Economics, vol. 85, 2002, p. 149-166.
• Christian Gollier and Harris Schlesinger, "Changes in Risk and Asset Prices", Journal of Monetary Economics, vol. 49, n. 4, 2002, p. 761-795.
• Jean-Charles Rochet and Lars Stole, "Nonlinear Pricing with Random Participation", The Review of Economic Studies, vol. 69, n. 1, 2002, p. 277-311.
• Jean-Charles Rochet and Jean Tirole, "Cooperation among Competitors: Some Economics of Payment Card Associations", The RAND Journal of Economics, vol. 33, n. 4, 2002, p. 1-22.

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• Fany Declerck, "Le prix de l'immédiateté : le cas de la Bourse de Paris", Banque et Marchés, vol. 57, March 2002, p. 31-45.

• Christian Gollier and Richard Zeckhauser, "Time Horizon and Portfolio Risk", Journal of Risk and Uncertainty, vol. 24, n. 3, May 2002, p. 195-212.

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• Fany Declerck and Patrick Hazart, "Impacts de l'animation sur la qualité du Second Marché", Banque et Marchés, vol. 60, September 2002, p. 5-18.

• Christian Gollier, "Time Diversification, Liquidity Constraints, and Decreasing Aversion to Risk on Wealth", Journal of Monetary Economics, vol. 49, n. 7, October 2002, p. 1439-1459.
• Nour Meddahi, "A Theoretical Comparison Between Integrated and Realized Volatility", Journal of Applied Econometrics, vol. 17, n. 5, October 2002, p. 479-508. doi:10.1002/jae.689.

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• Christian Gollier, "Time Horizon and the Discount Rate", Journal of Economic Theory, vol. 107, n. 2, December 2002, p. 463-473.

2003

• Catherine Casamatta, "Financing and Advising: Optimal Financial Contracts with Venture Capitalists", The Journal of Finance, vol. 58, 2003, p. 2059-2085.
• Roberta Dessi and Donald Robertson, "Debt, Incentives and Performance : Evidence from UK Panel Data", The Economic Journal, vol. 113, 2003, p. 1-17.
• Christian Gollier and Nicolas Treich, "Decision-Making under Scientific Uncertainty: The Economics of the Precautionary Principle", Journal of Risk and Uncertainty, vol. 27, 2003, p. 77-103.

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• Jean-Charles Rochet, "Why are there so many Banking Crises?", CESifo Economic Studies, vol. 49, n. 2, Ifo Institute for Economic Research, Munich, 2003, p. 141-156.
• Jean-Charles Rochet and Jean Tirole, "An Economic Analysis of the Determination of Interchange Fees in Payment Card Systems", The Review of Network Economics, vol. 2, n. 2, 2003, p. 69-79.

• Fany Declerck, "Analyse de l'impact de l'extension des horaires de cotation sur la qualité du marché parisien", Banque et Marchés, vol. 63, March 2003, p. 34-45.

• Christian Gollier, Denis Hilton and E. Raufaste, "Daniel Kahneman et l'analyse de la décision face au risque", Revue d'Économie Politique, vol. 3, May-June 2003, p. 295-308.

• Christian Gollier and Harris Schlesinger, "Preserving Preference Rankings under Background Risk", Economic Letters, vol. 80, n. 3, September 2003, p. 337-341.

• Helmuth Cremer, Pierre Pestieau and Jean-Charles Rochet, "Capital Income Taxation when Inherited wealth is not Observable", Journal of Public Economics, vol. 87, n. 11, October 2003, p. 2475-2490.

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• Erzo G.J. Luttmer and Thomas Mariotti, "Subjective Discounting in an Exchange Economy", Journal of Political Economy, vol. 111, n. 5, October 2003, p. 959-989. doi:10.1086/376954.

• Andrea Attar and Eloisa Campioni, "Costly State Verification and Debt Contracts: a Critical Resume", Research in Economics, vol. 57, n. 4, December 2003, p. 315-343. doi:10.1016/j.rie.2003.05.001.

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• Nour Meddahi, "ARMA Representation of Integrated and Realized Variances", The Econometrics Journal, vol. 6, n. 2, December 2003, p. 334-355. doi:10.1111/1368-423X.t01-1-00112.

2004

• Andrea Attar, "Financial Constraints and Economic Fluctuations", Rivista Italiana Degli Economisti, n. 2, 2004, p. 334-358.

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• Jean-Paul Azam, Bruno Biais and Magueye Dia, "Privatization versus Regulation in Developing Economies: the Case of West African Banks", Journal of African Economies, vol. 13, n. 3, 2004, p. 361-394.

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• Antoine Faure-Grimaud and Denis Gromb, "Public Trading and Private Incentives", The Review of Financial Studies, vol. 17, n. 4, 2004, p. 985-1014.
• Christian Gollier, "Optimal Dynamic Portfolio Risk with First-Order and Second-Order Predictability", Contributions to Theoretical Economics, vol. 4, n. 1, 2004.

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• Alexander Guembel, "Emerging Markets and Entry by Actively Managed Funds", Greek Economic Review, vol. 23, n. 1, 2004.
• B. Rey and Jean-Charles Rochet, "Health and Wealth: How Do they Affect Individual Preferences?", Geneva Papers on Risk and Insurance, vol. 29, n. 1, 2004, p. 43-54.
• Jean-Charles Rochet, "Réglementation prudentielle et discipline de marché", Revue d'économie financière, vol. 73, 2004, p. 201-212.

• Frédéric Cherbonnier and Florent Pochon, "Une comparaison du comportement récent de la Réserve Fédérale et de la Banque Centrale Européenne", Trésor Eco, n. 24, January 2004.

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• D. Bourghelle and Fany Declerck, "Why markets should not necessarily reduce the tick size", Journal of Banking and Finance, vol. 28, February 2004, p. 373-398.

• Jean-Paul Décamps, Jean-Charles Rochet and Benoît Roger, "The Three Pillars of Basel II: Optimizing the Mix", Journal of Financial Intermediation, vol. 13, n. 2, April 2004, p. 132-155.
• Nour Meddahi and Eric Renault, "Temporal Aggregation of Volatility Models", Journal of Econometrics, vol. 119, n. 2, April 2004, p. 355-379. doi:10.1016/S0304-4076(03)00200-8.

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• Christian Gollier, "Maximizing the Expected Net Future Value as an Alternative Strategy to Gamma Discounting", Finance Research Letters, vol. 1, n. 2, June 2004, p. 85-89.

• Frédéric Cherbonnier and Xavier Payet, "Les canaux de transmission de la politique monétaire en France", Trésor Eco, n. 47, September 2004.
• Jean-Paul Décamps and Thomas Mariotti, "Investment Timing and Learning Externalities", Journal of Economic Theory, vol. 118, n. 1, September 2004, p. 80-102.
• Jean-Charles Rochet, "Rebalancing the Three Pillars of Basel II", Economic Policy Review, vol. 10, n. 2, September 2004, p. 7-25.
• Jean-Charles Rochet, "Macroeconomic Shocks and Banking Supervision", Journal of Financial Stability, vol. 1, n. 1, September 2004, p. 93-110.

• David Alary and Christian Gollier, "Debt Contract, Strategic Default, and Optimal Penalities with Judgement Errors", Annals of Economics and Finance, vol. 2, n. 5, Peking University Press, November 2004, p. 357-372.

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• Torben G. Andersen, Tim Bollerslev and Nour Meddahi, "Analytic Evaluation of Volatility Forecasts", International Economic Review, vol. 45, n. 4, November 2004, p. 1079-1110. doi:10.1111/j.0020-6598.2004.00298.x.
• Christian Gollier, "Misery Loves Company: Equilibrium Portfolios with Heterogeneous Consumption Externalities", International Economic Review, vol. 45, n. 4, November 2004, p. 1169-1192.

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• Xavier Freixas, Bruno M. Parigi and Jean-Charles Rochet, "The Lender of Last Resort: A Twenty-First Century Approach", Journal of the European Economic Association, vol. 2, n. 6, December 2004, p. 1085-1115.
• Alexander Guembel and Oren Sussman, "Optimal Exchange Rates: A Market Microstructure Approach", Journal of the European Economic Association, vol. 2, n. 6, December 2004, p. 1242-1272. doi:10.1162/1542476042813823.

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• Jean-Charles Rochet and Xavier Vives, "Coordination Failure and the Last Lender of Resort: Was Bagehot Right After All ?", Journal of the European Economic Association, vol. 2, n. 6, December 2004, p. 1116-1147.

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2005

• Maud Aubier, Frédéric Cherbonnier and Daniel Turquety, "Influence de la fiscalité sur les comportements d’épargne", Économie et Prévision, vol. 5, n. 171, 2005, p. 321-329.
• Bruno Biais, Catherine Casamatta and Jean-Charles Rochet, "Risque opérationnel et régulation du capital dans l'industrie de la gestion de fonds d'investissement en Europe", Revue d'économie financière, vol. 79, 2005, p. 197-211.
• Roberta Dessi, "Start-up Finance, Monitoring and Collusion", The RAND Journal of Economics, vol. 36, n. 2, Summer 2005, p. 255-274.

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• Antoine Faure-Grimaud and Roman Inderst, "Conglomerate Entrenchment under Optimal Financial Contracting", American Economic Review, vol. 95, n. 3, 2005, p. 850-861.
• Christian Gollier, "Coût de l'inassurabilité et coûts de l'assurance", Revue d'économie financière, n. 80, 2005, p. 39-52.

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• Christian Gollier, "Quel taux d'actualisation pour l'avenir ?", Revue Française d'Économie, vol. 19, 2005, p. 59-82.
• Christian Gollier, "Les déterminants socio-économiques des comportements face aux risques : commentaire", Revue Économique, vol. 56, 2005, p. 417-422.
• Alexander Guembel, "Should Short-Term Speculators be Taxed, or Subsidised?", Annals of Finance, n. 1, 2005, p. 327-348.
• Jean-Charles Rochet and Stéphane Villeneuve, "Corporate Portfolio Management", Annals of Finance, vol. 1, n. 3, 2005, p. 225-243.

• Torben G. Andersen, Tim Bollerslev and Nour Meddahi, "Correcting the Errors: Volatility Forecast Evaluation Using High-Frequency Data and Realized Volatilities", Econometrica, vol. 73, n. 1, January 2005, p. 279-296. doi:10.1111/j.1468-0262.2005.00572.x.

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• Bruno Biais, Denis Hilton, Karine Mazurier and Sébastien Pouget, "Judgmental Overconfidence, Self-Monitoring and Trading Performance in an Experimental Financial Market", The Review of Economic Studies, vol. 72, n. 2, April 2005, p. 287-312.

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• Louis Eeckhoudt, Christian Gollier and Nicolas Treich, "Optimal Consumption and the Timing of the Resolution of Uncertainty", European Economic Review, vol. 49, n. 3, Elsevier, April 2005, p. 761-773.

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• Alexander Guembel, "Herding in Delegated Portfolio Management: When is Comparative Performance Information Desirable?", European Economic Review, vol. 49, n. 3, Elsevier, April 2005, p. 599-626. doi:10.1016/j.euroecorev.2003.08.009.

• Bruno Biais, Larry Glosten and Chester Spatt, "Market Microstructure: a Survey of Microfoundations, Empirical Results and Policy Implications", Journal of Financial Markets, vol. 8, n. 2, May 2005, p. 217-264.

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• Jean-Paul Décamps, Thomas Mariotti and Stéphane Villeneuve, "Investment Timing under Incomplete Information", Mathematics of Operations Research, vol. 30, n. 2, May 2005, p. 472-500. doi:10.1287/moor.1040.0132.

• Bruno Biais and Thomas Mariotti, "Strategic Liquidity Supply and Security Design", The Review of Economic Studies, vol. 72, n. 3, July 2005, p. 615-649.
• Rama Cont and Ekaterina Voltchkova, "Integro-Differential Equations for Option Prices in Exponential Lévy Models", Finance and Stochastics, vol. 9, n. 3, July 2005, p. 299-325.

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• Christian Gollier and Richard Zeckhauser, "Aggregation of Heterogeneous Time Preferences", Journal of Political Economy, vol. 113, n. 4, August 2005, p. 878-896.

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• Alexander Guembel, "Trading on Short-Term Information", Journal of Institutional and Theoretical Economics, vol. 161, n. 3, September 2005, p. 428-452. doi:10.1628/093245605774259354.

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• Louis Eeckhoudt and Christian Gollier, "The Impact of Prudence on Optimal Prevention", Economic Theory, vol. 26, n. 4, Springer Berlin / Heidelberg, November 2005, p. 989-994.

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2006

• Andrea Attar, Eloisa Campioni and Gwenaël Piaser, "Multiple Lending and Constrained Efficiency in the Credit Market", The B. E. Journal of Theoretical Economics (Contributions), vol. 6, n. 1, 2006.

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• Jean-Paul Décamps and Stefano Lovo, "Informational Cascades with Endogenous Prices - The Role of Risk Aversion", Journal of Mathematical Economics, vol. 42, n. 1, 2006, p. 109-120.

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• Christian Gollier and Edward Schlee, "Increased Risk-Bearing with Background Risk", Topics in Theoretical Economics, vol. 6, n. 1, 2006.

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• Cornelia Holthausen and Jean-Charles Rochet, "Efficient Pricing of Large Value Interbank Payment Systems", Journal of Money, Credit and Banking, vol. 38, n. 7, 2006, p. 1797-1818.

• Nour Meddahi, Eric Renault and Bas Werker, "GARCH and Irregularly Spaced Data", Economics Letters, vol. 90, n. 2, Elsevier, February 2006, p. 200-204. doi:10.1016/j.econlet.2005.07.027.

• Guillaume Plantin, "Does Reinsurance Need Reinsurers?", Journal of Risk and Insurance, vol. 73, n. 1, March 2006, p. 153-168. doi:10.1111/j.1539-6975.2006.00169.x.

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• Antoine Bommier and Jean-Charles Rochet, "Risk Aversion and Planning Horizon", Journal of the European Economic Association, vol. 4, n. 4, June 2006, p. 708-734. doi:10.1162/JEEA.2006.4.4.708.

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• Jean-Paul Décamps, Thomas Mariotti and Stéphane Villeneuve, "Irreversible Investment in Alternative Projects", Economic Theory, vol. 28, n. 2, Springer Berlin / Heidelberg, June 2006, p. 425-448. doi:10.1007/s00199-005-0629-2.

• Jean-Paul Décamps and Stefano Lovo, "A Note on Risk Aversion and Herd Behavior in Financial Markets", The Geneva Risk and Insurance Review, vol. 31, n. 1, July 2006, p. 35-42.

• Erik Ekstrom and Stéphane Villeneuve, "On the Value of Optimal Stopping Games", Annals of Applied Probability, vol. 16, n. 3, August 2006, p. 1576-1596.

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• Bruno Jullien and Thomas Mariotti, "Auction and the Informed Seller Problem", Games and Economic Behavior, vol. 56, n. 2, August 2006, p. 225-258. doi:10.1016/j.geb.2005.08.008.

• Christian Gollier, "Psychologie et économie du risque: Vers de nouveaux paradigmes de comportement face au risque?", Risques - Les Cahiers de l'Assurance, n. 67, December 2006, p. 71-75.

2007

• Andrea Attar and Eloisa Campioni, "Credit Cycles in a Neo-Austrian Economy", Structural Change and Economic Dynamics, vol. 18, n. 2, 2007, p. 249-269.
• Catherine Casamatta and Carole Haritchabalet, "Experience, Screening and Syndication in Venture Capital Investments", Journal of Financial Intermediation, vol. 16, 2007, p. 368-398.
• Jean-Paul Décamps and Bertrand Djembissi, "Switching to a Poor Business Activity: Optimal Capital Structure, Agency Costs and Convenant Rules", Annals of Finance, vol. 3, n. 3, 2007, p. 389-409.
• Jean-Paul Décamps and Stéphane Villeneuve, "Optimal Dividend Policy and Growth Option", Finance and Stochastics, vol. 11, 2007, p. 3-27.

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• Thierry Foucault, Sophie Moinas and Erik Theissen, "Does Anonymity Matter in Electronic Limit Order Markets?", The Review of Financial Studies, vol. 20, n. 5, 2007, p. 1707-1747.

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• Christian Gollier, "Comment intégrer le risque dans le calcul économique?", Revue d'Économie Politique, vol. 117, n. 2, 2007, p. 209-223.
• Christian Gollier, "La finance durable du rapport Stern", Revue d'Économie Politique, vol. 117, n. 4, 2007, p. 467-477.

• Erzo G.J. Luttmer and Thomas Mariotti, "Efficiency and Equilibrium when Preferences are Time-Inconsistent", Journal of Economic Theory, vol. 132, n. 1, January 2007, p. 493-506. doi:10.1016/j.jet.2005.07.004.

• Christian Gollier, "Effet de serre : vers une vérité actuarielle", Risques - Les Cahiers de l'Assurance, vol. 69, March 2007, p. 54-59.
• Stéphane Villeneuve, "On the Threshold Strategies ans Smooth-Fit Principle for Optimal Stopping Problems", Journal of Applied Probability, vol. 44, n. 1, March 2007, p. 181-198.

• Bruno Biais, Thomas Mariotti, Guillaume Plantin and Jean-Charles Rochet, "Dynamic Security Design: Convergence to Continuous Time and Asset Pricing Implications", The Review of Economic Studies, vol. 74, n. 2, April 2007, p. 345-390. doi:10.1111/j.1467-937X.2007.00425.x.
• Christian Gollier and Jean-Louis Nakamura, "Investisseurs socialement responsables : quelle rationalité pour quelles perspectives ?", Les Cahiers Français, n. 337, April 2007, p. 90-97.

• N. Aktas, E. de Bodt, Fany Declerck and H. Van Oppens, "PIN anomaly around M&A announcements", Journal of Financial Markets, vol. 10, n. 2, May 2007, p. 169-191.
• Andrea Attar, Gwenaël Piaser and Nicolas Porteiro, "A Note on Common Agency Models of Moral Hazard", Economics Letters, vol. 95, n. 2, Elsevier, May 2007, p. 278-284. doi:10.1016/j.econlet.2006.10.021.

  [ Final Version_Working Paper ]
• Markus K. Brunnermeier, Christian Gollier and Jonathan A. Parker, "Optimal Beliefs, Asset Prices, and the Preference for Skewed Returns", American Economic Review, vol. 97, n. 2, May 2007, p. 159-165.

• Andrea Attar, Gwenaël Piaser and Nicolas Porteiro, "Negotiation and Take-it or Leave-it offers with Non-Contractible Actions", Journal of Economic Theory, vol. 135, n. 1, July 2007, p. 590-593. doi:10.1016/j.jet.2006.02.006.

  [ Final Version_Working Paper ]
• Christian Gollier, "The Consumption-Based Determinants of the Term Structure of Discount Rates", Mathematics and Financial Economics, vol. 1, n. 2, July 2007, p. 81-101. doi:10.1007/s11579-007-0004-0.

• Sébastien Pouget, "Financial Market Design and Traders’ Bounded Rationality: An Experiment", Journal of Financial Markets, vol. 10, n. 3, August 2007.

• Pierre-Olivier Weill (UCLA), "Crashes and recoveries in illiquid markets", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 10, 2007.

  [ Full text ]

• Thierry Foucault (HEC), "Insiders-Outsiders, Market Transparency and the Value of the Ticker", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, September 24, 2007.
• Thierry Foucault (HEC), "Insiders-Outsiders, Transparency, and the Value of the Ticker", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 24, 2007.

  [ Full text ]

• Ulf Axelson (Stockholm School of Economics), "Liquidity and Manipulation of Executive Compensation Schemes", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 25, 2007.

• Bruno Biais, "Transparence des marchés, conflits d'intérêt et crise financière", Esprit, October 2007, p. 6-13.
• Christian Gollier, "Whom Should We Believe? Aggregation and Heterogeneous Beliefs", Journal of Risk and Uncertainty, vol. 35, n. 2, October 2007, p. 107-127.

• François Ortalo-Magné (UW-Madison), "Cities as Assets", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 1, 2007.
• François Ortalo-Magné (University of Wisconsin), "Spatial Asset Pricing: a First Step", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 1, 2007.

• Bruno Biais, "La bourse et les marchés financiers", Tangente, Hors série n°32, November 2007.

• Stefano Lovo (HEC), "On the Information Content of the Order Flow: an Experiment", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, November 26, 2007.

• Bruno Biais, "Entreprises et marchés: pourquoi des incitations plutôt que des contrôles", Esprit, December 2007, p. 227-230.
• Sébastien Pouget, "Adaptive Traders and the Design of Financial Markets", The Journal of Finance, vol. 62, n. 6, December 2007, p. 2835-2863.

  [ Full text ]

• Alexander Guembel (Oxford), "Managerial legacies, entrenchment and strategy inertia", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, December 3, 2007.

  [ Full text ]

• Sébastien Michenaud (HEC), "Corporate Investment and Analyst Pressure", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, December 10, 2007.

  [ Full text ]

• Thomas Philippon (NYU), "Why has the financial sector grown so much?", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, December 18, 2007.

2008

• Christian Gollier, "Liquidité, incertitude et crise", Revue d'économie financière, Hors série, 2008, p. 12-133.

  [ Web Page ]
• Augustin Landier, "Les Nouvelles Frontières de la Gouvernance du Risque", Risques - Les Cahiers de l'Assurance, n. 78, 2008.

• Itay Goldstein and Alexander Guembel, "Manipulation and the Allocational Role of Prices", The Review of Economic Studies, vol. 75, n. 1, January 2008, p. 133-164.
• Christian Gollier, "Assets Relative Risk for Long-Term Investors", Life & Pensions, n. 1, January 2008.
• Silvia Goncalves and Nour Meddahi, "Edgeworth Corrections for Realized Volatility", Econometric Reviews, vol. 27, n. 1, January 2008, p. 139-162. doi:10.1080/07474930701870420.
• Sophie Moinas, "Le Carnet d’Ordres : une revue de littérature", Finance, vol. 29, n. 1, January 2008, p. 81-147.

  [ Pre-Print ]

• Matthieu Bouvard (TSE), "Real option financing under asymmetric information", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, January 21, 2008.

• Elena Asparouhova (University of Utah), "Inference from Streaks in Random Outcomes: Experimental Evidence on Beliefs in Regime-Shifting and the Law of Small Numbers", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, January 28, 2008.

• Bruno Biais, "La Banque Centrale Européenne est-elle trop indépendante?", Esprit, February 2008.
• Xavier Gabaix and Augustin Landier, "Why Has CEO Pay Increased So Much?", The Quarterly Journal of Economics, vol. 123, n. 1, February 2008, p. 49-100. doi:10.1162/qjec.2008.123.1.49.

  [ Final Version_Working Paper | Abstract ]

• Albert J. Menkveld (Vrije UNiversiteit Amsterdam), "Does Algorithmic Trading Improve Liquidity?", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, February 4, 2008.
• Albert J. Menkveld (Tinbergen Institute), "Does Algorithmic Trading Improve Liquidity?", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, February 4, 2008.

  [ Full text ]

• Roberta Dessi, "Collective Memory, Cultural Transmission and Investments", American Economic Review, vol. 98, n. 1, March 2008, p. 534-560.

  [ Full text ]
• Jean-Charles Rochet, "Fermez les banques ruinées!", L'Expansion, n. 728, March 2008.

  [ Full text ]

• Gian Luca Clementi (NYU), "Asset Pricing in a Production Economy with Chew-Dekel Preferences", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 17, 2008.

• Darrell Duffie (Stanford University), "Simulating Correlated Defaults", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 31, 2008.

• Christian Gollier, "Understanding Saving and Portfolio Choices with Predictable Changes in Asset Returns", Journal of Mathematical Economics, vol. 44, n. 4/6, April 2008, p. 445-458. doi:10.1016/j.jmateco.2007.10.006.

• Jean-Charles Rochet, "En finance, pile je gagne, face tu perds", La Tribune, April 29, 2008.

• Bruno Biais, "Les scandales financiers: Aléa moral ou problème éthique?", Esprit, May 2008.
• Christian Gollier, "Non à une régulation court-termiste!", Revue Banque, n. 259, May 2008, p. 13-14.
• Pham Huyen, Ly Vath Vathana and Stéphane Villeneuve, "A Mixed Singular/Switching Control Problem for a Dividend Policy with Reversible Technology Investment", Annals of Applied Probability, vol. 18, n. 3, May 2008, p. 1164-1200.

  [ Final Version_Working Paper ]
• Guillaume Plantin, Haresh Sapra and Huyn Shin, "Marking to Market: Panacea or Pandora's Box", Journal of Accounting Research, vol. 46, n. 2, May 2008, p. 435-460. doi:10.1111/j.1475-679X.2008.00281.x.

  [ Final Version_Working Paper ]

• Chris Rogers (Cambridge University), "A Simple Model of Liquidity Effects", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 5, 2008.

• Tano Santos (Columbia), "Inside and Outside Liquidity", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 14, 2008.

• Hank Bessembinder (University of Utah), "Hidden Liquidity:an Analysis of Order Submission Strategies in Automated Markets", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 16, 2008.

• Arnaud Sourisse (Caltech), "On Managerial risk-taking Incentives when Compensation may be hedged against", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 19, 2008.

• Andrea Attar, Dipjyoti Majumdar, Gwenaël Piaser and Nicolas Porteiro, "Common Agency Games: Separable Preferences and Indifference", Mathematical Social Sciences, vol. 56, n. 1, June 2008, p. 75-95.
• Bruno Biais, "Beyond the crisis: Research-side view of the financial crisis", Revue Banque, Numéro spécial IOSCO, June 2008.
• Christian Gollier, "Intergenerational Risk-Sharing and Risk-Taking of a Pension Fund", Journal of Public Economics, vol. 92, n. 5-6, June 2008, p. 1463-1485. doi:10.1016/j.jpubeco.2007.07.008.
• Augustin Landier and Vinay Nair, "Investissement Socialement Responsable: une Approche Efficace et Rentable", En Temps Réel, n. 34, June 2008.

  [ Full text ]
• Christine Parlour and Guillaume Plantin, "Loan Sales and Relationship Banking", The Journal of Finance, vol. 63, n. 3, June 2008, p. 1291-1314. doi:10.1111/j.1540-6261.2008.01358.x.

  [ Full text ]

• Viral Acharya (London Business School), "Moral Hazard, Collateral and Liquidity", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 10, 2008.

• Catherine Bobtcheff, Christian Gollier and Richard Zeckhauser, "Resource Allocations when Projects have Ranges of Increasing Returns", Journal of Risk and Uncertainty, vol. 37, n. 1, September 2008, p. 1-33. doi:10.1007/s11166-008-9044-y.

  [ Papers ]

• John Campbell (Harvard), "Fight or Flight? Portfolio Rebalancing by Individual Investors", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 17, 2008.

• Patrice Fontaine (Université de Grenoble), "Information Precision,Noise, and the Cross-Section of Stock Returns", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, September 22, 2008.

• Patrick Bolton (Columbia), "Leadership, Coordination and Mission-Driven Management", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 29, 2008.

• Christian Gollier, Phoebe Koundouri and Theologos Pantelidis, "Declining Discount Rates: Economic Justifications and Implications for Long-Run Policy", Economic Policy, vol. 23, n. 56, October 2008, p. 757-795.

  [ Abstract ]

• François Derrien (HEC), "Auctioned IPOs: the US Experience", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 6, 2008.

• Giorgio Valente (Leicester University), "Market Liquidity and FX Arbitrage: Evidence from Hong Kong Data", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 13, 2008.
• Giorgio Valente (Leicester University), "FX Arbitrage and Market Liquidity", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, October 13, 2008.

• Alexander Guembel (TSE et Saïd Business School (Oxford)), "Spéculation à la baisse: faut-il interdire totalement les ventes à découvert ?", La Tribune, October 15, 2008.

• First Workshop of the Paul Woolley Research Initiative, Toulouse, France, October 20, 2008.

  Organized by Bruno Biais.

  [ Program ]

• Christopher Hennessy (LBS), "Repeated Signaling and Firm Dynamics", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, November 10, 2008.

• Laurence Lescourret (ESSEC), "Liquidity Supply in Multiple Markets", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, November 24, 2008.

• Bruno Biais and Enrico Perotti, "Entrepreneurs and New Ideas", The RAND Journal of Economics, vol. 39, n. 4, Winter 2008, p. 1105-1125. doi:10.1111/j.1756-2171.2008.00052.x.
• Christian Gollier, "Discounting with Fat-Tailed Economic Growth", Journal of Risk and Uncertainty, vol. 37, n. 2, December 2008, p. 171-186.

  [ Restricted access ]

• Annette Vissing-Jorgensen (Northwestern University), "Who Bears Aggregate Risk and How?", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, December 3, 2008.

• Thomas-Olivier Léautier (TSE), "Risk Management and Product Market Competition", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, December 15, 2008.

2009

• Silvia Goncalves and Nour Meddahi, "Bootstrapping Realized Volatility", Econometrica, vol. 77, n. 1, January 2009, p. 283-306. doi:10.3982/ECTA5971.

  [ Full text ]
• Augustin Landier and David Thesmar, "Financial Contracting with Optimistic Entrepreneurs: Theory and Evidence", The Review of Financial Studies, vol. 22, n. 1, January 2009, p. 117-150. doi:10.1093/rfs/hhn065.
• Guillaume Plantin, "Learning by Holding and Liquidity", The Review of Economic Studies, vol. 76, n. 1, January 2009, p. 395-412. doi:10.1111/j.1467-937X.2008.00526.x.

  [ Full text ]

• Jean-Charles Rochet, "Un superviseur indépendant pour réguler les banques", L'Agefi Hebdo, January 29 - February 4, 2009.

• Jean-Paul Décamps, Thomas Mariotti and Stéphane Villeneuve, "Investment Timing Under Incomplete Information: Erratum", Mathematics of Operations Research, vol. 34, n. 1, February 2009, p. 255-256.

• Han Ozsoylev (Oxford University), "Amplification and Asymmetry in Crashes and Frenzies", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, February 23, 2009.

• Augustin Landier, Vinay Nair and Julie Wulf, "Trade-offs in Staying Close: Corporate Decision Making and Geographic Dispersion", The Review of Financial Studies, vol. 22, n. 3, March 2009, p. 1119-1148. doi:10.1093/rfs/hhm042.

• Mikhaël Chernov (LBS), "The Term Structure of Inflation Expectations", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 2, 2009.

• Carsten Bienz (Norwegian School of Economics and Business Administration), "Evolution of Decision and Control Rights in Venture Capital Contracts", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 9, 2009.

• Xavier Gabaix (NYU), "Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 11, 2009.

• Peter Tankov (Polytechnique), "A coupled system of integrodifferential equations arising in liquidity risk model", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 16, 2009.

• Amil Dasgupta (London School of Economics), "The Price Impact of Institutional Herding", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 23, 2009.
• Amil Dasgupta (London School of Economics), "The Price Impact of Institutional Herding", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 23, 2009.
• Jean-Charles Rochet, "La crise est l'occasion de créer des institutions de contrôle des banques plus efficaces", La Gazette du Midi, March 23-29, 2009.

• First FBF / IDEI-R Conference on Investment Banking and Financial Markets, Toulouse, France, March 26-27, 2009.

  Organized by Bruno Biais and Fany Declerck.

  [ Call for papers | Program | List of Communications | Toulouse Map | Metro Map | Location of hotels | Local Information ]

• David Thesmar (HEC), "The Collateral Channel: How Real Estate Shocks Affect Corporate Investment", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, April 20, 2009.

• Augustin Landier, David Sraer and David Thesmar, "Financial Risk Management: When Does Independence Fail?", American Economic Review, vol. 99, n. 2, May 2009, p. 454-458. doi:10.1257/aer.99.2.454.

  [ Final Version_Working Paper ]

• Henri Pages (Banque de France), "Bank Monitoring Incentives and Optimal CDOs", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 4, 2009.

• Dimitrios Tsomocos (Saïd Business School, St. Edmund Hall, Oxford), "International Monetary Equilibrium with Default", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 11, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Financial Econometrics Conference, Manufacture des Tabacs, Toulouse, France, May 15-16, 2009.

  Organized by Nour Meddahi.

  [ Program | List of Speakers | List of Communications | Map | List of participants | Welcome to Toulouse | Local Information | Conference Venue | Location of Hotels ]

• Adriano Rampini (Duke University), "Collateral and Capital Structure", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 18, 2009, 12:30-14:00, room MC 201.

  [ Full text ]

• Johan Hombert (ENSAE-CREST), "Optimal Financial Structure and Asset Prices", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 25, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Conference of the Chair FDIR "Socially Responsible Investments and Value Creation", May 28-29, 2009.

  Organized by Sébastien Pouget.

  [ Program | List of Communications | Local information | Toulouse map | Metro map | Location of Hotels ]

• Bruno Biais and Martin Weber, "Hindsight Bias, Risk Perception and Investment Performance", Management Science, vol. 55, n. 6, June 2009, p. 1018-1029.

  [ Full text ]
• Christian Gollier, "Should we Discount the Far-Distant Future at its Lowest Possible Rate?", Economics: The Open-Access, Open-Assessment E-Journal, vol. 3, n. 2009-25, June 2009.

  [ Full text ]
• Augustin Landier and Kenichi Ueda, "The Economics of Bank Restructuring: Understanding the Options", IMF Staff Position Note, June 2009.

  [ Full text ]

• Mark Van Achter (University of Bonn and H.U. Brussel), "A Dynamic Limit Order Market with Diversity in Trading Horizons", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 8, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Ivar Ekeland (University of British Columbia), "TBA", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 15, 2009, 12:30-14:00, room MF 323.

• Jean-Paul Azam, Robert H. Bates and Bruno Biais, "Political Predation and Economic Development", Economics & Politics, vol. 21, n. 2, July 2009, p. 255-277.

  [ Full text ]
• Jérôme Mathis, James J. Mcandrews and Jean-Charles Rochet, "Rating the Raters: Are Reputation Concerns Powerful enough to Discipline Rating Agencies?", Journal of Monetary Economics, vol. 56, n. 5, July 2009, p. 657-674. doi:10.1016/j.jmoneco.2009.04.004.

• Silvia Rossetto and Jos Van Bommel, "Endless Leverage Certificates", Journal of Banking and Finance, vol. 33, n. 8, August 2009, p. 1543-1553. doi:10.1016/j.jbankfin.2009.03.006.

• Andrea Attar and Arnold Chassagnon, "On Moral Hazard and Non-Exclusive Contracts", Journal of Mathematical Economics, vol. 45, n. 9-10, September 2009, p. 511-525. doi:10.1016/j.jmateco.2008.09.007.
• Bruno Biais and Thomas Mariotti, "Credit, Wages, and Bankruptcy Laws", Journal of the European Economic Association, vol. 7, n. 5, September 2009, p. 939-973.
• Jean-Charles Rochet, "Regulating Systemic Institutions", Finnish Economic Papers, vol. 22, n. 2, Autumn 2009, p. 35-46.

  [ Full text ]

• First IDEI-SCOR Conference on "Risk Sharing and Finance", Toulouse, France, September 10-11, 2009.

  Organized by Stéphane Villeneuve.

  Participants: Patrick Rey.

  [ Program | List of Communications | Map | Welcome to Toulouse | Local Information | Location of Hotels ]

• Sébastien Pouget (University of Toulouse (IAE and Toulouse School of Economics)), "Rational and Irrational Bubbles: An Experiment", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 21, 2009, 12:30-14:00, room MC 201.

  [ Full text ]

• Alexander Guembel and Oren Sussman, "Sovereign Debt without Default Penalties", The Review of Economic Studies, vol. 76, n. 4, October 2009, p. 1297-1320. doi:10.1111/j.1467-937X.2009.00542.x.

  [ Full text | Final Version_Working Paper ]

• Doh-Shin Jeon (Toulouse School of Economics), "Natural Barrier to Entry in Credit Rating Industry", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, October 5, 2009, 12:30-14:00, room MF 323.

• Nicolae Garleanu (Berkeley), "Margin-Based Asset Pricing and Deviations from the Law of One Price", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 12, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Renaud Bourles (Université de la Méditérranée), "Cash reserve policy, regulation and credibility in insurance", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, October 19, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Alexander Guembel and Silvia Rossetto, "Reputational Cheap Talk with Misunderstanding", Games and Economic Behavior, vol. 67, n. 2, November 2009, p. 736-744. doi:10.1016/j.geb.2009.03.001.

  [ Final Version_Working Paper ]

• Andrea L. Eisfeldt (Northwestern University, Kellogg School of Management), "Organization Capital and the Cross-Section of Expected Returns", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, November 16, 2009, 12:30-14:00, room MC 201.

  [ Full text ]

• Denis Gromb (INSEAD and CEPR), "Financially Constrained Arbitrage and Cross-Market Contagion", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, November 23, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Marcin Kacperczyk (Department of Finance Stern School of Business and NBER, New York University), "Attention Allocation Over the Business Cycle", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, November 30, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

• Alex Edmans, Xavier Gabaix and Augustin Landier, "A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium", The Review of Financial Studies, vol. 22, n. 12, December 2009, p. 4881-4917. doi:10.1093/rfs/hhn117.
• Augustin Landier, "Le risque d'inflation, un Black Swan sur nos radars?", Risques - Les Cahiers de l'Assurance, n. 80, December 2009.

• Alex Edmans (Wharton), "Dynamic Incentive Accounts", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, December 14, 2009, 12:30-14:00, room MF 323.

  [ Full text ]

2010

• Bruno Biais, Peter Bossaerts and Chester Spatt, "Equilibrium Asset Pricing And Portfolio Choice Under Asymmetric Information", The Review of Financial Studies, vol. 23, n. 4, 2010, p. 1503-1543. doi:10.1093/rfs/hhp113.

  [ Full text ]
• Augustin Landier and Kenichi Ueda, The Taxpayer Burden of Bank Restructurings, 2010.

• Bruno Biais, Thomas Mariotti, Jean-Charles Rochet and Stéphane Villeneuve, "Large Risks, Limited Liability, and Dynamic Moral Hazard", Econometrica, vol. 78, n. 1, January 2010, p. 73-118. doi:10.3982/ECTA7261.

• Christian Gollier, "Expected Net Present Value, Expected Net Future Value, and the Ramsey Rule", Journal of Environmental Economics and Management, vol. 59, n. 2, March 2010, p. 142-148. doi:10.1016/j.jeem.2009.11.003.

  [ Final Version_Working Paper ]
• Sophie Moinas, "Hidden Limit Orders and Liquidity in Order Driven Markets", IDEI Working Paper, n. 600, March 2010.

  [ Full text ]

• Charles Noussair (Tilburg University), "The impact of asset repurchases and issues in an experimental market", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 1, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

• Ioanid Rosu (University of Chicago), "Liquidity and Information in Order Driven Markets", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 8, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

• Christine Parlour (UC Berkeley), "To be announced", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 15, 2010, 12:30-14:00, room MF 323.

• Second Workshop of the Paul Woolley Research Initiative, Toulouse, France, March 17-18, 2010.

  Organized by Andrea Attar and Bruno Biais.

  [ Program | Map | Transportation ]

• Integration of Extremal Events in Quantitative Risk Management, La Tour SCOR- La Défense, Paris, France, March 19, 2010.

  Organized by Stéphane Villeneuve.

  [ Program | Map ]

• Harrison Hong (University of Princeton), "To be announced", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 22, 2010, 12:30-14:00, room MF 323.

• Pierre-Olivier Weill (UCLA), "To be announced", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 26, 2010, 12:30-14:00, room MF 323.

• Jayant Kale (Georgia State University), "Incentives in Managerial Pay and Voluntary Turnover", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, April 8, 2010, 16:15-17:45, room MD 301.

  [ Full text ]

• Conference on the Political Economy of the Financial Crisis, Toulouse, France, April 9, 2010.

  Organized by Luc Laeven (IMF) and Augustin Landier (TSE).

  [ Program | List of Communications | Map of Manufacture des Tabacs | List of participants | Local Information | Conference Venue ]

• Johan Walden (UC Berkeley), "Revisiting Asset Pricing Anomalies in an Exchange Economy", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, April 26, 2010, 12:30-14:00, room MF 323.

• David Bardey and Jean-Charles Rochet, "Competition among Health Plans: A Two-Sided Market Approach", Journal of Economics and Management Strategy, vol. 19, n. 2, May 2010, p. 435-451. doi:10.1111/j.1530-9134.2010.00257.x.
• Christian Gollier, "Debating about the Discount Rate: The Basic Economic Ingredients", Perspektiven der Wirtschaftspolitik, vol. 11, n. 1, Blackwell Publishing Ltd, May 2010, p. 38-55. doi:10.1111/j.1468-2516.2010.00327.x.
• Doh-Shin Jeon and Jean-Charles Rochet, "The Pricing of Academic Journals: A Two-Sided Market Perspective", American Economic Journal: Microeconomics, vol. 2, n. 2, May 2010, p. 222-255. doi:10.1257/mic.2.2.222.

  [ Full text ]

• Elu Von Thadden (University of Mannheim), "Repo Runs", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 3, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

• Enrico Perotti (University of Amsterdam), "The Circulation of Ideas in Firms and Markets", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 17, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

• David Skeie (Federal Reserve Bank of New York), "Bank liquidity, interbank markets,and monetary policy", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 31, 2010, 12:30-14:00, room MC 203.

  [ Full text ]

• Christian Gollier and Martin L. Weitzman, "How Should the Distant Future be Discounted When Discount Rates are Uncertain?", Economics Letters, vol. 107, n. 3, Elsevier, June 2010, p. 350-353. doi:10.1016/j.econlet.2010.03.001.

• Solvabilité 2: faut-il moduler l'évaluation des risques des différentes classes d'actifs en fonction de la durée du passif? : Atelier-conférence organisée conjointement par la SCOR, l’IDEI et l’ILB, Palais Brongniart, Paris, France, June 1, 2010.

  Organized by Stéphane Villeneuve.

  [ Program ]

• Ilya Strabulaev (Stanford University), "Empirical Corporate Finance in a Dynamic World", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 7, 2010, 12:30-14:00, room MC 204.

  [ Full text ]

• Marina Halac (Columbia University), "Relationship Building", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 21, 2010, 15:00-16:15, room MF 323.

  [ Full text ]

• Christian Gollier and Alexander Muermann, "Optimal Choice and Beliefs with Ex Ante Savoring and Ex Post Disappointment", Management Science, vol. 56, n. 8, August 2010, p. 1272-1284. doi:10.1287/mnsc.1100.1185.

  [ Access to final version ]

• Markus K. Brunnermeier (University of Princeton), "The I-Theory of Money", Political Economy/Finance Seminar, TSE, Toulouse, September 27, 2010, 17:00-18:30, room MH 203.

• Catherine Casamatta and Alexander Guembel, "Irremplaçables PDG?", L'Expansion, October 2010.

  [ Full text ]

• Ulf Axelson (LSE), "Investment banking careers: An equilibrium theory of overpaid jobs", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 4, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

• Aj Bostian (University of Virginia), "Decomposing the Effects of Beliefs and Risk Attitudes during Asset Bubbles using Laboratory Data", Internal Finance Workshop, TSE, Toulouse, October 11, 2010, 12:30-14:00, room MF 323.

• Bruno Biais, Transactions algorithmiques sur les marchés financiers, Toulouse, France, October 14, 2010.

  Organized by Bruno Biais.

  [ Program ]

• Ernesto Pasten (TSE-GREMAQ), "Collective Moral Hazard, Liquidity Evaporation and Time-Consistent Bailouts", Internal Finance Workshop, TSE, Toulouse, October 18, 2010, 12:30-14:00, room MF 323.

• Catherine Casamatta and Alexander Guembel, "Mauvaises performances: licencier, la fausse bonne idée", Objectif News, November 2010.

• Nobuhiro Kiyotaki (University of Princeton), "Financial Intermediation and Credit Policy in Business Cycle Analysis", Finance/Economic Theory Seminar, TSE, Toulouse, November 8, 2010, 12:30-14:00, room MD 001.

  [ Full text ]

• Nizar Touzi (Ecole Polytechnique), "Model independent bounds for option pricing: a stochastic control aproach", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, November 15, 2010, 12:30-14:00, room MF 323.

• Frédéric Cherbonnier (TSE), "Optimal insurance with time-inconsistent agents and hidden storage", Internal Finance Workshop, TSE, Toulouse, November 29, 2010, 12:30-14:00, room MF 323.

• Bruno Biais, Christophe Bisière and Chester Spatt, "Imperfect Competition in Financial Markets: An Empirical Study of Island and Nasdaq", Management Science, vol. 56, n. 12, December 2010, p. 2237-2250. doi:10.1287/mnsc.1100.1243.
• Catherine Casamatta and Alexander Guembel, "Managerial Legacies, Entrenchment and Strategy Inertia", The Journal of Finance, vol. 65, n. 6, December 2010, p. 2403-2436.

• Augustin Landier (TSE), "Going for Broke : NewCentury Financial Corporation (2004-2006)", Internal Finance Workshop, TSE, Toulouse, December 6, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

• Arvind Krishnamurthy (Kellogg School University), "The Aggregate Demand for Treasury Debt", Political Economy/Finance Seminar, TSE, Toulouse, December 13, 2010, 12:30-14:00, room MF 323.

  [ Full text ]

2011

• Marco Bonomo, René Garcia, Nour Meddahi and Roméo Tédongap, "Generalized Disappointment Aversion, Long Run Volatility Risk and Asset Prices", The Review of Financial Studies, vol. 24, n. 1, 2011, p. 82-122. doi:10.1093/rfs/hhq116.
• Christophe Courbage, B. Rey and Nicolas Treich, "Prevention and Precaution", in The Handbook of Insurance, chapter 1, 2011.
• Magueye Dia and Sébastien Pouget, "Sunshine trading in an African stock market", Managerial Finance, vol. 37, n. 3, 2011, p. 257-274. doi:10.1108/03074351111113315.
• Christian Gollier and Edward Schlee, "Information and the Equity Premium", Journal of the European Economic Association, vol. 9, n. 5, 2011, p. 871-902.

  [ Access to final version ]
• James K. Hammitt, Jin-Tan Liu and W-J Tsai, "Aggregation Biases in Estimates of the Value of a Statistical Life: Evidence from Logitudianl Matched Worker-Firm Data in Tawain", Environmental and Resource Economics, vol. 49, n. 3, Springer Netherlands, 2011, p. 425-449. doi:10.1007/s10640-010-9440-z.
• Jean-Charles Rochet and Stéphane Villeneuve, "Liquidity Management and Corporate Demand for Hedging and Insurance", Journal of Financial Intermediation, vol. 3, 2011, p. 300-323.

• Torben G. Andersen, Tim Bollerslev and Nour Meddahi, "Realized Volatility Forecasting and Market Microstructure Noise", Journal of Econometrics, vol. 160, n. 1, January 2011, p. 220-234. doi:10.1016/j.jeconom.2010.03.032.

• John Thanassoulis (University of Oxford -Visiting TSE), "Bankers' Pay Structure and Risk", Internal Finance Workshop, TSE, Toulouse, February 21, 2011, 12:30-14:00, room MF 323.

• Christian Gollier, "Does Ambiguity Aversion Reinforce Risk Aversion? Applications to Portfolio Choices and Asset Pricing", The Review of Economic Studies, vol. 78, n. 4, March 2011, p. 1329-1344.

• Suresh Sundaresan (University of Columbia), "Design of Contingent Capital with Stock Price Trigger for Conversion", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 14, 2011, 12:30-14:00, room MF 323.

  [ Full text | Slides ]

• Laurent Fresard (HEC), "Cross-Listing, Investment Sensitivity to Stock Price and the Learning Hypothesis", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 21, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Guillaume Plantin (TSE-GREMAQ), "Inequality, Tax Avoidance, and Financial Instability", Internal Finance Workshop, TSE, Toulouse, March 28, 2011, 12:30-14:00, room MF 323.

• Third Workshop of the Paul Woolley Research Initiative, Toulouse, France, March 29-30, 2011.

  Organized by Andrea Attar and Bruno Biais.

  Participants: Catherine Casamatta.

  [ Program | List of Communications | Map | Local Information ]

• Thomas-Olivier Léautier (TSE, IAE, CRM, UT1-Capitole), "Dynamic risk management in the presence of convex capital costs: optimal dividend distribution, investment, and hedging policies", Internal Finance Workshop, TSE, Toulouse, April 4, 2011, 12:30-14:00, room MF 323.

• Risk Management after the Crisis, Toulouse, France, April 6-7, 2011.

  Organized by Bruno Biais, Jean-Charles Rochet and Stéphane Villeneuve.

  Participants: Alexander Guembel.

  [ Preliminary program | List of Communications | Map | Conference Venue ]

• Vicente Cunat (London School of Economics), "The Vote is Cast: The Effect of Corporate Governance on Shareholder Value", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, April 11, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Alan Morrisson (University of Oxford), "To be announced", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, April 18, 2011, 12:30-14:00, room MF 323.

• Ulrich Hege (HEC Paris), "How does Private Equity Bid in Corporate Asset Sales?", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 9, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Uday Rajan (University of Michigan), "Competition, Quality and Managerial Slack", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 16, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Christophe Chamley (Paris School of Economics), "Demand Creates its Own Supply", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 23, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Guillaume Plantin, "Il faut renforcer les autorités de régulation, notamment aux Etats-Unis", Le Monde, May 24, 2011.

  [ Full text ]

• Bruno Biais, "Les dangers de la restructuration", L'Expansion, n. 764, June 2011.

• Philip Bond (University of Minnesota), "Commitment contracts", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, June 6, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Sarah Baird (University of Georges Washington), "To be announced", Development Economics Seminar, TSE, Toulouse, June 9, 2011, 11:00-12:30, room MF 323.

• Augustin Landier, "Embaucher les meilleurs et les payer plus", Libération, June 21, 2011.

• Christian Gollier, "Discounting and risk adjusting non-marginal investment projects", European Review of Agricultural Economics, vol. 38, n. 3, August 2011, p. 325-334. doi:10.1093/erae/jbr028.
• Augustin Landier, David Sraer and David Thesmar, "The risk-Shifting Hypothesis", IDEI Working Paper, n. 699, August 2011.

  [ Full text ]

• Sophie Moinas, "MTF: leur concurrence a fait évoluer le business model des Bourses", Revue Banque, August 30, 2011.

  [ Web Page ]

• Bruno Biais, "Le système bancaire, maillon faible de l'euro", Les Echos, August 31, 2011.

  [ Full text ]

• Will Goetzmann (Yale University), "New Evidence on the First Financial Bubble", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, September 5, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Augustin Landier and David Thesmar, "Un fonds européen pour recapitaliser les banques", Les Echos, September 7, 2011.

  [ Full text ]

• Ilan Kremer (Stanford University), "The Optimal Design of Insurance Schemes for Preventing Liquidity Runs", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, September 12, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Fany Declerck, "A quand la transparence sur les marchés obligataires?", Le Monde, September 19, 2011.

  [ Full text ]

• Augustin Landier and David Thesmar, "Une seule solution, la recapitalisation des banques", Le Monde, September 27, 2011.

  [ Full text ]

• Augustin Landier and Guillaume Plantin, Contraintes prudentielles et coût du financement bancaire, Toulouse, France, September 29, 2011.

  Organized by Sophie Moinas.

  [ Program ]

• Jean-Paul Décamps, Thomas Mariotti, Jean-Charles Rochet and Stéphane Villeneuve, "Free Cash Flow, Issuance Costs, and Stock Prices", The Journal of Finance, vol. 66, n. 5, October 2011, p. 1501-1544. doi:10.1111/j.1540-6261.2011.01680.x.
• Augustin Landier and Guillaume Plantin, "Inequality, tax avoidance and financial instability", IDEI Working Paper, n. 701, October 2011.

  [ Full text ]

• Alexander Ljungqvist (University of New York), "Comparing the Investment Behavior of Public and Private Firms", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 10, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Augustin Landier and David Thesmar, "Recapitalisation des banques, mode d'emploi", Les Echos, October 12, 2011.

  [ Full text ]

• Martin Weber (University of Manheim), "Investors care about risk, but can't cope with volatility", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 17, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Sophie Moinas, "Finance: Attention, transactions éclairs", L'Expansion, n. 768, November 2011.

  [ Full text ]

• Patrick Bolton (Columbia and IAST), "Should Derivatives be Privileged in Bankruptcy?", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, November 14, 2011, 12:30-13:45, room MF 323.

  [ Full text | Slides ]

• Jianjun Miao (University of Boston), "Bubbles and Credit Constraints", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, November 21, 2011, 12:30-13:45, room MF 323.

  [ Full text ]

• Bruno Biais, "Crédit, parole et crise", Revue Banque, n. 742, December 2011.
• Augustin Landier and David Thesmar, "Regulating Systemic Risk through Transparency: Tradeoffs in Making Data Public", Systemic Risk and Macro Modeling (Markus K. Brunnermeier and Arvind Krishnamurthy), Chicago University Press, December 2011.

  [ Full text ]

• David Sraer (University of Princeton), "Speculative Betas", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, December 12, 2011, 12:30-14:00, room MF 323.

  [ Full text ]

• Bruno Biais, "On ne rase plus gratis", La Croix, December 19, 2011.

2012

• Christian Gollier, Pricing the planet's future: the economics of discounting in an uncertain world, Princeton University Press, 2012. ISBN:9780691148762.

  [ Website | Video ]
• Christian Gollier and Nicolas Treich, "Option Value and Precaution", in Encyclopedia of Energy: Natural Resources and Environmental Economics, chapter 159, 2012. ISBN:9780691132792..

• Robert M. Townsend (MIT), "Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes", Joint development economics & finance seminar, TSE, Toulouse, January 11, 2012, 11:00-14:00, room MS 001.

  [ Full text | Presentation slides ]

• Augustin Landier, "Payés cher mais pas trop", L'Expansion, February 2012.

• Augustin Landier and David Thesmar, "L'euro est-il sauvé ?", Les Echos, February 1, 2012.

  [ Full text | Web Page ]

• "Augustin Landier : « La rémunération du patron continue à représenter 0,01 % de la valeur de la société »", BFM business, February 24, 2012.

  Participants: Augustin Landier.

  [ Full text ]

• Roberta Dessi and Nina Yin, "The Impact of Venture Capital on Innovation", in The Oxford Handbook of Venture Capital, Oxford University Press, March 2012.

  [ Full text ]
• Christian Gollier, The consumption-based determinants of the term structure of discount rates: Corrigendum, March 2012.

  [ Full text ]

• Alan Morrison (Oxford University), "Reputational Contagion and Optimal Regulatory Forbearance.", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 5, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Vicky Henderson (The Oxford-Man Institute), "Executive Stock Options: Portfolio Effects", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 12, 2012, 12:30-13:45, room MF 323.

• Toni Whited (University of Rochester), "Equity Market Misvaluation and Firm Financial Policies", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, March 19, 2012, 12:30-14:00, room MF323.

  [ Full text ]

• Marc Rennert (Bundesbank), "Systemic banks and the lender of last resort", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 26, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Augustin Landier and David Thesmar, "Soigner l'overdose de dette", Les Echos, April 11, 2012.

  [ Full text | Web Page ]

• Pauli Murto (Aalto University), "Exit Options and Dividend Policy under Liquidity Constraints", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, April 23, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Bruno Biais (IDEI - TSE), "Complexity, rents and overcapacity in the financial industry", Fourth Workshop of the Paul Woolley Research Initiative, Toulouse, France, April 24-25, 2012.

  [ Abstract ]
• Roberta Dessi (IDEI - TSE), "Innovation, Spillovers and Venture Capital Contracts", Fourth Workshop of the Paul Woolley Research Initiative, Toulouse, France, April 24-25, 2012.

  [ Abstract ]
• Fourth Workshop of the Paul Woolley Research Initiative, Toulouse, France, April 24-25, 2012.

  Organized by Andrea Attar and Bruno Biais.

  [ Program | Map ]
• Stéphane Villeneuve (IDEI - TSE), "Contractual Externalities and Managerial Turnover", Fourth Workshop of the Paul Woolley Research Initiative, Toulouse, France, April 24-25, 2012.

  [ Abstract ]

• "« Il faut créer une épargne low-cost » : interview Augustin Landier", Le Figaro, April 27, 2012.

  Participants: Augustin Landier.

  [ Web Page ]

• Ailsa Roell (University of Columbia), "Frontrunning in a Model of Market Making with Inventory", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, April 30, 2012, 12:30-14:00, room MF 323.

• Frédéric Cherbonnier and François Salanié, "Surendettement : le fichier manquant", Les Echos, May 2, 2012.

  [ Full text | Web Page ]

• Financial Econometrics Conference, Toulouse, France, May 11-12, 2012.

  Organized by Nour Meddahi.

  [ Program | List of Communications (to be announced) | JAE | Local Information | Conference Venue | Location of Hotels ]

• "Grèce : l'euro ou le chaos ?", Le Point, May 14, 2012.

  Participants: Augustin Landier.

  [ Web Page ]
• Antoinette Schoar (Massachusetts Institute of Technology), "Ex Post (in)efficient Negotiation and Breakdown of Trade", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 14, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Andrew Ellul (University of Indiana), "Is Historical Cost Accounting a Panacea: Market Stress, Incentive Distortions and Gains Trading", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 21, 2012, 12:30-14:00, room MF 323.

• Jean-Charles Rochet (University of Zurich), "Who owns this firm? A critique of shareholder value maximization".", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, May 31, 2012, 11:00-12:30, room MC202.

• Frédéric Cherbonnier (Toulouse School of Economics), "Optimal insurance with time-inconsistent agents and hidden storage", On arbitrages arising with honest times, TSE, Toulouse, June 1, 2012, 13:45-15:00, room MF 323.
• Augustin Landier, "Choc des cultures entre Wall Street et la Silicon Valley", Le Monde, June 1, 2012.

  [ Full text | Web Page ]

• Stéphane Guibaud (London School of Economics), "Agency, Firm Growth, and Managerial Turnover", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 4, 2012, 12:30-13:45, room MS003.

  [ Full text ]

• Xavier Gabaix (Stern School of Business - New York University), "Sparse Boundedly Rational Dynamic Programming and Aggregate Fluctuations", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, June 11, 2012, 12:30-13:45, room MF 323.

  [ Full text ]

• Jean-Paul Décamps and Stéphane Villeneuve, "Rethinking Dynamic Capital Structure Models with Roll-Over Debt", Mathematical Finance, online first june 2012. doi:10.1111/j.1467-9965.2012.00532.x.

  [ Full text ]

• Augustin Landier and David Thesmar, "Un euro sans fédéralisme, c'est possible", Les Echos, June 20, 2012.

  [ Full text | Web Page ]

• Christian Gollier, Term structures of discount rates for risky investments, July 2012, revised October 2012.

  [ Full text ]

• Christian Gollier (University of Toulouse) and Bernard Salanié (Columbia University), "Individual decisions under risk, risk sharing and asset prices with regret", Risk and choice: A conference in honor of Louis Eeckhoudt, Toulouse, France, July 12-13, 2012.

  [ Slides | Papers ]

• Bruno Biais (Toulouse School of Economics), "The (ir)resistible rise of agency rents", Risk Management and Financial Markets, Toulouse, France, September 6-7, 2012.

  [ Abstract ]
• Guillaume Plantin (Toulouse School of Economics), "Deliberate Limits to Arbitrage", Risk Management and Financial Markets, Toulouse, France, September 6-7, 2012.

  [ Abstract ]
• Risk Management and Financial Markets, Toulouse, France, September 6-7, 2012.

  Organized by Jean-Paul Décamps, Jean-Charles Rochet and Stéphane Villeneuve.

  [ Program | List of Communications | Map | Conference Venue ]
• Jean-Charles Rochet (Toulouse School of Economics), "Optimal Debt Maturity", Risk Management and Financial Markets, Toulouse, France, September 6-7, 2012.

  [ Abstract ]

• Régis Breton (Banque de France and CNRS), "A smoke screen theory of financial intermediation", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, September 10, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Augustin Landier and David Thesmar, "Ce que va vraiment faire la BCE", Les Echos, September 19, 2012.

  [ Full text | Web Page ]

• Daniel Paravisini (London School of Economics), "The Information and Agency Effects of Scores: Randomized Evidence from Credit Committees", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, September 24, 2012, 12:30-14:00, room MF323.

  [ Full text ]

• Christian Julliard (London School of Economics), "What is the Consumption-CAPM missing? An Information-Theoretic Framework for the Analysis of Asset Pricing Models", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, October 8, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Christian Gollier and Sébastien Pouget (Toulouse School of Economics), "The good, the bad and the ugly: A theory of profitable and effective socially responsible investments", Behavioural Environmental Economics, Toulouse, October 11-12, 2012.

  [ Papers | Video ]

• Nataliya klimenko (Université Aix Marseille), "Bank Capital Requirements for Tail Risk: The Internal Agency Problem Matters!", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 15, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• "Aligning asset owners and managers : interview Sébastien Pouget", Top 100 funds, October 17, 2012.

  Participants: Sébastien Pouget.

  [ Web Page ]

• Vikrant Vig (London Business School), "Cultural Proximity and Loan Outcomes", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, October 22, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Christian Gollier (TSE(LERNA, University of Toulouse)), "Evaluation of long-dated investments under uncertain growth trend, volatility and catastrophes", IDEI Working Paper, n. 754, November 2012.

  [ Full text ]

• Peter Kondor (Central European University), "Trading and Information Diffusion in Over-the-Counter Markets", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, November 12, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Albert J. Menkveld (VU University Amsterdam), "Middlemen in Limit-Order Markets", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, November 19, 2012, 12:30-14:00, room MF 323.

  [ Website ]

• "La note pourrait encore baisser : interview Augustin Landier", La Dépêche du Midi, November 21, 2012.

  Participants: Augustin Landier.

  [ Full text ]

• Emiliano Pagnotta (New York University Stern), "Competing on Speed", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, November 26, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• Andrea Attar, Eloisa Campioni, Gwenaël Piaser and Uday Rajan, "Competing mechanism games of moral hazard: communication and robustness", Review of Economic Design, vol. 16, n. 4, December 2012, p. 283-296. doi:10.1007/s10058-012-0116-8.

• "Débat sur Free Télécom avec Augustin Landier", BFM "Les Experts", December 3, 2012.

  Participants: Augustin Landier.

  [ Full text ]
• Stavros Panageas (University of Chicago), "An Overlapping-Arcs Model of Partial Integration,Asset Prices, and Capital Allocation", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, December 3, 2012, 12:30-14:00, room MF 323.

• Guillaume Plantin (Toulouse School of Economics), "Shadow Banking and Bank Capital regulation", Internal Finance Workshop, TSE, Toulouse, December 10, 2012, 12:30-14:00, room MF 323.

  [ Full text ]

• "Débat sur les taux interbancaires avec Augustin Landier", BFM "Les Experts", December 11, 2012.

  Participants: Augustin Landier.

  [ Website ]

• Valentin Haddad (University of Princeton), "Concentrated Ownership and Equilibrium Asset Prices", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, December 17, 2012, 12:30-14:00, room MS003.

  [ Full text ]

• "Bataille pour l'emploi, leurs solutions pour 2013", La Dépêche du Midi, December 28, 2012.

  Participants: Augustin Landier.

  [ Full text ]
• "Bilan 2012", BFM "Les Experts", December 28, 2012.

  Participants: Augustin Landier.

  [ Video ]

2013

• Augustin Landier, Julien Sauvagnat, David Sraer and David Thesmar, "Bottom-up Corporate Governance", Review of Finance, vol. 17, n. 1, 2013, p. 161-201. doi:10.1093/rof/rfs020.

  [ Full text ]

• Andrea Attar, Eloisa Campioni and Gwenaël Piaser, "Two-sided communication in competing mechanism games", Journal of Mathematical Economics, vol. 49, n. 1, January 2013, p. 62-70. doi:10.1016/j.jmateco.2012.09.009.

• "Banques : " Quelque chose a changé "", La Dépêche du Midi, February 12, 2013.

  Participants: Augustin Landier.

• "Euro et inflation", BFM "Les Experts", February 22, 2013.

  Participants: Augustin Landier.

  [ Video ]

• "L'effort budgétaire", BFM "Les Experts", March 8, 2013.

  Participants: Augustin Landier.

  [ Video ]

• "Les dettes publiques", BFM "Good morning business", March 11, 2013.

  Participants: Jacques Delpla.

  [ Video ]

• Bertrand Villeneuve (Université Paris Dauphine), "A simple equilibrium model for a commodity market with spot trades and futures contracts", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, March 18, 2013, 12:30-14:00, room MF 323.

  [ Full text ]

• Zsuzsanna Fluck (University of Paris-Dauphine and Michigan State University), "Fund Managers under Pressure: Rationale for Secondary Buyouts", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, April 15, 2013, 12:30-14:00, room MF 323.

  [ Full text ]

• High Frequency Trading, NYSE Euronext, Paris, April 18-19, 2013.

  Organized by Bruno Biais and Fany Declerck.

  [ Program | Communication ]

• Florian Heider (European Central Bank), "As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes", Fédération des Banques Françaises Seminar on Investment Banking and Financial Markets, IDEI, Toulouse, May 6, 2013, 12:30-14:00, room MF 323.

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• Lasse Heje Pedersen (New York University Stern), "Embedded Leverage", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, June 3, 2013, 12:30-14:00, room MF 323.

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• Hulya Eraslan (University of John Hopkins), "Deliberation and Security Design in Bankruptcy", Paul Woolley Research Initiative Seminar on Capital Market Dysfunctionalities, IDEI, June 17, 2013, 12:30-14:00, room MF 323.

  [ Full text ]