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Natural Barrier to Entry in Credit Rating Industry (1)

Doh-Shin Jeon (Toulouse School of Economics)

IDEI, October 5, 2009, 12:30–14:00, room MF 323

In this paper, we examine whether there is a natural barrier to entry in the credit rating industry. We consider an infinite horizon model in which each period, an original incumbent faces competition from an entrant randomly selected from a pool of ex ante identical potential entrants. The...

Rational and Irrational Bubbles: An Experiment (1)

Sébastien Pouget (University of Toulouse (IAE and Toulouse School of Economics))

IDEI, September 21, 2009, 12:30–14:00, room MC 201

This paper proposes a theory of rational bubbles in an economy with finite trading opportunities. Bubbles arise because agents are never sure to be last in the market sequence. This theory is used to design an experimental setting in which bubbles can be made rational or irrational by varying one...

Monetary policy and the financing of firms (1)

Pedro Teles (Banque du Portugal)

September 15, 2009

First IDEI-SCOR Conference on "Risk Sharing and Finance" (1)

Toulouse, France, September 10–11, 2009

Architecture Internationale pour la Lutte contre le Réchauffement Climatique (1)

Jean Tirole (TSE and IDEI)

Toulouse: TSE, June 29, 2009, 15:00–16:30, room MC 204

Présentation (1)

Emmanuel Farhi (Harvard University)

June 26, 2009

TBA (1)

Ivar Ekeland (University of British Columbia)

TSE, June 15, 2009, 12:30–14:00, room MF 323

A Dynamic Limit Order Market with Diversity in Trading Horizons (1)

Mark Van Achter (University of Bonn and H.U. Brussel)

TSE, June 8, 2009, 12:30–14:00, room MF 323

This paper considers a trading game in which sequentially arriving liquidity traders either opt for a market order or for a limit order. One class of traders is considered to have an extended trading horizon, implying their impatience is linked to their trading orientation. More specifically,...

Optimal Financial Structure and Asset Prices (1)

Johan Hombert (ENSAE-CREST)

TSE, May 25, 2009, 12:30–14:00, room 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...

Collateral and Capital Structure (1)

Adriano Rampini (Duke University)

IDEI, May 18, 2009, 12:30–14:00, room 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...

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