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The Cost of Corporatism: Switzerland's  Exchange Rate Policy in the 1930s (1)

Ulrich Woitek (University of Zurich)

27 juin 2012

Carbon Abatement in the Fuel Market with Biofuels:Implications for Second-Best Policies (1)

Madhu Khanna (University of Illinois)

Toulouse : TSE, 18 juin 2012, 14h00–15h30, salle MF 323

A carbon tax on fuel would penalize carbon intensive fuels like gasoline and shift fuel consumption to less carbon intensive alternatives like biofuels. Since biofuel production competes for land with agricultural production, a carbon tax could increase land rents and raise food prices. This paper...

(Anti-)Coordination Problems with Scarce Water (1)

Agnès Tomini (LAMETA, Université de Montpellier)

Toulouse : TSE, 14 juin 2012, 11h00–12h30, salle MS 003

This paper extends the previous literature on differential games of groundwater pumping in two directions. First, we take up the often claimed necessity to model the physical interactions between groundwater and rainwater, instead of analyzing these water sources as non-connected systems, and...

Sparse Boundedly Rational Dynamic Programming and Aggregate Fluctuations (1)

Xavier Gabaix (Stern School of Business - New York University)

TSE, 11 juin 2012, 12h30–13h45, salle MF 323

This paper proposes a way to model boundedly rational dynamic programming in a parsimonious and tractable way. It first illustrates the approach via a boundedly rational version of the consumption-saving life cycle problem. The consumer can pay attention to the variables such as the interest rate...

Biofuel Mandates, Food Prices and Poverty (1)

Ujjayant Chakravorty (University of Alberta)

Toulouse : TSE, 11 juin 2012, 11h00–12h30, salle MF 323

PAPER 1 - In recent years, many countries have adopted aggressive policies that promote biofuels as a substitute for gasoline in transportation. For instance, 40% of US grain is now used in transportation. This share is expected to rise significantly under the current Renewable Fuels Mandate. In...

Agency, Firm Growth, and Managerial Turnover (1)

Stéphane Guibaud (London School of Economics)

TSE, 4 juin 2012, 12h30–13h45, salle MS003

We study the relation between firm growth and optimal managerial contracting under moral hazard when a long-lived firm is operated by a sequence of managers. In our model, firms replace their managers not only upon poor performance to provide incentives, but also when outside managers are at a...

Who owns this firm? A critique of shareholder value maximization (1)

Jean-Charles Rochet (University of Zurich)

IDEI, 31 mai 2012, 11h00–12h30, salle MC202

The Pre-FOMC Announcement Drift (1)

Emanuel Moench (FED of New York)

22 mai 2012

Is Historical Cost Accounting a Panacea: Market Stress, Incentive Distortions and Gains Trading (1)

Andrew Ellul (University of Indiana)

IDEI, 21 mai 2012, 12h30–14h00, salle MF 323

We provide new empirical evidence concerning the contentious debate over the use of historical cost versus fair value accounting in regulating financial institutions. These accounting rules, through their interactions with capital regulation, alter financial institutions’ optimal portfolio choice...

Synergies and Trade-offs between Climate and Local Air Pollution Policies in Sweden (1)

Jessica Coria (Université de Göteborg)

Toulouse : TSE, 21 mai 2012, 11h00–12h30, salle Amphi S

In this paper, we explore the synergies and tradeoffs between abatement of global and local pollution. We built a unique dataset of Swedish heat and power plants with detailed boiler-level data 2001-2009 on not only production and inputs but also emissions of CO2 and NOx. Both pollutants are...

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