Calendrier du 10 décembre 2018
Roy Seminar (ADRES)
Du 10/12/2018 de 17:00 à 18:30
salle R1-09, campus Jourdan - 75014 Paris
SANNIKOV Yully (Stanford Graduate School of Business)
Dynamic Trading: Price Inertia and Front-Running
écrit avec Andy Skrzypacz
We build a linear-quadratic model to analyze trading in a market with private information and heterogeneous agents. Agents receive private taste/inventory shocks and trade continuously. Agents differ in their need for trade as well as the cost to hold excessive inventory. In equilibrium, trade is gradual. Trading speed depends on the number and market power of participants, and trade among large market participants is slower than that among small ones. Price has momentum due to the actions of large traders: it drifts down if the sellers have greater market power than buyers, and vice versa. The model can also answer welfare questions, for example about the social costs and benefits of market consolidation. It can also be extended to allow private information about common value.
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Régulation et Environnement
Du 10/12/2018 de 12:00 à 13:00
salle R1-13, campus Jourdan - 75014 Paris
TAYLOR Scott (University of Calgary)
Is Free Trade Good for Resources - Labellisé par les Assises de la recherche de l'Université Paris 1
Paris Trade Seminar
Du 10/12/2018 de 12:00 à 13:00
PSE, campus Jourdan, 48 boulevard Jourdan - 75014 Paris, salle R1-13
TAYLOR Scott (University of Calgary)
Is Free Trade Good for Resources (Labellisé par les Assises de la recherche de l'Université Paris 1)
écrit avec Jevan Cherniwchan (Alberta Business School)
This paper develops a simple and tractable model of international trade and renewable resource use to facilitate an empirical assessment of international trade's impact on natural resource stocks. We do so by generalizing earlier theoretical work, within a small open economy framework, to derive a simple estimating equation linking changes in resource stocks to country characteristics and trade barriers. An empirical application studying deforestation in Indonesia is presented to provide a proof of principle test for the new method.
Paris Migration Seminar
Du 10/12/2018 de 09:00 à 17:30
46, quai Alphonse Le Gallo - 92100 Boulogne - Billancourt