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Tuesday, November 6, 2012

Jean Tirole to Deliver Winter Lecture on The Future of Eurozone Regulatory Institutions, Koopmans Memorial Lectures

Jean Tirole of the Industrial Economics Institute will deliver the 2012-2013 Judge Ralph K. Winter Lecture on Corporate Law and Governance on Monday, Dec. 3, 2012, at Yale Law School. He’ll speak on “The Future of Eurozone Regulatory Institutions.” The talk will begin at 12:15 p.m. in the Faculty Lounge and is free and open to the public. The Winter Lecture is sponsored by the Dean’s Office and the Yale Law School Center for the Study of Corporate Law. The Judge Ralph K. Winter Lectureship on Corporate Law and Governance was established by former law clerks and students of Judge Winter to support lectures on corporate law and governance and related topics.

Tirole describes his talk as follows: "The Eurozone crisis brought serious institutional design problems to light. Academics and politicians have called for a reform of institutions, often in the direction of more federalism. Yet, short of a full-fledged political union, “federalism” is given many interpretations: larger European budget, joint-and-several liability (the Eurobonds proposals), various forms of banking union, and European unemployment insurance, to name a few. Meanwhile, new prudential regulations will impact the European financial industry, and Europe may have to face a hard choice between debt repudiation and debt monetization. The lecture will discuss the desirability and likelihood of alternatives, emphasizing the incentive view of Eurozone institutions." 

And on Tuesday, Dec. 4, and Wednesday, Dec. 5, Tirole will present the 2012 Tjalling C. Koopmans Memorial Lectures, sponsored by the Cowles Foundation for Research in Economics. The Dec. 4 lecture takes place from 4:00-5:30 p.m. in the Luce Hall Auditorium, 34 Hillhouse Ave. It is titled “Information, Tranching and Liquidity” (with Emmanuel Farhi, Harvard). A reception will follow. The Dec. 5 lecture, from 12:00-1:15 p.m., is titled “Bonus Culture” (with Roland Bénabou, Princeton) and will be held in the Common Room at 28 Hillhouse Ave. The Cowles Luncheon follows.

Jean Tirole is scientific director of the Industrial Economics Institute, a research center in economics located in Toulouse, France, within the University of Toulouse. He is also chairman of the board of directors of the Toulouse School of Economics. His research interests include industrial organization, regulation, organization theory, game theory, finance, macroeconomics and psychology.

After receiving his Ph.D. from the Massachusetts Institute of Technology in 1981, Tirole worked as a researcher at L’École Nationale des Ponts et Chaussées, and from 1984-1991, he was a professor of economics at MIT. He is still affiliated with MIT, where he serves as a visiting professor.

He has published numerous professional articles in economics and finance as well as nine books, including Inside and Outside Liquidity (2011, with Bengt Holmström), Balancing the Banks: Global Lessons from the Financial Crisis (2010, with Mathias Dewatripont and Jean-Charles Rochet), and The Theory of Corporate Finance (2006).

He received his Ph.D. in economics from MIT, engineering degrees from Ecole Polytechnique and Ecole Nationale des Ponts et Chaussées, and a Docteur de 3ème Cycle in decision mathematics from Paris IX - Dauphine.