Don’t Sweat the Small Stuff
2019-10-29 12:45 - 14:00 (Europe/Helsinki)
Chiara Margaria.
(Boston University).

Don’t Sweat the Small Stuff.
Abstract: Motivated by the study of household dynamics, we analyze a stochastic partnership model with a view to determining how the mean duration of the partnership depends on the distribution of the partners’ monetary earnings. Every period, the partners’ preferences for each other are revised stochastically, and the partners have the opportunity to choose to continue the relationship and renegotiate the allocation of their earning, or to part ways and permanently collect their autarky payoffs. Since the extent of such transfers is limited by the size of the partners’ earnings, the degree of effective transferability is determined both by the distribution of earnings and the nature of the shocks most likely to require compensation. We characterize equilibria of the infinitely repeated game with a fixed discount factor. The main result is that the expected duration of the partnership is decreasing in the inequality of monetary earnings if the shock distribution satisfies a monotone hazard rate condition.

Attendance confirmation.

The Sex Ratio, Marriage and Bargaining: a Chinese Story
2019-10-30 12:45 - 14:00
Francisco Javier Rodríguez.
(UC3M).

The Sex Ratio, Marriage and Bargaining: a Chinese Story.

Attendance confirmation.

A theory of falling growth and rising rents
2019-10-31 12:45 - 14:00
Timo Boppart.
(IIES).

A theory of falling growth and rising rents.

Attendance confirmation.

Minimum Price Equilibrium in the Assignment Market
2019-11-04 12:45 - 14:00
Shigehiro Serizawa.
(Osaka University).

Minimum Price Equilibrium in the Assignment Market.

Attendance confirmation.

Fiscal rules as Bargaining Chips
2019-11-05 12:45 - 14:00
Alessandro Riboni.
(Ecole Polytechnique).

Fiscal rules as Bargaining Chips.

Attendance confirmation.

Intuition in the shadow of the court
2019-11-06 12:45 - 14:00
Aditya Kuvalekar.
(UC3M).

Intuition in the shadow of the court.

Attendance confirmation.

Understanding the Sources of Earnings Losses After Job Displacement: A Machine-Learning Approach
2019-11-07 12:45 - 14:00
Andreas Gulyas.
(University of Mannheim).

Understanding the Sources of Earnings Losses After Job Displacement: A Machine-Learning Approach.
Abstract:
We document the sources behind earnings losses after job displacement adapting the generalized random forest due to Athey et al. (2019). Using administrative data from Austria over three decades, we show that displaced workers face large and persistent earnings losses. We identify substantial heterogeneity in losses across workers. A quarter of workers face cumulative 11-year losses higher than 2 times their pre-displacement annual income, while another quarter experiences losses less than 1.1 times their income. The most vulnerable are older high-income workers employed at well-paying firms in the manufacturing sector. Our methodology allows us to consider many competing theories of earnings losses prominently discussed in the literature. The two most important factors are the displacement firm’s wage premia and the availability of well paying jobs in the local labor market. Our overall findings provide evidence that earnings losses can be understood by mean reversion in firm rents and losses in match quality, rather than by a destruction of firm-specific human capital.

Attendance confirmation.

A Correlated Random Coefficient Panel Model with Time – Varying Endogeneity
2019-11-11 12:45 - 14:00
Louise Laage.
(TSE & Yale University).

A Correlated Random Coefficient Panel Model with Time – Varying Endogeneity.

Attendance confirmation.

PhD Students Workshop
2019-11-12 11:00 - 13:35
PhD Student Workshop.

Attendance confirmation.

Phd Students Workshop
2019-11-13 10:00 - 13:20 | 18.1.A07
Phd Students Workshop.

Attendance confirmation.

The Job Ladder: Inflation vs. Reallocation
2019-11-14 12:45 - 14:00
Fabien Postel-Vinay.
(UCL).

The Job Ladder: Inflation vs. Reallocation.

Attendance confirmation.

Skill and Value Creation in the Mutual Fund Industry
2019-11-18 12:45 - 14:00
Olivier Scaillet.
(Geneva Finance Research Institute).

Skill and Value Creation in the Mutual Fund Industry.

Attendance confirmation.

Signaling covertly acquired information
2019-11-19 12:45 - 14:00
Nenad Kos.
(Bocconi University).

Signaling covertly acquired information.

Attendance confirmation.

Social Connectivity, Media Bias, and Correlation Neglect
2019-11-20 12:45 - 14:00
Boris Ginzburg.
(UC3M).

Social Connectivity, Media Bias, and Correlation Neglect.

Attendance confirmation.

Healthy Dietary Choices in Distorted Food Environments
2019-11-21 12:45 - 14:00
Roberto Pancrazi.
(University of Warwick).

Healthy Dietary Choices in Distorted Food Environments.
We analyze how distortions in the food market limit the achievement of a healthy diet. Using Nielsen data we document a novel pattern on the relationship between healthy diet and income. We then build and estimate a tractable general equilibrium model in which difference in diet across income can be determined by preferences and/or by economic factors. We estimate the model so that it is able to account for the relevant stylized facts and we use as laboratory to study which policies could enhance healthy diets across different income levels.

Attendance confirmation.

Fast and Fair Simultaneous Confidence Bands for Functional Parameters
2019-11-25 12:45 - 14:00
Dominik Liebl.
(University of Bonn).

Fast and Fair Simultaneous Confidence Bands for Functional Parameters.

Attendance confirmation.

Time Lotteries and Stochastic Impatience
2019-11-26 12:45 - 14:00
David Dillenberger.
(University of Pennsylvania).

Time Lotteries and Stochastic Impatience.

Attendance confirmation.

Crowdfunding
2019-11-27 12:45 - 14:00
Aniko Oery.
(Yale School of Management).

Crowdfunding.

Attendance confirmation.

Implications of Consumer Loyalty for Price Dynamics when Price Adjustment is Costly
2019-12-02 12:45 - 14:00
Mateusz Mysliwski.
(NHH).

Implications of Consumer Loyalty for Price Dynamics when Price Adjustment is Costly.
Abstract:
We study the implications of consumer switching costs on prices when price adjustments are costly. Existing theoretical and empirical works on consumer switching costs assume firms can change prices freely without any supply side frictions. We develop a dynamic game-theoretic model in which consumers exhibit inertia in their choices and firms compete in prices while facing costly price adjustments. We use the model to analyse the UK butter and margarine industry and estimate it with a rich scanner data set. The adjustment costs in our model can be interpreted as promotional fees which dairy suppliers pay to supermarkets. We find that price adjustment costs are substantial and represent between 24-34% of manufacturers’ net margins. We show that ignoring price adjustment costs can lead to substantial underprediction of the effects of consumer switching costs on prices. Our model predicts that the removal of promotional fees reduces firm costs and increases their profits without passing down benefits to the consumers.

Attendance confirmation.

Killer acquisitions and the incentive to innovate
2019-12-03 12:45 - 14:00
Igor Letina.
(University of Bern).

Killer acquisitions and the incentive to innovate.

Attendance confirmation.

Network Dependence and Inference
2019-12-04 12:45 - 14:00
Julius Vainora.
(UC3M).

Network Dependence and Inference.

Attendance confirmation.

Media Competition and Social Disagreement
2019-12-10 12:45 - 14:00
Jacopo Perego.
(Columbia University).

Media Competition and Social Disagreement.

Attendance confirmation.

A Revealed-Preference Approach to Measuring Information Frictions in Migration Decisions
2019-12-16 12:45 - 14:00
Eduardo Morales.
(Princeton University).

A Revealed-Preference Approach to Measuring Information Frictions in Migration Decisions.
Abstract
“Labor demand shocks differ widely across regions within countries. Yet, migration patterns often do not respond to these regional shocks. Are workers’ limited migration responses due to lack of information about the potential net gains from regional migration? To answer this question, we analyze the mobility decisions of all formally employed workers in Brazil over 15 years. First, using a reduced-form approach, we document heterogeneous delay in reaction to positive local labor demand shocks: workers living in more distant regions and in regions with a lower degree of internet penetration tend to react more slowly to positive local labor demand shocks happening in other regions within the same country. Second, using a structural approach, we use model-based moment conditions and tests of overidentifying restrictions to test for the content of migrants’ information sets. Our preliminary results indicate that the precision of the information that workers have about labor market conditions in regions other than their region of residence decays strongly with distance. Agents located in regions with a better access to internet also appear to have more precise information.”

Attendance confirmation.

Bad jobs and low inflation
2019-12-19 12:45 - 14:00
Leonardo Melosi.
(Federal Reserve Bank of Chicago).

Bad jobs and low inflation.

Attendance confirmation.

Mergers Between Multi-Product Firms With Endogenous Variety: Theory and an Application to the RTE-Cereal Industry
2020-01-13 12:45 - 14:00
Francisco Garrido.
(Georgetown University).

Mergers Between Multi-Product Firms With Endogenous Variety: Theory and an Application to the RTE-Cereal Industry.

Attendance Confirmation.

Threshold Incentives and Academic Performance
2020-01-15 12:45 - 14:00
Pol Campos Mercade.
(Lund University).

Threshold Incentives and Academic Performance.

Attendance Confirmation.

"No Man is an Island": An Empirical Study on Team Formation and Performance
2020-01-16 12:45 - 14:00
Alessandra Alloca.
(University of Mannheim).

“No Man is an Island”: An Empirical Study on Team Formation and Performance.

Attendance Confirmation.

Self-Persuasion: Evidence from Field Experiments at Two International Debating Competitions
2020-01-17 12:45 - 14:00
Egon Tripodi.
(European University Institute).

Self-Persuasion: Evidence from Field Experiments at Two International Debating Competitions.

Attendance Confirmation.

House Price Cycles, Wealth Inequality and Portfolio Reshuffling
2020-01-20 12:45 - 14:00
Clara Martínez-Toledano.
(Paris School of Economics).

House Price Cycles, Wealth Inequality and Portfolio Reshuffling.

Attendance Confirmation.

Inflation, Default Risk and Nominal Debt
2020-01-21 12:45 - 14:00
Carlo Galli.
(University College London).

Inflation, Default Risk and Nominal Debt.

Attendance Confirmation.
