EEA-ESEM 2006: Congress Programme

The Congress Programme is subject to last minute changes.

This version of the Programme was viewed at 14/07/2006 14:05:10

FRIDAY 25 AUGUST 2006

DAY OVERVIEW
09:00 - 11:00 LAFFONT LECTURE
11:00 - 11:30 COFFEE BREAK
11:30 - 13:30 CONTRIBUTED SESSION 2 ESEM Econometrics
11:30 - 13:30 CONTRIBUTED SESSION 2 ESEM Theory
11:30 - 13:30 CONTRIBUTED SESSION 2 EEA
11:30 - 13:30 JEEA-FUNDACIÓN BBVA. SPECIAL EEA ANNIVERSARY SESSION A
13:30 - 14:30 LUNCH TIME
13:30 - 14:30 JEEA LUNCH
14:30 - 16:30 CONTRIBUTED SESSION 3 ESEM Econometrics
14:30 - 16:30 CONTRIBUTED SESSION 3 ESEM Theory
14:30 - 16:30 CONTRIBUTED SESSION 3 EEA
16:30 - 17:00 COFFEE BREAK
17:00 - 19:00 ES PRESIDENTIAL ADDRESS
19:00 ES MEMBER MEETING

09:00 - 11:00 LAFFONT LECTURE

11:00 - 11:30 COFFEE BREAK

11:30 - 13:30 CONTRIBUTED SESSION 2
EEA

11:30 - 13:30 CENTRAL BANKING I (EEA)
Chairperson: Otto H. Swank, Erasmus University Rotterdam
Room J-21
  TRANSPARENCY AND PRE-MEETINGS
Otto H. Swank, Erasmus University Rotterdam

  
  UNCERTAINTY AND JUDGMENT AGGREGATION IN MONETARY POLICY COMMITTEES
Řistein Rřisland, Norges Bank
Co-Author: Carl Andreas Claussen, Norges Bank

  
  DOES CENTRAL BANK TRANSPARENCY REDUCE INTEREST RATES?
Carin van der Cruijsen, De Nederlandsche Bank and University of Amsterdam
Co-Authors: Sylvester Eijffinger, University of Tilburg, RSM Erasmus University, and CEPR and Petra Geraats, University of Cambridge
  
11:30 - 13:30 BANKING II (EEA)
Chairperson: Bent Vale, Norges Bank (central bank of Norway)
Room U-47
  THE EFFECT OF RELATIONSHIP LENDING ON FIRM PERFORMANCE
Judit Montoriol-Garriga, Universitat Pompeu Fabra

  
  BANK MARKET POWER AND SME FINANCING CONSTRAINTS
Francisco Rodriguez-Fernandez, University of Granada
Co-Authors: Santiago Carbo-Valverde, University of Granada and Gregory Udell, Indiana University

  
  HOW LAW AFFECTS LENDING
Rainer F.H. Haselmann, Columbia University
Co-Authors: Pistor Katharina, Columbia Law School and Vig Vikrant, Columbia Business School
  
11:30 - 13:30 CORPORATE FINANCE II (EEA)
Chairperson: Jan Svejnar, University of Michigan
Room U-34
  DIVESTURES, PRIVATIZATION AND CORPORATE PERFORMANCE IN EMERGING MARKETS
Jan Svejnar, University of Michigan
Co-Authors: Jan Hanousek, CERGE-EI and Evzen Kocenda, CERGE-EI

  
  COURNOT DUOPOLY AND INSIDER TRADING WITH TWO INSIDERS
Wassim Daher, Cermsem-Universite Paris 1
Co-Author: Leonard J. Mirman, University of Virginia

  
  CAPITAL STRUCTURE AND MANAGERIAL COMPENSATION: THE EFFECTS OF REMUNERATION SENIORITY
Riccardo Calcagno, Vrije Universiteit Amsterdam

  
  THE IMPACT OF MEDIA'S REPUTATION ON THE EQUITY FINANCING: MANIPULATION AND COLLUSION
Weihua Huang, GREMAQ UNIVERSITE DE TOULOUSE 1
  
11:30 - 13:30 ECONOMIC DEVELOPMENT II (EEA)
Chairperson: Chamon Marcos, IMF
Room U-50
  THE MYTH OF POST-REFORM INCOME STAGNATION IN BRAZIL
Chamon Marcos, IMF
Co-Author: Irineu de Carvalho Filho, International Monetary Fund

  
  MACROECONOMIC AND DISTRIBUTIONAL EFFECTS OF DEVALUATION IN A DOLLARIZED ECONOMY: A CGE ANALYSIS FOR BOLIVIA
Rainer Schweickert, Kiel Institute for World Economics
Co-Authors: Rainer Thiele, Kiel Institute for World Economics and Manfred Wiebelt, Kiel Institute for World Economics

  
  DISEASES AND DEVELOPMENT
Fidel Perez-Sebastian, Universidad de Alicante
Co-Authors: Shankha Chakraborty, University of Oregon and Chris Papageorgiou, Louisiana State University

  
  “WHEN YOU ARE TALKING A POSSIBLE $1,000 A DAY TAX-FREE, IT’S REAL ATTRACTIVE” (BUT YOU MIGHT DIE)
Markus Haacker, International Monetary Fund
  
11:30 - 13:30 TAXATION I (EEA)
Chairperson: Martin Hellwig, Max Planck Institute, Collective Goods
Room J-18
  A CONTRIBUTION TO THE THEORY OF OPTIMAL UTILITARIAN INCOME TAXATION
Martin Hellwig, Max Planck Institute, Collective Goods

  
  TAX BUYOUTS
Marco Del Negro, Federal Reserve Bank of Atlanta
Co-Author: Fabrizio Perri, New York University

  
  TAXATION, INSURANCE AND PRECAUTIONARY LABOR
Nick Netzer, University of Konstanz
Co-Author: Florian Scheuer, MIT

  
  OPTIMAL INCOME TAXATION, PUBLIC GOOD PROVISION AND INFORMATIVE VOTING
Marco Sahm, LMU München
Co-Author: Felix Bierbrauer, MPI Bonn
  
11:30 - 13:30 FOREIGN DIRECT INVESTMENT II (EEA)
Chairperson: Bruno Merlevede, CERISE - Ghent University
Room U-46
  FDI AND THE CONSEQUENCES
Bruno Merlevede, CERISE - Ghent University
Co-Author: Koen Schoors, CERISE - Ghent University

  
  ORGANIZATION OF MULTINATIONAL ACTIVITIES AND OWNERSHIP STRUCTURE
Christian Mugele, Munich Graduate School of Economics
Co-Author: Monika Schnitzer, Department of Economics, University of Munich

  
  FOREIGN DIRECT INVESTMENT LINKAGES, FINANCIAL MARKETS AND ECONOMIC GROWTH
Selin Sayek, Bilkent University
Co-Authors: Laura Alfaro, Harvard Business School, Areendam Chanda, Louisiana State University and Sebnem Kalemli-Ozcan, University of Houston
  
11:30 - 13:30 PUBLIC FINANCE II (EEA)
Chairperson: Peter Egger, ifo Institute
Room U-24
  STRUCTURAL FUNDS, EU ENLARGEMENT, AND THE REDISTRIBUTION OF FDI IN EUROPE
Peter Egger, ifo Institute
Co-Authors: Fritz Breuss, Wirtschaftsuniversität Wien and Michael Pfaffermayr, University of Innsbruck

  
  THE EUROPEAN SOCIO-ECONOMIC MODEL
Karl Aiginger, Austrian Institute of Economic Research

  
  THE WELFARE IMPLICATIONS OF SOCIAL SECURITY FOR HOMEOWNERS
Kaiji Chen, Department of Economics, University of Oslo

  
  SPATIAL INTERACTIONS IN PUBLIC EXPENDITURES - EVIDENCE FROM SWEDISH MUNICIPALITIES
Karin Edmark, Uppsala University
  
11:30 - 13:30 INEQUALITY II (EEA)
Chairperson: Patrick Moyes, CNRS-GRAPE
Room J-13
  GINI OR LORENZ: DOES IT MAKE A DIFFERENCE FOR INEQUALITY MEASUREMENT?
Patrick Moyes, CNRS-GRAPE

  
  REGIONAL INEQUALITY AND PRODUCTIVITY GROWTH IN CHINA: THE ROLE OF FOREIGN DIRECT INVESTMENT, INFRASTRUCTURE, AND HUMAN CAPITAL
Belton Fleisher, Ohio State University
Co-Authors: Haizheng Li, Georgia Institute of Technology and Min Qiang Zhao,

 
  INCOME AND WEALTH CONCENTRATION IN SPAIN IN HISTORICAL AND FISCAL PERSPECTIVE
Facundo Alvaredo, Paris-Jourdan Sciences Economics (ENS-EHESS-ENPC-CNRS)
  
11:30 - 13:30 LABOUR MARKET - SEARCH AND MATCHING II (EEA)
Chairperson: Pedro Portugal, Banco de Portugal
Room J-31
  THREE WEDDINGS AND (MAYBE) A FUNERAL: REVISITING JOB SEARCH THEORY
Pedro Portugal, Banco de Portugal
Co-Author: Mário Centeno, Banco de Portugal

  
  PRICE RIGIDITY AND THE VOLATILITY OF VACANCIES AND UNEMPLOYMENT
Javier Ferri, Universidad de Valencia
Co-Authors: Javier Andres, UNIVERSIDAD DE VALENCIA and Rafael Domenech, Universidad de Valencia

  
  EXPLAINING VACANCY-UNEMPLOYMENT VOLATILITY OVER THE BUSINESSCYCLE: THE ROLE OF ON-THE-JOB-SEARCH
Stephan Fahr, European University Institute

  
  REAL PRICE AND WAGE RIGIDITIES IN A MODEL WITH MATCHING FRICTIONS
Keith Kuester, Goethe University
 
11:30 - 13:30 EMPIRICAL INDUSTRIAL ORGANISATION II (EEA)
Chairperson: Hong Bo, Department of Financial & Management Studies, SOAS, University of London
Room J-11
  HERDING IN CORPORATE INVESTMENT: UK EVIDENCE
Hong Bo, Department of Financial & Management Studies, SOAS, University of London

  
  EU MERGER REMEDIES: AN EMPIRICAL ASSESSMENT
Tomaso Duso, Humboldt University Berlin and WZB
Co-Authors: Klaus Gugler, University of Vienna and Burcin Yurtoglu, University of Vienna

  
  WILLINGNESS TO PAY FOR AIRLINE SERVICES ATTRIBUTES: MICROECONOMETRIC EVIDENCE FROM A STATED PREFERENCES CHOICE GAME
Menezes Antonio, University of the Azores
Co-Author: Vieira José, University of the Azores

  
  TWO-PART TARIFFS VERSUS LINEAR PRICING BETWEEN MANUFACTURERS AND RETAILERS: EMPIRICAL TESTS ON DIFFERENTIATED PRODUCTS MARKETS
Celine Bonnet, University of toulouse (INRA)
Co-Authors: Pierre Dubois, University of Toulouse (INRA, IDEI) and Michel Simioni, University of Toulouse (INRA, IDEI)
  
11:30 - 13:30 ENVIRONMENTAL ECONOMICS II (EEA)
Chairperson: Norbert LADOUX, University of Toulouse (IDEI and GREMAQ)
Room J-17
  ENVIRONMENTAL TAX DESIGN WITH ENDOGENOUS EARNING ABILITIES (WITH APPLICATIONS TO FRANCE)
Norbert LADOUX, University of Toulouse (IDEI and GREMAQ)
Co-Authors: Helmuth CREMER, IDEI and Firouz GAHVARI, University of Illinois

  
  ENDOGENOUS DESIGN OF ENVIRONMENTAL REGULATION IN FIRST AND SECOND BEST ECONOMIES WITH PATENTS
Grischa Perino, University of Heidelberg

  
  ENVIRONMENTAL POLICY, HEALTH AND LONG-RUN ECONOMIC GROWTH
Xavier Pautrel, Université de Nantes, Laboratoire d''économie de Nantes (LEN)

  
  ENVIRONMENTAL POLICIES OF LOCAL GOVERNMENTS IN A FEDERATION WITH EQUALIZING GRANTS, MOBILE CAPITAL, AND ASYMMETRIC INFORMATION
Thomas Kuhn, Department of Economics
Co-Author: Martin Altemeyer-Bartscher, Chemnitz University of Technology
  
11:30 - 13:30 EXCHANGE RATES II (EEA)
Chairperson: Stefan Reitz, Deutsche Bundesbank
Room J-16
  THE COORDINATION CHANNEL OF FOREIGN EXCHANGE INTERVENTION: A NONLINEAR MICROSTRUCTURAL ANALYSIS
Stefan Reitz, Deutsche Bundesbank
Co-Author: Mark P. Taylor, DEPARTMENT OF ECONOMICS, UNIVERSITY OF WARWICK

  
  EXCHANGE RATES AND FUNDAMENTALS: IS THERE A ROLE FOR NONLINEARITIES IN REAL TIME?
Kurmas Akdogan, Birkbeck
Co-Author: Yunus Aksoy, Birkbeck College

  
  LEARNING TO FORECAST THE EXCHANGE RATE: TWO COMPETING APPROACHES.
Agnieszka Markiewicz, Kuleuven
Co-Author: Paul De Grauwe, University of Leuven

  
  ARBITRAGE IN THE FOREIGN EXCHANGE MARKET: TURNING ON THE MICROSCOPE
Q. Farooq Akram, Central Bank of Norway
Co-Authors: Dagfinn Rime, Norges Bank and Lucio Sarno, Warwick Business School
  
11:30 - 13:30 EXPERIMENTAL ECONOMICS I (EEA)
Chairperson: Frank Cowell, STICERD, London School of Economics
Room J-32
  TO BE OR NOT TO BE INVOLVED: A QUESTIONNAIRE-EXPERIMENTAL VIEW ON HARSANYI'S UTILITARIAN ETHICS
Frank Cowell, STICERD, London School of Economics
Co-Authors: Yoram Amiel, Ruppin AcademiC Center and Wulf Gaertner, University of Osnabrueck

  
  OVERCOMING INCENTIVE CONSTRAINTS? THE (IN-)EFFECTIVENESS OF SOCIAL INTERACTION
Veronika Grimm, University of Cologne
Co-Author: Dirk Engelmann, Royal Holloway, University of London

  
  DEAL OR NO DEAL?DECISION MAKING UNDER RISK IN A LARGE-PAYOFF GAME SHOW
Thierry Post, Erasmus University Rotterdam
Co-Authors: Guido Baltussen, Erasmus University Rotterdam and Martijn van den Assem, Erasmus Universitity Rotterdam
  
11:30 - 13:30 FINANCIAL MARKETS I (EEA)
Chairperson: Alberto Martin, CREI - Centre de Recerca en Economia Internacional
Room J-41
  ON THE EFFICIENCY OF FINANCIAL MARKETS UNDER ADVERSE SELECTION: THE ROLE OF EXCLUSIVITY
Alberto Martin, CREI - Centre de Recerca en Economia Internacional

  
  THE ROLE OF GOVERNMENT DEBT IN FOSTERING PRIVATE SECTOR LIQUIDITY: THE EFFECT ON SECURITY DESIGN UNDER ASYMMETRIC INFORMATION
Filippo Taddei, SIPA - Columbia University

  
  WHAT RESTRICTIONS DO RATIONALITY AND THE INFORMATION GENERATING PROCESS PLACE ON EQUILIBRIUM OUTCOMES?
Tarek Coury, University of Oxford
Co-Author: David Easley, Cornell University
  
11:30 - 13:30 INFLATION AND PRICE SETTING I (EEA)
Chairperson: Jerzy (Jurek) D. Konieczny, Wilfrid Laurier University
Room J-52
  REGULAR ADJUSTMENT: THEORY AND EVIDENCE
Fabio Rumler, Austrian Central Bank
Co-Author: Jerzy (Jurek) D. Konieczny, Wilfrid Laurier University

  
  STICKY INFORMATION VS. STICKY PRICES: A HORSE RACE IN A DSGE FRAMEWORK
Mathias Trabandt, Humboldt University Berlin

  
  DOES INDEXATION BIAS THE FREQUENCY OF PRICE ADJUSTMENT?
Oleksiy Kryvtsov, Bank of Canada
Co-Author: Maral Kichian, Bank of Canada
  
11:30 - 13:30 INTERNATIONAL TRADE I (EEA)
Chairperson: Santiago Rubio, University of Valencia
Room J-42
  FOREIGN MONOPOLIES AND TARIFF AGREEMENTS UNDER INTEGRATED MARKETS
Santiago Rubio, University of Valencia
Co-Author: Dolores Alepuz, University of Valencia

  
  HYSTERESIS IN EXPORT MARKETS
Luca David Opromolla, New York University
Co-Author: Alfonso Irarrazabal, New York University

  
  MULTI-PRODUCT FIRMS AND FLEXIBLE MANUFACTURING IN THE GLOBAL ECONOMY
Carsten Eckel, University of Göttingen
Co-Author: J. Peter Neary, University College Dublin

  
  EXCHANGE RATE MOVEMENTS AND INTERNATIONAL TRADE UNDER FOREIGN CURRENCY BORROWING
Nicolas Berman, University Paris 1 Panthéon Sorbonne
Co-Author: Berthou Antoine, University Paris1 Panthéon - Sorbonne
  
11:30 - 13:30 LABOUR MARKET - EMPIRICAL STUDIES II (EEA)
Chairperson: Randi Pintoff, University of Maryland
Room J-51
  DO ARREST AND INCARCERATION AFFECT HIGH SCHOOL GRADUATION?
Randi Pintoff, University of Maryland

  
  UNTALENTED BUT SUCCESSFUL
Vincenzo Verardi, Université Libre de Bruxelles
Co-Author: Olivier Gergaud, Université de Reims

  
  REGIONAL EFFECTS ON EMPLOYER PROVIDED TRAINING: EVIDENCE FROM APPENTICESHIP TRAINING IN SWITZERLAND
Samuel Muehlemann, University of Bern
Co-Author: Stefan C. Wolter, University of Bern

  
  APPLY WITH CAUTION: INTRODUCING UK-STYLE IN-WORK SUPPORT IN GERMANY
Michal Myck, DIW-Berlin
Co-Author: Peter Haan, DIW Berlin
  
11:30 - 13:30 POLITICAL ECONOMY II (EEA)
Chairperson: Vincenzo Galasso, IGIER, Universitŕ Bocconi
Room U-21
  THE POLITICAL FEASIBILITY OF POSTPONING RETIREMENT
Vincenzo Galasso, IGIER, Universitŕ Bocconi

  
  ENDOGENEOUS MINIMUM WAGES, HUMAN CAPITAL ACCUMULATION AND GROWTH
Ahmed Tritah, University of Toulouse and European University Institute

  
  A SPATIAL THEORY OF NEWS CONSUMPTION AND ELECTORAL COMPETITION
Wing Suen, Chinese University of Hong Kong
Co-Author: Jimmy Chan, Shanghai University of Finance and Economics

  
  WELFARE STATE RETRENCHMENT: THE PARTISAN EFFECT REVISITED
Jan Schumacher, Johannes Gutenberg-University Mainz
Co-Authors: Bruno Amable, PSE Paris-Jourdan Sciences Economiques and Donatella Gatti, PSE (Paris-Jourdan Science Economique)
  
11:30 - 13:30 INTERNATIONAL FINANCE II (EEA)
Chairperson: Hans-Joachim Voth, Universitat Pompeu Fabra
Room U-41
  THE GREAT DIVERSIFICATION FATA MORGANA: THE FALL AND RISE OF STOCKMARKET CORRELATIONS, 1890-2000
Hans-Joachim Voth, Universitat Pompeu Fabra
Co-Author: Dennis Quinn,

 
  INTEGRATION AND STOCK MARKET CO-MOVEMENT BETWEEN EMERGING ECONOMIES
BERTRAND CANDELON, UNIVERSITY MAASTRICHT
Co-Author: Michel Beine, university of Luxemburg

  
  CHANGES IN EMERGING MARKET VOLATILITY AND OUTLIERS: REVISITING THE EFFECTS OF FINANCIAL LIBERALIZATION
Fernando Perez De Gracia, UNIVERSIDAD DE NAVARRA
Co-Authors: Juncal Cuńado, Universidad de Navarra and Javier Gomez Biscarri, IESE - Universidad de Navarra

  
  THE YIELD CURVE FOR SOVEREIGN BONDS. DEBT CRISES AND POLICY IMPLICATIONS
Aitor Erce Dominguez, European University Institute
  
11:30 - 13:30 INDUSTRIAL ORGANISATION II (EEA)
Chairperson: Juana Santamaria, Universidad de Alicante
Room J-61
  ATM SURCHARGES: EFFECTS ON DEPLOYMENT AND WELFARE
Juana Santamaria, Universidad de Alicante
Co-Authors: Joel Sandonís, Universitat d''Alacant, Ioana Chioveanu, Universidad de Alicante and Ramon Fauli-Oller, Universitat d''Alacant

  
  OLIGOPOLY ON A SALOP CIRCLE WITH CENTRE
Mario Pezzino, School of Social Sciences, Economic Studies, University of Manchester
Co-Author: Paul Madden, Manchester University

  
  ORGANISATION OF R&D WITH TWO AGENTS AND PRINCIPAL
Ekaterina Goldfayn, Bonn Graduate School of Economics, University of Bonn

  
  PRICE VS. QUANTITY IN OLIGOPOLY GAMES
Attila Tasnádi, Corvinus University of Budapest
  
11:30 - 13:30 LABOUR MARKET - INSTITUTIONS AND PERFORMANCE II (EEA)
Chairperson: Jochen Kluve, RWI Essen
Room U-48
  THE EFFECTIVENESS OF EUROPEAN ACTIVE LABOR MARKET POLICY
Jochen Kluve, RWI Essen

  
  THE PERVERSE EFFECTS OF PARTIAL EMPLOYMENT PROTECTION REFORM: EXPERIENCE RATING AND FRENCH OLDER WORKERS
Luc Behaghel, LEA-INRA
Co-Authors: Bruno Crepon, INSEE and Béatrice SEDILLOT, DARES

  
  THE EFFECT OF EMPLOYMENT PROTECTION ON WAGES: EVIDENCE FROM ITALY
marco Leonardi, University of Milano
Co-Author: Giovanni Pica, University of Salerno

  
  IS PUBLIC EMPLOYMENT SERVICE JOB-BROKERAGE ACTVITY AN EFFICIENT REDISTRIBUTION TOOL?
Anne-Laure Mascle-Allemand, University of Toulouse
  
11:30 - 13:30 MONETARY POLICY II (EEA)
Chairperson: Tommy Sveen, Norges Bank
Room J-62
  SOME WELFARE IMPLICATIONS OF FIRM-SPECIFIC CAPITAL
Tommy Sveen, Norges Bank
Co-Author: Lutz Weinke, Duke University

  
  OPTIMAL MONETARY POLICY RESPONSE TO DISTORTIONARY TAX CHANGES
Wolfgang Lemke, Deutsche Bundesbank
Co-Author: Michael Krause, Deutsche Bundesbank

  
  INCOMPLETE MARKETS, IDIOSYNCRATIC SHOCKS AND OPTIMAL MONETARY POLICY
Andrea Pescatori, Universitat Pompeu Fabra

  
  OPEN MARKET OPERATIONS, ELIGIBLE SECURITIES, AND MACROECONOMIC STABILIZATION
Andreas Schabert, University of Amsterdam
  
11:30 - 13:30 CONTRIBUTED SESSION 2
ESEM: Theoretical and Applied Economics

11:30 - 13:30 AUCTION I (ESEM TAE)
Chairperson: Michal Bresky, CERGE-EI
Room U-7
  AUCTIONS WITH HETEROGENEOUS ENTRY COSTS
Diego Moreno, Universidad Carlos III de Madrid
Co-Authors: John Wooders, University of Arizona and John Wooders,

 
  FIRST-ORDER CONDITIONS FOR MULTIDIMENSIONAL AUCTIONS
Alvaro Riascos, Universidad de los Andes

  
  MONOTONICITY AND SELECTION OF BIDDING EQUILIBRIA
Vlad Mares, Olin School of Business

  
  PROPERTIES OF PRIVATE-VALUE UNIFORM-PRICE AUCTIONS WITH A RESERVATION PRICE
Michal Bresky, CERGE-EI
  
11:30 - 13:30 BARGAINING (ESEM TAE)
Chairperson: Harold Houba, Vrije Universiteit
Room J-53
  ALTERNATING OFFER BARGAINING WITH ENDOGENOUS INFORMATION
Tri Vi Dang, University of Mannheim

  
  BARGAINING WITH EXTERNALITIES
Westermark Andreas, Department of Economics, Uppsala University

  
  BILATERAL BARGAINING WITH EXTERNALITIES
Catherine de Fontenay, University of Melbourne
Co-Author: Joshua Gans, University of Melbourne

  
  ON DI¤ERENT TIME PREFERENCES IN CONTRACT NEGOTIATIONS WITH COMPLETE INFORMATION
Harold Houba, Vrije Universiteit
Co-Author: Quan Wen, Vanderbilt University
  
11:30 - 13:30 COMPETITION POLICY (ESEM TAE)
Chairperson: Yuk-fai Fong, Northwestern University
Room U-30
  ANTI-COMPETITIVE EFFECTS OF A LEGISLATION: THE BAN OF BELOW COST PRICING FOR RETAILERS
Marie-Laure Allain, CNRS Ecole Polytechnique and London Business School
Co-Author: Claire Chambolle, INRA and Ecole Polytechnique

  
  DYNAMIC LIMIT PRICING
Flavio Toxvaerd, University of Cambridge

  
  INDEX CONTRACTS AND SPOT MARKET COMPETITION
Le Coq Chloe, University of California, Berkeley

  
  TACIT COLLUSION FACILITATED BY CONSTRAINED AFTERMARKET POWER
Yuk-fai Fong, Northwestern University
Co-Author: Jay Surti, International Monetary Fund
  
11:30 - 13:30 DEVELOPMENT ECONOMICS (ESEM TAE)
Chairperson: Holger Strulik, University of Copenhagen
Room J-22
  AGRICULTURE AND AGGREGATE PRODUCTIVITY: A QUANTITATIVE CROSS-COUNTRY ANALYSIS
Xiaodong Zhu, University of Toronto
Co-Authors: Diego Restuccia, University of Toronto and Dennis Yang, Virginia Polytechnic Institute and University

  
  CREDITOR PROTECTION AND THE DYNAMICS OF THE DISTRIBUTION IN OLIGARCHIC SOCIETIES
Manuel Oechslin, University of Zurich / IEW

  
  INVESTING CASH TRANSFERS TO RAISE LONG TERM LIVING STANDARDS
Marta Rubio Codina, University of Toulouse I
Co-Authors: Paul J. Gertler, and Sebastian Martinez,

 
  PATTERNS OF DEMOGRAPHIC DEVELOPMENT AND STRUCTURAL CHANGE
Holger Strulik, University of Copenhagen
  
11:30 - 13:30 HOUSING AND SPATIAL ECONOMICS (ESEM TAE)
Chairperson: Markus Haavio, Department of Economics, Helsinki School of Economics
Room J-63
  A THEORY OF RATIONAL SPATIAL AGGLOMERATIONS
Pascal Mossay, Universidad de Alicante

  
  DYNAMIC HOUSE ALLOCATIONS
Simon Loertscher, University of Bern

  
  HETEROGENEITY WITHIN COMMUNITIES: A STOCHASTIC MODEL WITH TENURE CHOICE
Francois Ortalo-Magne, University of Wisconsin-Madison
Co-Author: Sven Rady, University of Munich

  
  HOUSE PRICE FLUCTUATIONS AND RESIDENTIAL SORTING
Markus Haavio, Department of Economics, Helsinki School of Economics
Co-Author: Heikki Kauppi, University of Helsinki
  
11:30 - 13:30 MONETARY POLICY I (ESEM TAE)
Chairperson: Martin Fukac, Czech National Bank
Room U-42
  BANK BEHAVIOR AND THE COST CHANNEL OF MONETARY TRANSMISSION
Hülsewig Oliver, Ifo Institute Munich
Co-Authors: Eric Mayer, University of Wuerzburg and Timo Wollmershäuser, Ifo Institute for Economic Research at the University of Munich

  
  DISCRETION RATHER THAN RULES? WHEN IS DISCRETIONARY POLICY-MAKING BETTER THAN THE TIMELESS PERSPECTIVE?
Stephan Sauer, University of Munich

  
  THE RELATIVE IMPORTANCE OF TERM SPREAD, POLICY INERTIA AND PERSISTENT POLICY SHOCKS IN ESTIMATED MONETARY POLICY RULES: A STRUCTURAL APPROACH
Maria-Dolores Pedrero Ramon, Universidad de Murcia
Co-Author: Vazquez Jesus, Universidad del Pais Vasco

  
  WHY A GOOD COMMUNICATION OF MONETARY POLICY IS IMPORTANT? A CASE OF HETEROGENEOUS EXPECTATIONS AND ADAPTIVE LEARNING
Martin Fukac, Czech National Bank
  
11:30 - 13:30 PATENTS AND LICENSING (ESEM TAE)
Chairperson: Richard Schmidtke, University of Munich
Room J-64
  AN EFFICIENT LICENSE AUCTION AS A SELF-SELECTING ENTRY REGULATION
Yosuke Yasuda, Princeton University

  
  COURNOT MEETS THE CHICAGO SCHOOL
Mikko Packalen, University of Waterloo, Department of Economics

  
  IS THE GENERAL PUBLIC LICENCE A RATIONAL CHOICE?
Arnold Polanski, Queen's University Belfast

  
  PATENT SETTLEMENTS AND MARKET ENTRY
Richard Schmidtke, University of Munich
Co-Author: Jing-Yuan Chiou, University of Toulouse
  
11:30 - 13:30 POLITICAL ECONOMY I (ESEM TAE)
Chairperson: Stéphane Rossignol, University Versailles and University Paris 1
Room J-sem 10
  GROWTH, GOVERNANCE AND CORRUPTION IN THE PRESENCE OF THRESHOLD E¤ECTS: THEORY AND EVIDENCE
Vania Sena, Aston Business School
Co-Authors: toke aidt, University of Cambridge and jaysri Dutta, University of Birmingham

  
  INEQUALITY, REDISTRIBUTION AND THE ALLOCATION OF PUBLIC SPENDING IN EDUCATION: A POLITICAL-ECONOMY APPROACH .
Laura Sabani, university of Florence
Co-Authors: Debora Di Gioacchino, university of Rome and Sergio Ginebri, University of Molise

  
  ON THE INDETERMINACY OF TRADE POLICY UNDER DIFFERENT ELECTORAL RULES
Wiberg Magnus, Stockholm University

  
  POLITICS OF THE SOCIAL HEALTH INSURANCE
Stéphane Rossignol, University Versailles and University Paris 1
  
11:30 - 13:30 INTERNATIONAL FINANCE (ESEM TAE)
Chairperson: Fabio Ghironi, Boston College
Room J-Sem20
  CREDIT DERIVATIVES AND SOVEREIGN DEBT CRISES
Wolf Wagner, Cambridge University and Tilburg University

  
  HOUSEHOLD PARTICIPATION IN INTERNATIONAL MARKETS: EMPIRICAL EVIDENCE FROM ITALY
Luca Di Gennaro, Univesity of Bologna, Department of Statistics "Paolo Fortunati"

 
  SPILLOVER EFFECTS, INEQUALITY, AND CYCLES: A TWO COUNTRY MODEL
Tomoo Kikuchi, Bielefeld University

  
  THE VALUATION CHANNEL OF EXTERNAL ADJUSTMENT
Fabio Ghironi, Boston College
Co-Authors: Jaewoo Lee, International Monetary Fund and Alessandro Rebucci, International Monetary Fund
  
11:30 - 13:30 CORPORATE FINANCE I (ESEM TAE)
Chairperson: Ulf von Kalckreuth, Deutsche Bundesbank, Economic Research Centre
Room U-31
  AGENTS (ALMOST) WITHOUT PRINCIPALS: MANAGERIAL INCENTIVES AND FIRM FINANCING WITHOUT ENFORCEABLE COMPENSATION CONTRACTS
Pablo Ruiz-Verdu, Universidad Carlos III de Madrid

  
  GOOD IPOS DRAW IN BAD: INELASTIC BANKING CAPACITY IN THE PRIMARY ISSUE MARKET
Thomas Noe, Tulane University
Co-Authors: Naveen Khanna, Michigan State University and Sonti Rammana, Indian Business School

  
  OPTIMAL REGULATION OF AUDITING
Giovanni Immordino, university of Salerno and CSEF
Co-Author: Marco Pagano, Universitŕ di Napoli Federico II

  
  WRECKING BEHAVIOUR AND THE OVERPRICING OF DISTRESSED COMPANIES
Ulf von Kalckreuth, Deutsche Bundesbank, Economic Research Centre
  
11:30 - 13:30 LABOUR MARKET II (ESEM TAE)
Chairperson: Carlos Carrillo-Tudela, University of Essex
Room U-23
  DO I HAVE WHAT IT TAKES? EQUILIBRIUM SEARCH WITH UNCERTAINTY ABOUT THE SELF
Uwe Sunde, IZA
Co-Authors: Armin Falk, University of Bonn and David Huffman, IZA, Bonn

  
  DYNAMIC EFFECTS OF REGULATION AND DEREGULATION IN GOODS AND LABOUR MARKETS
Ingrid Kubin, Vienna University of Economics and BA
Co-Author: Pasquale Commendatore, Universitŕ di Napoli ‘Federico II’

  
  EFFICIENCY OF SCREENING AND LABOR INCOME INEQUALITY
Itzhak Zilcha, Tel Aviv University
Co-Author: Bernhard Eckwert, University of Bielefeld

  
  RECRUITMENT POLICY WHEN FIRMS OBSERVE WORKERS' EMPLOYMENT STATUS: AN EQUILIBRIUM SEARCH APPROACH
Carlos Carrillo-Tudela, University of Essex
 
11:30 - 13:30 CONTRIBUTED SESSION 2
ESEM: Econometrics and Empirical Economics

11:30 - 13:30 AUCTIONS (ESEM EEE)
Chairperson: Stefan Frey, University of Tuebingen
Room J-33
  AUCTION DESIGN IN ORDER BOOK MARKETS:WHAT INFORMATION IS INFORMATIVE?
Stefan Frey, University of Tuebingen
Co-Author: Helena Beltran-Lopez, University of Pittsburgh

  
  BIDDING BEHAVIOR AND BIDDERS' PARTICIPATION IN SEQUENTIAL CATTLE AUCTIONS
Christine Zulehner, University Vienna

  
  RESERVE PRICES IN MULTI-UNIT AUCTIONS: THEORY AND ESTIMATION
Octavian Carare, University of Texas at Dallas

  
  TESTING FOR COMMON COSTS IN THE CITY OF HELSINKI BUS TRANSIT AUCTIONS
Janne Tukiainen, Univ. of Helsinki, FDPE, HECER
  
11:30 - 13:30 COINTEGRATION (ESEM EEE)
Chairperson: Myunghwan Seo, LSE
Room J-12
  A STATISTICAL ANALYSIS OF MULTICOINTEGRATION RELATIONSHIPS WITH REGIME SHIFTS
Vanessa Berenguer-Rico, University of Barcelona
Co-Author: Josep Lluis Carrion-i-Silvestre, Universidad de Barcelona

  
  COINTEGRATION FOR PERIODICALLY INTEGRATED PROCESSES
Tomás del Barrio Castro, University of Barcelona
Co-Author: Denise R. Osborn, University of Manchester

  
  ESTIMATION OF THRESHOLD COINTEGRATION
Myunghwan Seo, LSE

  
  STRUCTURAL VECTOR AUTOREGRESSIONS WITH NONNORMAL RESIDUALS
Markku Lanne, University of Jyvaskyla
Co-Author: Helmut Lutkepohl, EUI, Florence
  
11:30 - 13:30 CORPORATE FINANCE (ESEM EEE)
Chairperson: Seppo Pynnönen, University of Vaasa
Room J-43
  EVENT-STUDY METHODOLOGY: CORRECTION FOR CROSS-SECTIONAL CORRELATION IN STANDARDIZED ABNORMAL RETURN TESTS
Seppo Pynnönen, University of Vaasa
Co-Author: James Kolari, Texas A&M University, Mays Business School

  
  FINANCIAL CONSTRAINT AND INVESTMENT: EVIDENCE FOR LARGE COMPANIES IN THE NETHERLANDS
Amaresh Tiwari, Maastricht University
Co-Authors: Pierre Mohnen, Universiteit Maastricht, Franz Palm, Maastricht University and Sybrand Schim van der Loeff, Universiteit Maastricht

  
  HOW DOES OWNERS’ EXPOSURE TO IDIOSYNCRATIC RISK INFLUENCE THE CAPITAL STRUCTURE OF PRIVATE COMPANIES?
Elisabeth Mueller, ZEW, Mannheim, Germany

  
  MANAGERIAL POWER WORLDWIDE: HOW LEGAL INSTITUTIONS AFFECT TOP EXECUTIVE PAY
Steffen Brenner, Humboldt University Berlin
Co-Author: Joachim Schwalbach,
 
11:30 - 13:30 DEMAND ANALYSIS (ESEM EEE)
Chairperson: Arthur Lewbel, Boston College
Room U-28
  A DEMAND SYSTEM WITH SOCIAL INTERACTIONS: EVIDENCE FROM CEX
Giacomo Pasini, Dipartimento di Scienze Economiche, Universitŕ di Venezia

  
  A SEMIPARAMETRIC ANALYSIS OF GASOLINE DEMAND IN THE US: REEXAMINING THE IMPACT OF PRICE
Sebastiano Manzan, Department of Economics, University of Leicester

  
  THE EXCESS DEMAND FOR SUBSIDIZED CHILD CARE IN GERMANY
Katharina Wrohlich, DIW Berlin

  
  TRICKS WITH HICKS: THE EASI DEMAND SYSTEM
Arthur Lewbel, Boston College
Co-Author: Krishna Pendakur, Simon Fraser University
  
11:30 - 13:30 ECONOMICS OF EDUCATION (ESEM EEE)
Chairperson: Christian Belzil, CNRS (GATE)/ IZA
Room U-33
  BEYOND THE CLASSROOM: USING TITLE IX TO MEASURE THE RETURN TO HIGH SCHOOL SPORTS
Betsey Stevenson, Assistant Professor

  
  CAN RISK AVERSION EXPLAIN SCHOOLING ATTAINMENTS?
Christian Belzil, CNRS (GATE)/ IZA
Co-Author: marco Leonardi, University of Milano

  
  ESTIMATION OF CLASS-SIZE EFFECTS, USING THE ANGRIST-LAVY INSTRUMENT: THE CASE OF FRENCH JUNIOR HIGH SCHOOLS
Mohamed-Badrane Mahjoub, CES-TEAM Université de Paris 1 - Panthéon Sorbonne
Co-Author: Robert GARY-BOBO,

 
  MISREPORTED SCHOOLING, MULTIPLE MEASURES AND RETURNS TO EDUCATIONAL QUALIFICATIONS
Erich Battistin, Universitŕ di Padova
Co-Author: Barbara Sianesi, Institute for Fiscal Studies
  
11:30 - 13:30 EMPIRICAL FINANCE (ESEM EEE)
Chairperson: Olivier Scaillet, Geneva
Room U-16
  FALSE DISCOVERIES IN MUTUAL FUND PERFORMANCE: MEASURING LUCK IN ESTIMATED ALPHAS
Olivier Scaillet, Geneva
Co-Authors: Laurent Barras, University of Geneva and russ wermers, University of Maryland

  
  MARKET LINKAGES, VARIANCE SPILLOVER ANC CORRELATION STABILITY: EMPIRICAL EVIDENCES OF FINANCIAL CONTAGION
Massimiliano Caporin, Universitŕ degli Studi di Padova
Co-Author: Monica Billio, Dipartimento di scienze economiche, Universitŕ di Venezia

  
  OPPORTUNISTIC ADVICE OF FINANCIAL ANALYSTS: THEORY AND EVIDENCE.
Enrico Sette, London School of Economics and Bank of Italy

  
  TESTING NON-LINEAR DEPENDENCE AND MARKET TIMING ABILITY. AN APPLICATION TO THE HEDGE FUND INDUSTRY
Javier Mencia, Bank of Spain
  
11:30 - 13:30 EXACT INFERENCE (ESEM EEE)
Chairperson: Marc Paolella, University of Zurich
Room J-14
  APPROXIMATELY EXACT INFERENCE IN DYNAMIC PANEL MODELS
Marc Paolella, University of Zurich
Co-Authors: Simon broda, University of Zurich and Yianna Tchopourian, University of Zurich

  
  EXACT OPTIMAL AND ADAPTIVE INFERENCE IN LINEAR AND NONLINEAR MODELS UNDER HETEROSKEDASTICITY AND NON-NORMALITY OF UNKNOWN FORMS
Abderrahim Taamouti, Université de Montréal
Co-Author: Jean-Marie Dufour, Universite de Montreal

  
  FINITE SAMPLE COINTEGRATION TESTING USING WEAK TRENDS
Guillaume Chevillon, University of Oxford & Institute of Political Studies

  
  POWER PROPERTIES OF INVARIANT TESTS FOR SPATIAL AUTOCORRELATION IN LINEAR REGRESSION
Federico Martellosio, University of Amsterdam
  
11:30 - 13:30 HEALTH (ESEM EEE)
Chairperson: Yiguo Sun, University of Guelph
Room J-34
  ADDICTION AND THE INTERACTION BETWEEN ALCOHOL AND TOBACCO CONSUMPTION
Silvia Tiezzi, Department of Economics, University of Siena
Co-Author: Pierpaolo Pierani, University of Siena

  
  AN ADEQUATE MEASURE OF HEALTH INEQUITY WITH AN APPLICATION TO CANADIAN DATA
Yiguo Sun, University of Guelph

  
  HEALTH AND AGGREGATE WEALTH: THE INDIAN EVIDENCE
Sonia Bhalotra, University of Bristol

  
  THE IMPACT OF INCOME SHOCKS ON HEALTH: EVIDENCE FROM ENGLISH COHORTS
Hans-Martin von Gaudecker, Mannheim University
Co-Authors: Jerome Adda, University College London, Department of Economics and James Banks, University College London, Department of Economics
  
11:30 - 13:30 INTERNATIONAL TRADE (ESEM EEE)
Chairperson: Johannes Moenius, University of Redlands
Room J-44
  INSTITUTIONAL QUALITY, INFRASTRUCTURE, AND THE PROPENSITY TO EXPORT
Joseph Francois, Erasmus University Rotterdam, TI and CEPR
Co-Author: Miriam Manchin, Centro Studi Luca d'Agliano

  
  MEASURING COMPARATIVE ADVANTAGE - A RICARDIAN APPROACH
Johannes Moenius, University of Redlands

  
  PROTECTION FOR SALE OR SURGE PROTECTION?
Susumu Imai, Concordia University
Co-Authors: Hajime Katayama, Discipline of Economics, The University of Sydney and Kala Krishna, Department of Economics, Pennsylvania State University

  
  WHO LAST LONGER IN EXPORTING?
María E. Rochina-Barrachina, Universitat de Valencia and LINEEX
Co-Authors: Silviano Esteve-Pérez, Universitat de Valencia, Juan A. Máńez, Universitat de Valencia and LINEEX and Juan Sanchis, Univeristat de valencia & LINEEX
  
11:30 - 13:30 LONG MEMORY 1 (ESEM EEE)
Chairperson: Soren Johansen, Copenhagen
Room J-15
  A REPRESENTATION THEORY FOR A CLASS OF VECTOR AUTOREGRESSIVE MODELS FOR FRACTIONAL PROCESSES
Soren Johansen, Copenhagen

  
  GAUSSIAN PSEUDO-MAXIMUM LIKELIHOOD ESTIMATION OF FRACTIONAL TIME SERIES MODELS
Javier Hualde, Universidad de Navarra
Co-Author: Peter Robinson, LSE

  
  TESTS OF BIAS IN LOG-PERIODOGRAM REGRESSION
James Davidson, Exeter
Co-Author: Philipp Sibbertsen, University of Hannover

  
  UNIFORM CONFIDENCE BANDS FOR KERNEL REGRESSION ESTIMATES WITH DEPENDENT DATA
Javier Hidalgo, LSE
  
11:30 - 13:30 VOLATILITY 1 (ESEM EEE)
Chairperson: Jeremy Large, Economics Department, University of Oxford
Room U-32
  ESTIMATING QUADRATIC VARIATION WHEN QUOTED PRICES CHANGE BY A CONSTANT INCREMENT
Jeremy Large, Economics Department, University of Oxford

  
  ESTIMATION OF OBJECTIVE AND RISK-NEUTRAL DISTRIBUTIONS BASED ON MOMENTS OF INTEGRATED VOLATILITY
Pastorello Sergio, Dipartimento di Scienze Economiche, Universitŕ di Bologna

  
  MODELING AND FORECASTING IMPLIED VOLATILITY - AN ECONOMETRIC ANALYSIS OF THE VIX INDEX
Katja Ahoniemi, Helsinki School of Economics

  
  REALIZED COVARIANCE AND SCRAMBLING
Kevin Sheppard, Univeristy of Oxford
  
11:30 - 13:30 JEEA-FUNDACIÓN BBVA. SPECIAL EEA ANNIVERSARY SESSION A

11:30 - 13:30 JEEA- FUNDACIóN BBVA - SPECIAL EEA ANNIVERSARY SESSION A: THE ECONOMICS OF THE HUMAN ANIMALS" (EEA)
Chairperson: Paul Seabright, IDEI and Université de Toulouse - 1
Room GF
  NEUROECONOMICS EXPLORING THE BIOLOGICAL FOUNDATIONS OF SOCIAL BEHAVIOR
Ernst Fehr, University of Zurich

  
  THE ECONOMICS OF ORDINARY VICES - THE CASE OF OBESITY
Carol Propper, Bristol University

  
  CALCULATED VIOLENCE: THE IMPACT OF INCENTIVES ON PASSIONATE CHOICES
Philip Cook, Duke University

  
  THE ECONOMICS OF GENDER IN THE LIGHT OF BIOLOGY OF SEXUAL COMPETITION
Paul Seabright, IDEI and Université de Toulouse - 1
  
13:30 - 14:30 LUNCH TIME

13:30 - 14:30 JEEA LUNCH

14:30 - 16:30 CONTRIBUTED SESSION 3
EEA

14:30 - 16:30 CORPORATE FINANCE III (EEA)
Chairperson: Michel Robe, American University
Room J-32
  PENALTIES AND OPTIMALITY IN FINANCIAL CONTRACTS: TAKING STOCK
Michel Robe, American University
Co-Authors: Pierre-Armand Michel, U. of Liege and Eva-Maria Steiger, Max Planck Institute of Economics, Strategic Interaction Group, Jena

  
  CAPITAL MARKETS AND AGENCY COSTS
Steffen Brenner, Humboldt University Berlin

  
  OWNERSHIP, CONTROL AND LIQUIDITY
Malika Hamadi, université catholique de Louvain
Co-Author: Ronald Anderson, LSE
  
14:30 - 16:30 ECONOMIC DEVELOPMENT III (EEA)
Chairperson: Uwe Sunde, IZA
Room J-18
  HOBBES TO ROUSSEAU: INEQUALITY, INSTITUTIONS, AND DEVELOPMENT
Uwe Sunde, IZA
Co-Authors: Matteo Cervellati, University of Bologna, Italy and Piergiuseppe Fortunato, University of Bologna

  
  A GOLD RUSH THEORY OF ECONOMIC DEVELOPMENT
Ralph Ossa, London School of Economics

  
  COWS AND CONQUISTADORS: A COMMENT ON THE COLONIAL ORIGINS OF COMPARATIVE DEVELOPMENT
Torres Sebastian, University of Leicester
Co-Author: David Fielding, University of Otago

  
  ON THE WELFARE EFFECTS OF WORKING IN AGRICULTURE IN MOZAMBIQUE
Tilman Brück, DIW Berlin
Co-Author: Katleen Van den Broeck, World Bank
  
14:30 - 16:30 ECONOMIC GROWTH II (EEA)
Chairperson: Robert Hill, University of New South Wales
Room J-42
  CONVERGENCE OR DIVERGENCE: HOW TO GET THE ANSWER YOU WANT
Robert Hill, University of New South Wales

  
  TESTING FOR CONVERGENCE PROCESSES IN AN AUTOCORRELATION FUNCTION FRAMEWORK
Giovanni Caggiano, University of Glasgow
Co-Author: Leone Leonida, Queen Mary University of London

  
  DO MULTINATIONAL ENTERPRISES CONTRIBUTE TO CONVERGENCE OR DIVERGENCE? A DISAGGREGATED ANALYSIS OF US FDI
Peter Nunnenkamp, Kiel Institute for World Economics
Co-Author: David Mayer-Foulkes, Centro de Invstigacion y Docencia Economicas
  
14:30 - 16:30 TAXATION II (EEA)
Chairperson: Susanne Pech, University of Linz
Room J-21
  OPTIMUM TAXATION OF LIFE ANNUITIES
Susanne Pech, University of Linz
Co-Author: Johann K. Brunner, University of Linz

  
  PROBABILISTIC AGING
Dominik Grafenhofer, Institute for Advanced Studies, Vienna
Co-Authors: Christian Jaag, University Of St. Gallen, Mirela Keuschnigg, University Linz and University Of St. Gallen and Christian Keuschnigg, University Of St. Gallen

  
  INCOME TAXATION, TUITION SUBSIDIES, AND CHOICE OF OCCUPATION
Geir H. Bjertnćs, Statistics Norway
  
14:30 - 16:30 PUBLIC FINANCE III (EEA)
Chairperson: Ingrid Ott, University of Lueneburg
Room U-34
  PUBLIC INPUTS AND PRIVATE CAPITAL ADJUSTMENT
Ingrid Ott, University of Lueneburg
Co-Author: Susanne Soretz, University of Hannover

  
  PROVISION OF PUBLIC GOODS IN A RATEPAYER DEMOCRACY: RETRENCHMENT AND COLLECTIVE ACTION IN MID-VICTORIAN BRITAIN
toke aidt, University of Cambridge
Co-Authors: Martin Daunton, Universiyt of Cambridge and jaysri Dutta, University of Birmingham

  
  EXCESS BURDEN AND THE COST OF INEFFICIENCY IN PUBLIC SERVICES PROVISION
António Afonso, ECB and ISEG/UTL-Technical University of Lisbon
Co-Author: Vítor Gaspar, Banco de Portugal

  
  FAVORITISM IN PUBLIC PROCUREMENT: EVIDENCE FROM SWEDEN
Sofia Lundberg, Centre for regional science at Umeĺ University, CERUM
Co-Authors: Ari Hyytinen, Bank of Finland and Otto Toivanen, HECER
  
14:30 - 16:30 LABOUR MARKET - SEARCH AND MATCHING III (EEA)
Chairperson: Alain Delacroix, UQAM
Room U-46
  THE DYNAMICS OF LABOR MARKETS IN EUROPE AND THE US: SPECIFIC SKILLS OR EMPLOYMENT PROTECTION?
Alain Delacroix, UQAM
Co-Author: Etienne Wasmer, UQAM, CIRPÉE

  
  TESTING THEORIES OF JOB CREATION: DOES SUPPLY CREATE ITS OWN DEMAND?
Stefan Eriksson, Department of Economics, Uppsala University
Co-Authors: Mikael Carlsson, and Nils Gottfries, Department of Economics, Uppsala University

  
  STRUCTURAL NAD CYCLICAL UNEMPLOYMENT: WHAT CAN WE DERIVE FROM THE MATCHING FUNCTION?
Kamil Galuscak, Czech National Bank
Co-Author: Daniel Munich, CERGE_EI

  
  MARGINAL EMPLOYMENT IS A TRIP-WIRE
Andrea Weber, Institute for Advanced Studies
Co-Author: Rene Boeheim, Johannes Kepler University Linz and IZA Bonn
  
14:30 - 16:30 EMPIRICAL INDUSTRIAL ORGANIZATION III (EEA)
Chairperson: Jo Seldeslachts, WZB Berlin
Room J-16
  REMEDY FOR NOW BUT PREVENT FOR TOMORROW: THE DETERRENCE EFFECTS OF MERGER POLICY TOOLS
Jo Seldeslachts, WZB Berlin
Co-Authors: Pedro Barros, Nova de Lisboa and CEPr and Joe Clougherty, WZ Berlin and CEPR

  
  EVALUATING THE PERFORMANCE OF REGULATORY AGENCIES
Adriana Hernandez Perez, GREMAQ, Universite de Toulouse
Co-Author: Luiz Rangel, GREMAQ, Université de Toulouse

  
  DID US SAFEGUARD PROTECTION ON STEEL AFFECT MARKET POWER OF EUROPEAN STEEL PRODUCERS?
Ziga Zarnic, Catholic University of Leuven
Co-Author: Hylke Vandenbussche, Universite Catholique de Louvain, Department of Economics
  
14:30 - 16:30 ENVIRONMENTAL ECONOMICS III (EEA)
Chairperson: Marie-Françoise Calmette, Université Toulouse 1
Room J-52
  ON A GOVERNMENT'S ABILITY TO IMPLEMENT ENVIRONMENTAL POLICIES DURING TRADE LIBERALIZATION
Marie-Françoise Calmette, Université Toulouse 1

  
  ARE NIMBYS COMMUTERS?
Bert Saveyn, Catholic University Leuven

  
  DANISH MUNICIPALITIES’ MONITORING EFFORT
Signe Krarup, AKF
  
14:30 - 16:30 EXPERIMENTAL ECONOMICS II (EEA)
Chairperson: Thomas Dohmen, IZA
Room U-48
  PERFORMANCE PAY AND MULTI-DIMENSIONAL SORTING – PRODUCTIVITY, PREFERENCES AND GENDER
Thomas Dohmen, IZA
Co-Author: Armin Falk, University of Bonn

  
  INEQUALITY AVERSION AND STOCHASTIC DECISION-MAKING AFTER LAND REFORM: EXPERIMENTAL EVIDENCE FROM ZIMBABWEAN VILLAGES
Stefan Kohler, European University Institute

  
  RESPONSIBILITY FOR WHAT? AN EXPERIMENTAL APPROACH TO FAIRNESS AND RESPONSIBILITY
Erik Ř. Sřrensen, Norwegian School of Economics
Co-Authors: Tungodden Bertil, Norwegian School of Economics and Alexander W. Cappelen, Norwegian School of Economics

  
  COMMUNICATION, COOPERATION AND COLLUSION IN TEAM TOURNAMENTS - AN EXPERIMENTAL STUDY
Christina Strassmair, University of Munich
Co-Author: Matthias Sutter, University of Cologne
  
14:30 - 16:30 FINANCIAL MARKETS II (EEA)
Chairperson: Mathias Hoffmann, University of Dortmund
Room U-24
  PROPRIETARY INCOME, ENTREPRENEURIAL RISK, AND THE PREDICTABILITY OF U.S. STOCK RETURNS
Mathias Hoffmann, University of Dortmund

  
  STRATEGIC ASSET ALLOCATION, ASSET PRICE DYNAMICS, AND THE BUSINESS CYCLE
Ivan Jaccard, HEC Lausanne

  
  A PURE PRODUCTION-BASED ASSET PRICING MODEL
Frederico Belo, University of Chicago

  
  THE ROLE OF MARKET FRICTIONS FOR THE CONSUMPTION CAPM: A BOOTSTRAP INVESTIGATION
Fadi Zaher, University of Skövde
  
14:30 - 16:30 INFLATION AND PRICE SETTING II (EEA)
Chairperson: Jennifer Castle, Oxford University
Room J-13
  FORECASTING UK INFLATION: EMPIRICAL EVIDENCE ON ROBUST FORECASTING DEVICES
Jennifer Castle, Oxford University
Co-Author: David Hendry, Oxford University

  
  THE DYNAMICS OF EUROPEAN INFLATION EXPECTATIONS
Jonas Dovern, The Kiel Institute
Co-Authors: Joerg Doepke, Deutsche Bundesbank, Ulrich Fritsche, University Hamburg and DIW Berlin and Jirka Slacalek, DIW Berlin

  
  INFLATION DYNAMICS AND REGIME SHIFTS
Julia Lendvai, University of Namur

  
  INFLATION, INVESTMENT COMPOSITION AND TOTAL FACTOR PRODUCTIVITY
Stefan Niemann, University of Bonn
Co-Authors: Michael Paul Evers, Center for European Integration Studies, Bonn and Marc Schiffbauer, University of Bonn
  
14:30 - 16:30 INNOVATION AND PRODUCTIVITY I (EEA)
Chairperson: Hannu Piekkola, ETLA
Room J-17
  KNOWLEDGE CAPITAL AS THE SOURCE OF GROWTH
Hannu Piekkola, ETLA

  
  OUTSOURCING, CONTRACTS, AND INNOVATION NETWORKS
Alireza Naghavi, University of Modena and Reggio Emilia
Co-Author: Gianmarco Ottaviano, University of Bologna

  
  CHARACTERISTICS OF TECHNOLOGICAL AND ORGANISATIONAL INNOVATIONS
Martin Falk, WIFO

  
  ENDOGENOUS ACCELERATION OF TECHNOLOGICAL CHANGE
Philipp Koellinger, DIW Berlin
Co-Author: Christian Schade, Humboldt-Universität zu Berlin
  
14:30 - 16:30 INTERNATIONAL TRADE II (EEA)
Chairperson: Susanne Droege, DIW Berlin
Room U-21
  ECOLOGICAL LABELLING IN NORTH-SOUTH TRADE
Susanne Droege, DIW Berlin
Co-Author: Wilhelm Althammer, HHL - Leipzig Graduate School of Management

  
  PUBLIC INFORMATION, PRIVATE EXPECTATIONS, AND INTERNATIONAL TRADE
Benjamin Jung, University of Tübingen
Co-Author: Gabriel Felbermayr, Assistant Professor

  
  CONVERGENCE IN A STOCHASTIC DYNAMIC HECKSCHER-OHLIN MODEL
Malik Shukayev, Bank of Canada

  
  TRADE INTEGRATION AND THE DESTINATION OF PUBLIC EXPENDITURES
Nelly Exbrayat, CREUSET, University of Saint-Etienne
Co-Authors: Carl Gaigné, INRA-ESR, Rennes and Stéphane Riou, Creuset, University of Saint-Etienne
  
14:30 - 16:30 INVESTMENT AND ENTREPRENEURSHIP II (EEA)
Chairperson: Christian Bayer, University of Dortmund
Room J-51
  (NON?-)CONVEX COSTS OF FACTOR ADJUSTMENT AND THE GAP-MODEL: EVIDENCE FROM A MONTE CARLO EXPERIMENT.
Christian Bayer, University of Dortmund

  
  ENTREPRENEURSHIP, WINDFALL GAINS AND FINANCIALCONSTRAINTS: EVIDENCE FROM A CROSS–COUNTRY STUDY
Dorothea Schaefer, DIW-Berlin
Co-Author: OLEKSANDR TALAVERA, DIW-Berlin

  
  THE RESPONSE OF FIRMS‘ INVESTMENT AND FINANCING TO ADVERSE CASH FLOW SHOCKS: THE ROLE OF BANK RELATIONSHIP
Vermeulen Philip, ECB
Co-Author: Catherine Fuss, National Bank of Belgium
  
14:30 - 16:30 LABOUR MARKET - EMPIRICAL STUDIES III (EEA)
Chairperson: Monika Merz, University of Bonn, Germany
Room U-41
  COLLECTIVE FEMALE LABOR SUPPLY: EVIDENCE FROM GERMANY
Monika Merz, University of Bonn, Germany

  
  SLOWLY, BUT CHANGING: HOW DOES GENUINE STATE DEPENDENCE AFFECT FEMALE LABOR SUPPLY ON THE EXTENSIVE AND INTENSIVE MARGIN?
Peter Haan, DIW Berlin

  
  PART-TIME WORK AND OCCUPATIONAL ATTAINMENT AMONGST A COHORT OF BRITISH WOMEN
Victoria Prowse, Nuffield College, Oxford

  
  GENDER WAGE DIFFERENTIALS AND THE OCCUPATIONAL INJURY RISK: EVIDENCE FROM GERMANY AND THE US
Sandra Schaffner, RWI Essen
  
14:30 - 16:30 LABOUR MARKET - EMPIRICAL STUDIES IV (EEA)
Chairperson: Thijs van Rens, CREI - Centre de Recerca en Economia Internacional
Room U-50
  PREDICTABLE LIFE-CYCLE SHOCKS, INCOME RISK AND CONSUMPTION INEQUALITY
Thijs van Rens, CREI - Centre de Recerca en Economia Internacional
Co-Author: Giorgio Primiceri, Northwestern University

  
  TOO OLD TO WORK, TOO YOUNG TO RETIRE?
Guido Schwerdt, European University Institute
Co-Author: Andrea Ichino, European University Institute and Universita' di Bologna

  
  THE EFFECT OF PLANT DOWNSIZING ON DISABILITY PENSION UTILIZATION
Kjetil Telle, Statistics Norway, Research Department
Co-Authors: Votruba Mark, Case Western Reserve University and Mari Rege, Case Western Reserve University

  
  THE EARNINGS COSTS OF BUSINESS CLOSURE IN THE UK
Alexander Hijzen,
Co-Authors: Richard Upward, University of Nottingham and Peter Wright,
 
14:30 - 16:30 POLITICAL ECONOMY III (EEA)
Chairperson: Grégoire Rota Graziosi, CERDI-CNRS
Room J-11
  POLITICAL INTEGRATION: STRATEGIC DELEGATION AND RATIFICATION
Grégoire Rota Graziosi, CERDI-CNRS

  
  CONSTITUTIONS AND THE RESOURCE CURSE
Silje Aslaksen, PhD Student
Co-Author: Jřrgen Juel Andersen, Norwegian University of Technology and Science (NTNU)

  
  DICTATORS AND THEIR VIZIERS: AGENCY PROBLEMS IN DICTATORSHIPS
Georgy Egorov, Harvard University
Co-Author: Konstantin Sonin, New Economic School

  
  A SIMPLE THEORY OF RENT SEEKING WITH INFORMATIONAL FOUNDATIONS
Johan Lagerlöf, Royal Holloway
  
14:30 - 16:30 POLITICAL ECONOMY IV (EEA)
Chairperson: Nicolas Sahuguet, HEC Montréal
Room J-31
  RE-ELECTION INCENTIVES AND THE SUSTAINABILITY OF INTERNATIONAL COOPERATION
Nicolas Sahuguet, HEC Montréal
Co-Author: Paola Conconi, Universite'' Libre de Bruxelles (ECARES), University of Warwick and CEPR

  
  DOES THE QUALITY OF THE JUDICIARY SHAPE ECONOMIC ACTIVITY? EVIDENCE FROM A JUDICIAL REFORM IN INDIA.
Matthieu Chemin, University of Quebec at Montreal

  
  MORAL HAZARD AND FREE RIDING IN COLLECTIVE ACTION
Vincent Anesi, GREMAQ, University of Toulouse

  
  POLITICAL BUDGET CYCLES AND FISCAL DECENTRALIZATION
Paula Gonzalez, UNIVERSIDAD PABLO DE OLAVIDE
Co-Authors: Jean Hindriks, CORE, Ben Lockwood, University of Warwick and Nicolás Porteiro, Universidad Pablo de Olavide
  
14:30 - 16:30 INTERNATIONAL FINANCE III (EEA)
Chairperson: Richard Portes, London Business School and CEPR
Room U-47
  OPTIMAL CURRENCY SHARES IN INTERNATIONAL RESERVES: THE IMPACT OF THE EURO AND THE PROSPECTS FOR THE DOLLAR
Richard Portes, London Business School and CEPR
Co-Authors: Siourounis Gregorios, London Business School and Elias Papaioannou, European Central Bank

  
  FINANCIAL INTEGRATION, INTERNATIONAL PORTFOLIO CHOICE AND THE EUROPEAN MONETARY UNION
Roberto De Santis, European Central Bank
Co-Author: Bruno Gerard, Norwegian School of Management BI

  
  EXCHANGE RATE STABILITY, INFLATION AND GROWTH IN (SOUTH) EASTERN AND CENTRAL EUROPE
Gunther Schnabl, Tuebingen University
Co-Author: Paul De Grauwe, Catholic University Leuven

  
  THE DETERMINANTS AND EXCESSIVENESS OF CURRENT ACCOUNT DEFICITS IN TRANSITION COUNTRIES
Aleksander Aristovnik, Faculty of Administration
  
14:30 - 16:30 INDUSTRIAL ORGANISATION III (EEA)
Chairperson: Stefan Buehler, University of Zurich
Room J-61
  INTIMIDATING COMPETITORS - ENDOGENOUS VERTICAL INTEGRATION AND DOWNSTREAM INVESTMENT IN SUCCESSIVE OLIGOPOLY
Stefan Buehler, University of Zurich
Co-Author: Armin Schmutzler, University of Zurich

  
  WORD-OF-MOUTH COMMUNICATION, SWITCHING COSTS, AND THE VALUE OF MARKET SHARE
Robert Christian Schmidt, Ph.D. student

  
  ARTISTIC MARKETS AND INTELLECTUAL PROPERTY RIGHTS
Miguel Gonzalez-Maestre, Universidad de Murcia
Co-Author: Francisco Alcala, Universidad de Murcia

  
  FIRMS, NONPROFITS, AND COOPERATIVES: THE ROLE OF ORGANIZATIONAL FORM IN THE PROVISION OF QUALITY
Patrick Herbst, Goethe University Frankfurt
Co-Author: Jens Prüfer, Goethe University Frankfurt
  
14:30 - 16:30 MONETARY POLICY III (EEA)
Chairperson: Helmut Wagner, University of Hagen
Room J-62
  MONETARY POLICY AND ASSET PRICES: MORE BAD NEWS FOR ‘BENIGN NEGLECT’
Helmut Wagner, University of Hagen

  
  OPTIMAL DISCRETIONARY MONETARY POLICY UNDER DOWNWARD NOMINAL WAGE RIGIDITY
Westermark Andreas, Department of Economics, Uppsala University
Co-Author: Mikael Carlsson,

 
  MONETARY POLICY AND THE DISTRIBUTION OF MONEY AND CAPITAL
Yahong Zhang, Bank of Canada
Co-Author: Miguel Molico, University of Western Ontario

  
  MONETARY POLICY WITH HETEROGENEOUS AGENTS AND CREDIT CONSTRAINTS
Xavier Ragot, CNRS-PSE
Co-Author: Algan Yann, OEP and PSE
  
14:30 - 16:30 EDUCATION AND WELFARE PROGRAMS I (EEA)
Chairperson: Beatrice S. Rangvid, Institute of Local Government Studies
Room J-41
  LIVING AND LEARNING SEPARATLY? ETHNIC SEGREGATION OF SCHOOL CHILDREN IN COPENHAGEN
Beatrice S. Rangvid, Institute of Local Government Studies

  
  PUBLIC INVESTMENT AND HIGHER EDUCATION INEQUALITY
Berardino Cesi, UNIVERSITY OF ROME TOR VERGATA and Berardino Cesi, University of Rome Tor Vergata

  
  PRODUCTIVITY OF SCHOOLS: THE ROLE OF SCHOOL POLICIES AND INSTITUTIONS – A STOCHASTIC FRONTIER APPROACH
Thomas Fuchs, Ifo Institute at the University of Munich

  
  ADMISSION TO SELECTIVE SCHOOLS, ALPHABETICALLY
Stepan Jurajda, CERGE-EI
Co-Author: Daniel Munich, CERGE_EI
  
14:30 - 16:30 CONTRIBUTED SESSION 3
ESEM: Theoretical and Applied Economics

14:30 - 16:30 COLLECTIVE DECISION MAKING: THEORY AND PREDICTIONS (ESEM TAE)
Chairperson: Udo Ebert, University of Oldenburg
Room U-30
  COLLECTIVE ECONOMIC DECISIONS AND THE DISCURSIVE DILEMMA
Carl Andreas Claussen, Norges Bank
Co-Author: Řistein Rřisland, Norges Bank

  
  INEQUITY AVERSION MAY INCREASE INEQUITY
Maria Montero, University of Nottingham

  
  LEARNING FROM A PIECE OF PIE: THE EMPIRICAL CONTENT OF NASH BARGAINING
Olivier Donni, University of Cergy-Pontoise
Co-Author: Pierre-André Chiappori, Columbia University

  
  THE EVALUATION OF NONMARKET GOODS: RECOVERING PREFERENCES IN HOUSEHOLD PRODUCTION MODELS
Udo Ebert, University of Oldenburg
  
14:30 - 16:30 CONTRACT THEORY (ESEM TAE)
Chairperson: Anastasia Kartasheva, Georgia State University
Room U-42
  CONTRACT ADJUSTMENT UNDER UNCERTAINTY
Steinar Holden, University of Oslo
Co-Authors: Lars Holden, Norwegian Computing Center and Helge Holden, NTNU

  
  CONTRACTING WITH IMPERFECT COMMITMENT AND NOISY COMMUNICATION
Helmut Bester, Free University Berlin
Co-Author: Roland Strausz, Free University Berlin

  
  ROBUST INCENTIVES
Soenje Reiche, University of Cambridge

  
  THE REVELATION PRINCIPLE UNDER SEQUENTIAL CONTRACTING
Anastasia Kartasheva, Georgia State University
  
14:30 - 16:30 INVESTMENT (ESEM TAE)
Chairperson: Xia Su,
Room J-63
  EQUILIBRIUM INVESTMENT IS REDUCED IF WE ALLOW FOR FORWARD CONTRACTS
Gregor Zoettl, CORE - UCL
Co-Author: Veronika Grimm, University of Cologne

  
  INVESTMENT UNDER UNCERTAINTY WITH THE BEST AND WORST IN MIND
David Schroeder, CREST and BGSE

  
  NETWORK STRUCTURE, RISK AND STRATEGIC INVESTMENTS: AN EXPERIMENTAL ANALYSIS
Stephanie Rosenkranz, Utrecht University
Co-Author: Utz Weitzel, Utrecht School of Economics

  
  ON IRREVERSIBLE INVESTMENT
Xia Su,
Co-Author: Frank Riedel, University of Bonn
  
14:30 - 16:30 MEDIA (ESEM TAE)
Chairperson: Fabrizio Germano, Universitat Pompeu Fabra
Room J-22
  A MODEL OF MEDIA PANDERING
Elena Panova, UQAM

  
  EXCLUSIVE VS OVERLAPPING VIEWERS: TWO-SIDED MULTI-HOMING IN MEDIA MARKETS
Markus Reisinger, University of Munich
Co-Author: Attila Ambrus, Harvard University

  
  MASS MEDIA AND SPECIAL INTEREST GROUPS
Maria Petrova, Harvard University

  
  WHAT DO THE PAPERS SELL?
Fabrizio Germano, Universitat Pompeu Fabra
Co-Author: Matthew Ellman, Universitat Pompeu Fabra
  
14:30 - 16:30 MONETARY THEORY (ESEM TAE)
Chairperson: Michael Kumhof, International Monetary Fund - IMF
Room J-sem 20
  DIVISIBLE MONEY WITH PARTIALLY DIRECTED SEARCH
Dror Goldberg, texas a&m university

  
  LEARNING AND INFLATION CYCLES
Ryo Horii, Osaka University
Co-Author: Yoshiyasu Ono, Osaka University

  
  MONETARY AND FISCAL POLICY INTERACTIONS IN A NEW KEYNESIAN MODEL WITH CAPITAL ACCUMULATION AND NON-RICARDIAN CONSUMERS
Leopold von Thadden, European Central Bank
Co-Author: Campbell Leith, University of Glasgow

  
  OPTIMAL PRICE SETTING AND INFLATION INERTIA IN A RATIONAL EXPECTATIONS MODEL
Michael Kumhof, International Monetary Fund - IMF
Co-Authors: Michael Juillard, CEPREMAP, Ondra Kamenik, Czech National Bank and Douglas Laxton, INTERNATIONAL MONETARY FUND
  
14:30 - 16:30 OPEN ECONOMY MACROECONOMICS (ESEM TAE)
Chairperson: Ester Faia, Universitat Pompeu Fabra
Room U-7
  DEBT, DEFICITS, AND DESTABILIZING MONETARY POLICY IN OPEN ECONOMIES
Andreas Schabert, University of Amsterdam
Co-Author: Sweder J.G. van Wijnbergen, University of Amsterdam

  
  FINANCIAL OPENNESS AND MACROECONOMIC VOLATILITY IN A SMALL OPEN ECONOMY
Haiping Zhang, University of Bonn
Co-Author: Jürgen von Hagen, ZEI, University of Bonn, Indiana University, CEPR

  
  PATHS OF DEVELOPMENT IN OPEN ECONOMIES: THE ROLE OF LAND
Fidel Perez-Sebastian, Universidad de Alicante
Co-Author: Maria Dolores Guillo, Universidad de Alicante

  
  STATE-DEPENDENT NOMINAL RIGIDITIES & DISINFLATION PROGRAMS IN SMALL OPEN ECONOMIES
Kolver Hernandez, University of Delaware

  
  SUSTAINABLE PRICE STABILITY POLICIES IN A CURRENCY AREA WITH FREE-RIDING FISCAL POLICIES
Ester Faia, Universitat Pompeu Fabra
  
14:30 - 16:30 R&D AND THEORY OF THE FIRM (ESEM TAE)
Chairperson: Etienne Billette de Villemeur, University of Toulouse (IDEI & GREMAQ)
Room J-53
  COMMITTTEES AND CONSULTANTS
Uwe Dulleck, University of Vienna and University of Linz
Co-Author: Hans W. Friederiszick, RACR Consulting

  
  CONTRACTING FOR AN INNOVATION UNDER BILATERAL ASYMMETRIC INFORMATION
Jean-Christophe Poudou, LASER
Co-Authors: David Martimort, University of Toulouse I and Wilfried Sand-Zantman, LASER (Montpellier) and IDEI (Toulouse)

  
  COORDINATION COSTS: A DRAWBACK FOR RESEARCH JOINT VENTURES?
Joanna Poyago-Theotoky, Loughborough University
Co-Authors: Rod Falvey, University of Nottingham and Khemarat Teerasuwannajak, Ministry of Foreign Affairs, Thailand

  
  EFFICIENT R&D DELEGATION
Etienne Billette de Villemeur, University of Toulouse (IDEI & GREMAQ)
Co-Author: Bruno Versaevel, E.M. Lyon
  
14:30 - 16:30 TAXATION I (ESEM TAE)
Chairperson: Martin Hellwig, Max Planck Institute, Collective Goods
Room U-31
  ARE CANADIAN EQUALIZATION PAYMENTS PROGRESSIVE? A BIDIMENSIONAL DOMINANCE ANSWER.
Benoit Tarroux, GREQAM IDEP

  
  OPTIMAL NON-LINEAR INCOME TAX WHEN AGENTS VOTE WITH THEIR FEET
Laurent Simula, EHESS, IDEP and GREQAM
Co-Author: Alain Trannoy, EHESS, IDEP-GREQAM

  
  THE GEOMETRY OF OPTIMAL TAXATION: A PRIMAL APPROACH
Martin Barbie, University of Karlsruhe
Co-Author: Claudia Hermeling, University of Karlsruhe

  
  THE UNDESIRABILITY OF RANDOMIAZED INCOME TAXATION UNDER DECREASING RISK AVERSION
Martin Hellwig, Max Planck Institute, Collective Goods
  
14:30 - 16:30 WELFARE ECONOMICS (ESEM TAE)
Chairperson: Ambec Stefan, INRA-GAEL, University of Grenoble
Room U-23
  HETEROGENEITY AND THE LONG-RUN EFFECTS OF PUBLIC POLICY: REVIVING THE REPRESENTATIVE INDIVIDUAL
Frank C. Krysiak, Technische Universität Berlin

  
  IDIOSYNCRATIC RISK AND ECONOMIC POLICY
Herakles Polemarchakis, University of Warwick
Co-Author: Andres Carvajal, Royal Holloway College, University of London

  
  ON AGGREGATION, HETEROGENEOUS AGENTS AND STATE-DEPENDENT PRICING
Vladislav Damjanovic, University of St. Andrews
Co-Author: Charles Nolan, University of St. Andrews

  
  SHARING A COMMON RESOURCE WITH CONCAVE BENEFITS
Ambec Stefan, INRA-GAEL, University of Grenoble
  
14:30 - 16:30 FINANCIAL MARKETS I (ESEM TAE)
Chairperson: Tarek Alexander Hassan, Harvard University
Room J-sem 10
  ACQUISITION OF INFORMATION AND SHARE PRICES: AN EMPIRICAL INVESTIGATION OF COGNITIVE DISSONANCE
Elena Argentesi, University of Bologna
Co-Authors: Helmut Lutkepohl, EUI, Florence and Massimo Motta, European University Institute

  
  AGGREGATION OF INFORMATION AND BELIEFS IN PREDICTION MARKETS
Marco Ottaviani, London Business School
Co-Author: Peter Norman Sorensen, University of Copenhagen

  
  HERD BEHAVIOR IN FINANCIAL MARKETS: A STRUCTURAL ESTIMANTION
Antonio Guarino, Department of Economics, UCL
Co-Author: Marco Cipriani, George Washington University

  
  THE SOCIAL COST OF NEAR-RATIONAL INVESTMENT
Tarek Alexander Hassan, Harvard University
Co-Author: Thomas Mertens, Harvard University
  
14:30 - 16:30 CONTRIBUTED SESSION 3
ESEM: Econometrics and Empirical Economics

14:30 - 16:30 ARCH MODELS 1 (ESEM EEE)
Chairperson: Paolo Paruolo , Insubria
Room J
  MULTIVARIATE ARCH WITH SPATIAL EFFECTS FOR STOCK SECTOR AND SIZE
Paolo Paruolo , Insubria
Co-Author: Massimiliano Caporin, Universitŕ degli Studi di Padova

  
  PARAMETERIZING UNCONDITIONAL SKEWNESS IN MODELS FOR FINANCIAL TIME SERIES
Annastiina Silvennoinen, Stockholm School of Economics
Co-Authors: Changli He, Stockholm School of Economics and Timo Teräsvirta, Stockholm School of Economics

  
  REGIME SWITCHING GARCH MODELS
Arie Preminger, CORE, Universite'' Catholique de Louvain
Co-Authors: Luc Bauwens, CORE and department of Economics, Universite' catholique de Louvain and Jeroen Rombouts, HEC Montreal, CIRANO, CIRPEE and CREF

  
  STABILITY OF NONLINEAR AR-GARCH MODELS
Mika Meitz, Stockholm School of Economics
Co-Author: Pentti Saikkonen, Helsinki
  
14:30 - 16:30 BAYESIAN METHODS 2 (ESEM EEE)
Chairperson: Lennart Hoogerheide, Erasmus University Rotterdam
Room J-33
  BAYESIAN INFERENCE IN A COINTEGRATING PANEL DATA MODEL
Rodney Strachan, University of Leicester
Co-Authors: Gary Koop, University of Strathclyde and Roberto León-González, University of Leicester

  
  NATURAL CONJUGATE PRIORS FOR THE INSTRUMENTAL VARIABLES REGRESSION MODEL APPLIED TO THE ANGRIST-KRUEGER DATA
Lennart Hoogerheide, Erasmus University Rotterdam
Co-Authors: Frank Kleibergen, Brown University and Herman K. Van Dijk, Econometric Institute, Erasmus University Rotterdam

  
  SEMIPARAMETRIC BAYESIAN INFERENCE FOR INFERRING QUANTILE TREATMENT EFFECTS
Markus Jochmann, University of Konstanz

  
  SMALL-SAMPLE PERFORMANCE OF LINEAR ESTIMATORS IN AUTOREGRESSIONS WITH COMMON SEASONALS: AN EXAMPLE FOR BAYESIAN MONTE CARLO EVALUATION OF CLASSICAL ESTIMATORS
Robert Kunst, University of Vienna
  
14:30 - 16:30 COINTEGRATION 2 (ESEM EEE)
Chairperson: Kees Jan van Garderen, University of Amsterdam
Room U-16
  CONDITIONAL INFERENCE IN THE COINTEGRATED VECTOR AUTOREGRESSIVE MODEL
Kees Jan van Garderen, University of Amsterdam

  
  FINITE SAMPLE PROPERTIES OF IMPULSE RESPONSE INTERVALS IN SVECMS WITH LONG-RUN IDENTIFYING RESTRICTIONS
Ralf Brueggemann, Humboldt-University Berlin

  
  IMPROVEMENT OF THE LR TEST STATISTIC ON THE COINTEGRATING RELATIONS IN VAR MODELS: BOOTSTRAP METHODS AND APPLICATIONS
Alessandra Canepa, HM TREASURY - DMO

  
  SMALL SAMPLE POWER OF BARTLETT CORRECTED LIKELIHOOD RATIO TEST OF COINTEGRATION RANK
Piotr Kębłowski, University of Lodz
  
14:30 - 16:30 ECONOMICS OF EDUCATION 2 (ESEM EEE)
Chairperson: Alexander Tieman, IMF
Room J-43
  ECONOMIC INTEGRATION AND FINANCIAL STABILITY: A EUROPEAN PERSPECTIVE
Alexander Tieman, IMF
Co-Author: Gianni De Nicolo, IMF

  
  EDUCATION POLICY AND EQUALITY OF OPPORTUNITY
Gabriela Schütz, Ifo Institute at the University of Munich
Co-Authors: Heinrich Ursprung, University of Konstanz and Ludger Woessmann, Ifo Institute, University of Munich

  
  THE INFORMATION BASIS OF MATCHING IN TREATMENT EFFECT: UNDERSTANDING PROPENSITY
Esfandiar Maasoumi, Southern Methodist University

  
  THE SAVINGS BEHAVIOR OF TEMPORARY AND PERMANENT MIGRANTS IN GERMANY
Thomas Bauer, RWI Essen
Co-Author: Mathias Sinning, RWI Essen
  
14:30 - 16:30 EXCHANGE RATES (ESEM EEE)
Chairperson: Diana Weymark, Vanderbilt University
Room J-34
  FUNDAMENTALS BASED EXCHANGE RATE PREDICTION REVISITED
Jan J J Groen, Bank of England

  
  LONG SWINGS IN JAPAN'S CURRENT ACCOUNT AND IN THE YEN
Nikolas Müller-Plantenberg, Universidad Carlos III de Madrid

  
  MEASURING THE IMPACT OF INTERVENTION ON EXCHANGE MARKET PRESSURE
Diana Weymark, Vanderbilt University
Co-Author: Pierre Siklos, Wilfrid Laurier University

  
  THE EQUILIBRIUM EXCHANGE RATE: VEQCM APPROACH
Aleksander Welfe, University of Lodz
Co-Author: Piotr Kębłowski, University of Lodz
  
14:30 - 16:30 EXPERIMENTS 1 (ESEM EEE)
Chairperson: Wei-Kang Wong, Department of Economics, National University of Singapore
Room U-28
  HOW MUCH TIME-INCONSISTENCY IS THERE AND DOES IT MATTER? EVIDENCE ON SELF-AWARENESS, SIZE, AND EFFECTS
Wei-Kang Wong, Department of Economics, National University of Singapore

  
  SCREENING DISABILITY INSURANCE APPLICATIONS
Bas van der Klaauw, Free University Amsterdam
Co-Authors: Philip de Jong, and Maarten Lindeboom,

 
  STATE DEPENDENCE IN SEQUENTIAL EQUITY JUDGEMENTS
Joachim Jungeilges, Agder University College
Co-Author: Theis Theisen, Agder University College

  
  TRUST, REPUTATION, AND COMPETITION
Gabriele K. Ruchala, University of Erfurt
Co-Authors: Steffen Huck, University College London & ELSE and Jean-Robert Tyran, University of Copenhagen
  
14:30 - 16:30 INFLATION (ESEM EEE)
Chairperson: Mayoral Laura, University Pompeu Fabra
Room U-32
  A FRAMEWORK FOR FORECASTING THE COMPONENTS OF THE CONSUMER PRICE INDEX: APPLICATION TO SOUTH AFRICA
Janine Aron, CENTRE FOR THE STUDY OF AFRICAN ECONOMIES, DEPARTMENT OF ECONOMICS, OXFORD
Co-Authors: JOHN MUELLBAUER, OXFORD and Coen Pretorius,

 
  TESTING THE NEW KEYNESIAN MODEL ON U.S. AND EUROPEAN DATA
Mikael Juselius, University of Helsinki

  
  THE NEW KEYNESIAN PHILLIPS CURVE FOR A SMALL OPEN ECONOMY
Pĺl Boug,
Co-Authors: Ĺdne Cappelen, Statistics Norway and Anders Rygh Swensen, University of Oslo

  
  THE PERSISTENCE OF INFLATION IN OECD COUNTRIES: A FRACTIONALLY INTEGRATED APPROACH
Mayoral Laura, University Pompeu Fabra
Co-Author: Maria Dolores Gadea, University of Zaragoza
  
14:30 - 16:30 LIFE CYCLE AND RETIREMENT (ESEM EEE)
Chairperson: Laura Crespo, University of Alicante
Room J-44
  PARENTAL CAREGIVING AND EMPLOYMENT STATUS OF EUROPEAN MID-LIFE WOMEN
Laura Crespo, University of Alicante

  
  PEOPLE I KNOW: SOCIAL NETWORKS AND JOB SEARCH OUTCOMES
Federico Cingano, Bank of Italy
Co-Author: Alfonso Rosolia, BANK OF ITALY

  
  RETIREMENT CHOICES IN ITALY: WHAT AN OPTION VALUE MODEL CAN TELL US
Michele Belloni, CeRP
Co-Author: Rob Alessie, University of Utrecht and CentER

  
  THE SOCIAL MULTIPLIER AND LABOUR MARKET PARTICIPATION OF MOTHERS
Julie Moschion, Eurequa-CES
Co-Author: Eric Maurin, paris-Jourdan sciences economiques
  
14:30 - 16:30 MACROECONOMETRICS 2 (ESEM EEE)
Chairperson: David Edgerton, Lund University, Dept of Economics
Room J-14
  COMPARING ALTERNATIVE PHILLIPS CURVE SPECIFICATIONS: EUROPEAN RESULTS WITH SURVEY-BASED EXPECTATIONS
Maritta Paloviita, Bank of Finland

  
  PRIOR FOR GROWTH RATES, SMALL SAMPLE BIAS AND THE EFFECTS OF MONETARY POLICY
Marek Jarocinski, Universitat Pompeu Fabra and CASE, Warsaw
Co-Author: Albert Marcet, Universitat Pompeu Fabra

  
  TESTING THE BARRO-GORDON MODEL IN BREAKING AND DEPENDENT PANELS: EVIDENCE FROM THE OECD COUNTRIES
David Edgerton, Lund University, Dept of Economics
Co-Authors: Sayed Basher, Department of Economics, York University and Joakim Westerlund, Lund University, Department of Economics

  
  TESTING THE NEW KEYNESIAN PHILLIPS CURVE THROUGH VECTOR AUTOREGRESSIVE MODELS: RESULTS FROM THE EURO AREA
Luca Fanelli, University of Bologna
  
14:30 - 16:30 MICROECONOMETRICS (ESEM EEE)
Chairperson: Yongil Jeon, Central Michigan University
Room J-15
  BUILDING ECONOMETRIC MODELS WITH LARGE DATA SETS
Yongil Jeon, Central Michigan University

  
  MARGINAL EFFECTS FOR COMPETING RISKS MODELS WITH PIECEWISE-CONSTANT HAZARDS
Tomi Kyyra, VATT

  
  PARTIAL LIKELIHOOD ESTIMATION OF A COX MODEL WITH RANDOM EFFECTS: AN EM ALGORITHM BASED ON PENALIZED LIKELIHOOD
Guillaume Horny, BETA-Theme

  
  THE DESIGN OF QUALITY PRICING IN PROCUREMENT SETTINGS VIA TECHNOLOGY ESTIMATION
Angelo Zago, University of Verona
Co-Author: Robert G. Chambers, University of Maryland
  
14:30 - 16:30 NONPARAMETRIC HETEROGENEITY (ESEM EEE)
Chairperson: Andrew Chesher, University College London
Room U-33
  IDENTIFICATION WITH EXCESS HETEROGENEITY
Andrew Chesher, University College London

  
  GENERALIZED NONPARAMETRIC DECONVOLUTION WITH AN APPLICATION TO EARNINGS DYNAMICS
Jean Marc Robin, Paris
Co-Author: Stéphane Bonhomme, CEMFI (madrid)

  
  RECONSIDERING THE RANDOM COEFFICIENT MODEL
Stefan Hoderlein, Mannheim
Co-Authors: Jussi Klemelä, Mannheim University and Enno Mammen, Mannheim University

  
  SEMI-NONPARAMETRIC COMPETING RISKS ANALYSIS OF RECIDIVISM
Herman Bierens, Pennsylvania State University
Co-Author: Jose Carvalho, Universidade Federal do Ceara
  
16:30 - 17:00 COFFEE BREAK

17:00 - 19:00 ES PRESIDENTIAL ADDRESS

19:00 ES MEMBER MEETING

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