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 14:03:16

THURSDAY 24 AUGUST 2006


DAY OVERVIEW
12:00 - 19:00 REGISTRATION
15:00 - 17:00 CONTRIBUTED SESSION 1 ESEM Econometrics
15:00 - 17:00 CONTRIBUTED SESSION 1 ESEM Theory
15:00 - 17:00 CONTRIBUTED SESSION 1 EEA
17:00 - 19:00 MARSHALL LECTURE
19:00 MAYORS RECEPTION CITY HALL



12:00 - 19:00 REGISTRATION



15:00 - 17:00 CONTRIBUTED SESSION 1
EEA



15:00 - 17:00 BEHAVIOURAL ECONOMICS I (EEA)
Chairperson: Svetlana Boyarchenko, University of Texas, Austin
Room

  DISCOUNT FACTORS EX POST AND EX ANTE, AND DISCOUNTED UTILITY ANOMALIES
Svetlana Boyarchenko, University of Texas, Austin
Co-Author: Sergei Levendorskii, University of Texas at Austin

 
  INVESTMENT DECISIONS WITH LOSS AVERSION OVER RELATIVE CONSUMPTION
Georg Gebhardt, LMU Munich

 
  ASSESSING ATTITUDES TOWARDS UNCERTAINTY ACROSS COUNTRIES
Paolo Giordani, European University Institute
Co-Authors: Karl Schlag, European University Institute and Sanne Zwart, European University Institute

 
  SELF CONTROL AND CREDIT CARD BORROWING
Christopher Milde, European University Institute
 

15:00 - 17:00 BANKING I (EEA)
Chairperson: Svetlana Andrianova, Leicester University
Room J-17

  GOVERNMENT OWNERSHIP OF BANKS, INSTITUTIONS, AND FINANCIAL DEVELOPMENT
Svetlana Andrianova, Leicester University
Co-Authors: Panicos Demetriades, University of Leicester and Anja Shortland, Leicester University

 
  ACQUISITION VERSUS GREENFIELD: THE IMPACT OF THE MODE OF FOREIGN BANK ENTRY ON INFORMATION AND BANK LENDING RATES. THEORY AND EVIDENCE.
Sophie Claeys, Ghent University
Co-Author: Christa Hainz, University of Munich

 
  ENTRY OF FOREIGN BANKS AND THEIR IMPACT ON HOST COUNTRIES
Maria Lehner, Ludwig-Maximilians-University Munich
Co-Author: Monika Schnitzer, Department of Economics, University of Munich
 

15:00 - 17:00 BUSINESS CYCLES I (EEA)
Chairperson: Fabio Ghironi, Boston College
Room J-18

  BUSINESS CYCLES AND FIRM DYNAMICS
Fabio Ghironi, Boston College
Co-Authors: Florin Bilbiie, Nuffield College, Oxford and Marc Melitz, Harvard University

 
  DETERMINANTS OF BUSINESS CYCLE SYNCHRONISATION ACROSS EURO AREA COUNTRIES
Uwe Boewer, University of Munich
Co-Author: Catherine Guillemineau, The Conference Board

 
  TRACKING DOWN GERMANY’S PRE WWI BUSINESS CYCLE: A DYNAMIC FACTOR MODEL
Martin Uebele, Humboldt University of Berlin
 

15:00 - 17:00 CORPORATE FINANCE I (EEA)
Chairperson: OLEKSANDR TALAVERA, DIW-Berlin
Room U-46

  THE EFFECTS OF SHORT-TERM LIABILITIES ON PROFITABILITY: THE CASE OF GERMANY
OLEKSANDR TALAVERA, DIW-Berlin
Co-Authors: Christopher Baum, Boston College and Dorothea Schaefer, DIW-Berlin

 
  THE VALUE OF CORPORATE INDUSTRIAL AND INTERNATIONAL DIVERSIFICATION: EVIDENCE FROM GERMANY
Arnd Plagge, University of Rochester
Co-Author: Thomas Kreye, University of St. Gallen, Research Institute for International Management

 
  VENTURE CAPITAL FINANCING AND THE GROWTH OF NEW TECHNOLOGY-BASED FIRMS: A LONGITUDINAL ANALYSIS
Fabio Bertoni, Politecnico di Milano
Co-Authors: Massimo Colombo, Politecnico di Milano and Luca Grilli, Politecnico di Milano

 
  DO ENTRENCHED MANAGERS PAY THEIR WORKERS MORE?
Helena Svaleryd, The Reseach Institute of Industrial Economics
Co-Authors: Henrik Cronqvist, Ohio State University, Fredrik Heyman, The Research Institute of Industrial Economics, Mattias Nilsson, Worcester Polytechnic Institute and Jonas Vlachos, Stockholm School of Economics
 

15:00 - 17:00 ECONOMIC DEVELOPMENT I (EEA)
Chairperson: Almuth Scholl, Humboldt-University Berlin
Room U-24

  AID EFFECTIVENESS AND LIMITED ENFORCEABLE CONDITIONALITY
Almuth Scholl, Humboldt-University Berlin

 
  FOREIGN DEBT IN POST-CONFLICT COUNTRIES
Patricia Alvarez-Plata, DIW Berlin (German Institute for Economic Research)
Co-Author: Tilman Brück, DIW Berlin

 
  THE DIVERGING PATTERNS OF PROFITABILITY, INVESTMENT AND GROWTH OF CHINA AND INDIA, 1980-2003
Jesus Felipe, Asian Development Bank

 
  OPENNESS, HUMAN CAPITAL AND EFFICIENCY
Camilla Mastromarco, University of Lecce
 

15:00 - 17:00 ECONOMIC GROWTH I (EEA)
Chairperson: Marco Maffezzoli, IGIER, Universitŕ Bocconi
Room U-34

  CONVERGENCE ACROSS ITALIAN REGIONS AND THE ROLE OF TECHNOLOGICAL CATCH-UP
Marco Maffezzoli, IGIER, Universitŕ Bocconi

 
  DRIFTING TOGETHER OR FALLING APART? THE EMPIRICS OF REGIONAL ECONOMIC GROWTH IN POST-UNIFICATION GERMANY
Declan Curran, Economic Dept., University of Hamburg
Co-Authors: Roberta Colavecchio, and Michael Funke,

 
  DIFFUSION OF SCALE EFFECTS BETWEEN EUROPEAN AND US REGIONS
Jürgen Antony, University of Augsburg
 

15:00 - 17:00 EMPIRICAL TRADE I (EEA)
Chairperson: Julia Woerz, wiiw - The Vienna Institute for Int. Ec. Studies
Room J-21

  RAGS IN THE HIGH RENT DISTRICT: THE EVOLUTION OF QUOTA RENTS IN TEXTILES AND CLOTHING
Julia Woerz, wiiw - The Vienna Institute for Int. Ec. Studies
Co-Author: Joseph Francois, Erasmus University Rotterdam, TI and CEPR

 
  TO LOG OR NOT TO LOG, OR HOW TO ESTIMATE A GRAVITY MODEL?
Boriss Siliverstovs, DIW Berlin
Co-Author: Dieter Schumacher, DIW Berlin

 
  TRADE IN CULTURAL GOODS AND SOCIAL NETWORKS
Angela Cheptea, TEAM, University of Paris 1
 

15:00 - 17:00 FOREIGN DIRECT INVESTMENT I (EEA)
Chairperson: Katariina Hakkala, The Research Institute of Industrial Economics (IUI)
Room J-16

  THE EFFECT OF OFFSHORING ON LABOR DEMAND: EVIDENCE FROM SWEDEN
Katariina Hakkala, The Research Institute of Industrial Economics (IUI)

 
  DETERMINANTS OF FDI IN CHINA: REWARD OR REMEDY?
Olena Havrylchyk,
Co-Author: sandra PONCET, University Paris 1

 
  LOCATION OF MANUFACTURING FDI IN HUNGARY: HOW IMPORTANT ARE INTER-COMPANY RELATIONSHIPS?
Gábor Békés, H.A.S. Institute of Economics

 
  TAXATION AND THE INTERNATIONAL STRATEGY OF JAPANESE MULTINATIONAL ENTERPRISES
Azemar Celine, University of Paris I Panthéon Sorbonne TEAM International
Co-Authors: Delios Andrew, NUS Business School and Corcos Gregory, CNRS-EHESS-ENPC-ENS
 

15:00 - 17:00 PUBLIC FINANCE I (EEA)
Chairperson: Guillaume Cheikbossian, GREMAQ Toulouse
Room U-48

  PUBLIC INVESTMENTS, UNCERTAINTY, AND THE INCENTIVE TO COOPERATE
Guillaume Cheikbossian, GREMAQ Toulouse
Co-Author: Wilfried Sand-Zantman, LASER (Montpellier) and IDEI (Toulouse)

 
  LOTTERY FINANCING OF A PUBLIC GOOD: DOES GROUP SIZE MATTER?
Thomas Gaube, Max Planck Institute for Research on Collective Goods

 
  COLLECTIVE NORMS IN BASIC RESEARCH AND ECONOMIC GROWTH
Maria Rosaria Carillo, University of Naples
Co-Author: Erasmo Papagni,

 
  MEASURING THE EFFECTS OF NATURAL HAZARDS ON SOCIETY: THE LIFE SATISFACTION APPROACH
Paul Raschky, alpS - Centre for Natural Hazard MAnagement
 

15:00 - 17:00 INEQUALITY I (EEA)
Chairperson: Alessandra Bongfiglioli, CREI - Centre de Recerca en Economia Internacional
Room J-32

  EQUITIES AND INEQUALITY
Alessandra Bongfiglioli, CREI - Centre de Recerca en Economia Internacional

 
  INEQUALITY AND INSTITUTIONS
Alberto Chong, Inter-American Development Bank
Co-Author: Mark Gradstein, Ben Gurion University

 
  FINANCIAL DEVELOPMENT AND INEQUALITY: BRAZIL 1985-99
Manoel Bittencourt, University of Bristol

 
  INEQUALITY AND MEDIA CAPTURE
Maria Petrova, Harvard University
 

15:00 - 17:00 LABOUR MARKET - SEARCH AND MATCHING I (EEA)
Chairperson: Peter Coles, Harvard Business School
Room J-42

  SIGNALING IN MATCHING MARKETS
Peter Coles, Harvard Business School

 
  THE IMPACT OF DISEMBODIED TECHNOLOGICAL PROGRESS ON UNEMPLOYMENT
Julien Prat, University of Vienna

 
  OPTION TO WAIT IN WAGE BARGAINING AND THE SKILL PREMIUM
Timo Vesala, University of Helsinki
 

15:00 - 17:00 EMPIRICAL INDUSTRIAL ORGANISATION I (EEA)
Chairperson: Dag Morten Dalen, Norwegian School of Management
Room J-52

  PRICE REGULATION AND GENERIC COMPETITION IN PHARMACEUTICAL MARKET
Dag Morten Dalen, Norwegian School of Management
Co-Author: Steinar Strřm, University of Oslo

 
  CAN WE MEASURE HOSPITAL QUALITY FROM PHYSICIANS' CHOICES?
Matilde Machado, Universidad Carlos III de Madrid
Co-Authors: Ricardo Mora, Universidad Carlos III de Madrid and Antonio Romero-Medina, Universidad Carlos III de Madrid

 
  THE INCENTIVE WHIPLASH: SALES DISCOUNTS AND THE DYNAMICS OF RESIDUAL VALUE IN THE AUTOMOTIVE INDUSTRY
Paul Kattuman, University of Cambridge
Co-Author: Matthias Holweg, University of Cambridge
 

15:00 - 17:00 ENVIRONMENTAL ECONOMICS I (EEA)
Chairperson: Simone Valente, ETH Zurich
Room J-61

  THE DIRECTION OF TECHNICAL CHANGE IN CAPITAL-RESOURCE ECONOMIES
Simone Valente, ETH Zurich
Co-Author: Corrado Di Maria, Tilburg University

 
  UNIT ROOTS, NON-LINEAR TRANSFORMATIONS AND THE ENVIRONMENTAL KUZNETS CURVE
Terje Skjerpen, Statistics Norway
Co-Authors: Gang Liu, Statistics Norway, Anders Rygh Swensen, University of Oslo and Kjetil Telle, Statistics Norway

 
  HOW LONG SHOULD A PIPE SMOKE? AN OPTION VALUE APPROACH FOR ABATEMENT TECHNOLOGY
Andreas von Döllen, University of Kiel
Co-Author: Till Requate, University of Kiel

 
  PUBLIC, PRIVATE AND NONPROFIT REGULATION FOR ENVIRONMENTAL QUALITY
Lucie Bottega, GREMAQ
Co-Author: Jenny De Freitas, GREMAQ
 

15:00 - 17:00 EXCHANGE RATES I (EEA)
Chairperson: Marco Cavaliere, University of Bern and Study Center Gerzensee
Room J-62

  HOW DOES EXCHANGE RATE PASS-THROUGH DIFFER ACROSS COUNTRIES AND ACROSS PRICE INDICES?EVIDENCE FROM THE INDUSTRIALIZED COUNTRIES
Marco Cavaliere, University of Bern and Study Center Gerzensee

 
  THE BEHAVIOUR OF THE REAL EXCHANGE RATE: EVIDENCE FROM REGRESSION QUANTILES
Kleopatra Nikolaou, Warwick Business School (WBS)

 
  FILTERING THE MARKET EXPECTATION CONCERNING THE FINAL FIXING
Anna Naszódi, Magyar Nemzeti Bank

 
  THE DYNAMICS BEHAVIOR OF THE REAL EXCHANGE RATE IN STICKY PRICE MODELS
Jon Steinsson, Harvard University
 

15:00 - 17:00 ORGANIZATIONS (EEA)
Chairperson: Pieter Ruys, Tilburg University
Room J-11

  TECHNOLOGY DRIVEN ORGANIZATIONAL STRUCTURE OF THE FIRM
Pieter Ruys, Tilburg University
Co-Authors: Peter Borm, Tilburg University, Yuan Ju, Keele University and René van den Brink, Free University Amsterdam

 
  INTERPERSONAL COMPARISON, STATUS AND AMBITION IN ORGANISATIONS
Florian Ederer, MIT Economics
Co-Author: Andrea Patacconi, University of Oxford

 
  THE ALLOCATION OF AUTHORITY UNDER LIMITED LIABILITY
Kerstin Puschke, FU Berlin

 
  THREE-TIER HIERARCHIES: THEORY AND EVIDENCE.
Carmine Guerriero, University of Cambridge
 

15:00 - 17:00 INVESTMENT AND ENTREPRENEURSHIP I (EEA)
Chairperson: Xavier Fairise, EPEE Département d''Economie Universite d''Evry-Val-d''Essonne
Room U-21

  INVESTMENT AND HIRING BEHAVIOUR UNDER ASYMMETRIC ADJUSTMENT COSTS AND UNCERTAINTY
Xavier Fairise, EPEE Département d''Economie Universite d''Evry-Val-d''Essonne
Co-Author: jerome glachant,

 
  INVESTMENT DECISIONS IN OLIGOPOLY FACING ARITHMETIC BROWNIAN MOTION
Magdalena Trojanowska, University of Antwerp
Co-Author: Peter M. Kort, Department of Econometrics and Operations Research and CentER, Tilburg University and Department of Economics, University of Antwerp

 
  INVESTMENT TIMING AND DYNAMIC OPERATION IN MONOPOLY FRANCHISING CONTRACTS FOR TRANSPORTATION INFRASTRUCTURES
Danau Daniel, Laboratoire d'Economie des Transports

 
  PRIVATE INVESTMENT OF A PUBLIC PROJECT: A MULTI-PERIOD ANALYSIS
Engelbert Dockner, University of Vienna
Co-Author: Kazuo Nishimura, Kyoto University
 

15:00 - 17:00 POLITICAL ECONOMY I (EEA)
Chairperson: Mika Widgrén, Turku School of Economics
Room U-41

  EUROPEAN COMMISSION - APPOINTMENT, PREFERENCES AND INTER-INSTITUTIONAL RELATIONS
Mika Widgrén, Turku School of Economics
Co-Author: Stefan Napel, University of Hamburg

 
  THE POLITICAL ECONOMY OF SEIGNIORAGE
Ari Aisen, International Monetary Fund

 
  WHY DID (NOT) THE EAST EXTEND THE FRANCHISE? DEMOCRACY, INTRA-ELITE CONFLICT AND RISK SHARING
Eugenio Proto, Warwick University
Co-Author: Sayantan Ghosal , Warwick University

 
  THE POLITICAL ECONOMY OF THE GERMAN LÄNDER DEFICITS
Beate Jochimsen, Freie Universität Berlin
Co-Author: Robert Nuscheler, Wissenschaftszentrum Berlin für Sozialforschung
 

15:00 - 17:00 LABOUR MARKET - EMPIRICAL STUDIES I (EEA)
Chairperson: Stephan Lothar Thomsen, Centre for European Economic Research
Room J-31

  HOW DO EMPLOYMENT EFFECTS OF JOB CREATION SCHEMES DIFFER WITH RESPECT TO THE FOREGOING UNEMPLOYMENT DURATION?
Stephan Lothar Thomsen, Centre for European Economic Research
Co-Author: Reinhard Hujer, J.W.Goethe-University, Frankfurt/M

 
  SHOULD EMPLOYMENT AUTHORITIES WORRY ABOUT MERGERS AND ACQUISITIONS?
David Margolis, CREST-INSEE, CES-Université Paris 1 and IZA

 
  TURNING UNEMPLOYED INTO SELF-EMPLOYED: THE RELATIVE EFFECTIVENESS OF TWO PROGRAMMES IN WEST GERMANY
Marco Caliendo, DIW Berlin
Co-Author: Hans J. Baumgartner, DIW Berlin
 

15:00 - 17:00 INTERNATIONAL FINANCE I (EEA)
Chairperson: Alexei Deviatov, New Economic School
Room U-47

  REPUTATION AND THE SOFT-BUDGET CONSTRAINT
Alexei Deviatov, New Economic School
Co-Author: Barry Ickes, Pennsylvania State University

 
  TWIN DEFICITS: SQUARING THEORY, EVIDENCE AND COMMON SENSE
Gernot Müller, Goethe University Frankfurt
Co-Author: Gian Carlo Corsetti, EUI - Florence

 
  COUNTRY RISK AND GROWTH
Martin Schindler, IMF

 
  VOLATILITY AND PERSISTENCE IN SOVEREIGN RISK
Luis Catăo, International Monetary Fund
Co-Author: Sandeep Kapur, Birbeck College, University of London
 

15:00 - 17:00 INDUSTRIAL ORGANISATION I (EEA)
Chairperson: Ramon Fauli-Oller, Universitat d''Alacant
Room U-50

  PARTIAL PRICE DISCRIMINATION BY AN UPSTREAM MONOPOLIST
Ramon Fauli-Oller, Universitat d''Alacant
Co-Authors: Joel Sandonís, Universitat d''Alacant and Lluís Bru, Universitat de les Illes Balears

 
  PRICE AND QUANTITY COMPETITION IN A DIFFERENTIATED DUOPOLY WITH UPSTREAM SUPPLIERS
Mónica Correa-López, Department of Economics and Centre for Growth and Business Cycle Research, University of Manchester

 
  COMPETITION AMONG CLUBS: DO THE BEST JOIN THE BEST?
Jens Prüfer, Goethe University Frankfurt
Co-Author: Uwe Walz, Goethe University Frankfurt; CFS Frankfurt and CEPR

 
  EQUILIBRIUM MARKET AND PRICING STRUCTURES IN VIRTUAL PLATFORM DUOPOLY
Stefan Behringer, Universität Frankfurt
 

15:00 - 17:00 LABOUR MARKET - INSTITUTIONS AND PERFORMANCE I (EEA)
Chairperson: Jarkko Turunen, European Central Bank
Room J-41

  THE INTERACTION OF LABOR MARKETS AND INFLATION: MICRO EVIDENCE FROM THE INTERNATIONAL WAGE FLEXIBILITY PROJECT
Jarkko Turunen, European Central Bank
Co-Authors: William Dickens, Brookings Institution, Lorenz Goette, University of Zurich, Erica Groshen, Federal Reserve Bank of New York, Steinar Holden, University of Oslo, Julian Messina, European Central Bank, Mark Schweitzer, Federal Reserve Bank of Cleveland and Melanie Ward, European Central Bank

 
  UNEMPLOYMENT ACCOUNTS AND EMPLOYMENT INCENTIVES
Alessio J. G. Brown, The Kiel Institute for the World Economy
Co-Authors: J. Mike Orszag, Watson Wyatt Worldwide and Dennis Snower, The Kiel Institute for the World Economy

 
  CONTRACTING OUT OF PLACEMENT SERVICES – A MICROECONOMETRIC EVALUATION FOR GERMANY
Henrik Winterhager, ZEW Mannheim

 
  A COMPREHENSIVE EVALUATION OF ESF FINANCED LABOUR MARKET POLICY IN GERMANY
Michael Rothgang, RWI Essen
Co-Authors: Verena Gross , Rheinisch-Westfälisches Institut für Wirtschaftsforschung e.V. and Michael Schumacher, RWI Essen
 

15:00 - 17:00 MONETARY POLICY I (EEA)
Chairperson: Alessandro Riboni, université de Montréal
Room J-51

  THE DYNAMIC (IN)EFFICIENCY OF MONETARY POLICY BY COMMITTEE
Alessandro Riboni, université de Montréal
Co-Author: Francisco J. Ruge-Murcia, Univerity of Montreal

 
  DOES MODEL UNCERTAINTY JUSTIFY CONSERVATISM? ROBUSTNESS AND THE DELEGATION OF MONETARY POLICY
Peter Tillmann, University of Bonn

 
  THE IMPACT OF PAYING INTEREST ON RESERVES IN THE PRESENCE OF GOVERNMENT DEFICIT FINANCING
Mark G. Guzman, University of Reading

 
  SOME PERILS OF POLICY RULE REGRESSION: THE TAYLOR'S RULE REVISITED
Julio Carrillo, GREMAQ, University of Toulouse
Co-Author: Patrick Feve, Université de Toulouse (Gremaq and IDEI)
 

15:00 - 17:00 CONTRIBUTED SESSION 1
ESEM: Theoretical and Applied Economics



15:00 - 17:00 APPLIED INDUSTRIAL ORGANISATION (ESEM TAE)
Chairperson: Masao Nakamura, University of British Columbia
Room U-30

  DOES PRIVATIZATION ALWAYS REDUCE COSTS? THEORY AND EVIDENCE FROM SERVICE CONTRACTING
Erik Lindqvist, Stockholm School of Economics

 
  HOW DO SWITCHING COSTS AFFECT THE COMPETITIVENESS OF RECENTLY LIBERALIZED MARKETS? THE CASE OF THE DUTCH ENERGY RETAIL INDUSTRY
Cesar Alejandro Hernandez Alva, GREMAQ, Toulouse University

 
  NON LINEAR CONTRACTING AND ENDOGENOUS MARKET POWER BETWEEN MANUFACTURERS AND RETAILERS: IDENTIFICATION AND ESTIMATION ON DIFFERENTIATED PRODUCTS
Pierre Dubois, University of Toulouse (INRA, IDEI)
Co-Author: Celine Bonnet, University of toulouse (INRA)

 
  TECHNICAL CHANGE IN A BUBBLE ECONOMY: JAPANESE MANUFACTURING FIRMS IN THE 1990S
Masao Nakamura, University of British Columbia
 

15:00 - 17:00 BEHAVIOURAL ECONOMICS (ESEM TAE)
Chairperson: Nicolas Drouhin, Ecole normale supérieure de Cachan et GRID
Room U-23

  GRANNY VERSUS GAME THEORIST: AMBIGUITY IN EXPERIMENTAL GAMES
Jürgen Eichberger, University of Heidelberg
Co-Authors: David Kelsey, University of Exeter and Burkhard Schipper, University of California Davis

 
  LEARNING AND MODEL VALIDATION
Inkoo Cho, University of Illinois
Co-Author: Kenneth Kasa, Simon Fraser University

 
  LEARNING TO BE PREPARED
Willemien Kets, CentER, Tilburg University
Co-Author: Mark Voorneveld, Stockholm School of Economics

 
  UNCERTAIN LIFETIME, PROSPECT THEORY AND TEMPORAL CONSISTENCY
Nicolas Drouhin, Ecole normale supérieure de Cachan et GRID
 

15:00 - 17:00 ECONOMETRIC AND STATISTICAL METHODS (ESEM TAE)
Chairperson: Christiaan Heij, Econometric Institute
Room J-53

  COMPARING DISTRIBUTIONS: THE HARMONIC MASS INDEX
Charles van Marrewijk, Erasmus University Rotterdam
Co-Author: Jeroen Hinloopen, University of Amsterdam

 
  ESTIMATING AND EVALUATING THE PREDICTIVE ABILITIES OF SEMIPARAMETRIC MULTIVARIATE MODELS WITH APPLICATION TO RISK MANAGEMENT
Valentyn Panchenko, University of Amsterdam

 
  HIERARCHICAL ARCHIMEDEAN COPULAS
Cornelia Savu, University of Muenster, Institute of Ecnometrics
Co-Author: Mark Trede, University of Munster

 
  IMPROVED CONSTRUCTION OF DIFFUSION INDEXES FOR MACROECONOMIC FORECASTING
Christiaan Heij, Econometric Institute
Co-Authors: Patrick Groenen, Econometric Institute and Dick Van Dijk, Econometric Institute, Erasmus University Rotteredam
 

15:00 - 17:00 EDUCATION AND WELFARE (ESEM TAE)
Chairperson: Annalisa Luporini, University of Florence
Room U-31

  CHILDHOOD FAMILY STRUCTURE AND SCHOOLING OUTCOMES: EVIDENCE FOR GERMANY
Thomas Siedler, DIW Berlin and ISER, University of Essex
Co-Authors: Marco Francesconi, Department of Economics and Stephen Jenkins, University of Essex, ISER

 
  DIFFERENCE IN QUASI-DIFFERENCES WITH PANEL DATA: REVERSED EFFECTS OF PRIVATE SCHOOL
Myoung-jae Lee, Singapore Management University

 
  DOES THE DIVERSITY OF HUMAN CAPITAL INCREASE GDP?: A COMPARISON OF EDUCATION SYSTEMS
Ryuichi Tanaka, ISER, Osaka University
Co-Author: Katsuya Takii, Osaka School of International Public Policy, Osaka University

 
  SCOLARSHIPS OR STUDENT LOANS?
Annalisa Luporini, University of Florence
Co-Author: Alessandro Cigno, University of Florence
 

15:00 - 17:00 ENVIRONMENTAL ECONOMICS (ESEM TAE)
Chairperson: Catherine Bobtcheff, University of Toulouse I, LERNA, CEA
Room J-63

  CONSTANT SAVINGS RATES AND QUASI-ARITHMETIC POPULATION GROWTH UNDER EXHAUSTIBLE RESOURCE CONSTRAINTS
Geir B. Asheim, University of Oslo
Co-Authors: Wolfgang Buchholz, University of Regensburg, John Hartwick, Queen’s University, Tapan Mitra, Cornell University and Cees Withagen, Tilburg University

 
  HOW THE DESIGN OF INTERNATIONAL ENVIRONMENTAL AGREEMENTS AFFECTS THE INVESTMENT IN ENVIRONMENTALLY FRIENDLY TECHNOLOGIES?
Basak Bayramoglu, PSE and CES-Université Paris 1

 
  NATURAL DISASTERS IN A TWO-SECTOR MODEL OF ENDOGENOUS GROWTH
Masako Ikefuji, Graduate School of Economics, Osaka University
Co-Author: Ryo Horii, Osaka University

 
  OPTIMAL MANAGEMENT OF A RENEWABLE ENERGY SOURCE UNDER UNCERTAINTY
Catherine Bobtcheff, University of Toulouse I, LERNA, CEA
 

15:00 - 17:00 FISCAL POLICY I (ESEM TAE)
Chairperson: Mathias Trabandt, Humboldt University Berlin
Room J-22

  ATTENUATION OF RELATIVE POVERTY BY TAXES AND SUBSIDIES
Karl Mosler, Universitaet Koeln

 
  FOOL THE MARKETS? FISCAL TRANSPARENCY, CREATIVE ACCOUNTING, AND SOVEREIGN RISK PREMIA
Kerstin Bernoth,
Co-Author: Wolff Guntram, Deutsche Bundesbank

 
  OPTIMAL NONLINEAR TAXATION OF INCOME AND SAVINGS IN A TWO CLASS ECONOMY
John Weymark, Vanderbilt University
Co-Author: Craig Brett, Mount Allison University

 
  OPTIMAL PRE-ANNOUNCED TAX REFORMS UNDER VALUABLE AND PRODUCTIVE GOVERNMENT SPENDING
Mathias Trabandt, Humboldt University Berlin
 

15:00 - 17:00 GAME THEORY I (ESEM TAE)
Chairperson: Stephen Morris, Princeton University
Room U-42

  BELIEF-FREE EQUILIBRIA IN GAMES WITH INCOMPLETE INFORMATION
Johannes Hörner,
Co-Author: Stefano Lovo, HEC School of Management

 
  ROBUST DEVIATIONS FROM SIGNALING EQUILIBRIA
Peter Eso, Northwestern University, Kellogg School

 
  THE EXISTENCE AND UNIQUENESS OF MONOTONE PURE STRATEGY EQUILIBRIUM IN BAYESIAN GAMES
Robin Mason, Southampton
Co-Author: Akos Valentinyi, University of Southampton

 
  TOPOLOGIES ON TYPES
Stephen Morris, Princeton University
Co-Authors: Eddie Dekel, University of Tel Aviv and Drew Fudenberg,
 

15:00 - 17:00 LABOUR MARKET I (ESEM TAE)
Chairperson: Eren Inci, Boston College
Room U-7

  COMPETING FOR TALENTS
Wing Suen, Chinese University of Hong Kong
Co-Authors: Ettore Damiano, University of Toronto and Hao Li, University of Toronto

 
  DYNAMIC SCREENING: A ROLE FOR UP-OR-OUT CONTRACTS
Elena Pastorino, University of Iowa
Co-Author: Braz Camargo, University of Western Ontario

 
  ENTREPRENEURIAL TALENT, OCCUPATIONAL CHOICE, AND TRICKLE UP POLICIES
Massimo Morelli, The Ohio State University
Co-Authors: Maitreesh Ghatak, and Tomas Sjostrom,

 
  OCCUPATIONAL CHOICE AND THE QUALITY OF ENTREPRENEURS
Eren Inci, Boston College
 

15:00 - 17:00 VOTING (ESEM TAE)
Chairperson: Humberto Llavador, Universitat Pompeu Fabra
Room J-sem 20

  HOW TO WIN A LARGE ELECTION
Michael Mandler, Royal Holloway College, University of London

 
  OPTIMAL RETROSPECTIVE VOTING
Amanda Friedenberg, Olin School of Business
Co-Author: Ethan Bueno de Mesquita, Department of Political Science at WUSTL and Center for Rationality at Hebrew University

 
  UNBOUNDED ELIMINATION TREES
Hannu Vartiainen, Yrjö Jahnsson Foundation

 
  VOTING WITH PREFERENCES OVER MARGINS OF VICTORY
Humberto Llavador, Universitat Pompeu Fabra
 

15:00 - 17:00 INTERNATIONAL TRADE I (ESEM TAE)
Chairperson: Ichiro Tokutsu, Konan University
Room

  DO REGIONAL TRADE AGREEMENTS PROMOTE EXTERNAL TRADE LIBERALIZATION? EVIDENCE FROM LATIN AMERICA
Emanuel Ornelas, University of Georgia and Ibmec-RJ
Co-Authors: Antoni Estevadeordal, Inter-American Development Bank and Caroline Freund, World Bank

 
  LEARNING BY EXPORTING: DOES IT MATTER WHERE ONE LEARNS?
Natalia Trofimenko, Kiel Institute for World Economics

 
  STEEPEST ASCENT TARIFF REFORMS
Alan Woodland, University of Sydney
Co-Author: Pascalis Raimondos-Mřller, Copenhagen Business School

 
  THE IMPACT OF TRADE ON WAGES THROUGH ITS EFFECT ON PRICES
Ichiro Tokutsu, Konan University
Co-Author: Mika Saito, International Monetary Fund
 

15:00 - 17:00 CONTRIBUTED SESSION 1
ESEM: Econometrics and Empirical Economics



15:00 - 17:00 ARCH MODELS (ESEM EEE)
Chairperson: Jean-Michel Zakoian, CREST and Université Lille 3
Room

  ASYMPTOTIC NORMALITY OF THE QMLE OF POSSIBLY NONSTATIONARY GARCH WITH SERIALLY DEPENDENT INNOVATIONS
Emma Iglesias, Michigan State University
Co-Author: Christian Dahl, Purdue University

 
  FIRST ORDER ASYMPTOTIC THEORY FOR PARAMETRIC MISSPECIFICATION TESTS OF GARCH MODELS
Andreea Halunga, University of Exeter
Co-Author: Chris Orme, University of Manchester

 
  INEQUALITY CONSTRAINTS IN THE FRACTIONALLY INTEGRATED GARCH MODEL
Christian Conrad, University of Mannheim
Co-Author: Berthold, R. Haag, University of Mannheim

 
  QUASI-LIKELIHOOD INFERENCE IN GARCH PROCESSES WHEN SOME COEFFICIENTS ARE EQUAL TO ZERO
Jean-Michel Zakoian, CREST and Université Lille 3
Co-Author: Christian FRANCQ, GREMARS, Université Lille 3
 

15:00 - 17:00 BANK AND MONETARY POLICY (ESEM EEE)
Chairperson: Mehtap Kesriyeli, Central Bank of Turkey
Room

  CORPORATE SECTOR DEBT COMPOSITION AND EXCHANGE RATE BALANCE SHEET EFFECT IN TURKEY
Mehtap Kesriyeli, Central Bank of Turkey
Co-Authors: Erdal Ozmen, Middle East Technical University and Serkan Yigit, Central Bank of Turkey

 
  IDENTIFYING THE ROLE OF LABOR MARKETS FOR MONETARY POLICY IN AN ESTIMATED DSGE MODEL
Kai Christoffel, European Central Bank
Co-Authors: Keith Kuester, Goethe University and Tobias Linzert, European Central Bank

 
  INFORMAL CREDIT MARKETS, JUDICIAL COSTS AND CONSUMER CREDIT: EVIDENCE FROM FIRM LEVEL DATA
Charles Grant, Reading

 
  INVESTING IN TRANSITION COUNTRIES: THE EXPERIENCE OF THE EBRD (1991-2003)
Rosella Nicolini, Insituto de Análisis Económico
Co-Author: Lionel Artige, Universitat Autňnoma de Barcelona and Universitat Pompeu Fabra
 

15:00 - 17:00 BAYESIAN METHODS (ESEM EEE)
Chairperson: Paolo Giordani, Swedish Central Bank and University of New South Wales
Room

  BAYESIAN SEEMINGLY UNRELATED REGRESSION IN SPATIAL REGIONAL MODEL: ECONOMICS OF AGGLOMERATION IN JAPAN DURING 1991-2000
Hajime Wago, Graduate school of economics, Nagoya University
Co-Authors: Kazuhiko Kakamu, Institute for Advanced Studies and Wolfgang Polasek, IHS Wien

 
  EFFICIENT BAYESIAN INFERENCE FOR MULTIPLE CHANGE-POINT AND MIXTURE INNOVATION MODELS
Paolo Giordani, Swedish Central Bank and University of New South Wales
Co-Author: Robert Kohn, University of New South Wales

 
  EXPECTED MONEY GROWTH, MARKOV TRENDS AND THE INSTABILITY OF MONEY DEMAND IN THE EURO AREA
Sylvia Kaufmann, Oesterreichische Nationalbank
Co-Author: Peter Kugler, University of Basel

 
  REPRESENTING UNCERTAINTY ABOUT RESPONSE PATHS: THE USE OF HEURISTIC OPTIMISATION METHODS
Anna Staszewska, Univeristy of Lodz
 

15:00 - 17:00 CONSUMER BEHAVIOUR (ESEM EEE)
Chairperson: Joao Issler, Getulio Vargas Foundation
Room

  A GENERAL TEST FOR RULE-OF-THUMB BEHAVIOR IN CONSUMPTION
Joao Issler, Getulio Vargas Foundation
Co-Author: Fabio Gomes, freis@fgvmail.br

 
  HOW MUCH DEBTORS' PUNISHMENT?
Bruno Funchal, EPGE/FGV
Co-Author: Aloisio Araujo, EPGE/FGV and IMPA

 
  INFORMATION, HABITS, AND CONSUMPTION BEHAVIOUR: EVIDENCE FROM MICRO DATA
Mika Kuismanen, European Central Bank
Co-Author: Luigi Pistaferri, Stanford University

 
  RETIREMENT AND FIXED COSTS TO WORK: AN EMPIRICAL ANALYSIS
Christophe Kolodziejczyk, University of Copenhagen
 

15:00 - 17:00 GROWTH (ESEM EEE)
Chairperson: Johannes Fedderke, University of Cape Town
Room

  BELIEVE AND YOU SHALL RECEIVE? EVALUATING THE ROBUSTNESS OF THE RELIGION/GROWTH NEXUS
Chih Ming Tan, Tufts University
Co-Authors: Steven Durlauf, University of Wisconsin and Andros Kourtellos, University of Cyprus

 
  INSTITUTIONS AND ECONOMIC PERFORMANCE: ENDOGENEITY AND PARAMETER HETEROGENEITY
Andreas Leukert, Munich Graduate School of Economics
Co-Author: Theo Eicher, University of Washington

 
  IS THE FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH RELATIONSHIP NONLINEAR?
Theofanis Mamuneas, University of Cyprus
Co-Authors: Elena Ketteni, and Thanasis Stengos, University of Guelph

 
  TECHNOLOGY, HUMAN CAPITAL AND GROWTH
Johannes Fedderke, University of Cape Town
 

15:00 - 17:00 LABOR MARKETS (ESEM EEE)
Chairperson: Marc-Andreas Muendler, UC San Diego and CESifo
Room

  DO UI BENEFIT LEVELS OR BENEFIT DURATION HAVE AN IMPACT ON PERCEIVED JOB SECURITY?
Laurence Rioux, CREST-INSEE

 
  EFFICIENCY WAGES, MATCHING, AND UNEMPLOYMENT IN THE USA AND THE UK
Sophocles Mavroeidis, Brown University
Co-Author: James Malcomson, Oxford University

 
  MARGINS OF MULTINATIONAL LABOR SUBSTITUTION
Marc-Andreas Muendler, UC San Diego and CESifo
Co-Author: Sascha O. Becker, U Munich, CESifo and IZA

 
  RECONCILING FEMALE LABOR PARTICIPATION AND MOTHERHOOD: THE EFFECT OF CASH BENEFITS FOR WORKING MOTHERS
Rocío Sánchez-Mangas, Universidad Autónoma de Madrid
Co-Author: Virginia Sánchez-Marcos, Universidad de Cantabria
 

15:00 - 17:00 MACRECONOMETRICS (ESEM EEE)
Chairperson: Gary Koop, University of Strathclyde
Room U-32

  FORECASTING SUBSTANTIAL DATA REVISIONS IN THE PRESENCE OF MODEL UNCERTAINTY
Gary Koop, University of Strathclyde
Co-Authors: Tony Garratt, Birkbeck and Shaun Vahey,

 
  INFORMATIONAL ASSUMPTIONS ON INCOME PROCESSES AND CONSUMPTION IN THE BUFFER STOCK MODEL OF SAVINGS
Dmytro Hryshko, University of Houston

 
  MACROECONOMIC DERIVATIVES: AN INITIAL ANALYSIS OF MARKET-BASED MACRO FORECASTS, UNCERTAINTY AND RISK
Justin Wolfers, University of Pennsylvania
Co-Author: Refet Gurkaynak, Bilkent University

 
  PROJECTION MINIMUM DISTANCE: AN ESTIMATOR FOR MACROECONOMIC MODELS
Oscar Jorda, U. C. Davis
Co-Author: Sharon Kozicki, Bank of Canada

 
  STRUCTURAL ESTIMATION AND EVALUATION OF CALVO-STYLE INFLATION MODELS
Maral Kichian, Bank of Canada
Co-Authors: Jean-Marie Dufour, Universite de Montreal and Lynda Khalaf, GREEN and CIREQ, Université Laval
 

15:00 - 17:00 NONPARAMETRIC TESTING (ESEM EEE)
Chairperson: Miguel Delgado, UC3Madrid
Room

  BREAKING THE CURSE OF DIMENSIONALITY IN NONPARAMETRIC TESTING
Valentin Patilea, CREST-ENSAI
Co-Author: Pascal Lavergne, Simon Fraser University

 
  NON PARAMETRIC TESTS OF HOMOTHETICITY AND TRANSLATION HOMOTHETICITY
Laurent Cavaignac, GEREM - Perpignan - France

 
  NONPARAMETRIC INFERENCES ON CONDITIONAL QUANTILE PROCESSES
Chuan Goh, University of Toronto

 
  NONPARAMETRIC TESTS FOR CONDITIONAL SYMMETRY IN DYNAMIC MODELS
Miguel Delgado, UC3Madrid
Co-Author: Juan C. Escanciano, Universidad de Navarra
 

15:00 - 17:00 POVERTY AND CORRUPTION (ESEM EEE)
Chairperson: Gordon Anderson, University of Toronto
Room

  A NEW MEASURE OF THE STANDARD OF LIVING BASED ON FUNCTIONINGS
Wulf Gaertner, University of Osnabrueck
Co-Author: Yongsheng Xu, Georgia State University

 
  ASSESSING PROGRESS TOWARD EQUAL OPPORTUNITY: EVALUATING THE INTERGENERATIONAL MOBILITY EFFECTS OF CHANGES IN CUSTODIAL LAW AND PRACTICEIN THE UNITED STATES 1970-1990
Gordon Anderson, University of Toronto
Co-Author: Teng Wah Leo, University of Toronto

 
  CHANGING NEIGHBOURHOOD AND INFANT MORTALITY IN RURAL INDIA
Wiji Arulampalam, University of Warwick
Co-Author: Sonia Bhalotra, University of Bristol

 
  PRIVATE-PUBLIC WAGE GAP AND BRIBERY: AN EXAMPLE OF UKRAINE
Yuriy Gorodnichenko, University of Michigan
Co-Author: Klara Sabirianova Peter, Georgia State University
 

15:00 - 17:00 UNEMPLOYMENT (ESEM EEE)
Chairperson: Ragnar Nymoen, University of Oslo, Department of Economics
Room

  JOBLESS DURATION AND WAGE LOSSES AFTER INVOLUNTARY SEPARATION FROM THE JOB
Anna Okatenko, CES Université de Paris 1 Panthéon-Sorbonne

 
  MEASURING EQUILIBRIUM UNEMPLOYMENT IN EURO AREA COUNTRIES WITH COINTEGRATED SYSTEMS
Sven Schreiber, Goethe University Frankfurt

 
  U.S. NATURAL RATE DYNAMICS RECONSIDERED
Ragnar Nymoen, University of Oslo, Department of Economics
Co-Author: Gunnar Bĺrdsen, Norwegian University of Science and Technology, Department of Economics

 
  U.S. UNEMPLOYMENT DURATION: HAS LONG BECOME LONGER OR SHORT BECOME SHORTER?
Pedro Portugal, Banco de Portugal
 

15:00 - 17:00 UNIT ROOTS (ESEM EEE)
Chairperson: Bent Nielsen, University of Oxford
Room

  A UNIFIED THEORETICAL FRAMEWORK WHEN TESTING THE UNIT ROOT HYPOTHESIS IN MULTIPLE-REGIME STAR TYPE OF MODELS
Rickard Sandberg, Stockholm School of Economics

 
  DYNAMIC FACTOR MODELS WITH TIME-VARYING PARAMETERS
Marco Del Negro, Federal Reserve Bank of Atlanta
Co-Author: Chris Otrok, Univeristy of Virginia

 
  POWER OF TESTS FOR UNIT ROOTS IN THE PRESENCE OF A LINEAR TREND
Bent Nielsen, University of Oxford

 
  THE INTEGRATION ORDER OF VECTOR AUTOREGRESSIVE PROCESSES
Massimo Franchi, University of Copenhagen
 

17:00 - 19:00 MARSHALL LECTURE



17:00 - 19:00 MARSHALL LECTURE: CULTURE AND ECONOMICS (EEA)
Chairperson: Raquel Fernández, New York University
Room VK

  MARSHALL LECTURE PRESENTATION
Raquel Fernández, New York University
 

19:00 MAYORS RECEPTION CITY HALL


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