EEA-ESEM 2009: Congress Programme

The Congress Programme is subject to last minute changes.

This version of the Programme was viewed at 06/07/2009 12:19:54

Sun 23 Aug | Mon 24 Aug | TUESDAY 25 AUGUST 2009 | Wed 26 Aug | Thu 27 Aug.


DAY OVERVIEW
09:30 - 11:30 INVITED SESSIONS 2
INVITED SESSIONS ECONOMETRICS 2 (ESEM EEE)
12:00 - 14:00 CONTRIBUTED SESSIONS 4
CONTRIBUTED SESSIONS ECONOMETRICS 4 (ESEM EEE)
15:30 - 17:30 CONTRIBUTED SESSIONS 5
CONTRIBUTED SESSIONS ECONOMETRICS 5 (ESEM EEE)



09:30 - 11:30 INVITED SESSIONS 2
EEA



09:30 - 11:30 CRISES, LIQUIDITY AND POLICY (EEA)
Chairperson: Xavier Vives, IESE Business School and UPF
Organizer: Xavier Vives, IESE Business School and UPF
Room

  COMPLEXITY IN FINANCIAL MARKETS
Markus Brunnermeier, Princeton University
Co-Author: Martin Oehmke, Columbia Business School

 
  LIQUIDITY DRY-UPS: A FRAMEWORK AND POLICY IMPLICATIONS
Dennis Gromb, London Business School
Co-Author: Dimitri Vayanos, London School of Economics

 
  CRISES, INFORMATION AND LIQUIDITY
Xavier Vives, IESE Business School and UPF
 

09:30 - 11:30 SELECTED FINDINGS FROM THE EUROSYSTEM/ESCB WAGE DYNAMICS NETWORK (WDN) (EEA)
Chairperson: Frank Smets, European Central Bank
Organizer: Frank Smets, European Central Bank
Room

  INTER-INDUSTRY WAGE DIFFERENTIALS IN EU COUNTRIES: WHAT DO CROSS-COUNTRY TIME-VARYING DATA ADD TO THE PICTURE?
Ana Lamo, European Central Bank
Co-Authors: Philip Du Caju, National Bank of Belgium, Gabor Katay, National Bank of Hungary, Daphne Nicolitsas, Bank of Greece and Steven Poelhekke, European University Institute

 
  THE CAUSES AND CONSEQUENCES OF NOMINAL AND REAL WAGE RIGIDITY: A SECTORAL APPROACH
Julián Messina, Universitat de Girona
Co-Authors: Philip Du Caju, National Bank of Belgium, Claudia Filipa Duarte, Bank of Portugal, Niels Lynggĺrd Hansen, Bank of Denmark and Mario Izquierdo, Bank of Spain

 
  NEW SURVEY EVIDENCE ON WAGE RIGIDITIES AND LABOUR MARKET ADJUSTMENTS IN EUROPE
Claudia Kwapil, Oesterreichische Nationalbank
Co-Authors: Silvia Fabiani, BANK OF ITALY, Kamil Galuscak, Czech National Bank, Ana Lamo, European Central Bank and Tairi Room, Bank of Estonia

 
  MACRO IMPLICATIONS OF NEW MICRO-EVIDENCE ON WAGE SETTING
Stephen Millard, Bank of England
Co-Authors: Gregory De Walque, National Bank of Blegium, Juan Jimeno, Bank of Spain, Michael Krause, Deutsche Bundesbank, Hervé Le Bihan, Banque de France and Frank Smets, European Central Bank
 

09:30 - 11:30 WEAK LINKS AND MISALLOCATION (EEA)
Chairperson: Chang-Tai Hsieh, University of Chicago
Organizer: Chang-Tai Hsieh, University of Chicago
Room

  INTERMEDIATE GOODS AND WEAK LINKS: A THEORY OF ECONOMIC DEVELOPMENT
Charles I. Jones, Stanford University

 
  GROWING LIKE CHINA
Fabrizio Zilibotti, IEW University of Zurich

 
  SOURCES OF MISALLOCATION
Chang-Tai Hsieh, University of Chicago
 

09:30 - 11:30 JOINT SESSION ON ECONOMIC RESEARCH AND EDUCATION IN EUROPE (EEA)
Chairperson:
Organizers: Ramon Marimon, European University Institute & UPF-CREi and Reinhilde Veugelers, Katholieke Universiteit Leuven
Room


09:30 - 11:30 INVITED SESSIONS 2
ESEM: Econometrics and Empirical Economics



09:30 - 11:30 INVITED SESSIONS ECONOMETRICS 2 (ESEM EEE)

APPLIED ECONOMETRICS WITH LARGE MICRO DATA REGISTERS (ESEM EEE)
Chairperson: Gerard J. van den Berg, VU University Amsterdam
Room

  REAL WAGE INEQUALITY
Enrico Moretti, Berkeley

 
  PARENTAL EARLY INVESTMENT AND CHILDREN'S ADULT OUTCOMES: EVIDENCE FROM REGISTER DATA
Kjell Salvanes, Univ of Bergen
 

12:00 - 14:00 CONTRIBUTED SESSIONS 4
EEA



12:00 - 14:00 AGING AND RETIREMENT (EEA)
Chairperson: Franco Peracchi, Tor Vergata University
Room

  LABOUR MARKET CHARACTERISTICS AND PENSION SYSTEMS: NORTH-AMERICA VERSUS EUROPE
Luca Marchiori, Catholic University of Louvain

 
  FINANCIAL LITERACY, RETIREMENT PLANNING, AND HOUSEHOLD WEALTH
Maarten Van Rooij, De Nederlandsche Bank/ Netspar
Co-Authors: Rob Alessie, , Rob Alessie, , Rob Alessie, , Rob Alessie, and Annamaria Lusardi, Dartmouth College

 
  LABOUR PRODUCTIVITY DIFFERENTIATED BY AGE AND SKILLS
Malgorzata Wasmer, University of Fribourg
Co-Author: Muriel Roger, Paris School of Economics (INRA), INSEE

 
  AGING, COGNITIVE ABILITIES AND EDUCATION IN EUROPE
Franco Peracchi, Tor Vergata University
Co-Authors: Giuseppe De Luca, ISFOL and Fabrizio Mazzonna, Tor Vergata University
 

12:00 - 14:00 ASSET PRICING II (EEA)
Chairperson: Ulrich Maxim, Columbia University
Room

  EQUITY PREMIUM PREDICTIONS WITH ADAPTIVE MACRO INDICES
Jennie Bai, Federal Reserve Bank of New YorK

 
  GLOBAL ASSET PRICING: IS THERE A ROLE FOR LONG-RUN CONSUMPTION RISK?
Andreas Schrimpf, Centre for European Economic Research (ZEW)
Co-Authors: Jesper Rangvid, Copenhagen Business School (CBS) and Maik Schmeling, Leibniz University Hannover

 
  INFLATION AMBIGUITY AND THE TERM STRUCTURE OF ARBITRAGE-FREE U.S. GOVERNMENT BONDS
Ulrich Maxim, Columbia University
 

12:00 - 14:00 BANK REGULATION (EEA)
Chairperson: Rafael Repullo, CEMFI
Room

  A NORMATIVE ANALYSIS OF BANKING SUPERVISION: INDEPENDENCE, LEGAL PROTECTION AND ACCOUNTABILITY
Jorge Ponce, Toulouse School of Economics

 
  SECURITIZATION AND THE INTENSITY OF COMPETITION
Jung-Hyun Ahn, EconomiX-University of Paris X
Co-Author: Regis Breton, CNRS & LEO-University of Orleans

 
  PAYMENT SYSTEMS: THE CHARACTERISTICS OF PRIVATE PROVISION
Elizabeth Foote, London School of Economics

 
  MITIGATING THE PROCYCLICAL EFFECTS OF BASEL II
Rafael Repullo, CEMFI
Co-Authors: Jesús Saurina, Banco de Espańa and Carlos Trucharte, Bank of Spain
 

12:00 - 14:00 BARGAINING AND GAMES (EEA)
Chairperson: Christian Seel, University of Bonn
Room

  ONE-DIMENSIONAL BARGAINING WITH MARKOV RECOGNITION PROBABILITIES
Peter Jan Jacob Herings, University of Maastricht
Co-Author: Arkadi Predtetchinski, Maastricht University

 
  COOPERATIVE BARGAINING, CONFLICT, AND DELEGATION
Nicolas Querou, Queen's University Management School, Queen's University Belfast

 
  RENT-SEEKING CONTESTS OF HETEROGENEOUS PLAYERS WITH INTERDEPENDENT PREFERENCES
Sina Risse, TU Dortmund

 
  APPLYING VALUATION EQUILIBRIUM TO SIMPLE EXTENSIVE FORM GAMES
Christian Seel, University of Bonn
Co-Author: Philipp Wichardt,
 

12:00 - 14:00 BUSINESS CYCLES II (EEA)
Chairperson: Ander Perez, Universitat Pompeu Fabra
Room

  CREDIT STANDARDS CYCLES
Oriol Aspachs, "La Caixa" and Financial Markest Group (LSE)

 
  CREDIT MARKET IMPERFECTIONS, FINANCIAL MARKET REGULATION AND BUSINESS CYCLES IN EASTERN EUROPE
Katja Drechsel, Institute of Empirical Economic Research, University of Osnabrück
Co-Author: Frank Westermann, Institute of Empirical Economic Research, University of Osnabrück

 
  FINANCIAL SHOCKS AND THE US BUSINESS CYCLE
Christoph Thoenissen, University of St Andrews
Co-Author: Charles Nolan, University of St Andrews

 
  CREDIT CONSTRAINTS, FIRMS' PRECAUTIONARY INVESTMENT, AND THE BUSINESS CYCLE
Ander Perez, Universitat Pompeu Fabra
 

12:00 - 14:00 CONSUMER BEHAVIOR: THEORY II (EEA)
Chairperson: Karl Schlag, Universitat Pompeu Fabra
Room

  REVISING THE SALOP-EQUILIBRIUM IN THE CASE OF ATTENTION RESTRICTED CONSUMERS
Andreas Hefti, University of Zurich

 
  JOINING FORCES TO ATTRACT CONSUMERS: LOCATION CHOICE IN A CONSUMER SEARCH MODEL
Marielle Non, University of Groningen

 
  A SIGNALLING THEORY OF CONSUMER BOYCOTTS
Allard van der Made, University of Groningen
Co-Author: Pim Heijnen, University of Amsterdam

 
  ORDIENTS: “GRADIENTS” FOR BINARY RELATIONS
Karl Schlag, Universitat Pompeu Fabra
Co-Author: Ludovic Renou, University of Leicester
 

12:00 - 14:00 CORPORATE FINANCE: THEORY (EEA)
Chairperson: Kohei Kawamura, University of Edinburgh
Room

  BANKRUPTCY LAW AND FIRMS' BEHAVIOR
Aude Pommeret, IREGE and HEC Lausanne
Co-Author: ANNE EPAULARD, French Ministry of Finance

 
  ON DEBT SERVICE AND RENEGOTIATION WHEN DEBT-HOLDERS ARE MORE STRATEGIC
Jean-Marc Bourgeon, INRA and Ecole Polytechnique
Co-Author: Georges Dionne, HEC Montreal

 
  A STRUCTURAL MODEL OF DEBT PRICING, STRATEGIC CREDITORS AND PREMATURE LIQUIDATION
Hassan Naqvi, National University of Singapore

 
  DIRECT SHAREHOLDER CONTROL, BOARD INDEPENDENCE AND FIRM VALUE
Kohei Kawamura, University of Edinburgh
 

12:00 - 14:00 DEBT AND CRISES (EEA)
Chairperson: Annalisa Ferrando, European Central Bank
Room

  POLITICAL ECONOMICS OF BAILOUTS
Elzbieta Glowicka, European Commission

 
  FINANCIAL LEVERAGE, FIRE SALES AND THE CREDIT CRUNCH
Nicolas Stoffels, Swiss National Bank

 
  DETERMINANTS OF GOVERNMENT BOND SPREADS IN NEW EU COUNTRIES
Annalisa Ferrando, European Central Bank
Co-Authors: Ioana Alexopoulou, European Central Bank and Irina Bunda, European Central Bank
 

12:00 - 14:00 DEVELOPMENT II (EEA)
Chairperson: Markus Poschke, McGill University
Room

  A THEORY OF ECONOMIC DEVELOPMENT WITH ENDOGENOUS FERTILITY
Ceyhun Elgin, University of Minnesota

 
  HOW THE WEST INVENTED FERTILITY RESTRICTION
Nico Voigtlaender, UCLA
Co-Author: Joachim Voth, UPF

 
  DO CHILDREN MAKE WOMEN MORE PATIENT? EXPERIMENTAL EVIDENCE FROM INDIAN VILLAGES
Julie Chytilova, Institute of Economic Studies, Charles University in Prague
Co-Author: Michal Bauer, Institute of Economic Studies, Charles University

 
  STRUCTURAL CHANGE FROM AGRICULTURE TO MANUFACTURES: LABOR PUSH VERSUS LABOR PULL
Markus Poschke, McGill University
Co-Author: Francisco Alvarez-Cuadrado, McGill University
 

12:00 - 14:00 EXPERIMENTAL ECONOMICS II (EEA)
Chairperson: Marta Serra Garcia, Department of Economics, Tilburg University
Room

  PREFERENCES AND BELIEFS IN SEQUENTIAL SOCIAL DILEMMA PROBLEMS
Alexander K Koch, Aarhus University
Co-Authors: Mariana Blanco, University del Rosario, Dirk Engelmann, Royal Holloway, University of London and Hans Theo Normann, Goethe University Frankfurt am Main

 
  THE MEDIAL PREFRONTAL CORTEX EXHIBITS MONEY ILLUSION
Matthias Wibral, University of Bonn
Co-Authors: Armin Falk, University of Bonn, Antonio Rangel, California Institute of Technology and Bernd Weber, University of Bonn

 
  WORDS OR ACTIONS? AN EXPERIMENTAL STUDY ON SIGNALING
Marta Serra Garcia, Department of Economics, Tilburg University
Co-Authors: Jan Potters, CentER, Tiber, TILEC and Netspar, Tilburg University. and Eric Van Damme, Tilburg University
 

12:00 - 14:00 FEMALE LABOR SUPPLY (EEA)
Chairperson: Paola Profeta, Universitŕ Bocconi
Room

  FEMALE LABOR FORCE PARTICIPATION AND THE BIG FIVE
Laura Wichert, University of Konstanz
Co-Author: Winfried Pohlmeier, University of Konstanz

 
  MATERNAL EMPLOYMENT AND HAPPINESS: THE EFFECT OF NON-PARTICIPATION AND PART-TIME EMPLOYMENT ON MOTHERS' LIFE SATISFACTION
Eva M. Berger, German Institute for Economic Research (DIW Berlin)

 
  DEMOGRAPHIC TRANSITION AND FEMALE LABOR FORCE PARTICIPATION BEHAVIOR: AN EMPIRICAL INVESTIGATION
Misbah Tanveer Choudhry, University of Groningen
Co-Author: J.P Elhorst, University of Groningen

 
  FEMALE EDUCATION AND EMPLOYMENT: MAKING THE MOST OF TALENTS
Paola Profeta, Universitŕ Bocconi
Co-Author: Alessandra Casarico, Universitŕ Bocconi
 

12:00 - 14:00 FIRM ORGANIZATION (EEA)
Chairperson: Nikolay Zubanov, CPB Netherlands Bureau for Economic Policy Analysis
Room

  CONTRACT INCOMPLETENESS, GLOBALIZATION AND VERTICAL STRUCTURE: AN EMPIRICAL ANALYSIS
Luigi Pascali, Boston College

 
  NOMINATION CONTESTS: THEORY AND EMPIRICAL EVIDENCE FROM PROFESSIONAL SOCCER
Hannes Ullrich, ZEW Centre for European Economic Research, Mannheim
Co-Author: Jeanine Miklós-Thal, MIT Sloan and ZEW Centre for European Economic Research, Mannheim

 
  TECHNOLOGICAL PROGRESS, ORGANIZATIONAL CHANGE AND THE SIZE OF THE HUMAN RESOURCES DEPARTMENT
Patricia Crifo, Ecole Polytechnique, UHA
Co-Authors: Raouf Boucekkine, Department of economics and CORE, Catholic University of Louvain, and University of Glasgow. and Claudio Mattalia, Dipartimento di Statistica e Matematica Applicata “Diego de Castro”, University of Torino and IRES, Catholic University of Louvain

 
  MANAGEMENT ECONOMICS IN A LARGE RETAIL ORGANISATION
Nikolay Zubanov, CPB Netherlands Bureau for Economic Policy Analysis
Co-Author: Stanley Siebert, University of Birmingham
 

12:00 - 14:00 INDUSTRIAL ORGANIZATION: COLLUSION (EEA)
Chairperson: Heiko Gerlach, University of Auckland, IAE-CSIC Barcelona
Room

  FORECLOSING COMPETITION THROUGH ACCESS CHARGES AND PRICE DISCRIMINATION
Ángel L. López, IESE Business School

 
  COLLUSIVE NETWORKS IN MARKET-SHARING AGREEMENTS UNDER THE PRESENCE OF AN ANTITRUST AUTHORITY
Flavia Roldán, IESE, Bussiness School

 
  PRICING AND INFORMATION DISCLOSURE IN MARKETS WITH LOSS-AVERSE CONSUMERS
Heiko Karle, University of Mannheim
Co-Author: Martin Peitz, University of Mannheim

 
  MULTI-MARKET COLLUSION WITH DEMAND LINKAGES AND ANTITRUST ENFORCEMENT
Heiko Gerlach, University of Auckland, IAE-CSIC Barcelona
Co-Author: Jay Pil Choi, Michigan State University
 

12:00 - 14:00 INTERNATIONAL TRADE: EMPIRICAL STUDIES I (EEA)
Chairperson: Karl Whelan, University College Dublin
Room

  ON THE DETERMINANTS OF EXPORT DIVERSIFICATION
Massimo Tamberi, Universitŕ Politecnica delle Marche
Co-Author: Aleksandra Parteka, Gdansk University of Technology

 
  EXPORTERS AND CREDIT CONSTRAINTS: A FIRM-LEVEL ANALYSIS
Mirabelle Muuls, Grantham Institute for Climate Change, Imperial College London

 
  ECONOMIES OF SCALE AND THE SIZE OF EXPORTERS
Roc Armenter, Federal Reserve Bank of Philadelphia
Co-Author: Miklós Koren, Central European University

 
  WHERE DO FIRMS EXPORT? HOW MUCH? AND WHY?
Karl Whelan, University College Dublin
 

12:00 - 14:00 LABOR MARKETS: SEARCH I (EEA)
Chairperson: Johan Vikström, IFAU-Uppsala
Room

  COORDINATION IN THE LABOR MARKET
Juha Virrankoski, University of Turku
Co-Author: Marja-Liisa Halko, Helsinki School of Economics

 
  EQUILIBRIA IN A MODEL WITH A SEARCH LABOUR MARKET AND A MATCHING MARRIAGE MARKET.
Bonilla Roberto, Newcastle University

 
  EVALUATING THE ORGANISATIONAL PERFORMANCE OF LOCAL JOB CENTERS
Christian Holzner, Ifo Institute for Economic Research
Co-Authors: Thiess Büttner, Ifo Institute for Economic Research and Sonja Munz, Ifo Institute for Economic Research

 
  JOB SEARCH MONITORING REGIMES, PUNISHMENTS, EXIT TO WORK, AND JOB QUALITY
Johan Vikström, IFAU-Uppsala
Co-Author: Gerard J. van den Berg, VU University Amsterdam
 

12:00 - 14:00 MERGERS (EEA)
Chairperson: Laurent Linnemer, CREST (LEI)
Room

  MERGERS, CONJECTURAL VARIATION AND THE FALLACY OF DIFFERENCE-IN-DIFFERENCE ANALYSIS
Jordi Perdiguero, University of Barcelona
Co-Author: Juan Luis Jiménez, University of Las Palmas de Gran Canaria

 
  THE EFFECT OF THE PROTECTION AND STABILITY OF CREDITOR RIGHTS ON THE FIFTH WAVE OF M&AS
Martin Gassebner, ETH Zurich
Co-Author: Pierre-Guillaume Méon, Université Libre de Bruxelles

 
  DO FOREIGN MERGERS & ACQUISITIONS BOOST FIRM PRODUCTIVITY
Marc Schiffbauer, Economic and Social Research Institute (ESRI)
Co-Authors: Frances Ruane, Economic and Social Research Institute and Lulia Siedschlag, Economic and Social Research Institute

 
  HAVE PARKING PRICES RISEN IN PARIS? A RETROSPECTIVE MERGER STUDY
Laurent Linnemer, CREST (LEI)
Co-Author: Philippe Chone, CREST (LEI)
 

12:00 - 14:00 MIGRATION I (EEA)
Chairperson: Irma Clots-Figueras, Economics, University Carlos III
Room

  DO ATTITUDES TOWARDS IMMIGRANTS MATTER?
Waisman Gisela, Stockholm University
Co-Author: Birthe Larsen, Copenhagen Business School

 
  DOES RACISM AFFECT A MIGRANT'S CHOICE OF DESTINATION?
Ruby Henry, TSE,IZA,Columbia

 
  ATTITUDES TOWARDS IMMIGRATION IN EUROPE
Simona Mateut, University of Sheffield
Co-Author: Sarah Bridges, University of Nottingham

 
  THE EFFECT OF BIRTHRIGHT CITIZENSHIP ON PARENTAL INTEGRATION OUTCOMES
Irma Clots-Figueras, Economics, University Carlos III
Co-Authors: Ciro Avitabile, University College London; CSEF and Paolo Masella, Economics, University of Mannheim
 

12:00 - 14:00 MONETARY POLICY AND FINANCIAL MARKETS II (EEA)
Chairperson: Peter Tillmann, SNB
Room

  BOND PREMIA AND MONETARY POLICY OVER 40 YEARS
Peter Hördahl, Bank for International Settlements
Co-Author: Oreste Tristani, European Central Bank

 
  DOES FOREIGN EXCHANGE INTERVENTION WORK FOR INFLATION TARGETERS?
Herman Kamil, International Monetary Fund

 
  OPTIMAL MONETARY POLICY IN A MODEL WITH AGENCY COSTS
Matthias Paustian, Bank of England
Co-Authors: Charles Carlstrom, Federal Reserve Bank of Cleveland and Timothy Fuerst, Bowling Green State University

 
  THE CHANGING OUTPUT-INFLATION TRADE-OFF AND THE ROLE OF THE FINANCIAL SECTOR
Peter Tillmann, SNB
Co-Author: Barbara Rudolf, Swiss National Bank
 

12:00 - 14:00 MONETARY TRANSMISSION (EEA)
Chairperson: Kinda Hachem, Department of Economics, University of Toronto
Room

  LIQUIDITY EFFECTS AND COST CHANNELS IN MONETARY TRANSMISSION
Javier Coto-Martinez, City University
Co-Authors: Yunus Askoy, and Henrique Basso,

 
  THE ROLE OF HOUSE PRICES IN THE MONETARY POLICY TRANSMISSION MECHANISM IN THE U.S.
Dag Henning Jacobsen, Central Bank of Norway
Co-Author: Hilde Bjřrnland, Norwegian School of Management BI

 
  RELATIONSHIP LENDING AND THE TRANSMISSION OF MONETARY POLICY
Kinda Hachem, Department of Economics, University of Toronto
 

12:00 - 14:00 POLITICAL ECONOMY III (EEA)
Chairperson: Marta Reynal-Querol, Universitat Pompeu Fabra
Room

  DEMOCRACY AS A MIDDLE GROUND: A UNIFIED THEORY OF DEVELOPMENT AND POLITICAL REGIMES
Anna Larsson, Department of Economics, Stockholm University
Co-Author: Stephen L. Parente, Department of Economics, University of Illinois at Urbana-Champaign

 
  DEMOCRACY, SIZE OF BUREAUCRACY, AND ECONOMIC GROWTH: THE CASE OF RUSSIAN REGIONS
Alexander Libman, CDSE, University of Mannheim

 
  HOW DOES PARTY FRACTIONALIZATION CONVEY PREFERENCES FOR REDISTRIBUTION IN PARLIAMENTARY DEMOCRACIES?
Elvire Guillaud, CES Université Paris 1
Co-Authors: Bruno Amable, CES Université Paris 1 and Donatella Gatti, CEPN Université Paris Nord

 
  DO DEMOCRACIES SELECT BETTER LEADERS?
Marta Reynal-Querol, Universitat Pompeu Fabra
Co-Author: Timothy Besley, London School of Economics
 

12:00 - 14:00 POLITICAL ECONOMY: EMPIRICAL STUDIES II (EEA)
Chairperson: Fernanda Brollo, Universitŕ Luigi Bocconi
Room

  COULD YOU HAND ME THE EFFICIENCY SECTION, PLEASE? NEWSPAPER CIRCULATION AND LOCAL GOVERNMENT EFFICIENCY IN NORWAY.
Oliver Himmler, Goettingen University
Co-Author: Christian Bruns, Goettingen University

 
  DEMOCRACY, GLOBALIZATION AND ETHNIC VIOLENCE
Richard Jong-A-Pin, University of Groningen
Co-Author: Dirk Bezemer,

 
  WHO IS PUNISHING CORRUPT POLITICIANS - VOTERS OR THE CENTRAL GOVERNMENT? EVIDENCE FROM THE BRAZILIAN ANTI-CORRUPTION PROGRAM
Fernanda Brollo, Universitŕ Luigi Bocconi
 

12:00 - 14:00 PREFERENCES AND DECISION MAKING (EEA)
Chairperson: Elyčs Jouini, Université Paris-Dauphine
Room

  BETWEEN CHILDREN AND FRIENDS: FINANCIAL SOLIDARITY OF FAMILY AND FRIENDS IN THE NETHERLANDS
Florian Tomini, Maastricht Graduate School of Governance, Maastricht University, The Netherlands
Co-Author: Lex Borghans, University of Maastricht

 
  PROBABILISTIC CHOICE AND STOCHASTIC DOMINANCE
Pavlo Blavatskyy, University of Zurich

 
  AN EQUILIBRIUM APPROACH FOR GAMMA DISCOUNTING
Elyčs Jouini, Université Paris-Dauphine
Co-Author: Clotilde Napp, CNRS and Université Paris-Dauphine
 

12:00 - 14:00 TAXATION II (EEA)
Chairperson: Ugo Albertazzi, Banca d''Italia
Room

  HETEROGENEOUS FIRMS, `PROFIT SHIFTING' FDI AND INTERNATIONAL TAX COMPETITION
Tim Schmidt-Eisenlohr, European University Institute
Co-Author: Sebastian Krautheim, Paris School of Economics

 
  THE TAX COMPLIANCE GAME WITH SOME EVASION-AVERSE TAXPAYERS
Joao Luis Gondim, Toulouse School of Economics

 
  BANK PROFITABILITY AND TAXATION
Ugo Albertazzi, Banca d''Italia
Co-Author: Leonardo Gambacorta, Bank of Italy
 

12:00 - 14:00 TOTAL FACTOR PRODUCTIVITY (EEA)
Chairperson: Roberta Serafini, EUROPEAN CENTRAL BANK
Room

  THE EU-US TOTAL FACTOR PRODUCTIVITY GAP : AN INDUSTRY-LEVEL PERSPECTIVE
Alessandro Turrini, European Commission
Co-Authors: Kieran Mc Morrow, Eurpean Commission and Werner Roeger, European Commission

 
  ENTRY COSTS, MISALLOCATION, AND CROSS-COUNTRY INCOME AND TFP DIFFERENCES
Riccardo DiCecio, FRB of St. Louis
Co-Author: Levon Barseghyan, Cornell University

 
  THE IMPACT OF ICT CAPITAL AND EDUCATION ON TFP - IMPLICATIONS FOR RECENT EMU AND US GROWTH DIFFERENCES
Roberta Serafini, EUROPEAN CENTRAL BANK
Co-Authors: Marc Schiffbauer, Economic and Social Research Institute (ESRI) and Rolf Strauch,
 

12:00 - 14:00 UNEMPLOYMENT (EEA)
Chairperson: Gabriel Felbermayr, University of Hohenheim
Room

  BENEFIT DURATION, UNEMPLOYMENT DURATION AND EMPLOYMENT STABILITY: A REGRESSION-DISCONTINUITY APPROACH
Arne Uhlendorff, IZA
Co-Authors: Marco Caliendo, IZA and Tatsiramos Konstantinos, IZA

 
  THE EFFECTS OF UNEMPLOYMENT ON TIME USE: INDIVIDUAL AND HOUSEHOLD APPROACHES
Jose Ignacio Gimenez Nadal, University of Zaragoza

 
  UNEMPLOYMENT DYNAMICS AND THE COST OF BUSINESS CYCLES
Sophie Osotimehin, CREST and Paris School of Economics
Co-Authors: Jean-Olivier Hairault, Paris School of Economics and François Langot, GAINS-TEPP

 
  UNEMPLOYMENT IN AN INTERDEPENDENT WORLD
Gabriel Felbermayr, University of Hohenheim
Co-Authors: Mario Larch, Ifo Institute, Munich and Wolfgang Lechthaler, Kiel Institute for the World Economy
 

12:00 - 14:00 WAGE AND EARNING DYNAMICS (EEA)
Chairperson: Falko Juessen, TU Dortmund
Room

  DYNAMICS OF EARNINGS AND HOURLY WAGES IN GERMANY
Michal Myck, DIW-Berlin
Co-Authors: Richard Ochmann, DIW-Berlin and Salmai Qari, WZB Berlin

 
  CRIME DOES PAY (AT LEAST WHEN IT’S VIOLENT)! – ON THE COMPENSATING WAGE DIFFERENTIALS FOR HIGH REGIONAL CRIME LEVELS: FIRST EVIDENCE FROM EUROPE
Nils Braakmann, Leuphana University Lüneburg

 
  INTERGENERATIONAL EARNINGS MOBILITY AND DIVORCE
Karsten Marshall Elseth Rieck, University of Bergen, Department of Economics
Co-Authors: Espen Bratberg, University of Bergen, Department of Economics and Kjell Vaage, University of Bergen, Department of Economics

 
  LIFE-CYCLE EARNINGS AND PRODUCTIVITY RISK: A CROSS-COUNTRY COMPARISON
Falko Juessen, TU Dortmund
Co-Author: Christian Bayer, IGIER, Universitá Bocconi and Universität Bonn
 

12:00 - 14:00 CONTRIBUTED SESSIONS 4
ESEM: Theoretical and Applied Economics



12:00 - 14:00 ECONOMICS OF UNCERTAINTY I (ESEM TAE)
Chairperson: Michael Ostrovsky, Stanford University
Room

  ENDOGENOUS PUBLIC INFORMATION AND WELFARE
Xavier Vives, IESE Business School and UPF

 
  COMMUNICATION CAN DESTROY COMMON LEARNING
Jakub Steiner, University of Edinburgh
Co-Author: colin stewart, University of Toronto

 
  LEARNING AND INFORMATION AGGREGATION IN AN EXIT GAME
Pauli Murto, and Pauli Murto, Helsinki School of Economics
Co-Author: Juuso Välimäki, Helsinki School of Economics

 
  INFORMATION AGGREGATION IN DYNAMIC MARKETS WITH STRATEGIC TRADERS
Michael Ostrovsky, Stanford University
 

12:00 - 14:00 CONTRACT THEORY II (ESEM TAE)
Chairperson: Roland Strausz,
Room

  IMPERFECT CERTIFICATION
Yiquan Gu, TU Dortmund

 
  OPTIMAL PROCUREMENT CONTRACTS WITH PRE-PROJECT PLANNING
Daniel Krahmer, University Bonn

 
  OPTION PACKAGE BUNDLING
Makoto Hanazono, Nagoya University
Co-Authors: Takeshi Ebina, Tokyo Institute of Technology and Adachi Takanori, Tokyo Institute of Technology

 
  REGULATORY RISK UNDER OPTIMAL INCENTIVE REGULATION
Roland Strausz,
 

12:00 - 14:00 REPEATED AND DYNAMIC GAMES I (ESEM TAE)
Chairperson: Daniel Monte, Simon Fraser University
Room

  VOLUNTARILY SEPARABLE REPEATED PRISONER'S DILEMMA WITH SHARED BELIEF
Takako Fujiwara-Greve, Keio University
Co-Authors: Masahiro Okuno-Fujiwara, University of Tokyo and Nobue Suzuki, Komazawa University

 
  REPEATED GAMES WITH COSTLY IMPERFECT MONITORING
Tadashi Sekiguchi, Kyoto University
Co-Authors: Eiichi Miyagawa, Kobe University and Yasuyuki Miyahara, Kobe University

 
  BEGGAR THY PARENTS: A LIFECYCLE MODEL OF INTERGENERATIONAL ALTRUISM
Sang-Wook (Stanley) Cho, UNSW

 
  LEARNING UNDER BOUNDED MEMORY: IMPERMANENT REPUTATIONS, BUT UNLIMITED MEMORY
Daniel Monte, Simon Fraser University
 

12:00 - 14:00 SEARCH AND MATCHING II (ESEM TAE)
Chairperson: Klaus Kultti,
Room

  FEE SETTING INTERMEDIARIES: ON REAL ESTATE AGENTS, STOCK BROKERS, AND AUCTION HOUSES
Simon Loertscher, University of Melbourne
Co-Author: Andras Niedermayer, Kellogg School of Management, CMS-EMS, Northwestern University

 
  FROM SEARCH TO MATCH: WHEN LOAN CONTRACTS ARE TOO LONG
Celine Rochon, University of Oxford
Co-Author: Christophe Chamley, PSE AND BOSTON UNIVERSITY

 
  MARKETS WITH INTERESTED ADVISORS: ON BROKERS, MATCHMAKERS, AND MIDDLEMEN
Marco, A Haan, University of Groningen
Co-Author: Linda, A. Toolsema, University of Groningen

 
  SELLERS LIKE CLUSTERS
Klaus Kultti,
 

12:00 - 14:00 APPLIED INDUSTRIAL ORGANIZATION II (ESEM TAE)
Chairperson: Yaron Yehezkel, Tel Aviv University
Room

  ADVERTISING FOR ATTENTION IN A CONSUMER SEARCH MODEL
Jose Luis Moraga, University of Groningen
Co-Author: Marco, A Haan, University of Groningen

 
  STRATEGIC IMPLICATIONS OF COMPETING FOR CONSUMERS WITH TIME INCONSISTENT PREFERENCES
Alexandrov Alexei, U. of Rochester (Simon)

 
  CONSUMER CHOICE AND MERCHANT ACCEPTANCE OF PAYMENT MEDIA
Wilko Bolt, De Nederlandsche Bank
Co-Author: Sujit Chakravorti, Federal Reserve Bank of Chicago

 
  SLOTTING ALLOWANCES AND INFORMATION GATHERING
Yaron Yehezkel, Tel Aviv University
 

12:00 - 14:00 BUSINESS CYCLES II (ESEM TAE)
Chairperson: Roland Winkler, Christian-Albrechts-University of Kiel and Kiel Institute for the World Economy
Room

  DISPERSED INFORMATION OVER THE BUSINESS CYCLE: OPTIMAL FISCAL AND MONETARY POLICY
Jennifer La'O, MIT

 
  EXPECTATION DRIVEN FIRM DYNAMICS AND BUSINESS CYCLES
Nan Li, Ohio State University
Co-Author: M. Saif Mehkari, Ohio State University

 
  HIGHER-ORDER BELIEFS AND THE BUSINESS CYCLE
George-Marios Angeletos, MIT

 
  ON THE NON-OPTIMALITY OF INFORMATION: AN ANALYSIS OF THE WELFARE EFFECTS OF ANTICIPATED SHOCKS IN THE NEW KEYNESIAN MODEL
Roland Winkler, Christian-Albrechts-University of Kiel and Kiel Institute for the World Economy
Co-Author: Hans-Werner Wohltmann, Christian-Albrechts-University of Kiel
 

12:00 - 14:00 INTERNATIONAL TRADE II (ESEM TAE)
Chairperson: Jose Fillat, Federal Reserve Bank of Boston
Room

  A STRUCTURAL MODEL OF EXPORTS VERSUS AFFILIATE PRODUCTION
Joern Kleinert, Eberhard Karls University Tuebingen
Co-Author: Farid Toubal, University of Angers, PSE, CEPII

 
  OUTSOURCING VERSUS FDI IN OLIGOPOLY EQUILIBRIUM
Dermot Leahy, National University of Ireland Maynooth
Co-Author: Catia Montagna, University of Dundee

 
  PRODUCTIVITY, CONTRACTIBILITY AND THE SOURCING MODES OF MULTINATIONAL FIRMS: EVIDENCE FROM FRENCH FIRM-LEVEL DATA
Farid Toubal, University of Angers, PSE, CEPII
Co-Author: Fabrice Defever, University of Nottingham

 
  RISK, RETURNS, AND MULTINATIONAL PRODUCTION
Jose Fillat, Federal Reserve Bank of Boston
Co-Author: Stefania Garetto, Princeton University
 

12:00 - 14:00 GROWTH II (ESEM TAE)
Chairperson: Uwe Sunde, University of St.Gallen
Room

  CONVERGENCE, CAPITAL ACCUMULATION AND THE NOMINAL EXCHANGE RATE
Istvan Konya, Magyar Nemzeti Bank and Central European University
Co-Author: Peter Benczur, National Bank of Hungary and CEU

 
  LONGEVITY AND GROWTH
Ralph Winkler, ETH Zurich
Co-Author: Maik Schneider, CER-ETH - Center of Economic Research at ETH Zurich

 
  MODERNIZATION OF AGRICULTURE AND LONG-TERM GROWTH
Xiaodong Zhu, University of Toronto
Co-Author: Dennis Tao Yang, Chinese University of Hong Kong

 
  THE ECONOMIC AND DEMOGRAPHIC TRANSITION, MORTALITY, AND COMPARATIVE DEVELOPMENT
Uwe Sunde, University of St.Gallen
Co-Author: Matteo Cervellati, University of Bologna
 

12:00 - 14:00 LAW & ECONOMICS (ESEM TAE)
Chairperson: Johannes Muenster, Free U Berlin and WZB
Room

  A PARAMETRIC PANEL APPROCH TO ASSESS EFFICIENT POLICING
Dragan Ilic, New York University

 
  ASSESSING RACIAL DISCRIMINATION IN PAROLE RELEASE
Nicolas Sahuguet, HEC Montréal
Co-Author: Stephane Mechoulan,

 
  JUVENILE CRIME AND EDUCATION IN A MODEL OF INFORMATION TRANSMISSION
Darwin Cortés, Universidad del Rosario
Co-Authors: Guido Friebel, University of Toulouse 1 and Dario Maldonado, Universidad del Rosario

 
  MERCENARIES IN CIVIL WARS, 1950-2000
Johannes Muenster, Free U Berlin and WZB
Co-Authors: Sven Chojnacki, University of Kiel and Free University of Berlin and Nils Mettternich, University of Essex
 

12:00 - 14:00 CONTRIBUTED SESSIONS 4
ESEM: Econometrics and Empirical Economics



12:00 - 14:00
CONTRIBUTED SESSIONS ECONOMETRICS 4 (ESEM EEE)

EDUCATION, HEALTH AND FAMILY (ESEM EEE)
Chairperson: Carsten Ochsen, University of Rostock
Room

  FAMILY SIZE AND CHILDREN'S EDUCATION: HOW LINEAR MODELS CAN MASK A NON-LINEAR RELATIONSHIP
Matthew Wiswall, New York University
Co-Author: Magne Mogstad, Statistics Norway

 
  WHAT IS BEHIND THE RELATIONSHIP BETWEEN HEIGHT AND EDUCATIONAL ATTAINMENT? EVIDENCE FROM GERMAN PRE-TEEN CHILDREN
Marc Piopiunik, Ifo Institute for Economic Research, Munich
Co-Authors: Francesco Cinnirella, Ifo Institute for Economic Research and Joachim Winter, LMU University Munich

 
  BREAKS IN THE BREAKS: A TIME-SERIES ANALYSIS OF DIVORCE RATES
Miriam Marcen, University of Zaragoza
Co-Author: Rafael González-Val, Universidad de Zaragoza

 
  PARENTAL LABOR MARKET SUCCESS AND CHILDREN’S EDUCATION ATTAINMENT
Carsten Ochsen, University of Rostock
 

12:00 - 14:00 CONFLICTS IN SOCIETY (ESEM EEE)
Chairperson: Torsten Persson, IIES, Stockholm University
Room

  POPULATION SIZE AND CIVIL CONFLICT RISK: IS THERE A CAUSAL LINK?
Markus Brückner, Universitat Pompeu Fabra; Universitat Barcelona

 
  RIOTS, BATTLES AND CYCLES
Frederic Jouneau-Sion, EQUIPPE University of Lille
Co-Authors: STEPHANE AURAY, EQUIPPE UNIVERSITE LILLE and AURELIEN EYQUEM, Université de Lyon & Ecole Normale Supérieure LSH

 
  TURNOVER AND ACCOUNTABILITY OF APPOINTED AND ELECTED JUDGES
Claire Lim, Stanford University

 
  THE INCIDENCE OF CIVIL WAR: THEORY AND EVIDENCE
Torsten Persson, IIES, Stockholm University
Co-Author: Timothy Besley, London School of Economics
 

12:00 - 14:00 TREATMENT EFFECTS 1 (ESEM EEE)
Chairperson: Ivan Fernandez-Val, Boston University
Room

  TREATMENT EFFECTS IN SAMPLE SELECTION MODELS AND THEIR NONPARAMERIC ESTIMATION
Myoung-jae Lee, Dept. Economics, Korea University

 
  TESTING FOR COVARIATE BALANCE USING NONPARAMETRIC QUANTILE REGRESSION AND RESAMPLING METHODS
Martin Huber, University of St Gallen

 
  INFERENCE ON COUNTERFACTUAL DISTRIBUTIONS
Ivan Fernandez-Val, Boston University
Co-Authors: Victor Chernozhukov, MIT and Blaise Melly, Brown University
 

12:00 - 14:00 INTERNATIONAL TRADE (ESEM EEE)
Chairperson: Jan De Loecker, Princeton University
Room

  DO TRADING FLOWS PREDICT THE CAD/USD EXCHANGE RATE? EVIDENCE FROM DISAGGREGATED DATA
Nikola Gradojevic, Lakehead University, Faculty of Business Administration
Co-Author: Christopher Neely, Research Department, Federal Reserve Bank of St. Louis

 
  A PANEL COINTEGRATION STUDY OF THE EURO EFFECT ON TRADE
Christian Gengenbach,

 
  THE CARRY TRADE AND THE REAL EXCHANGE RATE: NOTHING TO FEAR BUT FEER ITSELF
Oscar Jorda, U.C. Davis
Co-Author: Alan M. Taylor, U.C. Davis

 
  MARKUPS AND FIRM-LEVEL EXPORT STATUS
Jan De Loecker, Princeton University
Co-Author: Frederic Warzynski, Aarhus School of Business
 

12:00 - 14:00 BANKING (ESEM EEE)
Chairperson: Laetitia Lepetit, University of Limoges
Room

  MUTUAL GUARANTEE INSTITUTIONS AND SMALL BUSINESS FINANCE
Francesco Columba, Bank of Italy
Co-Authors: Leonardo Gambacorta, Bank of Italy and Paolo Emilio Mistrulli, Bank of Italy

 
  MACROECONOMIC IMPLICATIONS OF BANK LOAN COMMITMENTS
Ki Young Park, Yonsei University

 
  BANK OWNERSHIP STRUCTURE, MARKET DISCIPLINE AND RISK: EVIDENCE FROM A SAMPLE OF PRIVATELY OWNED AND PUBLICLY HELD EUROPEAN BANKS
Laetitia Lepetit, University of Limoges
Co-Authors: Thierno Barry, Université de Limoges and Amine Tarazi, Université de Limoges
 

12:00 - 14:00 PRODUCT PRICES (ESEM EEE)
Chairperson: Guillaume Horny, Banque de France
Room

  WHY ARE GASOLINE PRICES STICKY? A TEST OF ALTERNATIVE MODELS OF PRICE ADJUSTMENT
Ana Maria Herrera, Wayne State University
Co-Author: Christopher Douglas, University of Michigan, Flint

 
  WHERE HAS PRICE ENDOGENEITY IN CONSUMER PRICES GONE?
Christoph Nagel, University of Mannheim

 
  EMPIRICAL EVIDENCE ON THE ROLE OF NON LINEAR WHOLESALE PRICING AND VERTICAL RESTRAINTS ON COST
Celine Bonnet, Toulouse School of Economics (GREMAQ, INRA)
Co-Authors: Pierre Dubois, Toulouse School of Economics (GREMAQ, INRA, IDEI) and Sofia Villas Boas B., University of California, Berkeley

 
  WAGE COST AND PRICE JOINT DYNAMICS AT THE FIRM LEVEL: AN EMPIRICAL ANALYSIS
Guillaume Horny, Banque de France
Co-Author: Patrick Sevestre, Université Paris 1 - Panthéon Sorbonne
 

12:00 - 14:00 SPATIAL ECONOMETRICS (ESEM EEE)
Chairperson: Emma Iglesias, Michigan State University
Room

  SIMPLE REGRESSION BASED TESTS FOR SPATIAL DEPENDENCE
Benjamin Born, Bonn Graduate School of Economics (BGSE)
Co-Author: Jorg Breitung, Bonn

 
  ESTIMATION OF HIGHER-ORDER SPATIAL AUTOREGRESSIVE PANEL DATA ERROR COMPONENT MODELS
Peter Egger, Ifo Institute, LMU Munich
Co-Author: Harald Badinger, Oesterreichische Nationalbank

 
  PANEL VAR MODELS WITH SPATIAL DEPENDENCE
Jan Mutl, Institute of Advanced Studies

 
  PARTIAL MAXIMUM LIKELIHOOD ESTIMATION OF A SPATIAL PROBIT MODEL
Emma Iglesias, Michigan State University
Co-Authors: Honglin Wang, Michigan State University and Jeffrey Wooldridge, Michigan State University
 

12:00 - 14:00 FACTOR MODELS (ESEM EEE)
Chairperson: Marius Ooms, Department of Econometrics, FEWEB, VU University Amsterdam
Room

  ESTIMATING THE OUTPUT GAP IN REAL TIME: A FACTOR MODEL APPROACH
Knut Are Aastveit, University of Oslo
Co-Author: Třrres G. Trovik, World Bank

 
  NATIONAL FORECASTING WITH LARGE INTERNATIONAL DATASETS - AN APPLICATION TO NEW ZEALAND
Sandra Eickmeier, Deutsche Bundesbank
Co-Author: Tim Ng, RBNZ

 
  FORECASTING THE TERM STRUCTURE OF INTEREST RATES USING A LARGE PANEL OF MACROECONOMIC DATA
Laura Coroneo, ECARES
Co-Authors: Domenico Giannone, ECB and Michele Modugno, ECARES - Universite' Libre de Bruxelles

 
  DYNAMIC FACTORS IN PERIODIC TIME-VARYING REGRESSION MODELS
Marius Ooms, Department of Econometrics, FEWEB, VU University Amsterdam
Co-Authors: Virginie Dordonnat, Electricite de France and Siem Jan Koopman, VU University, Amsterdam
 

12:00 - 14:00 LONG MEMORY (ESEM EEE)
Chairperson: Offer Lieberman, University of Haifa
Room

  FORECASTING LONG MEMORY TIME SERIES WHEN THERE IS A BREAK IN PERSISTENCE
Florian Heinen, University of Hannover
Co-Authors: Robinson Kruse, CREATES, Aarhus University and Philipp Sibbertsen, Leibniz University of Hannover

 
  LIKELIHOOD-BASED ESTIMATION OF COINTEGRATION RANK IN FRACTIONAL SYSTEMS
Paulius Stakenas, University of Amsterdam

 
  NO-ARBITRAGE NEAR-COINTEGRATED VAR(P) TERM STRUCTURE MODELS, TERM PREMIA AND GDP GROWTH
Fulvio Pegoraro, Banque de France
Co-Authors: Caroline Jardet, Banque de France and Alain Monfort, CREST

 
  ASYMPTOTIC THEORY FOR MAXIMUM LIKELIHOOD ESTIMATION IN STATIONARY FRACTIONAL GAUSSIAN PROCESSES, UNDER SHORT-, LONG- AND INTERMEDIATE MEMORY
Offer Lieberman, University of Haifa
Co-Authors: Roy Rosemarin, London School of economics and Judith Rousseau, CEREMADE
 

12:00 - 14:00 BUSINESS CYCLES (ESEM EEE)
Chairperson: Alessandra Luati, University of Bologna
Room

  INTERNATIONAL REAL BUSINESS CYCLES AND THE REAL EXCHANGE RATE, A NONLINEAR PERSPECTIVE.
Efthymios Pavlidis, Lancaster University Management School
Co-Authors: Ivan Paya, Lancaster University Management School and David Peel,

 
  COINTEGRATED TFP PROCESSES AND INTERNATIONAL BUSINESS CYCLES
Pau Rabanal, IMF
Co-Authors: Juan Rubio-Ramirez, Duke university and Vicente Tuesta, Central Bank of Peru

 
  HYPER-SPHERICAL AND ELLIPTICAL STOCHASTIC CYCLES
Alessandra Luati, University of Bologna
Co-Author: Tommaso Proietti, SEFEMEQ, University of Rome Tor Vergata
 

15:30 - 17:30 CONTRIBUTED SESSIONS 5
EEA



15:30 - 17:30 AGGLOMERATION ECONOMICS (EEA)
Chairperson: Florian Mayneris, Paris School of Economics
Room

  LOCATION MATTERS: ESTIMATING CLUSTER PREMIUMS FOR PROMINENT MODERN ARTISTS
Christiane Hellmanzik, Trinity College Dublin

 
  LOCATION PATTERNS OF SERVICES IN FRANCE: A DISTANCE-BASED APPROACH
Laure Crusson, Insee-Dares
Co-Authors: Muriel Barlet, Insee-Crest and Anthony Briant, Paris School of Economics

 
  ASSESSING AGGLOMERATION ECONOMIES IN A SPATIAL FRAMEWORK WITH ENDOGENOUS REGRESSORS
Ernest Miguelez, University of Barcelona
Co-Authors: Michael Artis, Swansea University and Rosina Moreno, University of Barcelona

 
  PUBLIC SUPPORT TO CLUSTERS A FIRM LEVEL STUDY OF FRENCH ``LOCAL PRODUCTIVE SYSTEMS''
Florian Mayneris, Paris School of Economics
Co-Authors: Philippe Martin, Paris School of Economics and Thierry Mayer, Paris School of Economics
 

15:30 - 17:30 AUCTIONS II (EEA)
Chairperson: Nicola Doni, University of Firenze
Room

  SUBSIDIES, KNAPSACK GAMES AND DANTZIG'S GREEDY HEURISTIC
Ludwig Ensthaler, HU Berlin / Graduate Center DIW Berlin
Co-Author: Thomas Giebe, Humboldt University at Berlin

 
  SIMULTANEOUS AND SEQUENTIAL AUCTIONS OF OLIGOPOLY LICENSES
Georgios Katsenos, Leibniz Universität Hannover

 
  INFORMATION DISCLOSURE IN PROCUREMENT AUCTIONS WITH HORIZONTALLY DIFFERENTIATED SUPPLIERS
Nicola Doni, University of Firenze
Co-Authors: Rupert Gatti, Trinity college, University of Cambridge and Vincenzo Valori, Department of Mathematics for Decisions, University of Firenze
 

15:30 - 17:30 BEHAVIORAL ECONOMICS II (EEA)
Chairperson: Christos Genakos, Cambridge University
Room

  GOOD POLICY CHOICES EVEN WHEN VOTERS ENTERTAIN BIASED BELIEFS: A MODEL WITH ENDOGENOUS VALENCE
Lars-H. Siemers, RWI Essen
Co-Author: Ivo Bischoff, Justus-Liebig-Universität Gießen

 
  A COGNITIVE HIERARCHY MODEL OF BEHAVIOR IN ENDOGENOUS TIMING GAMES
Daniel Carvalho, Universidade Nova de Lisboa (graduate student)
Co-Author: Luís Santos-Pinto, University of Lausanne

 
  THEORY OF MIND AND SOCIAL PREFERENCES
Kristina Leipold, TU Dresden
Co-Author: Marcus Dittrich, European Business School

 
  RISK TAKING AND PERFORMANCE IN MULTISTAGE TOURNAMENTS: EVIDENCE FROM WEIGHTLIFTING COMPETITIONS
Christos Genakos, Cambridge University
Co-Author: Mario Pagliero, Universitŕ di Torino and Collegio Carlo Alberto
 

15:30 - 17:30 BUSINESS CYCLES III (EEA)
Chairperson: Fabio Ghironi, Boston College
Room

  MULTI-PERIOD PUTTY-SEMI-CLAY PRODUCTION AND THE BUSINESS CYCLE
Repapis Constantinos, Faculty of Economics, University of Cambridge

 
  THE INFLUENCE OF THE BUSINESS CYCLE ON MORTALITY
Samad Sarferaz, University of Zurich
Co-Author: Wolfgang Reichmuth, Humboldt Universtiy of Berlin

 
  DO INSTITUTIONS MATTER FOR ECONOMIC FLUCTUATIONS? WEAK PROPERTY RIGHTS IN A BUSINESS CYCLE MODEL FOR MEXICO
George Economides, Department of International and European Economic Studies, Athens University of Economics and Business
Co-Authors: Konstantinos Angelopoulos, University of Glasgow and Vangelis Vassilatos,

 
  STOCK MARKET LISTING AND BUSINESS CYCLES WITH HETEROGENEOUS FIRMS
Fabio Ghironi, Boston College
Co-Author: Karen Lewis, University of Pennsylvania
 

15:30 - 17:30 CONTRACT THEORY (EEA)
Chairperson: Renaud Bourlčs, GREQAM and University Toulouse 1
Room

  PUSHING FOR COMPLIANCE: ON THE EMERGENCE OF "EXTREME" INCENTIVES
Caspar Siegert, University of Munich

 
  REPEATED MORAL HAZARD UNDER HABIT FORMATION
Sebastian Koehne, University of Mannheim

 
  MORAL HAZARD IN DYNAMIC INSURANCE, CLASSIFICATION RISK AND PREPAYMENT
Renaud Bourlčs, GREQAM and University Toulouse 1
 

15:30 - 17:30 CORPORATE FINANCE IV (EEA)
Chairperson: Christian Keuschnigg, University of St. Gallen
Room

  THE RISK AND RETURN CHARACTERISTICS OF PRIVATE EQUITY USING MARKET PRICES
Roman Kraeussl, VU University Amsterdam
Co-Authors: Narasimhan Jegadeesh, Goizueta Business School, Emory University and Joshua Pollet, Goizueta Business School, Emory University

 
  YOUR FORMER EMPLOYEES MATTER: PRIVATE EQUITY FIRMS AND THEIR FINANCIAL ADVISORS
Linus Siming, Stockholm School of Economics

 
  CORPORATE FINANCE AND COMPARATIVE ADVANTAGE
Christian Keuschnigg, University of St. Gallen
Co-Author: Peter Egger, Ifo Institute, LMU Munich
 

15:30 - 17:30 DEVELOPMENT III (EEA)
Chairperson: Ioana Schiopu, Institute for Economic Analysis (IAE-CSIC)
Room

  GENDER INEQUALITY, ENDOGENOUS CULTURAL NORMS AND ECONOMIC DEVELOPMENT
Victor Hiller, University of Paris I - Paris School of Economics

 
  LITERACY AND FEMALE STATUS IN GREEN REVOLUTION INDIA
Juan Pablo Rud, London School of Economics

 
  THE NETWORK STRUCTURE OF INFORMAL ARRANGEMENTS: EVIDENCE FROM RURAL TANZANIA
Margherita Comola, Paris School of Economics

 
  DIRECTED TECHNOLOGY ADOPTION AND HUMAN CAPITAL FORMATION IN DEVELOPING ECONOMIES
Ioana Schiopu, Institute for Economic Analysis (IAE-CSIC)
 

15:30 - 17:30 DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM MODELS (EEA)
Chairperson: Michael Reiter, IHS, Vienna
Room

  OPTIMAL MONETARY POLICY IN AN ESTIMATED DSGE MODEL FOR HUNGARY
Katalin Szilágyi, Magyar Nemzeti Bank
Co-Authors: Zoltán Jakab, Magyar Nemzeti Bank and Balázs Világi, Magyar Nemzeti Bank

 
  CREDIT AND BANKING IN A DSGE MODEL
Federico M. Signoretti, Banca d''Italia
Co-Authors: Andrea Gerali, Banca d'Italia, Stefano Neri, Banca d'Italia and Luca Sessa, Banca d'Italia

 
  MONETARY POLICY AND HOUSING PRICES IN AN ESTIMATED DSGE FOR THE US AND THE EURO AREA
Alessandro Notarpietro, Universitŕ Bocconi and Banca d''Italia

 
  APPROXIMATE AGGREGATION IN HETEROGENEOUS-AGENT MODELS
Michael Reiter, IHS, Vienna
 

15:30 - 17:30 ECONOMICS OF THE HOUSEHOLD III (EEA)
Chairperson: Dimitris Georgarakos, Goethe University, Frankfurt
Room

  THINGS MY MORTGAGE BROKER NEVER TOLD ME ABOUT HOMEOWNERSHIP: ESCROW, PROPERTY TAXES, AND MORTGAGE DELINQUENCY
Jane Dokko, Federal Reserve Board
Co-Author: Nathan Anderson, University of Illinois, Chicago

 
  UNDER PRESSURE: GENDER DIFFERENCES IN OUTPUT QUALITY AND QUANTITY UNDER COMPETITION AND TIME CONSTRAINTS
Olga Shurchkov, Wellesley College

 
  MORTGAGE INDEBTEDNESS AND HOUSEHOLD FINANCIAL DISTRESS
Dimitris Georgarakos, Goethe University, Frankfurt
Co-Authors: Adriana Lojschova, ECB and Melanie Ward-Warmedinger, European Central Bank
 

15:30 - 17:30 EDUCATION POLICY II (EEA)
Chairperson: Augusto Rupérez Micola, Universitat Pompeu Fabra - Barcelona GSE
Room

  MALARIA AND PRIMARY EDUCATION IN MALI: A LONGITUDINAL STUDY IN THE VILLAGE OF DONÉGUÉBOUGOU.
Josselin Thuilliez, CES-CNRS, Université Paris 1- Panthéon Sorbonne

 
  STIMULATING GRADUATES' RESEARCH-ORIENTED CAREERS: DOES ACADEMIC RESEARCH MATTER?
Mauro Sylos Labini, IMT Lucca
Co-Author: Natalia Zinovyeva, FEDEA

 
  PRIVATE INVESTMENT IN HIGHER EDUCATION: COMPARING ALTERNATIVE FUNDING SCHEMES
Itzhak Zilcha, Tel Aviv University

 
  TV OR NOT TV? SUBTITLES, ENGLISH SKILLS AND ECONOMIC OUTCOMES
Augusto Rupérez Micola, Universitat Pompeu Fabra - Barcelona GSE
Co-Authors: Albert Banal-Estanol, and Arturo Bris,
 

15:30 - 17:30 EMPIRICAL FINANCE II (EEA)
Chairperson: Aitor Calo, UNIVERSIY OF ALICANTE
Room

  THE PRIVATE EQUITY PREMIUM PUZZLE REVISITED – NEW EVIDENCE ON THE ROLE OF HETEROGENEOUS RISK ATTITUDES
Frank Fossen, DIW Berlin

 
  TRUST, SOCIABILITY AND STOCK MARKET PARTICIPATION
Giacomo Pasini, University of Venice and NETSPAR
Co-Author: Dimitris Georgarakos, Goethe University, Frankfurt

 
  RISK AND DISCOUNT RATES
Huntley Schaller, Princeton University

 
  EQUALITY OF OPPORTUNITY AND OPTIMAL EFFORT DECISION UNDER UNCERTAINTY
Aitor Calo, UNIVERSIY OF ALICANTE
 

15:30 - 17:30 EMPIRICAL INDUSTRIAL ORGANIZATION II (EEA)
Chairperson: Saul Lach, The Hebrew University
Room

  DO AUCTIONS AND FORCED DIVESTITURES INCREASE COMPETITION? EVIDENCE FOR RETAIL GASOLINE MARKETS
Pim Heijnen, University of Amsterdam
Co-Authors: Marco, A Haan, University of Groningen and Adriaan Soetevent, University of Amsterdam

 
  DOES FIRM PRODUCTIVITY SHAPE THE OPTIMAL PRODUCT MIX?
Todor Gradev, University College Dublin
Co-Author: Lubomir Dimitrov, Agency for Economic Forecasting and Analysis

 
  ENDOGENOUS FIRM HETEROGENEITY, ICT AND R&D INCENTIVES
Daniel Cerquera, ZEW, Mannheim
Co-Author: Gordon Klein, Centre for European Economic Research (ZEW)

 
  ASYMMETRIC PRICE EFFECTS OF COMPETITION
Saul Lach, The Hebrew University
Co-Author: Jose Luis Moraga-Gonzalez, University of Groningen
 

15:30 - 17:30 FERTILITY II (EEA)
Chairperson: Ghazala Azmat, Universitat Pompeu Fabra
Room

  JOB LOSS AND FERTILITY
Jenni Kellokumpu, University of Jyväskylä
Co-Author: Kristiina Huttunen, LAbour Institute for Economic Research

 
  EXPLAINING HOW DELAYED MOTHERHOOD AFFECTS FERTILITY DYNAMICS IN EUROPE
Tatsiramos Konstantinos, IZA
Co-Author: Massimiliano Bratti, University of Milan

 
  TARGETING FERTILITY AND FEMALE PARTICIPATION THROUGH THE INCOME TAX
Ghazala Azmat, Universitat Pompeu Fabra
Co-Author: Libertad González, University Pompeu Fabra
 

15:30 - 17:30 FISCAL POLICY I (EEA)
Chairperson: Giovanni Melina, Birkbeck College, University of London
Room

  POLITICALLY OPTIMAL FISCAL POLICY
Irina Yakadina, International Monetary Fund
Co-Author: Michael Kumhof, International Monetary Fund

 
  THE ROLE OF FISCAL TRANSFERS FOR REGIONAL ECONOMIC CONVERGENCE IN EUROPE
Cristina Checherita, George Mason University
Co-Authors: Christiane Nickel , European Central Bank and Philipp Rother, European Central Bank

 
  TESTING THE FTPL ACROSS GOVERNMENT TIERS
Peter Claeys, Universitat de Barcelona
Co-Authors: Surińach Jordi, Grup AQR-IREA and Raul Ramos, Grup AQR-IREA

 
  US FISCAL EXPENDITURES, INFLATION AND OUTPUT
Giovanni Melina, Birkbeck College, University of London
Co-Author: Yunus Aksoy, Birckbeck College
 

15:30 - 17:30 GROWTH III (EEA)
Chairperson: Alessandra Bonfiglioli, IAE-CSIC
Room

  KNIFE-EDGE CONDITIONS IN THE MODELING OF LONG-RUN GROWTH REGULARITIES
Jakub Growiec, Warsaw School of Economics

 
  ON THE GOLDEN RULE OF CAPITAL ACCUMULATION UNDER ENDOGENOUS LONGEVITY
Gregory Ponthiere, Ecole normale superieure, Paris
Co-Author: David de la Croix, CORE Université catholique de Louvain

 
  PATIENCE AND PROSPERITY - A SIMPLE THEORY OF TIME PREFERENCE AND ECONOMIC GROWTH
Holger Strulik, University of Hannover

 
  GROWTH, SELECTION AND APPROPRIATE CONTRACTS
Alessandra Bonfiglioli, IAE-CSIC
Co-Author: Gino Gancia,
 

15:30 - 17:30 HEALTH ECONOMICS II (EEA)
Chairperson: Subramaniam Ramanarayanan, UCLA Anderson School of Management
Room

  A NEW RATIONALE FOR COST REIMBURSEMENT: PRICE REGULATION WITH HORIZONTAL AND VERTICAL DIFFERENTIATION
Chiara Canta, Toulouse School of Economics
Co-Authors: David Bardey, University of Rosario, Bogota and Jean-Marie Lozachmeur, Toulouse School of Economics, CNRS and IDEI

 
  CROWDING OUT INFORMAL CARE? EVIDENCE FROM A SOCIAL EXPERIMENT IN GERMANY.
Stephan L. Thomsen, Otto-von-Guericke University Magdeburg
Co-Author: Melanie Arntz, ZEW Mannheim

 
  RESPONDING TO FINANCIAL PRESSURES. THE EFFECT OF MANAGED CARE ON HOSPITAL´S PROVISION OF CHARITY CARE
Núria Mas, IESE Business School

 
  PAYING A PREMIUM ON YOUR PREMIUM? CONSOLIDATION IN THE US PRIVATE HEALTH INSURANCE INDUSTRY
Subramaniam Ramanarayanan, UCLA Anderson School of Management
Co-Authors: Leemore Dafny, and Mark Duggan,
 

15:30 - 17:30 INDUSTRIAL ORGANIZATION: REGULATION II (EEA)
Chairperson: Joao Correia-da-Silva, University of Porto
Room

  IMPERFECT LEGAL UNBUNDLING OF MONOPOLISTIC BOTTLENECKS
Sebastian Kranz, University of Bonn
Co-Author: Felix Höffler, WHU − Otto Beisheim School of Management

 
  INFORMATION-SHARING BETWEEN COMPETITION AUTHORITIES: THE CASE OF A MULTINATIONAL MERGER
Marta Troya Martinez, University of Oxford

 
  TOC ’N’ ROLL: BARGAINING, SERVICE QUALITY AND SPECIFICITY IN THE UK RAILWAY NETWORK
Piercarlo Zanchettin, University of Leicester
Co-Authors: Gianni De Fraja, University of Leicester and Michetti Emanuela, University of Siena, NERA

 
  USING COST OBSERVATION TO REGULATE BUREAUCRATIC FIRMS
Joao Correia-da-Silva, University of Porto
Co-Author: Ana Borges, University of Porto
 

15:30 - 17:30 INFORMATION ECONOMICS (EEA)
Chairperson: Wanda Mimra, University of Cologne
Room

  CREDIBILITY FOR SALE : THE EFFECT OF DISCLOSURE ON INFORMATION ACQUISITION AND TRANSMISSION
Timofiy Mylovanov, University of Bonn

 
  INFORMATIONAL HOLD-UP, DISCLOSURE POLICY, AND CAREER CONCERNS ON THE EXAMPLE OF OPEN SOURCE SOFTWARE DEVELOPMENT
Marc Blatter, University of Bern, Department of Economics
Co-Author: Andras Niedermayer, Kellogg School of Management, CMS-EMS, Northwestern University

 
  CROSS-SUBSIDIZING AND PROFIT-MAKING EQUILIBRIA IN A COMPETITIVE INSURANCE MODEL WITH ASYMMETRIC INFORMATION
Wanda Mimra, University of Cologne
Co-Author: Achim Wambach, University of Cologne
 

15:30 - 17:30 INTERNATIONAL FINANCE AND EXCHANGE RATES (EEA)
Chairperson: Erik Hjalmarsson, Federal Reserve Board
Room

  THE ACCUMULATION OF FOREIGN EXCHANGE BY CENTRAL BANKS: FEAR OF CAPITAL MOBILITY?
Andreas Steiner, University of Mannheim

 
  FORECASTING EXCHANGE RATES OF MAJOR CURRENCIES WITH LONG MATURITY FORWARD RATES
Zsolt Darvas, Bruegel
Co-Author: Zoltan Schepp, University of Pecs

 
  INTERNATIONAL FINANCIAL MARKETS' INFUENCE ON THE WELFARE PERFORMANCE OF ALTERNATIVE EXCHANGE RATE REGIMES
Mathias Hoffmann, Deutsche Bundesbank

 
  RISE OF THE MACHINES: ALGORITHMIC TRADING IN THE FOREIGN EXCHANGE MARKET
Erik Hjalmarsson, Federal Reserve Board
Co-Authors: Alain Chaboud, Federal Reserve Board, Benjamin Chiquoine, Federal Reserve Board and Clara Vega, Federal Reserve Board
 

15:30 - 17:30 INTERNATIONAL TRADE: EMPIRICAL STUDIES II (EEA)
Chairperson: Clément Bosquet, GREQAM, Aix-Marseille Université
Room

  NETWORKS AND TRADE: EVIDENCE FROM THE JEWISH DIASPORA
Lisandra Flach, University of Mannheim
Co-Author: Gabriel Felbermayr, University of Hohenheim

 
  CONTINENTAL BIAS IN TRADE
Rafael Llorca-Vivero, University of Valencia
Co-Authors: José Antonio Martínez-Serrano, University of Valencia and Gil-Pareja Salvador, University of Valencia

 
  WHAT REMAINS PUZZLING IN THE ANALYSIS OF THE "DISTANCE PUZZLE"
Clément Bosquet, GREQAM, Aix-Marseille Université
Co-Author: Hervé Boulhol, OECD and Université Paris 1 Panthéon-Sorbonne
 

15:30 - 17:30 LABOR MARKETS: EMPIRICAL STUDIES I (EEA)
Chairperson: John Haisken-DeNew, RWI Essen
Room

  SEVERANCE PAYMENTS: EQUILIBRIUM WELFARE EFFECTS IN A MODEL WITH HETEROGENEOUS WORKERS
Marco Cozzi, Queen''s University
Co-Authors: Giulio Fella, Queen Mary and UPENN and Gianluca Violante, New York University

 
  THE DYNAMICS OF SCHOOLING ATTAINMENTS AND EMPLOYMENT CONTRACTS IN THE EARLY CAREER
François Poinas, Université de Lyon - CNRS - GATE

 
  FIXED-TERM CONTRACTS, INCENTIVES AND EFFORT
Pauline Givord, INSEE
Co-Author: Lionel Wilner, CREST-INSEE

 
  BLOOD MONEY: INCENTIVES FOR VIOLENCE IN NHL HOCKEY
John Haisken-DeNew, RWI Essen
Co-Author: Matthias Vorell, RWI Essen
 

15:30 - 17:30 MONETARY POLICY III (EEA)
Chairperson: Jan-Egbert Sturm, KOF, ETH Zurich
Room

  OPTIMUM DEBT WITH INFLATION, HETEROGENEOUS AGENTS, AND BORROWING CONSTRAINTS
Sébastien Langlois, EPEE, Université d''Evry Val d''Essonne

 
  MONETARY POLICY AND THE FINANCING OF FIRMS
Fiorella De Fiore, European Central Bank
Co-Authors: Pedro Miguel Teles, Banco de Portugal, Universidade Catolica Portuguesa, and Centre for Economic Policy Research and Oreste Tristani, European Central Bank

 
  THE EXTENSIVE MARGIN OF TRADE UNDER ALTERNATIVE MONETARY POLICY REGIMES
AURELIEN EYQUEM, Université de Lyon & Ecole Normale Supérieure LSH
Co-Authors: STEPHANE AURAY, EQUIPPE UNIVERSITE LILLE and Jean-Christophe Poutineau, Université Rennes 1

 
  IS CENTRAL BANK COMMUNICATION REALLY INFORMATIVE WHEN FORECASTING INTEREST RATE DECISIONS? NEW EVIDENCE BASED ON A TAYLOR RULE MODEL FOR THE ECB
Jan-Egbert Sturm, KOF, ETH Zurich
Co-Author: Jakob De Haan, University of Groningen
 

15:30 - 17:30 NATURAL RESOURCE ECONOMICS II (EEA)
Chairperson: Christian Traeger, UC Berkeley, ARE
Room

  CARBON CAPTURE AND STORAGE & THE OPTIMAL PATH OF THE CARBON TAX
Thomas Lontzek, Kiel Institute for the World Economy

 
  OPTIMAL GLOBAL CARBON MANAGEMENT WITH OCEAN SEQUESTRATION
Wilfried Rickels, Institute for the World Economy
Co-Author: Thomas Lontzek, Kiel Institute for the World Economy

 
  THE SOCIAL DISCOUNT RATE UNDER INTERTEMPORAL RISK AVERSION AND AMBIGUITY
Christian Traeger, UC Berkeley, ARE
 

15:30 - 17:30 POLITICAL ECONOMY IV (EEA)
Chairperson: Johannes Muenster, Free U Berlin and WZB
Room

  MEN, WOMEN, AND THE BALLOT. WOMAN SUFFRAGE IN THE UNITED STATES
Michael Kvasnicka, RWI Essen
Co-Author: Sebastian Braun, Humboldt University Berlin

 
  PRIVATE INCENTIVES VERSUS CLASS INTERESTS: A THEORY OF OPTIMAL INSTITUTIONS WITH AN APPLICATION TO GROWTH
Levon Barseghyan, Cornell University
Co-Author: Ani Guerdjikova, Cornell University

 
  TERM LENGTH AND POLITICAL PERFORMANCE
Martin Rossi, Universidad de San Andres
Co-Author: Ernesto Dal Bó, University of California at Berkeley - Haas School of Business

 
  LONG LIVE THE KING? ON DICTATORSHIP AND DEVELOPMENT
Johannes Muenster, Free U Berlin and WZB
Co-Author: Ashish Chaturvedi, GTZ
 

15:30 - 17:30 TAX COMPETITION (EEA)
Chairperson: Ferdinand Mittermaier, University of Munich
Room

  TAX COMPETITION AND INCOME SORTING: EVIDENCE FORM THE ZURICH METROPOLITAN AREA
Frank Somogyi, ETH Zürich, KOF Swiss Economic Institute
Co-Authors: Christoph Schaltegger, and Jan-Egbert Sturm, KOF, ETH Zurich

 
  THE COST OF TAX COMPETITION. INSIGHTS FROM A DYNAMIC TWO-COUNTRY MODEL
Eva Luthi, Universitat Pompeu Fabra

 
  HOW LOW BUSINESS TAX RATES ATTRACT MULTINATIONAL HEADQUARTERS: MUNICIPALITY-LEVEL EVIDENCE FROM GERMANY
Valeria Merlo, ifo Institute for Economic Research at the University of Munich
Co-Authors: Sascha Becker, University of Stirling and Peter Egger, Ifo Institute, LMU Munich

 
  COMPETITION FOR CAPITAL AND GOVERNMENT-INDUCED OFFSHORING UNDER ASYMMETRIC UNIONIZATION
Ferdinand Mittermaier, University of Munich
Co-Author: Hyun-Ju Koh, University of Munich
 

15:30 - 17:30 CONTRIBUTED SESSIONS 5
ESEM: Theoretical and Applied Economics



15:30 - 17:30 CONTRACTS AND TEAMS (ESEM TAE)
Chairperson: Alessandro Bonatti, Yale University
Room

  COORDINATION UNDER THE SHADOW OF CAREER CONCERNS
Alexander K Koch, Aarhus University
Co-Author: Albrecht Morgenstern, German Federal Chancellery and IZA

 
  FREE-RIDING AND DELEGATION IN RESEARCH TEAMS
Nicolas Klein, University of Munich

 
  INFORMATION ACQUISITION AND THE ORGANIZATION OF EXPERTISE IN THE PRESENCE OF COMMUNICATION
Flavia Roldán, IESE, Bussiness School

 
  COLLABORATING
Alessandro Bonatti, Yale University
Co-Author: Johannes Horner,
 

15:30 - 17:30 BOUNDED RATIONALITY (ESEM TAE)
Chairperson: Dorothea Kuebler, Technical University Berlin
Room

  RATIONAL AGENTS ARE THE QUICKEST
Michael Mandler, Royal Holloway College, University of London

 
  RATIONALIZABILITY OF CHOICE BY SEQUENTIAL PROCEDURES
Jose Apesteguia, Universitat Pompeu Fabra
Co-Author: Miguel A. Ballester, Universitat Autonoma Barcelona

 
  REASON-BASED CHOICE: A BARGAINING RATIONALE FOR THE ATTRACTION AND COMPROMISE EFFECTS
Geoffroy de Clippel, Brown University
Co-Author: Kfir Eliaz, Brown University

 
  INFORMATION AND BELIEFS IN A REPEATED NORMAL-FORM GAME
Dorothea Kuebler, Technical University Berlin
Co-Authors: David Danz, Technical University Berlin and Dietmar Fehr, TU Berlin
 

15:30 - 17:30 DECISION AND RISK (ESEM TAE)
Chairperson: Monika Bier, Bielefeld University
Room

  THE BEST CHOICE PROBLEM UNDER AMBIGUITY
Tatjana Chudjakow, Institute for Mathematical Economics, Bielefeld University
Co-Author: Frank Riedel, University of Bielefeld

 
  SUBJECTIVE MEASURES OF RISK
Eduardo Zambrano, Cal Poly

 
  VARIANCE, RISK AND MEDIAN PRESERVING SPREADS
Semyon Malamud, ETH Zurich
Co-Author: Fabio Trojani, University of Lugano

 
  CHARACTERIZATION OF TIME-CONSISTENT SETS OF MEASURES IN FINITE TREES
Monika Bier, Bielefeld University
Co-Author: Frank Riedel, University of Bielefeld
 

15:30 - 17:30 POLITICAL ECONOMY II (ESEM TAE)
Chairperson: Alessandro Riboni, University of Montreal
Room

  A COMMUNICATION GAME ON ELECTORAL PLATFORMS
Karine Van der Straeten, Toulouse School of Economics
Co-Author: Gabrielle Demange, Paris School of Economics

 
  HOW MUCH DISCRETION FOR AGENCIES? A POLITICAL-ECONOMY PERSPECTIVE ON RISK REGULATION
Yolande Hiriart, Toulouse School of Economics (Idei-Lerna)
Co-Author: David Martimort, Toulouse School of Economics (Idei, Gremaq and EHESS)

 
  IDEOLOGUES: EXPLAINING PARTISANSHIP AND PERSISTENCE IN POLITICS (AND ELSEWHERE)
Benno Buehler, Toulouse School of Economics / LMU Munich
Co-Author: Anke Kessler, Simon Fraser University

 
  IDEOLOGY AND ENDOGENOUS CONSTITUTIONS
Alessandro Riboni, University of Montreal
 

15:30 - 17:30 TAXATION I (ESEM TAE)
Chairperson: Guy Laroque, Crest and UCL
Room

  ON THE ASSUMPTIONS OF THE OPTIMAL TAXATION PROBLEM: IS DISTORTIONARY TAXATION A BURDEN OR A BLESSING?
Pedro Teles, Banco de Portugal, Universidade Catolica Portuguesa and CEPR

 
  OPTIMAL NONLINEAR INCOME TAX WHEN HIGHLY SKILLED VOTE WITH THEIR FEET
Laurent Simula, National University of Singapore
Co-Author: Alain Trannoy, EHESS and GREQAM

 
  REDISTRIBUTIVE TAXATION AND PUBLIC EXPENDITURES
Sanghamitra Bandyopadhyay, Nuffield College, Oxford University and Dept of Economics, LSE
Co-Author: Joan Esteban, IAE, CSIC, Barcelona

 
  SEPARABILITY AND PUBLIC FINANCE
Guy Laroque, Crest and UCL
Co-Author: Stephane Gauthier, ENSAE-CREST
 

15:30 - 17:30 BUSINESS CYCLES III (ESEM TAE)
Chairperson: Oleksiy Kryvtsov, Bank of Canada
Room

  MANY SECTORS MEET MORE SKILLS: INTERSECTORAL LINKAGES AND THE SKILL BIAS OF TECHNOLOGY
Nico Voigtlaender, UCLA

 
  COMOVEMENT IN BUSINESS CYCLE MODELS: THE ROLE OF NONSEPARABLE PREFERENCES AND LABOR MARKET PARTICIPATION
Stefano Eusepi, Federal reserve bank of new york
Co-Author: Bruce Preston, Columbia University and NBER

 
  FINANCIAL FACTORS AND LABOR MARKET FLUCTUATIONS
Yahong Zhang, Bank of Canada

 
  INVESTMENT AND THE REAL INTEREST RATE IN BUSINESS CYCLE MODELS
Oleksiy Kryvtsov, Bank of Canada
Co-Authors: Chris Edmond, New York University and Virgiliu Midrigan, New York University
 

15:30 - 17:30 MONETARY POLICY III (ESEM TAE)
Chairperson: Xavier Fairise, EPEE, University of Evry
Room

  FOOD PRICES AND MONETARY POLICY
Luis Catao, Inter-American Development Bank
Co-Authors: Roberto Chang, Rutgers University and NBER, Roberto Chang, Rutgers University and NBER, Roberto Chang, Rutgers University and NBER and Roberto Chang, Rutgers University and NBER

 
  THE WALL STREET CONCERNS MIGHT BE RIGHT: EQUILIBRIUM CORRELATIONS OF ASSET PRICE DO CHANGE WITH MONETARY POLICY
Charles Leung, City University Hong Kong
Co-Author: Wing Leong Teo, National Taiwan University

 
  TRADE AND OPTIMAL MONETARY POLICY
Giovanni Lombardo, European Central Bank
Co-Author: Federico Ravenna, University of California - Santa Cruz

 
  MONETARY POLICY IN EMERGING MARKETS, LABOR MARKET SEARCH AND EXCHANGE RATE PASS-THROUGH
Xavier Fairise, EPEE, University of Evry
 

15:30 - 17:30 LABOR MARKETS II (ESEM TAE)
Chairperson: Tarjei Havnes, ESOP/University of Oslo
Room

  HOUSING LIQUIDITY, MOBILITY, AND THE LABOUR MARKET
Allen Head, Department of Economics, Queen''s University
Co-Author: Huw Lloyd-Ellis, Queen's University

 
  LABOR SUPPLY IN A FRICTIONAL LABOR MARKET
Aysegul Sahin, NYFED
Co-Authors: Per Krusell, Princeton University, Toshihiko Mukoyama, University of Virginia and Richard Rogerson, Arizona State University

 
  THE MYTH OF EQUALIZING DIFFERENCES IN THE LABOR MARKET
Seungjin Han, McMaster University

 
  THE IRRELEVANCE OF SUBSIDIZED CHILD CARE FOR MATERNAL EMPLOYMENT
Tarjei Havnes, ESOP/University of Oslo
Co-Author: Magne Mogstad, Statistics Norway
 

15:30 - 17:30 MACROECONOMICS: ASSET MARKETS (ESEM TAE)
Chairperson: Johannes Gierlinger, Toulouse School of Economics
Room

  HEALTH AND (OTHER) ASSET HOLDINGS
Pascal St-Amour, University of Lausanne
Co-Authors: Julien Hugonnier, University of Lausanne - Ecole HEC and Florian Pelgrin, University of Lausanne - Faculty of HEC

 
  ANNUITY MARKET IMPERFECTION, RETIREMENT AND ECONOMIC GROWTH
Jochen Mierau, University of Groningen
Co-Author: Ben Heijdra, University of Groningen

 
  RISK SHARING WITH UNKNOWN PROBABILITIES
Johannes Gierlinger, Toulouse School of Economics

 
  AMBIGUITY, INFORMATION QUALITY AND CREDIT RISK
Nina Boyarchenko, University of Chicago, Booth School of Business
 

15:30 - 17:30 CONTRIBUTED SESSIONS 5
ESEM: Econometrics and Empirical Economics



15:30 - 17:30
CONTRIBUTED SESSIONS ECONOMETRICS 5 (ESEM EEE)

FERTILITY AND EDUCATION (ESEM EEE)
Chairperson: Thierry Kamionka, CNRS and CREST
Room

  NEW EVIDENCE ON THE CAUSAL IMPACT OF EDUCATION ON FERTILITY
Margherita Fort, Department of Economics

 
  EDUCATION VERSUS FERTILITY: EVIDENCE FROM BEFORE THE DEMOGRAPHIC TRANSITION
Francesco Cinnirella, Ifo Institute for Economic Research
Co-Authors: Sascha Becker, University of Stirling and Ludger Wössmann, Ifo Insitute of Economic Research

 
  FERTILITY, PARENTAL EDUCATION AND DEVELOPMENT IN INDIA IN 1992-2006
Katsushi Imai, University of Manchester
Co-Author: Takahiro Sato , Kobe University

 
  DYNAMIC MODELING OF FERTILITY AND LABOR MARKET PARTICIPATION OF MARRIED OR COHABITING WOMEN
Thierry Kamionka, CNRS and CREST
Co-Author: Cyriaque Edon, Université Catholique de Louvain and IRES
 

15:30 - 17:30 TESTING (ESEM EEE)
Chairperson: Paulo Santos Monteiro, University of Warwick
Room

  TESTING THE PREDICTIVE ABILITY OF TECHNICAL ANALYSIS USING A NEW STEPWISE TEST WITHOUT DATA SNOOPING BIAS
Chung-Ming Kuan, National Taiwan University
Co-Authors: Po-Hsuan Hsu, U of Connecticut and Yu-Chin Hsu, U of Texas, Austin

 
  TESTING LINEAR CAUSALITY IN MEAN IN PRESENCE OF OTHER FORMS OF CAUSALITY
Hamdi Raďssi, INSA-IRMAR

 
  INTEGRATED CONDITIONAL MOMENT TESTS FOR PARAMETRIC CONDITIONAL DISTRIBUTIONS
Herman Bierens, Pennsylvania State University
Co-Author: Li Wang, PennState College of Medicine

 
  TESTING FOR THE DEGREE OF COMMITMENT VIA SET-IDENTIFICATION
Paulo Santos Monteiro, University of Warwick
Co-Authors: Laura Coroneo, ECARES and Valentina Corradi, Warwick
 

15:30 - 17:30 TREATMENT EFFECTS 2 (ESEM EEE)
Chairperson: Jinhyun Lee, UCL
Room

  QUANTILE TREATMENT EFFECTS IN THE REGRESSION DISCONTINUITY DESIGN
Blaise Melly, Brown University
Co-Author: Markus Frölich, Universität Mannheim

 
  A DISTRIBUTIONAL ANALYSIS OF TREATMENT EFFECTS ON SUBPOPULATIONS OF A SOCIOECONOMIC EXPERIMENT
Marcel Voia, Carleton University
Co-Author: Ricardas Zitikis, University of Western Ontario

 
  A DISTRIBUTIONAL ANALYSIS OF DISPLACEMENT COSTS IN AN ECONOMIC DEPRESSION AND RECOVERY
Ossi Korkeamäki, Government Institute for Economic Research
Co-Author: Tomi Kyyrä, Government Institute for Economic Research

 
  BOUNDS FOR QUANTILES OF TREATMENT EFFECTS
Jinhyun Lee, UCL
 

15:30 - 17:30 ASSET PRICING 1 (ESEM EEE)
Chairperson: Marco Bonomo, EPGE, Getulio Vargas Foundation
Room

  THE TERM STRUCTURE OF VARIANCE RISK PREMIA
Dante Amengual, Princeton University

 
  THE TERM STRUCTURE OF INTEREST RATES IN AN EQUILIBRIUM ECONOMY WITH SHORT TERM AND LONG TERM INVESTMENTS
Carles Vergara-Alert, IESE Business School

 
  THE IMPLIED EQUITY DURATION - EMPIRICAL EVIDENCE FOR EXPLAINING THE VALUE PREMIUM
David Schroeder, EDHEC Business School
Co-Author: Florian Esterer, Swisscanto AG

 
  DISAPPOINTMENT AVERSION, LONG-RUN RISKS AND AGGREGATE ASSET PRICES
Marco Bonomo, EPGE, Getulio Vargas Foundation
Co-Authors: René Garcia, , Nour Meddahi, Toulouse School of Economics and Roméo Tédongap, Stockholm School of Economics
 

15:30 - 17:30 FIRM DYNAMICS (ESEM EEE)
Chairperson: Daniel Baumgarten, Ruhr Graduate School in Economics
Room

  TECHNOLOGY DIFFUSION AND FIRM DYNAMICS IN OPEN ECONOMY
Dan Lu,

 
  INDUSTRY DYNAMICS IN GROWING MARKETS
Kyoo il Kim, University of Minnesota
Co-Author: Minjung Park, University of Minnesota

 
  ESTIMATION OF LINKED EMPLOYER-EMPLOYEE PANEL DATA MODELS WITH FIRM- AND PERSON EFFECTS: A STATE SPACE FORMULATION
Arvid Raknerud, Statistics Norway

 
  INTERNATIONAL OUTSOURCING, THE NATURE OF TASKS AND OCCUPATIONAL STABILITY: EMPIRICAL EVIDENCE FOR GERMANY
Daniel Baumgarten, Ruhr Graduate School in Economics
 

15:30 - 17:30 MISSING DATA (ESEM EEE)
Chairperson: Siem Jan Koopman, VU University, Amsterdam
Room

  A MODEL-AVERAGING APPROACH TO REGRESSION WITH MISSING COVARIATES
Franco Peracchi, Tor Vergata University

 
  EVALUATING THE EFFECT OF TRAINING ON WAGES IN THE PRESENCE OF NONCOMPLIANCE AND MISSING OUTCOME DATA
Fabrizia Mealli, University of Florence
Co-Authors: Paolo Frumento, University of Florence, Barbara Pacini, University of Pisa and Donald Rubin, Harvard University

 
  AN EFFICIENT ESTIMATOR FOR DEALING WITH MISSING DATA ON EXPLANATORY VARIABLES IN A PROBIT CHOICE MODEL
Donal O'Neill, NUI Maynooth
Co-Author: Denis Conniffe, NUI Maynooth

 
  DYNAMIC FACTOR ANALYSIS IN THE PRESENCE OF MISSING DATA
Siem Jan Koopman, VU University, Amsterdam
Co-Authors: Borus Jungbacker, VU University Amsterdam and Michel van der Wel, Econometric Institute, Erasmus University Rotterdam and CREATES
 

15:30 - 17:30 STRUCTURAL BREAKS (ESEM EEE)
Chairperson: Meller Barbara, Goethe University Frankfurt
Room

  TESTS FOR MULTIPLE BREAKS IN THE TREND WITH STATIONARY OR INTEGRATED SHOCKS
Luis Catela Nunes, Universidade Nova de Lisboa and Nuno Sobreira, Universidade Nova de Lisboa

 
  MACROECONOMIC FORECASTING AND STRUCTURAL CHANGE
D''Agostino Antonello, Central Bank of Ireland
Co-Authors: Luca Gambetti, Universitat Autonoma de Barcelona and Domenico Giannone, ECB

 
  DETECTING A CHANGE IN INFLATION PERSISTENCE IN THE PRESENCE OF LONG MEMORY: A NEW TEST
Meller Barbara, Goethe University Frankfurt
Co-Author: Uwe Hassler, Goethe University Frankfurt
 

15:30 - 17:30 VOLATILITY 2 (ESEM EEE)
Chairperson: Claudio Morana, Universita'' cel Piemonte Orientale
Room

  A CANONICAL VINE AUTOREGRESSIVE MODEL FOR LARGE DIMENSIONS
Alfonso Valdesogo Robles, CORE - Catholic University of Louvain
Co-Author: Andreas Heinen , Universidad Carlos III de Madrid - Department of Statistics and Econometrics

 
  CONSISTENT RANKING OF MULTIVARIATE VOLATILITY MODELS
Francesco Violante, FUNDP Namur and CORE-UCLouvain
Co-Authors: Sébastien Laurent, FUNDP, Namur and CORE. and Jeroen Rombouts, HEC Montreal.

 
  THE CURRENT ACCOUNT AND MACROECONOMIC ADJUSTMENT UNDER RATIONAL INATTENTION
Qiang Zhang, University of Leicester
Co-Author: Yulei Luo, University of Hong Kong

 
  MODELING LONG MEMORY AND STRUCTURAL BREAKS IN CONDITIONAL VARIANCES: AN ADAPTIVE FIGARCH APPROACH.
Claudio Morana, Universita'' cel Piemonte Orientale
 

15:30 - 17:30 SUBJECTIVE RESPONSES (ESEM EEE)
Chairperson: Justina Fischer, OECD
Room

  DO DANES AND ITALIANS RATE LIFE SATISFACTION IN THE SAME WAY? USING VIGNETTES TO CORRECT FOR INDIVIDUAL-SPECIFIC SCALE BIASES.
Viola Angelini, University of Padua
Co-Authors: Danilo Cavapozzi, University of Padua, Luca Corazzini, University of Padua and Omar Paccagnella, University of Padua

 
  INATTENTIVE PROFESSIONAL FORECASTERS
Philippe Andrade, Banque de France
Co-Author: Hervé Le Bihan, Banque de France

 
  HAPPINESS AND AGE CYCLES – RETURN TO START…
Justina Fischer, OECD
 

15:30 - 17:30 YIELD CURVE (ESEM EEE)
Chairperson: Paul Bekker, University of Groningen
Room

  THRESHOLD QUANTILE AUTOREGRESSIVE MODELS
Gabriel Montes-Rojas, City University, London
Co-Authors: Antonio Galvao, University of Illinois at Urbana-Champaign and Jose Olmo, City University, London

 
  SHORT-TERM FORECASTING OF ZERO-COUPON YIELD CURVES
Robert Ferstl, Universität Regensburg
Co-Author: Josef Hayden, University of Regensburg

 
  RISK PREMIUMS OF EXCESS BOND RETURNS HAVE A UNIT ROOT
Daniela Osterrieder, Maastricht University
Co-Author: Peter C. Schotman, Maastricht University, CEPR, and NETSPAR

 
  RISK-FREE INTEREST RATES DRIVEN BY CAPITAL MARKET RETURNS
Paul Bekker, University of Groningen
 

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