ESWC 2010: Congress Programme

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WEDNESDAY 18 AUGUST 2010


DAY OVERVIEW
09:00 - 10:45 PAIRED INVITED SESSIONS
11:15 - 12:45 CONTRIBUTED SESSIONS
13:00 - 14:00 POLICY SESSION
14:15 - 16:15 CONTRIBUTED SESSIONS
16:45 - 18:15 PLENARY SESSION


09:00 - 10:45 PAIRED INVITED SESSIONS



09:00 - 10:45 CONTRACTS
Chairperson: Jacques Cr�mer, Toulouse School of Economics
Discussant: Johannes H�rner, Yale University
Room Yellow River Hall

  CONTRACTS: THEORY OF DYNAMIC PRINCIPAL-AGENT RELATIONSHIPS AND THE CONTINUOUS-TIME APPROACH
Yuliy Sannikov, Princeton University

 
  DYNAMIC FINANCIAL CONTRACTING
Bruno Biais, Toulouse School of Economics
Co-Authors: Thomas Mariotti, Toulouse School of Economics and Jean-Charles Rochet, Universty of Zurich - TSE
 

09:00 - 10:45 POLITICAL ECONOMY
Chairperson: Elhanan Helpman, Harvard University
Discussant: Marco Battaglini, Princeton University
Room Auditorium

  CONDITIONAL COMPARATIVE STATICS
James Robinson, Harvard University

 
  THE POLITICAL ECONOMY OF MASS MEDIA
David Str�mberg, Stockholm University
Co-Author: Andrea Prat, London School of Economics
 

09:00 - 10:45 MACROECONOMETRICS
Chairperson: Lucrezia Reichlin, London Business School
Discussant: Harald Uhlig, University of Chicago
Room Century Hall

  MACROECONOMICS AND VOLATILITY: DATA, MODELS, AND ESTIMATION
Jesus Fernandez-Villaverde, University of Pennsylvania and Juan Rubio-Ramirez, Duke University and Atlanta Fed

 
  ESTIMATION AND EVALUATION OF DSGE MODELS: PROGRESS AND CHALLENGES
Frank Schorfheide, University of Pennsylvania
 

11:15 - 12:45 CONTRIBUTED SESSIONS



11:15 - 12:45 MATCHING II (THY)
Chairperson: Yeon-Koo Che, Columbia University
Room Gran Melia B1

  KNOCKING OUT THE SUPPLY AND SORTING IN CENTRALIZED JOB MARKETS
Guillaume Haeringer, Universitat Autonoma de Barcelona
Co-Authors: Vincent Iehl�, Universit� Paris Dauphine and Nuria Rodriguez-Planas, Universitat Autonoma de Barcelona

 
  A THEORY OF SCHOOL CHOICE LOTTERIES
Utku Unver, Boston College
Co-Author: Onur Kesten, Carnegie Mellon University

 
  IMPLEMENTING RANDOM ASSIGNMENTS: A GENERALIZATION OF THE BIRKHOFF-VON NEUMANN THEOREM
Yeon-Koo Che, Columbia University
Co-Authors: Eric Budish, University of Chicago, Booth School of Business, Fuhito Kojima, Stanford University and Paul Milgrom, Stanford University
 

11:15 - 12:45 COMMUNICATION II (THY)
Chairperson: Elisabeth Schulte, Mannheim University
Room Gran Melia B3

  STRATEGIC PRIVATE EXPERIMENTATION
Mike Felgenhauer, Mannheim University
Co-Author: Elisabeth Schulte, Mannheim University

 
  EXPERT EXPERIMENTATION
Nicolas Klein, University of Munich
Co-Author: Tymofiy Mylovanov, Penn State University

 
  PRESELECTION AND EXPERT ADVICE
Elisabeth Schulte, Mannheim University
Co-Author: Mike Felgenhauer, Mannheim University
 

11:15 - 12:45 MECHANISM DESIGN I (THY)
Chairperson: Heski Bar-Isaac, Stern School of Business, NYU
Room Gran Melia B4

  IMPERFECT PRIVATE INFORMATION AND THE DESIGN OF INFORMATION�GENERATING MECHANISMS
Frank Rosar, University of Bonn
Co-Author: Elisabeth Schulte, Mannheim University

 
  A SIMPLE STATUS QUO THAT ASSURES PARTICIPATION (WITH APPLICATION TO EFFICIENT BARGAINING)
Ilya Segal, Stanford University
Co-Author: Michael Whinston, Northwestern University

 
  INFORMATION AND HUMAN CAPITAL MANAGEMENT
Heski Bar-Isaac, Stern School of Business, NYU
Co-Authors: Ian Jewitt, Nuffiled College, University of Oxford and Clare Leaver, University of Oxford
 

11:15 - 12:45 AUCTIONS II (THY)
Chairperson: Georgios Katsenos, Leibniz University of Hannover
Room Gran Melia F1

  WEAK CARTELS AND OPTIMAL AUCTIONS
Jinwoo Kim, School of Economics, Yonsei University
Co-Authors: Yeon-Koo Che, Columbia University and Danele Condorelli, Northwestern University

 
  CORE-SELECTING AUCTIONS WITH INCOMPLETE INFORMATION
Lawrence Ausubel, University of Maryland
Co-Author: Oleg Baranov, University of Maryland

 
  OPTIMAL RESERVE PRICES IN SEQUENTIAL AUCTIONS WITH IMPERFECT COMMITMENT
Georgios Katsenos, Leibniz University of Hannover
 

11:15 - 12:45 BARGAINING II (THY)
Chairperson: Pontus Rendhal, University of California at Davis
Room Gran Melia F2

  ONE-TO-MANY BARGAINING WITH ENDOGENOUS PROTOCOL
Duozhe Li, Chinese University of Hong Kong

 
  SEARCHING A BARGAIN: PLAY IT COOL OR HAGGLE
Selcuk Ozyurt, Sabanci University

 
  RECURSIVE BARGAINING WITH ENDOGENOUS PARTICIPATION
Pontus Rendhal, University of California at Davis
Co-Author: Ramon Marimon, European University Institute & Universitat Pompeu Fabra
 


11:15 - 12:45 EXPERIMENTS AND MARKET OUTCOMES I (EXP)
Chairperson: Jason Shachat, WISE, Xiamen University
Room Gran Melia F5

  THE EXPERIMENTAL ECONOMICS OF CREDENCE GOODS: NON-STANDARD PREFERENCES AND THE ROLE OF LIABILITY, VERIFIABILITY, REPUTATION AND COMPETITION
Uwe Dulleck, QUT
Co-Authors: Rudolf Kerschbamer, University of Innsbruck and Matthias Sutter, University of Innsbruck

 
  OUT-OF EQUILIBRIUM BIDS IN AUCTIONS - WRONG EXPECTATIONS OR WRONG BIDS
J. Philipp Reiss, Maastricht University
Co-Author: Oliver Kirchkamp, University of Jena

 
  PROCURING COMMODITIES: REQUEST FOR QUOTE OR REVERSE AUCTIONS?
Jason Shachat, WISE, Xiamen University
 


11:15 - 12:45 FINANCE AND THE FIRM I (FIN)
Chairperson: Piero Gottardi, European University Institute
Room 5A

  SHARE AUCTIONS AND THE DIVISION OF VALUE IN CORPORATE REORGANIZATIONS
Gustav Sigurdsson, University of Pennsylvania

 
  INCENTIVES TO INNOVATE AND THE DECISION TO GO PUBLIC OR PRIVATE
Andre Silva, Universidade Nova de Lisboa, Faculdade de Economia
Co-Authors: Daniel Ferreira, Department of Finance, London School of Economics and Gustavo Manso, MIT Sloan School of Management

 
  EQUILIBRIUM CORPORATE FINANCE
Piero Gottardi, European University Institute
Co-Authors: Alberto Bisin, New York University and Guido Ruta, New York University and European University Institute
 

11:15 - 12:45 CREDIT MARKETS II (FIN)
Chairperson: Jan Schrader, University of Heidelbreg
Room 5G

  RELATIONSHIP LENDING IN A FINANCIAL TURMOIL
Enrico Sette, Bank of Italy

 
  INFORMATION SHARING AND CROSS-BORDER ENTRY IN EUROPEAN BANKING
Caterina Giannetti, GSBC Jena, University of Siena
Co-Authors: Nicola Jentzsch, DIW Berlin and Giancarlo Spagnolo, EIEF, University of Tor Vergata, SITE Stockholm

 
  RELATIONSHIP LENDING IN TIMES OF CRISES: WHAT ABOUT DEFAULT AND INTEREST RATES?
Jan Schrader, University of Heidelbreg
Co-Author: Gunhild Berg,
 

11:15 - 12:45 RETURNS (FIN)
Chairperson: Rene Garcia, EDHEC
Room Pearl Hall

  TIME-VARYING COINTEGRATION RELATIONSHIP BETWEEN DIVIDENDS AND STOCK PRICE
Cheolbeom Park, Korea University
Co-Author: Chang-Jin Kim, Korea University and University of Washington

 
  DOES BETA MOVE WITH NEWS? FIRM-SPECIFIC INFORMATION FLOWS AND LEARNING ABOUT PROFITABILITY
Andrew Patton, Duke University
Co-Author: Michela Verardo, London School of Economics

 
  A LONG-HORIZON PERSPECTIVE ON THE CROSS-SECTION OF EXPECTED RETURNS
Rene Garcia, EDHEC
Co-Author: Abraham LIOUI, Edhec Business School
 


11:15 - 12:45 MARKETS WITH SEARCH OR SWITCHING COSTS: THEORY (IND)
Chairperson: Wilfried Sand-Zantman, Toulouse School of Economics
Room Gran Melia B2

  CONDITIONING PRICES ON SEARCH BEHAVIOR
Jidong Zhou, Department of Economics, UCL, London
Co-Author: Mark Armstrong, Department of Economics, UCL, London

 
  TARGETING WITH CONSUMER SEARCH : AN ECONOMIC ANALYSIS OF KEYWORDS ADVERTISING
Alexandre de Corniere, Paris School of Economics

 
  MOBILE CALL TERMINATION REVISITED
Wilfried Sand-Zantman, Toulouse School of Economics
Co-Authors: Bruno Jullien, Toulouse School of Economics (IDEI and GREMAQ) and Patrick Rey, Toulouse School of Economics
 

11:15 - 12:45 COMPETITION AND PRICING: EMPIRICAL STUDIES II (IND)
Chairperson: Saul Lach, The Hebrew University
Room Gran Melia F3

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

 
  REFUND PREMIUM: EVIDENCE FROM THE AIRLINE INDUSTRY
Seongman Moon, Universidad Carlos III de Madrid
Co-Author: Makoto Watanabe, Universidad Carlos III de Madrid

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


11:15 - 12:45 EXPORT DYNAMICS II (INT)
Chairperson: Gonzague Vannoorenberghe, Tilburg University
Room 3C

  THE OPPORTUNITY COST OF EXPORTING
Joel Rodrigue, Vanderbilt University
Co-Author: Young-Woo Rho, Vanderbilt University

 
  MACRO-HEDGING FOR COMMODITY EXPORTERS
Damiano Sandri, International Monetary Fund
Co-Author: Olivier Jeanne, Johns Hopkins University

 
  FIRM-LEVEL VOLATILITY AND EXPORTS
Gonzague Vannoorenberghe, Tilburg University
 

11:15 - 12:45 QUANTITATIVE MODELS OF FDI (INT)
Chairperson: Jiandong Ju, Tsinghua University
Room 3D

  THE "PROXIMITY-CONCENTRATION" TRADEOFF IN A RISKY ENVIRONMENT
Veronica Rappoport, Columbia Business School
Co-Authors: Natalia Ramondo, UT Texas and Kim Ruhl, NYU Stern

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

 
  FACTOR MARKET FRICTIONS, TRADE LIBERALIZATIONS AND CAPITAL FLOWS
Jiandong Ju, Tsinghua University
Co-Author: Shang-Jin Wei, Columbia University
 


11:15 - 12:45 HEALTH II (LAB)
Chairperson: James Ziliak, University of Kentucky
Room 5D

  INDIVIDUAL INCOME AND REMAINING LIFE EXPECTANCY AT THE STATUTORY RETIREMENT AGE OF 65 IN THE NETHERLANDS
Adriaan Kalwij, Utrecht University & Tilburg University

 
  THE RELATIONSHIP BETWEEN EDUCATION AND SMOKING: EVIDENCE FROM A LIFE-CYCLE MODEL
Kevin Thom, New York University
Co-Author: Steffen Reinhold, MEA, University of Mannheim

 
  HEALTH, HUMAN CAPITAL ACCUMULATION, AND LIFE CYCLE LABOR SUPPLY
James Ziliak, University of Kentucky
Co-Author: Charles Hokayem, University of Kentucky
 

11:15 - 12:45 FAMILIES AND INEQUALITY (LAB)
Chairperson: Lidia Farr�, IAE-CSIC
Room 5E

  THE PRICE AND WELFARE DEPENDENCE OF EQUIVALENCE SCALES: EVIDENCE FROM INDONESIA
Joppe De Ree, University of Groningen
Co-Authors: Rob Alessie, Groningen University and menno pradhan,

 
  RICH DAD, SMART DAD: DECOMPOSING THE INTERGENERATIONAL TRANSMISSION OF INCOME
Lars Lefgren, Brigham Young University
Co-Authors: Matthew J. Lindquist, Department of Economics, Stockholm University and David Sims, Brigham Young University

 
  DOES INCREASING PARENTS' SCHOOLING RAISE THE SCHOOLING OF THE NEXT GENERATION? EVIDENCE BASED ON CONDITIONAL SECOND MOMENTS
Lidia Farr�, IAE-CSIC
Co-Authors: Klein Roger, Rutgers and Francis Vella, Georgetown
 

11:15 - 12:45 HUMAN CAPITAL (LAB)
Chairperson: Sebastian Buhai, Northwestern University and Aarhus University
Room 5J

  EXPLAINING PERSONALITY PAY GAPS IN THE UK
Alita Nandi, ISER, UNIVERSITY OF ESSEX
Co-Author: Cheti Nicoletti, ISER, University of Essex

 
  NONPARAMETRIC BOUNDS ON RETURNS TO EDUCATION IN SOUTH AFRICA: OVERCOMING ABILITY AND SELECTION BIAS
Martine Mariotti, Australian National University
Co-Author: Juergen Mienecke, Australian National University

 
  JOB HAZARD PAY AND WORKER RISK ATTITUDES
Sebastian Buhai, Northwestern University and Aarhus University
Co-Author: Elena Cottini, Catholic University Milan
 


11:15 - 12:45 ESTIMATION OF DSGE MODELS (MAX)
Chairperson: Efrem Castelnuovo , University of Padua
Room Century Hall

  FORTUNE OR VIRTUE: TIME-VARIANT VOLATILITIES VERSUS PARAMETER DRIFTING IN U.S. DATA
Pablo Guerron, Philadelphia Federal Reserve Bank
Co-Authors: Jesus Fernandez-Villaverde, University of Pennsylvania and Juan Rubio-Ramirez, Duke University

 
  BAYESIAN ESTIMATION OF A DSGE MODEL WITH ASSET PRICES
Martin Kliem, Deutsche Bundesbank
Co-Author: Harald Uhlig, University of Chicago

 
  MONETARY POLICY SHOCKS, CHOLESKI IDENTIFICATION, AND DNK MODELS: AN EMPIRICAL INVESTIGATION FOR THE U.S.
Efrem Castelnuovo , University of Padua
 

11:15 - 12:45 TAXATION AND MACROECONOMICS I (MAX)
Chairperson: Jonathan Heathcote, Federal Reserve Bank of Minneapolis
Room Yellow River Hall

  TAXATION OF HUMAN CAPITAL AND WAGE INEQUALITY: A CROSS-COUNTRY ANALYSIS
Serdar Ozkan, University of Pennsylvania
Co-Authors: Fatih Guvenen, University of Minnesota and Burhan Kuruscu, University of Texas at Austin

 
  LUMPY INVESTMENT AND CORPORATE TAX POLICY
Pengfei Wang, Hong Kong University of Science and Technology
Co-Author: Jianjun Miao, Boston University

 
  REDISTRIBUTIVE TAXATION IN A PARTIAL INSURANCE ECONOMY
Jonathan Heathcote, Federal Reserve Bank of Minneapolis
Co-Authors: Kjetil Storesletten, Federal Reserve Bank of Minneapolis and Giovanni Violante, New York University
 

11:15 - 12:45 MACROECONOMIC MODELS OF PRICE SETTING (MAX)
Chairperson: Carlos Marques, Banco de Portugal
Room 3E

  PRECAUTIONARY PRICE STICKINESS
Anton Nakov, Banco de Espa�a
Co-Author: James Costain, Banco de Espa�a

 
  ESTIMATING THE CROSS-SECTIONAL DISTRIBUTION OF PRICE STICKINESS FROM AGGREGATE DATA
Niels Dam, Danmarks Nationalbank
Co-Author: Carlos Carvalho, Federal Reserve Bank of New York

 
  WHY ARE SOME PRICES STICKIER THAN OTHERS? FIRM-DATA EVIDENCE ON PRICE ADJUSTMENT LAGS
Carlos Marques, Banco de Portugal
Co-Authors: Daniel Dias, UCLA, Fernando Martins, Banco de Portugal and Joao Santos Silva, University of Essex
 

11:15 - 12:45 DYNAMIC MACROECONOMIC THEORY (MAX)
Chairperson: Matthias Kredler, Universidad Carlos III Madrid
Room 3G

  RECURSIVE EQUILIBRIA IN AN AIYAGARI STYLE ECONOMY WITH PERMANENT INCOME SHOCKS
Moritz Kuhn, Bonn University

 
  ROBUST COMPARATIVE STATICS IN LARGE DYNAMIC ECONOMIES
Martin Jensen, University of Birmingham
Co-Author: Daron Acemoglu, MIT

 
  A DYNAMIC MODEL OF ALTRUISTICALLY-MOTIVATED TRANSFERS
Matthias Kredler, Universidad Carlos III Madrid
Co-Author: Barczyk Daniel, New York University
 

11:15 - 12:45 MACROECONOMICS: THE ROLE OF SECTORS (MAX)
Chairperson: Michelle Rendall, University of Zurich
Room 3H

  A MULTI-SECTORAL APPROACH TO THE U.S. GREAT DEPRESSION
Pedro Amaral, Federal Reserve Bank of Cleveland
Co-Author: James MacGee, University of Western Ontario

 
  SECTOR-SPECIFIC TECHNICAL CHANGE
John Fernald, Federal Reserve Bank of San Francisco
Co-Authors: Susanto Basu, Boston College, Jonas Fisher, Federal Reserve Bank of San Francisco and Miles Kimball, University of Michigan

 
  EXPLAINING CROSS-COUNTRY DIFFERENCES IN SERVICE SECTOR AND FEMALE EMPLOYMENT
Michelle Rendall, University of Zurich
 


11:15 - 12:45 ECONOMICS OF EDUCATION I (PUB)
Chairperson: Lydia Mechtenberg, WZB Berlin
Room 3B

  THE IMPORTANCE OF RELATIVE PERFORMANCE FEEDBACK INFORMATION: EVIDENCE FROM A NATURAL EXPERIMENT USING HIGH SCHOOL STUDENTS
Nagore Iriberri, Universitat Pompeu Fabra
Co-Author: Ghazala Azmat, Universitat Pompeu Fabra

 
  DO BETTER SCHOOLS LEAD TO MORE GROWTH? COGNITIVE SKILLS, ECONOMIC OUTCOMES, AND CAUSATION
Eric Hanushek, Stanford University

 
  MIGRATION OF THE HIGHLY SKILLED: CAN EUROPE CATCH UP WITH THE U.S.?
Lydia Mechtenberg, WZB Berlin
Co-Author: Roland Strausz, Humboldt University - Berlin
 

11:15 - 12:45 EMPIRICAL FISCAL ANALYSIS (PUB)
Chairperson: Nadja Dwenger, Max-Planck-Institut Munich
Room 3J

  STATES' RESPONSES TO SHORTFALLS AND WINDFALLS
Richard Boylan, Rice University

 
  TAX COMPETITION AMONG U.S. STATES: RACING TO THE BOTTOM OR RIDING ON A SEESAW?
Daniel Wilson, Federal Reserve Bank of San Francisco
Co-Author: Robert Chirinko, University of Illinois at Chicago

 
  CORPORATE TAXATION AND INVESTMENT: EXPLAINING INVESTMENT DYNAMICS WITH FIRM-LEVEL PANEL DATA
Nadja Dwenger, Max-Planck-Institut Munich
 


11:15 - 12:45 INTEREST GROUPS (POL)
Chairperson: Karam Kang, University of Pennsylvania
Room 3F

  CAMPAIGN CONTRIBUTIONS OF INTEREST GROUPS: CATERING TO ONE CANDIDATE OR TO ALL?
Walter Novaes, Department of Economics at PUC-Rio
Co-Author: Renato Gomes, Northwestern University

 
  ARE TWO BETTER THAN ONE? COMBINING TAXES AND QUOTAS UNDER POLITICAL LOBBYING
Israel Finkelshtain, Hebrew University of Jerusalem

 
  THE PRICE OF POWER: ESTIMATING THE RETURNS TO LOBBYING IN THE ENERGY SECTOR
Karam Kang, University of Pennsylvania
 

11:15 - 12:45 REDISTRIBUTIVE POLITICS II (POL)
Chairperson: Seung Han Yoo, Nanyang Technological University
Room 3I

  FISCAL CAPACITY, EDUCATION, AND DEVELOPMENT
Mauricio Prado, Cambridge University
Co-Author: Mark Dincecco, IMT Lucca Institute for Advanced Studies

 
  POLITICAL COMPETITION OVER DISTORTIONARY TAXATION
Matias Nunez Rodriguez, CNRS-CERGY

 
  A THEORY ON GROUP INEQUALITY: THE NATURE OF CONFLICT
Seung Han Yoo, Nanyang Technological University
 


11:15 - 12:45 BORROWING CONSTRAINTS AND DEVELOPMENT (DEV)
Chairperson: Jaime Ruiz-Tagle, Department of Economics, University of Chile
Room 3A

  MORAL HAZARD AND PEER MONITORING IN A LABORATORY MICROFINANCE EXPERIMENT
Pushkar Maitra, Monash University
Co-Authors: Timothy N. Cason, Purdue University and Lata Gangadharan, Monash University

 
  THE CREDIT CONSTRAINT AND HIGHER EDUCATION IN SOUTH AFRICA
Adrien Lorenceau, Paris School of Economics
Co-Authors: Marc Gurgand, PSE and Thomas MELONIO, Agence Fran�aise de D�veloppement

 
  BORROWING CONSTRAINTS AND CREDIT DEMAND
Jaime Ruiz-Tagle, Department of Economics, University of Chile
Co-Author: Francis Vella, Georgetown University
 


11:15 - 12:45 SEMI/NONPARAMETRIC PANEL DATA (ECO)
Chairperson: Myoung-jae Lee, Korea University
Room Yangtze Hall

  DYNAMIC BINARY OUTCOME MODELS WITH MAXIMAL HETEROGENEITY
Martin Browning, Oxford University

 
  ESTIMATING SEMIPARAMETRIC PANEL DATA MODELS BY MARGINAL INTEGRATION
Junhui Qian, School of Economics \ Shanghai Jiao Tong University
Co-Author: Le Wang, University of New Hampshire

 
  LOSE WEIGHT FOR MONEY ONLY IF OVER-WEIGHT: MARGINAL INTEGRATION FOR SEMI-LINEAR PANEL MODELS
Myoung-jae Lee, Korea University
Co-Author: Kamhon Kan, Academia Sinica
 

11:15 - 12:45 MACROECONOMETRICS II (ECO)
Chairperson: Hyungsik Moon, University of Southern California
Room 5C

  VECTOR AUTOREGRESIVE MOVING AVERAGE IDENTIFICATION FOR MACROECONOMIC MODELING: ALGORITHMS AND THEORY
Don Poskitt, Monash University

 
  THE ANALYTICS OF THE SIGN RESTRICTION APPROACH TO SHOCK IDENTIFICATION: A FRAMEWORK FOR UNDERSTANDING THE EMPIRICAL MACRO PUZZLES
Christophe Kamps, European Central Bank
Co-Author: Dario Caldara, IIES, Stockholm University

 
  INFERENCE FOR VARS IDENTIFIED WITH SIGN RESTRICTIONS
Hyungsik Moon, University of Southern California
 

11:15 - 12:45 PANEL DATA (ECO)
Chairperson: Kentaro Akashi, The Institute of Statistical Mathematics
Room 5F

  PANEL GROWTH REGRESSIONS WITH GENERAL PREDETERMINED VARIABLES: LIKELIHOOD-BASED ESTIMATION AND BAYESIAN AVERAGING
Enrique Moral-Benito, CEMFI

 
  THE TIME SERIES AND CROSS-SECTION ASYMPTOTICS OF EMPIRICAL LIKELIHOOD ESTIMATOR IN DYNAMIC PANEL DATA MODELS
Gunce Eryuruk, Assistant Professor

 
  THE LIMITED INFORMATION MAXIMUM LIKELIHOOD APPROACH TO DYNAMIC PANEL STRUCTURAL EQUATIONS
Kentaro Akashi, The Institute of Statistical Mathematics
Co-Author: Naoto Kunitomo, University of Tokyo
 

11:15 - 12:45 UNIT ROOTS (ECO)
Chairperson: Morten Nielsen, Queen's University
Room 5H

  TESTING FOR UNIT ROOTS IN THE PRESENCE OF A POSSIBLE BREAK IN TREND AND NON-STATIONARY VOLATILITY
David Harvey, University of Nottingham
Co-Authors: Giuseppe Cavaliere, University of Bologna, Stephen Leybourne, University of Nottingham and Robert Taylor, University of Nottingham

 
  UNIT ROOT TESTS WITH WAVELETS
Ramo Gencay, Simon Fraser University
Co-Author: Yanqin Fan, Vanderbilt University

 
  NEARLY EFFICIENT LIKELIHOOD RATIO TESTS OF THE UNIT ROOT HYPOTHESIS
Morten Nielsen, Queen's University
Co-Author: Michael Jansson, UC Berkeley
 

11:15 - 12:45 MEASUREMENT ERROR (ECO)
Chairperson: Asger Lunde, School of Economics and Management, Aarhus University
Room 5I

  WELL-POSEDNESS OF MEASUREMENT ERROR MODELS FOR SELF-REPORTED DATA
Yingyao Hu, Johns Hopkins University
Co-Author: Yonghong An, Johns Hopkins

 
  TWO-STEP ESTIMATION OF A SINGLE REGRESSOR ERRORS-IN-VARIABLE MODEL WITH CORRELATED MEASUREMENT ERRORS
Qing Li, University of Lausanne

 
  ESTIMATING THE PERSISTENCE AND THE AUTOCORRELATION FUNCTION OF A TIME SERIES THAT IS MEASURED WITH ERROR
Asger Lunde, School of Economics and Management, Aarhus University
Co-Author: Peter Reinhard Hansen, Stanford University, department of Economics
 

13:00 - 14:00 POLICY SESSION



13:00 - 14:00 PLENARY POLICY PANEL I
Chairperson: Sir James Mirrlees, Chinese University of Hong Kong
Room Auditorium

  MIRRLEES REVIEW: REFORMING THE TAX SYSTEM FOR THE 21ST CENTURY
Richard Blundell, University College London, Steve Bond, University of Oxford, Roger Gordon, UCSD and Guy Laroque, INSEE-CREST and University College London
 

14:15 - 16:15 CONTRIBUTED SESSIONS



14:15 - 16:15 GEOGRAPHY, CULTURE, AND GROWTH IN COMPARATIVE PERSPECTIVE (HIS)
Chairperson: William Collins, Vanderbilt University
Room Gran Melia F5

  CITY SEEDS: THE GEOGRAPHICAL ORIGINS OF EUROPEAN CITIES
Maarten Bosker, Groningen University / Utrecht University
Co-Author: Eltjo Buringh, Utrecht University

 
  RELIGION OR KNOWLEDGE DIFFUSION: A PROTESTANT ECONOMIC HISTORY OF CHINA, 1840-1920
Kai-sing Kung, Hong Kong University of Science & Technology
Co-Author: Ying Bai, Hong Kong University of Science and Technology

 
  DIALECTS, CULTURAL IDENTITY, AND ECONOMIC EXCHANGE
Stephan Heblich, Max Planck Institute of Economics
Co-Authors: Oliver Falck, Ifo Institute for Economic Research, Alfred Lameli, Research Centre Deutscher Sprachatlas and Jens Suedekum, Mercator School of Management, University of Duisburg-Essen

 
  SLUM CLEARANCE AND URBAN RENEWAL IN THE UNITED STATES, 1949 TO 1974
William Collins, Vanderbilt University
Co-Author: Katharine Shester, Vanderbilt University
 


14:15 - 16:15 COLLECTIVE AND COOPERATIVE DECISION MAKING (THY)
Chairperson: Ramon Caminal, Institut d''An�lisi Econ�mica, CSIC
Room Century Hall

  COLLECTIVE DECISION MAKING WITH TIME PREFERENCES
Matthew Jackson, Stanford University
Co-Author: Leeat Yariv, California Institute of Technology

 
  STABLE SETS IN MULTI-GOOD PILLAGE GAMES ARE SMALL
Colin Rowat, University of Birmingham
Co-Authors: Alan Beardon, University of Cambridge and Colin Rowat, University of Birmingham

 
  BARGAINING, VALUES AND IMPLEMENTATION WITH COALITIONAL EXTERNALITIES
Yuan Ju, University of York
Co-Authors: Peter Borm, Tilburg University and David Wettstein, Ben-Gurion University of the Negev

 
  THREE IS A CROWD: A NEW COOPERATIVE SOLUTION CONCEPT FOR THREE-PLAYER GAMES THAT TAKES PARALLEL, BILATERAL NEGOTIATIONS TO THE CENTER STAGE
Ramon Caminal, Institut d''An�lisi Econ�mica, CSIC
Co-Author: Roberto Burguet, Institute for Economic Analysis (CSIC)
 

14:15 - 16:15 INSURANCE (THY)
Chairperson: Hanming Fang, University of Pennsylvania
Room 3A

  ENDOGENOUS INSOLVENCY RISK IN INSURANCE MARKETS WITH ASYMMETRIC INFORMATION
Wanda Mimra, University of Cologne
Co-Author: Achim Wambach, University of Cologne

 
  OPTIMAL INSURANCE WITH ADVERSE SELECTION
Edward Schlee, Arizona State University
Co-Author: Hector Chade, Arizona State University

 
  EFFICIENT INTERTEMPORAL ALLOCATION
Eiichiro Kazumori, SUNY
Co-Author: Robert Wilson, Stanford University

 
  HOW DOES LIFE SETTLEMENT AFFECT THE PRIMARY LIFE INSURANCE MARKET?
Hanming Fang, University of Pennsylvania
Co-Author: Edward Kung, Duke University
 

14:15 - 16:15 MECHANISM DESIGN II (THY)
Chairperson: John Ledyard, Caltech
Room 3C

  MULTI-DIMENSIONAL MECHANISMS WITH ONE-DIMENSIONAL ALLOCATION SPACE
Severinov Sergei, University of Brtish Columbia
Co-Author: Raymond Deneckere, University of Wisconsin

 
  OPTIMAL SELLING MECHANISMS ON INCENTIVE GRAPHS
Itai Sher, University of Minnesota
Co-Author: Rakesh Vohra, Northwestern University

 
  ROBERTS' THEOREM WITH NEUTRALITY: A SOCIAL WELFARE ORDERING APPROACH
Debasis Mishra, Indian Statistical Institute
Co-Author: Arunava Sen, Indian Statistical Institute

 
  NEUROMETRICALLY AUGMENTED MECHANISMS OVERCOME FUNDAMENTAL IMPOSSIBILITY RESULTS IN MECHANISM DESIGN
John Ledyard, Caltech
Co-Authors: Colin Camerer, California Institute of Technology, Ian Krajbich, Caltech and Antonio Rangel,
 

14:15 - 16:15 DECISION THEORY II (THY)
Chairperson: Agatha Murgoci, Copenhagen Busines School
Room 3D

  REVEALED ATTENTION
Daisuke Nakajima, University of Michigan
Co-Authors: Yusufcan Mastlioglu, and Erkut Ozbay,

 
  MENU-DEPENDENT SELF-CONTROL
Norio Takeoka, Faculty of Economics, Yokohama National University
Co-Author: jawwad Noor, Department of Economics, Boston University

 
  TEMPTATION, ATTRACTION, AND COMPROMISE
Madhav Chandrasekher, Arizona State University

 
  A GENERAL THEORY OF MARKOVIAN TIME INCONSISTENT STOCHASTIC CONTROL PROBLEMS
Agatha Murgoci, Copenhagen Busines School
Co-Author: Tomas Bjork, Stockholm School of Economics
 

14:15 - 16:15 COMMUNICATION III (THY)
Chairperson: Andreas Blume, University of Pittsburgh
Room 3I

  COMMUNICATION, TIMING, AND COMMON LEARNING
Jakub Steiner, Northwestern University
Co-Author: colin stewart, Toronto university

 
  WAIT AND SEE: A THEORY OF COMMUNICATION OVER TIME
Peter Eso, University of Oxford
Co-Author: Fong Yuk-fai, Northwestern University

 
  IMPLEMENTATION WITH EVIDENCE: COMPLETE INFORMATION
Navin Kartik, Columbia University
Co-Author: Olivier Tercieux, Paris School of Economics

 
  LANGUAGE BARRIERS
Andreas Blume, University of Pittsburgh
 


14:15 - 16:15 INDIVIDUAL CHOICE BEHAVIOR: MODELS AND EXPERIMENTS (EXP)
Chairperson: Xiaojian Zhao, Hong Kong University of Science and Technology - University of Mannheim
Room 3B

  TEMPTATION AND COMMITMENT IN THE LABORATORY
Joachim Winter, University of Munich
Co-Authors: Daniel Houser, George Mason University, Daniel Schunk, Department of Economics, University of Zurich and Erte Xiao, Carnegie Mellon University

 
  A FLEXIBLE TEST FOR PRESENT BIAS AND TIME PREFERENCES USING GROUND LEASE CONTRACTS
Aico van Vuuren, VU University Amsterdam
Co-Author: Pieter Gautier, VU University Amsterdam

 
  GETTING IT RIGHT THE FIRST TIME: BELIEF ELICITATION WITH NOVICE PARTICIPANTS
Daniel Houser, George Mason University
Co-Author: Li Hao, Economics, George Mason University

 
  SELF-ESTEEM, SHAME AND PERSONAL MOTIVATION
Xiaojian Zhao, Hong Kong University of Science and Technology - University of Mannheim
Co-Author: Roberta Dessi, Toulouse School of Economics (GREMAQ and IDEI) and CEPR
 


14:15 - 16:15 CONTRACT THEORY II (FIN)
Chairperson: Lei Lu, Shanghai University of Finance and Economics
Room 5A

  SOCIAL VALUE OF INFORMATION IN A LEVERED ECONOMY
VITO GALA, LONDON BUSINESS SCHOOL
Co-Author: Paolo Volpin, London Business School

 
  OPTIMAL RESOLUTION OF FINANCIAL DISTRESS: A DYNAMIC CONTRACTING APPROACH
Thi Quynh Anh Vo, Central Bank of Norway

 
  LEARNING IN DYNAMIC INCENTIVE CONTRACTS
Yuliy Sannikov, Princeton University
Co-Author: Peter DeMarzo, Stanford University

 
  ENFORCEMENT AND THE EFFECTIVENESS OF LAWS AND REGULATIONS
Lei Lu, Shanghai University of Finance and Economics
Co-Authors: Ke Li, Shanghai University of Finance and Economics and Jun Qian, Boston College
 

14:15 - 16:15 FINANCE AND THE FIRM II (FIN)
Chairperson: Morten Bennedsen, INSEAD
Room 5B

  THE IMPACT OF FOREIGN GOVERNMENT INVESTMENTS: SOVEREIGN WEALTH FUND INVESTMENTS IN THE U.S.
Elvira Sojli, RSM, Erasmus University
Co-Author: Wing Wah Tham, ESE, Erasmus University

 
  INTEREST RATES IN TRADE CREDIT MARKETS
Humberto Moreira, Funda��o Getulio Vargas
Co-Authors: Klenio Barbosa, Toulouse School of Economics and Walter Novaes, Department of Economics at PUC-Rio

 
  WHY ARE FAMILY FIRMS SO SMALL?
Laurent Bach, Paris School of Economics

 
  POLITICAL REFORMS AND THE CAUSAL IMPACT OF BLOOD- RELATED POLITICIANS ON CORPORATE PERFORMANCE IN THE WORLD�S LEAST CORRUPT SOCIETY
Morten Bennedsen, INSEAD
Co-Author: Mario D Amore, INSEAD
 

14:15 - 16:15 ASSET PRICING III (FIN)
Chairperson: Hengjie Ai, Fuqua School of Business, Duke
Room 5C

  CROSS-SECTIONAL ASSET PRICING PUZZLES: AN EQUILIBRIUM PERSPECTIVE
Scott Cederburg, Univ of Iowa
Co-Authors: Doron Avramov, Univ of Maryland and Satadru Hore, Federal Reserve Bank of Boston

 
  OPTIMAL PORTFOLIO ALLOCATIONS WITH HEDGE FUNDS
Jerome Detemple, Boston University
Co-Authors: Rene Garcia, EDHEC and Marcel Rindisbacher, Boston University

 
  A STOCHASTIC DISCOUNT FACTOR APPROACH TO ASSET PRICING USING PANEL DATA ASYMPTOTICS
Joao Issler, Graduate School of Economics -- EPGE, Getulio Vargas Foundation
Co-Author: Fabio Araujo, Princeton University

 
  TOWARD A QUANTITATIVE GENERAL EQUILIBRIUM ASSET PRICING MODEL WITH INTANGIBLE CAPITAL
Hengjie Ai, Fuqua School of Business, Duke
Co-Author: Mariano Croce, UNC, Chapel Hill
 


14:15 - 16:15 AUCTIONS: EMPIRICAL MODELS (IND)
Chairperson: Francesco Decarolis, University of Wisconsin Madison
Room 3E

  SEMIPARAMETRIC ESTIMATION IN MODELS OF FIRST-PRICE, SEALED-BID AUCTIONS WITH AFFILIATION
Timothy Hubbard, Texas Tech University
Co-Authors: Tong Li, Vanderbilt University and Harry Paarsch, The University of Melbourne

 
  NONPARAMETRIC METHODS FOR ASCENDING AUCTIONS WITH UNOBSERVED HETEROGENEITY
Daniel Quint, University of Wisconsin
Co-Authors: Andres Aradillas-Lopez, University of Wisconsin, Madison and Amit Gandhi, University of Wisconsin

 
  AFFILIATION AND ENTRY IN FIRST-PRICE AUCTIONS WITH HETEROGENEOUS BIDDERS
Bingyu Zhang, National University of Singapore
Co-Author: Tong Li, Vanderbilt University

 
  WHEN THE HIGHEST BIDDER LOSES THE AUCTION: THEORY AND EVIDENCE FROM PUBLIC PROCUREMENT
Francesco Decarolis, University of Wisconsin Madison
 

14:15 - 16:15 PRINCIPLE-AGENT RELATIONSHIPS: THEORY (IND)
Chairperson: Fr�d�ric Loss, Conservatoire National des Arts et M�tiers
Room 3J

  WHO DECIDES ABOUT CHANGE AND RESTRUCTING IN ORGANIZATIONS?
Andrew Wait, University of Sydney
Co-Author: Kieron Meagher, Australian National University

 
  FREE-RIDING IN PROCUREMENT DESIGN
Klenio Barbosa, Toulouse School of Economics

 
  TRADE OF BAD REPUTATION AND COST OF CORPORATE CONTROL
Fong Yuk-fai, Northwestern University
Co-Authors: Pak Hung Au, Northwestern University and Jin Li,

 
  PROJECT CHOICES BY WAGE-EARNERS WILLING TO BECOME ENTREPRENEURS
Fr�d�ric Loss, Conservatoire National des Arts et M�tiers
Co-Author: Antoine Renucci, UPPA
 


14:15 - 16:15 ECONOMIC GEOGRAPHY (INT)
Chairperson: Daniel Sturm, London School of Economics
Room Gran Melia B1

  A SPATIAL NETWORK APPROACH TO URBAN CONFIGURATIONS
Fan-chin Kung, City University of Hong Kong
Co-Author: Ping Wang, Washington University in St. Louis

 
  ENTREPRENEURIAL LAND DEVELOPERS: LOCAL EXTERNALITIES AND MIXED HOUSING DEVELOPMENTS
Hideo Konishi, Boston College

 
  THE GEOGRAPHY OF CONSUMER PRICES
Attila Ratfai, Central European University
Co-Author: Adam Reiff, National Bank of Hungary

 
  THE ECONOMICS OF DENSITY: EVIDENCE FROM THE BERLIN WALL
Daniel Sturm, London School of Economics
Co-Authors: Gabriel Ahlfeldt, London School of Economics, Stephen Redding, Princeton University and Nikolaus Wolf, Warwick University
 

14:15 - 16:15 INTERNATIONAL MACROECONOMICS II (INT)
Chairperson: Mingyi Kang, Department of Economics, University of Minnesota
Room Gran Melia F2

  FINANCIAL FRICTIONS, FINANCIAL INTEGRATION AND THE INTERNATIONAL PROPAGATION OF SHOCKS
Giovanni Lombardo, European Central bank
Co-Author: Luca Dedola, European Central Bank

 
  FRICTIONS, HETEROGENEOUS PREFERENCES AND INTERNATIONAL CONSUMPTION RISK SHARING
Meixin Guo, University of California, Davis

 
  COINTEGRATED TFP PROCESSES AND INTERNATIONAL BUSINESS CYCLES
Pau Rabanal, International Monetary Fund
Co-Authors: Juan Rubio-Ramirez, Duke University and Atlanta Fed and Vicente Tuesta, CENTRUM Catolica

 
  LEADING AND LAGGING RELATIONSHIPS IN INTERNATIONAL BUSINESS CYCLES
Mingyi Kang, Department of Economics, University of Minnesota
 


14:15 - 16:15 EARLY CHILDHOOD INTERVENTIONS (LAB)
Chairperson: Gabriella Conti, University of Chicago
Room Yellow River Hall

  UNDERSTANDING THE MECHANISMS THROUGH WHICH AN INFLUENTIAL EARLY CHILDHOOD PROGRAM BOOSTED ADULT OUTCOMES
Peter Savelyev, The University of Chicago, Department of Economics
Co-Authors: James Heckman, University of Chicago, Lena Malofeeva, University of Arizona and Pinto Rodrigo, University of Chicago

 
  THE IMPACT OF IODINE DEFICIENCY ERADICATION ON SCHOOLING: EVIDENCE FROM THE INTRODUCTION OF IODIZED SALT IN SWITZERLAND
Dimitra Politi, University of Edinburgh

 
  A STRUCTURAL MODEL OF CHILD CARE CHOICES, MATERNAL TIME AND CHILD�S COGNITIVE DEVELOPMENT FOR SINGLE MOTHERS IN THE U.S.
Raquel Bernal, Universidad de los Andes
Co-Author: Michael Keane, University of Technology Sydney

 
  EARLY ENDOWMENTS, EDUCATION AND HEALTH
Gabriella Conti, University of Chicago
Co-Authors: James Heckman, University of Chicago and Sergio Urzua, Northwestern University
 

14:15 - 16:15 HEALTH III (LAB)
Chairperson: Enrica Croda, Ca' Foscari University of Venice
Room 3H

  THE EFFECT OF JOB LOSS DUE TO PLANT CLOSURE ON MORTALITY AND HOSPITALIZATION
Eskil Heinesen, Danish Institute of Governmental Research
Co-Author: Martin Browning, Oxford University

 
  THE EFFECT OF PRIVATE HEALTH INSURANCE ON MEDICAL CARE UTILIZATION AND SELF-ASSESSED HEALTH IN GERMANY
Patrick Hullegie, Tilburg University
Co-Author: Tobias Klein, Tilburg University

 
  THE IMPACT OF COMPETITION ON MANAGEMENT PRACTICES IN PUBLIC HOSPITALS
Seiler Stephan, London School of Economics
Co-Authors: Nicholas Bloom, Stanford University, Carol Propper, Imperial College, CMPO University of Bristol, CEPR and John Van Reenen, London School of Economics

 
  DISABILITY INSURANCE AND HEALTH IN EUROPE AND THE US
Enrica Croda, Ca' Foscari University of Venice
Co-Author: JONATHAN SKINNER, DARTMOUTH COLLEGE - DEPARTMENT OF ECONOMICS
 

14:15 - 16:15 RETIREMENT (LAB)
Chairperson: Maria Casanova, UCLA
Room Pearl Hall

  CAREGIVING TO ELDERLY PARENTS AND EMPLOYMENT STATUS OF EUROPEAN MATURE WOMEN
Laura Crespo, CEMFI
Co-Author: Pedro Mira, CEMFI

 
  CHANGES IN CONSUMPTION AT RETIREMENT: EVIDENCE FROM PANEL DATA
Emma Aguila, RAND
Co-Authors: Orazio Attanasio, UCL and Costas Meghir, UCL

 
  RETIREMENT RESPONSES TO A GENEROUS PENSION REFORM: EVIDENCE FROM A NATURAL EXPERIMENT IN EASTERN EUROPE
Alexander Danzer, Royal Holloway, University of London, UK

 
  THE WAGE PROCESS OF OLDER WORKERS
Maria Casanova, UCLA
 


14:15 - 16:15 GROWTH EMPIRICS (MAX)
Chairperson: Fabrice Murtin, OECD
Room Gran Melia B2

  ON THE CONDITIONAL EFFECT OF IMF PROGRAM PARTICIPATION ON ECONOMIC GROWTH
Michael Binder, Goethe University Frankfurt, Chair for International Macroeconomics & Macroeconometrics

 
  AN ECONOMETRIC APPROACH TO THE CONSTRUCTION OF COMPLETE PANELS OF PURCHASING POWER PARITIES: ANALYTICAL PROPERTIES AND EMPIRICAL RESULTS
Alicia Rambaldi, The University of Queensland
Co-Authors: Howard Doran, The University of Queensland and D. S. Prasada Rao, The University of Queensland

 
  A CONTRIBUTION TO THE SCHUMPETERIAN GROWTH THEORY AND EMPIRICS
Cem Ertur, LEO - Universit� d'Orl�ans
Co-Author: Wilfried Koch, LEG - Universit� de Bourgogne

 
  THE RELATIONSHIP BETWEEN HEALTH AND GROWTH
Fabrice Murtin, OECD
Co-Authors: Philippe Aghion, Harvard University and Peter Howitt, Brown University
 

14:15 - 16:15 DYNAMIC TAXATION (MAX)
Chairperson: Yang Lu, European University Institute
Room Gran Melia B4

  A CHARACTERIZATION OF OPTIMAL CONTRACTS WITH ONE-SIDED COMMITMENT
Yuzhe Zhang, Economics Department, University of Iowa

 
  OPTIMAL TAXATION AND CONSTRAINED INEFFICIENCY IN AN INFINITE-HORIZON ECONOMY WITH INCOMPLETE MARKETS
Tomoyuki Nakajima, Kyoto University
Co-Authors: Piero Gottardi, European University Institute and Atsushi Kajii, Kyoto University

 
  OPTIMAL DYNAMIC TAXES
Maxim Troshkin, University of Minnesota
Co-Authors: Mike Golosov, and Aleh Tsyvinski,

 
  CREDIBILITY CONCERNS IN OPTIMAL POLICY DESIGN
Yang Lu, European University Institute
 

14:15 - 16:15 MONETARY POLICY II (MAX)
Chairperson: Nathan Porter, International Monetary Fund
Room Gran Melia F1

  HOW BETTER MONETARY STATISTICS COULD HAVE SIGNALED THE FINANCIAL CRISIS
William Barnett, University of Kansas
Co-Author: Marcelle Chauvet, University of California at Riverside

 
  CREDIT CONTROLS DID MATTER. AN EVALUATION OF MONETARY POLICY DURING FRANCE�S GOLDEN AGE, 1945-1973.
Eric Monnet, Paris School of Economics

 
  DOES THE ACCUMULATION OF INTERNATIONAL RESERVES SPUR INFLATION? A PANEL DATA ANALYSIS
Andreas Steiner, University of Osnabrueck

 
  WHAT DRIVES CHINA�S INTERBANK MARKET?
Nathan Porter, International Monetary Fund
Co-Author: TengTeng Xu, Cambridge University
 


14:15 - 16:15 OPTIMAL TAX AND TRANSFER POLICY (PUB)
Chairperson: Jean-Baptiste Michau, Centre for Economic Performance, London School of Economics
Room 3G

  OPTIMAL POLICIES AND THE INFORMAL SECTOR
Joanne Roberts, University of Calgary
Co-Authors: Katherine Cuff, McMaster University, Nicolas Marceau, Universite de Quebec a Montreal and Steeve Mongrain, Simon Fraser University

 
  ON OPTIMAL CORPORATE INCOME TAX
C. C. Yang, Academia Sinica
Co-Author: Kevin Hsu, National Chengchi University

 
  COMPETITIVE NONLINEAR TAXATION, INCOME INEQUALITY, AND CONSTITUTIONAL CHOICE
Huanxing Yang, Ohio State University
Co-Authors: Massimo Morelli, Columbia University and EUI and Lixin Ye, The Ohio State University

 
  DYNAMIC OPTIMAL REDISTRIBUTIVE TAXATION WITH ENDOGENOUS RETIREMENT
Jean-Baptiste Michau, Centre for Economic Performance, London School of Economics
 


14:15 - 16:15 CLIMATE, HEALTH AND DEVELOPMENT (DEV)
Chairperson: James Vickery, Federal Reserve Bank of New York
Room Gran Melia B3

  THE LONG-LIVED EFFECTS OF HISTORIC CLIMATE UPON THE WEALTH OF NATIONS
Michael Vlassopoulos, University of Southampton
Co-Authors: John Bluedorn, University of Southampton and Akos Valentinyi, Magyar Nemzeti Bank

 
  WHERE THERE IS A WILL: FERTILITY BEHAVIOR AND SEX BIAS IN LARGE FAMILIES
Tarun Jain, Indian School of Business

 
  DO TROPICAL TYPHOONS SMASH THE COMMUNITY TIES? THEORY AND EVIDENCE FROM VIETNAM
Yanos Zylberberg, Paris School of Economics

 
  FORECASTING WHEN IT MATTERS: EVIDENCE FROM SEMI-ARID INDIA
James Vickery, Federal Reserve Bank of New York
Co-Authors: Xavier Gine, World Bank and Robert Townsend, MIT
 

14:15 - 16:15 GROWTH AND DEVELOPMENT II (DEV)
Chairperson: Roman Zakharenko, State University Higher School of Economics
Room Gran Melia F3

  CREDIT MARKET IMPERFECTIONS, SELECTION, AND THE DISTRIBUTION OF WITHIN-INDUSTRY PRODUCTIVITY
Christian Bauer, LMU University of Munich

 
  ADVERSE SELECTION IN ASSET MARKETS: THEORY AND EVIDENCE FROM THE INDIAN MARKET FOR COWS
Santosh Anagol, Wharton

 
  FACTOR MISALLOCATION IN DUAL ECONOMIES
Thomas Schelkle, London School of Economics

 
  CHILDREN VERSUS IDEAS: AN "INFLUENTIAL" THEORY OF DEMOGRAPHIC TRANSITION
Roman Zakharenko, State University Higher School of Economics
 


14:15 - 16:15 FORECASTING (ECO)
Chairperson: Helmut Luetkepohl, European University Institute
Room Yangtze Hall

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

 
  MEASURING AGGREGATE UNCERTAINTY IN A PANEL OF FORECASTS AND A NEW TEST FOR FORECAST HETEROGENEITY
Kajal Lahiri, University at Albany, SUNY-Albany
Co-Authors: Huaming Peng, SUNY-Albany and Xuguang Sheng, SUNY Fredonia

 
  FORECAST EVALUATION OF SMALL NESTED MODEL SETS
Kirstin Hubrich, European Central Bank, Research Department
Co-Author: Kenneth D. West, University of Wisconsin

 
  FORECASTING NONLINEAR AGGREGATES AND AGGREGATES WITH TIME-VARYING WEIGHTS
Helmut Luetkepohl, European University Institute
 

14:15 - 16:15 PANEL DATA AND CROSS-SECTIONAL DEPENDENCE (ECO)
Chairperson: Vasilis Sarafidis, University of Sydney
Room 5D

  A NONPARAMETRIC POOLABILITY TEST FOR PANEL DATA MODELS WITH CROSS SECTION DEPENDENCE
Sainan Jin, Singapore Management University
Co-Author: Liangjun Su, Singapore Management University

 
  INSTRUMENTAL VARIABLE ESTIMATION OF DYNAMIC LINEAR PANEL DATA MODELS WITH DEFACTORED REGRESSORS UNDER CROSS-SECTIONAL DEPENDENCE
Takashi Yamagata, University of York
Co-Author: Vasilis Sarafidis, University of Sydney

 
  A NONLINEAR PANEL MODEL OF HERDING
Yongcheol Shin, Business School, University of Leeds
Co-Authors: george kapetanios, queen mary, university of london and james mitchell, niesr

 
  IV ESTIMATION OF PANELS WITH FACTOR RESIDUALS
Vasilis Sarafidis, University of Sydney
Co-Authors: Donald Robertson, The University of Cambridge and James Symons, UCL (emeritus)
 

14:15 - 16:15 BAYESIAN METHODS (ECO)
Chairperson: Herman van Dijk, Tinbergen Institute, Erasmus University Rotterdam
Room 5E

  BAYESIAN LINK PREDICTION IN NETWORK STRUCTURES
Martin Burda, University of Toronto
Co-Authors: Siddhartha Chib, Washington University in St. Louis and Matthew Harding, Stanford University

 
  REGULARIZING PRIORS FOR LINEAR INVERSE PROBLEMS
Anna Simoni, Universit� Bocconi
Co-Author: Jean-Pierre Florens, Toulouse School of Economics

 
  APPROXIMATION OF CONDITIONAL DENSITIES BY SMOOTH MIXTURES OF REGRESSIONS
Andriy Norets, Princeton University

 
  ADAPTIVE EXPECTATION MAXIMIZATION SAMPLING METHODS FOR EFFICIENT AND RELIABLE POSTERIOR AND PREDICTIVE SIMULATION
Herman van Dijk, Tinbergen Institute, Erasmus University Rotterdam
Co-Authors: Lennart Hoogerheide, Econometric and TInbergen Institute, Erasmus University Rotterdam and Anne Opschoor, Tinbergen Institute, Erasmus University Rotterdam
 

14:15 - 16:15 STRUCTURAL DISCRETE CHOICE MODELS (ECO)
Chairperson: Juan Pantano, Washington University in St. Louis
Room 5F

  INTERACTIVE FIXED EFFECTS IN THE BLP RANDOM COEFFICIENTS DEMAND MODEL
Martin Weidner, University of Southern California
Co-Authors: Hyungsik Roger Moon, and Matthew Shum,

 
  UNDERSTANDING CHOICE INTENSITY: A POISSON MIXTURE MODEL WITH LOGIT-BASED RANDOM UTILITY SELECTIVE MIXING
Matthew Harding, Stanford University
Co-Authors: Martin Burda, University of Toronto and Jerry Hausman, MIT

 
  LARGE MARKET ASYMPTOTICS FOR DIFFERENTIATED PRODUCT DEMAND ESTIMATORS UNDER ECONOMIC MODELS OF SUPPLY
Timothy Armstrong, Stanford University

 
  USING SUBJECTIVE EXPECTATIONS DATA TO ALLOW FOR UNOBSERVED HETEROGENEITY IN HOTZ-MILLER ESTIMATION STRATEGIES
Juan Pantano, Washington University in St. Louis
Co-Author: Yu Zheng, Washington University in St. Louis
 

14:15 - 16:15 ECONOMETRIC METHODOLOGY II (ECO)
Chairperson: Jack Porter, University of Wisconsin
Room 5G

  REGRESSION TOWARDS THE MODE
Gordon Kemp, University of Essex
Co-Author: Joao Santos Silva, University of Essex

 
  REGRESSION VERSUS VARIANCE TESTS FOR SOCIAL INTERACTIONS
Hisatoshi Tanaka, School of Political Science and Economics, Waseda Univ

 
  EMPIRICAL SIMULTANEOUS CONFIDENCE REGIONS FOR PATH-FORECASTS
Malte Kn�ppel, Deutsche Bundesbank
Co-Authors: Oscar Jorda, UC Davis and Massimiliano Marcellino, European University Institute

 
  IMPOSSIBILITY RESULTS FOR NONDIFFERENTIABLE FUNCTIONALS
Jack Porter, University of Wisconsin
Co-Author: Keisuke Hirano, University of Arizona
 

14:15 - 16:15 SEMI/NONPARAMETRICS (ECO)
Chairperson: Michael Jansson, UC Berkeley
Room 5H

  TRIANGULAR SEMIPARAMETRIC MODELS FEATURING TWO DEPENDENT ENDOGENOUS BINARY OUTCOMES
Chan Shen, Georgetown University
Co-Authors: Roger Klein, Rutgers University and Francis Vella, Georgetown University

 
  A DISCONTINUITY TEST OF ENDOGENEITY
Maria Carolina Caetano, University of California, Berkeley

 
  RANK ESTIMATION WITH CONTROL VARIABLES
Koen Jochmans, CORE

 
  GENERALIZED JACKKNIFE ESTIMATORS OF WEIGHTED AVERAGE DERIVATIVES
Michael Jansson, UC Berkeley
Co-Authors: Matias Cattaneo, University of Michigan and Richard Crump, Federal Reserve Bank of New York
 

14:15 - 16:15 VOLATILITY (ECO)
Chairperson: Werner Ploberger, Washington University in St. Louis
Room 5I

  REALIZED GARCH: A COMPLETE MODEL OF RETURNS AND REALIZED MEASURES OF VOLATILITY
Peter Reinhard Hansen, Stanford University, department of Economics
Co-Authors: Zhuo Huang, Stanford University and Howard Howan Shek, Stanford University

 
  GOOD VOLATILITY, BAD VOLATILITY:SIGNED JUMPS AND THE PERSISTENCE OF VOLATILITY
Kevin Sheppard, University of Oxford
Co-Author: Andrew Patton, Duke University

 
  STOCHASTIC COVARIANCE MODELS
Manabu Asai, Soka University
Co-Author: Mike So, The Hong Kong University of Science and Technology

 
  AN IMPROVED ESTIMATOR FOR THE INTEGRATED VOLATILITY
Werner Ploberger, Washington University in St. Louis
Co-Author: Taesuk Lee, University of Rochester
 

14:15 - 16:15 FRACTIONAL INTEGRATION (ECO)
Chairperson: Richard Baillie, Michigan State University
Room 5J

  THE GENERALIZED COCHRANE-ORCUTT TRANSFORMATION ESTIMATION FOR SPURIOUS AND FRACTIONAL SPURIOUS REGRESSIONS
Shin-Huei Wang, CORE, Universite Catholique de Louvain and CeRefim, FUNDP, Academie Louvain
Co-Author: Cheng Hsiao, University of Southern California

 
  MAXIMUM LIKELIHOOD ESTIMATION OF FRACTIONALLY COINTEGRATED SYSTEMS
Katarzyna Lasak, CREATES, Aarhus University

 
  TESTING THE ORDER OF FRACTIONAL INTEGRATION IN PANEL DATA MODELS
Fredrik Andersson, Lund University

 
  CONFIDENCE INTERVALS FOR IMPULSE RESPONSE WEIGHTS FROM STRONGLY DEPENDENT PROCESSES
Richard Baillie, Michigan State University
Co-Author: George Kapetanios, Queen Mary University of London
 

16:45 - 18:15 PLENARY SESSION



16:45 - 18:15 FRISCH MEMORIAL LECTURE
Chairperson: Sir James Mirrlees, Chinese University of Hong Kong
Room Grand Ballroom

  TRADE AND LABOR MARKET OUTCOMES
Elhanan Helpman, Harvard University
Co-Authors: Oleg Itskhoki, Princeton University and Stephen Redding, Princeton University
 

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