PROGRAM

 

 

Room Allocation:
A: Hungarian Academy of Sciences
B: Aranytiz Cultural Center
U: Central European University
I: Hotel Intercontinental

 

SUNDAY 26 AUGUST 2007


10:00 - 20:00

REGISTRATION  - Hungarian Academy of Sciences (HAS)


 

MONDAY 27 AUGUST 2007


10:00 - 15:00

REGISTRATION  - Hungarian Academy of Sciences (HAS)


 


15:00 - 17:00

SPECIAL LECTURE


 


15:00 - 17:00

SPECIAL LECTURE (EEA)
Chairperson: Guido Tabellini, IGIER, Bocconi University - President EEA

Room A-6


 

PRODUCTIVITY IN THE EURO AREA AND MONETARY POLICY
Jean-Claude Trichet, President, European Central Bank

 


15:00 - 17:00

CONTRIBUTED SESSIONS 1
EEA


 


15:00 - 17:00

IO: EMPIRICAL AND APPLIED (EEA)
Chairperson: Thibaud Vergé, CREST-LEI

Room U-1


 

THE IMPACT OF INTERNET ON THE MARKET FOR DAILY NEWSPAPERS IN ITALY
Lapo Filistrucchi, Tilburg University and University of Siena

 

 

WHY NOT SELL LOTTERY TICKETS IN A PHARMACY: ON CONFLICTING PRODUCT FEATURES AND CONSUMER CHOICE
Daniel Mueller, Bonn Graduate School of Economics (BGSE)
Co-Author: Philipp C. Wichardt, Economic Theory 3, University of Bonn

 

 

DOES MEMBERSHIP ON THE UN SECURITY COUNCIL INFLUENCE IMF DECISIONS? EVIDENCE FROM PANEL DATA
Jan-Egbert Sturm, KOF, ETH Zurich

Co-Authors: Axel Dreher, ETH Zurich
and James Raymond Vreeland, Yale University

 

 

THE EFFECTS OF BANNING BELOW-INVOICE PRICES: AN EMPIRICAL INVESTIGATION
Thibaud Vergé, CREST-LEI
Co-Authors: Pierre Biscourp, ENSAE, CREST and Xavier Boutin, INSEE

 



 

15:00 - 17:00

IO: MARKETING (EEA)
Chairperson: Irene Martínez-Pardina, University of Murcia

Room U-2


 

ON THE SIGNALING AND FEEDBACK EFFECTS OF UMBRELLA BRANDING
Jeanine Thal, European University Institute

 

 

NELSON’S CONJECTURE: SOME EFFECTS OF CONSUMER PROTECTION ON DECEPTION, CONSUMER SEARCH AND COMPETITION
Chris Wilson, University of Oxford

 

 

COMPETITION VERSUS INFORMATION UNDER THE WORD-OF-MOUTH EFFECT
Irene Martínez-Pardina, University of Murcia
Co-Authors: Francisco Alcala, University of Murcia and Miguel Gonzalez-Maestre, Universidad de Murcia

 

 

BRANDING NEWS WITH POLITICAL OPINION
Frode Steen
Co-Author: Gorm Grønnevet, NHH

 


15:00 - 17:00

GROWTH I (EEA)
Chairperson: Antonio Navas-Ruiz, GREQAM Université d''Aix-Marseille

Room U-9


 

TOWARDS A THEORY OF TOTAL FACTOR PRODUCTIVITY  (GROWTH): MONETARY POLICY, SHORT-RUN FLUCTUATIONS AND LONG-RUN CONSEQUENCES
Marc Schiffbauer, University of Bonn
Co-Authors: Michael Evers, Bonn Graduate School of Economics and Stefan Niemann, Bonn Graduate School of Economics

 

 

NEW COMBINATIONS AND GROWTH
Jürgen Antony, University of Augsburg

 

 

RICH, POOR AND GROWTH-MIRACLE NATIONS: MULTIPLE EQUILIBRIA REVISITED
Lilia Maliar, Universidad de Alicante
Co-Authors: Kylymnyuk Dmytro, University of Toulouse and Serguei Maliar, University of Alicante

 

 

TRADE OPENNESS, INSTITUTIONAL CHANGE AND ECONOMIC GROWTH
Antonio Navas-Ruiz, GREQAM Université d''Aix-Marseille

 


15:00 - 17:00

HEALTH I (EEA)
Chairperson: Matthias Dahm, Universitat Rovira i Virgili

Room U-3


 

LOWERING BLOOD ALCOHOL CONTENT LEVELS TO SAVE LIVES: THE EUROPEAN EXPERIENCE.
Daniel Albalate, University of Barcelona

 

 

LABOR MARKET INTERRUPTIONS AND HEALTH: EVIDENCE FROM A NATURAL EXPERIMENT
Andreas Kuhn, University of Zurich
Co-Authors: Rafael Lalive, University of Lausanne and Josef Zweimüller, University of Zurich

 

 

PRICE VARIATION IN MARKETS WITH HOMOGENEOUS GOODS: THE CASE OF MEDIGAP
Mathis Schroeder, Mannheim University
Co-Authors: Dana Goldman, RAND Corporation and Nicole Maestas, RAND corporation

 

 

CLINICAL TRIALS: THE EFFECTS OF REGISTRIES AND RESULTS DATABASES
Matthias Dahm, Universitat Rovira i Virgili
Co-Authors:

Paula Gonzalez, Universidad Pablo De Olavide, Sevilla and Nicolás Porteiro, Universidad Pablo de Olavide, Sevilla.

 


15:00 - 17:00

MIGRATION I (EEA)
Chairperson: Radu Vranceanu, ESSEC Business School

Room U-6


 

RETURN MIGRATION AND THE "HEALTHY IMMIGRANT EFFECT"
Monika Sander, University of Bamberg

 

 

DO EDUCATIONAL DIFFERENCES AND THEIR IMPACT ON EARNINGS HAMPER IMMIGRANTS?
Lubomira Anastassova, CERGE-EI

 

 

SKILL DIFFUSION BY TEMPORARY MIGRATION? RETURNS TO WESTERN EUROPEAN WORKING EXPERIENCE IN THE EU ACCESSION COUNTRIES
Anna Iara, The Vienna Institute for International Economic Studies (wiiw)

 

 

INTERNATIONAL REMITTANCES AND RESIDENTS' LABOUR SUPPLY IN A SIGNALING MODEL
Radu Vranceanu, ESSEC Business School
Co-Author: Claire Naiditch, ESSEC Business School and University Paris 1

 


15:00 - 17:00

AGENCY, FAIRNESS AND CONTRACTS (EEA)
Chairperson: Björn Bartling, University of Munich

Room U-8


 

DYNAMIC REGULATION OF PUBLIC GOOD QUALITY
Stephane Auray, Univ. Lille 3, GREMARS and CIRPEE
Co-Authors: Thomas Mariotti, GREMAQ -Toulouse and Fabien Moizeau, Univ. Toulouse and GREMAQ

 

 

EFFICIENT CONTRACT DESIGN IN MULTI-PRINCIPAL MULTI-AGENT SUPPLY CHAINS
Thomas Weber, Stanford University
Co-Author: Hongxia Xiong, Stanford University

 

 

RELATIONAL CONTRACTS AND INEQUITY AVERSION
Jenny Kragl, Humboldt-Unviversität zu Berlin
Co-Author: Julia Schmid, Technische Universität Berlin

 

 

RELATIVE VS. TEAM PERFORMANCE EVALUATION WITH INEQUITY AVERSE AGENTS
Björn Bartling, University of Munich

 



 

15:00 - 17:00

LIFE CYCLE AND RETIREMENT (EEA)
Chairperson: Ernesto Villanueva, Bank of Spain

Room U-12


 

HETEROGENEITY IN INTRA-MONTHLY CONSUMPTION PATTERNS, SELF-CONTROL, AND SAVINGS AT RETIREMENT
Giovanni Mastrobuoni, Collegio Carlo Alberto
Co-Author: Matthew Weinberg, University of Georgia

 

 

TEMPTATION AND SOCIAL SECURITY DISTORTION
Alessandro Bucciol, University of Padua

 

 

THE EFFECTS OF THE INTRODUCTION OF TAX INCENTIVES ON RETIREMENT SAVINGS
Ernesto Villanueva, Bank of Spain
Co-Authors: Juan Ayuso, Bank of Spain and Juan Jimeno, Bank of Spain

 


15:00 - 17:00

ECONOMICS OF EDUCATION I (EEA)
Chairperson: Stéphane Bonhomme, CEMFI

Room U-13


 

SELF-PRODUCTIVITY IN EARLY CHILDHOOD
Katja Coneus, ZEW, Mannheim
Co-Author: Friedhelm Pfeiffer, ZEW, Mannheim

 

 

THE IMPACT OF HEAD START ON BEHAVIORAL PROBLEMS OF CHILDREN AND ADOLESCENTS
Rita Ginja, University College London
Co-Author: pedro carneiro, UCL

 

 

IDENTIFYING THE SOURCE OF CATHOLIC SCHOOL EFFECTS ON WAGES AND EARNINGS
Young-Joo Kim, University of Wisconsin-Madison

 

 

ACCOUNTING FOR UNOBSERVABLES IN COMPARING SELECTIVE AND COMPREHENSIVE SCHOOLING
Stephane Bonhomme, CEMFI (madrid)
Co-Author: Ulrich Sauder, HEC Lausanne

 


15:00 - 17:00

VOTING AND EXPERIMENTS (EEA)
Chairperson: Pedro Vicente, Department of Economics and CSAE - University of Oxford

Room U-15


 

MINORITY VS. MAJORITY. AN EXPERIMENTAL STUDY OF STANDARDIZED BIDS
Agnes Pinter, Universidad Carlos III de Madrid
Co-Author: Robert F. Veszteg, Universidad de Navarra

 

 

ONE ROUND VERSUS TWO ROUND ELECTIONS: AN EXPERIMENTAL STUDY
Karine Van Der Straeten, PSE Paris
Co-Authors: André BLAIS, U. of Montreal, Jean-Francois Laslier, Ecole Polytechnique, Paris, Annie Laurent, CNRS and Nicolas Sauger, Institut d'Etudes Politiques de Paris

 


 

 

EDUCATION AND VOTER TURNOUT IN A QUASI-EXPERIMENTAL SCHOOL REFORM
Panu Pelkonen, University College London

 

 

IS VOTE BUYING EFFECTIVE? EVIDENCE FROM A RANDOMIZED EXPERIMENT IN WEST AFRICA
Pedro Vicente, Department of Economics and CSAE - University of Oxford

 


15:00 - 17:00

EXCHANGE RATES AND ORDER FLOWS IN THE FOREIGN EXCHANGE MARKETS (EEA)
Chairperson: Alexander Mende, RPM Risk & Portfolio Management AB

Room U-17


 

EXCHANGE RATE FORECASTING, ORDER FLOW AND MACROECONOMIC INFORMATION
Elvira Sojli, University of Warwick
Co-Authors: Dagfinn Rime, Norges Bank and Lucio Sarno, Warwick Business School

 

 

LOCAL INFORMATION IN FOREIGN EXCHANGE MARKETS
Maik Schmeling, Leibniz Universitaet Hannover
Co-Author: Lukas Menkhoff, Leibniz Universität Hannover

 

 

ORDER FLOWS, NEWS, AND EXCHANGE RATE VOLATILITY
Alexander Mende, RPM Risk & Portfolio Management AB
Co-Authors: Michael Froemmel, University of Hannover and Lukas Menkhoff, Leibniz Universität Hannover

 


15:00 - 17:00

FDI AND MULTINATIONAL FIRMS (EEA)
Chairperson: Sjoerd Beugelsdijk, Nijmegen School of Management

Room U-20


 

SECTORAL ANALYSIS OF THE LOCATION CHOICE OF MULTINATIONAL ENTERPRISES
Selin Sayek, Bilkent University
Co-Author: Banu Demir, World Bank

 

 

SPILLOVERS FROM MULTINATIONALS TO HETEROGENEOUS DOMESTIC FIRMS: EVIDENCE FROM HUNGARY
Gábor Békés, Institute of Economics, H.A.S. and Central European University
Co-Authors: Jörn Kleinert, University of Tübingen and Farid Toubal, Univeristy of Paris I, Panthéon Sorbonne

 

 

DO VERTICAL SPILLOVERS LEAD TO CHANGES IN MARKUPS? FIRM-LEVEL EVIDENCE FROM HUNGARY
Balazs Murakozy, Central European University and IE-HAS

 

 

HOW CULTURAL DISTANCE AFFECTS THE GEOGRAPHICAL DISTRIBUTION OF EXPORTS AND LOCAL PRODUCTION
Sjoerd Beugelsdijk, Nijmegen School of Management
Co-Author: Arjen Slangen, Erasmus University Rotterdam

 



 

15:00 - 17:00

CONSUMER BEHAVIOUR (EEA)
Chairperson: Wendelin Schnedler, Department of Economics, University of Heidelberg

Room U-22


 

HABITS AND HETEROGENEITY: A DYNAMIC DEMAND SYSTEM ANALYSIS
Soteroula Hajispyrou, University of Cyprus, Economics Research Centre

 

 

IS THE ELASTICITY OF INTERTEMPORAL SUBSTITUTION CONSTANT
Thomas Crossley, University of Cambridge
Co-Author: Hamish Low, University of Cambridge

 

 

INDIVIDUAL WELL-BEING IN A DYNAMIC PERSPECTIVE
Conchita D''Ambrosio, Universita'' di Milano-Bicocca & DIW Berlin
Co-Author: Joachim R. Frick, DIW Berlin

 

 

SATIATION AND INEQUALITY
Wendelin Schnedler, Department of Economics, University of Heidelberg
Co-Author: Stefan Napel

 


15:00 - 17:00

CORPORATE FINANCE (EEA)
Chairpersons: Andreas Stephan, European University Viadrina and Oleksandr Talavera, DIW-Berlin

Room U-10


 

FINANCING OF BUSINESS GROUPS - WHO SHOULD DO THE BORROWING?
Basak Akbel, University of Munich
Co-Author: Monika Schnitzer, University of Munich and CEPR

 

 

RECAPITALIZATION VS. LIQUIDATION IN RESOLUTION OF FINANCIAL DISTRESS
Thi Quynh Anh VO, GREMAQ – University of Toulouse 1

 

 

OPTIMAL AND NON-OPTIMAL LIQUIDATION DECISIONS OF CREDITORS
Max Bruche, CEMFI

 

 

THE EFFECTS OF UNCERTAINTY ON THE LEVERAGE OF NON-FINANCIAL FIRMS
Andreas Stephan, European University Viadrina and Oleksandr Talavera, DIW-Berlin
Co-Author: Christopher Baum, Boston College

 


15:00 - 17:00

ECONOMIC HISTORY (EEA)
Chairperson: Joachim Voth, UPF

Room U-7


 

GDP PER CAPITA OR REAL WAGES? MAKING SENSE OF CONFLICTING VIEWS ON PRE-INDUSTRIAL EUROPE.
Luis Angeles, University of Glasgow

 

 

ESTIMATING A CAGAN-TYPE DEMAND FUNCTION FOR GOLD: 1561-1913
Alexei Deviatov, New Economic School
Co-Author: Neil Wallace, Pennsylvania State University

 

 

AUCTIONING GOVERNMENT POSTS: REFLECTIONS ON THE ZIXUAN SYSTEM IN DYNASTIC CHINA
Audrey Hu, Amsterdam School of Economics/Tinbergen Instute
Co-Author: Liang Zou, University of Amsterdam

 

 

HISTORICAL DEFAULTS AND DEBT CRISES: AN ECONOMISTS GUIDE
Joachim Voth, UPF
Co-Author: Mauricio Drelichman, University of British Columbia

 


15:00 - 17:00

ENVIRONMENT I (EEA)
Chairperson: Frank C. Krysiak, University of Basel

Room U-11


 

ON THE SELF-SERVING USE OF EQUITY PRINCIPLES IN INTERNATIONAL CLIMATE NEGOTIATIONS
Andreas Löschel, Centre for European Economic Research (ZEW), Mannheim
Co-Authors: Andreas Lange, University of Maryland and ZEW, Carsten Vogt, University of Applied Sciences, Leipzig and Andreas Ziegler, Center for Corporate Responsibility and Sustainability (CCRS) at the University of Zurich

 

 

OVERSTATEMENTS IN THE GRANDFATHERING PROCESS - THE OPPOSITE OF TAX EVASION?
Frauke Eckermann, University of Dortmund

 

 

EMISSIONS TRADING AND PROFIT-NEUTRAL GRANDFATHERING
Robert Ritz, Oxford University
Co-Authors: Cameron Hepburn, Oxford University and John Quah, Oxford University

 

 

THE OPTIMAL SIZE OF A PERMIT MARKET
Frank C. Krysiak, University of Basel
Co-Author: Patrick Schweitzer, Technische Universität Berlin

 


15:00 - 17:00

TRADE AND GROWTH (EEA)
Chairperson: Istvan Konya, Magyar Nemzeti Bank and Central European University

Room U-14


 

PATH INTERDEPENDENCE AMONG EARLY AND LATE BLOOMERS IN A DYNAMIC HECKSCHER-OHLIN MODEL
Beatriz Gaitan, University of Hamburg
Co-Author: Terry Roe, University of Minnesota

 

 

INTRA-INDUSTRY SPECIALIZATION AND GROWTH IN AN HECKSCHER-OHLIN WORLD, 1976-2000
Jacques Potin, ESSEC Business School
Co-Author: Catia Batista, University of Oxford

 

 

DEVELOPMENT ACCOUNTING IN A HECKSCHER-OHLIN WORLD
Harald Fadinger, Department of Economics and Business, Universitat Pompeu Fabra

 

 

ENDOGENOUS MOBILITY, HUMAN CAPITAL AND TRADE
Istvan Konya, Magyar Nemzeti Bank and Central European University

 



 

15:00 - 17:00

FISCAL POLICY IN EMERGING MARKETS (EEA)
Chairperson: Ibrahim Unalmis, University of York

Room U-16


 

FISCAL AND MONETARY NEXUS IN EMERGING MARKET ECONOMIES: HOW DOES DEBT MATTER?
Garima Vasishtha, Bank of Canada
Co-Authors: Taimur Baig, IMF, Manmohan S. Kumar, IMF and Edda Zoli, IMF

 

 

FISCAL DISCIPLINE AND STABILITY UNDER CURRENCY BOARD SYSTEMS
Oliver Grimm, ETH Zurich

 

 

A FISCAL POLICY INDEX PROPOSITION FOR EMERGING MARKETS
Ibrahim Unalmis, University of York

 


15:00 - 17:00

INCENTIVES AND SOCIAL PREFERENCES (EEA)
Chairperson: Oddvar Kaarboe, University of Bergen

Room U-18


 

DEDICATED DOCTORS: PUBLIC AND PRIVATE PROVISION OF HEALTH CARE WITH ALTRUISTIC PHYSICIANS
Josse Delfgaauw, Erasmus University Rotterdam

 

 

SOCIAL EXCHANGE AND COMMON AGENCY IN ORGANIZATIONS
Hein Roelfsema, Utrecht School of Economics
Co-Author: Robert Dur, Erasmus University Rotterdam

 

 

FINANCIAL INCENTIVES IN ACADEMIA: RESEARCH VERSUS DEVELOPMENT
IAlbert Banal-Estanol, City University of London

Co-author: Inés Macho-Stadler, Universitat Autonoma de Barcelone

 

 

 

 

 

IS THERE A DEMAND RESPONSE BY PATIENTS IN PRIMARY CARE?
Oddvar Kaarboe, University of Bergen

 


15:00 - 17:00

THEORY I (EEA)
Chairperson: Salvador Barbera, Universitat Autonoma de Barcelona

Room U-19


 

THE OPTIMAL NUMBER OF ORGANIZATIONS
Jo Thori Lind, University of Oslo

 

 

UNAWARENESS OF THEOREMS
Spyros Galanis, University of Rochester

 

 

CREDIBLE RATINGS
Wing Suen, University of Hong Kong
Co-Authors: Ettore Dimiano, University of Toronto and Hao Li, University of Toronto

 

 

TOP MONOTONICITY: A WEAKK DOMAIN RESTRICTION ECOMPASSING SINGLE PEAKEDNESS, SINGLE CROSSING AND ORDER RESTRICTION
Salvador Barbera, Universitat Autonoma de Barcelona
Co-Author: BERNARDO MORENO, Universidad de Malaga

 


15:00 - 17:00

TECHNOLOGICAL PROGRESS (EEA)
Chairperson: Riccardo DiCecio, Federal Reserve Bank of St. Louis - Research Division

Room U-21


 

MANAGING TECHNOLOGICAL REGRESS: INNOVATION, ADAPTATION, AND THE ROLE OF PATENTS
Timo Goeschl, University of Heidelberg
Co-Author: Timothy Swanson, University College London

 

 

THE SPEED OF TECHNOLOGY ADOPTION WITH IMPERFECT INFORMATION IN EQUITY MARKETS
Katrin Tinn, London School of Economics

 

 

HETEROGENEOUS FIRMS, PRODUCTIVITY, AND POVERTY TRAPS
Riccardo DiCecio, Federal Reserve Bank of St. Louis - Research Division

 

 

TRIPS UNDER NO ENFORCEMENT OF THE NATIONAL TREATMENT COMMITMENT RULE
Rafael Pinho De Morais, University of Toulouse

 


15:00 - 17:00

CONTRIBUTED SESSIONS 1
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

ALLOCATION MECHANISMS (ESEM TAE)
Chairperson: Eva Benz, Bonn Graduate School of Economics

Room B-1


 

MANNA FROM HEAVEN OR FORTY YEARS IN THE DESERT: OPTIMAL ALLOCATION WITHOUT TRANSFER PAYMENTS
Surajeet Chakravarty, University of Exeter
Co-Author: Todd Kaplan, University of Exeter

 

 

STOCHASTIC MECHANISMS IN SETTINGS WITHOUT MONETARY TRANSFERS: REGULAR CASE
Eugen Kovac, University of Bonn
Co-Author: Tymofiy Mylovanov, University of Bonn

 

 

THE COST-SHARING OF EXCLUDABLE PUBLIC GOODS
Antonio Nicolo', Department of Economics, University of Padua
Co-Author: Jordi Masso, Departamento de Economia, Universitat Autonoma de Barcelona

 

 

THE INITIAL ALLOCATION OF CO2 EMISSION ALLOWANCES: A THEORETICAL AND EXPERIMENTAL STUDY
Eva Benz, Bonn Graduate School of Economics

 


15:00 - 17:00

APPLIED INDUSTRIAL ORGANISATION (ESEM TAE)
Chairperson: Rainer Frey, Deutsche Bundesbank

Room B-13



 

 

MARKET POWER, MULTIMARKET CONTACT AND PRICING: SOME EVIDENCE FROM THE US AUTOMOBILE MARKET
Nina Leheyda, CDSEM, University of Mannheim

 

 

ON THE EMERGENCE OF PRIVATE INSURANCE IN PRESENCE OF MUTUAL AGREEMENTS
Renaud Bourlès, G.R.E.Q.A.M

 

 

MONOPOLY PROVISION OF TUNE-INS
Levent Celik, CERGE-EI

 

 

THE ROLE OF TECHNOLOGY IN M&AS: A FIRM-LEVEL COMPARISON OF CROSS-BORDER AND DOMESTIC DEALS
Rainer Frey, Deutsche Bundesbank
Co-Author: Katrin Hussinger, Catholic University Leuven

 


15:00 - 17:00

ASSET PRICING (ESEM TAE)
Chairperson: Paulo Maio, Banco de Portugal

Room B-4


 

INCOMPLETE MARKETS AND THE YIELD CURVE
François Le Grand, PSE
Co-Authors: Edouard Challe, CNRS and Xavier Ragot, CNRS

 

 

ASSET PRICING IN A GENERAL EQUILIBRIUM PRODUCTION ECONOMY WITH CHEW–DEKEL RISK PREFERENCES
Rui Castro, Université de Montréal
Co-Authors: Claudio Campanale, and Gian Luca Clementi,

 

 

THE QUALITY OF PUBLIC INFORMATION AND THE TERM STRUCTURE OF INTEREST RATES
Frederik Lundtofte, Dept of Economics - Lund University

 

 

WHAT DOES THE CROSS-SECTION TELL ABOUT ITSELF? AN ASSET PRICING MODEL WITH CROSS-SECTIONAL MOMENTS
Paulo Maio, Banco de Portugal

 


15:00 - 17:00

BEHAVIOURAL ECONOMICS (ESEM TAE)
Chairperson: Clemens Puppe, University of Karlsruhe

Room A-5


 

PROCRASTINATION, PARTIAL NAIVETE, AND BEHAVIORAL WELFARE ANALYSIS
Geir B. Asheim, University of Oslo

 

 

THE EVOLUTION OF MORAL CODES OF BEHAVIOR
Christoph Kuzmics, Kellogg School of Management
Co-Author: Carlos Rodriguez-Sickert,

 

 

DO THE RECIPROCAL TRUST LESS?
Steffen Altmann, University of Bonn and IZA
Co-Authors: Thomas Dohmen, IZA/Bonn and Matthias Wibral, University of Bonn and IZA

 

 

WHY SUGGEST NON-BINDING RETAIL PRICES?
Clemens Puppe, University of Karlsruhe
Co-Author: Stephanie Rosenkranz, Utrecht School of Economics

 


15:00 - 17:00

CREDIT MARKETS (ESEM TAE)
Chairperson: Hajime Tomura, Bank of Canada

Room A-7


 

THE IMPORTANCE OF BANK LOAN SUPPLY FOR REAL ECONOMIC ACTIVITY IN THE EURO AREA -- A PANEL DATA ANALYSIS
Christian Melzer, University of Bonn

 

 

NETWORK EFFECTS IN RISK SHARING AND CREDIT MARKET ACCESS: EVIDENCE FROM ISTANBUL
Oya Pinar Ardic, Bogazici University
Co-Authors: Fikret Adaman, Bogazici University and Didem Tuzemen, University of Maryland - College Park

 

 

MODELING CREDIT TO THE PRIVATE SECTOR IN THE EURO AREA: A NON LINEAR APPROACH
Leonardo Gambacorta, Banca d''Italia
Co-Author: Carlotta Rossi, Banca d'Italia

 

 

FIRM DYNAMICS, BANKRUPTCY LAWS AND TOTAL FACTOR PRODUCTIVITY
Hajime Tomura, Bank of Canada

 


15:00 - 17:00

DEVELOPMENT ECONOMICS (ESEM TAE)
Chairperson: Zhong Zhao, Institute for the Study of Labor (IZA)

Room A-3


 

FREE EDUCATION, FERTILITY AND HUMAN CAPITAL ACCUMULATION
Leonid Azarnert, Bar Ilan University

 

 

"METROPOLIZATION AND DEVELOPMENT"
Paul Cahu, Université Paris 1 - CES

 

 

STATUS-SEEKING BEHAVIOR, THE EVOLUTION OF INCOME INEQUALITY, AND GROWTH
Koichi Kawamoto, Osaka University

 

 

THE FERTILITY EFFECT OF CATASTROPHE: U.S. HURRICANE BIRTHS
Zhong Zhao, Institute for the Study of Labor (IZA)

 


15:00 - 17:00

ECONOMIC THEORY (ESEM TAE)
Chairperson: Balkenborg Dieter, University of Exeter

Room A-2


 

A NOTE ON THE CONVEXITY AND COMPACTNESS OF THE INTEGRAL OF A BANACH SPACE VALUED CORRESPONDENCE
Konrad Podczeck, University of Vienna

 

 

COMPARATIVE STATICS, INFORMATIVENESS, AND  THE INTERVAL DOMINANCE ORDER
John Quah, Oxford University
Co-Author: Bruno Strulovici, Oxford University

 

 

TERMINAL TYPE STRUCTURES
Amanda Friedenberg, Washington University

 

 

REFINED BEST-RESPONSE CORRESPONDENCE AND DYNAMICS
Balkenborg Dieter, University of Exeter
Co-Authors: Josef Hofbauer, and Christoph Kuzmics, Kellogg School of Management

 


15:00 - 17:00

LEARNING (ESEM TAE)
Chairperson: Larry Samuelson, Yale University

Room A-4


 

DISAGREEMENT AND LEARNING IN A DYNAMIC CONTRACTING MODEL
Mark Westerfield, University of Southern California
Co-Author: Tobias Adrian, Federal Reserve Bank of New York

 

 

HOW TO LEARN WITHOUT PRIORS
Karl Schlag, European University Institute

 

 

JOB MARKET SIGNALING AND EMPLOYER LEARNING
Julien Prat, University of Vienna
Co-Author: Carlos Alós-Ferrer, University of Konstanz

 

 

COMMON LEARNING
Larry Samuelson, Yale University

 


15:00 - 17:00

WAGES, COMPENSATION (ESEM TAE)
Chairperson: Sandra Ludwig, University of Munich

Room U-5


 

EXECUTIVE PAY WITH OBSERVABLE DECISIONS
Rosa Loveira, Universidad Complutense de Madrid
Co-Authors: Marco Celentani, Universidad Carlos III de Madrid and Pablo Ruiz-Verdu, Universidad Carlos III de Madrid

 

 

CONTRACTUAL INCOMPLETENESS AS A SIGNAL OF TRUST
Florian Herold, Northwestern University

 

 

RELATIONAL CONTRACTS WITH INDIVIDUAL AND STANDARDIZED WAGES
Wolfgang J. Luhan, University of Oldenburg
Co-Authors: Martin Kocher, CREED, Amsterdam and Matthias Sutter, University of Innsbruck

 

 

TEAMS, INCENTIVES, AND INTERMEDIATE INFORMATION
Sandra Ludwig, University of Munich

 


15:00 - 17:00

CONTRIBUTED SESSIONS 1
ESEM: Econometrics and Empirical Economics


 


15:00 - 17:00

ARCH MODELS (ESEM EEE)
Chairperson: M. Angeles Carnero, Universidad de Alicante

Room B-12


 

ESTIMATING GARCH VOLATILITY IN THE PRESENCE OF OUTLIERS
M. Angeles Carnero, Universidad de Alicante
Co-Authors: Daniel Peña, Universidad Carlos III de Madrid and Esther Ruiz, Universidad Carlos III de Madrid

 

 

THE RELATIONSHIP BETWEEN ARIMA-GARCH AND UNOBSERVED COMPONENT MODELS WITH GARCH DISTURBANCES
Antoni Espasa, Universidad Carlos III de Madrid
Co-Authors: Santiago Pellegrini, Universidad Carlos III de Madrid and Esther Ruiz, Universidad Carlos III de Madrid

 

 

A COMPONENT GARCH MODEL WITH TIME VARYING WEIGHTS

Giuseppe Storti, University of Salerno
Co-author : Luc Bauwens, CORE - UC Louvain

 

 

MULTIVARIATE REGIME SWITCHING GARCH WITH AN APPLICATION TO INTERNATIONAL STOCK MARKETS
Markus Haas, University of Munich

 


15:00 - 17:00

BANK AND MONETARY POLICY 1 (ESEM EEE)
Chairperson: Haroon Mumtaz, Bank of England

Room B-11


 

INVESTIGATING THE STRUCTURAL STABILITY OF THE PHILLIPS CURVE TRADE-OFF
Haroon Mumtaz, Bank of England
Co-Author: Jan J. J. Groen, Bank of England

 

 

A MODEL OF MONEY WITH MULTILATERAL MATCHING
Philipp Kircher, University of Pennsylvania

 

 

MODEL SELECTION FOR MONETARY POLICY ANALYSIS---IMPORTANCE OF EMPIRICAL VALIDITY
Ragnar Nymoen, University of Oslo
Co-Author: Q. Farooq Akram, Norges Bank

 


15:00 - 17:00

CONSUMER BEHAVIOUR 1 (ESEM EEE)
Chairperson: Martin Browning, Oxford

Room B-10


 

ALLOCATION WITHIN THE HOUSEHOLD: DIRECT SURVEY EVIDENCE.
Martin Browning, Oxford

 

 

A DISCRETE CHOICE ESTIMATION OF A COLLECTIVE MODEL OF HOUSEHOLD LABOUR SUPPLY: AN APPLICATION FOR GERMANY
Denis Beninger, ZEW MANNHEIM

 

 

AN EMPIRICAL MODEL OF SEARCH WITH VERTICALLY DIFFERENTIATED PRODUCTS
Matthijs Wildenbeest, Indiana University

 

 

THE IMPACT ON BROADBAND ACCESS TO THE INTERNET OF THE DUAL OWNERSHIP OF TELEPHONE AND CABLE NETWORKS
Pedro Pereira, Portuguese Competition Authority
Co-Author: Tiago Ribeiro, INDERA

 

 



15:00 - 17:00

CROSS COUNTRY AND SPATIAL ECONOMETRICS (ESEM EEE)
Chairperson: Michael Pfaffermayr, Dept. of Economics, University of Innsbruck

Room B-6


 

CONDITIONAL BEAT- AND SIGMA-CONVERGENCE IN SPACE: A MAXIMUM LIKELIHOOD APPROACH
Michael Pfaffermayr, Dept. of Economics, University of Innsbruck

 

 

`DUAL' GRAVITY: USING SPATIAL ECONOMETRICS TO CONTROL FOR MULTILATERAL RESISTANCE
Wilfried Koch, LEG, Université de Bourgogne
Co-Authors: Kristian Behrens, CORE, Université catholique de Louvain and Cem Ertur, Laboratoire d'Economie d'Orléans - Université d'Orléans

 

 

SMALL SAMPLE PROPERTIES OF MAXIMUM LIKELIHOOD VERSUS GENERALIZED METHOD OF MOMENTS BASED TESTS FOR SPATIALLY AUTOCORRELATED ERRORS
Mario Larch, ifo Institute for Economic Research
Co-Authors: Peter Egger, CES ifo, Michael Pfaffermayr, University of Innsbruck and Janette Walde,

 


15:00 - 17:00

ECONOMETRICS OF HEALTH 1 (ESEM EEE)
Chairperson: Sumedha Gupta, Tinbergen Institute, Vrije Universiteit Amsterdam

Room B-9


 

EARLY LIFE CONDITIONS, MARITAL STATUS, AND MORTALITY
Sumedha Gupta, Tinbergen Institute, Vrije Universiteit Amsterdam
Co-Author: Gerard van den Berg, Free University, Amsterdam

 

 

PHARMACEUTICAL EXPENDITURE, TOTAL HEALTH CARE EXPENDITURE AND GDP
marcuello carmina, university of zaragoza
Co-Authors: Montanes Antonio, University of Zaragoza and Clemente Jesus, university of zaragoza

 


15:00 - 17:00

FORECASTING (ESEM EEE)
Chairperson: Kees Jan van Garderen, University of Amsterdam

Room B-7


 

FORECASTING GROWTH AND LEVELS IN LOGLINEAR UNIT ROOT MODELS
Kees Jan van Garderen, University of Amsterdam

 

 

THE USE OF ENCOMPASSING TESTS FOR FORECAST COMBINATIONS
Kisinbay Turgut, IMF

 

 

TOWARD OPTIMAL MULTISTEP FORECASTS IN UNSTABLE AUTOREGRESSIONS
Jin-Lung Lin, Institute of Economics, Academia Sinica
Co-Authors: Ching-Kang ING, Academia Sinica and Shu-Hui Yu, National Chi-Nan University

 


 

 

A SIMILARITY-BASED APPROACH TO PREDICTION
Offer Lieberman, University of Haifa
Co-Authors: Itzhak Gilboa, Tel Aviv University and David Schmeidler, Tel Aviv University

 


15:00 - 17:00

HIGH FREQUENCY FINANCIAL ECONOMETRICS 1 (ESEM EEE)
Chairperson: Charles Bos, FEWEB, Vrije Universiteit Amsterdam

Room B-3


 

HOW FREQUENTLY DOES THE STOCK PRICE JUMP? -- AN ANALYSIS OF HIGH-FREQUENCY DATA WITH MICROSTRUCTURE NOISES
Andras Fulop, ESSEC Business School Paris
Co-Author: Jin-Chuan Duan, Rotman School of Management, University of Toronto

 

 

INTRADAILY SEASONALITY OF RETURNS DISTRIBUTION. A QUANTILE REGRESSION APPROACH AND INTRADAILY VAR.
Laura Coroneo, Universite Libre de Bruxelles
Co-Author: David Veredas, Universite Libre de Bruxelles

 

 

LIQUIDITY-BASED ESTIMATION OF SPOT VOLATILITY UNDER MICROSTRUCTURE NOISE
Oliver Grothe, University of Cologne
Co-Author: Christoph Müller, University of Cologne

 

 

MODEL-BASED ESTIMATION OF HIGH FREQUENCY JUMP DIFFUSIONS WITH MICROSTRUCTURE NOISE AND STOCHASTIC VOLATILITY
Charles Bos, FEWEB, Vrije Universiteit Amsterdam

 


15:00 - 17:00

NONPARAMETRIC METHODS 1 (ESEM EEE)
Chairperson: Anton Flossmann, Department of Economics, University of Konstanz

Room B-8


 

EMPIRICAL BIAS BANDWIDTH CHOICE FOR LOCAL POLYNOMIAL MATCHING ESTIMATORS
Anton Flossmann, Department of Economics, University of Konstanz

 

 

T-STATISTIC BASED CORRELATION AND HETEROGENEITY ROBUST INFERENCE
Ulrich Müller, Princeton
Co-Author: Rustam Ibragimov, Harvard University

 

 

REPRESENTATION THEOREM FOR CONVEX NONPARAMETRIC LEAST SQUARES
Timo Kuosmanen, MTT

 

 

IDENTIFICATION AND ESTIMATION OF INCENTIVE PROBLEMS: ADVERSE SELECTION
Xavier d''Haultfoeuille, ENSAE, CREST-INSEE
Co-Author: Philippe Fevrier, Crest-Lei

 


15:00 - 17:00

REGIME SWITCHING (ESEM EEE)
Chairperson: Bruno Feunou Kamkui, Université de Montréal

Room B-5


 

REGIME SWITCHING AND TIME VARIATION OF CONDITIONAL SKEWNESS AND KURTOSIS IN S&P500
Bruno Feunou Kamkui, Université de Montréal

 

 

THE YIELD SPREAD AND GDP GROWTH - TIME VARYING LEADING PROPERTIES AND THE ROLE OF MONETARY POLICY
Jens Hogrefe, University of Kiel

 

 

OPTIMAL TEST FOR MARKOV SWITCHING GARCH MODELS
Liang Hu, University of Leeds
Co-Author: Yongcheol Shin, Unversity of Leeds

 

 

DERIVING THE AUTOCOVARIANCES OF POWERS OF MARKOV-SWITCHING GARCH MODELS, WITH APPLICATIONS TO STATISTICAL INFERENCE
Jean-Michel Zakoian, CREST and University Lille 3
Co-Author: Christian Francq, University Lille 3

 


15:00 - 17:00

TESTING 1 (ESEM EEE)
Chairperson: Harald Lohre, Union Investment Institutional GmbH

Room B-2


 

DISMANTLING THE GLOBAL ACCRUAL ANOMALY
Harald Lohre, Union Investment Institutional GmbH
Co-Author: Markus Leippold, Imperial College London

 

 

THE PERFORMANCE OF CONVENTIONAL TESTS ABOUT AN EXPECTATION : A REASSESSMENT
Frederic Jouneau-sion, EQUIPPE univeriste de Lille
Co-Authors: Jean-Marie Dufour, U de Montreal and Olivier Torrès, GREMARS Université Lille 3

 

 

INDICES AND TESTS FOR MATCHING AND MOBILITY THEORIES: THE IMPACT OF THE ONE CHILD POLICY ON PARTNER CHOICE AND GENERATIONAL MOBILITY IN URBAN CHINA.
Gordon Anderson, Economics Department University of Toronto
Co-Author: Teng Wah Leo, Economics Department St francis Xavier University

 

 

A SIMPLE HETEROSKEDASTICITY AND NONNORMALITY ROBUST F-TEST FOR INDIVIDUAL EFFECTS
Chris Orme, University of Manchester
Co-Author: Takashi Yamagata, University of Cambridge

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

FISHER SCHULTZ LECTURE


 


17:30 - 19:30

FISHER-SCHULTZ LECTURE (ESEM TAE)
Chairperson: János Kornai, Collegium Budapest and Central European University

Room Intercontinental


 

SEGREGATION AND DIVERSITY IN SOCIAL STRUCTURE: THE IMPACT ON ECONOMIC WELFARE
Matthew Jackson, Stanford University

 


20:00 - 22:30

WELCOME PARTY, PALACE OF ARTS


 


TUESDAY 28 AUGUST 2007


09:00 - 11:00

INVITED SESSIONS 1
EEA


 


09:00 - 11:00

CULTURAL IDENTITY, MIGRATION AND MARKETS (EEA)
Chairperson: Alberto Bisin, New York University

Room A-6


 

ETHNIC IDENTITY
Klaus F. Zimmermann, IZA, Bonn University and DIW Berlin

 

 

EDUCATION AND NATIONAL IDENTITY
Paolo Masella, London School of Economics
Co-Authors: Oriol Aspachs, London School of Economics, Irma Clots-Figueras, Universidad Carlos III de Madrid and Joan Costa-Font, London School of Economics and Universitat de Barcelona

 

 

ARE THE MUSLIMS DIFFERENT FROM OTHER MIGRANTS IN TERMS OF CULTURAL INTEGRATION?
Alberto Bisin, New York University
Co-Authors: Eleonora Patacchini, University of Roma "La Sapienza", Thierry Verdier , Paris-Jourdan Sciences Economiques and Yves Zenou, Research Institute of Industrial Economics

 


09:00 - 11:00

WARS, ECONOMICS AND INSTITUTIONS (EEA)
Chairperson: Philippe Martin, Université Paris 1

Room A-4


 

WAR AND STATE CAPACITY

Torsten Persson, Institute for International Economics Studies

Co-Author: Tim Besley, London School of Economics

 

 

DEMOCRACY, DEVELOPMENT, AND CONFLICT
Paul Collier, Saint Anthony’s College – Oxford University    

Co-Author: Dominic Rohner, University of Cambridge

 

 

CIVIL WARS AND INTERNATIONAL TRADE
Philippe Martin, Université Paris 1
Co-Authors: Thierry Mayer, Université Paris 1, Panthéon-Sorbonne and Mathias Thoenig, Université de Genève

 


09:00 - 11:00

UNDERSTANDING EXCHANGE RATES (EEA)
Chairperson: Sergio Rebelo, Northwestern University

Room U-9


 

CURRENCY SPECULATION AT LONG AND SHORT HORIZONS
Martin Eichenbaum, Northwestern University
Co-Author: Sergio Rebelo, Northwestern University

 

 

TRADING ACTIVITY AND EXCHANGE RATES IN HIGH FREQUENCY EBS DATA
Alain Chaboud, Federal Reserve Bank
Co-Authors: Ed Howorka, EBS and Jonathan Wright, Federal Reserve Bank

 

 

INEQUALITY AND REAL EXCHANGE RATES
Luigi Pistaferri, Stanford University
Co-Author: Narayana Kocherlakota, University of Minnesota

 


09:00 - 11:00

INVITED SESSIONS 1
ESEM: Theoretical and Applied Economics


 


09:00 - 11:00

ADVANCES IN ECONOMIC THEORY (ESEM TAE)
Chairperson: Martin Hellwig, Max Planck Institute for Research on Collective Goods

Room B-13


 

MINDLESS ECONOMICS
Wolfgang Pesendorfer, Princeton University, USA

 

 

DESIGN OF MATCHING MARKETS: KIDNEY EXCHANGE
Utku Unver, University of Pittsburgh

 


09:00 - 11:00

INVITED SESSIONS 1
ESEM: Econometrics and Empirical Economics


 


09:00 - 11:00

ECONOMETRIC THEORY (ESEM EEE)
Chairperson: Nour Meddahi, Imperial College, London

Room B-4


 

UNDERIDENTIFICATION?
Enrique Sentana, CEMFI
Co-Authors: Manuel Arellano, CEMFI and Lars Peter Hansen, University of Chicago

 

 

INSTRUMENTAL VARIABLE ESTIMATION IN A DATA RICH ENVIRONMENT
Serena Ng, University of Michigan
Co-Author: Jushan Bai, NYU

 


11:00 - 11:30

COFFEE BREAK


 


11:30 - 13:30

MARSHALL LECTURE, HOTEL INTER-CONTINENTAL


 


11:30 - 13:30

MARSHALL LECTURE (EEA)
Chairperson: Guido Tabellini, IGIER, Bocconi University - President EEA

Room Intercontinental


 

SOCIAL CAPITAL
Luigi Guiso, European University Institute

 


13:30 - 15:00

LUNCH


 



15:00 - 17:00

CONTRIBUTED SESSIONS 2
EEA


 


15:00 - 17:00

IO: APPLIED (EEA)
Chairperson: Carole Haritchabalet, GREMAQ

Room U-1


 

CASE PREPARATION, SETTLEMENT, TRIAL
Laurent Linnemer, CREST-LEI
Co-Author: Philippe Choné, CREST-INSEE

 

 

REPUTATION BUILDING ON ANONYMOUS TRADING PLATFORMS: THE CASE OF EBAY
Konrad Stahl, University of Mannheim
Co-Authors: Tobias Klein, University of Mannheim, Christian Lambertz, University of Mannheim and Giancarlo Spagnolo, Consip and Stockholm School of Economics

 

 

VALUING SATELLITE SYSTEMS TO SUPPORT FISHING IN A DYNAMIC COMPETITIVE MODEL
Carole Haritchabalet, GREMAQ
Co-Author: Fabrice Collard, GREMAQ

 

 

STRATEGIC INFORMATIVE ADVERTISING IN A HORIZONTALLY DIFFERENTIATED DUOPOLY
Levent Celik, CERGE-EI

 


15:00 - 17:00

INDUSTRIAL ORGANIZATION I (EEA)
Chairperson: Frank Verboven, K.U.Leuven

Room U-20


 

OPTIMAL NONLINEAR PRICING,BUNDLING COMMODITIES AND CONTINGENT SERVICES
Marion Podesta, LASER- University of Montpellier 1
Co-Author: Jean-Christophe Poudou, LASER

 

 

PUBLIC MARKETS TAILORED FOR THE CARTEL - FAVORITISM IN PROCUREMENT AUCTIONS -
Ariane Lambert-Mogiliansky, PSE (CNRS, ENPC, ENS), Paris
Co-Author: Gregory Kosenok, New Economic School

 

 

NON-EXCLUSIVITY AND ADVERSE SELECTION: AN APPLICATION TO THE ANNUITY MARKET
Gwenael Piaser, universite du Luxembourg

 


15:00 - 17:00

DEVELOPMENT (EEA)
Chairperson: Ludger Woessmann, University of Munich and Ifo Institute

Room U-21


 

IS THE RELATIONSHIP BETWEEN AID AND ECONOMIC GROWTH NONLINEAR?
Chih Ming Tan, Tufts University
Co-Authors: Andros Kourtellos, University of Cyprus and Xiaobo Zhang, International Food Policy Research Institute (IFPRI)

 

 

NON-AGRICULTURAL EMPLOYMENT AS PATHWAY OUT OF RURAL POVERTY? EVIDENCE FROM PERU
Erik Jonasson, Lund University

 

 

REPUTATION CONCERNS IN AID CONDITIONALITY
Ruxanda Berlinschi, Universite Sciences Sociales

 

 

THE ROLE OF SCHOOL IMPROVEMENT IN ECONOMIC DEVELOPMENT
Ludger Woessmann, University of Munich and Ifo Institute
Co-Author: Eric A. Hanushek, Hoover Institution, Stanford University

 


15:00 - 17:00

PHILLIPS CURVE (EEA)
Chairperson: Serguei Maliar, University of Alicante

Room U-10


 

WHY IS THE NEW KEYNESIAN PHILLIPS CURVE APPARENTLY FLAT?
Keith Kuester, European Cental Bank
Co-Authors: Gernot Müller, Goethe University Frankfurt and Sarah Stolting, European University Institute

 

 

PHILLIPS CURVE OR WAGE CURVE? EVIDENCE FROM WEST GERMANY: 1980-2004
Uwe Blien, Institute for Employment Research
Co-Authors: Badi Baltagi, Syracuse University and Katja Wolf, Institute for Employment Research

 

 

A STRUCTURAL EVALUATION OF THE SACRIFICE RATIO IN THE EURO AREA
Jerome Coffinet, Banque de France

Co-authors: Julien Matheron, Banque de France, Celine Pilly, Banque de France

 

 

DOWNWARD NOMINAL WAGE RIGIDITY: THE IMPLICATIONS FROM A NEW-KEYNESIAN MODEL
Serguei Maliar, University of Alicante
Co-Authors: Liudmyla Hvozdyk, University of Cambridge and Lilia Maliar, Universidad de Alicante

 


15:00 - 17:00

MONETARY POLICY (EEA)
Chairperson: Juha Kilponen, Bank of Finland

Room U-9


 

MANAGING UNCERTAINTY THROUGH ROBUST-SATISFICING MONETARY POLICY
Q. Farooq Akram, Norges Bank
Co-Authors: Yakov Ben-Haim, Technion, Israel Institute of Technology and Øyvind Eitrheim, Norges Bank

 

 

LIQUIDITY RISK AND MONETARY POLICY
Stephan Sauer, University of Munich

 

 

DISCRETION AND THE TRANSMISSION LAGS OF MONETARY POLICY
Juha Kilponen, Bank of Finland
Co-Author: Kai Leitemo, Norwegian School of Management and Bank of Finland

 


 

 

WAGE SETTING ACTORS, STICKY WAGES, AND OPTIMAL MONETARY POLICY
Miguel Casares, Universidad Pública de Navarra

 


15:00 - 17:00

INTERNATIONAL BANKING AND THE MACROECONOMY (EEA)
Chairperson: Wiljhelm Althammer, HHL - Leipzig Graduate School of Management

Room U-4


 

INTERNATIONAL BANK PORTFOLIOS AND THE TRANSMISSION OF SHOCKS
Sven Blank, University of Tuebingen
Co-Author: Claudia Buch, University Tuebingen

 

 

INTERNATIONAL BANKING AND THE ALLOCATION OF RISK
Katja Neugebauer, University of Tuebingen
Co-Authors: Claudia Buch, University Tuebingen and Gayle DeLong, Baruch College, New York

 

 

DO FOREIGN OWNED BANKS AFFECT BANKING SYSTEM LIQUIDITY RISK?
Valeriya Dinger, University of Bonn

 

 

HOW FOREIGNERS TOOK OVER THE BANKING MARKETS IN TRANSITION
Wiljhelm Althammer, HHL - Leipzig Graduate School of Management
Co-Author: Rainer Haselmann, Mainz University

 


15:00 - 17:00

HEALTH III (EEA)
Chairperson: Martin Salm, MEA, University of Mannheim

Room U-3


 

SPENDING TO SAVE? STATE HEALTH EXPENDITURE AND INFANT MORTALITY IN INDIA
Sonia Bhalotra, University of Bristol, UK

 

 

THE GROWTH IMPACT OF ALTERNATIVE CHILD CARE POLICIES
Alessandro Sommacal, Université Catholique de Louvain
Co-Author: Alessandra Casarico,

 

 

INFANT MORTALITY AND CHILD NUTRITION IN BANGLADESH: MODELLING SAMPLE SELECTION USING COPULAS
Diane Dancer, University of Sydney
Co-Authors: Anu Rammohan, University of Sydney and Murray Smith, University of Aberdeen

 

 

THE CAUSAL EFFECT OF PENSIONS ON LONGEVITY. EVIDENCE FROM UNION ARMY VETERANS
Martin Salm, MEA, University of Mannheim
Co-Author: Frank Sloan, Duke University

 


15:00 - 17:00

MIGRATION II (EEA)
Chairperson: Roland Rathelot, INSEE-CREST

Room U-6



 

 

IMMIGRANT ASSIMILATION IN A BILINGUAL COUNTRY
Gregory Verdugo, Université de Toulouse
Co-Author: Javier Ortega, Université de Toulouse, London School of Economics, CEPR, IZA

 

 

CIVIC PARTICIPATION OF IMMIGRANTS: CULTURE TRANSMISSION OR ASSIMILATION?
Mariya Aleksynska, Universita Luigi Bocconi

 

 

SOCIAL EXCLUSION OF IMMIGRANTS IN GERMANY
John Haisken-DeNew, RWI Essen
Co-Author: Mathias Sinning, RWI Essen

 

 

WAGES AND EMPLOYMENT OF SECOND-GENERATION IMMIGRANTS IN FRANCE
Roland Rathelot, INSEE-CREST
Co-Authors: Romain Aeberhardt, INSEE-CREST, Denis Fougère, CNRS,CREST-INSEE,CEPR,IZA and Julien Pouget, DREES-CREST-IZA

 


15:00 - 17:00

LABOR MARKETS: CAREER AND WAGES (EEA)
Chairperson: Pablo Casas-Arce, Universitat Pompeu Fabra

Room U-19


 

ON THE OPTIMAL COMBINATION OF PROMOTION TOURNAMENTS AND INDIVIDUAL PERFORMANCE PAY
Anja Schöttner, Humboldt University Berlin
Co-Author: Veikko Thiele, UBC Vancouver

 

 

THE RISE OF INDIVIDUAL PERFORMANCE PAY
Ola Kvaløy, University of Stavanger
Co-Author: Trond E. Olsen, Norwegian School of Economics and BA

 

 

OPTIMAL GROUP INCENTIVES WITH SOCIAL PREFERENCES AND SELF-SELECTION
Sabrina Teyssier, GATE - University Lyon 2

 

 

CAREER TOURNAMENTS
Pablo Casas-Arce, Universitat Pompeu Fabra

 


15:00 - 17:00

ECONOMICS OF EDUCATION II (EEA)
Chairperson: Yves Zenou, Research Institute of Industrial Economics

Room U-13


 

DOES MOBILITY OF EDUCATED WORKERS UNDERMINE DECENTRALIZED EDUCATION POLICIES?
Christiane Schuppert, University of Dortmund

 

 

ENCLAVES, PEER EFFECTS AND STUDENT LEARNING OUTCOMES
Jane Friesen, Simon Fraser University
Co-Author: Brian Krauth, Simon Fraser University

 

 

LEARNING AND PEER EFFECTS
Gerald Eisenkopf, University of Konstanz

 


 

 

RACIAL IDENTITY AND EDUCATION
Yves Zenou, Research Institute of Industrial Economics
Co-Author: Eleonora Patacchini, University of Roma "La Sapienza"

 


15:00 - 17:00

LABOUR SUPPLY (EEA)
Chairperson: Martin Ljunge, University of Copenhagen

Room U-18


 

OPTIMAL INCOME TAXATION OF LONE MOTHERS: AN EMPIRICAL COMPARISON FOR BRITAIN AND GERMANY
Peter Haan, DIW Berlin
Co-Authors: Richard Blundell, Mike Brewer, and Andrew Shephard, IFS

 

 

THE IMPACT OF POTENTIAL LABOR SUPPLY ON LICENSING EXAM DIFFICULTY IN THE US MARKET FOR LAWYERS
Mario Pagliero, University of Turin

 

 

INTRODUCING FAMILY TAX SPLITTING IN GERMANY: HOW WOULD IT AFFECT THE INCOME DISTRIBUTION AND WORK INCENTIVES
Katharina Wrohlich, DIW Berlin
Co-Author: Viktor Steiner, DIW Berlin, FU Berlin

 

 

HALF THE JOB IS SHOWING UP: RETURNS TO WORK, TAXES, AND SICK LEAVE CHOICES
Martin Ljunge, University of Copenhagen

 


15:00 - 17:00

VOTING RULES, LOBBYING AND ECONOMIC OUTCOMES (EEA)
Chairperson: Cristina Terra, EPGE/Fundação Getulio Vargas

Room U-22


 

QUORUM AND TURNOUT IN REFERENDA
Andrea Mattozzi, Caltech
Co-Author: Helios Herrera, SIPA and ITAM-CIE

 

 

HOW DO ELECTORAL RULES AFFECT ECONOMIC POLICY? EVIDENCE FROM STATE AND LOCAL GOVERNMENTS
Patricia Funk, University Pompeu Fabra
Co-Author: Christina Gathmann, Stanford University

 

 

THE IMPACT OF REFERENDUMS ON THE CENTRALISATION OF PUBLIC GOODS PROVISION: A POLITICAL ECONOMY APPROACH
Jan Schnellenbach, University of Heidelberg
Co-Authors: Lars Feld, University of Heidelberg and Christoph Schaltegger, Swiss Federal Tax Administration

 

 

POLITICAL BUSINESS CYCLES THROUGH LOBBYING
Cristina Terra, EPGE/Fundação Getulio Vargas
Co-Author: Marco Bonomo, EPGE/Fundação Getulio Vargas and CIREQ

 


15:00 - 17:00

EXPERIMENTS (EEA)
Chairperson: Dirk Engelmann, Royal Holloway, University of London

Room U-8



 

 

COOPERATION IN VISCOUS POPULATIONS - EXPERIMENTAL EVIDENCE
Veronika Grimm, University of Cologne

 

 

FLEXIBLE APPROXIMATIONS OF SUBJECTIVE EXPECTATIONS -AN APPLICATION TO THE INVESTMENT GAME-
Sabine Kröger, Laval University
Co-Authors: Charles Bellemare, Laval University and Luc Bissonnette, Laval University

 

 

COORDINATION AND LEARNING IN DYNAMIC GLOBAL GAMES: EXPERIMENTAL EVIDENCE
Olga Shurchkov, MIT

 

 

MAXIMUM EFFORT IN THE MINIMUM EFFORT GAME
Dirk Engelmann, Royal Holloway, University of London
Co-Author: Hans Normann, Royal Holloway, University of London

 


15:00 - 17:00

EXCHANGE RATE PASS THROUGH (EEA)
Chairperson: Osbat Chiara, European Central Bank

Room U-12


 

ASSESSING THE STRUCTURAL VAR APPROACH TO EXCHANGE RATE PASS-THROUGH
Ida Wolden Bache, Norges Bank (Central Bank of Norway)

 

 

HAS EXCHANGE RATE PASS-THROUGH REALLY DECLINED? EVIDENCE FROM CANADA
Hafedh Bouakez, HEC Montreal
Co-Author: Nooman Rebei, Bank of Canada

 

 

QUALITY SWITCHING AND EXCHANGE RATE PASS-THROUGH
Aurora Ascione, European University Insitute

 

 

SECTORAL EXCHANGE RATE PASS-THROUGH IN THE EURO AREA
Osbat Chiara, European Central Bank
Co-Author: Martin Wagner, Institute for Advanced Studies VIenna

 


15:00 - 17:00

GLOBALIZATION, FINANCIAL DEVELOPMENT AND THE MACROECONOMY (EEA)
Chairperson: Fernando Broner, CREI and Universitat Pompeu Fabra

Room U-15


 

GLOBALIZATION, TRADE UNIONS AND AGGREGATE DEMAND EFFECTS
Nicolas Schutz, Paris-Jourdan Sciences Economiques (PSE)

 

 

FINANCIAL DEVELOPMENT AND WAGE INEQUALITY: THEORY AND EVIDENCE FROM US STATES
Malhar Nabar, Wellesley College
Co-Author: Michal Jerzmanowski, Clemson University

 

 

RETHINKING THE EFFECTS OF FINANCIAL LIBERALIZATION
Fernando Broner, CREI and Universitat Pompeu Fabra
Co-Author: Jaume Ventura, CREI and Universitat Pompeu Fabra

 

 

TECHNOLOGY TRADE IN ECONOMIC DEVELOPMENT
Jose Luis Groizard, Universitat de les Illes Balears
Co-Author: Matthias Busse, Hamburg Institute of International Economics HWWI

 


15:00 - 17:00

BUSINESS CYCLE: VOLATILITY AND MONETARY POLICY (EEA)
Chairperson: Pooyan Amir Ahmadi, Humboldt University Berlin

Room U-17


 

THE GREAT DEPRESSION IN BELGIUM FROM A NEOCLASSICAL PERSPECTIVE
Luca Pensieroso, Université Catholique de Louvain

 

 

FIRM DEFAULT AND AGGREGATE FLUCTUATIONS
Kasper Roszbach, Sveriges Riksbank (Bank of Sweden)
Co-Authors: Tor Jacobson, Sveriges Riksbank (Bank of Sweden), Jesper Lindé, Sveriges Riksbank (Bank of Sweden) and Rikard Nilsson, Svenska Handelsbanken

 

 

INTEREST RATES AND REAL BUSINESS CYCLES IN EMERGING MARKETS
S. Tolga Tiryaki, University of York

 

 

MONETARY POLICY DURING THE GREAT DEPRESSION: A BAYESIAN FAVAR APPROACH
Pooyan Amir Ahmadi, Humboldt University Berlin
Co-Author: Albrecht Ritschl, Humboldt University Berlin

 


15:00 - 17:00

CORRUPTION (EEA)
Chairperson: Ricardo Paredes, Pontificia Universidad Católica de Chile

Room U-7


 

COMPETITION IN BUREAUCRACY AND CORRUPTION
Mikhail Drugov, University of Oxford, Nuffield College

 

 

UNCOORDINATED CORRUPTION AS AN EQUILIBRIUM PHENOMENON
Hans Zenger, University of Munich

 

 

CORRUPTION, GOVERNMENT SIZE AND GROWTH IN ECONOMIES WITH AN INFORMAL SECTOR
António Antunes, Banco de Portugal

 

 

JUDICIAL AUCTIONS: BETTER WITHOUT PROTECTION?
Ricardo Paredes, Pontificia Universidad Católica de Chile
Co-Authors: Andrés Crisosto, Universidad Católica de Chile and Phillipe Marti, Universidad Católica de Chile

 


15:00 - 17:00

CURRENT ACCOUNT ADJUSTMENT AND VALUATION EFFECTS (EEA)
Chairperson: Mathias Hoffmann, University of Cologne

Room U-11


 

ASSET PRICES, EXCHANGE RATES AND THE CURRENT ACCOUNT
Luciana Juvenal, University of Warwick
Co-Authors: Marcel Fratzscher, ECB and Lucio Sarno, Warwick Business School

 

 

GLOBAL IMBALANCES AND THE US CURRENT ACCOUNT: DO SUPPLY-SIDE CHANGES LESSEN THE EXCHANGE RATE ADJUSTEMENT?
Michael Fidora, European Central Bank
Co-Authors: Philipp Engler, Freie Universität Berlin and Christian Thimann, European Central Bank

 

 

CURRENT ACCOUNT REVERSALS AND LONG TERM IMBALANCES: APPLICATION TO THE CENTRAL AND EASTERN EUROPEAN COUNTRIES
Olena Havrylchyk, CEPII
Co-Author: Kenza Benhima, CREST, University of Paris X - Nanterre

 

 

COMPOSITION OF FOREIGN ASSETS: THE VALUATION-EFFECT AND MONETARY POLICY
Mathias Hoffmann, University of Cologne
Co-Author: Caroline Schmidt, ETH Zürich

 


15:00 - 17:00

POVERTY AND SEGREGATION (EEA)
Chairperson: Angelo Mele, University of Illinois at Urbana Champaign

Room U-14


 

A DUAL-REGIME UTILITY MODEL FOR POVERTY ANALYSIS
Biancotti Claudia, Bank of Italy

 

 

CHANGES IN DETERMINANTS OF POVERTY AND INEQUALITY DURING TRANSITION: HOUSEHOLD SURVEY EVIDENCE FROM UKRAINE
Natalia Weißhaar, DIW Berlin and Humboldt University, Berlin
Co-Authors: Tilman Brück, DIW Berlin, Humboldt University Berlin and IZA, Alexander M. Danzer, DIW Berlin and Humboldt University Berlin and Alexander Muravyev, European University Institute and DIW Berlin

 

 

THE EFFECT OF SEGREGATION AND SPATIAL MISMATCH ON UNEMPLOYMENT: EVIDENCE FROM FRANCE
Harris Selod, Paris School of Economics
Co-Author: Laurent Gobillon, INED

 

 

HOW TO MEASURE SEGREGATION
Angelo Mele, University of Illinois at Urbana Champaign

 


15:00 - 17:00

SOVEREIGN RISK (EEA)
Chairperson: David Hauner, International Monetary Fund

Room A-5


 

DETERMINANTS OF SOVEREIGN RISK: MACROECONOMIC FUNDAMENTALS AND THE PRICING OF SOVEREIGN DEBT
Yves Nosbusch, London School of Economics
Co-Author: Jens Hilscher, Brandeis University

 

 

EMERGING DEBT MARKETS: WHAT DO CORRELATIONS AND SPREADS TELL US?
Irina Bunda, Laboratoire d''Economie d''Orléans (LEO)
Co-Authors: A. Javier Hamann, International Monetary Fund (IMF-IEO) and Subir Lall, International Monetary Fund (IMF-RES)

 

 

COORDINATION CLAUSES AND THE PRICE OF SOVEREIGN DEBT
Ossip Robert Huhnerbein, Munich Graduate School of Economics & Financial Markets Group, London School of Economics and Political Science

 

 

POLICY CREDIBILITY AND SOVEREIGN CREDIT: THE CASE OF THE NEW EU MEMBER STATES
David Hauner, International Monetary Fund
Co-Authors: Jiri Jonas, IMF and Manmohan S. Kumar, IMF

 


15:00 - 17:00

RISK, IDEAS AND ENTREPRENEURSHIP (EEA)
Chairperson: Satyajit Chatterjee, Federal Reserve Bank of Philadelphia

Room U-2


 

RISKY EARNINGS AND ENTREPRENEURIAL CHOICE – AN ESTIMATED MODEL
Frank Fossen, DIW Berlin

 

 

HOUSEHOLD WEALTH AND ENTREPRENEURSHIP: IS THERE A LINK?
Silvia Magri, Bank of Italy

 

 

SPINOFFS AND THE MARKET FOR IDEAS
Satyajit Chatterjee, Federal Reserve Bank of Philadelphia
Co-Author: Esteban Rossi-Hansberg, Princeton University

 


15:00 - 17:00

CONTRIBUTED SESSIONS 2
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

AUCTIONS I (ESEM TAE)
Chairperson: Aner sela, Ben-Gurion University

Room B-4


 

AFFILIATION, EQUILIBRIUM EXISTENCE AND THE REVENUE RANKING OF AUCTIONS
Luciano de Castro, Universidad Carlos III de Madrid

 

 

AN EXPERIMENT ON AUCTION FEVER
Marion Ott, University of Karlsruhe
Co-Authors: Susanne Abele, Miami University, Oxford and Karl-Martin Ehrhart, University of Karlsruhe

 

 

THE MORE THE MERRIER? NUMBER OF BIDDERS, RENEGOTIATION AND WINNER’S CURSE IN TOLL ROAD CONCESSIONS
Laure Athias, University of Paris 1 Sorbonne - ATOM
Co-Author: Antonio Nunez, LET - University of Lyon

 

 

COMPETING AUCTIONS WITH ENDOGENOUS QUANTITIES
Aner sela, Ben-Gurion University
Co-Authors: Benny Moldovanu, Bonn University and Xianwen Shi, Yale University

 


15:00 - 17:00

COMPETITION IN NETWORKS AND TWO-SIDED MARKETS (ESEM TAE)
Chairperson: Andras Niedermayer, University of Bern

Room B-1


 

COMPETING TRANSPORT NETWORKS
Marco van der Leij, University of Alicante

 

 

PRICE DISCRIMINATION IN TWO-SIDED MARKETS
Konstantinos Serfes, Drexel University
Co-Author: Qihong Liu, University of Oklahoma

 

 

IS THERE COMPETITION IN CROSS-BORDER TRADE OF ELECTRICITY? THEORY AND EVIDENCE FROM EUROPEAN ELECTRICITY MARKETS
Georg Gebhardt, University of Munich
Co-Author: Felix Hoeffler, Max Planck Institute for Research on Collective Goods

 

 

INTERMEDIATION WITH PERCENTAGE FEES
Andras Niedermayer, University of Bern
Co-Author: Simon Loertscher, University of Melbourne

 


15:00 - 17:00

CONTRACT THEORY I (ESEM TAE)
Chairperson: Helmut Bester, Free University Berlin

Room B-13


 

INFORMED PRINCIPAL IN QUASI-LINEAR ENVIRONMENTS
Tymofiy Mylovanov, University of Bonn
Co-Author: Thomas Troger, University of Bonn

 

 

MULTIATTRIBUTE SCREENING
Thomas Weber, Stanford University

 

 

THE STRATEGIC VALUE OF INCOMPLETE CONTRACTS FOR COMPETING HIERARCHIES
Salvatore Piccolo, University of Salerno and GREMAQ (Toulouse)
Co-Author: David Martimort,

 

 

DELEGATION AND INCENTIVES
Helmut Bester, Free University Berlin
Co-Author: Daniel Krähmer, Free University Berlin

 


15:00 - 17:00

ENVIRONMENTAL ECONOMICS (ESEM TAE)
Chairperson: Alan Woodland, University of Sydney

Room B-2


 

HABIT FORMATION IN AN ENDOGENOUS GROWTH MODEL WITH POLLUTION ABATEMENT ACTIVITIES
Masako Ikefuji, Osaka University

 

 

INNOVATION WITHOUT MAGIC BULLETS: STOCK POLLUTION AND R&D SEQUENCES
Grischa Perino, University of Heidelberg
Co-Author: Timo Goeschl, University of Heidelberg

 

 

ON THE OPTIMAL TAXATION OF AN EXHAUSTIBLE RESOURCE UNDER MONOPOLISTIC EXTRACTION
Julien Daubanes, University of Toulouse 1 (MPSE and LERNA)

 

 

THE SHORT AND LONG RUN EFFECTS OF TIED FOREIGN AID ON POLLUTION ABATEMENT, POLLUTION AND EMPLOYMENT: A PILOT MODEL
Alan Woodland, University of Sydney
Co-Author: Albert Schweinberger, University of Konstanz

 


15:00 - 17:00

EXPERIMENTAL ECONOMICS (ESEM TAE)
Chairperson: Gianni De Fraja, University of Leicester

Room B-5


 

COOPERATION OVER FINITE HORIZONS: A THEORY AND EXPERIMENTS
Attila Ambrus, Harvard University

 

 

DUMBING DOWN RATIONAL PLAYERS: LEARNING AND TEACHING IN AN EXPERIMENTAL GAME
Antoine Terracol, Equippe, Université Lille 3
Co-Author: Jonathan Vaksmann, Université Paris 1 Panthéon-Sorbonne

 

 

IS THE VEIL OF IGNORANCE ONLY A CONCEPT ABOUT RISK? AN EXPERIMENT
Hannah Hoerisch, University of Munich, Seminar for Economic Theory

 

 

THE ORIGIN OF UTILITY
Gianni De Fraja, University of Leicester

 


15:00 - 17:00

LAW AND ECONOMICS (ESEM TAE)
Chairperson: Giovanni Immordino, CSEF, University of Salerno

Room B-6


 

BREAKING THE LAW WHEN OTHERS DO: A MODEL OF LAW ENFORCEMENT WITH EXTERNALITIES
Rosa Ferrer, Vanderbilt University

 

 

ECONOMIC ANALYSIS OF PATENT LAW EXEMPTION FOR RESEARCH ON A PATENTED INNOVATION
Sadao Nagaoka, Hitotsubashi University
Co-Author: Reiko Aoki, Hitotsubashi University

 

 

LAWYER ADVICE AND EVIDENCE DISCLOSURE
Sergei Severinov, Duke University

 

 

NORM FLEXIBILITY AND PRIVATE INITIATIVE
Giovanni Immordino, CSEF, University of Salerno
Co-Authors: Marco Pagano, University of Naples Federico II and Michele Polo, Bocconi University

 


15:00 - 17:00

LEARNING IN GAMES (ESEM TAE)
Chairperson: Ulrich Berger, Vienna University of Economics and Business Administration

Room B-3


 

EFFICIENT DYNAMIC COORDINATION WITH PRIVATE LEARNING
Jakub Steiner, University of Edinburgh
Co-Authors: Amil Dasgupta, LSE and Colin Stewart, Yale

 

 

LEARNING ACROSS GAMES
Friederike Mengel, University of Alicante

 


 

 

LEARNING WITHIN A MARKOVIAN ENVIRONMENT
Rivas Javier, European University Insititute

 

 

BROWN’S ORIGINAL FICTITIOUS PLAY
Ulrich Berger, Vienna University of Economics and Business Administration

 


15:00 - 17:00

MACROECONOMICS AND HETEROGENEITY (ESEM TAE)
Chairperson: Junko Doi, Kansai University

Room B-11


 

ENDOGENOUS MARKET INCOMPLETENESS, ENTREPRENEURIAL RISK AND THE BUSINESS CYCLE
Ander Perez, London School of Economics

 

 

A MODEL OF CREDIT LIMITS AND BANKRUPTCY WITH APPLICATIONS TO WELFARE AND INDEBTEDNESS
Xavier Mateos-Planas, University of Southampton

 

 

CREDIT CONSTRAINTS, ENTREPRENEURIAL ACTIVITY AND OCCUPATIONAL CHOICE UNDER RISK
Maik Heinemann, University of Lüneburg
Co-Author: Christiane Clemens, University of Magdeburg

 

 

A VARIETY EXPANSION MODEL WITH RENT SEEKING ACTIVITIES
Junko Doi, Kansai University
Co-Author: Zhiwei Cen, Kyoto Sangyo University

 


15:00 - 17:00

PENSION SYSTEMS AND GROWTH (ESEM TAE)
Chairperson: Andreas Irmen, University of Heidelberg

Room U-16


 

ALTERNATIVE PENSION SYSTEMS AND GROWTH
Michael Kaganovich, Indiana.University
Co-Author: Itzhak Zilcha, Tel Aviv University

 

 

EQUILIBRIUM PRICE DYNAMICS IN AN OVERLAPPING-GENERATIONS EXCHANGE ECONOMY
Paulo Brito, Technical University of Lisbon
Co-Author: Rui Dilao, Technical University of Lisbon

 

 

THE ROLE OF PENSION SYSTEMS AND DEMOGRAPHIC CHANGE ON ASSET PRICES AND CAPITAL FORMATION
Marten Hillebrand, Bielefeld University

 

 

POPULATION, PENSIONS, AND ENDOGENOUS ECONOMIC GROWTH
Andreas Irmen, University of Heidelberg
Co-Author: Burkhard Heer, Free University of Bolzano

 


15:00 - 17:00

CONTRIBUTED SESSIONS 2
ESEM: Econometrics and Empirical Economics


 



 

15:00 - 17:00

APPLIED MICROECONOMETRICS (ESEM EEE)
Chairperson: Matti Sarvimaki, Government Institute for Economic Research

Room B-7


 

INDIVIDUAL VS. AGGREGATE INCOME ELASTICITIES FOR HETEROGENEOUS POPULATIONS
Michal Paluch, Bonn Graduate School of Economic, University of Bonn
Co-Authors: Werner Hildenbrand, University of Bonn and Alois Kneip, University of Bonn

 

 

WOMEN'S ECONOMIC GAINS FROM EMPLOYMENT, MARRIAGE AND COHABITATION
Alita Nandi,  Institute for Social and Economic Research, University of Essex

 

 

CHANGES IN QUALITY-ADJUSTED COLLEGE PREMIUM IN THE UNITED STATES, 1960-2000
Simon Lee, UCL
Co-Author: Pedro Carneiro, UCL

 

 

LONG-TERM EFFECTS OF FORCED MIGRATION
Matti Sarvimaki, Government Institute for Economic Research
Co-Authors: Markus Jantti, Abo Akademi University and Roope Uusitalo, Helsinki School of Economics

 


15:00 - 17:00

ASSET PRICING MODELS (ESEM EEE)
Chairperson: Emanuel Moench, University of Pennsylvania

Room B-9


 

PRESENT VALUE THEORY IMPLIES COBREAKING
Hans-Martin Krolzig, University of Kent
Co-Author: Juan Toro, Transmarket Group

 

 

THE EFFICIENCY OF RISK SHARING BETWEEN UK AND US: ROBUST ESTIMATION AND CALIBRATION UNDER MARKET INCOMPLETENESS
Marcelo Fernandes, Queen Mary, University of London
Co-Author: Jose Gil Vieira Filho, University of Chicago

 

 

ASSET ALLOCATION BY PENALIZED LEAST SQUARES
Simone Manganelli, European Central Bank

 


15:00 - 17:00

ASYMPTOTIC THEORY (ESEM EEE)
Chairperson: Rickard Sandberg, Stockholm School of Economics

Room B-10


 

CONVERGENCE TO STOCHASTIC POWER INTEGRALS FOR DEPENDENT HETEROGENEOUS PROCESSES
Rickard Sandberg, Stockholm School of Economics

 

 

THE ASYMPTOTICS OF LONG-RUN PARAMETERS
Robert de Jong, Ohio State University

 

 

EFFICIENT M-ESTIMATORS WITH AUXILIARY INFORMATION
Francesco Bravo, University of York

 

 

MAXIMIZATION BY PARTS IN EXTREMUM ESTIMATION
Sergio Pastorello, Dipartimento di Scienze Economiche, Università di Bologna
Co-Authors: Yanqin Fan, Department of Economics, Vanderbilt University, Nashville, Tennessee and Eric Renault, North Carolina

 


15:00 - 17:00

COINTEGRATION 1 (ESEM EEE)
Chairperson: Peter Boswijk, University of Amsterdam

Room B-12


 

A SINGLE-EQUATION COINTEGRATION ESTIMATOR ROBUST TO VARIANCE BREAKS
Nikolaos Kourogenis, Department of Banking and Financial Management, University of Piraeus
Co-Authors: Ekaterini Panopoulou, Department of Statistics & Insurance Science, University of Piraeus and Nikitas Pittis, Department of Banking and Financial Management, University of Piraeus

 

 

SHIFTS IN THE UNEMPLOYMENT RATE: THE ROLE OF PRODUCTIVITY GROWTH
Sven Schreiber, Goethe University Frankfurt

 

 

TESTING FOR COINTEGRATION WITH NONSTATIONARY VOLATILITY
Peter Boswijk, University of Amsterdam
Co-Author: Yang Zu, University of Amsterdam

 


15:00 - 17:00

CONTINUOUS TIME (ESEM EEE)
Chairperson: Christian Pigorsch, LMU Munich

Room U-2/A


 

A MULTIVARIATE GENERALIZATION OF THE ORNSTEIN-UHLENBECK STOCHASTIC VOLATILITY MODEL
Christian Pigorsch, LMU Munich
Co-Author: Robert Stelzer, Munich University of Technology

 

 

TESTING HOMOGENEITY OF TIME-CONTINUOUS RATING TRANSITIONS
Rafael Weissbach, University of Dortmund
Co-Authors: Claudia Lawrenz, WestLB AG and Patrick Tschiersch, WestLB AG

 

 

OPTION PRICING UNDER STOCHASTIC VOLATILITY AND TRADING VOLUME
Sadayuki Ono, University of York, Department of Economics and Related Studies

 


15:00 - 17:00

ECONOMETRICS OF BUSINESS CYCLE (ESEM EEE)
Chairperson: Guido Bulligan, Bank of Italy

Room A-6


 

LEADING INDICATORS FOR THE EURO AREA BUSINESS CYCLE
Guido Bulligan, Bank of Italy
Co-Authors: Michele Caivano, , Fabrizio Calabrese, and silvio colarossi,

 

 

THE EFFECTS OF A GOVERNMENT EXPENDITURE SHOCK
Bernardino Adao, Banco de Portugal

 

 

SIGN RESTRICTIONS ARE MORE ROBUST THAN LONG-RUN RESTRICTIONS IN STRUCTURAL VARS
Zsolt Darvas, Corvinus University of Budapest

 

 

THE LONG SHADOW OF “AUSTROKEYNESIANISM”? PUBLIC DEBT SUSTAINABILITY IN AUSTRIA
Reinhard Neck, Klagenfurt University
Co-Author: Gottfried Haber, Klagenfurt University

 


15:00 - 17:00

FINANCIAL ECONOMETRICS 1 (ESEM EEE)
Chairperson: Keiichi Kubota, Musashi University

Room A-4


 

INFORMAION BASED TRADE, PIN VARIABLE, AND PORTFOLIO STYLE DIFFERENCES: EVIDENCE FROM TOKYO STOCK EXCHANGE FIRMS
Keiichi Kubota, Musashi University
Co-Author: Hitoshi Takehara, Waseda University

 

 

DYNAMIC FACTOR ANALYSIS OF INDUSTRY SECTOR DEFAULT RATES AND IMPLICATION FOR PORTFOLIO CREDIT RISK MODELLING
Andrea Cipollini, University of Essex
Co-Author: Giuseppe Missaglia, BNL Rome

 

 

PORTFOLIO SELECTION WITH ESTIMATION RISK: A TEST BASED APPROACH
Bertille Antoine, University of Montreal, CIREQ

 


15:00 - 17:00

METHODOLOGY (ESEM EEE)
Chairperson: Cecilia Frale, Univeristà degli Studi di Roma Tor Vergata

Room A-2


 

THE FIRST STAGE IN HENDRY'S REDUCTION THEORY REVISITED
Genaro Sucarrat, U. Carlos III de Madrid (Economics Dept.)

 

 

CONSISTENCY IN AGGREGATION AND QUASILINEAR INDEX NUMBERS
Heikki Pursiainen, University of Helsinki

 

 

MAXIMUM LIKELIHOOD ESTIMATION OF THE SYMMETRIC AND ASYMMETRIC
Bottazzi Giulio, LEM Scuola Superiore Sant'Anna
Co-Author: Angelo Secchi, LEM Scuola Superiore Sant'Anna

 

 

NEW PROPOSALS FOR THE QUANTIFICATION OF QUALITATIVE SURVEY DATA
Cecilia Frale, Univeristà degli Studi di Roma Tor Vergata
Co-Author: Tommaso Proietti, Università degli Studi di Roma Tor Vergata

 

 



15:00 - 17:00

NONPARAMETRIC METHODS 2 (ESEM EEE)
Chairperson: Miguel Delgado, UC3 Madrid

Room B-8


 

A NEW CLASS OF DISTRIBUTION-FREE TESTS FOR TIME SERIES MODELS SPECIFICATION
Miguel Delgado, UC3 Madrid
Co-Author: Carlos Velasco, UC3 Madrid

 

 

ONE FOR ALL AND ALL FOR ONE: DIMENSION REDUCTION FOR REGRESSION CHECKS
Pascal Lavergne, Simon Fraser University
Co-Author: VALENTIN PATILEA,

 

 

BLOCK BOOTSTRAP HAC ROBUST TESTS: THE SOPHISTICATION OF THE NAIVE BOOTSTRAP
Silvia Goncalves, Universite de Montreal
Co-Authors: Silvia Goncalves, Universite de Montreal and Timothy Vogelsang, Michigan State University

 

 

NONPARAMETRIC IDENTIFICATION OF SURVEY DESIGN EFFECTS WHEN INDIVIDUALS ARE BOUNDEDLY RATIONAL
Stefan Hoderlein, Mannheim University
Co-Author: Joachim Winter, Munich University

 


15:00 - 17:00

VOLATILITY 1 (ESEM EEE)
Chairperson: 

Room A-7


 

SEMIPARAMETRIC APPROACHES TO THE PREDICTION OF CONDITIONAL CORRELATION MATRICES IN FINANCE
Vasyl Golosnoy, University of Kiel
Co-Author: Helmut Herwartz, Kiel University

 

 

TESTING FOR VOLATILITY INTERACTIONS IN THE CONSTANT CONDITIONAL CORRELATION GARCH MODEL
Tomoaki Nakatani, Stockholm School of Economics
Co-Author: Timo Teräsvirta, University of Aarhus

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

ECONOMETRIC SOCIETY  PRESIDENTIAL ADDRESS

HOTEL INTERCONTINENTAL


17:30 - 19:30

PRESIDENTIAL ADDRESS (ECONOMETRIC SOCIETY)
Chairperson: Richard Blundell, University College London

Room InterContinental


 

RISK OVER LONG HORIZONS: AN ECONOMETRIC PERSPECTIVE
Lars Peter Hansen, University of Chicago – President, Econometric Society

 

 


19:30 - 20:30

ECONOMETRIC SOCIETY  MEMBER MEETING

HOTEL INTERCONTINENTAL  



 

WEDNESDAY 29 AUGUST 2007


09:00 - 11:00

INVITED SESSIONS 2
EEA


 


09:00 - 11:00

DYNAMIC POLITICAL ECONOMY (EEA)
Chairperson: Daron Acemoglu, MIT

Room A-6


 

POLITICAL ECONOMY AND LONG-RUN TAXATION OF CAPITAL
Daron Acemoglu, MIT
Co-Authors: Mike Golosov, MIT and Oleg Tsyvinski, Federal Reserve Bank of Minneapolis

 

 

A DYNAMIC THEORY OF LEGISLATIVE POLICY MAKING
Marco Battaglini, Princeton University and Steve Coate, Cornell University

 

 

ON THE ROLE OF COMMITMENT IN A DYNAMIC MELTZER-RICHARD ECONOMY
Per Krusell , University of Rochester and IIES
Co-Authors: Marina Azzimonti, University of Iowa and Eva de Francisco, University of Rochester

 


09:00 - 11:00

APPLICATIONS IN ROBUST MECHANISM DESIGN (EEA)
Chairperson: Stephen E. Morris, Princeton University

Room A-5


 

IMPLEMENTATION WITH STRATEGIC SUBSTITUTES: THE ROLE OF THE COMMON PRIOR
Dirk Bergemann, Yale

 

 

ROBUST PRICING UNDER LARGE UNCERTAINTY
Karl Schlag, European University Institute

 

 

ROBUST BILATERAL TRADE AND MEDIATED BARGAINING?
Clara Ponsati, Institut d'Anàlisi Econòmica - CSIC

 


09:00 - 11:00

DEBT, DEFAULT AND THE ROLE OF SECONDARY MARKETS (EEA)
Chairperson: Jaume Ventura, CREI and Universitat Pompeu Fabra

Room A-4


 

EMERGING MARKET LIQUIDITY AND CRISES
Sergio Schmukler, The World Bank

 

 

RANDOM ENFORCEMENT TECHNOLOGY AND SECONDARY MARKETS
Fernando Broner, CREI and Universitat Pompeu Fabra, Alberto Martin, CREI and Universitat Pompeu Fabra and Jaume Ventura, CREI and Universitat Pompeu Fabra

 


09:00 - 11:00

DECLINING MACROECONOMIC PREDICTABILITY (EEA)
Chairperson: Lucrezia Reichlin, ECB

Room U-9


 

FEDERAL RESERVE INFOMRATION DURING THE GREAT MODERATION

D''Agostino Antonello, Central Bank and Financial Services Authority of Ireland
Co-Author: Karl Whelan, University college London

 

 

EXPLAINING THE GREAT MODERATION: IT IS NOT CHOCKS!
Lucrezia Reichlin, ECB
Co-Authors: Domenico Giannone, ECARES-ULB and CEPR and Michele Lenza, European Central Bank

 

 

DECLINING PREDICTABILITY: CROSS-COUNTRY EVIDENCE
Luca Benati, European Central Bank

 


09:00 - 11:00

INVITED SESSIONS 2
ESEM: Theoretical and Applied Economics


 


09:00 - 11:00

POLITICAL ECONOMY (ESEM TAE)
Chairperson: Salvador Barbera, Universitat Autonoma de Barcelona

Room B-4


 

INFORMATION AGGREGATION AND COMMUNICATION IN COMMITTEES
David Austen-Smith, Northwestern University

 

 

LISTENING TO VOTERS: THE WELFARE EFFECTS OF PARTICIPATORY DEMOCRACY
Enriqueta Aragonès, Institut d'Anàlisi Econòmica, CSIC

 


09:00 - 11:00

INVITED SESSIONS 2
ESEM: Econometrics and Empirical Economics


 


09:00 - 11:00

FINANCIAL ECONOMETRICS (ESEM EEE)
Chairperson: Neil Shephard, Nuffield College, Oxford

Room B-13


 

REALIZED VOLATILITY: CURRENT THEMES AND NEW DIRECTIONS
Tim Bollerslev, Duke University

 

 

DECO: DYNAMIC EQUICORRELATION MODELS FOR LARGE CORRELATION MATRICES
Robert F Engle, Department of Finance, Stern School of Business
Co-Author: Bryan Kelly

 


11:00 - 11:30

COFFEE BREAK


 


11:30 - 13:30

CONTRIBUTED SESSIONS 3
EEA


 


11:30 - 13:30

IO COMPETITION (EEA)
Chairperson: Gregor Zoettl, University of Cologne

Room U-21


 

PRODUCT AND PRICE COMPETITION IN A CROSS CITY MODEL
Hae Won Jung, Korea Advanced Institute of Science and Technology (KAIST)
Co-Author: S. Hun Seog, KAIST

 

 

COMPETITION AND REPUTATION
Paolo Vanin, University of Padua

 

 

DYNAMIC DUOPOLY WITH INATTENTIVE FIRMS
Ludwig Reßner, University of Munich
Co-Author: Markus Reisinger, University of Munich

 

 

CAPACITY CHOICE UNDER UNCERTAINTY: MARKET STRUCTURE AND WELFARE IMPLICATIONS
Gregor Zoettl, University of Cologne

 


11:30 - 13:30

IO: STANDARDS AND NETWORKS (EEA)
Chairperson: Pio Baake, German Institute for Economic Research

Room U-19


 

PRICING STRATEGIES IN SOFTWARE PLATFORMS: VIDEO CONSOLES VS. OPERATING SYSTEMS
María-Fernanda Viecens, Universidad Carlos III de Madrid

 

 

ON PLATFORMS, INCOMPLETE CONTRACTS, AND OPEN SOURCE SOFTWARE
Andras Niedermayer, University of Bern

 

 

COOPERATIVE VERSUS COMPETITIVE STANDARD SETTING
Jan Philipp Bender, University of Munich (LMU)
Co-Author: Klaus Schmidt, Munich

 

 

NEW NETWORKS, COMPETITION AND REGULATION
Pio Baake, German Institute for Economic Research
Co-Author: Ulrich Kamecke, Humboldt-Universität zu Berlin

 


11:30 - 13:30

GROWTH II (EEA)
Chairperson: Daniel Cardona, Universitat de les Illes Balears

Room U-6


 

FINITE HORIZON, EXTERNALITIES, AND GROWTH
Ronald Wendner, University of Graz, Austria

 

 

RETHINKING THE CONCEPT OF LONG-RUN ECONOMIC GROWTH
Christian Groth, University of Copenhagen
Co-Authors: Karl-Josef Koch, University of Siegen and Thomas M. Steger, ETH, Zürich

 

 

THREE THEOREMS ON GROWTH AND COMPETITION
Christian Bauer, Bavarian Graduate Program in Economics and Regensburg University
Co-Author: Lutz Arnold, University of Regensburg

 

 

COST-BASED MODELS OF ENDOGENOUS GROWTH
Daniel Cardona, Universitat de les Illes Balears
Co-Author: Fernando Sánchez-Losada, Universitat de Barcelona

 


11:30 - 13:30

BANK AND MONETARY POLICY (EEA)
Chairperson: De Fiore Fiorella, European Central Bank

Room U-1


 

IS THERE A BANK LENDING CHANNEL IN HUNGARY? EVIDENCE FROM BANK PANEL DATA
Anna Naszodi, National Bank of Hungary and Central European University
Co-Authors: Csilla Horvath, Nijmegen School of Management and Judit Kreko, National Bank of Hungary

 

 

UNDERSTANDING THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND MONETARY POLICY
Javier Gomez Biscarri, IESE - Universidad de Navarra
Co-Authors: Luis Carranza, Universidad de Navarra and Jose Enrique Galdon-Sanchez, Universidad Publica de Navarra

 

 

THE ROLE OF INTERBANK MARKETS IN MONETARY POLICY: A MODEL WITH RATIONING
Jose Jorge, CEMPRE, Faculdade Economia, Universidade Porto
Co-Author: Xavier Freixas, Universitat Pompeu Fabra, CEPR

 

 

BANK FINANCE VERSUS BOND FINANCE: IMPLICATIONS FOR MONETARY POLICY
De Fiore Fiorella, European Central Bank
Co-Author: Harald Uhlig, Humboldt University Berlin

 


11:30 - 13:30

INTERNATIONAL FINANCE (EEA)
Chairperson: Peter Benczur, National Bank of Hungary and Central European University

Room U-16


 

HOW DOES PRIVATE FOREIGN BORROWING AFFECT THE RISK OF SOVEREIGN DEFAULT IN DEVELOPING COUNTRIES?
Philipp Harms, RWTH Aachen University
Co-Author: Oya Celasun, International Monetary Fund, Research Dept.

 

 

THE IMPACT OF POLITICAL RISK ON SOVEREIGN BOND SPREADS - EVIDENCE FROM LATIN AMERICA
Christoph Moser, University of Mainz

 

 

DETERMINANTS OF SPREADS ON SOVEREIGN BANK LOANS: THE ROLE OF CREDIT HISTORY
Peter Benczur, National Bank of Hungary and Central European University
Co-Author: Cosmin Ilut, Northwestern University

 

 

OPTIMAL SOVEREIGN DEBT WRITE-DOWNS
Kannika Thampanishvong, University of St Andrews
Co-Author: Sayantan Ghosal,

 


11:30 - 13:30

HEALTH II (EEA)
Chairperson: Catherine Schaumans, K.U.Leuven

Room U-3


 

PUBLIC SERVICES AND LIFE SATISFACTION
Jani-Petri Laamanen, University of Tampere
Co-Author: Kaisa Kotakorpi, University of Tampere

 

 

FINANCING NUSING HOME CARE: NEW EVIDENCE ON SPEND-DOWN BEHAVIOR
Norma Coe, Tilburg University

 

 

THE POLITICAL ECONOMY OF STATE HEALTH EXPENDITURE IN INDIA
Juan Pedro Schmid, NADEL, ETH Zurich
Co-Author: Sonia Bhalotra, Department of Economics, University of Bristol

 

 

ENTRY AND REGULATION - EVIDENCE FROM HEALTH CARE PROFESSIONS
Catherine Schaumans, K.U.Leuven
Co-Author: Frank Verboven, K.U.Leuven

 


11:30 - 13:30

AGENCY (EEA)
Chairperson: Kouroche Vafai, Université Paris Descartes

Room U-14


 

EXISTENCE OF EQUILIBRIUM IN COMMON AGENCY GAMES WITH ADVERSE SELECTION
Guilherme Carmona, Universidade Nova de Lisboa
Co-Author: José Fajardo, IBMEC - Rio de Janeiro

 

 

MORALS AND CORRUPTION
Kouroche Vafai, Université Paris Descartes

 

 

ON MULTIPLE-PRINCIPAL MULTIPLE-AGENT MODELS OF MORAL HAZARD
Gwenael Piaser, Universite du Luxembourg
Co-Authors: Eloisa Campioni, Luiss - G. Carli University, Andrea Attar, IDEI, University of Toulouse I, and Uday Rajan, Ross School of Business, University of Michigan

 

 

 

 


11:30 - 13:30

TOPICS IN DYNAMIC POLITICAL ECONOMY (EEA)
Chairperson: Fabrizio Zilibotti, IEW University of Zurich

Room U-13


 

MACROECONOMIC CONSEQUENCES OF DISTRIBUTIONAL CONFLICTS
Andreas Schaefer, University of Zurich
Co-Author: Thomas M. Steger, ETH, Zürich

 

 

POLITICAL DISAGREEMENT, LACK OF COMMITMENT AND THE LEVEL OF DEBT
Davide Debortoli, Universitat Pompeu Fabra
Co-Author: Ricardo Nunes, Universitat Pompeu Fabra

 

 

TRANSFERS VERSUS INVESTMENT: THE POLITICS OF INTERGENERATIONAL REDISTRIBUTION AND GROWTH
Dirk Niepelt, Study Center Gerzensee & IIES, Stockholm
Co-Author: Martin Gonzalez-Eiras, Universidad de San Andres

 

 

ROTTEN PARENTS AND DISCIPLINED CHILDREN: A POLITICO-ECONOMIC THEORY OF PUBLIC EXPENDITURE AND DEBT.
Fabrizio Zilibotti, IEW University of Zurich
Co-Authors: Zheng Song, Department of Economics, Fudan University and Kjetil Storesletten, University of Oslo

 


11:30 - 13:30

PERSONNEL ECONOMICS (EEA)
Chairperson: Luis Santos-Pinto, Universidade Nova de Lisboa

Room U-10


 

COMPENSATION SCHEMES AND TECHNOLOGY CHARACTERISTICS: AN EXAMINATION OF A CLASS OF LABOR CONTRACTS
Marie-Christine Thaize Challier, CNRS, University UPMF, Grenoble

 

 

DO FINANCIAL INCENTIVES FOR FIRMS PROMOTE EMPLOYMENT OF DISABLED WORKERS? A REGRESSION DISCONTINUITY APPROACH
Jean-Philippe Wuellrich, University of Zurich
Co-Authors: Rafael Lalive, University of Lausanne and Josef Zweimüller, University of Zurich

 

 

PRIVATISATION AND CHANGES IN THE WAGE STRUCTURE EVIDENCE FROM FIRM PERSONNEL RECORDS
Patrick Puhani, Leibniz University of Hannover
Co-Author: Blaise Melly, SIAW, University of St. Gallen

 

 

POSITIVE SELF-IMAGE IN TOURNAMENTS
Luis Santos-Pinto, Universidade Nova de Lisboa

 


11:30 - 13:30

ECONOMICS OF EDUCATION III (EEA)
Chairperson: Ahmed Tritah, CEPII and European University Institute

Room U-7


 

FAMILY INCOME AND CHILDREN'S EDUCATION: USING THE NORWEGIAN OIL BOOM AS A NATURAL EXPERIMENT.
Katrine Løken

 

 

FAMILY BACKGROUND AND SECONDARY EDUCATIONAL CHOICES: CHANGES OVER FIVE DANISH COHORTS
Martin D Munk, The Danish National Institute of Social Research
Co-Author: James McIntosh, Concordia University, Department of. Economics

 

 

SOCIAL MOBILITY AND EDUCATIONAL FINANCING IN GENERAL EQUILIBRIUM
Ahmed Tritah, CEPII and European University Institute

 


11:30 - 13:30

EXPERIMENTS II (EEA)
Chairperson: Martin Brown, Swiss National Bank

Room U-8

 



 

NEUROBIOLOGICAL FOUNDATIONS OF SOCIAL COMPARISON
Armin Falk, University of Bonn
Co-Authors: Thomas Dohmen, IZA/Bonn, Christian Elger, University of Bonn, Klaus Fliessbach, University of Bonn, Uwe Sunde, IZA Bonn, Peter Trautner, University of Bonn and Bernd Weber, University of Bonn

 

 

ORGANISATIONAL STRUCTURE, COMMUNICATION AND GROUP ETHICS: AN EXPERIMENTAL STUDY
Matthew Ellman, Institut d''Analisi Economic
Co-Author: Pezanis-Christou Paul, Universite Louis Pasteur

 

 

ARE RISK AVERSION AND IMPATIENCE RELATED TO COGNITIVE
Thomas Dohmen, IZA/Bonn
Co-Authors: Armin Falk, University of Bonn, David Huffman, IZA/Bonn and Uwe Sunde, IZA Bonn

 

 

THE EMERGENCE OF INFORMATION SHARING IN CREDIT MARKETS
Martin Brown, Swiss National Bank
Co-Author: Christian Zehnder

 


11:30 - 13:30

BUSINESS CYCLE: NEWS, WELFARE (EEA)
Chairperson: Tom Krebs, Mannheim University

Room U-17


 

NEWS AND BUSINESS CYCLE COMOVEMENT
Michael Lamla, ETH Zurich
Co-Authors: Sarah Rupprecht, ETH Zurich and Jan-Egbert Sturm, KOF, ETH Zurich

 

 

BUSINESS CYCLE STABILIZATION OR GROWTH: WHICH POLICY ADVICE?
Romain Houssa, KULeuven

 

 

JOB DISPLACEMENT RISK AND THE COST OF BUSINESS CYCLES
Tom Krebs, Mannheim University

 


11:30 - 13:30

CRIME (EEA)
Chairperson: Eleonora Patacchini, University of Roma "La Sapienza"

Room U-22


 

CORPORATE TAX EVASION - A CASE FOR SPECIALISTS
Vilen Lipatov, European University Institute

 

 

A THEORY OF "CRYING WOLF": THE ECONOMICS OF MONEY LAUNDERING ENFORCEMENT
Elod Takats, International Monetary Fund

 

 

UNEMPLOYMENT AND GANG CRIME: COULD PROSPERITY BACKFIRE?
Panu Poutvaara, University of Helsinki
Co-Author: Mikael Priks, Center for Economic Studies, University of Munich

 


 

 

ETHNICITY AND SPATIAL EXTERNALITIES IN CRIME
Eleonora Patacchini, University of Roma "La Sapienza"
Co-Author: Yves Zenou, Research Institute of Industrial Economics

 


11:30 - 13:30

CURRENT ACCOUNT DETERMINANTS AND ADJUSTMENT (EEA)
Chairperson: Andrea Ferrero, Federal Reserve Bank of New York

Room U-15


 

CURRENT ACCOUNTS IN THE EURO AREA: AN INTERTEMPORAL APPROACH
Angel Gavilan, Bank of Spain
Co-Author: Jose Campa, Iese Business School

 

 

INTERNAL AND EXTERNAL CURRENT ACCOUNT BALANCES IN THE EURO AREA
Birgit Schmitz, University of Bonn
Co-Authors: Alan Ahearne, and Juergen von Hagen, University of Bonn and Indiana University

 

 

PATTERNS OF CURRENT ACCOUNT ADJUSTMENT – INSIGHTS FROM PAST EXPERIENCE
Thierry Bracke, European Central Bank
Co-Author: Bernardina Algieri, University of Calabria and ZEW, Bonn

 

 

THE LONG RUN DETERMINANTS OF THE U.S. TRADE DEFICIT
Andrea Ferrero, Federal Reserve Bank of New York

 


11:30 - 13:30

ECONOMICS AND DEMOCRACY (EEA)
Chairperson: Stefan Voigt, Philipps University Marburg

Room U-12


 

RENTS, SHOCKS AND DEMOCRACY
Diego Scalise, International Monetary Fund
Co-Author: Giuliano Paola, Harvard University

 

 

PARTICIPATION AND VOTING BEHAVIOR IN A DIRECT DEMOCRACY: A STRUCTURAL MODEL OF MIGRATION POLICY IN SWITZERLAND
Tobias Müller, University of Geneva
Co-Author: Jaya Krishnakumar, University of Geneva

 

 

ELECTORAL UNCERTAINTY AND THE STABILITY OF COALITION GOVERNMENTS
Daniela Iorio, University of Pennsylvania

 

 

THE ECONOMIC EFFECTS OF DIRECT DEMOCRACY - A FIRST GLOBAL ASSESSMENT
Stefan Voigt, Philipps University Marburg
Co-Author: Jens Müller, Philipps University Marburg

 


11:30 - 13:30

ENVIRONMENT II (EEA)
Chairperson: David Pérez-Castrillo, Universitat Autonoma de Barcelona

Room U-11



 

 

LOST IN TRANSMISSION? STOCK MARKET IMPACTS OF THE 2006 EUROPEAN GAS CRISIS
Ulrich Oberndorfer, Centre for European Economic Research (ZEW)
Co-Authors: Janina Ketterer, ifo Institute for Economic Research and Dirk Ulbricht, ifo Institute for Economic Research

 

 

ENVIRONMENTALLY ORIENTED ENERGY POLICY AND STOCK RETURNS: AN EMPIRICAL ANALYSIS
Andreas Ziegler, Center for Corporate Responsibility and Sustainability (CCRS) at the University of Zurich
Co-Author: Ulrich Oberndorfer, Centre for European Economic Research (ZEW)

 

 

THE TIME-INCONSISTENCY OF ALTERNATIVE ENERGY POLICY
Thierry Vignolo, European University Institute
Co-Authors: Agnès d'Artigues, CREDEN and Jacques Percebois, CREDEN

 

 

OPTIMAL MONITORING TO IMPLEMENT CLEAN TECHNOLOGIES WHEN POLLUTION IS RANDOM
David Pérez-Castrillo, Universitat Autonoma de Barcelona
Co-Author: Inés Macho-Stadler, Universitat Autonoma de Barcelone

 


11:30 - 13:30

FDI, OUTSOURCING AND TRADE (EEA)
Chairperson: Elhanan Helpman, Harvard University

Room U-9


 

OF LEADERS, LAGGARDS AND THEIR MOTIVES FOR FDI
Roger Smeets, Radboud University Nijmegen
Co-Author: Maarten Bosker, Utrecht School of Economics

 

 

EXPORTS VERSUS HORIZONTAL FDI WITH PROFIT SHIFTING
Oscar Amerighi, CORE-UCL (Belgium) and DSE, University of Bologna (Italy)
Co-Author: Susana Peralta, Faculdade de Economia, Universidade Nova de Lisboa, CEPR and CORE-UCL

 

 

CONTRACTUAL FRICTIONS AND GLOBAL SOURCING
Elhanan Helpman, Harvard University
Co-Author: Pol Antras, Harvard University

 

 

ON THE INDUSTRY DYNAMICS OF OFFSHORINGS
Alireza Naghavi, University of Modena and Reggio Emilia
Co-Author: Gianmarco Ottaviano, University of Bologna

 


11:30 - 13:30

TRADE POLICY (EEA)
Chairperson: Peter Egger, CES ifo

Room U-2



 

 

CAN A TARIFF ON FOREIGN COMPETITION HARM THE DOMESTIC INDUSTRY?
Stefan Lutz, NERA Economic Consulting

 

 

SIZE MATTERS? COUNTERINTUITIVE FINDINGS ON EXPORT SUBSIDIES
Christian Helmers, Wolfson College, Oxford University
Co-Author: Natalia Trofimenko, Kiel Institute for World Economy

 

 

DECOUPLED PAYMENT COMPENSATION IN EU AGRO-FOOD INDUSTRY
Jianyu Yu, University of Toulouse 1

 

 

HOW BAD IS ANTIDUMPING?: EVIDENCE FROM PANEL DATA
Peter Egger, CES ifo
Co-Author: Douglas R. Nelson, Tulane University

 


11:30 - 13:30

PURCHASING POWER PARITY (EEA)
Chairperson: George Alessandria, Federal Reserve Bank of Philadelphia

Room U-18


 

THE DOLLAR EXCHANGE RATE, ADJUSTMENT TO PPP, AND THE INTEREST RATE DIFFERENTIAL
Michael Froemmel, University of Hannover

 

 

A SHORT HISTORY OF PRICE LEVEL CONVERGENCE IN EUROPE: A RECONSTRUCTION
Riemer Faber, Erasmus University Rotterdam
Co-Author: A.C.J. Stokman, De Nederlandsche Bank

 

 

AN ASSESSMENT OF THE TRENDS IN INTERNATIONAL PRICE COMPETITIVENESS AMONG EMU COUNTRIES
Christoph Fischer, Deutsche Bundesbank

 

 

VIOLATING PPP
George Alessandria, Federal Reserve Bank of Philadelphia
Co-Author: Joseph Kaboski, Ohio State University

 


11:30 - 13:30

LABOR MARKET: ACTIVE LABOR PROGRAMME (EEA)
Chairperson: Ulf Rinne, IZA Bonn

Room U-20


 

EVALUATING ACTIVE LABOR MARKET PROGRAMS IN ROMANIA
Nuria Rodriguez Planas, Universitat Autònoma de Barcelona

 

 

THREAT EFFECT OF THE LABOUR MARKET PROGRAMS IN DENMARK: EVIDENCE FROM A NATURAL EXPERIMENT
Ott Toomet, University of Tartu

 

 

TOO BAD TO BENEFIT? EFFECT HETEROGENEITY OF PUBLICLY FINANCED TRAINING IN GERMANY
Ulf Rinne, IZA Bonn
Co-Authors: Marc Schneider, IZA Bonn and Arne Uhlendorff, DIW Berlin, IZA

 


11:30 - 13:30

CONTRIBUTED SESSIONS 3
ESEM: Theoretical and Applied Economics


 


11:30 - 13:30

AUCTIONS II (ESEM TAE)
Chairperson: Tri Vi Dang, University of Mannheim

Room B-4


 

CONTINGENT AUCTIONS WITH ALLOCATIVE EXTERNALITIES: VICKREY VERSUS THE AUSUBEL-MILGROM PROXY AUCTION
Laurent Lamy, CREST-LEI

 

 

DO AUCTIONS SELECT EFFICIENT FIRMS?
Vladimir Karamychev, Erasmus University Rotterdam
Co-Author: Maarten Janssen, Erasmus University Rotterdam

 

 

ENGLISH AUCTIONS WITH RESALE: AN EXPERIMENTAL STUDY
Sotirios Georganas, Bonn Graduate School of Economics

 

 

INFORMATION ACQUISITION IN DOUBLE AUCTIONS
Tri Vi Dang, University of Mannheim

 


11:30 - 13:30

CORPORATE CONTROL (ESEM TAE)
Chairperson: Paul Milgrom, Stanford University

Room B-1


 

IS ENTREPRENEURIAL SUCCESS PREDICTABLE? AN EX-ANTE ANALYSIS OF THE CHARACTER-BASED APPROACH
Alexander Kritikos, Gesellschaft für Arbeitsmarktaktivierung
Co-Author: Marco Caliendo, DIW Berlin

 

 

A THEORY OF DIVIDEND SMOOTHING
Ohad Kadan, Washington University in St. Louis
Co-Authors: Ilan Guttman, Stanford and Eugene Kandel, Hebrew University

 

 

SHAREHOLDER INTERVENTION AND MANAGERIAL INCENTIVES
Pablo Ruiz-Verdu, Universidad Carlos III de Madrid

 

 

WHEN SHOULD CONTROL BE SHARED?
Paul Milgrom, Stanford University
Co-Authors: Eva Meyersson Milgrom, Stanford University and Ravi Singh, Harvard Business School

 


11:30 - 13:30

EXPERIMENTS (ESEM TAE)
Chairperson: Carsten Schmidt, University of Mannheim

Room B-2


 

PARTICIPATION AND STRENGTH OF INFLUENCE IN A POWER-TO-TAKE-EXPERIMENT
Vanessa Mertins, Saarland University
Co-Author: Max Albert

 

 

PUTTING RECIPROCITY TO WORK
Sebastian Kube, University of Karlsruhe
Co-Authors: Michel Marechal, University of St. Gallen and Clemens Puppe, University of Karlsruhe

 

 

DO CONSUMERS PAY VOLUNTARILY? THE CASE OF ONLINE MUSIC
Tobias Regner, University of Jena
Co-Author: Javier Barria, Imperial College London

 

 

ASSET BUBBLES WITHOUT DIVIDENDS - AN EXPERIMENT
Carsten Schmidt, University of Mannheim
Co-Authors: Jörg Oechssler, University of Heidelberg and Wendelin Schnedler, Department of Economics, University of Heidelberg

 


11:30 - 13:30

FINANCIAL INTERMEDIATION (ESEM TAE)
Chairperson: Michael Zaehringer, Bonn Graduate School of Economics

Room B-5


 

THE HOMOGENIZATION OF THE FINANCIAL SYSTEM AND FINANCIAL CRISES
Wolf Wagner, Tilburg University

 

 

WHY FINANCIAL INTERMEDIATIONS
Tianxi Wang, London School of Economics

 

 

BANK LOANS: DO INNOVATIVE FIRMS FACE SPECIFIC FINANCIAL CONSTRAINTS?
Frédérique Savignac, Banque de France
Co-Author: Patrick SEVESTRE, Université Paris Panthéon Sorbonne and Banque de France

 

 

HOW TO SELL A COMPANY? INFORMATION REVELATION THROUGH PARTIAL IPO
Michael Zaehringer, Bonn Graduate School of Economics
Co-Author: Sotirios Georganas, Bonn Graduate School of Economics

 


11:30 - 13:30

GAME THEORY I (ESEM TAE)
Chairperson: Myrna Wooders, Vanderbilt University

Room B-6


 

BEHAVIORAL EQUILIBRIUM IN ECONOMIES WITH ADVERSE SELECTION
Ignacio Esponda, NYU

 

 

EVOLUTION AND CORRELATED EQUILIBRIUM
Lars Koch, Bonn Graduate School of Economics

 

 

INFERENTIAL NAIVETY IN GAMES
Erik Eyster, LSE
Co-Author: Matthew Rabin, UC Berkeley

 

 

CONFORMITY, EQUITY AND CORRELATED EQUILIBRIUM
Myrna Wooders, Vanderbilt University
Co-Author: Edward Cartwright, University of Kent

 


11:30 - 13:30

GROWTH (ESEM TAE)
Chairperson: Katrin Tinn, London School of Economics

Room B-8



 

 

DISCRETE AND CONTINUOUS DYNAMICS IN A GROWTH MODEL
Alexis Anagnostopoulos, Department of Economics, Stony Brook University
Co-Author: Chryssi Giannitsarou, Faculty of Economics, University of Cambridge

 

 

KNOWLEDGE CODIFICATION AND ENDOGENOUS GROWTH
Maik T. Schneider, CER-ETH -- Center of Economic Research at ETH Zurich

 

 

CAPITAL-SKILL COMPLEMENTARITY AND STEADY-STATE GROWTH
Lilia Maliar, Universidad de Alicante
Co-Author: Serguei Maliar, University of Alicante

 

 

EQUITY MIS-PRICING AND R&D GROWTH
Katrin Tinn, London School of Economics
Co-Author: Evangelia Vourvachaki, LSE, CEP

 


11:30 - 13:30

MACROECONOMICS AND EQUILIBRIUM (ESEM TAE)
Chairperson: Serguei Maliar, University of Alicante

Room B-11


 

ON ''SECTORAL SUPPLY FUNCTIONS" AND RETURNS TO SCALE IN A WORLD WITH HETEROGENEOUS GOODS
Jean-Pierre Drugeon, Centre d''Economie de la Sorbonne, Centre National de la Recherche Scientifique

 

 

ON THE FAILURE OF SAY'S LAW IN A WALRASIAN DYNAMICS WITH TECHNICAL PROGRESS AND MYOPIA
Celine Rochon, University of Oxford - Said Business School
Co-Author: Gael Giraud, Universite Paris 1

 

 

CONSTANTINIDES' AGGREGATION IN THE MACROECONOMY
Serguei Maliar, University of Alicante
Co-Author: Lilia Maliar, Universidad de Alicante

 


11:30 - 13:30

VOTING (ESEM TAE)
Chairperson: Jean-Francois Laslier, Ecole Polytechnique, Paris

Room B-3


 

CAMPAIGNS AS COORDINATION DEVICES
Mehmet Ekmekci, Northwestern University, Kellogg MEDS

 

 

CORPORATE CONTROL AND THE STOCK MARKET
Klaus Ritzberger, Vienna Graduate School of Finance and Institute for Advanced Studies, Vienna
Co-Author: Stefano Demichelis, University of Pavia

 

 

GARBLED ELECTIONS
Thomas Troger, University of Bonn

 

 

INCENTIVES FOR INFORMATIVE VOTING
Jean-Francois Laslier, Ecole Polytechnique, Paris
Co-Author: Jorgen Weibull, Stockholm School of Economics

 

 


 

11:30 - 13:30

GENERAL EQUILIBRIUM AND FINANCE (ESEM TAE)
Chairperson:

Room B-13


 

EQUILIBRIUM STORAGE IN A MARKOV ECONOMY
Bertrand Villeneuve, CREST-Paris and U Tours
Co-Author: Anna Creti, Universita Bocconi

 

 

ENDOGENOUS PROVISION OF RISKLESS ASSET AND THE SOCIAL COSTS OF VOLATILITY
Hiroyuki Nakata, University of Essex

 

 

THE STRUCTURE OF EQUILIBRIUM IN AN ASSET MARKET WITH VARIABLE SUPPLY
Manfred Nermuth, University of Vienna

 

 

DYNAMIC TRADING, ASSET PRICES, AND BUBBLES
Xavier Vives, IESE Business School
Co-Author: Giovanni Cespa, Università di Salerno, and CEPR

 


11:30 - 13:30

CONTRIBUTED SESSIONS 3
ESEM: Econometrics and Empirical Economics


 


11:30 - 13:30

AUCTIONS (ESEM EEE)
Chairperson: Erwann Sbai, University of Auckland

Room B-7


 

APPLICATION OF A LOCAL IDENTIFICATION PROCEDURE TO SOME EMPIRICAL GAMES
Erwann Sbai, University of Auckland

 

 

 

 

 

THE MINERAL RIGHTS MODEL IS NONPARAMETRICALLY IDENTIFIED
Philippe Fevrier, Crest-Lei

 


11:30 - 13:30

BANK AND MONETARY POLICY 2 (ESEM EEE)
Chairperson: Philip Liu, Australian National University

Room B-9


 

AN INFLATED ORDERED PROBIT MODEL OF MONETARY POLICY: EVIDENCE FROM MPC VOTING DATA
Christopher Spencer, University of Surrey
Co-Authors: Robert Brooks, Monash University and Mark Harris, Monash University

 

 

IDENTIFYING MONETARY POLICY SHOCKS VIA CHANGES IN VOLATILITY
Helmut Luetkepohl, European University Institute Florence
Co-Author: Markku Lanne, University of Helsinki

 


 

 

MEASURING THE NUMERAIRE AND TESTING FOR ITS NEUTRALITY
Ricardo Reis, Princeton University
Co-Author: Mark Watson, Princeton University

 

 

STABILIZING THE AUSTRALIAN BUSINESS CYCLE: GOOD LUCK OR GOOD POLICY?
Philip Liu, Australian National University

 


11:30 - 13:30

BAYESIAN METHODS (ESEM EEE)
Chairperson: Eduardo Ley, The World Bank

Room B-10


 

BAYESIAN VARIABLE SELECTION WITH APPLICATIONS TO GROWTH REGRESSION
Eduardo Ley, The World Bank
Co-Author: Mark F.J. Steel, University of Warwick

 

 

ESTIMATING THE NATURAL RATES IN THE NEW KEYNESIAN FRAMEWORK
Hilde Bjørnland, Norwegian School of Management (BI)
Co-Authors: Kai Leitemo, Norwegian School of Management and Bank of Finland and Junior Maih, Norges Bank

 

 

SEQUENTIAL MONTE CARLO SAMPLERS FOR BAYESIAN DSGE MODELS
Drew Creal, Vrije Universiteit Amsterdam

 

 

JOB MOBILITY IN PORTUGAL: A BAYESIAN STUDY WITH MATCHED WORKER-FIRM DATA
Guillaume Horny, BETA-CNRS
Co-Authors: Rute Mendes, Tinbergen Institute and Free University Amsterdam and Gerard van den Berg, Free University, Amsterdam

 


11:30 - 13:30

COINTEGRATION 2 (ESEM EEE)
Chairperson: Marc Francke, Vrije Universiteit Amsterdam

Room B-12


 

MARGINAL LIKELIHOOD BASED TESTS ON COINTEGRATION IN THE ENGLE-GRANGER MODEL
Marc Francke, Vrije Universiteit Amsterdam
Co-Author: Aart de Vos, FEWEB/ Free University

 

 

ESTIMATING AND FORECASTING IN VAR MODELS WITH COINTEGRATION AND WEAK FORM OF COMMON CYCLICAL FEATURES
Carlos Enrique Carrasco Gutiérrez, Fundação Getulio Vargas - RJ - Brazil
Co-Authors: Reinaldo Castro Souza, DEE-PUC-Rio and Osmani Teixeira de Carvalho Guillén, Central Bank of Brazil and IBMEC-RJ

 

 

REDUCED RANK REGRESSIONS AND THE POINCARE SEPARATION THEOREM
Michael Massmann, University of Bonn

 

 

PANEL COINTEGRATION ESTIMATES OF THE EFFECT OF INTEREST RATES, CAPITAL GOODS PRICES, AND TAXES ON THE CAPITAL STOCK
Marcel-Cristian Voia, Carleton University
Co-Author: Huntley Schaller, Carleton University

 


11:30 - 13:30

EXCHANGE RATES 1 (ESEM EEE)
Chairperson: Shigeru Iwata, University of Kansas

Room A-7


 

FOREIGN EXCHANGE INTERVENTIONS AT ZERO INTEREST RATES
Shigeru Iwata, University of Kansas
Co-Author: Shu Wu, University of Kansas

 

 

ON THE PURCHASING POWER PARITY FOR LATIN-AMERICAN COUNTRIES
Jose Angelo Divino, Catholic U niversity of Brasilia
Co-Authors: Joaquim Andrade, University of Brasilia and Vladimir Teles, Getulio Vargas Foundation - Sao Paulo

 

 

UK NET INVESTMENT INCOME AND THE POUND STERLING
Panagiotis Konstantinou, Department of Economics, University of Macedonia, Economic and Social Sciences
Co-Author: Jens Sondergaard, Johns Hopkins University, Department of International Economics (SAIS)

 

 

UNINSURABLE RISK, EQUITY PREMIUM AND CURRENCY PREMIUM
Kenji Wada, Keio University

Co-authors: Parantap Basu, Durham University,

Andrei Semenov, York University

 


11:30 - 13:30

INFLATION 1 (ESEM EEE)
Chairperson: Oleksandr Nikolsko-Rzhevskyy, University of Houston

Room A-3


 

TAYLOR RULES AND REAL-TIME DATA: A TALE OF TWO COUNTRIES AND ONE EXCHANGE RATE
Oleksandr Nikolsko-Rzhevskyy, University of Houston
Co-Authors: Tetyana Molodtsova, University of Houston and David Papell, University of Houston

 

 

THE NATURAL RATE OF INTEREST IN BRAZIL BETWEEN 1999 AND 2005
Marcelo Portugal, Universidade Federal do Rio Grande do Sul, Brazil
Co-Author: Paulo Barcellos, Banco Cooperativo SICREDI S/A

 

 

ESTIMATING TIME-VARYING POLICY NEUTRAL RATE IN REAL TIME
Roman Horvath, Czech National Bank

 

 

 

COMBINING DISAGGREGATE FORECASTS VERSUS DISAGGREGATE INFORMATION TO FORECAST AN AGGREGATE

Kirstin Hubrich, European Central Bank

Co-author: David F. Hendry, Department of Economics, University of Oxford.

 

 


11:30 - 13:30

MICROECONOMETRICS (ESEM EEE)
Chairperson: Nicolas de Roos, University of Sydney

Room A-5


 

DECISION MAKING UNDER RISK IN DEAL OR NO DEAL
Nicolas de Roos, University of Sydney

 

 

CONFIDENCE SETS FOR PARTIALLY IDENTIFIED PARAMETERS THAT SATISFY A FINITE NUMBER OF MOMENT INEQUALITIES
Adam Rosen, University College London

 


 

 

THE (MIS)SPECIFICATION OF DISCRETE TIME DURATION MODELS WITH UNOBSERVED HETEROGENEITY: A MONTE-CARLO STUDY
Cheti Nicoletti, ISER, University of Essex
Co-Author: Concetta Rondinelli, Institute of Quantitative Methods, Bocconi University, Milan

 

 

EXPLAINING INDIVIDUAL RESPONSE USING AGGREGATED DATA
Bram van Dijk, Econometric Institute
Co-Author: Richard Paap, Erasmus University Rotterdam

 


11:30 - 13:30

SEMI- AND NON-PARAMETRIC METHODS (ESEM EEE)
Chairperson: Olivier Scaillet, Geneva

Room A-2


 

TIKHONOV REGULARISATION FOR FUNCTIONAL MINIMUM DISTANCE ESTIMATORS
Patrick Gagliardini, University of Lugano
Co-Author: Olivier Scaillet, Geneva

 

 

SEMIPARAMETRIC ESTIMATION OF A BINARY RESPONSE MODEL WITH A CHANGE-POINT DUE TO A COVARIATE THRESHOLD
Myung Hwan Seo, London School of Economics
Co-Author: Simon Lee, UCL

 

 

SEMIPARAMETRIC ESTIMATION OF BINARY RESPONSE MODELS WITH ENDOGENOUS REGRESSORS
Christoph Rothe, University of Mannheim

 

 

NONPARAMETRIC PREWHITENING ESTIMATORS FOR CONDITIONAL QUANTILES
Aman Ullah, University of California,Riverside
Co-Author: Liangjun Su, Peking University

 


11:30 - 13:30

VOLATILITY 2 (ESEM EEE)
Chairperson: Walter Distaso, Imperial College

Room A-6


 

REALIZED VOLATILITY FORECASTING AND MARKET MICROSTRUCTURE NOISE
Nour Meddahi, Imperial College, London
Co-Authors: Torben Andersen, Northwestern University, Torben Andersen, Northwestern University, Tim Bollerslev, duke university, Tim Bollerslev, Duke University and Tim Bollerslev, Duke University

 

 

ROBUSTNESS OF FOURIER ESTIMATOR OF INTEGRATED VOLATILITY IN THE PRESENCE OF MICROSTRUCTURE NOISE
Maria Elvira Mancino, University of Firenze

 

 

SUBSAMPLED REALISED KERNELS
Peter Hansen, Stanford
Co-Authors: Ole E Barndorff-Nielsen, Asger Lunde, Aarhus Business School and Shephard Neil, University of Oxford

 


 

 

TESTING FOR ONE FACTOR MODELS VERSUS STOCHASTIC VOLATILITY MODELS, IN THE PRESENCE OF JUMPS
Walter Distaso, Imperial College
Co-Author: Valentina Corradi, Warwick

 


11:30 - 13:30

PANEL DATA 1 (ESEM EEE)
Chairperson: Martin Wagner, Institute for Advanced Studies VIenna

Room U-5


 

A JOINT SERIAL CORRELATION TEST FOR LINEAR PANEL DATA MODELS
Takashi Yamagata, University of Cambridge

 

 

A ROBUST BOOTSTRAP APPROACH TO THE HAUSMAN TEST IN STATIONARY PANEL DATA MODELS
Helmut Herwartz, Kiel University
Co-Author: Michael H. Neumann, University of Jena

 

 

CONSISTENT ESTIMATION, MODEL SELECTION AND AVERAGING OF DYNAMIC PANEL DATA MODELS WITH FIXED EFFECT
Guangjie Li, Economics Department, University of Leicester

 

 

THE PERFORMANCE OF PANEL COINTEGRATION METHODS: RESULTS FROM A LARGE SCALE SIMULATION STUDY
Martin Wagner, Institute for Advanced Studies Vienna
Co-Author: Jaroslava Hlouskova, Institute for Advanced Studies, Vienna

 


11:30 - 13:30

WORKSHOP ON SUCCESFUL PUBLISHING
EEA


 


11:30 - 13:30

WORKSHOP ON SUCCESSFUL PUBLISHING (EEA/ESEM TAE/ESEM EEE)
Chairperson: Monika Schnitzer, University of Munich and CEPR

Room U-4



11:30 - 13:30

BOOK PRESENTATION BY JANOS KORNAI


 


11:30 - 13:30

BY FORCE OF THOUGHT. JANOS KORNAI'S AUTOBIOGRAPHY

Chairperson: Attila Chikan, Corvinus University

Room A-4


 

BY FORCE OF THOUGHT. KORNAI'S AUTOBIOGRAPHY
Jan Fidrmuc, Brunel University and Assar Lindbeck, Stockholm University

 


 


13:30 - 15:00

LUNCH


 


15:00 - 17:00

CONTRIBUTED SESSIONS 4
EEA


 


15:00 - 17:00

IO COMPETITION POLICY (EEA)
Chairperson: Jan Bouckaert, University of Antwerp

Room U-21


 

ON SELLER ESTIMATES AND BUYER RETURNS
Flavio Toxvaerd, University of Cambridge

 

 

 

 

 

COMPETITION VS REGULATION IN MOBILE TELECOMMUNICATIONS
Thomas Tangerås, Research Institute of Industrial Economics
Co-Author: Johan Stennek, Research Institute of Industrial Economics

 

 

BANNING PRICE DISCRIMINATION BY DOMINANT FIRMS
Jan Bouckaert, University of Antwerp
Co-Authors: Hans Degryse, Tilburg University and Theon van Dijk, lexonomics

 


15:00 - 17:00

IO: ORGANIZATION AND CONTRACTS I (EEA)
Chairperson: Andreas Roider, University of Bonn

Room U-20


 

THE THEORY OF COLLUSION UNDER FINANCIAL CONSTRAINTS
Yosuke Yasuda, Princeton University

 

 

DELEGATING A RISKY PROJECT TO A RISK-AVERSE AGENT
Andreas Roider, University of Bonn

 

 

WHAT DO CONSULTANTS DO?
Per Sonnerby, Stockholm School of Economics

 

 

CHEAP TALK WITH UNCERTAINTY: SOME LESSONS FOR BUREAUCRACIES
Hannes Felix Mueller, LSE

 


15:00 - 17:00

MONETARY AND FISCAL POLICY: THEORY (EEA)
Chairperson: Andreas Schabert, University Dortmund

Room U-18


 

OPTIMAL MONETARY AND FISCAL POLICY IN AN ECONOMY WITH NON-RICARDIAN AGENTS
Michal Horvath, CDMA, University of St Andrews

 


 

 

THE OPTIMUM QUANTITY OF MONEY REVISITED: DISTORTIONARY TAXATION IN A SEARCH MODEL OF MONEY
Moritz Ritter, University of Toronto

 

 

FISCAL POLICY IN A MONETARY ECONOMY WITH CAPITAL AND FINITE LIFETIME
Nicola Giammarioli, European Central Bank
Co-Authors: Barbara Annicchiarico, University of Rome Tor Vergata and Alessandro Piergallini, SOAS, University of London

 

 

MONETARY POLICY IMPLEMENTATION UNDER SOVEREIGN DEFAULT
Andreas Schabert, University Dortmund

 


15:00 - 17:00

INTERNATIONAL FINANCE: THE ROLE AND FUNCTIONS OF THE IMF (EEA)
Chairperson: Sébastien Wälti, Trinity College Dublin

Room U-16


 

 

 

 

GEOPOLITICS AND INTERNATIONAL ORGANIZATIONS AN EMPIRICAL STUDY ON IMF FACILITIES
Julien Reynaud, University Paris I Panthéon - Sorbonne
Co-Author: Julien Vauday, University Paris I - Panthéon Sorbonne

 

 

RECOVERING FROM BOND MARKET DISTRESS: DOMESTIC POLICIES AND IMF PROGRAMS
Sébastien Wälti, Trinity College Dublin

 


15:00 - 17:00

LABOR MARKET AND MACROECONOMIC DYNAMICS I (EEA)
Chairperson: Almut Balleer, University of Bonn

Room U-14


 

SECTORAL TRANSFORMATION, TURBULENCE, AND LABOUR MARKET DYNAMICS IN GERMANY
Ronald Bachmann, Bergische Universitaet Wuppertal
Co-Author: Michael C. Burda, Humboldt-Universität zu Berlin

 

 

ARE TURBULENCES OF SARGENT AND LJUNGQVIST CONSISTENT WITH LOWER AGGREGATE VOLATILITY?
Anna Batyra, Catholic University of Louvain

 

 

THE MACROECONOMIC DYNAMICS OF LABOR AND CAPITAL MARKET IMPERFECTIONS
Nicolas Petrosky-Nadeau, Université du Québec à Montréal

 

 

NEW EVIDENCE, OLD PUZZLES: TECHNOLOGY SHOCKS AND LABOR MARKET DYNAMICS
Almut Balleer, University of Bonn

 


15:00 - 17:00

EXCHANGE RATE VOLATILITY AND INTEREST DIFFERENTIALS (EEA)
Chairperson: Christian Conrad, ETH Zurich

Room U-11


 

WHAT DRIVES HETEROGENEITY IN FOREIGN EXCHANGE RATE EXPECTATIONS: DEEP INSIGHTS FROM A NEW SURVEY
Georg Stadtmann, WHU
Co-Author: Christian Dreger, German Institute for Economic Research (DIW) Berlin

 

 

CAN WE EXPLAIN INTERNATIONAL PRICING PUZZLES 'BY FORCE OF HABIT'?
Katrin Rabitsch, European University Institute

 

 

MODEL MISSPECIFICATION, LEARNING AND THE EXCHANGE RATE VOLATILITY PUZZLE
Vivien Lewis, Catholic University Leuven
Co-Author: Agnieszka Markiewicz, Catholic University Leuven

 

 

THE HIGH-FREQUENCY RESPONSE OF THE EUR-US DOLLAR EXCHANGE RATE TO ECB MONETARY POLICY ANNOUNCEMENTS
Christian Conrad, ETH Zurich
Co-Author: Michael Lamla, ETH Zurich

 


15:00 - 17:00

FDI AND THE MACROECONOMY (EEA)
Chairperson: Claudia Buch, University Tuebingen

Room U-7


 

FDI AND DOMESTIC INVESTMENT
Claudia Buch, University Tuebingen
Co-Authors: Christian Arndt, Institute for Applied Economic Research (IAW) and Monika Schnitzer, University Munich and CEPR

 

 

WHO IS AFRAID OF POLITICAL RISK? MULTINATIONAL FIRMS AND THEIR CHOICE OF CAPITAL STRUCTURE
Iris Kesternich, University of Munich
Co-Author: Monika Schnitzer, University Munich and CEPR

 

 

BANK CAPITAL REGULATION AND EFFICIENCY OF CORPORATE FOREIGN INVESTMENT
Achim Hauck, University of Leipzig
Co-Author: Diemo Dietrich, IWH Halle Institute for Economic Research

 


15:00 - 17:00

MONETARY AND FISCAL POLICY IN THE EURO AREA (EEA)
Chairperson: Reinhard Neck, Klagenfurt University

Room U-22


 

MONETARY AND FISCAL POLICY IN THE EMU: DOES FISCAL POLICY COORDINATION MATTER?
Chiara Forlati, Universitat Pompeu Fabra

 

 

FISCAL SUSTAINABILITY IN A NEW KEYNESIAN MODEL
Campbell Leith, University of Glasgow
Co-Author: Simon Wren-Lewis, University of Oxford

 

 

HOW TO BE WELL SHOD TO ABSORB SHOCKS? SHOCK SYNCHRONIZATION AND JOINING THE EURO ZONE
Natacha (Nathalie) Gilson, Catholic University of Mons (FUCaM)

 

 

ON THE MACROECONOMICS OF EURO AREA ENLARGEMENT
Reinhard Neck, Klagenfurt University
Co-Author: Gottfried Haber, Klagenfurt University

 


15:00 - 17:00

FORECASTING (EEA)
Chairperson: Saverio Simonelli, Università Federico II of Naples and European University Institute

Room U-10


 

FORECASTING INFLATION WITH GLOBAL LIQUIDITY
D''Agostino Antonello, Central Bank and Financial Services Authority of Ireland
Co-Author: Paolo Surico, Bank of England and Universita’ degli Studi di Bari

 

 

FORECASTING USING A LARGE NUMBER OF PREDICTORS: IS BAYESIAN REGRESSION A VALID ALTERNATIVE TO PRINCIPAL COMPONENTS?
Domenico Giannone, ECARES-ULB and CEPR
Co-Authors: Christine De Mol, Universite' Libre de Bruxelles, ECARES and Lucrezia Reichlin, ECB

 

 

RBC MODELS AT FORECASTING: EXPLORING THE REASONS BEHIND THEIR SUCCESS
David De Antonio Liedo, ECARES, Universite Libre de Bruxelles

 

 

DO SURVEYS HELP FORECASTING GDP IN REAL TIME? EVIDENCE FOR THE EURO AREA.
Saverio Simonelli, Università Federico II of Naples and European University Institute
Co-Authors: Domenico Giannone, ECARES-ULB and CEPR and Lucrezia Reichlin, ECB

 


15:00 - 17:00

ASSET PRICING I (EEA)
Chairperson: Rafal Raciborski, ECARES, Universite Libre de Bruxelles

Room U-17


 

ASSET PRICING WITH ADAPTIVE LEARNING
Eva Carceles-Poveda, Department of Economics, Stony Brook University
Co-Author: Chryssi Giannitsarou, Faculty of Economics, University of Cambridge

 

 

EXPLAINING ASSET PRICING PUZZLES IN THE RBC FRAMEWORK: A PROSPECT THEORY APPROACH
Rafal Raciborski, ECARES, Universite Libre de Bruxelles
Co-Author: Julia Lendvai, University of Namur

 


15:00 - 17:00

EMPIRICAL FINANCE (EEA)
Chairperson: Marianna Caccavaio, Bocconi University

Room U-15


 

DO DIFFERENCES IN INSTITUTIONAL AND LEGAL ENVIRONMENTS EXPLAIN CROSS-COUNTRY VARIATIONS IN IPO UNDERPRICING?
Christian Hopp, University of Konstanz
Co-Author: Axel Dreher, ETH Zurich

 

 

DO STOCK OPTION SCHEMES AFFECT FIRM TECHNICAL INEFFICIENCY? EVIDENCE FROM FINLAND
Mikko Mäkinen, ETLA

 

 

WHY MANAGERS HOLD SHARES OF THEIR FIRM: AN EMPIRICAL ANALYSIS
Ulf von Lilienfeld-Toal, University of Frankfurt
Co-Author: Stefan Ruenzi, University of Cologne - Centre for Financial Research (CFR)

 

 

ASSET FLOAT AND STOCK PRICES: EVIDENCE FROM THE CHINESE STOCK MARKET
Marianna Caccavaio, Bocconi University

 


15:00 - 17:00

TRADE LIBERALIZATION AND DOMESTIC POLICIES (EEA)
Chairperson: Thierry Tressel, International Monetary Fund

Room U-13


 

COMPETITIVE PRESSURE IN TRANSITION: A ROLE FOR TRADE AND COMPETITION POLICIES?
Rosen Marinov, Graduate Institute of International Studies

 

 

THE IMPACT OF REGULATIONS ON AGRICULTURAL TRADE: EVIDENCE FROM SPS AND TBT AGREEMENTS
Anne-Celia Disdier, INRA
Co-Authors: Lionel Fontagne, University Paris 1 and CEPII and Mondher MIMOUNI, International Trade Center (UNCTAD-WTO)

 

 

POLITICAL STASIS OR PROTECTIONIST RUT? POLICY MECHANISMS FOR TRADE REFORM IN A DEMOCRACY
Gerald Willmann, University of Kiel
Co-Author: Emily Blanchard, University of Virginia

 

 

DOES FINANCIAL GLOBALIZATION DISCIPLINE POLITICALLY CONNECTED FIRMS?
Thierry Tressel, International Monetary Fund

 


15:00 - 17:00

EUROPEAN BONDS AND MONEY MARKETS (EEA)
Chairperson: Sandra Schmidt, Centre for European Economic Research

Room U-12


 

VOLATILITY TRANSMISSION IN THE EUROPEAN MONEY MARKET
Christian Offermanns, Goethe University Frankfurt
Co-Author: Dieter Nautz, Goethe-Universität

 

 

THE EUROPEAN CENTRAL BANK'S MONETARY POLICY RULE IN AN AFFINE TERM STRUCTURE MODEL.
Maria Eleni Athanasopoulou, University of Southern California

 

 

WHAT EXPLAINS THE RISE IN THE EONIA SPREAD?
Sandra Schmidt, Centre for European Economic Research
Co-Author: Tobias Linzert, European Central Bank

 


15:00 - 17:00

FISCAL POLICY (EEA)
Chairperson: Christophe Kamps, ECB

Room U-8


 

REGIONAL GROWTH STRATEGIES: FISCAL VERSUS INSTITUTIONAL GOVERNMENTAL POLICIES
Susanne Soretz, University of Hannover
Co-Author: Ingrid Ott, University of Lueneburg

 

 

EFFECTIVENESS OF BAILOUTS IN THE EU
Elzbieta Glowicka, Wissenschaftszentrum Berlin

 

 

COMPETITION, RISK-SHIFTING, AND PUBLIC BAIL-OUT POLICIES
Hendrik Hakenes, Max Planck Institute for Research on Collective Goods
Co-Authors: Reint Gropp, European Central Bank and Isabel Schnabel, Max Planck Institute for Research on Collective Goods

 

 

DYNAMIC SCORING IN AN ESTIMATED DSGE MODEL OF THE US ECONOMY
Christophe Kamps, ECB

 


15:00 - 17:00

THEORY II (EEA)
Chairperson: Jakub Steiner, University of Edinburgh

Room U-19


 

AXIOMS FOR MINIMAX REGRET CHOICE CORRESPONDENCES
Joerg Stoye, New York University

 

 

THE EFFECT OF A MENTOR ON A JUNIOR EMPLOYEE'S SELF-ASSESSMENT
Silvia Dominguez Martinez, Erasmus University Rotterdam

 

 

COORDINATION OF MOBILE LABOR
Jakub Steiner, University of Edinburgh

 


15:00 - 17:00

MICROSTRUCTURE OF FINANCIAL MARKETS (EEA)
Chairperson: Laurence Lescourret, ESSEC Business School

Room U-6


 

TRADING VOLUME INFORMATION PRECISION TRANSACTION COSTS A CLOSER LOOK
Hua Cheng, University of Paris Dauphine

 

 

STOCK MARKET RETURN, ORDER FLOW AND FINANCIAL MARKET LINKAGES
Jan-Magnus Moberg, Norwegian School of Economics and Business Administration
Co-Author: Genaro Sucarrat, U. Carlos III de Madrid (Economics Dept.)

 

 

PREFERENCING, INTERNALIZATION, AND DEALER INVENTORY
Laurence Lescourret, ESSEC Business School
Co-Author: Christian Robert, CREST

 


15:00 - 17:00

TOPICS IN MONETARY POLICY AND DISINFLATION (EEA)
Chairperson: Ana Paula Martins, Universidade Católica Portuguesa

Room U-4



 

 

A STUDY ON ADMINISTERED PRICES AND OPTIMAL MONETARY POLICY: THE BRAZILAIN CASE
Mirta Bugarin, Universidade de Brasilia
Co-Author: Paulo Freitas, Brazilian Senate

 

 

REFERENCES IN WAGE READJUSTMENTS AND THE DISINFLATION COSTS
Andre Lunardelli, Universidade Federal de Goiás

 

 

NOMINAL TALES OF (FOR) REAL ECONOMIES: TASTE FOR INFLATION, TRADE MONEY, COLLATERALS AND RESERVE REQUIREMENTS
Ana Paula Martins, Universidade Católica Portuguesa

 


15:00 - 17:00

TOPICS IN GAME THEORY I (EEA)
Chairperson: Hannu Vartiainen, Yrjö Jahnsson Foundation

Room U-3


 

EQUILIBRIUM SOCIAL HIERARCHIES: A NON-COOPERATIVE ORDINAL STATUS GAME
Rein Haagsma, Wageningen University
Co-Author: Pierre Van Mouche,

 

 

MODELLING EQUILIBRIUM PLAY AS GOVERNED BY LIMITED FORESIGHT AND ANALOGY
Philipp C. Wichardt, Economic Theory 3, University of Bonn

 

 

HOW DO COALITIONS GET BUILT: EVIDENCE FROM AN EXTENSIVE FORM COALITION GAME WITH RENEGOTIATION & EXTERNALITIES.
Jeannette Brosig, University of Cologne
Co-Author: Gary Bolton, Penn State University

 

 

MULTILATERAL NON-COOPERATIVE BARGAINING IN A GENERAL UTILITY SPACE
Hannu Vartiainen, Yrjö Jahnsson Foundation
Co-Author: Klaus Kultti, University of Helsinki

 


15:00 - 17:00

PRICES AND PRICING (EEA)
Chairperson: Maarten Dossche, National Bank of Belgium - Ghent University

Room U-1


 

THE BEHAVIOUR OF PRODUCER PRICES: SOME EVIDENCE FROM THE FRENCH PPI MICRO DATA
Erwan Gautier, Banque de France

 

 

ESTIMATING THE EXTENT OF PRICE STICKINESS IN HUNGARY: A HAZARD-BASED APPROACH
Adam Reiff, National Bank of Hungary
Co-Author: Peter Gabriel, National Bank of Hungary, Central European University

 

 

MIND THE GAP: VOLATILE MEASUREMENT BIAS IN THE INDEX OF CONSUMER PRICES AND OPTIMAL MONETARY POLICY
Henning Weber, Humboldt University Berlin, Free University Berlin

 

 

THE KINKED DEMAND CURVE AND PRICE RIGIDITY: EVIDENCE FROM SCANNER DATA
Maarten Dossche, National Bank of Belgium - Ghent University
Co-Authors: Freddy Heylen, Ghent University and Dirk Van Den Poel, Ghent University 

 


15:00 - 17:00

WAGE DISPERSION (EEA)
Chairperson: Carlos Carrillo-Tudela, University of Leicester

Room U-9


 

WHY DO RUSSIANS EARN SO LITTLE: ESTONIA DURING THE POLITICAL AND ECONOMIC TRANSITION
Kristjan-Olari Leping, Tartu University Pärnu College
Co-Author: Ott Toomet, University of Tartu

 

 

WAGE INEQUALITIES DECOMPOSITION IN ARGENTINA: THE ROLE OF REGIONS, INDUSTRIES, EDUCATION AND GENDER (1999-2003)
Gwenn Parent, EHESS, Paris School of Economics

 

 

WAGE DISPERSION AND WAGE DYNAMICS WITHIN AND ACROSS FIRMS
Carlos Carrillo-Tudela, University of Leicester
Co-Author: Eric Smith, University of Essex

 


15:00 - 17:00

THE POLITICAL ECONOMY OF SOCIAL SECURITY (EEA)
Chairperson: Marie-Louise Leroux, GREMAQ, Université de Toulouse I

Room U-2


 

FINANCING SOCIAL SECURITY BY CONSUMPTION TAX: A POLITICAL-ECONOMY APPROACH
Hideki Konishi, Department of Social Engineering, Tokyo Institute of Technology

 

 

PENSIONS, EDUCATION AND LIFE EXPECTANCY
Thomas Lange, ifo Institute for Economic Research and University of Konstanz
Co-Authors: Michael Gorski, University of Paderborn and Tim Krieger, University of Paderborn

 

 

UNIFORM VERSUS VOLUNTARY RETIREMENT: THE POLITICAL ECONOMY OF SOCIAL SECURITY UNDER DIFFERENTIAL MORTALITY
Marie-Louise Leroux, GREMAQ, Université de Toulouse I

 


15:00 - 17:00

CONTRIBUTED SESSIONS 4
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

DYNAMICS AND FIRM BEHAVIOUR (ESEM TAE)
Chairperson: Svetlana Boyarchenko, University of Texas, Austin

Room B-12



 

 

ANTICOMPETITIVE VERTICAL MERGERS WAVES
Nicolas Schutz, Paris-Jourdan Sciences Economiques (PSE)
Co-Authors: Johan Hombert, CREST-ENSAE and PSE and Jerome Pouyet, Ecole Polytechnique and CEPR

 

 

LAST-IN FIRST-OUT OLIGOPOLY DYNAMICS
Jaap Abbring, VU University Amsterdam and Tinbergen Institute
Co-Author: Jeffrey Campbell, Federal Reserve Bank of Chicago and NBER

 

 

A MODEL OF VERTICAL OLIGOPOLISTIC COMPETITION
Markus Reisinger, University of Munich
Co-Author: Monika Schnitzer, University Munich and CEPR

 

 

FIRM DYNAMICS IN A COMPETITIVE INDUSTRY
Svetlana Boyarchenko, University of Texas, Austin

 


15:00 - 17:00

FINANCIAL MARKETS (ESEM TAE)
Chairperson: Xiangkang Yin, La Trobe University

Room B-10


 

PORTFOLIO CHOICE, BEHAVIORAL PREFERENCES AND EQUITY HOME BIAS
Alessandro Magi, University of Bologna

 

 

DUALITY IN MEAN-VARIANCE FRONTIERS WITH CONDITIONING INFORMATION
Penaranda Francisco, Universitat Pompeu Fabra
Co-Author: Enrique Sentana, CEMFI

 

 

OPTIMAL PORTFOLIO DELEGATION WITH IMPERFECT INFORMATION
Tao Li, The Chinese University of Hong Kong

 

 

INFORMATION AND CAPITAL ASSET PRICING
Xiangkang Yin, La Trobe University
Co-Author: Baibing Li, Loughborough University

 


15:00 - 17:00

INEQUALITY (ESEM TAE)
Chairperson: António Antunes, Banco de Portugal

Room B-9


 

A TALE OF MARKETS AND JUNGLES IN A SIMPLE MODEL OF GROWTH
Paolo Masella, London School of Economics
Co-Author: Thomas Gall, University of Bonn

 

 

ENDOGENOUS (RE-)DISTRIBUTIVE POLICIES AND ECONOMIC GROWTH: A COMPARATIVE STATIC ANALYSIS
Guenther Rehme, TU Darmstadt

 

 

EQUITY AND TRADE POLICY
Hugo Rojas-Romagosa, CPB Netherlands Bureau for Economic Policy Analysis
Co-Author: Joseph Francois, Johannes Kepler University, Linz

 


 

 

ON THE WELFARE AND DISTRIBUTIONAL IMPLICATIONS OF INTERMEDIATION COSTS
António Antunes, Banco de Portugal
Co-Authors: Tiago Cavalcanti, Universidade Federal de Pernambuco, and INOVA and Anne Villamil, University of Illinois at Urbana-Champaign

 


15:00 - 17:00

MONETARY POLICY (ESEM TAE)
Chairperson: Ester Faia, Universitat Pompeu Fabra

Room B-7


 

MONETARY POLICY WITH SINGLE INSTRUMENT FEEDBACK RULES.
Pedro Teles, Banco de Portugal, UCP. CEPR
Co-Authors: Bernardino Adao, Banco de Portugal and Isabel Correia , Banco de Portugal

 

 

INDETERMINACY, LABOR MARKET SEARCH, AND INTEREST RATE POLICY
Takushi Kurozumi, Bank of Japan
Co-Author: Willem Van Zandweghe, Carnegie Mellon University

 

 

FIRE SALES: REVISITING THE MARKET EQUILIBRIUM APPROACH
Johan Hombert, CREST-ENSAE and PSE

 

 

 

RAMSEY MONETARY POLICY WITH LABOR MARKET FRICTIONS
Ester Faia, Universitat Pompeu Fabra

 


15:00 - 17:00

SOLUTIONS FOR COOPERATIVE GAMES (ESEM TAE)
Chairperson: Péter Csóka, University of Maastricht

Room B-3


 

A MATRIX APPROACH TO TU GAMES WITH COALITION AND COMMUNICATION STRUCTURES
Gerard HAMIACHE, Universite Lille 3 - Gremars

 

 

REGRESSION GAMES
Miklos Pinter, Department of Mathematics, Corvinus University of Budapest

 

 

CONSISTENCY, MONOTONICITY AND IMPLEMENTATION OF ALPHA-EGALITARIAN SHAPLEY VALUES FOR COOPERATIVE GAMES
Johannes Rene van den Brink, Department of Econometrics, Free University Amsterdam
Co-Authors: Yukihiko Funaki, Department of Economics, School of Political Science and and Yuan Ju, Keele University

 

 

RISK ALLOCATION AND TOTALLY BALANCED GAMES
Péter Csóka, University of Maastricht

 


15:00 - 17:00

TAXATION (ESEM TAE)
Chairperson: Dezsö Szalay, University of Warwick

Room B-11



 

 

COLLECTIVELY INCENTIVE COMPATIBLE TAX SYSTEMS
Felix Bierbrauer, Max Planck Institute for Research on Collective Goods

 

 

IMITATING ACCRUAL TAXATION ON A REALIZATION BASIS
Marco Sahm, LMU Munich

 

 

REDISTRIBUTIVE POLITICS WITH DISTORTIONARY TAXATION
Nicolas Sahuguet, HEC Montreal
Co-Author: Benoît Crutzen, Erasmus Universiteit Rotterdam

 

 

TAXES AND EMPLOYMENT SUBSIDIES IN OPTIMAL REDISTRIBUTION PROGRAMS
Dezsö Szalay, University of Wawick
Co-Authors: Paul Beaudry, University of British Columbia and Charles Blackorby, University of Warwick

 


15:00 - 17:00

POLITICAL ECONOMY I (ESEM TAE)
Chairperson: Georgy Egorov, Harvard University

Room B-8


 

REPEATED ELECTORAL COMPETITION OVER NON-LINEAR INCOME TAX SCHEDULES
Georges Casamatta, GREMAQ, University of Toulouse
Co-Authors: Helmuth Cremer, GREMAQ-IDEI, University of Toulouse and Philippe De Donder, GREMAQ-IDEI, University of Toulouse

 

 

THE EMERGENCE OF INSTITUTIONS
Santiago Sanchez-Pages, University of Edinburgh
Co-Author: Stephane Straub, Universit of Edinburgh

 

 

RELIABILITY AND RESPONSIBILITY: A THEORY OF ENDOGENOUS COMMMITMENT
Matteo Maria Triossi Verondini, Collegio Carlo Alberto

 

 

COALITION FORMATION IN POLITICAL GAMES
Georgy Egorov, Harvard University
Co-Authors: Daron Acemoglu, MIT and Konstantin Sonin, New Economic School

 


15:00 - 17:00

CONTRACT THEORY II (ESEM TAE)
Chairperson: Martin Hellwig, Max Planck Institute, Bonn

Room B-13


 

UNOBSERVABLE CONTRACTS AS PRECOMMITMENTS
Levent Kockesen, Koc University

 

 

TRANSPARENCY AND ORGANIZATIONAL STRUCTURE
Julia Nafziger, Universite Libre de Bruxelles

 

 

A RENT EXTRACTION VIEW OF EMPLOYEE DISCOUNTS AND BENEFITS
Jan Zabojnik, Queen''s University
Co-Author: Anthony Marino, University of Southern California

 

 

INCENTIVE PROVISION WITH HIDDEN CHARACTERISTICS: A UNIFIED APPROACH
Martin Hellwig, Max Planck Institute, Bonn

 


15:00 - 17:00

CONTRIBUTED SESSIONS 4
ESEM: Econometrics and Empirical Economics


 


15:00 - 17:00

COINTEGRATION 3 (ESEM EEE)
Chairperson: Andrea Monticini, University of Exeter

Room A-3


 

CLASSICAL IDENTIFICATION: A VIABLE ROAD FOR DATA TO INFORM STRUCTURAL MODELLING
Roger Hammersland, Norges Bank

 

 

ON A NEW APPROACH TO COINTEGRATION--THE STATE-SPACE ERROR CORRECTION MODEL
Bernard Hanzon, School of Mathematical Sciences, University College Cork, Ireland and Thomas Ribarits, European Investment Bank

 

 

TESTING FOR THE COINTEGRATING RANK OF A VAR PROCESS WITH LEVEL SHIFT AND TREND BREAK
Carsten Trenkler, University of Mannheim
Co-Authors: Helmut Luetkepohl, European University Institute Florence and Pentti Saikkonen, Helsinki

 

 

TESTS FOR COINTEGRATION WITH STRUCTURAL BREAKS BASED ON SUBSAMPLES
Andrea Monticini, University of Exeter
Co-Author: James Davidson, School of Business and Economics, University of Exeter

 


15:00 - 17:00

FACTOR MODELS 2 (ESEM EEE)
Chairperson: Romain Houssa, KU Leuven

Room B-6


 

A LOOK INTO THE FACTOR MODEL BLACK BOX: PUBLICATION LAGS AND THE ROLE OF HARD AND SOFT DATA IN FORECASTING GDP
Gerhard Rünstler, European Central Bank
Co-Author: Marta Banbura, Universite Libre de Bruxelles

 

 

DATING AND FORECASTING TURNING POINTS BY BAYESIAN CLUSTERING: A SUGGESTION WITH AN APPLICATION TO AUSTRIAN DATA.
Sylvia Kaufmann, Oesterreichische Nationalbank

 

 

MONETARY UNION IN WEST AFRICA AND ASYMMETRIC SHOCKS : A DYNAMIC STRUCTURAL FACTOR MODEL APPROACH
Romain Houssa, KU Leuven

 

 

LOCALLY STATIONARY FACTOR MODELS: IDENTIFICATION AND NONPARAMETRIC ESTIMATION
Christian Hafner, UCLouvain la Neuve
Co-Authors: Giovanni Motta, KU Leuven and Rainer von Sachs, KU Leuven

 


15:00 - 17:00

FINANCIAL ECONOMETRICS 2 (ESEM EEE)
Chairperson: Baillie Richard, Michigan State University

Room B-5


 

THE IMPACT OF OIL PRICE SHOCKS ON THE U.S. STOCK MARKET
Cheolbeom Park, Department of Economics, National University of Singapore
Co-Author: Kilian Lutz , University of Michigan

 

 

TIME-VARYING LIQUIDITY IN HEDGE FUND RETURNS
Andrew Patton, LSE
Co-Author: Sheng Li, London School of Economics

 

 

NONLINEAR MODELS WITH STRONGLY DEPENDENT PROCESSES AND APPLICATIONS TO FORWARD PREMIA AND REAL EXCHANGE RATES
Baillie Richard, Michigan State University
Co-Author: George Kapetanios

 


15:00 - 17:00

GROWTH (ESEM EEE)
Chairperson: Tommaso Proietti, Università degli Studi di Roma Tor Vergata

Room B-2


 

GROWTH ACCOUNTING FOR THE EURO AREA: A STRUCTURAL APPROACH
Tommaso Proietti, Università degli Studi di Roma Tor Vergata

 

 

DOES IT MAKE A DIFFERENCE? COMPARING GROWTH EFFECTS OF EUROPEAN AND NORTH AMERICAN FDI IN LATIN AMERICA
Patricia Prüfer, Tilburg University
Co-Author: Gabriele Tondl, Vienna University of Economics and Business Administration

 

 

INTERNATIONAL OUTPUT CONVERGENCE: EVIDENCE FROM AN AUTOCORRELATION FUNCTION APPROACH
Giovanni Caggiano, University of Glasgow
Co-Author: Leone Leonida, Queen Mary University of London

 

 

THE EFFECT OF INFORMATION TECHNOLOGY AND HUMAN CAPITAL ON ECONOMIC GROWTH
Elena Ketteni, University of Cyprus
Co-Authors: Theofanis Mamuneas, University of Cyprus and Thanasis Stengos, University of Guelph

 


15:00 - 17:00

IDENTIFICATION AND/OR WEAK INSTRUMENTS (ESEM EEE)
Chairperson: Sophocles Mavroeidis, Brown University

Room B-1


 

SUBSETS TESTS IN GMM WITHOUT ASSUMING IDENTIFICATION
Sophocles Mavroeidis, Brown University
Co-Author: Frank Kleibergen, Brown University and University of Amsterdam

 

 

USING HETEROSKEDASTICITY TO IDENTIFY AND ESTIMATE MISMEASURED AND ENDOGENOUS REGRESSOR MODELS
Arthur Lewbel, Boston college

 


 

 

IDENTIFICATION WITH DISCRETE OUTCOMES
Andrew Chesher, UCL

 

 

EXPANSIONS OF GMM STATISTICS AND THE BOOTSTRAP
Frank Kleibergen, Brown University and University of Amsterdam

 


15:00 - 17:00

LABOUR MARKETS 1 (ESEM EEE)
Chairperson: Peter Haan, DIW Berlin

Room A-7


 

INTERTEMPORAL LABOR SUPPLY EFFECTS OF TAX REFORMS
Peter Haan, DIW Berlin

 

 

INTRINSIC MOTIVATION, DISCRIMINATION AND THE CHILD LABOR-SCHOOLING TRADE-OFF: EMPIRICAL FINDINGS
Bernhard Ganglmair, University of Bonn

 

 

LABOR SUPPLY AS A CHOICE AMONG LATENT JOB OPPORTUNITIES: A PRACTICAL EMPIRICAL APPROACH
Zhiyang Jia, Research Department, Statistics Norway
Co-Author: john Dagsvik, Research Department, Statistics Norway

 

 

ARE SPECIFIC SKILLS AN OBSTACLE TO LABOR MARKET ADJUSTMENTS?
Ana Lamo, European Central Bank
Co-Authors: julian messina, Università di Salerno and Etienne Wasmer, Institut d’Etudes Politiques de Paris

 


15:00 - 17:00

SPECIFICATION TESTING (ESEM EEE)
Chairperson: Paulo Parente, University of Cambridge, Faculty of Economics

Room B-4


 

ENCOMPASSING TESTS FOR THE COMPARISON OF PARAMETRIC AND SEMIPARAMETRIC MODELS
Paulo Parente, University of Cambridge, Faculty of Economics
Co-Author: Richard J. Smith, University of Cambridge

 

 

MOMENT TESTS FOR STANDARDIZED ERROR DISTRIBUTIONS: A SIMPLE ROBUST APPROACH
Yi-Ting Chen, Institute of Economics, Academia Sinica

 

 

INFORMATION_THEORETIC DISTRIBUTION TESTS WITH APPLICATION TO NORMALITY
Thanasis Stengos, University of Guelph
Co-Author: Ximing Wu, Texas A&M University

 

 

A LOW DIMENSION COLLINEARITY-ROBUST TEST FOR NON-LINEARITY
Jennifer Castle, University of Oxford
Co-Author: David F. Hendry, University of Oxford

 


15:00 - 17:00

STATE SPACE MODELS (ESEM EEE)
Chairperson: Jose Gallego, Universidad de Cantaria

Room A-2



 

 

DUALITY BETWEEN ARIMA AND STRUCTURAL TIME SERIES MODELS
Jose Gallego, Universidad de Cantaria
Co-Author: Maria Roca, Universidad de Catnabria

 

 

ESTIMATING COMMON TRENDS IN RECIDIVISM USING A BINOMIAL PANEL DATA MODEL
Marius Ooms, Department of Econometrics FEWEB Vrije Universiteit Amsterdam
Co-Authors: Siem Jan Koopman, VU University, Amsterdam, André Lucas, Department of Finance, Vrije Universiteit Amsterdam, Victor Van der Geest, NCSR Leiden and Kees Van Montfort, Department of Econometrics, Vrije Universiteit Amsterdam

 

 

FORECASTING KEY MACROECONOMIC VARIABLES FROM A LARGE NUMBER OF PREDICTORS: A STATE SPACE APPROACH
Terje Skjerpen, Statistics Norway
Co-Authors: Arvid Raknerud, Statistics Norway and Anders Rygh Swensen, University of Oslo, Department of Mathematics

 


15:00 - 17:00

YIELD CURVE (ESEM EEE)
Chairperson: Rene Garcia, Montreal

Room A-5


 

RISK AVERSION, INTERTEMPORAL SUBSTITUTION AND THE TERM STRUCTURE OF INTEREST RATES
Rene Garcia, Montreal
Co-Author: Richard Luger, emory university

 

 

BOND LIQUIDITY PREMIA
Jean-Sébastien Fontaine, Université de Montréal
Co-Author: Rene Garcia, Montreal

 

 

IMPERFECT POLICY CREDIBILITY, TERM PREMIA AND EXPECTATIONS PUZZLES
Peter Hördahl, Bank for International Settlements
Co-Author: Oreste Tristani, ECB

 

 

THE EXPECTATION HYPOTHESIS OF THE TERM STRUCTURE OF VERY SHORT-TERM RATES: STATISTICAL TESTS AND ECONOMIC VALUE
Pasquale Della Corte, University of Warwick
Co-Authors: Lucio Sarno, Warwick Business School and Daniel Thornton, Federal Reserve Bank of St. Louis

 


15:00 - 17:00

PANEL DISCUSSION ON DEVELOPMENT


 


15:00 - 17:00

PANEL DISCUSSION ON DEVELOPMENT (EEA)
Chairperson: Paul Collier, Saint Anthony’s College – Oxford University

Room A-6


 

PANEL DISCUSSION ON DEVELOPMENT

Discussant(s): Daron Acemoglu, MIT, Esther Duflo, MIT, William Easterly, New York University and George Soros, Quantum Fund

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

SCHUMPETER LECTURE, HOTEL INTER-CONTINENTAL


 


17:30 - 19:30

SCHUMPETER LECTURE (EEA)
Chairperson: Giancarlo Corsetti,

Room Intercontinental


 

GROUPTHINK, AND IDEOLOGY
Roland Benabou, Princeton University, European University Institute

 


20:00 - 22:00

CONFERENCE DINNER, HUNGARIAN NATIONAL GALERY


 


THURSDAY 30 AUGUST 2007


09:00 - 11:00

CONTRIBUTED SESSIONS 5
EEA


 


09:00 - 11:00

IO COMPETITION POLICY AND MERGERS (EEA)
Chairperson: Arnaud Féral, THEMA Université de Cergy Pontoise

Room U-21


 

DECISION-MAKING IN MERGER CONTROL: COMMUNICATION BETWEEN MERGING PARTIES AND THE COMPETITION AUTHORITY
An Renckens, University of Antwerp

 

 

INTERNATIONAL COMPETITION POLICY: INFORMATION SHARING BETWEEN NATIONAL COMPETITION AUTHORITIES
Marta Troya Martinez, University of Oxford

 

 

DO REMEDIES AFFECT THE EFFICIENCY DEFENCE? AN OPTIMAL MERGER CONTROL ANALYSIS.
Jean-Philippe Tropeano, Université de Grenoble
Co-Author: Andreea Cosnita, Universite de Paris I, Centre d'Economie de la Sorbonne

 

 

MERGER CONTROL WITH TRANSFERS FROM THE CAPITAL GAINS TAX AND ASSET DIVESTÙENTS
Arnaud Féral, THEMA Université de Cergy Pontoise

 


09:00 - 11:00

IO: ORGANIZATION AND CONTRACTS II (EEA)
Chairperson: Christian Ewerhart, University of Zurich

Room U-20


 

BREAKING THE TIE AND TYING THE BREACHEE: LEXICOGRAPHIC MAXIMIZERS, INSTALLMENT CONTRACTS AND THE SUBSTANTIAL IMPAIRMENT REQUIREMENT
Bernhard Ganglmair, University of Bonn

 

 

OPPORTUNISTIC TERMINATION
Alexander Stremitzer, University of Bonn

 

 

WORK ORGANIZATION AND PREFERENCES DYNAMICS
Victor Hiller, Université Paris 1

 

 

RELATIVE PERFORMANCE IN BILATERAL TRADE
Christian Ewerhart, University of Zurich

 


09:00 - 11:00

GROWTH AND REFORM: EMPIRICS (EEA)
Chairperson: Jesus Crespo Cuaresma, University of Innsbruck

Room U-19


 

THE DEVIL IS IN THE SHADOW - DO INSTITUTIONS AFFECT INCOME AND PRODUCTIVITY OR ONLY OFFICIAL INCOME AND OFFICIAL PRODUCTIVITY?
Pierre-Guillaume Meon, ULB
Co-Authors: Axel Dreher, ETH Zurich and Friedrich Schneider, University of Linz

 

 

INSTITUTIONS AND ECONOMIC PERFORMANCE: DIMENSIONS OF CROSS-COUNTRY PARAMETER HETEROGENEITY
Ann-Sofie Isaksson, Göteborg University

 

 

LABOR MARKET REFORM AND THE LEGAL SYSTEM
Michael Neugart, Wissenschaftszentrum Berlin für Sozialforschung (WZB)
Co-Author: Carsten Hefeker, University of Siegen

 

 

NONLINEARITIES IN CROSS-COUNTRY GROWTH REGRESSIONS: A BAYESIAN AVERAGING OF THRESHOLDS (BAT) APPROACH
Jesus Crespo Cuaresma, University of Innsbruck
Co-Author: Gernot Doppelhofer, University of Cambridge

 


09:00 - 11:00

MONETARY POLICY AND ASSET PRICING (EEA)
Chairperson: Airaudo Marco, Collegio Carlo Alberto

Room U-18


 

U.S. STOCK PRICES AND MORAL HAZARD: DID THE FED CONTRIBUTE TO THE BUBBLE IN THE LATE 1990S?
Florian Kajuth, LMU Munich

 

 

MONETARY POLICY REGIMES AND THE VOLATILITY OF LONG-TERM INTEREST RATES
Virginia Queijo von Heideken, Institute for International Economic Studies

 

 

LEARNING, MONETARY POLICY AND ASSET PRICES
Airaudo Marco, Collegio Carlo Alberto
Co-Authors: Salvatore Nistico, Università LUISS Guido Carli, Rome, Italy and Felipe Zanna, IMF

 


09:00 - 11:00

INTERNATIONAL TRANSMISSION AND NATIONAL INSTITUTIONS (EEA)
Chairperson: Federico Trionfetti, GREQAM, HEI

Room U-16


 

NATIONAL INSTITUTIONS AND INTERNATIONAL MACROECONOMICS: WITHIN-COUNTRY RISK-REALLOCATION UNDER INCOMPLETE MARKETS
Anna Lo Prete, Università di Torino

 

 

DIVERGENCE IN LABOR MARKET INSTITUTIONS AND INTERNATIONAL BUSINESS CYCLES
Lise Patureau, THEMA, Univeristy of Cergy-Pontoise
Co-Authors: Raquel Fonseca, RAND and Thepthida Sopraseuth, EPEE, Cepremap, Evry University, PSE

 

 

LABOR MARKET RIGIDITIES, FINANCIAL INTEGRATION AND INTERNATIONAL RISK SHARING IN THE OECD
Johann Scharler, University of LInz
Co-Authors: Jarko Fidrmuc, University of Munich and Neil Foster, University of Vienna

 

 

THE EFFECT OF HOME-BIASED GOVERNMENT EXPENDITURE ON PRODUCTIVITY AND WELFARE
Federico Trionfetti, GREQAM, HEI

 


09:00 - 11:00

INEQUALITY (EEA)
Chairperson: Nicolas Pistolesi, THEMA, Universite de Cergy-Pontoise

Room U-11


 

NO RISE IN INCOME INEQUALITY? A REAPPRAISAL OF THE GERMAN INCOME DISTRIBUTION 1992-2001
Viktor Steiner, DIW Berlin, FU Berlin
Co-Authors: Stefan Bach, DIW Berlin and Giacomo Corneo, FU Berlin

 

 

THE RICH IN ARGENTINA OVER THE TWENTIETH CENTURY FROM THE CONSERVATIVE REPUBLIC TO THE PERONIST EXPERIENCE AND BEYOND 1932-2004
Facundo Alvaredo, Paris-Jourdan Sciences Economics and CREST

 

 

REPRESENTATIVE WEALTH DATA FOR GERMANY: THE IMPACT OF METHODOLOGICAL DECISIONS AROUND MULTIPLE IMPUTATION AND THE CHOICE OF THE AGGREGATION UNIT
Markus M. Grabka, DIW Berlin
Co-Authors: Joachim R. Frick, DIW Berlin and Eva Sierminska, LIS

 

 

INEQUALITY OF OPPORTUNITY IN THE LAND OF OPPORTUNITIES
Nicolas Pistolesi, THEMA, Universite de Cergy-Pontoise

 


09:00 - 11:00

LABOR MARKET: EFFECTS OF INSURANCE (EEA)
Chairperson: Michael Begorre Bret, Cemmap, UCL and Paris School of Economics

Room U-7


 

BENEFIT-ENTITLEMENT EFFECTS AND THE DURATION OF UNEMPLOYMENT - AN EX-ANTE EVALUATION OF RECENT LABOUR MARKET REFORMS IN GERMANY
Hendrik Schmitz, Ruhr Graduate School in Economics (RGS Econ)
Co-Author: Viktor Steiner, DIW Berlin, FU Berlin

 

 

THE EFFECT OF UNEMPLOYMENT BENEFITS ON RE-EMPLOYMENT RATES: EVIDENCE FROM FINNISH UI-BENEFIT REFORM
Roope Uusitalo, Helsinki School of Economics
Co-Author: Jouko Verho, University of Helsinki

 

 

THE EFFECTS OF PUBLIC EMPLOYMENT PROGRAMS ON EQUILIBRIUM UNEMPLOYMENT
Tanja Zehnder, University of Zurich, IEW
Co-Author: Rafael Lalive, University of Lausanne

 

 

INCOME REDISTRIBUTION AND TRAINING PROGRAMMES AS AN INSURANCE DEVICE
Michael Begorre Bret, Cemmap, UCL and Paris School of Economics

 

 



09:00 - 11:00

LABOR MARKET AND MACROECONOMIC DYNAMICS II (EEA)
Chairperson: Julen Esteban-Pretel, Department of Economics, University of Tokyo

Room U-14


 

RIGID TECHNOLOGY DIFFUSION AND CYCLICAL DYNAMICS IN A MATCHING MODEL
Juuso Vanhala, Bank of Finland

 

 

THE BUSINESS CYCLE IMPLICATIONS OF RECIPROCITY IN LABOR RELATIONS
Andre Kurmann, UQAM
Co-Author: Jean-Pierre Danthine, Université de Lausanne, Swiss Finance Institute

 

 

STRUCTURAL UNEMPLOYMENT IN A MATCHING MODEL WITH ENDOGENOUS SKILL-ACQUISITION AND TECHNOLOGICAL DIFFUSION
Fabio Riccardo Arico, University of Warwick

 

 

THE INFORMAL LABOR MARKET IN LATIN AMERICA
Julen Esteban-Pretel, Department of Economics, University of Tokyo
Co-Author: Mariano Bosch, London School of Economics

 


09:00 - 11:00

PERSONNEL ECONOMICS: PROMOTIONS (EEA)
Chairperson: Christian Pfeifer, Institute of Labour Economics, Leibniz University Hannover

Room U-10


 

PROMOTIONS, JOB ASSIGNMENTS AND INCENTIVES TO PERFORM.
Kris Boschmans, University of Antwerp

 

 

PROMOTIONS IN MULTI-STAGE ELIMINATION TOURNAMENTS: AN EXPERIMENTAL INVESTIGATION
Matthias Wibral, University of Bonn and IZA
Co-Authors: Steffen Altmann, University of Bonn and IZA and Armin Falk, University of Bonn

 

 

WHY DO I LIKE PEOPLE LIKE ME? EVIDENCE FROM PUBLIC EXAMINATIONS TO THE SPANISH JUDICIAL AND FISCAL CORPS
Maria Jose Perez-Villadoniga, Universidad de Oviedo
Co-Authors: Manuel Bagues, Universidad Carlos III and Florentino Felgueroso, Universidad de Oviedo, CEPR and FEDEA

 

 

DETERMINANTS OF PROMOTIONS IN AN INTERNAL LABOUR MARKET: TESTING IMPLICATIONS FROM TOURNAMENT THEORY AND EFFICIENT ALLOCATION OF WORKERS
Christian Pfeifer, Institute of Labour Economics, Leibniz University Hannover

 

 



09:00 - 11:00

ECONOMICS OF EDUCATION IV (EEA)
Chairperson: Susanna Holzer, Växjö University

Room U-13


 

STUDYING ABROAD AND THE EFFECT ON INTERNATIONAL LABOR MARKET MOBILITY. EVIDENCE FROM THE INTRODUCTION OF ERASMUS
Matthias Parey, University College London (UCL)
Co-Author: Fabian Waldinger, LSE, CEP & UC Berkeley

 

 

THE BOLOGNA PROCESS: HOW STUDENT MOBILITY AFFECTS MULTI-CULTURAL SKILLS AND EDUCATIONAL QUALITY
Lydia Mechtenberg, Technical University of Berlin
Co-Author: Roland Strausz, Free University of Berlin

 

 

DOES MONEY BUY HIGHER SCHOOLING? EVIDENCE FROM SECONDARY SCHOOL TRACK CHOICE IN GERMANY
Marcus Tamm, RWI Essen

 

 

THE EXPANSION OF HIGHER EDUCATION IN SWEDEN AND THE ISSUE OF EQUALITY OF OPPORTUNITY
Susanna Holzer, Växjö University

 


09:00 - 11:00

EXPERIMENTS III (EEA)
Chairperson: Astrid Matthey, University of Jena

Room U-8


 

COMPETITION AND INNOVATION:AN EXPERIMENTAL INVESTIGATION
Dario Sacco, University of Zurich

 

 

FUNGIBILITY, LABELS, AND CONSUMPTION
Johannes Abeler, IZA and University of Bonn
Co-Author: Felix Marklein, IZA and University of Bonn

 

 

IMITATION WITH INTENTION AND MEMORY: AN EXPERIMENT
Astrid Matthey, University of Jena

 


09:00 - 11:00

EXCHANGE RATE VOLATILITY AND OVERSHOOTING (EEA)
Chairperson: Pablo Rovira Kaltwasser, University of Leuven

Room U-22


 

MONETARY POLICY AND EXCHANGE RATE OVERSHOOTING: DORNBUSCH WAS RIGHT AFTER ALL
Hilde Bjørnland, Norwegian School of Management (BI)

 

 

INVESTOR SENTIMENT IN THE US-DOLLAR: LONGER-TERM, NONLINEAR ORIENTATION ON PPP
Rafael Rebitzky, Leibniz Universität Hannover
Co-Author: Lukas Menkhoff, Leibniz Universität Hannover

 


 

 

MODELING OPTIMISM AND PESSIMISM IN THE FOREIGN EXCHANGE MARKET
Pablo Rovira Kaltwasser, University of Leuven
Co-Author: Paul De Grauwe, University of Leuven

 


09:00 - 11:00

BUSINESS CYCLES: VOLATILITY AND THE GREAT MODERATION (EEA)
Chairperson: Ricardo Reis, Princeton University

Room U-3


 

THE U.S. BUSINESS CYCLE, 1866-1939: DYNAMIC FACTOR ANALYSIS VS. RECONSTRUCTED NATIONAL ACCOUNTS
Martin Uebele, Humboldt Un. of Berlin, University of Warwick
Co-Authors: Albrecht Ritschl, Humboldt University Berlin and Samad Sarferaz, Humboldt University Berlin

 

 

ON THE SOURCES OF THE GREAT MODERATION
Luca Gambetti, Universitat Autonoma de Barcelona
Co-Author: Jordi Gali , CREI, Universitat Pompeu Fabra

 

 

DIVERGING TRENDS IN AGGREGATE AND FIRM-LEVEL VOLATILITY IN THE UK
Miles Parker, Bank of England

 

 

THE BREVITY AND VIOLENCE OF CONTRACTIONS AND EXPANSIONS
Ricardo Reis, Princeton University
Co-Author: Alisdair McKay, Princeton University

 


09:00 - 11:00

CRIME AND TERRORISM (EEA)
Chairperson: Mirko Draca, Centre for Economic Performance, London School of Economics

Room U-15


 

DO HARSHER PUNISHMENTS DETER CRIME? PERCEPTIONS AND BEHAVIOR AROUND THE AGE OF CRIMINAL MAJORITY
Randi Hjalmarsson, University of Maryland

 

 

HOOLIGANISM IN THE SHADOW OF THE 9/11 TERRORIST ATTACK AND THE TSUNAMI: DO POLICE REDUCE GROUP VIOLENCE?
Mikael Priks, Center for Economic Studies, University of Munich
Co-Author: Panu Poutvaara, University of Helsinki

 

 

DOES TERROR THREATEN HUMAN RIGHTS? EVIDENCE FROM PANEL DATA
Martin Gassebner, ETH Zurich
Co-Authors: Axel Dreher, ETH Zurich and Lars Siemers, RWI Essen

 

 

"PANIC ON THE STREETS OF LONDON"
Mirko Draca, Centre for Economic Performance, London School of Economics
Co-Authors: Stephen Machin, and Robert Witt,

 


09:00 - 11:00

FIRM HETEROGENEITY, TRADE AND FDI (EEA)
Chairperson: Julian Emami Namini, Erasmus University Rotterdam

Room U-12


 

BURIDAN'S ASS AND A MENU OF OPTIONS
Svetlana Boyarchenko, University of Texas, Austin

 

 

INCOMPLETE CONTRACTS AND THE WELFARE IMPACT OF GLOBALIZATION
Frederic Andres, University Paris Dauphine
Co-Author: Fabrice Defever, University Paris 1

 

 

INTERNATIONAL PRODUCTION UNDER UNCERTAINTY: AN INCENTIVE-BASED APPROACH
Christian Mugele, University of Munich

 

 

RANDOM VERSUS CONSCIOUS SELECTION INTO EXPORT MARKETS - THEORY AND EMPIRICAL EVIDENCE
Julian Emami Namini, Erasmus University Rotterdam
Co-Author: Ricardo Lopez, Indiana University

 


09:00 - 11:00

INTERNATIONAL TRADE: EMPIRICS (EEA)
Chairperson: Stephen Tokarick, International Monetary Fund

Room U-6


 

DIE ANOTHER DAY: DURATION IN GERMAN IMPORT TRADE
Volker Nitsch, Free University Berlin

 

 

GATT/WTO, FDI AND INTRA-FIRM TRADE: THEORY AND EVIDENCE
Dieter Urban, Johannes Gutenberg University Mainz
Co-Authors: Pehr-Johan Norback, Research Institute of Industrial Economics and Stefan Westerberg, Research Institute of Industrial Economics

 

 

INTERDEPENDENT PREFERENTIAL TRADE AGREEMENT MEMBERSHIPS: AN EMPIRICAL ANALYSIS
Mario Larch, ifo Institute for Economic Research

 

 

EVALUATING THE ROBUSTNESS OF TRADE RESTRICTIVENESS INDICES
Stephen Tokarick, International Monetary Fund

 


09:00 - 11:00

FINANCE AND GROWTH (EEA)
Chairperson: Nicholas Apergis, University of Piraeus

Room U-4


 

FINANCE AND GROWTH IN A BANK-BASED ECONOMY: IS IT QUANTITY OR QUALITY THAT MATTERS?
Michael Koetter, University of Groningen
Co-Author: Michael Wedow, Deutsche Bundesbank

 

 

A NEOCLASSICAL MODEL OF FINANCIAL CAPITAL
Emanuel Barnea, Bank of Israel
Co-Author: Moshe Kim, University of Haifa and Universitat Pompeu Fabra

 

 

FINANCIAL SYSTEM DEVELOPMENT, STRUCTURE AND INDUSTRIAL SECTOR GROWTH
Nicholas Apergis, University of Piraeus
Co-Authors: Angelos Antzoulatos, University of Piraeus and Chris Tsoumas, University of Piraeus

 


09:00 - 11:00

FISCAL POLICY AND MACROECONOMIC DYNAMICS (EEA)
Chairperson: Philip Jung, Univseriteit van Amsterdam

Room U-17


 

OPTIMAL FISCAL POLICY IN AN ECONOMY WITH THE POSSIBILITY OF DEFAULT
Francesco Caprioli, Universitat Pompeu Fabra
Co-Author: Sofia Bauducco, Universitat Pompeu Fabra

 

 

PUBLIC DEBT AND AGGREGATE RISK
Sumudu Kankanamge, Université Paris 1 - Panthéon Sorbonne
Co-Author: Audrey Desbonnet, Université Paris 1 - Panthéon Sorbonne

 

 

PUBLIC DEBT AS PRIVATE LIQUIDITY: IMPLICATIONS FOR THE EFFECTS OF FISCAL POLICY SHOCKS
Xavier Ragot, CNRS
Co-Authors: Yann Algan, Université de Marne-la-Vallée and Edouard Challe, CNRS

 

 

TAXATION AND LABOR MARKET FLUCTUATIONS-- WHY CAPITAL TAXES ARE A "GOOD IDEA"
Philip Jung, Univseriteit van Amsterdam

 


09:00 - 11:00

INFLATION PERSISTENCE (EEA)
Chairperson: Gianni Amisano, Dg-Research, European Central Bank

Room U-2


 

THE RISE AND FALL OF U.S. INFLATION PERSISTENCE
Pär Österholm, Department of Economics, Uppsala University
Co-Author: Meredith Beechey, Board of Governors of the Federal Reserve System

 

 

MEASURING AND EXPLAINING INFLATION PERSISTENCE: DISAGGREGATE EVIDENCE ON THE CZECH REPUBLIC
Ian Babetskii, Czech National Bank, CERGE-EI, and CES University of Paris-1 Sorbonne
Co-Authors: Fabrizio Coricelli, University of Siena and Roman Horváth, Czech National Bank

 

 

EURO AREA INFLATION PERSISTENCE IN AN ESTIMATED NONLINEAR DSGE MODEL
Gianni Amisano, Dg-Research, European Central Bank
Co-Author: Oreste Tristani, ECB

 


09:00 - 11:00

THE INTERGENERATIONAL TRANSMISSION OF ATTITUDES (EEA)
Chairperson: Lidia Farre-Olalla, Universidad de Alicante

Room U-1


 

THE INTERGENERATIONAL TRANSMISSION OF RISK AND TRUST ATTITUDES
Uwe Sunde, IZA Bonn
Co-Authors: Thomas Dohmen, IZA/Bonn, Armin Falk, University of Bonn and David Huffman, IZA/Bonn

 


 

 

ENTREPRENEURSHIP AND SURVIVAL DYNAMICS OF FOREIGN-BORN AND U.S-BORN IMMIGRANTS
Konstantinos Tatsiramos, Institute for the Study of Labor (IZA, Bonn)
Co-Author: Dimitris Georgarakos, University of Frankfurt

 

 

GENDER ROLES, PARTNERSHIPS AND CHILDREN: EVIDENCE FROM EUROPE
José Ignacio Giménez, University of Zaragoza
Co-Authors: José Alberto Molina, University of Zaragoza and Almudena Sevilla-Sanz, Oxford University

 

 

THE INTERGENERATIONAL TRANSMISSION OF GENDER ROLE ATTITUDES
Lidia Farre-Olalla, Universidad de Alicante
Co-Author: Frank Vella, Georgetown Unviersity

 


09:00 - 11:00

CONTRIBUTED SESSIONS 5
ESEM: Theoretical and Applied Economics


 


09:00 - 11:00

BARGAINING (ESEM TAE)
Chairperson: Daniel Cardona, Universitat de les Illes Balears

Room B-12


 

A BARGAINING MODEL OF THE ANTICOMMONS
Midori Hirokawa, Faculty of Economics, Hosei University
Co-Author: Richard Cornes, School of Economics, University of Nottingham: School of Economics, Australian National University

 

 

TWO STAGE BARGAINING SOLUTIONS
Marco Mariotti, Queen Mary University of London
Co-Author: Paola Manzini, Queen Mary, University of London

 

 

COOLING OFF IN NEGOTIATIONS - DOES IT WORK?
Andreas Roider, University of Bonn
Co-Authors: Jörg Oechssler, University of Heidelberg and Patrick Schmitz, University of Cologne

 

 

CONSENSUS ON CONSENSUS IN HETEROGENEOUS GROUPS
Daniel Cardona, Universitat de les Illes Balears
Co-Author: Clara Ponsati, Institut d'Anàlisi Econòmica - CSIC

 


09:00 - 11:00

COLLECTIVE DECISION MAKING: THEORY AND PREDICTIONS (ESEM TAE)
Chairperson: Bram De Rock, KULeuven Campus Kortrijk

Room B-10


 

COOPERATION IN EXPERIMENTAL GAMES OF STRATEGIC COMPLEMENTS AND SUBSTITUTES
Sigrid Suetens, University of Antwerp
Co-Author: Jan Potters, CentER, Tilburg University

 

 

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

 


 

 

THE GRADUAL FORMATION OF INTERNATIONAL TRADE AGREEMENTS
Gal Hochman, Technion
Co-Author: Rann Smorodinsky, Technion

 

 

 

 


09:00 - 11:00

EXCHANGE RATES (ESEM TAE)
Chairperson: Michael Kumhof, IMF

Room B-9


 

EXPENDITURE-SWITCHING EFFECT AND THE EXCHANGE RATE REGIME DEBATE
Wei Dong, Bank of Canada

 

 

PASS-THROUGH AT THE DOCK: PRICING TO CURRENCY AND TO MARKET?
Oleg Itskhoki, Harvard University, Department of Economics
Co-Authors: Gita Gopinath, Harvard and Roberto Rigobon, MIT, Sloan School of Management

 

 

RE-EXAMINING LONG-RUN PPP UNDER AN INNOVATION REGIME SWITCHING FRAMEWORK
Yu-Lieh Huang, National Tsing Hua University
Co-Author: Chung-Ming Kuan,

 

 

MONETARY POLICY IN AN EQUILIBRIUM PORTFOLIO BALANCE MODEL
Michael Kumhof, IMF
Co-Author: Stijn van Nieuwerburgh, New York University

 


09:00 - 11:00

GROUPS FORMATION AND RENT SEEKING (ESEM TAE)
Chairperson: Ethan Cohen-Cole, Federal Reserve Bank of Boston

Room B-7


 

A THEORY OF INTERGENERATIONAL INSTITUTIONS
Juan Perote-Peña, Universidad de Zaragoza

 

 

AN EXCHANGE ECONOMY WITH PILLAGE
Colin Rowat, University of Birmingham
Co-Author: Herakles Polemarchakis, University of Warwick

 

 

COALITION FORMATION IN A COMMON POOL RESOURCE GAME: AN EXPERIMENT
Jana Vyrastekova, Nijmegen University
Co-Authors: Yukihiko Funaki, Department of Economics, School of Political Science and, Ai Takeuchi, Waseda University and Daan van Soest, Tilburg Univeristy

 

 

GROUP FORMATION, FARSIGHTED AGENTS, AND SEARCH FRICTIONS
Ethan Cohen-Cole, Federal Reserve Bank of Boston

 

 



09:00 - 11:00

INDUSTRIAL ORGANIZATION (ESEM TAE)
Chairperson: Carlos Daniel Rodrigues de Assuncao Santos, London School of Economics

Room B-13


 

ASYMMETRIC EQUILIBRIA AND NON-COOPERATIVE ACCESS PRICING IN TELECOMMUNICATIONS
Stefan Behringer, Universität Frankfurt

 

 

PRICE FIXING AND NON-PRICE COMPETITION
Marco Haan, University of Groningen
Co-Author: Bastiaan Overvest, University of Groningen

 

 

COMPETITOR COLLABORATION AND PRODUCT DISTINCTIVENESS
Hodaka Morita, School of Economics, University of New South Wales
Co-Author: Arghya Ghosh, School of Economics, Unnversity of New South Wales

 

 

INVESTMENT AND R&D IN A DYNAMIC EQUILIBRIUM WITH INCOMPLETE INFORMATION
Carlos Daniel Rodrigues de Assuncao Santos, London School of Economics

 


09:00 - 11:00

LABOUR MARKET (ESEM TAE)
Chairperson: Carlos Carrillo-Tudela, University of Leicester

Room B-11


 

EQUILIBRIUM UNEMPLOYMENT DURATION IN AN URN-BALL MODEL OF THE LABOR MARKET
Juha Virrankoski, University of Helsinki
Co-Authors: Klaus Kultti, University of Helsinki and Antti Miettunen, University of Helsinki

 

 

SMALL MARKETS
Åsa Rosen, Stockholm University
Co-Author: Espen Moen, Norwegian School of Economics

 

 

DOES HARD WORK PAY? EVIDENCE ON THE RETURN TO EFFORT
Martin Ljunge, University of Copenhagen

 

 

THE EFFECTS OF SEARCH FRICTIONS ON THE WAGE-EXPERIENCE PROFILE: A NUMERICAL APPROACH
Carlos Carrillo-Tudela, University of Leicester

 


09:00 - 11:00

MONETARY POLICY AND COMMITMENT (ESEM TAE)
Chairperson: Klaus Adam, European Central Bank

Room B-3


 

IMPERFECTLY CREDIBLE DISINFLATION UNDER ENDOGENOUS TIME-DEPENDENT PRICING
Marco Bonomo, EPGE/Fundação Getulio Vargas and CIREQ
Co-Author: Carlos Carvalho, Princeton University

 

 

ON POLICY INTERACTIONS AMONG NATIONS: WHEN DO COOPERATION AND COMMITMENT MATTER ?
Leopold von Thadden, European Central Bank
Co-Author: Hubert Kempf, Université Paris-1 Sorbonne and Banque de France

 

 

FISCAL AND MONETARY RULES FOR A CURRENCY UNION
Andrea Ferrero, Federal Reserve Bank of New York

 

 

MONETARY CONSERVATISM AND FISCAL POLICY
Klaus Adam , European Central Bank
Co-Author: Roberto M. Billi, Federal Reserve Bank of Kansas City

 


09:00 - 11:00

SOCIAL SECURITY (ESEM TAE)
Chairperson: Ken Tabata, Kobe City University of Foreign Studies

Room B-8


 

AN EGG TODAY AND A CHICKEN TOMORROW: A POSITIVE MODEL OF SOCIAL SECURITY WITH QUASI-HYPERBOLIC DISCOUNTING
Matteo Bassi, Université de Toulouse 1 - GREMAQ

 

 

MARKOV PERFECT POLITICAL EQUILIBRIUM WITH SOCIAL SECURITY: THE ROLE OF EDUCATION COST
Ryo Arawatari, Graduate School of Economics, Osaka University
Co-Author: Tetsuo Ono, Graduate School of Economics, Osaka University

 

 

SOCIAL SECURITY AND THE SEARCH BEHAVIOR OF WORKERS APPROACHING RETIREMENT
Alfonso R Sanchez Martin, Universidad Pablo Olavide, Sevilla
Co-Author: J. Ignacio García-Pérez, Universidad Pablo de Olavide

 

 

SPILLOVER EFFECTS OF POPULATION AGING, INTERNATIONAL CAPITAL FLOWS, AND WELFARE
Ken Tabata, Kobe City University of Foreign Studies
Co-Author: Hiroyuki Ito, Graduate School of Economics, Osaka University

 


09:00 - 11:00

CONTRIBUTED SESSIONS 5
ESEM: Econometrics and Empirical Economics


 


09:00 - 11:00

CONSUMER BEHAVIOUR 2 (ESEM EEE)
Chairperson: John Krainer, Federal Reserve Bank of San Francisco

Room B-6


 

A MODEL OF FEMALE BREADWINNERSHIP: IS SHE OUTEARNING HIM?
Elena Stancanelli, CNRS, GREDEG Nice, OFCE Sciences-Po Paris
Co-Author: Hans Bloemen, Free University Amsterdam

 

 

MODELLING VULNERABILITY IN THE UK
Sanghamitra Bandyopadhyay, London School of Economics
Co-Author: Frank Cowell, London School of Economics

 

 

INNOVATIONS IN MORTGAGE MARKETS AND INCREASED SPENDING ON HOUSING
John Krainer, Federal Reserve Bank of San Francisco
Co-Author: Mark Doms, Federal Reserve Bank of San Francisco

 


09:00 - 11:00

CORPORATE FINANCE (ESEM EEE)
Chairperson: Bruno Funchal, FUCAPE Business School

Room B-5


 

HOW MUCH DEBTORS' PUNISHMENT?
Bruno Funchal, FUCAPE Business School

 

 

THE IMPACT OF BANK SIZE ON MARKET POWER
Laura Spierdijk, University of Groningen
Co-Authors: Jacob A. Bikker, De Nederlandsche Bank and Paul Finnie, UBS

 

 

CORPORATE GOVERNANCE AND EXECUTIVE PAY: EVIDENCE FROM A RECENT REFORM
Teodora Paligorova, CERGE

 

 

DO INVESTMENT BANKING ACTIVITIES REDUCE THE RISK OF US BANKS?
Valeriya Dinger, University of Bonn
Co-Author: Lin Lin, China Investment Construction Bank

 


09:00 - 11:00

ECONOMETRICS OF EDUCATION (ESEM EEE)
Chairperson: Lars Nesheim, University College London

Room B-2


 

SCHOOL QUALITY AND SORTING
Lars Nesheim, University College London

 

 

SUBJECTIVE BELIEFS AND SCHOOLING DECISIONS
Christian Belzil, CNRS (GATE)/ IZA

 

 

GOING BEYOND RETURNS TO EDUCATION: THE ROLE OF NONCOGNITIVE SKILLS ON WAGES IN GERMANY
Rémi Piatek, University of Konstanz
Co-Authors: Anton Flossmann, Department of Economics, University of Konstanz and Laura Wichert, University of Konstanz

 


09:00 - 11:00

HIGH FREQUENCY FINANCIAL ECONOMETRICS 2 (ESEM EEE)
Chairperson: Abderrahim Taamouti, Department of Economics, University of Montreal

Room B-1


 

MULTIVARIATE REDUCED RANK REGRESSION IN NON-GAUSSIAN CONTEXTS, USING COPULAS
Andreas Heinen, Universidad Carlos III de MAdrid
Co-Author: Erick Rengifo Minaya, Fordham University

 

 

NEWS - GOOD OR BAD - AND ITS IMPACT OVER MULTIPLE HORIZONS
Eric Ghysels, UNC, Chapel Hill

 


 

 

ON INTRADAY TIME-REVERSIBILITY OF RETURN PROCESSES
Stefan Klößner, Saarland University

 

 

MEASURING CAUSALITY BETWEEN VOLATILITY AND RETURNS WITH HIGH-FREQUENCY DATA
Abderrahim Taamouti, Department of Economics, University of Montreal
Co-Authors: Jean-Marie Dufour, U de Montreal and Rene Garcia, Montreal

 


09:00 - 11:00

INDUSTRIAL ORGANISATION 1 (ESEM EEE)
Chairperson: Sabien Dobbelaere, Ghent University

Room B-4


 

PRODUCT AND LABOR MARKET IMPERFECTIONS AND INDUSTRY AND FIRM HETEROGENEITY IN PANEL DATA ESTIMATES OF THE PRODUCTION FUNCTION
Sabien Dobbelaere, Ghent University
Co-Author: Jacques Mairesse, CREST-INSEE

 

 

MARKET POWER OF STATE COMMERCIAL BANKS IN CHINA: EVIDENCE FROM DEPOSIT MARKET
Chun-Yu Ho, Boston University

 

 

JOINT MODELING OF THE DYNAMICS OF INNOVATION ACTIVITIES, R&D INVESTMENTS AND INNOVATIVE SALES
Wladimir Raymond, Universiteit Maastricht
Co-Authors: Pierre Mohnen, Universiteit Maastricht, Franz Palm, Universiteit Maastricht and Sybrand Schim van der Loeff, Universiteit Maastricht

 

 

LOCAL CORPORATE TAXES MATTER FOR PLANTS LOCATION DECISION: EVIDENCE FROM FRENCH MICRO DATA
Roland Rathelot, INSEE-CREST
Co-Author: Patrick Sillard, INSEE-CREST

 


09:00 - 11:00

INFLATION 2 (ESEM EEE)
Chairperson: Luca Fanelli, Department of Statistics, University of Bologna

Room A-7


 

AN EMPIRICALLY RELEVANT MODEL OF INFLATION IN THE EURO AREA
Christin Kyrme Tuxen, Department of Economics, Uni of Copenhagen and Nuffield College, Uni of Oxford

 

 

DOMESTIC AND GLOBAL DETERMINANTS OF THE U.S. INFLATION EXPECTATIONS
Efrem Castelnuovo , University of Padua

 

 

EVALUATING THE NEW KEYNESIAN PHILLIPS CURVE UNDER VAR-BASED LEARNING
Luca Fanelli, Department of Statistics, University of Bologna

 


09:00 - 11:00

POLITICAL ECONOMY (ESEM EEE)
Chairperson: Ricardo Madeira, University of São Paulo

Room A-5



 

 

THE MEDIAN IDEAL POLICY IN MIXED MARKETS FOR EDUCATION: EVIDENCE FROM BRAZIL
Ricardo Madeira, University of São Paulo
Co-Author: Gustavo Vicentini, Analysis Group

 

 

DO FISCAL TRANSFERS ALLEVIATE BUSINESS TAX COMPETITION? EVIDENCE FROM GERMANY
Marko Koethenbuerger, University of Munich, CES
Co-Authors: Peter Egger, CES ifo and Michael Smart, University of Toronto

 

 

HOMO RECIPROCANS: SURVEY EVIDENCE ON PREVALENCE, BEHAVIOR AND SUCCESS
Thomas Dohmen, IZA/Bonn
Co-Authors: Armin Falk, University of Bonn, David Huffman, IZA/Bonn and Uwe Sunde, IZA Bonn

 


09:00 - 11:00

TIME SERIES 3 (ESEM EEE)
Chairperson: Carlos Velasco, UC3 Madrid

Room A-2


 

CONSISTENT ESTIMATION OF GLOBAL VAR MODELS
Jan Mutl, Goethe University Frankfurt

 

 

LARGE POOLING TIME SERIES AND CROSS SECTIONAL DATA FOR THE ANALYSIS OF DYNAMIC MARKETING SYSTEMS
Csilla Horvath, Nijmegen School of Management
Co-Author: Jaap E. Wieringa, Faculty of Economics, University of Groningen

 

 

STUDYING INTERACTIONS WITHOUT MULTIVARIATE MODELLING
Alain Hecq, University of Maastricht
Co-Authors: Gianluca Cubadda, Università di Roma "Tor Vergata" and Franz Palm, Universiteit Maastricht

 

 

SPECIFICATION TESTS OF PARAMETRIC DYNAMIC CONDITIONAL QUANTILES
Carlos Velasco, UC3 Madrid
Co-Author: Juan Carlos Escanciano, Indiana University

 


09:00 - 11:00

UNIT ROOTS 1 (ESEM EEE)
Chairperson: David Harvey, University of Nottingham

Room A-3


 

TESTING FOR A UNIT ROOT WHEN UNCERTAIN ABOUT THE TREND
David Harvey, University of Nottingham
Co-Authors: Stephen Leybourne, University of Nottingham and Robert Taylor, University of Nottingham

 

 

GLS-BASED UNIT ROOT TESTS WITH MULTIPLE STRUCTURAL BREAKS BOTH UNDER THE NULL AND THE ALTERNATIVE HYPOTHESE
Josep Lluís Carrion-i-Silvestre, University of Barcelona
Co-Authors: Dukpa Kim, Boston University and Pierre Perron, Boston University

 


 


11:00 - 11:30

COFFEE BREAK


 


11:30 - 13:30

CONTRIBUTED SESSIONS 6
EEA


 


11:30 - 13:30

GROWTH: EMPIRICAL STUDIES (EEA)
Chairperson: Andreas Irmen, University of Heidelberg

Room U-21


 

RENTAL PRICES, RATES OF RETURN, CAPITAL AGGREGATION AND PRODUCTIVITY: EVIDENCE FROM EU COUNTRIES
Abdul Azeez Erumban, University of Groningen

 

 

INTERNATIONAL TFP DYNAMICS AND INCOME CONVERGENCE. A PANEL DATA ANALYSIS
Francesco Pigliaru, Università di Cagliari and Crenos
Co-Authors: Piergiorgio Chelucci, Crenos and Adriana Di Liberto, Università di Cagliari and Crenos

 

 

CROSS-COUNTRY INCOME DIFFERENCES AND TECHNOLOGY TRANSFER IN A COMPETITIVE WORLD
Andreas Irmen, University of Heidelberg

 


11:30 - 13:30

MONETARY ISSUES IN THE EURO AREA (EEA)
Chairperson: Bettina Becker, Loughborough University

Room U-19


 

DOES MONEY HELP TO FORECAST INFLATION IN THE EURO AREA?
Michele Lenza, European Central Bank

 

 

NATIONAL INFLATION RATE DIFFERENTIALS AND BUSINESS CYCLES FLUCTUATIONS IN THE EURO AREA
Christian Proano Acosta, Bielefeld University

 

 

THE MAASTRICHT CONVERGENCE CRITERIA AND THE OPTIMAL MONETARY POLICY FOR THE EMU ACCESSION COUNTRIES
Anna Lipinska, IDEA, UAB; CEP, LSE

 

 

MEASURING CONVERGENCE OF THE NEW MEMBER COUNTRIES’ EXCHANGE RATES TO THE EURO
Bettina Becker, Loughborough University
Co-Author: Stephen Hall, Leicester University

 


11:30 - 13:30

MONETARY POLICY AND THE LABOUR MARKET (EEA)
Chairperson: Ester Faia, Universitat Pompeu Fabra

Room U-18


 

PRODUCTIVITY SHOCKS AND OPTIMAL MONETARY POLICY IN A UNIONIZED LABOR MARKET ECONOMY
Lorenza Rossi, Università Cattolica del Sacro Cuore - Milano
Co-Author: Fabrizio Mattesini, Università di Roma Tor Vergata

 

 

NOMINAL RIGIDITIES, REAL WAGE RIGIDITIES AND OPTIMAL MONETARY POLICY
Xavier Fairise, Université d''Evry-Val-d''Essonne
Co-Author: Stéphane Moyen, Université d'Evry-Val-d'Essonne

 

 

SEARCH AND MATCHING FRICTIONS AND OPTIMAL MONETARY POLICY
Carlos Thomas, London School of Economics

 

 

OPTIMAL MONETARY POLICY RULES WITH LABOR MARKET FRICTIONS
Ester Faia, Universitat Pompeu Fabra

 


11:30 - 13:30

LABOR MARKETS (EEA)
Chairperson: Francesca Mazzolari, University of California Irvine

Room U-16


 

AGE EFFECTS ON EQUILIBRIUM UNEMPLOYMENT
Carsten Ochsen, University of Rostock
Co-Author: Pascal Hetze, University of Rostock

 

 

FIRM DYNAMICS, LABOR MOBILITY, AND SPECIFIC HUMAN CAPITAL
Hodaka Morita, School of Economics, University of New South Wales

 

 

SENIORITY AND JOB STABILITY: A QUANTILE REGRESSION APPROACH USING MATCHED EMPLOYER-EMPLOYEE DATA
Bernhard Boockmann, Centre for European Economic Research (ZEW)
Co-Author: Susanne Steffes, Centre for European Economic Research

 

 

THE DYNAMICS OF LOW-SKILL LABOR OUTCOMES: AN ANALYSIS AT THE LOCAL LABOR MARKET LEVEL
Francesca Mazzolari, University of California Irvine
Co-Author: Giuseppe Ragusa, University of California Irvine

 


11:30 - 13:30

PERSONNEL ECONOMICS: WAGES AND PRODUCTIVITY (EEA)
Chairperson: Gareth Leeves, University of Queensland

Room U-14


 

THE EVOLUTION OF INEQUALITY IN PRODUCTIVITY AND WAGES: PANEL DATA EVIDENCE
Giulia Faggio, London School of Economics
Co-Authors: Kjell Salvanes, NHH and John Van Reenen, London School of Economics

 

 

DO INITIAL CONDITIONS PERSIST BETWEEN FIRMS? AN ANALYSIS OF FIRM-ENTRY COHORT EFFECTS AND JOB LOSERS USING MATCHED EMPLOYER-EMPLOYEE DATA
Stefan Bender, European Economic Association
Co-Author: Till Von Wachter, Columbia University

 

 

SHOP LABOUR PRODUCTIVITY, MANAGEMENT QUALITY AND PAY IN A UK RETAIL NETWORK
Nikolay Zubanov, Birmingham Business School, University of Birmingham
Co-Author: W Stanley Siebert, University of Birmingham

 

 

EMPLOYMENT CONTRACTS AND EFFORT: WHY DO TEMPORARY WORKERS TAKE LESS ABSENCE?
Gareth Leeves, University of Queensland
Co-Authors: Steve Bradley, Lancaster University and Colin Green, Lancaster University

 


11:30 - 13:30

CURRENT ACCOUNT, EXCHANGE RATES AND PORTFOLIOS (EEA)
Chairperson: Nicolas Coeurdacier, ESSEC Business School

Room U-11


 

COUNTRY SIZE AND THE TRANSFER EFFECT
Vahagn Galstyan, Trinity College Dublin, IIIS

 

 

MULTILATERAL ADJUSTMENT AND EXCHANGE RATE DYNAMICS: THE CASE OF THREE COMMODITY CURRENCIES
Lawrence Schembri, Bank of Canada

 

 

ON THE DETERMINANTS OF NET INTERNATIONAL CAPITAL FLOWS: A GLOBAL PERSPECTIVE
Roberto De Santis, ECB

 

 

DO TRADE COSTS IN GOODS MARKETS LEAD TO HOME BIAS IN EQUITIES?
Nicolas Coeurdacier, ESSEC Business School

 


11:30 - 13:30

ECONOMIC GEOGRAPHY I (EEA)
Chairperson: Marc Schramm, Utrecht Unversity

Room U-7


 

GROWTH EFFECTS OF SPATIAL REDISTRIBUTION POLICIES
Calin Arcalean, Indiana University
Co-Authors: Gerhard Glomm, Indiana University and Ioana Schiopu, Indiana Universisty

 

 

MIGRANTS AND MARKET POTENTIAL IN SPAIN OVER THE XXTH CENTURY: A TEST OF THE NEW ECONOMIC GEOGRAPHY
Daniel A. Tirado, Universitat de Barcelona
Co-Authors: Elisenda Paluzie, CAEPS, Universitat de Barcelona, Jordi Pons, Universitat de Barcelona and Javier Silvestre, Universidad de Zaragoza

 

 

ADDING GEOGRAPHY TO THE NEW ECONOMIC GEOGRAPHY
Marc Schramm, Utrecht Unversity
Co-Authors: Maarten Bosker, Utrecht School of Economics, Steven Brakman, Groningen University and Harry Garretsen, Utrecht University

 


11:30 - 13:30

EMPLOYMENT (EEA)
Chairperson: Andri Chassamboulli, National Bank of Hungary and Central European University

Room U-10


 

EMPLOYMENT, WORKING TIME AND ADJUSTMENT COSTS: A STRUCTURAL ESTIMATION
Nicolas Roys, University of Paris 1, University College London and IFS

 

 

EMPLOYMENT, INNOVATION, AND PRODUCTIVITY: EVIDENCE FROM ITALIAN MICRODATA
Francesca Lotti, Bank of Italy
Co-Authors: Bronwyn Hall, University of California at Berkeley and University of Maastricht. and Jacques Mairesse, CREST-INSEE

 

 

SELF-EMPLOYMENT DYNAMICS, CROSS-MOBILITY PATTERNS AND TRUE STATE DEPENDENCE
Arne Uhlendorff, DIW Berlin, IZA
Co-Author: Marco Caliendo, DIW Berlin

 

 

CYCLICAL VARIATION IN MATCH QUALITY: THE ROLE OF UNEMPLOYMENT RISK
Andri Chassamboulli, National Bank of Hungary and Central European University

 


11:30 - 13:30

INTERNATIONAL TRADE (EEA)
Chairperson: Jürgen Bitzer, University of Applied Sciences OOW at Emden

Room U-22


 

MANAGING TRADE DURING THE FORMATION OF CUSTOMS UNIONS
Chrysostomos Tabakis, Universidade Nova de Lisboa

 

 

INTERNATIONAL TRADE AND RETAILING: DIVERSITY VERSUS ACCESSIBILITY AND THE CREATION OF "RETAIL DESERTS"
Carsten Eckel, University of Goettingen

 

 

CREDIT CONSTRAINTS AND ZERO TRADE FLOWS: THE ROLE OF FINANCIAL DEVELOPMENT
Antoine Berthou, University Paris 1 Panthéon - La Sorbonne

 

 

CAN TRADE HURT? A FOLLOW-UP ON SAMUELSON'S CONTROVERSIAL PAPER
Jürgen Bitzer, University of Applied Sciences OOW at Emden
Co-Authors: Holger Görg, University of Nottingham and Philipp J.H. Schröder, Aarhus School of Business - University of Aarhus

 


11:30 - 13:30

INTERNATIONAL TRADE AND FIRM HETEROGENEITY (EEA)
Chairperson: Itai Agur, European University Institute

Room U-20


 

CAN FIRMS' LOCATION DECISIONS COUNTERACT THE BALASSA-SAMUELSON EFFECT ?
Isabelle Méjean, CEPII, University of Paris 1

 

 

TRADE LIBERALIZATION, ENDOGENOUS LOCATION AND FIRM HETEROGENEITY
Vincent Rebeyrol, Université Paris 1 Panthéon Sorbonne. Centre Economie Sorbonne and PSE

 


 

 

FIRM EXPORT DYNAMICS AND THE GEOGRAPHY OF TRADE
Martina Lawless, Central Bank of Ireland

 

 

FIRM HETEROGENEITY AND THE TWO SOURCES OF GAINS FROM TRADE
Itai Agur, European University Institute

 


11:30 - 13:30

FINANCE AND MARKET STRUCTURE (EEA)
Chairperson: Falko Fecht, Deutsche Bundesbank

Room U-17


 

INVESTMENT BEHAVIOR OF STOCK EXCHANGES AND THE RATIONALE FOR DEMUTUALIZATION - THEORY AND EMPIRICAL EVIDENCE
Marcel Tyrell, Goethe University Frankfurt
Co-Author: Baris Serifsoy, Goethe University Frankfurt

 

 

THE IMPACT OF BANKING MARKET POWER ON CREDIT RATIONING, EFFICIENCY AND INCOME
Kerstin Gerling, University of Mannheim

 

 

FINANCIAL INTEGRATION, SPECIALISATION, AND SYSTEMIC RISK
Falko Fecht, Deutsche Bundesbank
Co-Authors: Hans Peter Grüner, Universität Mannheim and Philipp Hartmann,

 

 

MISSPECIFICATION OF THE PANZAR-ROSSE MODEL: ASSESSING COMPETITION IN THE BANKING INDUSTRY
Laura Spierdijk, University of Groningen
Co-Authors: Jacob A. Bikker, De Nederlandsche Bank and Paul Finnie, UBS

 


11:30 - 13:30

FISCAL POLICY AND THE MACROECONOMY (EEA)
Chairperson: Luca Sessa, Universitat Pompeu Fabra; Bank of Italy

Room U-15


 

CHANGING PATTERNS OF DOMESTIC AND CROSS-BORDER FISCAL POLICY MULTIPLIERS IN EUROPE AND THE US
Jacopo Cimadomo, ECARES-ULB and CEPII
Co-Author: Agnès Bénassy-Quéré, CEPII

 

 

THE MACROECONOMIC EFFECTS OF EXOGENOUS FISCAL POLICY SHOCKS IN GERMANY: A DISAGGREGATED SVAR ANALYSIS
Jörn Tenhofen, University of Bonn
Co-Authors: Kirsten Heppke-Falk, Deutsche Bundesbank and Guntram WOLFF, Deutsche Bundesbank, University of Pittsburgh

 

 

THE CYCLICALITY OF CONSUMPTION, WAGES AND EMPLOYMENT OF THE PUBLIC SECTOR IN THE EURO AREA
Ana Lamo, European Central Bank
Co-Authors: Javier J. Perez, European Central Bank and Ludger Schuknecht, European Central Bank

 

 

THE GENERAL EQUILIBRIUM EFFECTS OF FISCAL POLICY: ESTIMATES FOR THE EURO AREA
Luca Sessa, Universitat Pompeu Fabra; Bank of Italy
Co-Authors: Lorenzo Forni , banca d'italia and libero monteforte, banca d'italia

 


11:30 - 13:30

INFLATION AND RELATIVE PRICE DYNAMICS (EEA)
Chairperson: Fabio Ghironi, Boston College

Room U-13


 

RELATIVE PRICE FLUCTUATIONS UNDER IMPERFECT COMPETITION
Alain Gabler, European University Institute

 

 

PRICING POLICIES AND INFLATION DYNAMICS
Michael Kumhof, IMF
Co-Authors: Luis Cespedes, Ministry of Finance and Eric Parrado, Central Bank, Chile

 

 

RELATIVE PRICE DYNAMICS AND THE AGGREGATE ECONOMY
Fabio Ghironi, Boston College
Co-Authors: Charles Carlstrom, Federal Reserve Bank of Cleveland, Timothy Fuerst, Bowling Green State University and Kolver Hernandez, University of Delaware

 


11:30 - 13:30

INFORMATION AND COMMUNICATION TECHNOLOGY AND GROWTH (EEA)
Chairperson: Hannu Piekkola, The Research Institute of The Finnish Economy

Room U-12


 

THE EFFECTS OF HUMAN CAPITAL ON OUTPUT GROWTH IN ICT INDUSTRIES: EVIDENCE FROM OECD COUNTRIES
Iulia Traistaru-Siedschlag, Economic and Social Research Institute
Co-Author: Gavin Murphy, Economic and Social Research Institute

 

 

ACCESS TO AND ECONOMIC IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGIES (ICTS) IN DEVELOPING COUNTRIES
Markus Haacker, International Monetary Fund

 

 

INFORMATION AND COMMUNICATION TECHNOLOGIES IN A MULTI-SECTOR ENDOGENOUS GROWTH MODEL
Evangelia Vourvachaki, LSE, CEP

 

 

INNOVATION GAP AND GROWTH IN A KNOWLEDGE ECONOMY
Hannu Piekkola, The Research Institute of the Finnish Economy

 


11:30 - 13:30

INSTITUTIONS, SOCIAL CAPITAL AND CIVIL SOCIETY (EEA)
Chairperson: Peter Grajzl, Central European University

Room U-8



 

 

THE GREAT TRANSITION: DOES CIVIL SOCIETY DEVELOPMENT HELP EXPLAIN INSTITUTIONAL CHANGE SINCE1985?
Jan Fidrmuc, Brunel University
Co-Authors: Laszlo Bruszt, European University Institute, Florence, Nauro Campos, Brunel University and Gerard Roland, University of California - Berkeley

 

 

DOES DEMOCRACY FOSTER TRUST?
Helmut Rainer, University of St Andrews

 

 

SOCIAL CAPITAL AND RELATIVE INCOME CONCERNS: EVIDENCE FROM 26 COUNTRIES      

Presenter(s): Justina AV Fischer, Stockholm School of Economics           

Co-Author(s): Benno Torgler, University of Berkeley

 

 

 

FOSTERING CIVIL SOCIETY TO BUILD INSTITUTIONS: WHY AND WHEN
Peter Grajzl, Central European University
Co-Author: Peter Murrell, University of Maryland

 


11:30 - 13:30

THE IMPORTANCE OF GENDER I (EEA)
Chairperson: Berta Esteve-Volart, York University

Room U-6


 

FEMALE MANAGERS AND THEIR WAGES IN CENTRAL EUROPE
Teodora Paligorova, CERGE
Co-Author: Stepan Jurajda,

 

 

ENTREPRENEURS' GENDER AND FINANCIAL CONSTRAINTS: EVIDENCE FROM INTERNATIONAL DATA
Alexander Muravyev, European University Institute and DIW Berlin
Co-Authors: Dorothea Schäfer, DIW-Berlin and Oleksandr Talavera, DIW-Berlin

 

 

WILL GENDER PARITY BREAK THE GLASS CEILING? EVIDENCE FROM A RANDOMIZED EXPERIMENT
Berta Esteve-Volart, York University
Co-Author: Manuel Bagues, Universidad Carlos III

 


11:30 - 13:30

TOPICS IN GAME THEORY II (EEA)
Chairperson: Kris De Jaegher, Utrecht School of Economics

Room U-4


 

COOPERATIVE EQUILIBRIA IN REPEATED GAMES WITH ENDOGENOUS MATCHING DECISION
Heiner Schumacher, University of Mannheim, Department of Economics

 

 

ENDOGENOUS SYMMETRIC PUNISHMENT
Alia Gizatulina, University of Mannheim, CDSE

 

 

RANKING OF ACADEMIC JOURNALS BY TOURNAMENT METHODS
László Á. Kóczy, Maastricht University
Co-Author: Martin Strobel, Maastricht University

 

 

EFFICIENT COMMUNICATION IN THE ELECTRONIC MAIL GAME
Kris De Jaegher, Utrecht School of Economics

 

 



11:30 - 13:30

WAGES AND UNEMPLOYMENT (EEA)
Chairperson: Yolanda Rebollo, Universidad Pablo de Olavide

Room U-2


 

THE LONG-RUN DETERMINANTS OF UK WAGES, 1860-2004
Jennifer Castle, University of Oxford
Co-Author: David F. Hendry, University of Oxford

 

 

THE USE OF PERMANENT CONTRACTS ACROSS SPANISH REGIONS: DO REGIONAL WAGE SUBSIDIES WORK?
Yolanda Rebollo, Universidad Pablo de Olavide
Co-Author: J. Ignacio García-Pérez, Universidad Pablo de Olavide

 

 

COMPARING THE EFFECTIVENESS OF EMPLOYMENT SUBSIDIES
Alessio Julian Gerard Brown, Kiel Institute for the World Economy and Kiel CAU University
Co-Authors: Christian Merkl, Kiel Institute for the World Economy and Dennis Snower, Kiel Institute for the World Economy

 


11:30 - 13:30

YIELD CURVE (EEA)
Chairperson: Andreas Schrimpf, Centre for European Economic Research

Room U-1


 

BONDS YIELDS REACTION TO NEWS IN THEIR FUNDAMENTALS
Joelle Liebermann, ULB ECARES

 

 

ENDOGENOUS STATE PRICES, LIQUIDITY, DEFAULT AND THE YIELD CURVE
Raphael Espinoza, University of Oxford
Co-Authors: Charles A. E. Goodhart, Financial Markets Group, London School of Economics and Dimitrios Tsomocos, Saïd Business School and St. Edmund Hall, University of Oxford

 

 

IS LESS MORE ? ALTERNATIVE YIELD CURVE MEASURES AND THEIR TIME-VARYING PREDICTIVE CONTENT FOR REAL ACTIVITY
Andreas Schrimpf, Centre for European Economic Research
Co-Author: Qingwei Wang, Centre for European Economic Research

 


11:30 - 13:30

POLITICAL ECONOMY: ELECTION OUTCOMES AND GOVERNMENT DURABILITY (EEA)
Chairperson: Emanuel Kohlscheen, University of Warwick

Room U-9


 

CONSUMER CONFIDENCE AND ELECTIONS
Gikas Hardouvelis, University of Piraeus and EFG Eurobank
Co-Author: Dimitrios Thomakos, University of Peloponnese

 

 

THE LOOKS OF A WINNER: BEAUTY, GENDER AND ELECTORAL SUCCESS
Henrik Jordahl, Research Institute of Industrial Economics
Co-Authors: Berggren Niclas, Ratio and Panu Poutvaara, University of Helsinki

 

 

TERRORISM AND CABINET DURABILITY: EMPIRICAL EVIDENCE
Richard Jong-A-Pin, University of Groningen
Co-Authors: Martin Gassebner, ETH Zurich and Jochen Mierau, University of Groningen

 

 

INTERNATIONAL ECONOMIC CONDITIONS AND ELECTION OUTCOMES
Emanuel Kohlscheen, University of Warwick
Co-Author: Dennis Novy, University of Warwick

 


11:30 - 13:30

CONTRIBUTED SESSIONS 6
ESEM: Theoretical and Applied Economics


 


11:30 - 13:30

BARGAINING AND GAMES (ESEM TAE)
Chairperson: Aljaz Ule, University of Amsterdam

Room B-12


 

COMMITMENT GAMES
Ludovic Renou, University of Leicester

 

 

DETECTING THE CULPRIT
Shyh-fang Ueng, Department of Economics, National Chung-Cheng University

 

 

MULTIPLE STOCHASTICALLY STABLE EQUILIBRIA IN COORDINATION GAMES
Toshimasa Maruta, Nihon University
Co-Author: Akira Okada, Hitotsubashi University

 

 

COOPERATION WITH A COMPETITION FOR PARTNERS
Aljaz Ule, University of Amsterdam

 


11:30 - 13:30

EDUCATION (ESEM TAE)
Chairperson: Bernhard Eckwert, Bielefeld University

Room B-11


 

SPECIALIZATION IN HIGHER EDUCATION
Sinan Sarpca, Koc University

 

 

WAS WEBER WRONG? A HUMAN CAPITAL THEORY OF PROTESTANT ECONOMIC HISTORY
Ludger Woessmann, University of Munich and Ifo Institute
Co-Author: Sascha O. Becker, University of Munich

 

 

MIGRATION BEHAVIOUR AND DURATION OF RESIDENCE SPELLS OF GRADUATING STUDENTS IN FINLAND IN 1987–2002
Mika Haapanen, University of Jyväskylä
Co-Author: Hannu Tervo, University of Jyväskylä

 

 

PRIVATE INVESTMENT IN HIGHER EDUCATION: COMPARING ALTERNATIVE FUNDING SCHEMES
Bernhard Eckwert, Bielefeld University
Co-Author: Itzhak Zilcha, Tel Aviv University

 


11:30 - 13:30

HIDDEN INFORMATION AND MARKET STRUCTURE (ESEM TAE)
Chairperson: Fabrizio Adriani, CeFiMS - SOAS - University of London

Room B-8


 

CREDENCE GOODS MARKETS WITH SELFISH AND CONSCIENTIOUS EXPERTS
Ting Liu, Boston University

 

 

PROFESSIONAL REPUTATION, CASH, AND TRANSITION TO ENTREPRENEURIAL ACTIVITY
Frederic Loss, Conservatoire National des Arts et Métiers - Paris
Co-Author: Antoine Renucci, Université Paris-Dauphine

 

 

STORAGE AND MARKET POWER: THE INFLUENCE OF SPECULATION ON MONOPOLY
Henry Thille, University of Guelph
Co-Author: Sebastien Mitraille, Toulouse Business School

 

 

THE MONOPOLIST'S BLUES
Fabrizio Adriani, CeFiMS - SOAS - University of London
Co-Author: Luca Deidda, Universidad de Navarra

 


11:30 - 13:30

INTERNATIONAL FINANCE (ESEM TAE)
Chairperson: George Vachadze, Bielefeld University

Room B-6


 

SUBSIDY COMPETITION AND THE MODE OF FDI: ACQUISITION VS GREENFIELD
Gregory Corcos, NHH
Co-Author: Facundo Albornoz, University of Birmingham

 

 

EXCHANGE RATE VOLATILITY AND PRODUCTIVITY GROWTH: THE ROLE OF LIABILITY DOLLARIZATION
Kenza Benhima, CREST, University of Paris X - Nanterre

 

 

THE COMPOSITION OF CAPITAL FLOWS WHEN EMERGING MARKET FIRMS FACE FINANCING CONSTRAINTS
Diego Valderrama, FRB of San Francisco
Co-Author: Katherine Smith, US Naval Academy

 

 

RISK, FACTOR SUBSTITUTION, AND ASSET MARKET INTEGRATION
George Vachadze, Bielefeld University
Co-Author: Volker Boehm, Bielefeld University

 


11:30 - 13:30

MIGRATION AND MOBILITY (ESEM TAE)
Chairperson: Christelle Viauroux, University of Cincinnati

Room B-5


 

IMMIGRATION POLICY, EQUILIBRIUM UNEMPLOYMENT, AND UNDERINVESTMENT IN HUMAN CAPITAL
Christian Lumpe, Justus-Liebig-University Giessen
Co-Author: Benjamin Weigert, Justus-Liebig-University Gießen

 


 

 

THE (SELF-)SELECTION OF INTERNATIONAL MIGRANTS RECONSIDERED: THEORY AND NEW EVIDENCE
Herbert Brücker, Institute for Employment Research (IAB)
Co-Author: Cécily Defoort, EQUIPPE -University of Lille/ IRES - Catholic University of Louvain

 

 

MOBILITY AS DISTRIBUTIONAL DIFFERENCE
Dirk Van de gaer, SHERPPA (Ghent University) and CORE (Louvain-la-Neuve)
Co-Author: Christian Schluter, University of Southampton

 

 

JOB MATCHING THROUGH OCCUPATIONAL EXPERIENCE
Christelle Viauroux, University of Cincinnati
Co-Author: Robert A. Miller, Tepper School of Business

 


11:30 - 13:30

MONETARY POLICY AND HETEROGENEITY (ESEM TAE)
Chairperson: Paul McNelis, Fordham University

Room B-2


 

CENTRAL BANK DESIGN WITH HETEROGENEOUS AGENTS
Carlo Strub, University of Basel
Co-Author: Aleksander Berentsen, University of Basel

 

 

INFLATION AND INEQUALITY
Fabia Carvalho, University of Brasilia and Central Bank of Brazil
Co-Author: Danniel Lafeta, University of Brasilia and Central Bank of Brazil

 

 

INCOMPLETE MARKETS AND THE OUTPUT-INFLATION TRADEOFF
Edouard Challe, CNRS
Co-Authors: Yann Algan, Université de Marne-la-Vallée and Xavier Ragot, CNRS

 

 

THE MONEY-AGE DISTRIBUTION: EMPIRICAL FACTS AND LIMITED MONETARY MODELS
Paul McNelis, Fordham University

 


11:30 - 13:30

SOCIAL NORMS AND SOCIAL NETWORK I (ESEM TAE)
Chairperson: Eleonora Patacchini, University of Roma "La Sapienza"

Room B-10


 

ON THE EMERGENCE OF SOCIAL NORMS
Edward Cartwright, University of Kent

 

 

REPEATED GAMES PLAYED IN A NETWORK
Markus Kinateder, Universitat Autonoma de Barcelona

 

 

SOCIAL LEARNING AND CONSUMER DEMAND
Paul Niehaus, Harvard University

 

 

PEER EFFECTS AND SOCIAL NETWORKS IN EDUCATION
Eleonora Patacchini, University of Roma "La Sapienza"
Co-Authors: Antoni Calvó Armengol, Universitat Autonoma Barcelona and Yves Zenou, Research Institute of Industrial Economics

 

 



11:30 - 13:30

BANKING (ESEM TAE)
Chairperson: Rafael Repullo, CEMFI

Room B-13


 

BANK COMPETITION AND CAPITAL REGULATION
Hendrik Hakenes, Max Planck Institute for Research on Collective Goods
Co-Author: Isabel Schnabel, Max Planck Institute for Research on Collective Goods

 

 

HOW DOES COMPETITION IMPACT BANK RISK TAKING?
Gabriel Jimenez, Bank of Spain
Co-Authors: Jose Antonio Lopez, Federal Reserve Bank of San Francisco and Jesus Saurina, Banco de España

 

 

SYSTEMIC RISK AND LIQUIDITY IN PAYMENT SYSTEMS
Gara Minguez-Afonso, London School of Economics and Princeton University
Co-Author: Hyun Song Shin, Princeton University

 

 

THE PROCYCLICAL EFFECTS OF BASEL II
Rafael Repullo, CEMFI

 


11:30 - 13:30

SOCIAL CHOICE (ESEM TAE)
Chairperson: Salvador Barbera, Universitat Autonoma de Barcelona

Room B-9


 

ETHICALLY ROBUST COMPARISONS OF DISTRIBUTIONS OF TWO INDIVIDUALS ATTRIBUTES
Patrick Moyes, CNRS and GRETHA
Co-Author: Nicolas Gravel, CSH Delhi

 

 

ORDERING INFINITE UTILITY STREAMS : COMPLETENESS AT THE COST OF A NON-RAMSEY SET
Luc Lauwers, KULeuven Belgium

 

 

THE AGGREGATION OF PREFERENCES: CAN WE IGNORE THE PAST?
Stephane Zuber, Toulouse School of Economics

 

 

FREE TRIPLES, LARGE INDIFFERENCE CLASSES AND THE MAJORITY RULE
Salvador Barbera, Universitat Autonoma de Barcelona
Co-Author: Lars Ehlers, Universite de Montreal

 


11:30 - 13:30

CONTRIBUTED SESSIONS 6
ESEM: Econometrics and Empirical Economics


 


11:30 - 13:30

EXCHANGE RATES 3 (ESEM EEE)
Chairperson: Osbat Chiara, European Central Bank

Room B-1


 

ON THE MACROECONOMIC CAUSES OF EXCHANGE RATES VOLATILITY
Claudio Morana, Università del Piemonte Orientale

 

 

WHAT DO WE KNOW ABOUT REAL EXCHANGE RATE NON-LINEARITY? THE POWER OF UNIT ROOT TESTS VERSUS ESTAR AND MARKOV SWITCHING
Philipp Sibbertsen, University of Hannover
Co-Authors: Michael Froemmel, University of Hannover, Robinson Kruse, University of Hannover and Lukas Menkhoff, Leibniz Universität Hannover

 

 

WHAT DRIVES INVESTORS’ BEHAVIOUR IN DIFFERENT FX MARKET SEGMENTS? A VAR-BASED RETURN DECOMPOSITION ANALYSIS
Osbat Chiara, European Central Bank
Co-Authors: Olli Castren, European Central Bank and Matthias Sydow, European Central Bank

 


11:30 - 13:30

FINANCIAL ECONOMETRICS 4 (ESEM EEE)
Chairperson: Valeri Voev, University of Konstanz

Room B-4


 

EFFICIENT SEMIPARAMETRIC ESTIMATION OF THE FAMA-FRENCH MODEL AND EXTENSIONS
Matthias Hagmann-von Arx, Swiss Finance Institute and Concordia Advisors
Co-Authors: Gregory Connor, London School of Economics and Oliver Linton, LSE

 

 

EMPIRICAL PRICING KERNELS AND INVESTOR PREFERENCES
R. A. Moro, German Institute for Economic Research
Co-Authors: Kai Detlefsen, Institute for Statistics and Econometrics, School of Business and Economics, Humboldt-Universität zu Berlin and Wolfgang Hardle, Institute for Statistics and Econometrics, School of Business and Economics, Humboldt-Universität zu Berlin

 

 

PANEL INTENSITY MODELS WITH LATENT FACTORS: AN APPLICATION TO THE TRADING DYNAMICS ON THE FOREIGN EXCHANGE MARKET
Valeri Voev, University of Konstanz
Co-Author: Ingmar Nolte, University of Konstanz

 


11:30 - 13:30

INSTRUMENTS: WEAK OR STRONG (ESEM EEE)
Chairperson: Frank Windmeijer, University of Bristol

Room B-7


 

THE WEAK INSTRUMENT PROBLEM OF THE SYSTEM GMM ESTIMATOR IN DYNAMIC PANEL DATA MODELS
Frank Windmeijer, University of  Bristol
Co-Author: Maurice Bun, University of Amsterdam

 

 

A SPECIFICATION TEST FOR NONPARAMETRIC INSTRUMENTAL VARIABLE REGRESSION
Olivier Scaillet, University of Geneva
Co-Author: Patrick Gagliardini, University of Lugano

 

 

MORE ON CONFIDENCE INTERVALS FOR PARTIALLY IDENTIFIED PARAMETERS
Joerg Stoye, New York University

 


11:30 - 13:30

LABOUR MARKETS 3 (ESEM EEE)
Chairperson: Matthias Weiss, MEA, Universität Mannheim

Room B-3



 

 

EMPLOYMENT EFFECTS OF SHORT- AND MEDIUM-TERM TRAINING PROGRAMS IN GERMANY IN THE EARLY 2000S
Aderonke Osikominu, Goethe University Frankfurt
Co-Authors: Martin Biewen, Gutenberg University Mainz, Bernd Fitzenberger, Goethe University Frankfurt and Marie Waller, Goethe University Frankfurt

 

 

RETURNS TO SENIORITY: TIME OR RANK?
Sebastian Buhai, Aarhus School of Business, University of Aarhus & Tinbergen Institute
Co-Authors: Miguel Portela, , Coen Teulings, and Aico van Vuuren, Vrije Universiteit Amsterdam

 

 

AGE AND PRODUCTIVITY IN WORK TEAMS: EVIDENCE FROM THE ASSEMBLY LINE
Matthias Weiss, MEA, Universität Mannheim
Co-Authors: Axel Börsch-Supan, MEA, Mannheim University and Ismail Düzgün, MEA, Universität Mannheim

 


11:30 - 13:30

LONG MEMORY (ESEM EEE)
Chairperson: Fabrizio Iacone, University of York

Room A-5


 

SEMIPARAMETRIC DETECTION OF CHANGES IN LONG RANGE DEPENDENCE
Fabrizio Iacone, University of York
Co-Author: Stepana Lazarova, Queen Mary University of London

 

 

LOG PERIODOGRAM REGRESSION IN CORRELATED LONG MEMORY SIGNAL PLUS NOISE MODELS
Arteche Josu, University of the Basque Country

 

 

BIAS IN AUTOREGRESSIVE APPROXIMATIONS OF FRACTIONALLY INTEGRATED PROCESSES
Simone Grose, Monash University
Co-Author: Don Poskitt, Monash University and University of York

 

 

TYPE I AND TYPE II FRACTIONAL BROWNIAN MOTIONS: A RECONSIDERATION
James Davidson, School of Business and Economics, University of Exeter
Co-Author: Nigar Hashimzade, University of Exeter

 


11:30 - 13:30

PANEL DATA 2 (ESEM EEE)
Chairperson: Naoto Kunitomo, University of Tokyo

Room A-2


 

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

 

 

THRESHOLD AUTOREGRESSIVE MODELS IN DYNAMIC PANELS
Yongcheol Shin, Leeds University Business School

 


 

 

DETERMINANTS AND COSTS OF CURRENT ACCOUNT REVERSALS UNDER HETEROGENEITY AND SERIAL CORRELATION
Christian Aßmann, University of Kiel

 

 

A MONTE CARLO STUDY FOR PURE AND PRETEST ESTIMATORS OF A PANEL DATA MODEL WITH SPATIALLY AUTOCORRELATED DISTURBANCES
Badi Baltagi, Syracuse University
Co-Authors: Peter Egger, CES ifo and Michael Pfaffermayr, University of Innsbruck

 


11:30 - 13:30

POVERTY (ESEM EEE)
Chairperson: Marcus Tamm, RWI Essen

Room A-3


 

ALWAYS POOR OR NEVER POOR AND NOTHING IN BETWEEN? DURATION OF CHILD POVERTY IN GERMANY
Marcus Tamm, RWI Essen
Co-Author: Michael Fertig, RWI Essen

 

 

POVERTY ANALYSIS BASED ON KERNEL DENSITY ESTIMATES FROM GROUPED DATA
Camelia Minoiu, Columbia University

 

 

REGRESSION-BASED INEQUALITY DECOMPOSITION REVISITED: THE CASE OF KOREAN FARM HOUSEHOLDS
Ayal Kimhi, Hebrew University
Co-Authors: Yuko Arayama, Nagoya University and Jong Moo Kim, Sung Kyun Kwan University

 


11:30 - 13:30

TESTING 2 (ESEM EEE)
Chairperson: Sakata Shinichi, University of British Columbia

Room A-7


 

A ROBUST RANK SCORE TEST FOR NON-NESTED HYPOTHESES
Hsin-yi Lin, National Chengchi University

 

 

DUAL P-VALUES, EVIDENTIAL TENSION AND BALANCED TESTS
Don Poskitt, Monash University (University of York)
Co-Author: Arivalzahan Sengarapillai,

 

 

TESTING PARAMETER CONSTANCY ACROSS MANY GROUPS
Sakata Shinichi, University of British Columbia

 


11:30 - 13:30

TREATMENT EFFECTS AND PROGRAM EVALUATION 2 (ESEM EEE)
Chairperson: Alfonso Arellano, University of Alicante

Room A-4


 

CHILD CARE PROVISION: SEMIPARAMETRIC EVIDENCE FROM A RANDOMIZED EXPERIMENT IN MEXICO.
Marta Rubio-Codina, University College of London
Co-Author: Dubois Pierre, University of Toulouse

 


 

 

DOUBLE ROBUST SEMIPARAMETRIC EFFICIENT TESTS FOR DISTRIBUTIONAL TREATMENT EFFECTS UNDER THE CONDITIONAL INDEPENDENCE ASSUMPTION
Michael Maier, ZEW Mannheim

 

 

ESTIMATION OF EARNINGS- AND SCHOOLING CHOICE RELATIONS: A LIKELIHOOD BASED APPROACH
Arvid Raknerud, Statistics Norway
Co-Authors: John Dagsvik, Research Department, Statistics Norway and Torbjørn Hægeland, Statistics Norway

 

 

WHAT HAPPENS TO WORKERS' JOB MARKET PROFILE IN OUTPLACEMENT PROCESSES? A CAUSAL EFFECT APPROACH
Alfonso Arellano, University of Alicante

 


11:30 - 13:30

PANEL DISCUSSION ON ENERGY


 


11:30 - 13:30

PANEL DISCUSSION ON ENERGY (EEA)
Chairperson: Pippo Ranci, Universita’ Cattolica del Sacro Cuore di Milano European University Institute

Room A-6


 

PANEL DISCUSSION ON ENERGY

Discussant(s): Nadia Calvino, European Commission, Boaz Moselle, The Brattle Group, Paolo Scaroni, ENI, Laszlo Varro, MOL,  and Xavier Vives, IESE Business School

 


13:30 - 15:00

LUNCH


 


15:00 - 17:00

CONTRIBUTED SESSIONS 7
EEA


 


15:00 - 17:00

IO: REGULATION (EEA)
Chairperson: Fabio Manenti, University of Padua

Room U-21


 

OPTIMAL PRICING IN URBAN TRANSPORT
Christelle Viauroux, University of Cincinnati

 

 

DID QUALITY REGULATION IMPROVE WELFARE IN NORWAY? COMBINING DEA-ANALYSIS AND A WELFARE-FRAMEWORK
Anton Burger, Vienna University of Economics And Business Administration
Co-Author: Philipp von Geymueller, Vienna University of Economics and BA

 

 

COLLECTIVE REPUTATION AND MARKET STRUCTURE: REGULATING THE QUALITY VS QUANTITY TRADE-OFF
Pierre Fleckinger, Ecole Polytechnique & INRA

 

 

TRAFFIC MANAGEMENT IN WHOLESALE INTERNATIONAL ROAMING: TOWARDS A MORE EFFICIENT MARKET?
Fabio Manenti, University of Padua
Co-Author: Paolo Lupi, AGCOM

 


15:00 - 17:00

IO: TECHNOLOGY AND INNOVATION (EEA)
Chairperson: Nina Leheyda, CDSEM, University of Mannheim

Room U-19


 

UNBUNDLING AND INCUMBENT INVESTMENT IN QUALITY UPGRADES AND COST REDUCTION
João Vareda, Faculdade de Economia, Universidade Nova de Lisboa

 

 

DESTRUCTIVE CREATION
Emilio Calvano, GREMAQ - Université Toulouse 1

 

 

SEARCHING FOR INNOVATIONS? THE TECHNOLOGICAL DETERMINANTS OF ACQUISITIONS IN THE PHARMACEUTICAL INDUSTRY

Gautier DUFLOS, CREST-LEI (INSEE) & CES University of Sorbonne - CNRS
Co-Author: Etienne Pfister, BETA-Regles University of Nancy II

 

 

RENTS FROM INNOVATIVE INVESTMENT: INTERPLAY OF NEW PRODUCTS AND BRAND-NAME REPUTATION
Nina Leheyda, CDSEM, University of Mannheim

 


15:00 - 17:00

GROWTH III (EEA)
Chairperson: Stephen Wright, Birkbeck College, London

Room U-18


 

CHANNELS THROUGH WHICH HUMAN CAPITAL INEQUALITY INFLUENCES GROWTH
Amparo Castello Climent, Institute of International Economics

 

 

GLOBAL DYNAMICS AND INBALANCE EFFECTS IN THE LUCAS-UZAWA MODEL: FURTHER RESULTS
Blanca Martinez, Universidad Complutense de Madrid
Co-Authors: Raouf Boucekkine, and Jose Ramon Ruiz-Tamarit,

 

 

INFORMATION, HETEROGENEITY AND MARKET INCOMPLETENESS IN THE STOCHASTIC GROWTH MODEL
Stephen Wright, Birkbeck College, London
Co-Author: Graham Liam, UCL

 


15:00 - 17:00

MONETARY POLICY DESIGN (EEA)
Chairperson: David Lopez-Salido, Board of Governors of the Federal Reserve System

Room U-16


 

MONETARY POLICY WITH HETEROGENOUS EXPECTATIONS
Sergio Santoro, Research Department, Bank of Italy

 


 

 

NOMINAL INTEREST RATES AND OPTIMAL DISINFLATION IN NEW KEYNESIAN MODELS
Marcus Hagedorn, European Central Bank

 

 

STRATEGIC COMPLEMENTARITIES AND OPTIMAL MONETARY POLICY
David Lopez-Salido, Board of Governors of the Federal Reserve System
Co-Author: Andrew Levin, Federal Reserve Board

 

 

CREDIT AND THE NATURAL RATE OF INTEREST
Oreste Tristani, ECB
Co-Author: De Fiore Fiorella, European Central Bank

 


15:00 - 17:00

BANKING: COMPETITION, INFORMATION AND INSTITUTIONS (EEA)
Chairperson: Tullio Jappelli, University of Naples Federico II

Room U-14


 

INSTITUTIONS AND BANK BEHAVIOR
Rainer Haselmann, Mainz University
Co-Author: Paul Wachtel, NYU Stern

 

 

A STRUCTURAL EMPIRICAL ANALYSIS OF RETAIL BANKING COMPETITION: THE CASE OF HUNGARY
Jozsef Molnar, Bank of Finland
Co-Authors: Csilla Horvath, Nijmegen School of Management and Marton Nagy, National Bank of Hungary

 

 

FINANCIAL CONSTRAINTS AND INVESTMENT: THE ROLE OF INVESTOR PROTECTION AND OF THE BANKING INDUSTRY STRUCTURE
Carmelo Salleo, Bank of Italy
Co-Author: Irene Longhi, Bank of Italy

 

 

INFORMATION SHARING AND CREDIT: FIRM-LEVEL EVIDENCE FROM TRANSITION COUNTRIES
Tullio Jappelli, University of Naples Federico II
Co-Authors: Martin Brown, Swiss National Bank and Marco Pagano, University of Naples Federico II

 


15:00 - 17:00

INTERNATIONAL TRANSMISSION (EEA)
Chairperson: Luca Dedola, European Central Bank

Room U-11


 

S-CURVE REDUX: ON THE INTERNATIONAL TRANSMISSION OF TECHNOLOGY SHOCKS
Zeno Enders, European University Institute, Ente Luigi Einaudi

 

 

INTERNATIONAL RELATIVE PRICES, TRADE BALANCE AND TECHNOLOGY SHOCK IN THE US: A VAR INVESTIGATION
Massimiliano Pisani, Banca d'Italia
Co-Authors: Alessio Anzuini, Banca d'Italia and Stefano Neri, Bank of Italy

 

 

THE GLOBAL TRANSMISSION OF FISCAL AND TECHNOLOGY SHOCKS: ASSESSING THEORY AND EVIDENCE
Almuth Scholl, Goethe University Frankfurt
Co-Authors: Zeno Enders, European University Institute, Ente Luigi Einaudi and Gernot Müller, Goethe University Frankfurt

 

 

PRODUCTIVITY, EXTERNAL BALANCE AND EXCHANGE RATES: EVIDENCE ON THE TRANSMISSION MECHANISM AMONG G7 COUNTRIES
Luca Dedola , European Central Bank
Co-Authors: Giancarlo Corsetti, and Sylvain Leduc, Federal Reserve Board

 


15:00 - 17:00

MIGRATION III (EEA)
Chairperson: Douglas Frank, INSEAD

Room U-7


 

EAST-WEST MIGRATION AND GENDER: IS THERE A "DOUBLE DISADVANTAGE" VIS-À-VIS STAYERS?
Anzelika Zaiceva, IZA

 

 

DIRECT EVIDENCE ON RISK ATTITUDES AND MIGRATION
David Jaeger, IZA and College of William and Mary
Co-Authors: Holger Bonin, IZA, Thomas Dohmen, IZA/Bonn, Armin Falk, University of Bonn, David Huffman, IZA/Bonn and Uwe Sunde, IZA Bonn

 

 

RUSSIAN MIGRANTS TO RUSSIA: CHOICE OF LOCATION AND LABOR MARKET OUTCOMES
Olga Lazareva, Centre for Economic and Financial Research, Moscow

 

 

THE EFFECT OF MIGRATION ON AGGREGATE LABOR MARKET OUTCOMES: EVIDENCE FROM THE FALL OF THE BERLIN WALL
Douglas Frank, INSEAD

 


15:00 - 17:00

LABOR MARKET REGULATION (EEA)
Chairperson: Patrick Aubert, Insee and Crest

Room U-10


 

PRODUCT MARKET COMPETITION AND FIRING COSTS
Florian Baumann, University of Tuebingen

 

 

THE EFFICIENCY-EQUITY TRADE-OFF OF LABOR MARKET REGULATIONS: EVIDENCE FROM BRAZILIAN CITIES.
Rita Almeida, World Bank
Co-Author: Pedro Carneiro, UCL

 

 

JOB SECURITY DOES AFFECT ECONOMIC EFFICIENCY: THEORY, A NEW STATISTIC, AND EVIDENCE FROM CHILE
Amil Petrin, University of Chicago GSB

 

 

DO LESS STRINGENT FIRING RESTRICTIONS INCREASE EMPLOYMENT IN SMALL-SIZE FIRMS? EVIDENCE FROM THE 2005 FRENCH REFORM
Patrick Aubert, Insee and Crest
Co-Authors: Elise Coudin, CREST-INSEE Université de Montréal and Denis Fougère, CNRS,CREST-INSEE,CEPR,IZA

 


15:00 - 17:00

ECONOMICS OF THE HOUSEHOLD I (EEA)
Chairperson: Martin Browning, University of Oxford

Room U-22


 

COLLECTIVE HOUSEHOLDS, “UNITARY” HOUSEHOLDS, AND THE ROLE OF OUTSIDE OPTIONS: EVIDENCE FROM TURKEY
Tumer Kapan, Columbia University

 

 

THE WORK-SCHOOLING TRADE-OFF REVISITED: MARKET AND DOMESTIC WORK OF INDIAN CHILDREN
Krisztina Kis-Katos, University of Freiburg

 

 

FAMILY SIZE AND CHILD OUTCOMES: IS THERE REALLY NO TRADE-OFF?
Hans Grönqvist, Department of Economics, Uppsala University
Co-Author: Olof Åslund, IFAU

 

 

SPENDING TIME AND MONEY WITHIN THE HOUSEHOLD
Martin Browning, University of Oxford

 


15:00 - 17:00

ECONOMICS OF EDUCATION V (EEA)
Chairperson: Juan J. Dolado, Universidad Carlos III

Room U-20


 

DOES AID FOR EDUCATION EDUCATE CHILDREN? EVIDENCE FROM PANEL DATA
Peter Nunnenkamp, Kiel Institute for the World Economy
Co-Authors: Axel Dreher, ETH Zurich and Rainer Thiele, Kiel Institute for the World Economy

 

 

ESTIMATING CLASS-SIZE EFFECTS USING VARIATION IN SUBJECT-SPECIFIC CLASSES
Eskil Heinesen, AKF, Danish Institute of Governmental Research

 

 

WHICH FACTORS DETERMINE THE GRADES OF UNDERGRADUATE STUDENTS IN ECONOMICS? : SOME EVIDENCE FROM SPAIN
Juan J. Dolado, Universidad Carlos III
Co-Author: Eduardo Morales, Harvard University

 


15:00 - 17:00

ASSET PRICING II (EEA)
Chairperson: Jayant Ganguli, Cornell University

Room U-17


 

THE WORST CASE FOR REAL OPTIONS
Magdalena Trojanowska, University of Antwerp
Co-Author: Peter Kort, Tilburg University

 

 

OPTION VALUATION WITH CONDITIONAL HETEROSKEDASTICITY AND NON-NORMALITY
Bruno Feunou Kamkui, Université de Montréal
Co-Authors: Peter Christoffersen, McGill University, Redouane Elkamhi, McGill University and Kris Jacobs, McGill University

 

 

SUPPLY SIGNALS, COMPLEMENTARITIES, AND MULTIPLICITY IN ASSET PRICES AND INFORMATION ACQUISITION
Jayant Ganguli, Cornell University
Co-Author: Liyan Yang, Cornell University

 


15:00 - 17:00

CORPORATE GOVERNANCE (EEA)
Chairperson: Ana Hidalgo-Cabrillana, Univerisidad Carlos III de Madrid

Room U-15


 

CONNECTIONS OR PERFORMANCE: WHAT DETERMINES TURNOVER OF ITALIAN BANKERS?
Clara Graziano, University of Udine
Co-Authors: erich battistin, University of Padua and Bruno Parigi, University of Padova, Economics Department

 

 

INFLUENCE OF FOUNDING-FAMILY OWNERSHIP AND MANAGERIAL REGIME ON FIRM PERFORMANCE: EVIDENCE FROM COMPANIES ON WSE
Oskar Kowalewski, Warsaw School of Economics
Co-Authors: Dorothea Schäfer, DIW-Berlin, Ivan Stetsyuk, Maria Curie-Sk³odowska University and Oleksandr Talavera, DIW-Berlin

 

 

POLITICAL PATRONAGE IN UKRAINIAN BANKING
Dorothea Schäfer, DIW-Berlin
Co-Authors: Christopher Baum, Boston College, Mustafa Caglayan, University of Sheffield and Oleksandr Talavera, DIW-Berlin

 

 

THE DETERMINANTS ON CORPORATE GOVERNANCE
Ana Hidalgo-Cabrillana, Univerisidad Carlos III de Madrid
Co-Author: Piergiuseppe Fortunato, Università di Bologna and UNDE-SA.

 


15:00 - 17:00

CULTURE AND SOCIAL INTERACTION (EEA)
Chairperson: Assar Lindbeck, Stockholm University

Room U-13


 

SOCIAL INTERACTION EFFECTS IN DISABILITY PENSION PARTICIPATION: EVIDENCE FROM PLANT DOWNSIZING
Mari Rege, University of Stavanger
Co-Authors: Kjetil Telle, Statistics Norway and Mark Votruba, Case Western University

 

 

ESCAPE FROM TRADITIONS TOWARD A FERTILITY TRANSITION
Thomas Baudin, Centre d''Economie Sorbonne

 

 

SMOKING AND SOCIAL INTERACTION
Lars Siemers, RWI Essen
Co-Author: Panu Poutvaara, University of Helsinki

 

 

SOCIAL INTERACTION AND SICKNESS ABSENCE
Assar Lindbeck, Stockholm University
Co-Authors: Marten Palme, Stockholm University and Mats Persson, Institute for International Economic Studies

 


15:00 - 17:00

EMERGING MARKETS: DOLLARIZATION AND VULNERABILITY (EEA)
Chairperson: José Rossi, IBMEC São Paulo

Room U-12


 

 

 

 

EXCESSIVE DOLLAR BORROWING IN EMERGING MARKETS: BALANCE SHEET EFFECTS AND MACROECONOMIC EXTERNALITIES
Anton Korinek, Columbia University

 

 

FINANCIAL DOLLARIZATION: THE ROLE OF BANKS AND INTEREST RATES
Basso Henrique, Birkbeck College
Co-Authors: Oscar Calvo-Gonzalez, World Bank and Marius Jurgilas, University of Connecticut

 

 

PERFORMANCE EVALUATION AND FINANCIAL MARKET RUNS
Wolf Wagner, Tilburg University

 

 

CORPORATE FOREIGN VULNERABILITY, FINANCIAL POLICIES AND THE EXCHANGE RATE REGIME: EVIDENCE FROM BRAZIL
José Rossi, IBMEC São Paulo

 


15:00 - 17:00

INTERNATIONAL TRADE AND PRODUCTIVITY (EEA)
Chairperson: Patrizio Pagano, Banca d'Italia

Room U-8


 

PROCESS INNOVATION AND THE SELECTION EFFECT OF TRADE
Davide Sala, European University Institute and University of Tuebingen
Co-Author: Antonio Navas, European University Institute and GREQAM

 

 

THE IMPACT OF TRADE ON TECHNOLOGY AND SKILL UPGRADING: EVIDENCE FROM ARGENTINA.
Paula Bustos, CREI Universitat Pompeu Fabra

 

 

TRADE-REVEALED TFP
Patrizio Pagano, Banca d'Italia
Co-Authors: Andrea Finicelli, Bank of Italy and Massimo Sbracia, Bank of Italy

 

 

IMPORTS AND PRODUCTIVITY
Miklos Koren, Federal Reserve Bank of New York
Co-Authors: Laszlo Halpern, Institute of Economics and Adam Szeidl, UC-Berkeley

 


15:00 - 17:00

FINANCIAL INTERMEDIATION (EEA)
Chairperson: Uwe Walz, University of Frankfurt

Room U-6


 

OPTIMAL SIZE AND OWNERSHIP STRUCTURE OF CREDIT BUREAUS
Artashes Karapetyan, Uni Zurich

 

 

BANK MARKET STRUCTURE AND FIRM CAPITAL STRUCTURE IN EUROPE
Lieven Baert, Ghent University
Co-Author: Rudi Vander Vennet, Ghent University

 

 

COLLATERAL VERSUS SCREENING: THE IMPACT OF BANK COMPETITION IN EMERGING MARKETS
Christa Hainz, University of Munich

 

 

DO VENTURE CAPITALISTS SELECT DIFFERENT FIRMS OF DIFFERENT CONTRACTS?
Uwe Walz, University of Frankfurt
Co-Author: Julia Hirsch, Universidad Iberoamericano, Mexico

 


15:00 - 17:00

INSTITUTIONS AND GROWTH (EEA)
Chairperson: Michele Ruta, Eui

Room U-4


 

TALENT ALLOCATION, PROPERTY RIGHTS INSTITUTIONS, AND DEPENDENCE ON NATURAL RESOURCES
Chris Stefanadis, University of Arizona

 

 

PRIVATE INCENTIVES VERSUS CLASS INTERESTS: IMPLICATIONS FOR GROWTH
Ani Guerdjikova, Cornell University
Co-Author: Levon Barseghyan, Cornell University

 

 

WHY DO SENSIBLE ECONOMIC POLICIES SOMETIMES GO WRONG? INSTITUTIONAL BIAS TOWARDS THE STATUS QUO.
Dalibor S. Eterovic, University of Cambridge

 

 

RENT SEEKING, MARKET STRUCTURE AND GROWTH
Michele Ruta, Eui
Co-Author: Daniel Brou

 


15:00 - 17:00

OPTIMAL INCOME TAXATION AND PUBLIC GOOD PROVISION (EEA)
Chairperson: Martin Hellwig, Max Planck Institute, Bonn

Room U-2


 

OPTIMAL INCOME TAXATION AND PUBLIC GOOD PROVISION IN A TWO-CLASS ECONOMY
Felix Bierbrauer, Max Planck Institute for Research on Collective Goods

 

 

OPTIMALITY CONDITIONS AND COMPARATIVE STATIC PROPERTIES OF NON-LINEAR INCOME TAXES REVISITED
Laurent Simula, Paris School of Economics

 

 

OPTIMAL INCOME TAXATION, PUBLIC-GOODS PROVISION, AND PUBLIC-SECTOR PRICING
Martin Hellwig, Max Planck Institute, Bonn

 

 

ON THE USE OF BORDER TAXES IN DEVELOPING COUNTRIES
Knud Munk, University of Aarhus

 


15:00 - 17:00

SEARCH, MATCHING AND SORTING I (EEA)
Chairperson: Philipp Kircher, University of Pennsylvania

Room U-1


 

THE HAPPINESS GAINS FROM SORTING AND MATCHING IN THE LABOR MARKET
Rainer Winkelmann, University of Zurich
Co-Authors: Simon Luechinger, University of Zurich and Alois Stutzer, University of Basel

 

 

COMPETITIVE SEARCH AND UNDERINVESTMENT
Stefan Zink, University of Konstanz
Co-Author: Leo Kaas, University of Konstanz

 

 

UNEMPLOYMENT AND WITHIN-GROUP WAGE INEQUALITY IN ITALY AND IN THE US: CAN INFORMATION EXPLAIN THE TRADE-OFF?
Renato Faccini, European University Institute

 

 

EFFICIENCY OF SIMULTANEOUS SEARCH
Philipp Kircher, University of Pennsylvania

 


15:00 - 17:00

WAGES (EEA)
Chairperson: Eliane El Badaoui, THEMA - Université de Cergy-Pontoise

Room U-9


 

RISK AVERSION AND RESERVATION WAGES
Markus Pannenberg, DIW Berlin and University of Applied Sciences Bielefeld

 

 

THE FORMAL SECTOR WAGE PREMIUM AND FIRM SIZE
Eliane El Badaoui, THEMA - Université de Cergy-Pontoise
Co-Authors: Eric Strobl, Ecole Polytechnique - Paris and Frank Walsh, University College Dublin

 

 

 

EARNINGS INSTABILITY AND TENURE
Marco Leonard, University of Milan

Co-Author:Lorenzo Cappellari, Università Cattolica di Milano

 

 

COMPENSATING WAGE DIFFERENTIALS FOR EMPLOYMENT RISKS: EVIDENCE FROM LINKED FIRM-WORKER DATA
Oliver Ruf, University of Zurich
Co-Authors: Rafael Lalive, University of Lausanne and Josef Zweimüller, University of Zurich

 


15:00 - 17:00

CONTRIBUTED SESSIONS 7
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

BUSINESS CYCLES (ESEM TAE)
Chairperson: Anton Nakov, Banco de España

Room B-8


 

FIXED COSTS OF CAPITAL ADJUSTMENT IN A TWO COUNTRY REAL BUSINESS CYCLE MODEL
Christian Bayer, Universität Dortmund

 

 

INFORMATION FLOWS AND AGGREGATE PERSISTENCE
Oleksiy Kryvtsov, Bank of Canada

 

 

REAL WAGE RIGIDITIES AND THE COST OF DISINFLATIONS
Christian Merkl, Kiel Institute for the World Economy
Co-Author: Ascari Guido, University of Pavia

 

 

INFLATION-OUTPUT GAP TRADE-OFF WITH A DOMINANT OIL SUPPLIER
Anton Nakov, Banco de España
Co-Author: Andrea Pescatori, Federal Reserve Bank of Cleveland

 


15:00 - 17:00

COOPERATIVE GAME THEORY I (ESEM TAE)
Chairperson: László Á. Kóczy, Maastricht University

Room B-12


 

SHARING A RIVER AMONG SATIABLE AGENTS
Stefan Ambec, INRA-GAEL, University of Grenoble
Co-Author: Lars Ehlers, Universite de Montreal

 

 

STABLE GOVERNMENTS AND THE SEMISTRICT CORE
Dinko Dimitrov, University of Bayreuth
Co-Author: Claus-Jochen Haake, Bielefeld University

 

 

THE BALANCED SOLUTION FOR TU-GAMES
Rene Levinsky, Max Planck Institute of Economics Jena
Co-Authors: Rene van den Brink, Free University Amsterdam and Miroslav Zeleny, Charles University Praha

 

 

SEQUENTIAL COALITION FORMATION AND THE CORE IN THE PRESENCE OF EXTERNALITIES
László Á. Kóczy, Maastricht University

 


15:00 - 17:00

INFORMATION AND UNCERTAINTY (ESEM TAE)
Chairperson: Martin Peitz, University of Mannheim

Room B-6


 

CONTINUOUS IMPLEMENTATION
Olivier Tercieux, PSE
Co-Author: Marion Oury, HEC,

 

 

DOES DISCLOSURE HELP? CHEAP TALK AND CONFLICTS OF INTEREST.
Kristof Madarasz, Department of Economics, University of California at Berkeley

 

 

ON MERGERS IN CONSUMER SEARCH MARKETS
Maarten Janssen, Erasmus University Rotterdam
Co-Author: Jose Luis Moraga-Gonzalez,

 

 

ASYMMETRIC INFORMATION AND OVERINVESTMENT IN QUALITY
Martin Peitz, University of Mannheim
Co-Author: Paul Belleflamme, Université Catholique de Louvain

 


15:00 - 17:00

INTERNATIONAL TRADE I (ESEM TAE)
Chairperson: john sutton, LSE

Room B-5


 

GRAVITY AND INTEGRATION: DETERMINANTS OF INTERNATIONAL TRADE IN SOUTH-EASTERN EUROPE AND THE FORMER SOVIET UNION
Ian Babetskii, Czech National Bank, CERGE-EI, and CES University of Paris-1 Sorbonne
Co-Authors: Oxana Babetskaia-Kukharchuk, Czech National Bank, CES University of Paris-1 Sorbonne and State University - Higher School of Economics in Moscow and Martin Raiser, World Bank

 

 

NATURAL RESOURCES, DEVELOPMENT PATHS, AND CONVERGENCE
Rodrigo Fuentes, Central Bank of Chile
Co-Author: Verónica Mies, Catholic University of Chile

 

 

ENDOGENOUS SUNK COSTS, FLEXIBLE MANUFACTURING AND THE PRODUCTIVITY EFFECTS OF INTERNATIONAL TRADE
Carsten Eckel, University of Goettingen

 

 

QUALITY,TRADE AND THE MOVING WINDOW: COMPETITIVENESS AND THE GLOBALIZATION PROCESS
John Sutton, LSE

 


15:00 - 17:00

ORGANIZATIONAL FORM (ESEM TAE)
Chairperson: James Dow , London Business School

Room B-13


 

INCENTIVES, MARKETS AND KNOWLEDGE BASED HIERARCHIES
Radoslava Nikolova, CREST-LEI

 

 

ON THE EMERGENCE OF HIERARCHIES: COORDINATION VERSUS INCENTIVES
Chongwoo Choe, University of New South Wales
Co-Author: Shingo Ishiguro, Osaka University

 

 

TASK ASSIGNMENT AND ORGANIZATIONAL FORM
Kerstin Puschke, Free University Berlin

 

 

CAN ENTRENCHED LAME DUCKS BE OPTIMAL? AM ECONOMIC MODEL OF LEADERSHIP AND ORGANIZATIONAL CHANGE
James Dow, London Business School
Co-Author: Clara Raposo, ISCTE Business School

 


15:00 - 17:00

PREFERENCES AND DECISION-MAKING (ESEM TAE)
Chairperson: József Sákovics, University of Edinburgh

Room B-10


 

COGNITIVE EQUILIBRIUM
Hannu Vartiainen, Yrjö Jahnsson Foundation

 

 

MEASURABLE SYSTEMS AND BEHAVIORAL SCIENCES
Ariane Lambert-Mogiliansky, PSE (CNRS, ENPC, ENS), Paris
Co-Author: Vladimir I. Danilov

 

 

TWO-STAGE BOUNDEDLY RATIONAL CHOICE PROCEDURES: THEORY AND EXPERIMENTAL EVIDENCE.
Paola Manzini, Queen Mary, University of London
Co-Author: Marco Mariotti, Queen Mary University of London

 

 

CONSUMER CHOICE AND EQUILIBRIUM WHEN REFERENCE PRICES MATTER
József Sákovics, University of Edinburgh

 


15:00 - 17:00

SOCIAL NORMS AND SOCIAL NETWORK II (ESEM TAE)
Chairperson: Markus Mobius,

Room B-9



 

 

COMMUNICATION DILEMMAS IN SOCIAL NETWORKS
Jeanne Hagenbach, Universite Paris1 Pantheon Sorbonne

 

 

CREATION OF SOCIAL ORDERS IN ETHNIC CONFLICT
Keisuke Nakao, Boston University

 

 

A GLOBAL ECONOMIC AND SOCIAL POWER MEASURE
Szilvia Pápai, Concordia University

 

 

TRUST AND SOCIAL COLLATERAL
Markus Mobius,
Co-Author: Adam Szeidl, UC-Berkeley

 


15:00 - 17:00

GENERAL EQUILIBRIUM (ESEM TAE)
Chairperson: Martine Quinzii, University of California Davis

Room B-11


 

NASH-WALRAS EQUILIBRIA WITH PRIVATE INFORMATION ON BOTH SIDES
Martin Meier, Instituto de Analisis Economico, Barcelona
Co-Authors: Enrico Minelli, Università di Brescia and Herakles Polemarchakis, University of Warwick

 

 

RATIONAL EXPECTATIONS EQUILIBRIUM IN ECONOMIES WITH UNCERTAIN DELIVERY
Joao Correia-da-Silva, Faculty of Economics. University of Porto.
Co-Author: Carlos Hervés-Beloso, University of Vigo

 

 

INCENTIVES AND COMPETITION UNDER MORAL HAZARD
Andrea Attar, IDEI, University of Toulouse I

 

 

THE PROBABILITY APPROACH TO GENERAL EQUILIBRIUM WITH PRODUCTION
Martine Quinzii, University of California Davis
Co-Author: Michael Magill, University of Southern California

 


15:00 - 17:00

CONTRIBUTED SESSIONS 7
ESEM: Econometrics and Empirical Economics


 


15:00 - 17:00

DISCRETE AND LIMITED-DEPENDENT VARIABLES 2 (ESEM EEE)
Chairperson: Xueyan Zhao, Monash University

Room B-7


 

DECRIMINALIZATION AND MARIJUANA SMOKING PREVALENCE: EVIDENCE FROM AUSTRALIA
Xueyan Zhao, Monash University

 

 

DISCRETE CHOICES AND THE TRADE-OFF BETWEEN MONEY AND TIME: A TEST OF THE THEORY OF REFERENCE-DEPENDENT PREFERENCES
Mogens Fosgerau, Technical University of Denmark
Co-Author: Bruno De Borger, University of Antwerp

 


 

 

A BIVARIATE LATENT CLASS CORRELATED GENERALISED ORDERED PROBIT MODEL WITH AN APPLICATION TO MODELLING OBSERVED OBESITY LEVELS
Mark Harris, Monash University
Co-Authors: William Greene, Stern Business School, Bruce Hollingsworth, Monash University and Pushkar Maitra, Monash University

 


15:00 - 17:00

ECONOMETRICS OF CREDIT RISK (ESEM EEE)
Chairperson: Javier Mencia, Bank of Spain

Room B-3


 

THE NEXT GENERATION OF DEFAULT PREDICTION MODELS
Andreas Blöchlinger, Zurich Cantonal Bank

 

 

SOPHISTICATION IN RISK MANAGEMENT AND BANKING STABILITY: THE SHORT TERM
Jan Wenzelburger, Keele University
Co-Author: Hans Gersbach, ETH Zurich

 

 

RECOVERY RATES, DEFAULT PROBABILITIES AND THE CREDIT CYCLE
Carlos González Aguado, CEMFI
Co-Author: Max Bruche, CEMFI

 

 

MODELLING THE DISTRIBUTION OF CREDIT LOSSES WITH OBSERVABLE AND LATENT FACTORS
Javier Mencia, Bank of Spain
Co-Author: Gabriel Jimenez, Bank of Spain

 


15:00 - 17:00

ECONOMETRICS OF HEALTH 2 (ESEM EEE)
Chairperson: Christopher Cornwell, U of Georgia

Room B-2


 

A DYNAMIC ANALYSIS OF THE DEMAND FOR HEALTH INSURANCE AND HEALTH CARE IN IRELAND
Jonneke Bolhaar, VU University Amsterdam, Tinbergen Institute
Co-Authors: Maarten Lindeboom, VU University, Tinbergen Institute, IZA and Bas van der Klaauw, VU University, Tinbergen Institute

 

 

HEALTH AND WAGES PANEL DATA ESTIMATES CONSIDERING SELECTION AND ENDOGENEITY
Robert Jaeckle, Ifo Institute

 

 

SEX RATIOS AND RISKY SEXUAL BEHAVIOR
Christopher Cornwell, U of Georgia
Co-Author: Scott Cunningham, U of Georgia

 


15:00 - 17:00

NONPARAMETRICS, TIME SERIES AND PANEL DATA (ESEM EEE)
Chairperson: Christian Francq, University Lille 3

Room B-1


 

COMBINING PARAMETRIC AND NONPARAMETRIC APPROACHES FOR TIME SERIES PREDICTION
Christian Francq, University Lille 3
Co-Authors: Sophie Dabo-Niang, Université Lille 3 and Jean-Michel Zakoian, CREST and University Lille 3

 

 

LOCAL ADAPTIVE ESTIMATION FOR NONSTATIONARY TIME SERIES
Sebastien Van Bellegem, Universite catholique de Louvain
Co-Author: Vladimir Spokoiny, Weierstrass Institute for Applied Analysis and Stochastics, Berlin

 

 

BANDWIDTH CHOICE FOR BIAS ESTIMATORS IN DYNAMIC NONLINEAR PANEL MODELS
Guido Kuersteiner, UC Davis
Co-Author: Jinyong Hahn, UCLA

 

 

THE INFORMATION CONTENT OF IMPLIED PROBABILITIES TO DETECT STRUCTURAL CHANGE
Alain Guay, Université du Québec à Montréal
Co-Author: Jean-François Lamarche, Brock University

 


15:00 - 17:00

STRUCTURAL CHANGE AND THRESHOLDS (ESEM EEE)
Chairperson: Andros Kourtellos, University of Cyprus

Room B-4


 

THRESHOLD REGRESSION WITH ENDOGENOUS THRESHOLD VARIABLES
Andros Kourtellos, University of Cyprus
Co-Authors: Thanasis Stengos, University of Guelph and Chih Ming Tan, Tufts University

 

 

TESTING FOR BREAKS USING ALTERNATING OBSERVATIONS
Emma Iglesias, Michigan State University
Co-Author: Helle Bunzel, Iowa State University

 

 

A NEW APPROACH TO BOOTSTRAP INFERENCE IN FUNCTIONAL COEFFICIENT MODELS
Fang Xu, Christian-Albrechts-University of Kiel
Co-Author: Helmut Herwartz, Kiel University

 

 

DUAL LONG-MEMORY, STRUCTURAL BREAKS AND THE LINK BETWEEN TURNOVER AND THE EXTREME-VALUE VOLATILITY
Menelaos Karanasos, Brunel University
Co-Author: Aris Kartsaklas, University of York

 


15:00 - 17:00

TIME SERIES 1 (ESEM EEE)
Chairperson: Guillaume Chevillon, ESSEC Business School

Room A-7


 

BARTLETT CORRECTION IN THE STABLE AR(2) MODEL WITH INTERCEPT AND TREND
Noud Van Giersbergen, Universiteit van Amsterdam

 

 

BIAS REDUCTION AND LIKELIHOOD BASED ALMOST-EXACTLY SIZED HYPOTHESIS TESTING IN PREDICTIVE REGRESSIONS USING THE RESTRICTED LIKELIHOOD
Willa Chen, Dept of Statistics, Texas A&M University
Co-Author: Rohit Deo, New York University

 


 

 

BIAS-REDUCED SEMIPARAMETRIC ESTIMATES OF MEMORY PARAMETERS IN FRACTIONAL TIME SERIES: AN APPLICATION TO COINTEGRATION
Javier Hualde, Universidad de Navarra

 

 

FINITE SAMPLE DISTRIBUTIONS OF ESTIMATORS AND PREDICTORS OF NON-STATIONARY PROCESSES
Guillaume Chevillon, ESSEC Business School

 


15:00 - 17:00

TREATMENT EFFECTS AND PROGRAM EVALUATION 1 (ESEM EEE)
Chairperson: Roxana Gutierrez Romero, University of Oxford

Room A-5


 

THE IMPACT OF ENGLAND’S NEW DEAL FOR COMMUNITIES PROGRAMME ON EMPLOYMENT
Roxana Gutierrez Romero, University of Oxford

 

 

ENDOGENOUS PRODUCT VERSUS PROCESS INNOVATION AND A FIRM’S PROPENSITY TO EXPORT
Sascha Becker, CES, LMU Munich
Co-Author: Peter Egger, CES ifo

 

 

TURNING UNEMPLOYMENT INTO SELF-EMPLOYMENT: EFFECTIVENESS AND EFFICIENCY OF TWO START-UP PROGRAMMES
Marco Caliendo, DIW Berlin
Co-Author: Hans Baumgartner, DIW Berlin

 

 

FROM CHILDBIRTH TO PAID WORK: ADULT EDUCATION AND THE EFFECTS ON LABOR MARKET OUTCOMES OF PRIME-AGED MOTHERS
Annette Bergemann, Free University Amsterdam
Co-Author: Gerard van den Berg, Free University, Amsterdam

 


15:00 - 17:00

VOLATILITY 3 (ESEM EEE)
Chairperson: Christian Conrad, ETH Zurich

Room A-2


 

MULTIVARIATE STOCHASTIC VOLATILITY, LEVERAGE AND NEWS IMPACT SURFACES
Manabu Asai, Soka University
Co-Author: Michael McAleer, University of Western Australia

 

 

NONSTATIONARY WISHART AUTOREGRESSIVE MODEL
Roxana Chiriac, University of Konstanz

 

 

A SPECIFICATION TEST FOR OPTION PRICING MODELS
Stefan De Wachter, University of Oxford

 

 

A SPECIFICATION TEST FOR A CLASS OF GARCH-IN-MEAN MODELS
Christian Conrad, ETH Zurich
Co-Author: Enno Mammen, University of Mannheim

 


15:00 - 17:00

WAGES (ESEM EEE)
Chairperson: Jerome Reboul, Gremaq, University of Toulouse

Room A-4


 

WAGE DYNAMICS UNDER MORAL HAZARD
Jerome Reboul, Gremaq, University of Toulouse

 

 

AN INTERNATIONAL COMPARISON OF LIFETIME LABOR INCOME VALUES AND INEQUALITY
Jean Marc Robin, Paris
Co-Author: Audra Bowlus, University of Western Ontario

 

 

WAGE PREMIA FOR NEWLY HIRED EMPLOYEES - THEORY AND EVIDENCE
Patrick Kampkötter, University of Cologne
Co-Author: Dirk Sliwka, University of Cologne

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

EUROPEAN ECONOMIC ASSOCIATION

PRESIDENTAL ADDRESS, HOTEL INTERCONTINENTAL


 


17:30 - 19:30

PRESIDENTIAL ADDRESS (EEA)
Chairperson: Andreu Mas-Colell, Universitat Pompeu Fabra

Room Intercontinental


 

INSTITUTIONS AND CULTURE
Guido Tabellini, IGIER, Bocconi University - President EEA

 


19:30 - 20:30

EUROPEAN ECONOMIC ASSOCIATION

 MEMBER MEETING, HOTEL INTERCONTINENTAL


 


FRIDAY 31 AUGUST 2007


09:00 - 11:00

INVITED SESSIONS 3
EEA


 


09:00 - 11:00

DECISION-MAKING AND INCENTIVES IN ORGANIZATIONS (EEA)
Chairperson: Wouter Dessein, University of Chicago

Room U-9


 

CENTRALIZED VERSUS DECENTRALIZED COORDINATION
Niko Matouschek, Northwestern University

 

 

DECISION-MAKING IN INTERNATIONAL ORGANIZATIONS
Bard Harstad, Northwestern University

 

 

HOW COMMITTEES OF EXPERTS INTERACT WITH THE OUTSIDE WORLD: SOME THEORY AND A CASE STUDY
Bauke Visser, Erasmus University Rotterdam

 


09:00 - 11:00

RANDOMIZED CONTROLLED TRIALS IN DEVELOPMENT ECONOMICS (EEA)
Chairperson: Dean Karlan, Yale University

Room A-5


 

IMPROVING SOCIAL SERVICE DELIVERY: INCENTIVES FOR GOVERNMENT NURSES IN INDIA?
Esther Duflo, MIT

 

 

REPAYMENT IN MICROFINANCE: EVIDENCE FROM A FIELD EXPERIMENT IN INDIA
Rohini Pande, Harvard
Co-Author: Erica Fields, Harvard University

 

 

MARKETING OF FINANCIAL SERVICES IN DEVELOPING COUNTRIES: EVIDENCE FROM FIELD EXPERIMENTS
Dean Karlan, Yale University

 


09:00 - 11:00

INTERNATIONAL TRANSMISSION OF FISCAL POLICY (EEA)
Chairperson: Roel Beetsma, University of Amsterdam

Room A-6


 

ESTIMATING THE EFFECTS OF THE INTERNATIONAL TRANSMISSION OF FISCAL DISTURBANCES
Tommaso Monacelli, IGIER - Bocconi University
Co-Author: Roberto Perotti, IGIER – Bocconi University

 

 

TWIN DEFICITS, OPENNESS AND THE BUSINESS CYCLE
Gernot Mueller, Goethe University Frankfurt
Co-Author: Giancarlo Corsetti, European University Institute

 

 

THE EFFECTS OF PUBLIC SPENDING SHOCKS ON TRADE BALANCES IN THE EUROPEAN UNION
Roel Beetsma, University of Amsterdam
Co-Authors: Massimo Giuliodori, University of Amsterdam and Franc Klaassen, University of Amsterdam

 


09:00 - 11:00

NEUROECONOMICS: RECENT DEVELOPMENTS (EEA)
Chairperson: Aldo Rustichini, University of Minnesota

Room A-4


 

NEUROBIOLOGICAL SOURCES OF THE HUMAN CAPACITY TO OVERRIDE SELF-INTEREST
Ernst Fehr, University of Zurich

 

 

MCCABE PRESENTATION
Kevin McCabe, George Mason University

 

 

COMPETITION AND DOMINANCE
Aldo Rustichini, University of Minnesota

 


09:00 - 11:00

INVITED SESSIONS 3
ESEM: Theoretical and Applied Economics


 


09:00 - 11:00

SOCIAL NETWORKS (ESEM TAE)
Chairperson: Eliana La Ferrara, Bocconi University and IGIER

Room B-13


 

MATCHING IN MARRIAGE MARKETS: THEORY AND HISTORY
Maristella Botticini , Collegio Carlo Alberto, Università di Torino, and Boston University

 

 

WHO IS CONNECTED TO WHOM AND HOW DOES IT MATTER: AN EMPIRICAL STUDY OF SOCIAL NETWORKS
Sanjeev Goyal, University of Cambridge

 


09:00 - 11:00

INVITED SESSIONS 3
ESEM: Econometrics and Empirical Economics


 


09:00 - 11:00

MICROECONOMETRICS (ESEM EEE)
Chairperson: Andrew Chesher, UCL

Room B-4


 

A NEW APPROACH TO LATENT VARIABLE MODELS
Suzanne Schennach, University of Chicago

 

 

MONOTONICITY CONDITIONS, SEPARABILITY CONDITIONS, AND INSTRUMENTAL VARIABLES
Edward Vytlacil, Department of Economics, Columbia University

 


11:00 - 11:30

COFFEE BREAK


 


11:30 - 13:30

LAFFONT LECTURE, HOTEL INTER-CONTINENTAL


 


11:30 - 13:30

LAFFONT LECTURE (ESEM EEE)


Chairperson:

Room Intercontinental


 

 

WHY DO HETEROGENEOUS BELIEFS AND PREFERENCES MATTER FOR ASSET PRICING?
Eric Renault, North Carolina

 


13:30 - 15:00

LUNCH


 


15:00 - 17:00

CONTRIBUTED SESSIONS 8
EEA


 


15:00 - 17:00

IO: EMPIRICAL (EEA)
Chairperson: Jerome Foncel, Université Lille 3

Room U-21


 

UNIVERSAL TELECOMMUNICATION SERVICE: AN EMPIRICAL ANALYSIS OF THE INDIAN MARKET
Sara Biancini, Université de Toulouse

 

 

ESTIMATION AND COMPARISON PROCEDURE FOR ELECTRICITY SPOT MARKET AUCTIONS
Erwann Sbai, University of Auckland

 

 

NON LINEAR CONTRACTING AND ENDOGENOUS MARKET POWER IN MANUFACTURERS AND RETAILERS RELATIONSHIPS: STRUCTURAL ECONOMETRICS ON DIFFERENTIATED PRODUCTS
Celine Bonnet, INRA, GREMAQ, Toulouse
Co-Author: Pierre Dubois, University of Toulouse (GREMAQ, INRA, IDEI)

 

 

THE CASE FOR ECONOMETRICS UNDER THE NEW EUROPEAN MERGER REGULATION: HACHETTE/EDITIS
Jerome Foncel, Université Lille 3
Co-Authors: Marc Ivaldi, Toulouse School of Economics, France, and CEPR and Valérie Rabassa, Directorate General for Competition, European Commission

 


15:00 - 17:00

MONETARY POLICY TRANSPARENCY AND HETEROGENEITY (EEA)
Chairperson: Petra Geraats, University of Cambridge

Room U-19


 

COMMUNICATION STRATEGIES OF CENTRAL BANKS: DOES TOO MUCH TRANSPARENCY CROWD OUT THE USE OF PRIVATE INFORMATION?
Axel Lindner, Halle Institute for Economic Research

 

 

POLICY CHOICES AND REACTION FUNCTIONS OF BANK OF ENGLAND MPC MEMBERS

Christopher Spencer, University of Surrey

 

 

HETEROGENEITY OF CENTRAL BANKERS AND INFLATIONARY PRESSURE
Maurício Bugarin, Ibmec Sao Paulo and Fabia Carvalho, University of Brasilia and Central Bank of Brazil

 

 

POLITICAL PRESSURES AND MONETARY MYSTIQUE
Petra Geraats, University of Cambridge

 


15:00 - 17:00

BANK: REGULATION, RISKS AND CRISES (EEA)
Chairperson: Bruno Parigi, University of Padova, Economics Department

Room U-18


 

BANKING CRISES AND THE LENDER OF LAST RESORT: HOW CRUCIAL IS THE ROLE OF INFORMATION?
Hassan Naqvi, National University of Singapore

 

 

CAN GOOD EVENTS LEAD TO BAD OUTCOMES? ENDOGENOUS BANKING CRISIS AND FISCAL POLICY RESPONSES.
Celine Rochon, University of Oxford - Said Business School
Co-Author: Andrew Feltenstein, IMF

 

 

UNSUSTAINABLE FISCAL POLICIES, FINANCIAL INTEGRATION AND THE LENDER OF LAST RESORT
Raffaela Giordano, Bank of Italy
Co-Author: Pietro Tommasino, Bank of Italy, Research Department

 

 

BANKING REGULATION AND PROMPT CORRECTIVE ACTION
Bruno Parigi, University of Padova, Economics Department
Co-Author: Xavier Freixas, Univesritat Paompeu Fabra

 


15:00 - 17:00

INEQUALITY AND REDISTRIBUTION (EEA)
Chairperson: Tommaso Gabrieli, University of Warwick

Room U-16


 

ON THE MEASUREMENT OF POLARISATION: A QUESTIONNAIRE STUDY
Frank Cowell, London School of Economics
Co-Authors: Yoram Amiel, Ruppin Academic Center and Xavier Ramos, Universitat Autonoma de Barcelona

 

 

PREFERENCES FOR REDISTRIBUTION - A CROSS-COUNTRY STUDY ON FAIRNESS
Annika Lindskog, Göteborg University
Co-Author: Ann-Sofie Isaksson, Göteborg University

 

 

DEPRIVATION, WELFARE AND INEQUALITY
Patrick Moyes, CNRS and GRETHA
Co-Author: Brice Magdalou, LAMETA

 

 

BELIEFS AND REDISTRIBUTION: A SIMPLE EXPLANATION BASED ON IMPERFECT INFORMATION
Tommaso Gabrieli, University of Warwick

 


15:00 - 17:00

MIGRATION, BRAIN DRAIN AND BRAIN GAIN (EEA)
Chairperson: Gabrielle Demange, Paris-Jourdan Sciences Economiques

Room U-7


 

A PANEL DATA ANALYSIS OF THE BRAIN GAIN
Cécily Defoort, EQUIPPE -University of Lille/ IRES - Catholic University of Louvain
Co-Authors: Michel Beine, University of Luxembourg and ULB and Frederic Docquier, IRES

 

 

MIGRATION, HUMAN CAPITAL ACCUMULATION AND ECONOMIC DEVELOPMENT
Corrado Di Maria, University College Dublin
Co-Author: Piotr Stryszowski, Tilburg University

 

 

FINANCING HIGHER EDUCATION AND MOBILITY
Gabrielle Demange, Paris-Jourdan Sciences Economiques
Co-Authors: Robert Fenge, Ifo Institute for Economic Research and Silke Uebelmesser, CES,University of Munich

 


15:00 - 17:00

LABOR MARKET REGULATION, SUBSIDIES AND WAGES (EEA)
Chairperson: Gaia Garino, University of Leicester

Room U-14


 

WAGE SUBSIDIES TARGETED TO THE LONG-TERM UNEMPLOYED
Anne Bucher, GAINS University of Le Mans

 

 

WORKPLACE REPRESENTATION AND INDUSTRIAL DEMOCRACY: AN AGENCY PERSPECTIVE
Juan Miguel Gallego Acevedo, GREMAQ, Université des Sciences Sociales

 

 

ON THE IMPACT OF ANTI-DISCRIMINATION LEGISLATION: THEORY AND POLICY
Gaia Garino, University of Leicester
Co-Author: Stephen Pudney, University of Essex

 

 

ESCAPING THE UNEMPLOYMENT TRAP - THE CASE OF EAST GERMANY  
Christian Merkl, Kiel Institute for the World Economy
Co-Author: Dennis Snower, Kiel Institute for the World Economy

 


15:00 - 17:00

ECONOMICS OF THE HOUSEHOLD II (EEA)
Chairperson: Dan Anderberg, Royal Holloway University of London

Room U-11


 

DOES HOUSEWORK LOWER WAGES AND WHY? EVIDENCE FOR THE UK
Mark Bryan, University of Essex
Co-Author: Almudena Sevilla Sanz, Oxford University, Economics Department and Center for Time Use Research

 

 

MARRIAGE AND THE ALLOCATION OF ASSETS IN WOMEN’S DEFINED CONTRIBUTION PLANS
Tansel Yilmazer, Purdue University
Co-Author: Angela C. Lyons, University of Illinois at Urbana-Champaign

 

 

SUBSIDISING “STAYERS”? ON THE EFFECT OF A CHILD CARE REFORM ON MARITAL STABILITY
Pål Schøne, Institute for Social Research
Co-Author: Ines Hardoy, Institute for Social Research

 

 

TAX CREDITS, INCOME SUPPORT AND PARTNERSHIP DECISIONS
Dan Anderberg, Royal Holloway University of London

 


15:00 - 17:00

PATENTS AND INNOVATION (EEA)
Chairperson: Elisabeth Mueller, Centre for European Economic Research (ZEW)

Room U-10


 

CLAIMING MORE: THE INCREASED VOLUMINOSITY OF PATENT APPLICATIONS AND ITS DETERMINANTS
Nicolas van Zeebroeck, ULB - Solvay Business School
Co-Authors: Dominique Guellec, OECD and Bruno van Pottelsberghe, ULB SBS and EPO

 

 

LICENSING OR ACQUIRING PATENTS? EVIDENCE FROM PATENT RENEWAL DATA
Roger Svensson, Research Institute of Industrial Economics

 

 

THE INFLUENCE OF STRATEGIC PATENTING ON COMPANIES’ PATENT PORTFOLIOS
Elisabeth Mueller, Centre for European Economic Research (ZEW)
Co-Authors: Knut Blind, TU Berlin and Katrin Cremers, Centre for European Economic Research (ZEW)

 


15:00 - 17:00

WAR, THE MILITARY AND THE ECONOMY (EEA)
Chairperson: Eliana La Ferrara, University of Bocconi, IGIER

Room U-22


 

THE MILITARY, WEALTH AND REDISTRIBUTION
Gabriel Leon, University of Oxford

 

 

THE COLONIAL ORIGINS OF CIVIL WARS
Marta Reynal-Querol, Universitat Pompeu Fabra
Co-Author: Simeon Djankov, The World Bank

 

 

DETECTING ILLEGAL ARMS TRADE
Eliana La Ferrara, University of Bocconi, IGIER
Co-Author: Stefano DellaVigna, University of California at Berkeley

 


15:00 - 17:00

AUCTIONS (EEA)
Chairperson: Georg Zachmann, DIW Berlin

Room U-20


 

LEVELLING THE FIELD THROUGH SCORING AUCTIONS
Eirik Norvald Christensen, Department of Economics, University of Bergen

 

 

LEAST UNMATCHED PRICE AUCTIONS
Dmitri Vinogradov, Alfred-Weber-Institute, University of Heidelberg
Co-Author: Jurgen Eichberger, Heidelberg University

 

 

OPTIMAL AUCTIONS WITH CROSSHOLDINGS
Gino Loyola, Universidad Carlos III de Madrid

 

 

MARKET POWER IN TRANSMISSION AUCTIONS
Georg Zachmann, DIW Berlin
Co-Author: Derek Bunn, London Business School

 



 

15:00 - 17:00

DEBT AND CRISES I (EEA)
Chairperson: Wolf Wagner, Tilburg University

Room U-17


 

UNCERTAINTY ABOUT THE MASS OF SPECULATORS AND THE DECISION TO ABANDON A CURRENCY PEG
Adriana Ponta, Universidade Nova de Lisboa/ Universidade Federal Fluminense

 

 

CURRENCY VS. BANKING IN THE GERMAN DEBT CRISIS OF 1931 AND ITS SPILLOVERS ON THE U.S. ECONOMY: EVIDENCE FROM A STRUCTURAL DYNAMIC FACTOR MODEL
Samad Sarferaz, Humboldt University Berlin
Co-Author: Albrecht Ritschl, Humboldt University Berlin

 

 

EMERGING MARKETS AND FINANCIAL INTERMEDIARIES
Peter Kondor, University of Chicago
Co-Author: Veronica Guerrieri, University of Chicago

 

 

 

 


15:00 - 17:00

ECONOMIC AND FINANCIAL ISSUES IN CHINA (EEA)
Chairperson: Alessandra Guariglia, Nottigham University

Room U-15


 

MODELLING INFLATION IN CHINA – A REGIONAL PERSPECTIVE
Tuomas Peltonen, European Central Bank
Co-Authors: Aaron Mehrotra, Bank of Finland, Institute for Economies in Transition and Alvaro Santos Rivera, ECB

 

 

FDI AND CREDIT CONSTRAINTS: FIRM LEVEL EVIDENCE IN CHINA
Jerome Hericourt, EQUIPPE - Universites de Lille, University of Paris 1, CES & Paris School of Economics
Co-Author: Sandra Poncet, Pantheon-Sorbonne-Economie and PSE, Universite Paris 1, CNRS and CEPII,

 

 

HOW ARE WAGES SET IN BEIJING?
Jose de Sousa, Universite Paris 1 Pantheon-Sorbonne, CNRS, Centre d'Economie de la Sorbonne

 

 

COULD FINANCIAL DISTORTIONS BE NO IMPEDIMENT TO ECONOMIC GROWTH AFTER ALL? EVIDENCE FROM CHINA
Alessandra Guariglia, Nottigham University
Co-Author: Sandra Poncet, Pantheon-Sorbonne-Economie and PSE, Universite Paris 1, CNRS and CEPII,

 


15:00 - 17:00

TRADE, KNOWLEDGE AND GROWTH (EEA)
Chairperson: Hanna Pesola, Helsinki School of Economics

Room U-13


 

TEACHING LOCALS NEW TRICKS: FOREIGN EXPERTS AS A CHANNEL OF KNOWLEDGE TRANSFERS
Natalia Trofimenko, Kiel Institute for World Economy
Co-Author: James Markusen, University of Colorado, Boulder

 


 

 

A KNOWLEDGE-CAPITAL MODEL APPROACH OF FOREIGN DIRECT INVESTMENT IN TRANSITION COUNTRIES
Brindusa Anghel, Universitat Autònoma de Barcelona

 

 

FOREIGN OWNERSHIP, LABOUR MOBILITY AND WAGES
Hanna Pesola, Helsinki School of Economics

 


15:00 - 17:00

FISCAL POLICY IN OPEN ECONOMIES (EEA)
Chairperson: Francesco Furlanetto, CREI-UPF

Room U-12


 

INTEGRATION AND THE STRUCTURE OF PUBLIC SPENDING
Karin Olofsdotter, Lund University
Co-Author: Åsa Hansson, Lund University

 

 

FISCAL POLICIES AND BUSINESS CYCLES IN AN ENLARGED EURO AREA
Karsten Staehr, Bank of Estonia

 

 

FISCAL SHOCKS IN A SMALL OPEN ECONOMY
Francesco Furlanetto, CREI-UPF

 


15:00 - 17:00

HOUSING, LAND AND THE MACROECONOMY (EEA)
Chairperson: Juan Jimeno, Bank of Spain

Room U-8


 

CONSTRUCTING A NEW REAL ESTATE RISK INDEX FOR THE PARIS RESIDENTIAL MARKET
Fabrice Barthélémy, University of Cergy-Pontoise, THEMA
Co-Authors: Michel Baroni, and Mahdi Mokrane,

 

 

HOUSE PRICES, RENTS, AND INTEREST RATES UNDER COLLATERAL CONSTRAINTS
Oscar Arce, BANK OF SPAIN
Co-Author: David López-Salido, Federal Reserve Board

 

 

ON THE PRICE (IN)ELASTICITY OF DUTCH HOUSING SUPPLY
Wouter Vermeulen, CPB Netherlands Bureau for Economic Policy Analysis and Free University Amsterdam
Co-Author: Jan Rouwendal, Free University Amsterdam

 

 

HOUSE PRICES AND EMPLOYMENT REALLOCATION: INTERNATIONAL EVIDENCE
Juan Jimeno, Bank of Spain
Co-Author: Olympia Bover, Banco de España

 


15:00 - 17:00

INFLATION EMPIRICAL (EEA)
Chairperson: Michael Krause, Deutsche Bundesbank

Room U-6


 

INVESTIGATING INFLATION IN THE ACF DOMAIN
Giovanni Caggiano, University of Glasgow
Co-Author: Efrem Castelnuovo , University of Padua

 


 

 

REAL ASSET RETURNS AND COMPONENTS OF INFLATION: A STRUCTURAL VAR ANALYSIS
Matthias Hagmann-von Arx, Swiss Finance Institute and Concordia Advisors
Co-Author: Carlos Lenz, Swiss National Bank

 

 

HETEROGENEITY AND LEARNING IN INFLATION EXPECTATION FORMATION: AN EMPIRICAL ASSESSMENT
Damjan Pfajfar, University of Cambridge
Co-Author: Emiliano Santoro, University of Cambridge

 

 

INFLATION DYNAMICS WITH SEARCH FRICTIONS: A STRUCTURAL ECONOMETRIC ANALYSIS
Michael Krause, Deutsche Bundesbank
Co-Authors: David Lopez-Salido, Board of Governors of the Federal Reserve System and Thomas Lubik, Federal Reserve Bank of Richmond

 


15:00 - 17:00

MARKET DYNAMICS (EEA)
Chairperson: Jia Liu, University of Salford

Room U-4


 

THE YOUNG & THE RESTLESS: DURATION OF NEW FIRMS ACROSS ENTRY COHORTS
Marcel-Cristian Voia, Carleton University
Co-Authors: Kim Huynh, Indiana University and Robert Petrunia, Lakehead University

 

 

DETERMINANTS OF FIRM SURVIVAL: A DURATION ANALYSIS USING THE GENERALIZED GAMMA DISTRIBUTION
Michael Peneder, Austrian Institute of Economic Research (WIFO)
Co-Author: Serguei Kaniovski, Austrian Institute of Economic Research (WIFO)

 

 

DYNAMICS OF LISTED SMES IN CHINA
Jia Liu, University of Salford
Co-Author: Dong Pang, University of Manchester

 


15:00 - 17:00

THE IMPORTANCE OF GENDER II (EEA)
Chairperson: Johannes Geyer, DIW Berlin

Room U-3


 

SEX MATTERS: GENDER DIFFERENCES IN A PROFESSIONAL SETTING
Alexandra Niessen, University of Cologne, Department of Corporate Finance and Centre for Financial Research
Co-Author: Stefan Ruenzi, University of Cologne - Centre for Financial Research (CFR)

 

 

GOING BEHIND THE GENDER WAGE GAP: ARE WOMEN LESS EDUCATED OR ARE THEY IN WORSE FIRMS?
Anja Heinze, ZEW Mannheim

 

 

SHORT-RUN AND LONG-TERM EFFECTS OF CHILDBIRTH ON MOTHERS’ EMPLOYMENT AND WORKING HOURS ACROSS INSTITUTIONAL REGIMES AN EMPIRICAL ANALYSIS BASED ON THE ECHP
Johannes Geyer, DIW Berlin
Co-Author: Viktor Steiner, DIW Berlin, FU Berlin

 


15:00 - 17:00

OPTIMAL CURRENCY AREAS (EEA)
Chairperson: Isabel Correia , Banco de Portugal

Room U-1


 

OPTIMIZED FISCAL RULES FOR A MONETARY UNION
Werner Schule, IMF
Co-Authors: Michael Kumhof, IMF and Doug Laxton, IMF

 

 

HOW DO HETEROGENEITIES AFFECT WELFARE IN A MONETARY UNION? A GAME THEORETIC APPROACH WITH OPTIMIZING MONETARY AND FISCAL POLICIES
Stefan Ried, Humboldt-Universität zu Berlin
Co-Author: Oliver Grimm, ETH Zurich

 

 

A MICRO-FOUNDED RECONSIDERATION OF THE THEORY OF OPTIMUM CURRENCY AREAS
Giancarlo Corsetti, European University Institute

 

 

HOW DI¤ERENT IS THE TRANSMISSION MECHANISM OF MONETARY POLICY IN A MONETARY UNION?
Isabel Correia , Banco de Portugal
Co-Author: Bernardino Adao, Banco de Portugal

 


15:00 - 17:00

SEARCH, MATCHING AND SORTING II (EEA)
Chairperson: Edward Cartwright, University of Kent

Room U-9


 

HOUSE ALLOCATION WITH EXISTING TENANTS: A NEW SOLUTION
Ozgur Yilmaz, Koc University

 

 

ESTIMATION OF NON-SEQUENTIAL SEARCH MODELS
Jose Luis Moraga Gonzalez, University of Groningen
Co-Authors: Zsolt Sandor, Universidad Carlos III Madrid and Matthijs Wildenbeest, Indiana University

 

 

TWO AGENTS AND THE THEORY OF SEARCH
Edward Cartwright, University of Kent

 


15:00 - 17:00

IO: VERTICAL RELATIONS (EEA)
Chairperson: Riccardo Martina, Department of Economics - University of Naples

Room U-2


 

DO FIRMS INDUCE THE INVESTMENT BEHAVIOR OF THEIR SUPPLIERS
Liza Jabbour, University Paris 1 Panthéon-Sorbonne

 

 

BARGAINING IN INPUT MARKETS AND RETAILER'S ASSORTMENT DECISIONS
Vanessa von Schlippenbach, German Institute for Economic Research
Co-Author: Pio Baake, German Institute for Economic Research

 

 

VERTICAL RELATIONS, BILATERAL NEGOTIATIONS, AND BARGAINING POWER
Özlem Bedre, PhD Student, University of Toulouse, GREMAQ

 

 

VERTICAL RESTRAINTS UNDER ASYMMETRIC INFORMATION: ON THE ROLE OF PARTICIPATION CONSTRAINTS
Riccardo Martina, Department of Economics - University of Naples
Co-Authors: Antonio Acconcia, Department of Economics - University of Naples and Salvatore Piccolo, University of Salerno and GREMAQ (Toulouse)

 


15:00 - 17:00

CONTRIBUTED SESSIONS 8
ESEM: Theoretical and Applied Economics


 


15:00 - 17:00

FISCAL POLICY (ESEM TAE)
Chairperson: Olivier Cardi, University Paris 2, Ermes

Room B-8


 

TIME VARYING FISCAL POLICY RULES FOR FIVE OECD COUNTRIES
Christophe Schalck, Bank of France
Co-Authors: Jacopo Cimadomo, ECARES-ULB and CEPII and Julien Garnier, DGTPE

 

 

HOW FAR ARE WE FROM THE SLIPPERY SLOPE? THE LAFFER CURVE REVISITED
Mathias Trabandt, Sveriges Riksbank
Co-Author: Harald Uhlig, Humboldt University Berlin

 

 

PUBLIC BUDGET COMPOSITION, FISCAL (DE)CENTRALIZATION AND WELFARE
Ioana Schiopu, Indiana Universisty
Co-Authors: Calin Arcalean, Indiana University, Gerhard Glomm, Indiana University and Jens Suedekum, University of Konstanz

 

 

HABIT FORMATION AND FISCAL POLICY IN A SEMI-SMALL OPEN ECONOMY
Olivier Cardi, University Paris 2, Ermes

 


15:00 - 17:00

GAME THEORY II (ESEM TAE)
Chairperson: Tilman Borgers, University of Michigan

Room B-6


 

UNAWARENESS, BELIEFS AND GAMES
Burkhard Schipper, University of California, Davis
Co-Authors: Aviad Heifetz, The Open University of Israel and Martin Meier, Instituto de Analisis Economico, Barcelona

 

 

ENDOGENOUS INFORMATION AND CREDIBILITY OF BELIEFS IN A GLOBAL GAME
Andrea Finicelli, Bank of Italy

 

 

DIRECTED ALTRUISM AND ENFORCEMENT IN SOCIAL NETWORKS
Tanya Rosenblat, Wesleyan University
Co-Authors: Stephen Leider, Harvard University and Markus Mobius

 

 

INFORMATION INVARIANT EQUILIBRIA OF EXTENSIVE GAMES
Tilman Borgers, University of Michigan
Co-Author: McQuade Timothy, University of Michigan

 


15:00 - 17:00

INTERNATIONAL TRADE II (ESEM TAE)
Chairperson: Jean-Christophe Poutineau, Université de Rennes 1

Room B-5


 

COMMERCIAL POLICY IN A PREDATORY WORLD
James E Anderson, Boston College

 

 

ENDOGENOUS TRADE POLICY AND COMPENSATION
Guy Lalanne, CREST

 

 

THE WELFARE GAINS OF TRADE INTEGRATION IN THE EUROPEAN MONETARY UNION
Jean-Christophe Poutineau, Université de Rennes 1
Co-Author: Aurélien Eyquem, Université de Rennes 1

 


15:00 - 17:00

PRODUCT DIFFERENTIATION (ESEM TAE)
Chairperson: Sang-Hyun Kim, Department of Economics, Yonsei University

Room B-10


 

ENDOGENOUS FINANCIAL STRUCTURE AND PRODUCT DIFFERENTIATION UNDER UNCERTAINTY OVER THE WIDTH OF THE TASTE DISTRIBUTION.
Christos Constantatos, Universisty of Macedonia
Co-Authors: Jean Lefoll, HEC and Stylianos Perrakis, Concordia University

 

 

DIFFERENTIATED DUOPOLY WITH `ELIMINATION BY ASPECTS'
Reynald-Alexandre Laurent, PSE

 

 

EXAMINING QUALITY DISTORTION
Hugh Sibly, University of Tasmania

 

 

MIX-AND-MATCH COMPATIBILITY IN ASYMMETRIC SYSTEM MARKETS
Sang-Hyun Kim, Department of Economics, Yonsei University
Co-Author: Jong-Hee Hahn, Department of Economics, Yonsei University

 


15:00 - 17:00

R&D AND INNOVATION (ESEM TAE)
Chairperson: Luca V.A. Colombo, Catholic University - Milano

Room B-7


 

COMPETITION, R&D, AND THE COST OF INNOVATION
Christophe Cahn, Banque de France
Co-Authors: Philippe Askenazy, PSE, IZA, Banque de France and Delphine Irac, Banque de France

 

 

CUMULATIVE INNOVATION, SAMPLING AND THE HOLD-UP PROBLEM
Rufus Pollock, Cambridge University

 


 

 

ADOPTION IS NOT DEVELOPMENT: FIRST MOVER ADVANTAGES IN THE DIFFUSION OF NEW TECHNOLOGY
Francisco Ruiz-Aliseda, Universitat Pompeu Fabra
Co-Author: Peter Zemsky, INSEAD

 

 

DO THICK VENTURE CAPITAL MARKETS FOSTER INNOVATION? A STRATEGIC ANALYSIS
Luca V.A. Colombo, Catholic University - Milano
Co-Author: Herbert Dawid, Bielefeld University

 


15:00 - 17:00

AUCTIONS III (ESEM TAE)
Chairperson: Paul Klemperer, Oxford University

Room B-13


 

OPTIMAL MECHANISMS FOR AN AUCTION MEDIATOR
Andriy Zapechelnyuk, Hebrew University
Co-Author: Alexander Matros, University of Pittsburgh

 

 

SPECULATORS IN MULTI-OBJECT AUCTIONS
Marco Pagnozzi, Università di Napoli Federico II

 

 

THE PROPERTIES OF OPTIMAL RESERVATION PRICE IN UNIFORM-PRICE AUCTION GAMES
Michal Bresky, CERGE-EI

 

 

WHEN ARE AUCTIONS BEST?
Paul Klemperer, Oxford University
Co-Author: jeremy bulow, Stanford University

 


15:00 - 17:00

INVESTMENT (ESEM TAE)
Chairperson: Oleksandr Talavera, DIW-Berlin  

Room B-11


 

FINANCING MULTI-STAGE PROJECTS UNDER MORAL HAZARD AND LIMITED COMMITMENT
Josepa Miquel-Florensa, York University

 

 

OPTIMAL INVESTMENT POLICY WITH FIXED ADJUSTMENT COSTS AND IRREVERSIBILITY
Nicolas Roys, University of Paris 1, University College London and IFS

 

 

FIRM INVESTMENT AND FINANCIAL FRICTIONS
Oleksandr Talavera, DIW-Berlin
Co-Authors: Christopher Baum, Boston College and Mustafa Caglayan, University of Sheffield

 

 

 

 


15:00 - 17:00

DECISION THEORY AND RISK UNCERTAINTY (ESEM TAE)
Chairperson: Ritxar Arlegi, Public University of Navarre

Room B-12


 

COMMON P-BELIEF AND UNCERTAINTY
Jayant Ganguli, Cornell University

 


 

 

MULTIPLE PRIORS AS SIMILARITY WEIGHTED FREQUENCIES
Ani Guerdjikova, Cornell University
Co-Author: Jurgen Eichberger, Heidelberg University

 

 

TWO-STAGE ACTS AND EXPONENTIAL PROBABILITY CAPACITIES
Nobuo Koida, Princeton University

 

 

UNCERTAINTY WITH ORDINAL LIKELIHOOD INFORMATION
Ritxar Arlegi, Public University of Navarre
Co-Author: Jorge Alcalde-Unzu, Public University of Navarre

 


15:00 - 17:00

CONTRIBUTED SESSIONS 8
ESEM: Econometrics and Empirical Economics


 


15:00 - 17:00

DISCRETE AND LIMITED-DEPENDENT VARIABLES 1 (ESEM EEE)
Chairperson: Jesús Carro, Universidad Carlos III de Madrid

Room B-1


 

A RANK-ORDERED LOGIT MODEL WITH UNOBSERVED HETEROGENEITY IN RANKING CAPABILITIES
Dennis Fok, Econometric Institute
Co-Authors: Richard Paap, Erasmus University Rotterdam and Bram van Dijk, Econometric Institute

 

 

BAYESIAN ANALYSIS OF THE ORDERED PROBIT MODEL WITH ENDOGENOUS SELECTION
Pravin Trivedi, Indiana University

 

 

HETEROGENEITY IN DYNAMIC DISCRETE CHOICE MODELS.
Jesús Carro, Universidad Carlos III de Madrid
Co-Author: Martin Browning, University of Oxford

 


15:00 - 17:00

ECONOMETRICS OF INNOVATION AND PATENTS (ESEM EEE)
Chairperson: Xueda Song, York University

Room B-3


 

KNOWLEDGE SPILLOVERS IN U.S. PATENTS: A DYNAMIC LATENT-FACTOR INTENSITY MODEL
Szabolcs Blazsek, Carlos III University
Co-Author: Alvaro Escribano, Carlos III University

 

 

NOTHING'S GONNA STOP INNOVATORS NOW? AN EMPIRICAL INVESTIGATION ON THE 'SUCCESS BREEDS SUCCESS' HYPOTHESIS
Bettina Peters, ZEW Mannheim

 

 

PATENTS AND THE SURVIVAL OF INTERNET-RELATED IPOS
Wagner Stefan, LMU Munich
Co-Author: Iain Cockburn, Boston University

 


 

 

THE EFFECTS OF TECHNOLOGICAL CHANGE ON LIFE-CYCLE HUMAN CAPITAL INVESTMENT
Xueda Song, York University
Co-Author: John Jones, State University of New York at Albany

 


15:00 - 17:00

EXPERIMENTS (ESEM EEE)
Chairperson: Hans-Martin von Gaudecker, Free University of Amsterdam

Room B-2


 

RISK PREFERENCES IN THE SMALL FOR A LARGE POPULATION
Hans-Martin von Gaudecker, Free University of Amsterdam
Co-Authors: Arthur van Soest, RAND and Tilburg University and Erik Wengström, Lund University

 

 

PREFERENCES, INTENTIONS, AND SUBJECTIVE EXPECTATIONS: A LARGE-SCALE EXPERIMENT WITH A REPRESENTATIVE SUBJECT POOL
Charles Bellemare, Laval University
Co-Authors: Sabine Kröger, Laval University and Arthur van Soest, RAND and Tilburg University

 

 

GIFT EXCHANGE WITHIN AN ECONOMIC FIRM: EVIDENCE FROM A FIELD EXPERIMENT
Bruce Shearer, Université Laval
Co-Author: Charles Bellemare, Laval University

 

 

FINANCIAL INCENTIVES AND COGNITIVE ABILITIES: EVIDENCE FROM A FORECASTING TASK WITH VARYING COGNITIVE LOAD
Ondrej Rydval, CERGE-EI

 


15:00 - 17:00

FINANCIAL ECONOMETRICS 3 (ESEM EEE)
Chairperson: bataa erdenebat, university of manchester

Room B-4


 

OVERREACTION AND MULTIPLE TAIL DEPENDENCE AT THE HIGH-FREQUENCY LEVEL -- THE COPULA ROSE
Wing Lon Ng, University of Muenster

 

 

WHAT DRIVES VOLATILITY PERSISTENCE IN THE FOREIGN EXCHANGE MARKET?
Erik Hjalmarsson, Federal Reserve Board
Co-Authors: David Berger , Yale University and Alain Chaboud, Federal Reserve Bank

 

 

DIRECTIONAL PREDICTABILITY OF THE FOREIGN EXCHANGE RATE MOVEMENTS --MARKET MICROSTRUCTURE ANALYSIS BASED ON CONDITIONAL PROBABILITY
Takatoshi Ito, University of Tokyo
Co-Author: Yuko Hashimoto, Faculty of Economics, Toyo University

 

 

DOES SPREAD REALLY PREDICT THE SHORT RATE? EXPLAINING EMPIRICAL ANOMALIES IN THE EXPECTATIONS THEORY
Bataa Erdenebat, University of Manchester
Co-Authors: Dong Heon Kim, Korea University and Denise R. Osborn, University of Manchester

 


15:00 - 17:00

INSTRUMENTAL VARIABLES (ESEM EEE)
Chairperson: Jerzy Niemczyk, University of Amsterdam

Room A-2


 

SEQUENTIAL TEST PROCEDURES FOR INSTRUMENTAL VARIABLE SELECTION
Jerzy Niemczyk, University of Amsterdam

 

 

INTERVIEWER IDENTITIES AS VALID INSTRUMENTS FOR SELECTIVE PANEL SURVEY ATTRITION - AN EVALUATION WITH MATCHED SURVEY-REGISTER DATA
Marta Lopez Yurda, Free University Amsterdam
Co-Authors: Maarten Lindeboom, VU University, Tinbergen Institute, IZA and Gerard van den Berg, Free University, Amsterdam

 

 

ON THE EFFECT OF PENALIZATION IN NONPARAMETRIC INSTRUMENTAL REGRESSION.
Jan Johannes, University Heidelberg
Co-Author: Sebastien Van Bellegem, Universite catholique de Louvain

 

 

THE PRACTICE OF NON PARAMETRIC INSTRUMENTAL VARIABLES ESTIMATION
Renaud Lestringant, CNRS-Gremaq
Co-Author: Jean-Pierre Florens, Toulouse

 


15:00 - 17:00

LABOUR MARKETS 2 (ESEM EEE)
Chairperson: Aico van Vuuren, Vrije Universiteit Amsterdam

Room B-9


 

DISENTANGLING THE RELATION BETWEEN REALIZED DURATION UNDER THE PENSION BENEFIT SPELL AND BENEFIT CLAIMS IN GERMANY
Stefan Hupfeld, University of Konstanz

 

 

DO CHANGES IN REGULATION AFFECT EMPLOYMENT DURATION IN TEMPORARY WORK AGENCIES?
Elke Jahn, Harvard University, IAB and IZA
Co-Author: Manfred Antoni, Institute for Employment Research (IAB)

 

 

MODELLING HETEROGENEITY AND DYNAMICS IN THE VOLATILITY OF INDIVIDUAL WAGES
Laura Hospido, CEMFI

 

 

THE RELATIONSHIP BETWEEN EXPECTATIONS OF LABOR MARKET STATUS, HOMEOWNERSHIP AND THE DURATION OF UNEMPLOYMENT
Aico van Vuuren, Vrije Universiteit Amsterdam

 


15:00 - 17:00

MODEL AVERAGING OR SELECTION (ESEM EEE)
Chairperson: Alastair Hall, University of Manchester

Room A-5


 

BAYESIAN MODEL AVERAGING IN THE PRESENCE OF STRUCTURAL BREAKS
Richard Paap, Erasmus University Rotterdam
Co-Authors: Philip Hans Franses, Erasmus University Rotterdam, Francesco Ravazzolo, Erasmus University Rotterdam and Dick Van Dijk, Erasmus University Rotterdam

 

 

BAYESIAN MODEL AVERAGING IN VECTOR AUTOREGRESSIVE PROCESSES WITH AN INVESTIGATION OF STABILITY OF THE US GREAT-RATIOS AND RISK OF AN INTERNATIONAL LIQUIDITY TRAP
Herman van Dijk, Eramus
Co-Author: Rodney Strachan, Economics Department

 

 

INFORMATION CRITERIA FOR IMPULSE RESPONSE MATHCHING ESTIMATION
Alastair Hall, University of Manchester
Co-Authors: Atsushi Inoue, University of British Columbia, James Nason, Federal Reserve Bank of Atlanta and Barbara Rossi, Duke University

 


15:00 - 17:00

PANEL DATA 3 (ESEM EEE)
Chairperson: Manuel Arellano, CEMFI

Room A-7


 

SIMPLE TESTS FOR COINTEGRATION IN DEPENDENT PANELS WITH STRUCTURAL BREAKS
David Edgerton, Lund University
Co-Author: Joakim Westerlund, Dept of Economics, Lund University

 

 

TESTING FOR STATIONARITY IN PANEL DATA WHEN ERRORS ARE SERIALLY CORRELATED. FINITE-SAMPLE RESULTS.
Kristian Jönsson, Lund University

 

 

A ROBUST TEST FOR PARAMETER HOMOGENEITY IN PANEL DATA MODELS
Chang-Ching Lin, Institute of Economics, Academia Sinica

 

 

ROBUST PRIORS IN NONLINEAR PANEL DATA MODELS
Manuel Arellano, CEMFI
Co-Author: Stéphane Bonhomme, CEMFI

 


15:00 - 17:00

TIME SERIES 2 (ESEM EEE)
Chairperson: Robert F Engle, Department of Finance, Stern School of Business

Room A-4


 

EFFICIENT ESTIMATION OF AUTOREGRESSION PARAMETERS AND INNOVATION DISTRIBUTIONS FOR SEMIPARAMETRIC INTEGER-VALUED AR(P) MODELS
Feike C. Drost, Tilburg University
Co-Authors: Ramon Van Den Akker, and Bas J.M. Werker,

 

 

INTERVENTION TIME SERIES ANALYSIS OF CRIME RATES: THE IMPACT OF SENTENCE REFORMS IN VIRGINIA
Suncica Vujic, Central Planning Bureau
Co-Author: Siem Jan Koopman, VU University, Amsterdam

 

 

MAXIMUM LIKELIHOOD ESTIMATION OF HIGHER-ORDER INTEGER-VALUED AUTOREGRESSIVE PROCESSES
Ruijun Bu, The University of Liverpool
Co-Authors: Kaddour Hadri, Durham University (UK) and Brendan McCabe, Liverpool University

 

 

VECTOR MULTIPLICATIVE ERROR MODELS: REPRESENTATION AND INFERENCE
Giampiero Gallo, Universita’ de Firenze

Co-authors: Robert F Engle, Department of Finance, Stern School of Business,  Fabrizio Cipollini, Universita’ di Firenze

 


17:00 - 17:30

COFFEE BREAK


 


17:30 - 19:30

CONTRIBUTED SESSIONS 9
EEA


 


17:30 - 19:30

IO: ELECTRICITY (EEA)
Chairperson:  Silvester VanKoten, CERGE-EI

Room U-21


 

BIDDING BEHAVIOUR IN THE SPANISH ELECTRICITY MARKET: AN ECONOMETRIC ANALYSIS
Fiorenzo Bovenzi, University of Salerno (Italy) and CRA International (London)

 

 

EFFICIENCY ANALYSIS OF EAST EUROPEAN ELECTRICITY DISTRIBUTION IN TRANSITION: LEGACY OF THE PAST?
Astrid Cullmann, DIW Berlin
Co-Author: Christian von Hirschhausen, Dresden University of Technology

 

 

DO MERGERS REALLY INCREASE EFFICIENCY? A COST EFFICIENCY ANALYSIS OF ELECTRICITY DISTRIBUTORS FROM THE US
Borge Hess, Dresden University of Technology

 

 

THE UNBUNDLING REGIME FOR ELECTRICITY UTILITIES IN THE EU:A CASE OF LEGISLATIVE AND REGULATORY CAPTURE?

Silvester VanKoten, CERGE-EI
Co-Author: Andreas Ortmann, CERGE-EI

 


17:30 - 19:30

BANK REGULATION AND STABILITY (EEA)
Chairperson: Ulrike Neyer, Martin-Luther-University Halle

Room U-19


 

BANKRUPTCY LAW AND CREDIT MARKET: A GENERAL-EQUILIBRIUM APPROACH
Bruno Funchal, FUCAPE Business School
Co-Author: Aloisio Araujo, EPGE/FGV and IMPA

 

 

THE IMPACT OF WHITE NOISE IN PD ESTIMATIONS ON BANKS' CAPITAL REQUIREMENTS ACCORDING TO BASEL II
Irmhild Kühn, Finance Center Muenster
Co-Author: Andreas Pfingsten, Finance Center Muenster

 

 

THE STABILITY OF THE BANKING SECTOR AND CREDIT DEFAULT SWAPS
Ulrike Neyer, Martin Luther University Halle
Co-Author: Frank Heyde,

 


17:30 - 19:30

MIGRATION IV (EEA)
Chairperson: Dennis Görlich, The Kiel Institute for the World Economy

Room U-18


 

A GRAVITY MODEL OF WORKERS' REMITTANCES
Marta Ruiz-Arranz, International Monetary Fund
Co-Author: Erik Lueth, International Monetary Fund

 

 

INTERREGIONAL MIGRATION PATTERNS IN ROMANIA DURING TRANSITION
Monica Pop Silaghi, Babes Bolyai University, Cluj-Napoca, Romania
Co-Author: Subrata Ghatak, Kingston University

 

 

REMITTANCES- ALTRUISM, INVESTMENT OR INSURANCE? EVIDENCE FROM GERMANY
Elke Holst, DIW Berlin, University of Flensburg
Co-Author: Mechthild Schrooten, DIW Berlin, Hitotsubashi University, Tokyo

 

 

HARD WORK, HAMMOCK, OR HIGHER EDUCATION? EXPLAINING LABOUR MARKET INACTIVITY IN MIGRANT FAMILIES
Dennis Görlich, The Kiel Institute for the World Economy
Co-Authors: Toman Omar Mahmoud, The Kiel Institute for the World Economy and Christoph Trebesch, Free University of Berlin, Hertie School of Governance

 


17:30 - 19:30

TAXATION AND PUBLIC FINANCE (EEA)
Chairperson: Doina Maria Radulescu, CES, University of Munich

Room U-14


 

COMMUNICATION AND TAXATION - OPTIMAL INDIRECT TAXATION AND COSTLY SIGNALING
Tom Truyts, Center for Economic Studies, K.U.Leuven

 

 

ON THE (IN)EFFICIENCY OF SALES TAXES WITH IMPERFECT COMPLEMENTARITIES IN PRODUCTION
Simone Moriconi, Centre for Economic Performance - London School of Economics

 

 

CHECKERBOARDS AND COASE: TRANSACTIONS COSTS AND EFFICIENCY IN LAND MARKETS
Randall Akee, Institute for the Study of Labor (IZA)

 

 

FROM SEPARATE ACCOUNTING TO FORMULA APPORTIONMENT: ANALYSIS IN A DYNAMIC FRAMEWORK
Doina Maria Radulescu, CES, University of Munich

 


17:30 - 19:30

LABOUR SUPPLY, SAVING AND INSURANCE (EEA)
Chairperson: Hans Bloemen, Free University Amsterdam

Room U-11


 

FAMILY LABOR SUPPLY, PRECAUTIONARY BEHAVIOR, AGGREGATE SAVING AND EMPLOYMENT
Paulo Santos Monteiro, ECARES, Université Libre de Bruxelles

 


 

 

COMPETITIVE SCREENING IN INSURANCE MARKETS WITH ENDOGENOUS LABOR SUPPLY
Nick Netzer, University of Konstanz
Co-Author: Florian Scheuer, MIT

 

 

THE IMPACT OF WEALTH ON JOB EXIT RATES OF ELDERY WORKERS
Hans Bloemen, Free University Amsterdam

 


17:30 - 19:30

DEBT AND CRISES II (EEA)
Chairperson: Diego Saravia, Pontificia Universidad Católica de Chile

Room U-7


 

SOVEREIGN DEBT CAPACITY AND THE DISTRIBUTION OF DOMESTIC WEALTH: A COMMON AGENCY APPROACH
Laura Sabani, University of Florence
Co-Authors: debora Di Gioacchino, University of Rome and Sergio Ginebri, University of Molise

 

 

SOVEREIGN DEFAULTERS: DO INTERNATIONAL CAPITAL MARKETS PUNISH THEM?
Diego Saravia, Pontificia Universidad Católica de Chile

 

 

THE SUSTAINABLE DEBTS OF PHILIP II: REVENUES, EXPENDITURES AND PRIMARY SURPLUS IN HABSBURG SPAIN, 1560-1598
Joachim Voth, UPF

 


17:30 - 19:30

ECONOMIC GEOGRAPHY II (EEA)
Chairperson: Robert Fenge, Ifo Institute for Economic Research

Room U-22


 

AGGLOMERATION UNDER FORWARD-LOOKING EXPECTATIONS: POTENTIALS AND GLOBAL STABILITY
Daisuke Oyama, Graduate School of Economics, Hitotsubashi University

 

 

MARKET ACCESS IMPACT ON INDIVIDUAL WAGES: EVIDENCE FROM CHINA
Laura Hering, University Paris 1
Co-Author: Sandra Poncet, Pantheon-Sorbonne-Economie and PSE, Universite Paris 1, CNRS and CEPII,

 

 

FISCAL COMPETITION, CONVERGENCE AND AGGLOMERATION
Robert Fenge, Ifo Institute for Economic Research
Co-Authors: Max von Ehrlich, CESifo Munich and Matthias Wrede, RWTH Aachen

 


17:30 - 19:30

ENVIRONMENT III (EEA)
Chairperson: Oliwia Kurtyka, LERNA, Universite de toulouse1

Room U-20


 

GRADUAL VERSUS STRUCTURAL TECHNOLOGICAL CHANGE IN THE TRANSITION TO A LOW-EMISSION ENERGY INDUSTRY: HOW TIME-TO-BUILD AND DIFFERING SOCIAL AND INDIVIDUAL DISCOUNT RATES INFLUENCE ENVIRONMENTAL AND TECHNOLOGY POLICIES
Christoph Heinzel, Dresden University of Technology
Co-Author: Ralph Winkler, ETH Zurich

 

 

CONFLICT AND PRODUCTION: AN APPLICATION TO NATURAL RESOURCES
Katharina Wick, Tilburg University, CentER

 

 

LOCK-IN AND GOVERNMENTAL SUPPORT FOR HYDROGEN CARS: - WAIT FOR THE MARKET TO SIGNAL WHEN TO INTERVENE!
Mads Greaker, Statistics Norway
Co-Author: Tom-Reiel Heggedal, Statistics Norway

 

 

OPTIMAL ENVIRONMENTAL TAXATION WHEN GREEN ALTERNATIVE IS AVAILABLE
Oliwia Kurtyka, LERNA, Universite de toulouse1
Co-Author: Philippe Mahenc, LERNA-INRA, Université Toulouse 1 and GEREM, Université de Perpignan,

 


17:30 - 19:30

INTERNATIONAL TRADE AND THE GOVERNMENT (EEA)
Chairperson: Anna Maria Mayda, Georgetown

Room U-17


 

TRADE LIBERALIZATION AND ITS FISCAL IMPLICATIONS IN A NORTH-SOUTH TRADE MODEL
Albert de Vaal, Radboud University Nijmegen
Co-Author: Joachim Stibora, Kingston University London

 

 

DECENTRALIZATION AND INTERNATIONAL TRADE
Margarita Kalamova, Wissenschaftszentrum Berlin für Sozialforschung
Co-Author: Sebastian Kessing,

 

 

INTERNATIONAL TRADE AND THE POLITICAL ECONOMY OF TRANSPORT INFRASTRUCTURE INVESTMENT
Gabriel Felbermayr, University of Tuebingen

 

 

RISK, GOVERNMENT AND GLOBALIZATION: INTERNATIONAL SURVEY EVIDENCE
Anna Maria Mayda, Georgetown
Co-Authors: Kevin O' Rourke, Trinity college Dublin and Richard Sinnott, Department of Politics and ISSC, University College Dublin

 


17:30 - 19:30

INTERVENTIONS AND CONTROLS IN THE FOREIGN EXCHANGE MARKET (EEA)
Chairperson: Balazs Egert, Austrian National Bank

Room U-15


 

BANK OF JAPAN INTERVENTIONS, EXCHANGE RATE VOLATILITY, AND SPILLOVER EFFECTS: EVIDENCE FROM HIGH FREQUENCY DATA
Ying Jiang, University of Essex
Co-Authors: Georgios Chortareas, University of Essex and John Nankervis, University of Essex

 

 

INTERVENTION POLICY OF THE BOJ: A UNIFIED APPROACH
Oscar Bernal, Université Libre de Bruxelles
Co-Authors: Michel Beine, University of Luxembourg and ULB, Jean-Yves Gnabo, Facultés Universitaires Notre Dame de la Paix de Namur and Christelle Lecourt, Facultés Universitaires Notre Dame de la Paix de Namur

 

 

ARE CAPITAL CONTROLS EFFECTIVE IN THE FOREIGN EXCHANGE MARKET
Roald Versteeg, Maastricht University
Co-Authors: stefan straetmans, universitey maastricht and Christian C.P. Wolff, Maastricht University

 

 

CENTRAL BANK INTERVENTIONS, COMMUNICATION AND INTEREST RATE POLICY IN SIX EMERGING EUROPEAN ECONOMIES
Balazs Egert, Austrian National Bank

 


17:30 - 19:30

FINANCIAL MANAGERS INCENTIVES AND PERFORMANCE (EEA)
Chairperson: Filippo Pavesi, Bocconi University

Room U-13


 

MUTUAL FUNDS, CAREER CONCERNS, AND TRADE VOLUME
Massimo Scotti, Bocconi University

 

 

EMPLOYMENT RISK, COMPENSATION INCENTIVES AND MANAGERIAL RISK TAKING: EVIDENCE FROM THE MUTUAL FUND INDUSTRY
Tanja Thiele, University of Cologne - Centre for Financial Research (CFR)
Co-Authors: Alexander Kempf, University of Cologne - Centre for Financial Research (CFR) and Stefan Ruenzi, University of Cologne - Centre for Financial Research (CFR)

 

 

WHEN THE PAYMENT MODE AFFECTS THE QUALITY OF ADVICES. FINANCIAL ANALYSTS, FUND MANAGERS, AND BROKERAGE COMMISSIONS
Sébastien Galanti, University Paris X at Nanterre - EconomiX

 

 

INVESTMENT BANKS AS INFORMATION PROVIDERS IN IPOS
Filippo Pavesi, Bocconi University
Co-Author: Massimo Scotti, Bocconi University

 


17:30 - 19:30

INTRA-FAMILY ALLOCATION (EEA)
Chairperson: Nicolas Moreau, University of Toulouse

Room U-12


 

SPEZIALIZATION IN THE BARGAINING FAMILY
Raphaela Hyee, Federal Ministy of Finance, Austria
Co-Author: Julio Robledo, University of Vienna

 

 

HEALTH CARE AND INTRA-FAMILY DECISIONS
Denis Beninger, ZEW Mannheim
Co-Author: Susanne Steffes, Centre for European Economic Research

 

 

THE RESPONSE OF THE SPOUSES' LABOR SUPPLY AND SHARING RULE TO TARGETING POLICY
Panayiota Lyssiotou, University of Cyprus

 


 

 

THE EFFECTS OF MARRIAGE ON COUPLES' ALLOCATION OF TIME BETWEEN MARKET AND NON-MARKET HOURS
Nicolas Moreau, University of Toulouse
Co-Author: AbdelRahmen El Lahga, Institut Supérieur de Gestion

 


17:30 - 19:30

MACROECONOMICS WITH MICRO DATA (EEA)
Chairperson: Olympia Bover, Banco de España

Room U-8


 

THE ELASTICITY OF SUBSTITUTION: EVIDENCE FROM A UK FIRM-LEVEL DATA
Sebastian Barnes, OECD
Co-Authors: Simon Price, Bank of England and Maria Sebastia-Barriel, Bank of England

 

 

INNOVATION AND SKILL UPGRADING: THE ROLE OF EXTERNAL VS INTERNAL LABOUR MARKETS
Luc Behaghel, INRA - Paris school of economics and CREST-INSEE
Co-Authors: Eve Caroli, Paris X University, EconomiX and Paris School of Economics and Emmanuelle Walkowiak, Orleans University, LEO and CEE

 

 

DO INFRASTRUCTURE AND BANKING EFFICIENCY BOOST PRODUCTIVITY? EVIDENCE FROM ITALIAN MANUFACTURING FIRMS
Camilla Mastromarco, University of Lecce
Co-Authors: Francesco Aiello, Universita' della Calabria and Angelo Zago, University of Verona

 

 

WEALTH EFFECTS ON CONSUMPTION: MICROECONOMETRIC ESTIMATES FROM A NEW SURVEY OF HOUSEHOLD FINANCES
Olympia Bover, Banco de España

 


17:30 - 19:30

NETWORKS AND GAMES (EEA)
Chairperson: Simon Weidenholzer, University of Vienna

Room U-6


 

EIGHT DEGREES OF SEPARATION
Paolo Pin, Universita'' Ca'' Foscari - Venice

 

 

FRIENDSHIP SELECTION
Rivas Javier, European University Insititute

 

 

CONFORMISM AND COOPERATION IN A LOCAL INTERACTION MODEL
Friederike Mengel, University of Alicante

 

 

CONTAGION AND EFFICIENCY
Simon Weidenholzer, University of Vienna
Co-Author: Carlos Alós-Ferrer, University of Konstanz

 


17:30 - 19:30

TOPICS IN QUANTITATIVE MACRO AND TIME SERIES (EEA)
Chairperson: Balázs Világi, Magyar Nemzeti Bank

Room U-4



 

 

ARE SPECTRAL ESTIMATORS USEFUL FOR IMPLEMENTING LONG-RUN RESTRICTIONS IN SVARS?
Elmar Mertens, Study Center Gerzensee

 

 

IRREVERSIBLE INVESTMENT IN STOCHASTICALLY CYCLICAL MARKETS
Jianjun Wu, University of Arizona
Co-Author: Francisco Ruiz-Aliseda, Universitat Pompeu Fabra

 

 

INCOMPLETE MARKETS AND THE EVOLUTION OF US CONSUMER DEBT
Winfried Koeniger, IZA, University of Bonn
Co-Author: Thomas Hintermaier, Institute for Advanced Studies, Vienna

 

 

ADAPTIVE LEARNING AND MACROECONOMIC PERSISTENCE: COMPARING DSGE MODELS OF THE EURO AREA
Balázs Világi, Magyar Nemzeti Bank

 


17:30 - 19:30

NEWS AND MEDIA (EEA)
Chairperson: Priyanka Malhotra, JPMorgan

Room U-2


 

CORPORATE CONTROL IN THE MARKET FOR NEWS, TUNNELING PROBLEMS AND CORRUPTION
Ana Paula Cusolito, Universitat Pompeu Fabra

 

 

MEDIA FREEDOM, BUREAUCRATIC INCENTIVES, AND THE RESOURCE CURSE
Georgy Egorov, Harvard University
Co-Authors: Sergei Guriev, New Economic School and Konstantin Sonin, New Economic School

 

 

DEATHS, DESTRUCTION OR CNN? DETERMINANTS OF HUMANITARIAN AID FLOWS AFTER NATURAL DISASTERS, 1973-2004
Priyanka Malhotra, JPMorgan

 


17:30 - 19:30

MICROECONOMETRICS (EEA)
Chairperson: Michael Kvasnicka, Humboldt University Berlin

Room U-1


 

RISK ATTITUDE, IMPATIENCE, AND ASSET CHOICE
Hans-Martin von Gaudecker, Free University of Amsterdam
Co-Authors: Axel Börsch-Supan, MEA, Mannheim University, Rob Euwals, CPB and Angelika Eymann, [Mannheim]

 

 

SOCIO-ECONOMIC DIFFERENCES IN POSTPONEMENT AND RECUPERATION OF FERTILITY IN ITALY: RESULTS FROM A MULTI-SPELL RAMDOM EFFECT MODEL
Concetta Rondinelli, Institute of Quantitative Methods, Bocconi University, Milan
Co-Authors: ARNSTEIN AASSVE, Institute for Social and Economic Research and Francesco Billari, Institute for Quantitative Methods, Bocconi University

 

 

WORLD WAR II, MISSING MEN, AND OUT-OF-WEDLOCK CHILDBEARING
Michael Kvasnicka, Humboldt University Berlin
Co-Author: Dirk Bethmann, Korea University

 




17:30 - 19:30

THE POLITICAL ECONOMY OF PUBLIC SECTOR EFFICIENCY (EEA)
Chairperson: Rainer Thiele, Kiel Institute for the World Economy

Room U-10


 

PUBLIC AUDITORS: EMPIRICAL EVIDENCE FROM THE US STATES
Mark Schelker, University of Fribourg

 

 

DEPENDENT CONTROLLERS AND REGULATION POLICIES: THEORY AND EVIDENCE
Carmine Guerriero, University of Cambridge

 

 

PUBLIC SECTOR EFFICIENCY: THE ROLES OF POLITICAL AND BUDGETARY INSTITUTIONS, FISCAL CAPACITY AND DEMOCRATIC PARTICIPATION
Lars-Erik Borge, Norwegian University of Science and Technology
Co-Authors: Falch Torberg, Norwegian University of Science and Technology and Per Tovmo, Norwegian University of Science and Technology

 

 

DOES US AID BUY UN GENERAL ASSEMBLY VOTES? A DISAGGREGATED ANALYSIS
Rainer Thiele, Kiel Institute for the World Economy
Co-Authors: Axel Dreher, ETH Zurich and Peter Nunnenkamp, Kiel Institute for the World Economy

 


17:30 - 19:30

INDUSTRIAL ORGANIZATION II (EEA)
Chairperson: Catherine Bobtcheff, University of Toulouse, LERNA

Room U-3


 

THE FORMATION OF FINANCIAL NETWORKS
Ana Babus, Erasmus University Rotterdam

 

 

PARTIAL REGULATION IN VERTICALLY DIFFERENTIATED INDUSTRIES
Annalisa Vinella, University of Bari, Department of Economics; Toulouse School of Economics, GREMAQ
Co-Authors: Angela Bergantino, University of Bari (DSE) and Etienne Billette de Villemeur, University of Toulouse (IDEI and GREMAQ)

 


 

 

SUCCESS BREEDS SUCCESS LOCALLY: A TALE OF INCUBATOR FIRMS
Eren Inci, Boston College

 

 

INVESTMENT DECISIONS, CHOICE VALUE AND PREEMPTION WHEN DEMAND IS UNCERTAIN
Catherine Bobtcheff, University of Toulouse, LERNA

 


17:30 - 19:30

CONTRIBUTED SESSIONS 9
ESEM: Theoretical and Applied Economics


 


17:30 - 19:30

PRODUCTION AND EQUILIBRIUM (ESEM TAE)
Chairperson: J. Peter Neary, University of Oxford and CEPR

Room B-13


 

MONOPOLY POWER AND ENDOGENOUS VARIETY IN DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM: DISTORTIONS AND REMEDIES
Fabio Ghironi, Boston College
Co-Authors: Florin Bilbiie, University of Oxford, Nuffield College and Marc Melitz, Princeton University

 

 

FIRM HETEROGENEITY, EXPORT PARTICIPATION, AND TRADE REFORM DYNAMICS
George Alessandria, Federal Reserve Bank of Philadelphia
Co-Author: Horag Choi, University of Auckland

 

 

PRODUCTIVITY MATTERS FOR TRADE POLICY: THEORY AND POLICY
Baybars Karacaovali, Fordham University

 

 

ENDOGENOUS MODE OF COMPETITION IN GENERAL EQUILIBRIUM
J. Peter Neary, University of Oxford and CEPR
Co-Author: Joe Tharakan, Université de Liege and CEPR

 


17:30 - 19:30

POLITICAL ECONOMY II (ESEM TAE)
Chairperson: Stephane Rossignol, University Paris 1

Room B-11


 

A THEORY OF POLICY EXPERTISE
Steven Callander, Northwestern University

 

 

FTA TRADE POLICY IN THE PRESENCE OF FOREIGN LOBBIES
Andrey Stoyanov, University of British Columbia

 

 

MINIMAL RIGHTS BASED SOLIDARITY
Roland Iwan Luttens, SHERPPA, Ghent University

 

 

THE IMPACT OF TRUST IN GOVERNMENT ON POLITICAL DECISIONS OF RISK REDUCTION
Stephane Rossignol, University Paris 1
Co-Author: Meglena Jeleva, Université du maine and Université Paris 1

 



 

17:30 - 19:30

REGULATION AND INDUSTRIAL POLICY (ESEM TAE)
Chairperson: João Vareda, Faculdade de Economia, Universidade Nova de Lisboa

Room B-10


 

A RETAIL BENCHMARKING APPROACH TO EFFICIENT TWO-WAY ACCESS PRICING.
Sjaak Hurkens, Institute for Economic Analysis
Co-Author: Doh-Shin Jeon, Universitat Pompeu Fabra

 

 

DOES PRIVATISING SERVICE PROVISION REDUCE ACCOUNTABILITY FOR QUALITY?
Matthew Ellman, Institut d''Analisi Economic

 

 

OPTIMAL ECONOMIC STRUCTURE AND LOCATION OF URBAN BUILDINGS
S. Sadik Gokturk, St. John''s University

 

 

THE RACE FOR TELECOMS INFRASTRUCTURE INVESTMENT WITH BYPASS: CAN ACCESS REGULATION ACHIEVE THE FIRST-BEST?
João Vareda, Faculdade de Economia, Universidade Nova de Lisboa
Co-Author: Steffen Hoernig, Faculdade de Economia, Universidade Nova de Lisboa

 


17:30 - 19:30

COOPERATIVE GAMES II (ESEM TAE)
Chairperson: Ozgur Yilmaz, Koc University

Room B-9


 

BIDDING WITH COALITIONAL EXTERNALITIES: A STRATEGIC APPROACH TO PARTITION FUNCTION FORM GAMES
Yuan Ju, Keele University
Co-Author: David Wettstein, Ben-Gurion University of the Negev

 

 

LOCAL DYNAMIC CORE
Arnold Polanski, Queen''s University Belfast

 

 

THE RECURSIVE CORE FOR NON-SUPERADDITIVE GAMES
Chen-Ying Huang, National Taiwan University, Econ Dept

 

 

KIDNEY EXCHANGE: AN EGALITARIAN MECHANISM
Ozgur Yilmaz, Koc University

 


17:30 - 19:30

DYNAMICS INCENTIVES (ESEM TAE)
Chairperson: Trond E. Olsen, Norwegian School of Economics and BA

Room B-7


 

 

 

 

MARKOV-PERFECT NASH EQUILIBRIA IN MODELS WITH A SINGLE CAPITAL STOCK
Engelbert Dockner, University of Vienna
Co-Author: Florian Wagener, University of Amsterdam

 

 

SELF-CONFIDENCE IN A DYNAMIC AGENCY
Xifré Ramon, ESCI - U. Pompeu Fabra

 

 

DISTORTED PERFORMANCE MEASURES AND DYNAMIC INCENTIVES
Trond E. Olsen, Norwegian School of Economics and BA
Co-Author: Oddvar Kaarboe, University of Bergen

 


17:30 - 19:30

HEALTH (ESEM TAE)
Chairperson: Michael Kuhn, University of Rostock and MPIDR

Room B-3


 

HIV CONTAMINATION RISK, SAVINGS AND THE WELFARE EFFECTS OF MEDICAL TESTING
Judith Lammers, Tilburg University
Co-Authors: Lex Meijdam, Tilburg University and Harrie Verbon, Tilburg University

 

 

OPTIMAL DEMAND MANAGEMENT POLICIES WITH PROBABILITY WEIGHTING
Ana B. Ania, University of Vienna

 

 

SUBSISTENCE -- A BIO-ECONOMIC FOUNDATION OF THE MALTHUSIAN EQUILIBRIUM
Holger Strulik, University of Hannover
Co-Author: Carl-Johan Dalgaard, University of Copenhagen

 

 

OPTIMAL PUBLIC PROVISION OF NURSING HOMES AND THE ROLE OF INFORMATION
Michael Kuhn, University of Rostock and MPIDR
Co-Author: Robert Nuscheler, McMaster University

 


17:30 - 19:30

WELFARE ECONOMICS (ESEM TAE)
Chairperson: Giacomo Pasini, SSAV and University of Venice

Room B-12


 

EMPLOYMENT STATUS, INCOME AND THE SUBJECTIVE WELL-BEING OF IMMIGRANTS
Carsten Pohl, ifo Institute for Economic Research

 

 

WHY FUEL POVERTY? DYNAMICS OF INCOME AND EXPENDITURE OF HOUSEHOLDS IN YORKSHIRE
Keshab Bhattarai, University of Hull, Business School

 

 

 

 

 

DOES SOCIAL CAPITAL REDUCE MORAL HAZARD? A NETWORK MODEL FOR NON-LIFE INSURANCE DEMAND
Giacomo Pasini, SSAV and University of Venice
Co-Author: Giovanni Millo, Research Dept Assicurazioni Generali SpA and University of Trieste

 



 

17:30 - 19:30

UNEMPLOYMENT POLICY (ESEM TAE)
Chairperson: Ronald Wolthoff, Vrije Universiteit Amsterdam

Room B-8


 

ELIGIBILITY CRITERIA FOR UNEMPLOYMENT BENEFITS AND THEIR INFLUENCE ON THE EQUILIBRIUM RATE OF UNEMPLOYMENT
Thomas Wagner, University of Applied Sciences Nuremberg
Co-Author: Elke Jahn, Harvard University, IAB and IZA

 

 

SEARCH, UNEMPLOYMENT, AND AGE
Volker Hahn, ETH Zurich

 

 

EMPLOYMENT AGENCIES DO NOT PLAY DICE: THE SORTING ROLE OF MATCHING TECHNOLOGIES
Thomas Tregouet, CREST-LEI

 

 

STRUCTURAL ESTIMATION OF SEARCH INTENSITY: DO NON-EMPLOYED WORKERS SEARCH HARD ENOUGH?
Ronald Wolthoff, Vrije Universiteit Amsterdam
Co-Authors: Pieter Gautier, Vrije Universiteit Amsterdam and Jose Luis Moraga Gonzalez, University of Groningen

 


17:30 - 19:30

CONTRIBUTED SESSIONS 9
ESEM: Econometrics and Empirical Economics


 


17:30 - 19:30

EXCHANGE RATES 2 (ESEM EEE)
Chairperson: Marko Korhonen, University of Turku

Room B-6


 

A REGIME SWITCHING ANALYSIS OF CURRENCY DENOMINATION OF EXPORTS
Asli Leblebicioglu, North Carolina State University
Co-Author: Kolver Hernandez, University of Delaware

 

 

DOING JUSTICE TO FUNDAMENTALS IN EXCHANGE RATE FORECASTING: A CONTROL OVER ESTIMATION RISKS
Biing-Shen Kuo, Department of International Business, National Chengchi University

 

 

EXCHANGE RATE PASS-THROUGH INTO PRICES: DEPENDENCE ON INFLATION REGIME
Marko Korhonen, University of Turku

 


17:30 - 19:30

FACTOR MODELS 1 (ESEM EEE)
Chairperson: Domenico Giannone, ECARES-ULB and CEPR

Room B-5


 

A TWO-STEP ESTIMATOR FOR LARGE APPROXIMATE DYNAMIC FACTOR MODELS BASED ON KALMAN FILTERING
Domenico Giannone, ECARES-ULB and CEPR
Co-Authors: Catherine Doz, Cergy Univeristy and Lucrezia Reichlin, ECB

 


 

 

PRIORS FROM DSGE MODELS FOR DYNAMIC FACTOR ANALYSIS
Gregor Bäurle, University of Bern

 

 

COMPARING ALTERNATIVE PREDICTORS BASED ON LARGE-PANEL FACTOR MODELS
D''Agostino Antonello, Central Bank and Financial Services Authority of Ireland
Co-Author: Domenico Giannone, ECARES-ULB and CEPR

 


17:30 - 19:30

HIGH FREQUENCY FINANCIAL ECONOMETRICS 3 (ESEM EEE)
Chairperson: Helinä Laakkonen, University of Jyväskylä

Room B-2


 

AN INFLATED MULTIVARIATE INTEGER COUNT HURDLE MODEL: AN APPLICATION TO BID AND ASK QUOTE DYNAMICS
Ingmar Nolte, University of Konstanz
Co-Authors: Katarzyna Bien, University of Konstanz and Winfried Pohlmeier, University of Konstanz

 

 

ESTIMATION OF VOLATILITY IN STOCHASTIC VOLATILITY MODELS WITH HIGH FREQUENCY DATA
Emilio Barucci, Politecnico di Milano
Co-Author: Maria Elvira Mancino, University of Firenze

 

 

EXCHANGE RATE VOLATILITY, MACRO ANNOUNCEMENTS AND THE CHOICE OF THE INTRADAY SEASONALITY FILTERING METHOD
Helinä Laakkonen, University of Jyväskylä

 


17:30 - 19:30

INDUSTRIAL ORGANISATION 2 (ESEM EEE)
Chairperson: Seunghyun Kim, Seoul National Univ.

Room B-1


 

A THRESHOLD MODEL FOR FIRMS' INVESTMENTS OVER THE BUSINESS CYCLE
Juri Marcucci, Bank of Italy
Co-Author: Francesca Lotti, Bank of Italy

 

 

SELF-ADVERTISING IN MEDIA: EMPIRICAL EVIDENCE FROM HUNGARIAN FEMALE MAGAZINE MARKET
Jozsef Molnar, Bank of Finland
Co-Author: Jakub Kastl, Stanford University

 

 

THE COMPARATIVE STUDY OF THE SUCCESSFUL COMBINATIONAL SEARCH STRATEGIES FOR TECHNOLOGICAL INNOVATIONS IN THE ICT INDUSTRY BASED ON THE LAYER MODEL
Seunghyun Kim, Seoul National Univ.
Co-Authors: JunSeok Hwang, Econometric Society Member and JinYoung Ryu,

 

 

SHARE THE FAME OR SHARE THE BLAME? THE REPUTATIONAL IMPLICATIONS OF PARTNERSHIPS
Luis Vasconcelos, Universidade Nova de Lisboa
Co-Author: Luis Almeida Costa , Universidade Nova de Lisboa

 



 

17:30 - 19:30

LIFE CYCLE AND RETIREMENT (ESEM EEE)
Chairperson: Mauro Mastrogiacomo, Free University of Amsterdam, CPB

Room B-4


 

HOME AND MORTGAGE OWNERSHIP OF THE DUTCH ELDERLY. EXPLAINING COHORT, TIME AND AGE EFFECTS
Mauro Mastrogiacomo, Free University of Amsterdam, CPB
Co-Authors: Rob Alessie, Utrecht School of Economics and Netspar and Anna Van der Schors, Utrecht School of Economics

 

 

JOB LOSS AND LABOR MARKET TRANSITIONS OF OLDER WORKERS
Konstantinos Tatsiramos, Institute for the Study of Labor (IZA, Bonn)

 

 

DO HIRING SUBSIDIES REDUCE UNEMPLOYMENT AMONG THE ELDERLY? EVIDENCE FROM TWO NATURAL EXPERIMENTS
Bernhard Boockmann, Centre for European Economic Research (ZEW)
Co-Authors: Andreas Ammermüller, ZEW, Michael Maier, ZEW Mannheim and Thomas Zwick, ZEW

 

 

EARLY RETIREMENT INCENTIVES, SELF-EMPLOYMENT, AND VOLUNTARY UNEMPLOYMENT INSURANCE: EVIDENCE FROM ADMINISTRATIVE DATA
Mette Ejrnaes, University of Copenhagen
Co-Author: Stefan Hochguertel, Vu University Amsterdam

 


17:30 - 19:30

PANEL DATA 4 (ESEM EEE)
Chairperson: Florian Siedenburg, Christian-Albrechts-University of Kiel

Room A-5


 

GEE ESTIMATION OF A TWO-EQUATION PANEL DATA MODEL: AN ANALYSIS OF WAGE DYNAMICS AND THE INCIDENCE OF PROFIT-SHARING IN WEST GERMANY
Markus Pannenberg, DIW Berlin and University of Applied Sciences Bielefeld
Co-Author: Martin Spiess, DIW Berlin & University of Flensburg

 

 

INFERENCE IN TWO-STEP PANEL DATA MODELS WITH TIME-INVARIANT REGRESSORS
Scott Atkinson, Dept. of Economics
Co-Author: Christopher Cornwell, U of Georgia

 

 

ON THE OPTIMAL WEIGHTING MATRIX FOR THE GMM SYSTEM ESTIMATOR IN DYNAMIC PANEL DATA MODELS
Jan Kiviet, University of Amsterdam

 

 

HOMOGENOUS PANEL UNIT ROOT TESTS UNDER CROSS SECTIONAL DEPENDENCE: FINITE SAMPLE MODIFICATIONS AND THE WILD BOOTSTRAP
Florian Siedenburg, Christian-Albrechts-University of Kiel
Co-Author: Helmut Herwartz, Kiel University

 


17:30 - 19:30

QUANTILE REGRESSION (ESEM EEE)
Chairperson: Joao Santos Silva, Departmet of Economics, University of Essex

Room A-7


 

QUANTILES FOR FRACTIONAL DATA
Joao Santos Silva, Departmet of Economics, University of Essex
Co-Author: Jose Machado, Faculdade de Economia, Universidade NOVA de Lisboa

 

 

SEMIPARAMETRIC EFFICIENCY BOUND AND M-ESTIMATION IN TIME-SERIES MODELS FOR CONDITIONAL QUANTILES
Ivana Komunjer, UCSD

 

 

ROBUST SIGN-BASED ESTIMATORS AND GENERALIZED CONFIDENCE DISTRIBUTIONS IN MEDIAN REGRESSIONS UNDER HETEROSKEDASTICITY AND NONLINEAR DEPENDENCE OF UNKNOWN FORM
Elise Coudin, CREST-INSEE Université de Montréal
Co-Author: Jean-Marie Dufour, U de Montreal

 


17:30 - 19:30

TIME SERIES 4 (ESEM EEE)
Chairperson: Tae-Hwan Kim, Yonsei University

Room A-3


 

AN UNBIASED TEST FOR A CHANGE IN PERSISTENCE
Tae-Hwan Kim, Yonsei University
Co-Authors: Stephen Leybourne, University of Nottingham and Robert Taylor, University of Nottingham

 

 

TESTS OF TIME-INVARIANCE
Fabio Busetti, Bank of Italy
Co-Author: Andrew Harvey, Cambridge University

 

 

TESTING FOR MULTISTEP CAUSALITY
Joerg Breitung, University of Bonn
Co-Author: BERTRAND CANDELON, university Maastricht - AE2

 

 

SHOCK (DO YOU WANT TO IDENTIFY THEM?)
Gonzalo Jesus, University Carlos III Madrid
Co-Author: Martinez Oscar, University Rovira i Virgili

 


17:30 - 19:30

UNIT ROOTS 2 (ESEM EEE)
Chairperson: Giuseppe Cavaliere, University of Bologna

Room A-2


 

A SMOOTH TRANSITION TO THE UNIT ROOT DISTRIBUTION VIA THE CHI-SQUARE DISTRIBUTION WITH INTERVAL ESTIMATION FOR NEARLY INTEGRATED AUTOREGRESSIVE PROCESSES
Willa Chen, Dept of Statistics, Texas A&M University
Co-Author: Rohit Deo, New York University

 

 

INTEGRATED TIME SERIES IN BINARY CHOICE MODELS
Wojciech Grabowski, University of Lodz

 

 

ROBUST INFERENCE IN AUTOREGRESSIONS WITH MULTIPLE OUTLIERS
Giuseppe Cavaliere, University of Bologna

 


20:00 - 22:00

FAREWELL PARTY, HOTEL INTER-CONTINENTAL